Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown below.

a. Fill in the table for the missing values.     

b. Which buyer demands the least at a price of $5? The most at a price of $7?     

c. Which buyer’s quantity demanded increases the most when the price is lowered from $7 to $6?     

d. Which direction would the market demand curve shift if Tex withdrew from the market? What if Dex doubled his purchases at each possible price?     

e. Suppose that at a price of $6, the total quantity demanded increases from 19 to 38. Is this a “change in the quantity demanded” or a “change in demand”?

Please read the following paragraph. I would like you to explain the underlined sentences in economic terms

David Speer is chief executive of Illinois Toolworks, which has 60,000 employees worldwide in more than 800 business units and $14 billion in sales. He said an additional burst of fiscal stimulus from Washington might help boost economic growth for a period of months. But that is unlikely to affect his decisions about hiring and expansion, which Speer said are based on expectations for sales over years to come, not just the immediate future.

As long as U.S. consumers remain deeply strained, he is unlikely to undertake aggressive expansion.

More fiscal stimulus "might help make things a little better for a couple of quarters, but I'm not sure it would get at the underlying economic issue," Speer said. "The core question is: How do you get consumers back on their feet. We need growth in a sustainable way, not another Band-Aid."

Nor is it clear that new Fed action, such as steps to try to lower long-term interest rates and encourage investment, would prompt him to expand.

For large companies such as Illinois Tool Works, the price of borrowed money isn't the problem. The company had $1.3 billion in cash on its balance sheet at the end of June, up from $743 million at the end of 2008. Lower interest rates wouldn't make much of a difference, either.

"I could borrow $2 billion tomorrow for 3 1/2 percent," said Speer. "But what am I going to do with it?"

Speer is coming to terms with a new economic reality. After an extended economic boom, the nation is less than three years into the process of working out the excesses of that period.

"It took us a decade to get in the ditch we are in," Speer said. "There isn't going to be instant gratification to get us out of it. We're going to have to get used to a lower growth economy, and that is going to be a big adjustment for all of us."

1.Are men smarter than women at Private Universities in the United States? A study was conducted, randomly selecting 400 men, and 400 women from different Private Universities across the US, and asking for their GPAs. What is the population of this study?

All students enrolled at Private Universities in the world

All students enrolled at Universities in the US

Female students enrolled at Private Universities in the US

All students enrolled at Private Universities in the US

unanswered

2.Match each of the example experiments to the type of experimental design

A study was conducted to determine if rats gain weight after experiencing different levels of exercise. Researchers used 25 rats, for four different levels of exercise, plus a control group. Rats were randomly assigned to each group until there were five rats per group.

Some people try to counteract the presence of alcohol with caffeine in regards to reaction time. To test this, reaction times were measured when subjects were exposed to one of the two levels of alcohol (no alcohol, or yes alcohol), and one of the three different levels of caffeine ( 25 mg, 50 mg, 75 mg).  

It is thought that different levels of mercury exposure can decrease activeness in mice. Since some mice might not be as active due to their genetics, the litter from which the mice came from was used in the study as well. Each mouse was exposed to a level of mercury independently and at random.     

Select an option A. Factorial Design B. Completely Randomized Design c.Completely Randomized Block Design   

3.Which type of bait catches the largest fish? A study was conducted using 3 different baits (worms, corn, and plastic lures), and the average weight of the fish caught was measured. How many treatments are there?

4.Whcih of the following are true about sample statistics? (Choose all that apply)

Are always known

Are never known

Are usually represented by Greek letters

Are calculated from an entire population

Are calculated from a portion of the population

Suppose the average yearly salary of an individual whose final degree is a master's is $3333 thousand less than twice that of an individual whose final degree is a bachelor's. Combined, two people with each of these educational attainments earn $117 thousand. Find the average yearly salary of an individual with each of these final degrees.

You are currently employed as partner in United & Party LLC, an accounting firm. The following three different audits were performed by your team for the year ended December 31, 2018:

Peoples Shelter, a non-profit organization. Except for salaries and allowances, the company has not kept vouchers or receipts for more than 60 per cent of its expenses.

Jack Holdings, Inc. Jack Holdings is a major construction company. Jack Holdings also purchases large vacant blocks of land that it later subdivides for the construction of houses and units to compensate for the irregularity of its contracted building projects. These are then sold on its own account. Your evidence strongly shows that the apportionment of costs to houses and units sold has been kept low in order to boost profits. In your opinion, this has resulted in the overvaluation of the unsold properties. The directors of the company do not agree and maintain that the stock of properties is correctly valued.

Vacation Dreamland Ltd. Vacation Dreamland booked a major German group to perform in selected cities in the U.S.A. The contract required that Vacation Dreamland should pay the group in US dollars but, to reduce costs, it did not hedge the amounts. Subsequent to year end, the German Mark fell against the US dollar and a substantial loss relating to the group’s tour was expected. The management of Vacation Dreamland tried unsuccessfully to renegotiate the band’s contract and was not able to obtain finance to cover the expected shortfall. Vacation Dreamland cancelled the tour and expects a substantial claim from the German group. Your analysis indicate that Vacation Dreamland does not have the income, cash or other assets to sustain such a loss.

Required:

Assuming that all amounts involved are material, identify:

The most likely auditor’s opinion that you would issue on each financial report for the year ending December 31, 2018 and

Discuss the justifications for each of the opinions.

1. Draw an exposure diagram to illustrate a firm’s exposure to interest rate risk if the firm is going to borrow $10m six months from today. Assume the loan will be a one-year loan with all interest paid at the end of the year. Graph the relation between the firms interest costs and interest rates. Also graph the relation between the firm’s profit and interest rates (assuming that higher interest costs cannot be passed on the consumers).

2.Draw an exposure diagram to illustrate the relationship between a firm’s costs and the exchange rate between US dollar and Euro dollar if the fir plans to purchase goods from an European firm one year from today. Assume that the transaction is denominated in Euro dollar, but that the firm is concerned about its costs in US dollars. Also draw an exposure diagram to illustrate the relationship between a firm’s profit and the exchange rate between US dollar and Euro dollar.

3. Draw an exposure diagram to illustrate the relationship between a gold mining firm’s profit and the price of gold in three months.

4. Would a call option or a put option hedge the exposure of the firms described in problem 1,2 and 3?

5. Would a long (buy) or a short (sell) forward position hedge the exposure of the firms described in problem 1,2 and 3?

On 1st July 2009 C Ltd acquires a 30% shares in J Ltd for an exchange of cash of $270 000. On acquisition date, the assets of J Ltd are reported at fair value and the total equity is:

Contributing equity $660 000 Retained earnings $240 000

A dividend of $5 000 is paid by J Ltd on 31st October 2009 from profits earned in 2008-09 period (pre-acquisition). For the year ended 30th June 2010, J Ltd records an after tax profit of $50 000 for the year. A further dividend of $20 000 is declared by J Ltd on 30th June 2010 from profits earned in 2009-10 period. On 31st October 2010, J Ltd pays the $20 000 dividend declared on 30th June 2010.

For the year end 30th June 2011, J Ltd records an after-tax loss of $25 000. On 30th June 2011, J Ltd declares dividends of $10 000 to be paid out of the profits earned in the 2010 financial year. On 30th June 2011 J Ltd re-values its land upwards by an amount of $200 000. Tax rate is 33%.

Required:

Prepare the journal entries under the equity method of accounting for C Ltd for the years ending 30th June 2010 and 30th June 2011 to account for its investment in J Ltd assuming that C Ltd is a parent entity which prepares consolidated financial statements.

Red Carpet LLC is a national hospitality and entertainment company with headquarters in Philadelphia, PA with national operations in the US. Historically, the company has had 3 divisions: hotels, food service, and cruise lines. However, it recently completed the acquisition of Sparkstar theaters, a movie theater company, that it is slated to become its 4th division. Red Carpet now owns 200 hotels in 48 states, 4 brands of restaurants with 1776 locations, 4 Buoy Bay branded cruise ships, and 300 Sparkstar theaters.

Its matrix organizational structure consists of a central HR, accounting, business development, sales, marketing, and research and development departments located at the headquarters in Philadelphia that serve each division. Each division is located in a different part of the US and lead by a VP that reports to the President and CEO. The company is privately owned by a consortium of investors and investor groups.

Red Carpet has 16,000 employees, 1000 of which work at its corporate headquarters. The organizational culture of the headquarters is informal and organic and there are few policies and processes that guide employee behavior. The company, as a whole, does not value HR so employees struggle with many employee relations and employment law concerns. The company outsources all of its training to one of the investor group companies, however this training is commonly not customized to the needs of Red Carpet.

As a whole, Red Carpet struggles with its business to business partners and suppliers because of its reputation for being nonnegotiable. Red Carpet would rather disrupt the quality and availability of its only products and services rather than partner for the supply chain resources that it needs. Likewise, Red Carpet does not hold many of the General Managers in its hotels, restaurants, and its cruise ships accountable for performance, opting instead for a weaker political strategy of blaming and gotcha games.

Being aware of these challenges, Red Carpet acquired Sparkstar for their strong industry reputation and financial performance in the hopes that merging the structure and culture of Sparkstar into Red Carpet would change the organization for the better. Historically, Red Carpet has been a highly successful company, however in recent years, its mismanagement has created noticeable effectives in product and service quality and its bottom line.

Divisions

Hotels: Red Carpet branded hotels are mid-price semi-luxury hotels known for high quality. Each customer is given a red velvet cupcake upon checking in. Red Carpet relies on its General Managers to micromanage the hotel. Despite its corporate parent owning a restaurant division, no Red Carpet hotels have restaurants. The Red Carpet division headquarters are in Sedona AZ. Many of the hotels are in need of refurbishment.

Food Service: Chicken Heaven is a fast-food chain with a long tradition of quality, large customer base, and 1000 locations. It is a solid overall performer for Red Carpet with high employee satisfaction. Burger Blast is another fast-food chain recently launched to cater to upscale customers who seek customized, gourmet-style burgers. It has 200 locations, however General Managers are struggling with budget and supplies causing a poor customer experience and high employee turnover. Food Park is a buffet-style restaurant with 500 locations that has been recently struggling because of high competition and poor marketing. Delicacy is a high-end restaurant with an urban theme. It has 76 locations, is the oldest of Red Carpet's food service operations, and provides a unique dining experience for customers. However, General Managers have a high turnover at Delicacy because of the grueling schedule. The food service division is located in Burke, ID.

Cruise Ships: Buoy Bay cruise ships offer low-cost, short-term cruises from Port Canaveral, FL only to the US Virgin Islands. Buoy Bay offers customers average quality staterooms and food from Chicken Heaven, Burger Blast, and Food Park. However, it does not offer a non-buffet formal dining option such as Delicacy. Although they are known for their over-the-top entertainment, employee turnover is very high relying primary on seasonal employees who are poorly trained. Buoy Bay has had much controversy. Just 5 years ago, the Buoy Bay cruise ship, Garland of the Sails, hit a reef, partially sank, and had to be salvaged in a 1.5 billion dollar operation. This resulted in a Federal investigation that is still pending. The Buoy Bay division is located in Lapsowanne, OR.

Movie Theaters: Sparkstar theaters were recently purchased from the Vegamega group for 2.3 billion dollars. Sparkstar is the highest rated movie theater chain the US. It has high customer and employee satisfaction, an efficient organizational structure, and solid financial results. Sparkstar's culture is one of high HR involvement including a strong training and development department, Sparkstar Institute. Sparkstar has a customer rewards program that provides a free movie rental of the film that the customer saw in the theater which has been very popular and has increased its strong customer base. Sparkstar has its divisional headquarters in Pasadena, CA.

The Issues

With the purchase of Sparkstar theaters, Red Carpet is hoping to redefine its operations in the next 5 years. It sees opportunities to integrate its divisions, products, and services to better serve its customers and employees. Here is a summary of some of the issues that Red Carpet must address in its strategic plan:

Internal politics and communication
Improved HR and training
Employee relations issues
Federal investigations
Product and service quality
Marketing support
Performance issues
Redefining the organizational structure
Improving its organizational culture
Integrating products and services
Resource and supply chain issues

Your Role

Leroy Banks, the Director of Change management at Red Carpet is seeking an Organization Development Consultant to address Red Carpet's need for change. You've just received a consulting contract from him to help prepare a plan to assist Red Carpet. You're excited about the opportunity and are motivated to work on this project. You know that your insight will assist Red Carpet with managing organizational change.

Leroy Banks is the Director of Change Management for Red Carpet, a national hospitality and entertainment company. He has contracted you to be an OD Consultant because Red Carpet has recently acquired a movie theater company and needs to create a new division. Leroy realized that this acquisition has provided an opportunity to restructure some other parts of the Red Carpet as well so it can streamline its operations. Leroy has asked you to begin by assessing Red Carpet’s organizational environment.

Review the Red Carpet scenario for this course and with your classmates; discuss the following questions that will help you become familiar with Red Carpet:

Identify and describe 3 examples of external forces affecting Red Carpet.
Identify and describe 3 examples of internal forces affecting Red Carpet
What challenges have these forces created at Red Carpet?

Write 3 paragraphs for reflection and should be do the following:

1. In first paragraph, Summarize the article (attached below).
2. In second paragraph, Connect the article with one of those "The Fossil Record of Human Biological Evolution", "Habitual Bipedalism" or "Fossil Skeleton". Be specific about the connections you make.
3. In third paragraph, Include your own reflection on what you’ve read/learned. What do you think about it?

Article Here: "Evidence Indicates Humans' Early Tree-dwelling Ancestors Were Also Bipedal"

Experiments by a UA anthropologist and his colleagues show that fossil footprints made 3.6 million years ago are the earliest direct evidence of early hominins using the kind of efficient, upright posture and gait now seen in modern humans. More than three million years ago, the ancestors of modern humans were still spending a considerable amount of their lives in trees, but something new was happening. David Raichlen, an assistant professor in the University of Arizona School of Anthropology, and his colleagues at the University at Albany and City University of New York's Lehman College have developed new experimental evidence indicating that these early hominins were walking with a human-like striding gait as long as 3.6 million years ago. The results of their research appears in Monday's edition of PLoS ONE, a journal from the Public Library of Science. A trackway of fossil footprints preserved in volcanic ash deposited 3.6 million years ago was uncovered in Laetoli, Tanzania, more than 30 years ago. The significance of those prints for human evolution has been debated ever since. The most likely individuals to have produced these footprints, which show clear evidence of bipedalism, or walking on two legs, would have been members of the only bipedal species alive in the area at that time, Australopithecus afarensis. That species includes "Lucy," whose skeletal remains are the most complete of any individual A. afarensis found to date. A number of features in the hips, legs and back of this group indicate that they would have walked on two legs while on the ground. But the curved fingers and toes as well as an upward-oriented shoulder blade provide solid evidence that Lucy and other members of her species also would have spent significant time climbing in trees. This morphology differs distinctly from our own genus, Homo, who abandoned arboreal life around 2 million years ago and irrevocably committed to human-like bipedalism. Since the Laetoli tracks were discovered, scientists have debated whether they indicate a modern human-like mode of striding bipedalism, or a less-efficient type of crouched bipedalism more characteristic of chimpanzees whose knees and hips are bent when walking on two legs. To resolve this, Raichlen and his colleagues devised the first biomechanical experiment explicitly designed to address this question. The team built a sand trackway in Raichlen's motion capture lab at the UA and filmed human subjects walking across the sand. The subjects walked both with normal, erect human gaits and then with crouched, chimpanzee-like gaits. Three-dimensional models of the footprints were collected by biological anthropologist Adam Gordon using equipment brought from his Primate Evolutionary Morphology Laboratory at the University at Albany. The researchers examined the relative depth of footprints at the heel and toe, and found that depths are about equal when made by a person walking with an erect gait. In contrast, the toe print is much deeper than the heel print when produced by a crouched gait, a product of the timing of weight transfer over the length of the foot. "Based on previous analyses of the skeletons of Australopithecus afarensis, we expected that the Laetoli footprints would resemble those of someone walking with a bent knee, bent hip gait typical of chimpanzees, and not the striding gait normally used by modern humans," Raichlen said. "But to our surprise, the Laetoli footprints fall completely within the range of normal human footprints." The fossil footprints at Laetoli preserve a remarkably even depth at the toe and heel, just like those of modern humans. "This more human-like form of walking is incredibly energetically efficient, suggesting that reduced energy costs were very important in the evolution of bipedalism prior to the origins of our own genus, Homo," Raichlen said. If the Laetoli footprints were made by Lucy's species, as most scientists agree to be the case, these experimental results have interesting implications for the timing of evolutionary events. "What is fascinating about this study is that it suggests that, at a time when our ancestors had an anatomy well-suited to spending a significant amount of time in the trees, they had already developed a highly efficient, modern human-like mode of bipedalism," said Gordon. "The fossil record indicates that our ancestors did not make a full-time commitment to leaving the trees and walking on the ground until well over a million years after these (Laetoli) prints were made. The fact that partially tree-dwelling animals, like Lucy, had such a remarkably modern gait is a testament to the importance of energetic efficiency in moving around on two legs," Gordon said. "Laetoli Footprints Preserve Earliest Direct Evidence of Human-like Bipedal Biomechanics" will be published in PLoS ONE on Monday, March 22 and can be accessed online.

All of the following statements are true, except:

a.

Canadian residents must report their worldwide income for tax purposes.

b.

If an individual is a resident of Canada for part of the calendar year, that individual only has to report his worldwide income during the period of residency for Canadian tax purposes.

c.

An individual who immigrates to Canada during the year is a resident of Canada for tax purposes for the full calendar year.

d.

An individual can be a resident of Canada for tax purposes, even if she is not a Canadian citizen.

Ms. Floot has been out of Canada for several years. She is presumed to be a non-resident as long as certain tests are met. Indicate the condition that does NOT have to be met.

a.

She did not leave personal property or social ties in Canada.

b.

She does not return to Canada on a regular or frequent basis.

c.

She did not leave a spouse or other dependants in Canada.

d.

She did not leave taxable Canadian property in Canada.

Anthony, his wife and two kids are all Canadian citizens. For the last three years he and his family have been living in Italy while he works for the Italian subsidiary of a Canadian company. Anthony still owns his house in Canada. His wife and kids stay there for three months in the summer and he spends two month a year there. The rest of the time the house is empty as his wife visits family in Canada regularly. Anthony has no plans to return to Canada and loves living in Italy. However, since his father is old, it is possible that his wife will have to return to Canada for at least five months to nurse his father. Which of the following statements is correct?

a.

If Anthony’s wife returns alone to Canada to care for his father, Anthony is considered a part-time resident of Canada for the five months she is in Canada.

b.

Anthony is considered a non-resident of Canada.

c.

Since Anthony owns a house in Canada that is not rented out under a long-term lease, he is considered a Canadian resident for income tax purposes.

d.

Anthony is considered a part-time resident of Canada for the two months he spends in Canada.

Clear my choice

In which one of the following lists are ALL items relevant when computing net employment income?

a.

Free meals in employer’s facilities; life insurance paid by the employer; legal fees incurred to collect unpaid salary.

b.

Monthly travel allowance; dental plan paid for by the employer; promotional cost incurred in selling the employer’s products.

c.

Employee contributions to a registered pension plan; bonus received; use of an employer-owned automobile.

d.

Medical insurance paid by the employer; exercise of options to purchase shares of the publicly traded employer and tips