Recent trends in globalization have forced businesses around the world to more keenly focus on profitability. This trend is also present in Japan, where historical links between banks and businesses have traditionally blurred the goals of firms. For example, the Japanese business engineering firm, Mitsui & Co. Ltd., recently launched “Challenge 21”. A plan directed at helping the company emerge as Japan’s leading business engineering group. According to a spokesperson for the company.” [ This plan permits us to] create new value and maximize profitability by taking steps such as renewing our management framework and prioritizing the allocation of our resources into strategic areas. We are committed to maximizing shareholder value through business conduct that balances the pursuit of earnings with socially responsible behavior.” Ultimately, the goal of any continuing company must be to maximize the value of the firm. This goal is often achieved by trying to hit intermediate targets, such as minimizing costs or increasing market share. If you as a manager- do not maximize your firm’s value over time, you will be in danger of either going out of business, being taken over by other owners (as in a leveraged buyout), or having stockholders elect to replace you and other managers. Source: “Mitsui & Co., Ltd. UK Regulatory Announcement: Final Results.” Business Wire, May 13, 2004.

Questions

1. What is (Challenge 21 ) plan of Mitsui & Co., Ltd.

2. What were the objectives of the management of Mitsui & Co., Ltd .

3. What are the threats of not maximizing a firm’s value.

Should You Eat Farmed Salmon?

My teacher sent me Statcrunch data file which gives us information collected from a random sample of 150 farmed salmon from different parts of the world. The data was collected in 2004 and the results were published in the prestigious journal Science.

https://www.statcrunch.com/app/index.php?dataid=3432505

The file contains where the salmon was farmed and the level of mirex found in the salmon. Mirex is a banned pesticide that can be cancer-causing. The units for the Mirex are in parts per million (ppm).

Here are the questions I need help with.

1) Create some comparative graphs which show the concentrations of mirex in salmon sorted by location. (Hint: if choose your graph correctly and use the “group by” feature in Statcrunch, you can get these all on one graph.). Paste the statcrunch graph and indicate which regions have lower levels of mirex.

2) Construct a 95% confidence interval to estimate the proportion of farmed salmon which comes from Chile. Include a sentence about the interval.

3) The Environmental Protection Agency’s recommended “screening value” for mirex is 0.08 ppm. Do farm-raised salmon appear to be contaminated beyond the level permitted by the EPA? Using a 5% level of significance, complete a hypothesis test to answer that question. Follow all the steps, include Statcrunch output, and express your decision clearly. Based on your results, would you have concerns about eating farm-raised salmon?

On December 31, 2013, the Mallory Corporation had the following activity in its fixed assets

record. Assume all assets were purchased on January 1.

REQUIRED:

· Compute the depletion, amortization, and depreciation expense on December 31, 2013 for each asset listed above.

· Record the entries for the assets above

· Suppose that we sold machine 2 for $50,000, record the entry

· Suppose that the building life increased from 25 years to 30 years, revise the depreciation and prepare the entry.

· Suppose that the corporation spent $20,000 in 2013 to defend the patent.  Record the entry.

Used Cars - Actual Data: Below are the scatterplots, regression equations, and corresponding statistics for mileage, model year, and price for 15 different Honda Civics found on craigslist in May 2012.

Suppose you see a 2004 Honda Civic with 140 thousand miles on it. Estimate a reasonable price for this car via the following methods.

(a) Estimate the price using the mileage. Round your answer to the nearest dollar.
$

(b) Estimate the price using the year. Round your answer to the nearest dollar.
$

(c) Estimate the price using the multiple linear regression equation given by

ŷ = 716.9x₁ − 42.9x₂ − 1,424,349

where x₁ is the model year and x₂ is the mileage (in thousands). Round your answer to the nearest dollar.
$

(d) Which of the following statements are valid?

The estimate based only on mileage (part a) is too low because it doesn't consider the model year.

The estimate based only on the year (part b) is too high because it doesn't consider the mileage.     

The estimate from part (c) considers both variables (year and mileage) to produce a better estimate.

All of these are valid statements.

1. In an imaginary economy, consumers buy only hot dogs and hamburgers. The fixed basket consists of 15 hot dogs and 8 hamburgers. A hot dog cost $2.25 in 2006 and $5.40 in 2007. A hamburger cost $5.75 in 2006 and $7.86 in 2007. Calculate the CPI for both years and then find the inflation rate.

2. In an imaginary economy, consumers buy only sandwiches and magazines. The fixed basket consists of 25 sandwiches and 40 magazines. In 2006, a sandwich cost $4.50 and a magazine cost $3.99. In 2007, a sandwich cost $5.75. If the inflation rate in 2007 was 21 percent, then how much did a magazine cost in 2007?

3. When Anders took out his first two-year membership with Maxima Gym in 2004, the fee was $525.00. He renewed his membership three times; in 2006 for $580.00, in 2008, for $600.00, and again in 2010, for $699.00. What is the OVERALL rate of inflation for Anders' gym membership?

4. In 1949, Sycamore, Illinois built a hospital for about $500,000. In 1987, the county restored the courthouse for about $2.4 million. A price index for nonresidential construction was 12 in 1949, 96 in 1987, and 117.5 in 2000. Calculate the value of the courthouse in 2000 dollars and the value of the hospital in 2000 dollars and compare your answers. Which one cost more?

5. Ruben earned a salary of $60,000 in 2001 and $80,000 in 2006. The consumer price index was 156 in 2001 and 227.25 in 2006. What is Ruben's 2006 salary in 2001 dollars? What does this mean about how his purchasing power increased or decreased?

Understanding how the American university culture affects students requires analyzing the cultural norms that students bring to college and how these norms interact with the norms institutionalized in university settings. Cultural models of self—implicit understandings of oneself in relation to others and the social context—are one important source of these individual and institutional norms (Cross & Madson, 1997; Markus & Kitayama, 2010). Research conducted in a variety of cultural contexts has identified two common models of self that provide culture-specific norms for how to think, feel, and act (Markus & Kitayama, 1991). The independent model of self assumes that the normatively appropriate person should influence the context, be separate or distinct from other people, and act freely based on personal motives, goals, and preferences (Markus & Kitayama, 2003). In contrast, the interdependent model of self assumes that the normatively appropriate person should adjust to the conditions of the context, be connected to others, and respond to the needs, preferences, and interests of others. The independent and interdependent models both constitute sets of social norms, each providing a different guide or blueprint for how people should relate to others and to the social world (Adams, Anderson, & Adonu, 2004).

1. The above passage indicates two different sets of social norms. What are they?

2. Compare and contrast each set of social norms with the axiology of economics.

3. Which set of social norms is less similar to that axiology?

4. What would that predict the success of first-generation college students who study economics?

In the Clean Air Act as amended, Congress allowed California, which has serious problems with air quality, to adopt its own standards for emissions from cars and trucks, subject to the approval of the Environmental Protection Agency (EPA) according to certain standards. The Act also allowed other states to adopt California’s standards after EPA approval. In 2004, California adopted emissions standards for all new passenger vehicles and lightduty trucks sold in California beginning in 2009. The standards imposed decreasing limits on emissions of carbon dioxide and other greenhouse gases (GHG) through 2016. While EPA approval was pending, other states adopted the California standards. A group of industry associations, automakers, and new car dealerships filed suit to block state adoption of the standards (including California). (a) Under the Environmental Policy and Conservation Act (EPCA), a designated federal agency sets fuel economy standards for new cars. The plaintiffs argued, among other things, that the EPCA, which explicitly prohibits states from adopting separate fuel economy standards, preempts states from adopting their own emission standards. Is the plaintiffs’ argument valid? Discuss. (b) Do the state emissions rules impose on the efforts of the federal government to address global warming internationally? Who should regulate GHGs, the states or the federal government? Both? Neither? Discuss. (c) The plaintiffs also argued that they would go bankrupt if they were forced to adhere to a different GHG standard for each state. Should they be granted relief on this basis? Does history support their claim? Discuss.

1. An instructor grades exams, 20%; term

paper, 30%; final exam, 50%. A student had grades of

83, 72, and 90, respectively, for exams, term paper, and

final exam. Find the student’s final average. Use the

weighted mean.

2. Stories in the Tallest Buildings The number of

stories in the 13 tallest buildings for two different

cities is listed below. Which set of data is more

variable?

Houston: 75, 71, 64, 56, 53, 55, 47, 55, 52, 50, 50, 50, 47

Pittsburgh: 64, 54, 40, 32, 46, 44, 42, 41, 40, 40, 34, 32, 30

3. Americans spend an average of

3 hours per day online. If the standard deviation is

32 minutes, find the range in which at least 88.89%

of the data will lie. Use Chebyshev’s theorem.

4. The average farm in the United States in

2004 contained 443 acres. The standard deviation is

42 acres. Use Chebyshev’s theorem to find the

minimum percentage of data values that will fall in

the range of 338–548 acres.

5. The average age of senators in

the 108th Congress was 59.5 years. If the standard

deviation was 11.5 years, find the z scores

corresponding to the oldest and youngest senators:

Robert C. Byrd (D, WV), 86, and John Sununu

(R, NH), 40.

      7. Which score indicates the highest relative position?

a. A score of 3.2 on a test with mean 4.6 and

s 1.5

b. A score of 630 on a test with mean 800 and

s 200

c. A score of 43 on a test with _mean 50 and s 5

Sachs Brands’ defined benefit pension plan specifies annual retirement benefits equal to: 1.6% × service years × final year’s salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2004 and is expected to retire at the end of 2038 after 35 years’ service. Her retirement is expected to span 18 years. Davenport’s salary is $90,000 at the end of 2018 and the company’s actuary projects her salary to be $240,000 at retirement. The actuary’s discount rate is 7%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required: 1. What is the company's projected benefit obligation at the beginning of 2018 (after 14 years' service) with respect to Davenport? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2018 service.

3. What is the company's service cost for 2018 with respect to Davenport? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

4. What is the company's interest cost for 2018 with respect to Davenport? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

5. Combine your answers to requirements 1, 3, and 4 to determine the company's projected benefit obligation at the end of 2018 (after 15 years' service) with respect to Davenport.