2. Sally and Tom decide to go into business, which they call “Pelatone,” which manufactures and sells exercise bicycles. They sign a partnership agreement that requires Sally to contribute $100,000 and Tom to contribute $140,000 in capital to start the firm. The partnership agreement says nothing about the management of the firm or the division of profits. Without Sally’s knowledge, Tom informs the owner of United Wheel Co, that he represents the Pelatone and signs a large contract with United to buy wheels to be used on Pelatone’s bicycles. In its first year of operations, Pelatone makes a profit of $240,000.

1. What are the Tom’s and Sally’s rights with respect to the management of the firm?

2. Is Pelatone bound to the contract with United? Why or why not?

3. How should Pelatone’s first year’s profits be divided between Tom and Sally? Why?

QUESTION 1

a.         Given a population has a mean of 125. What is the sampling error for an eight items sample with the values 103, 123, 99, 107, 121, 100, 100 and 99?

b.         United Manufacturing and Supply makes sprinkler valves for use in residential sprinkler systems. United supplies these valves to major companies such as Rain Bird and Nelson, who in turn sell sprinkler products to retailers. United recently entered into a contract to supply 40,000 sprinkler valves. The contract called for at least 97% of the valves to be free of defects. Before shipping the valves, United managers tested 200 randomly selected valves and found 190 defect-free valves in the sample. If the actual population of 40,000 valves is 97% defect-free, what is the probability of finding 190 or fewer defect-free valves?

c.         Suppose a population is normally distributed with a mean 100 and a standard deviation of 15. When a sample of size n = 36 is collected a sampling distribution is created. Explain which is larger: the probability of a value randomly selected from the population being larger than 120, or the probability of a sample mean being larger than 120.

P10-45. Analyzing and Interpreting Effects of TCJA Tax Law Changes.

Pfizer Inc. reports the following footnote disclosure in its 2018 Form 10-K.

The following table provides the components of Income from continuing operations before provision (benefit) for taxes on income:

Year Ended December 31, $ millions                                                   2018                 2017                2016

United States                                                                                         $(4,403)            $(6,879)       $(8,534)

International                                                                                            16,288              19,184          16,886

Income from continuing operations before provision of taxes…   11,885              12,305            8,351

The following table provides the components of Provision (benefit) for taxes on income based on the location of the taxing authorities:

$ millions                                                                                                    2018                  2017               2016

United States

Current income taxes:

Federal                                                                                                        $668                  $1,267           $342

State and Local                                                                                                 9                         45               (52)

Deferred income taxes:

Federal                                                                                                        (1,663)              (2,064)            (419)

State and local                                                                                                  16                   (304)            (106)

Total U.S. tax provision                                                                                 (970)              (1,055)           (235)   

TCJA

Current income taxes                                                                              (3,035)                13,135                 -

Deferred income taxes                                                                             2,439                 (23,795)               -

Total TCJA tax provision                                                                            (596)                 (10,660)              -

International

Current income taxes                                                                               2,831                   2,709              1,532

Deferred income taxes                                                                              (558)                      (42)              (175)

Total international tax provision                                                            2,273                   2,667              1,358

a.In the fourth quarter of 2017, we recorded an estimate of certain tax effect of the TCJA, including (i) the impact of deferred tax assets and liabilities from reduction in the U.S. Federal corporate tax rate from 35% to 21%, (ii) the impact on valuation allowances and other state income tax considerations, (iii) the $15.2 billion repatriation tax liability on accumulated post-1986 foreign earnings for which we plan to elect, with the filing of our 2018 U.S. Federal Consideration Income Tax Return, payments over eight years through 2026 that is reported in Other taxes payable in our consolidated balance sheet as of December 31, 2017 and (iv) deferred taxes on basis differences expected to give rise to future taxes on global intangible low-taxed income. As a result of the TCJA, in the fourth quarter of 2017, we reversed an estimate of the deferred taxes that are no longer expected to be needed due to the change to the territorial tax system.

Required.

1. What is the amount of the income tax expense reported by Pfizer for each year? What amount is current versus deferred?
2. What is Pfizer’s effective (average) tax rate for each year?
3. Use the pretax information to determine the effective tax rate for U.S. operations for each year.
4. The footnotes include amounts related to the TCJA of 2017. What was the effect on the company’s tax expense in 2017 and 2018 due to the TCJA?
5. Pfizer lists four TCJA items that impacted their 2017 tax provision. Explain how each of the four items might have affected Pfizer’s 2017 tax expens

Operating exposure. ​ Copy-Cat, Inc. has signed a deal to make vintage Nissan​ 240-Z sports cars for the next three years. The company will build the cars in Japan and ship them to the United States for sale. The current indirect rate is ¥114.0659 per dollar. The anticipated inflation rate for parts and labor in Japan is 2.4​%over the next three​ years, and the anticipated overall inflation rate for Japan is 3.4​%over the next three years. The expected overall inflation rate in the United States is 4.7% over the next three years. ​ (The stated rates are on an annual​ basis.) If​ Copy-Cat plans to sell 600 cars a year at an initial price of $40,000 and the cost of production is ¥4,076,500​, what is the annual profit in dollars for​ Copy-Cat? Assume it takes one year for production and all sales revenues and production costs occur at the end of the year. Is this profit rising or falling each​ year? ​ Why?

What is the expected sales revenue per car in dollars for​Copy-Cat in year​ 1?

​$ (Round to the nearest​ cent.)

What is the expected sales revenue per car in dollars for​Copy-Cat in year​ 2?

​$​(Round to the nearest​ cent.)

What is the expected sales revenue per car in dollars for​Copy-Cat in year​ 3?

​$​(Round to the nearest​ cent.)

What is the expected production cost per car in dollars for​Copy-Cat in year​ 1?

​$(Round to the nearest​ cent.)

What is the expected production cost per car in dollars for​Copy-Cat in year​ 2?

​$​(Round to the nearest​ cent.)

What is the expected production cost per car in dollars for​Copy-Cat in year​ 3?

​$(Round to the nearest​ cent.)

What is the expected profit in dollars for​ Copy-Cat in year​ 1? Enter a negative number for a loss.

​$​(Round to the nearest​ dollar.)

What is the expected profit in dollars for​ Copy-Cat in year​ 2? Enter a negative number for a loss.

​$​(Round to the nearest​ dollar.)

What is the expected profit in dollars for​ Copy-Cat in year​ 3? Enter a negative number for a loss.

​$(Round to the nearest​ dollar.)

Will these new anticipated inflation rates affect the production of vintage​ 240-Zs? ​ Why?  ​(Select the best​ response.)

A. The profit​ (loss) is rising​ (falling) each year as the revenue is growing at a higher inflation rate than the production costs despite the weakening yen against the dollar.

B. The profit​ (loss) is falling​ (rising) each year as the revenue is growing at a higher inflation rate than the production costs despite the weakening yen against the dollar.

C. The profit​ (loss) is falling​ (rising) each year as the yen is weakening against the dollar despite different inflation rates in the two countries.

D. The profit​ (loss) is rising​ (falling) as the revenue is growing at a higher inflation rate than the production costs and the weakening yen against the dollar allows for the production costs to fall even more.

What are your top 3 take aways from this article and how would you apply them as a manager or supervisor?

Workplace violence is any act or threat of physical violence, harassment, intimidation, or other threatening disruptive behavior that occurs at the work site. It ranges from threats and verbal abuse to physical assaults and even homicide. It can affect and involve employees, clients, customers and visitors. Homicide is currently the fourth-leading cause of fatal occupational injuries in the United States. According to the Bureau of Labor Statistics Census of Fatal Occupational Injuries (CFOI), of the 4,679 fatal workplace injuries that occurred in the United States in 2014, 403 were workplace homicides. [More...] However it manifests itself, workplace violence is a major concern for employers and employees nationwide.

Who is at risk of workplace violence?

Nearly 2 million American workers report having been victims of workplace violence each year. Unfortunately, many more cases go unreported. Research has identified factors that may increase the risk of violence for some workers at certain worksites. Such factors include exchanging money with the public and working with volatile, unstable people. Working alone or in isolated areas may also contribute to the potential for violence. Providing services and care, and working where alcohol is served may also impact the likelihood of violence. Additionally, time of day and location of work, such as working late at night or in areas with high crime rates, are also risk factors that should be considered when addressing issues of workplace violence. Among those with higher-risk are workers who exchange money with the public, delivery drivers, healthcare professionals, public service workers, customer service agents, law enforcement personnel, and those who work alone or in small groups.

How can workplace violence hazards be reduced?

In most workplaces where risk factors can be identified, the risk of assault can be prevented or minimized if employers take appropriate precautions. One of the best protections employers can offer their workers is to establish a zero-tolerance policy toward workplace violence. This policy should cover all workers, patients, clients, visitors, contractors, and anyone else who may come in contact with company personnel.

By assessing their worksites, employers can identify methods for reducing the likelihood of incidents occurring. OSHA believes that a well-written and implemented workplace violence prevention program, combined with engineering controls, administrative controls and training can reduce the incidence of workplace violence in both the private sector and federal workplaces.

This can be a separate workplace violence prevention program or can be incorporated into a safety and health program, employee handbook, or manual of standard operating procedures. It is critical to ensure that all workers know the policy and understand that all claims of workplace violence will be investigated and remedied promptly. In addition, OSHA encourages employers to develop additional methods as necessary to protect employees in high risk industries.

Moveover Motors Ltd (MML), located in Melbourne, produces and sells a medium-sized family car called the Moveover Magnet. The company has been producing cars for the Australian market for over 30 years and began exporting a limited number of cars to the United States about 10 years ago. MML is a subsidiary of a Polish multinational that has not been satisfied with the losses that the company has been making in the last few years. The parent company in Poland is threatening to close the Australian factory unless MML can produce a profit in the next year of operations. The factory currently has a capacity to produce 50,000 cars per year but all realistic estimates of its market size, including the exports to the United States, suggest that it will not sell more than 30,000 cars per year in any of the next 5 years.

Jane Woodall, MML’s CEO, was very concerned about MML’s poor profitability. She asked Lester Bush, financial controller and Max Lemond, production manager, to see if there were ways to reduce costs and improve profitability.

Lester analysed the cost structure of MML and found the following:Variable cost- $15,000 per car

Fixed cost- $450,000,000 for 30,000 cars, or $15,000 per car

Selling and administrative expenses: Variable cost- $5,000 per car

Fixed cost- $180,000,000
During the year end 30 June 2017, MML sold 28,000 Moveover Magnets for $40,000 each.

Lester considered the fact that the capacity of the factory significantly exceeds the production levels and realised that significant savings could be made in both the production and administrative fixed expenses if some of the factory were disposed of. He estimated that by reducing the capacity to 30,000 cars per year, the fixed manufacturing costs would fall to $300 million and the fixed administrative costs would decrease to $160 million.

Before Lester could report back to Jane, Max returned with a proposal to reduce the variable costs to 30% of revenues by reducing the costs MML incurred for safe disposal of wasted metals. Lester was concerned that this would expose the company to potential environmental liabilities and he let Max know it.

3

Case Study

Case Study Presentation (10%)

Lester: Max, we would need to estimate the potential environmental costs and include them in your Analysis.

Max: You can’t do that. We are not violating any laws. There is some possibility that we may have to incur environmental costs in the future, but if we bring it up now, this proposal will not go through because our senior management always assumes these costs to be larger than they turn out to be. The market is tough, and we are in danger of shutting down the company. I don’t want all my colleagues to lose their jobs. The only reason our competitors are making money is because they are doing exactly what I am proposing...

Make recommendations for improving the profitability of Moveover Magnets.

1. Which of the following is true for trade based on increasing returns?

A) the two countries differ in their production technologies

B) the two countries differ in their factor endowments

C) the pattern of trade is undetermined

D) there is no benefit from trade

2. If Japan is relatively capital rich and the United States is relatively land rich, then trade between those two formerly autarkic countries will:

A) lead to perfect specialization with Japan alone producing manufactures

B) create a world relative price of food that is lower than that of the US

C) lower the price of food in both countries

D) raise the price of food in both countries

E) none of the above

3. Which of the following is true?

A) for external economics, average cost decrease with industry level output; for internal returns to scale, average cost decreases with firm's level of output

B) for external economics, average cost increases with industry level output; for internal returns to scale, average cost increases with a firm's level of output

C) external economics is the same as internal returns to scale

D) for external economics, average cost decreases with firm level of output; for internal returns to scale, average cost decreases with industry level of output

4. For the monopolistic competition model:

A) it takes collusion among firms into consideration

B) it takes firms' strategic behavior into consideration

C) it takes both collusion and strategic behavior into consideration

D) it does not take strategic behavior into consideration

5. For the Ricardian Model:

A) the relative derived demand for home labor increases when the ratio of home to foreign wage increases

B) the relative derived demand for home labor does not change when the ratio of home to foreign wage increase

C) the relative derived demand for home labor decreases when the ratio of home to foreign wage increases as home labor becomes more expensive relative to foreign labor, goods produced in home also become more expensive, and world demand for these goods fall

D) there is no systematic relationship between the relative derived demand for home labor and the ratio of home to foreign wage

6. The Ricardian model is based on all of the following EXCEPT:

A) only two nations and two products

B) no diminishing returns

C) labor is the only factor of production

D) product quality varies among nations

E) none of the above

7. In order to know whether a country has a comparative advantage in the production of one particular product we need information on at least ----- unit labor requirements.

A) 1

B) 2

C) 3

D)4

E)5

8. The simultaneous export and import of widgets by the United States is an example of:

A) decreasing returns to scale

B) perfect competition

C) intra-industry trade

D) inter-industry trade

E) none of the above

1.) In the library on a university campus, there is a sign in the elevator that indicates a limit of 16 persons. In addition, there is a weight limit of 2,500 pounds. Assume that the average weight of students, faculty, and staff on campus is 155 pounds, that the standard deviation is 27 pounds, and that the distribution of weights of individuals on campus is approximately normal. Suppose a random sample of 16 persons from the campus will be selected.

a. What is the standard deviation of the sampling distribution of x bar?

b. What mean weights (in pounds) for a sample of 16 people will result in the total weight exceeding the weight limit of 2,500 pounds? The mean weight of 16 persons needs to be greater than _____lbs to exceed the weight limit of the elevator.

c. What is the probability that a random sample of 16 people will exceed the weight limit? (Use a table or technology. Round your answer to four decimal places.)

2. In a survey of 485 potential jurors, one study found that 340 were regular watchers of at least one crime-scene forensics television series. Assuming that it is reasonable to regard this sample of 485 potential jurors as representative of potential jurors in the United States, use the given information to construct a 95% confidence interval for the true proportion of potential jurors who regularly watch at least one crime-scene investigation series. (Use Table 3 in Appendix A. Give the answer to three decimal places.) ( ______, ________) please in this form.

3. In a survey of 1000 randomly selected adults in the United States, participants were asked what their most favorite and what their least favorite subject was when they were in school (Associated Press, August 17, 2005). In what might seem like a contradiction, math was chosen more often than any other subject in both categories! Math was chosen by 224 of the 1000 as the favorite subject, and it was also chosen by 366 of the 1000 as the least favorite subject.

(_____, .2498)

4. Many consumers pay careful attention to stated nutritional contents on packaged foods when making purchases. It is therefore important that the information on packages be accurate. A random sample of n = 12 frozen dinners of a certain type was selected from production during a particular period, and the calorie content of each one was determined. (This determination entails destroying the product, so a census would certainly not be desirable!) Here are the resulting observations, along with a boxplot and normal probability plot

the values are

a. Carry out a formal test of the hypotheses suggested in part (b). (Use Table 4 in Appendix A. Use α = 0.05. Round your test statistic to two decimal places and your P-value to three decimal places.)

t= ___

df= 11

P= ___

please answer all parts, i appreciate it.