part A : Is the national crime rate really going down? Some sociologists say yes! They say that the reason for the decline in crime rates in the 1980s and 1990s is demographics. It seems that the population is aging, and older people commit fewer crimes. According to the FBI and the Justice Department, 70% of all arrests are of males aged 15 to 34 years†. Suppose you are a sociologist in Rock Springs, Wyoming, and a random sample of police files showed that of 35 arrests last month, 22 were of males aged 15 to 34 years. Use a 1% level of significance to test the claim that the population proportion of such arrests in Rock Springs is different from 70%.

What is the value of the sample test statistic? (Round your answer to two decimal places.)

Find the P-value of the test statistic. (Round your answer to four decimal places.)

part B: What is your favorite color? A large survey of countries, including the United States, China, Russia, France, Turkey, Kenya, and others, indicated that most people prefer the color blue. In fact, about 24% of the population claim blue as their favorite color.†Suppose a random sample of n = 52 college students were surveyed and r = 9 of them said that blue is their favorite color. Does this information imply that the color preference of all college students is different (either way) from that of the general population? Use α = 0.05.

What is the value of the sample test statistic? (Round your answer to two decimal places.)


(c) Find the P-value of the test statistic. (Round your answer to four decimal places.)

Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term (that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th Edition).

Jim is applying to Big Rock Insurance Company for his term insurance policy.

(a) What is the probability that Jim will die in his 60th year? (Enter your answer to five decimal places.)


Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance? (Round your answer to two decimal places.)
$  

(b) Repeat part (a) for years 61, 62, 63, and 64. (Round your answers to two decimal places.)

What would be the total expected cost to Big Rock Insurance over the years 60 through 64? (Round your answer to two decimal places.)
$  

(c) If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Jim's death, how much should it charge for the policy? (Round your answer to two decimal places.)
$  

(d) If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make? (Round your answer to two decimal places.)

Should you video conference or travel to a business meeting?

1. Suppose you own a profitable small business in Washington, D.C. You desire to hold an essential 1-hour meeting with business executives in New York, NY. You have two options:
2. You can fly to New York. You own 25,000 frequent-flyer miles, which you can return to the airline at any time for a free ticket anywhere in the United States. Thus, you need not pay for your flight to New York. Your only expenditures would be for 15-minute cab rides to and from the airport in D.C. (fares = $25 each way) plus 15-minute cab rides to and from the airport in New York (fares = $25 each way). Or,
3. You can use a video conferencing facility. Last January, you paid $3,000 to obtain access to a video conferencing facility located within your office building for one year. You also must pay $125/hour for each hour the facility is used.

You estimate the meeting will be equally effective (the benefit is assumed to be the same) if held in person or via video conferencing. What option should you choose and why? How should you think about this decision? Make sure to calculate both the implicit and explicit costs of both options. You don’t need to make any additional assumptions other than those given in this scenario to make your decisions. Please also pay attention to the sunk cost that may complicate your decision. Therefore, review the concept of sunk cost very carefully before you complete your post.

Highland, Lowland and Midland are three countries in a continent. The countries engage heavily in trade with each other and have almost identical facilities provided to consumers by both the private sector and public sector. In 2005, Highland had a Nominal bill of its Economy which amounted to 750 million Krona out of which 89% are from traded goods, Midland had a Nominal bill that amounted to 1.4 trillion Dinar out of which 78% are from traded goods and Lowland had a Nominal bill which amounted to 300 million Rand out of which 100% is from traded goods. The following information is given:

E (KRONA|DINAR) = 0.7

E (DINAR|RAND) = 0.495

E (RAND|US DOLLAR) = 1.2

All the above rates are official exchange rates.

Globally, the living standards of all the countries are measured against the living standards in the United States. In order to see that, the BIG MAC Index is used to determine how much the MAC would cost in each of these countries in USD. In Highland, a MAC approximately costs 2 Krona, in Midland, a MAC costs twice as much as in Highlands, In Lowland, a MAC costs around 1.2 Rand and In US, the MAC costs around $6.32.

1. Calculate the Exchange rate of all the currencies per US Dollar at the official rates.
2. Calculate the Nominal GDP and PPP GDP of Highland, Midland and Lowland in US Dollars.
3. What can you conclude from your answers in part B.?
4. In 2006, Highland and Midland jointly invaded Lowland and took over the country. If Highland took 60% of the Nominal GDP and Midland took 40% of the Nominal GDP. What are the percentage increases in their PPP GDP? (Assume all the exchange rates are unchanged)

The following table contains approximate figures for gross domestic product (GDP) and the national debt in the United States for June 2001 and June 2010. The national debt represents the total amount of money owed by the federal government to holders of U.S. securities. All numbers are in trillions of dollars.

Source: “U.S. Treasury, Bureau of Economic Analysis.”

Net public debt is the portion of the national debt that is held outside the federal government and the Federal Reserve System. In June 2001, the net public debt as a percentage of total national debt was __________.

In June 2001, the percentage of the U.S. national debt held by foreigners (external national debt) was ________ .

The fraction of the national debt held by foreigners will eventually need to be repaid to foreigners, thereby reducing the collective purchasing power of Americans. Between 2001 and 2010, the fraction of the national debt held by foreigners __________ .

The absolute level of the debt does not necessarily provide a clear indication of a nation's debt burden. Thus, economists often look at relative measures of the national debt. One possible relative measure of the national debt is the federal debt held by the public (outside the federal government and the Federal Reserve) as a percentage of GDP. In 2001, publicly held debt was _______ of GDP. Between 2001 and 2010, publicly held debt as a percentage of GDP _________ .

1. The market/industry for coffee is competitive. a. Write down the characteristics of perfect competition. b. The coffee market is at long-run equilibrium. Illustrate the long-run equilibrium using diagrams for the coffee market and for a representative coffee farm. c. A severe winter hits Europe and demand for coffee products induces a surge in the demand for coffee. Using your diagrams in part (b), show and explain what happens in the short run to (i) the coffee market and (ii) each existing coffee farm. 2. Australia and 1) United States are trade partners. How would higher interest rates in Australia relative to the US cause the AUD to appreciate. Explain in detail. Illustrate your answer with the demand and supply diagram of the Australian dollar.

2. Explain how the RBA uses open market operations (OMO) to stabilise the target cash rate. In your answer discuss the role of the exchange settlement account.

3. Aggregate Demand – Aggregate Supply Diagram a. Ghana’s economy is operating at long-run equilibrium. Analyse the short-run impact of an adverse (negative) aggregate demand shock on real GDP, unemployment rate, inflation rate, and interest rate. Illustrate your answer with the AS-AD diagram. b. What type of fiscal policy could the government implement to return the economy to its long-run equilibrium level? Explain the transmission process of the policy you identified.

4. The RBA has increased its target interest rate. What would be the impact on the Australian dollar and net exports. In your answer, discuss the actions of Australian residents and foreign residents towards the Australian dollar. Illustrate your answer with the exchange diagram.

D. D. is a 66 year-old female suffering from shortness of breath. She smoked 2 packs a day until she quit 2 years ago. She has a history of bronchiolitis, hyperinflated lungs, pulmonary edema, and syncope. Her primary care practitioner suspects she also has pulmonary hypertension (PH). After examination, D. D. has a PAP of 35mmHg and mild CHF. Citing scholarly resources, answer the following questions: What is pulmonary hypertension and how could D. D. have developed PH? How does her history fit in with her new diagnosis? In addition to the two questions above, select ONE other question from the list below to complete your discussion post. Be sure to cite the sources of your information and clearly identify which supplemental question you chose to answer. How many patients are suffering from COPD in the United States? Do COPD sufferers die of respiratory causes or other causes? (Be sure to cite the data.) What two separate diseases are the main COPD diseases? Give background on each disease. How does COPD correlate with left ventricular pressure and primary heart failure? What are the three types of bronchodilators, and how do they function to alleviate the symptoms of COPD? What are other possible treatments for COPD? Through which mechanism does bronchiolitis cause destruction of alveoli? Is emphysema genetic? Can environmental factors increase the risk of emphyzsema? Why or why not? Is lung transplantation a solution for emphysema? Can new technology be useful in the treatment of emphysema? Why or why not?

1. Cisplatin is a chemotherapy drug. It was the first member of a class of platinum-containing anti-cancer drugs. These platinum complexes react in the body, binding to DNA and causing the DNA strands to cross-link, which ultimately triggers cells to die by apoptosis. Cisplatin can create intra-strand (within a strand) cross-links with purine bases, which are readily excised by the nucleotide excision repair (NER). But cisplatin also creates inter-strand (between strands) crosslinks and these are essential to its activity as chemotherapeutic agent. In humans, the leading cause of cancer deaths worldwide is lung cancer, including non small cell lung carcinoma (NSLC) which accounts for 85% of all lung cancer cases in the United States. Individuals with NSLC are often treated with therapeutic platinum compounds such as cisplatin that cause inter-strand DNA crosslinks. In individuals with NSLC, low expression of BRCA1 in the primary tumor correlated with improved survival after platinum-containing chemotherapy. This correlation implies that low BRCA1 in the cancer, and the consequent low level of DNA repair, causes vulnerability of the cancer to treatment by the DNA cross-linking agents.

(a) How could intra-strand (within a strand) cross-links be repaired by nucleotide excision repair? Be sure to note the key steps.

(b) How could inter-strand (between strands of DNA) cross-links be repaired by nucleotide excision repair? Be sure to note the key steps.

(c) Which type of DNA repair processes typically require BRCA1?

(d) Why might low levels of BRCA1 lead to a better outcome in the treatment of NSLC with cisplatin?

The Chief Executive Officer (CEO) is a top corporate manager whose primary job is to lead the day-to-day running of the corporation and whose primary goal is to maximize shareholder value. To incentivize CEOs, many large corporations have been compensating CEOs with various forms of pay-for-performance in addition to a fixed annual salary. According to some estimates, over the last two decades CEO compensation in the United States has on average increased by 600%, with a disproportionate increase in equity-based compensation (e.g. stock options). These increases in executive compensation, particularly stock options, have generated enormous controversy. The recent high-profile corporate scandals and financial market tsunami have led some observers to argue that the excessive focus on shareholder value maximization in general, and inadequately designed executive compensation in particular, have led to managerial gross misbehavior as well as short-termism. Some argue that rapid increases in executive compensation represent unmerited transfers of shareholder wealth to top executives with limited if any incentive effects, and at times have led to outright frauds. The problem is exacerbated when the CEO is also the chairman of the board of directors. The adverse effects of excessive CEO compensation are particularly severe in countries where institutional checks such as shareholder protection and shareholder activism are weak.

Required：

1. Discuss what the relative strengths and weakness of the corporate governance system are.

2. What respective roles can lawmakers, board of directors, top managers, shareholders, financial intermediaries and the financial media play to ensure a well-functioning financial market? Explain and elaborate each one.

3. Identify any potential conflicts of interest and suggest possible solutions.