You have three tickets to a Celtics game on a night that you are going to be out of town (so the value of unsold tickets is zero to you). There are only four possible buyers of a Celtics ticket. The table below lists the respective reservation prices of these four possible buyers: Customer Reservation Price 1 $25 2 $35 3 $50 4 $60 How much revenue can you generate if you charge a single price of $25 for the three tickets?

a) How much revenue can you generate if you charge a single price of $35 for the three tickets?

b). How much revenue can you generate if you charge a single price of $50 for the three tickets?

c) How much revenue can you generate if you charge a single price of $60 for the three tickets?

d) Which of the prices fetches you the highest revenue?

e) Next, you think about inviting bids using an English auction to sell your tickets. How much revenue can you generate using the English auction mechanism from the sale of the first ticket?

f) How much revenue can you generate using the English auction mechanism from the sale of the second ticket?

g) How much revenue can you generate using the English auction mechanism from the sale of the third ticket?

h) How much total revenue can you generate using the English auction mechanism?

i) Which pricing strategy gives you higher revenue - English Auction or charging a single price?

A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chickens. 55 of the children preferred hamburger and 20 preferred chickens. Set up a 2x2 contingency table using this information and answer the following questions:

What is the probability that a randomly selected individual is an adult?

What is the probability that a randomly selected individual is a child and prefers chicken?

Given the person is a child, what is the probability that this child prefers a

hamburger?

Assume we know that a person has ordered chicken, what is the probability that this individual is an adult?

Are food preference and age statistically independent?

2) Three messenger services deliver to a small town in Oregon. Service A has 60% of all the scheduled deliveries, service B has 30%, and service C has the remaining 10%. Their on-time rates are 80%, 60%, and 40% respectively. Define event O as a service delivers a package on time.

Calculate P(A and O)

Calculate P(B and O)

Calculate P(C and O)

Calculate the probability that a package was delivered on time.

If a package was delivered on time, what is the probability that it was service A?

If a package was delivered 40 minutes late, what is the probability that it was service A?

3) The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6 outages per year.

What is the probability that there will be exactly 3 power outages in a year?

What is the probability that there will be at least 1 power outage in a year?

What is the variance for this distribution?

What is the mean power outage for this nuclear power plant in a decade?

WEEK 1 HOMEWORK (based on your week 1 assignment)

Please answer the following questions in complete sentences.

Identify and define at least 5 fallacies about racism.

What areas of life does racism affect?

Define the two types of racism (institutional and interpersonal).

What is symbolic violence when it comes to race?

At one time Jews dominated basketball; now it is a game almost exclusively for African Americans. The text authors identify at least two reasons why both of these groups came to dominate the game? What are those reasons?

Which group of people erected the original section of the U.S. Capitol building in Washington, D.C.?

List at least 5 examples of how whiteness surrounds us though it often goes unnamed.

Define the phrase “white privilege.” Give at least 3 examples.

Who wrote, “Color is not a human or personal reality; it is a political reality.”

Why do the authors argue that race is a symbolic category?

What is the difference between race and ethnicity?

Briefly describe the case of Abdullah Dolla.

Has race always remained a fixed category in the U.S. or is it more fluid?

Who is Tim Wise?

He argues that before 1600 there was no such thing as the white race. What happened to change this?

What were indentured servants? Where did they come from?

According to Wise, what was the U.S. Civil War fought over?

Name a few of the “carrots” slave owners threw out to poor whites.

How did slavery undermine white working class job?

What did Chalmette, Louisiana do after Hurricane Katrina to keep the town white?

MSI is considering eliminating a product from its ToddleTown Tours collection. This collection is aimed at children one to three years of age and includes “tours” of a hypothetical town. Two products, The Pet Store Parade and The Grocery Getaway, have impressive sales. However, sales for the third CD in the collection, The Post Office Polka, have lagged the others. Several other CDs are planned for this collection, but none is ready for production.

MSI’s information related to the ToddleTown Tours collection follows:

      
*Allocated based on total sales dollars.

MSI has determined that elimination of the Post Office Polka (POP) program would not impact sales of the other two items. The remaining fixed overhead currently allocated to the POP product would be redistributed to the remaining two products.

Required:
1. Calculate the incremental effect on profit if the POP product is eliminated.



2. Should MSI drop the POP product?

3-a. Calculate the incremental effect on profit if the POP product is eliminated. Suppose that $4,000 of the common fixed costs could be avoided if the POP product line were eliminated.



3-b. Should MSI drop the POP product?

MSI is considering eliminating a product from its ToddleTown Tours collection. This collection is aimed at children one to three years of age and includes “tours” of a hypothetical town. Two products, The Pet Store Parade and The Grocery Getaway, have impressive sales. However, sales for the third CD in the collection, The Post Office Polka, have lagged the others. Several other CDs are planned for this collection, but none is ready for production.

MSI’s information related to the ToddleTown Tours collection follows:

      
*Allocated based on total sales dollars.

MSI has determined that elimination of the Post Office Polka (POP) program would not impact sales of the other two items. The remaining fixed overhead currently allocated to the POP product would be redistributed to the remaining two products.

Required:
1. Calculate the incremental effect on profit if the POP product is eliminated.



2. Should MSI drop the POP product?

3-a. Calculate the incremental effect on profit if the POP product is eliminated. Suppose that $1,200 of the common fixed costs could be avoided if the POP product line were eliminated.



3-b. Should MSI drop the POP product?

For this assignment you will need to understand the concepts of the: Project charter, stakeholder analysis and communication planning, scope planning, schedule management and uncertainties in project schedules.

Your company had received a tender to support a French film crew in the town of Sojwe in Botswana.

 You will need to collect and deliver the crew from and to the King Shaka International airport.

 The film crew will bring their own filming equipment.

 The film crew consists of 15 members.

 They will be onsite at the location for 2 weeks.

 You will have two weeks to do the planning and traveling.

 The support team needs to be at the identified location for the deployment.

 The deployment need to be self-sustainable for 2 weeks.

1. Project Charter [20] marks

You need to develop a project charter for the above-mentioned project. The project charter needs to include the following:

 The typical elements of a project charter.

 The project concept.

 The initiation of the project.

2. Stakeholder Analysis and Communication Planning [20] marks

 Develop the project management plan

 Develop a communications plan

 Identify possible communication technologies for the project

3. Scope Planning [25]

 Define the scope for the project.

 Determine the human resources needed for the project.

 Assign responsibility.

Itinerary,

WBS, Responsibility Matrix, and scope included and excluded from the project, identify risks and manage quality

4.Schedule Management [25] marks

 Plan schedule management

 Define activities

 Sequence activities

 Estimate activity resources

 Estimate activity durations

 Develop schedule

 Control schedule

5. Uncertainties in Project Schedules [10] marks

 From the activities which you had identified in your project schedule, develop a PERT TIME ESTIMATE schedule for the activities.

1. Suppose that in a game that you are making, the player wins if her score is at least 100. Write a function called hasWon that takes as a parameter the player score and prints “Game won!” if she has won, but nothing otherwise.

2. In the future, everyone will be able to wear sensors that monitor their health. One task of these sensors is to monitor body temperature: if it falls outside the range 97.9F to 99.3F the person may be getting sick. Write a function called monitor that takes a temperature (in Fahrenheit) as a parameter and prints out a warning if it is not within this range.

3. Write a function called winner that takes as parameters two players’ scores and prints out who is the winner (Player 1 or Player 2). The higher score wins and you can assume that there are no ties.

4. Repeat the previous question, but now assume that ties are possible and that you should report them.

5. Your firm is looking to buy computers from a distributor for $1500 per machine. The distributor will give you a 5% discount if you purchase more than 20 computers. Write a function called cost that takes as a parameter the number of computers you wish to buy and prints the cost of buying them from this distributor.

6. Repeat the previous question, except now you should assume that the cost per machine ($1500 above), the number of computers to get a discount (20 above), and the discount (5% above) are all passed as parameters of the function.

7. The speeding ticket policy in a nearby town is $50 plus $5 for each mph over the posted speed limit. In addition, there is an extra penalty of $200 for all speeds above 90 mph. Write a program that accepts a speed limit and a clocked speed and returns the fine amount (and 0 if within the speed limit).

18. Which pricing orientation is most favored by marketers?

A. profit-oriented

B. market-oriented

C. demand-oriented

D. competition-oriented

E. cost-oriented

19. Which of the following is a pricing objective?

A. shrinkage

B. survival

C. standardization

D. shelter

E. SWOT analysis

20. A form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services is referred to as __________.
A. sales promotion
B. publicity
C. advertising
D. public relations
E. personal selling

30. Channel conflict is most likely to happen in:

A. vertical marketing systems
B. traditional channels of distribution
C. the offices of agents and brokers
D. areas with several local television stations
E. small town Wal Mart stores

31. A pull strategy:

A. involves the manufacturer directing advertising and sale promotions to consumers to encourage them to ask retailers for the product.

B. assures current users they made the right choice.
C. involves manufacturers directing the promotional mix to channel members to encourage them to order and stock the product; personal selling and sales promotions with intermediaries are important.

D. tells people what a product is, what it can do, and where it can be found.
E. shows one brand's strengths relative to those of competitors.

32. Which governmental agency enforces laws/rules pertaining to the “fairness” of advertising as well as false/misleading advertising?

A. Department of Justice
B. Food and Drug Administration
C. National Advertising Federation
D. Federal Environmental Protection Administration
E. Federal Trade Commission