Housing Price and Land Bid-Rent Numbers
Consider a monocentric city where the cost of commuting is $40 per mile per month. A household located eight miles from the city center occupies a dwelling with 1,000 square feet at a monthly rent of $600. Nonland cost per dwelling is $250, and there are 10 houses per hectare.

a) The price of housing at a distance of eight miles is _____________ per square foot, computed as ......................

2. b) The bid rent for land at a distance of eight miles is ___________ per hectare, computed as ......................
3. c) Assume that the demand for housing is perfectly inelastic. The price of housing at a distance of five miles is ______________ per square foot, computed as ......................
4. d) Assume that housing firms do not engage in factor substitution. The bid rent for land at a distance of five miles is ______________ per hectare, computed as ..................
5. e) Suppose consumers engage in consumer substitution and firms engage in factor substitution. The bid rent for land at a distance of five miles would be [greater, less] than the number computed in part (d) because ...................

Joel Harvey Florists acquired a truck on January 1, 2007.  The company paid $11,000 for the truck, $500 for destination charges, and $250 to paint the company name on the side of the truck. The company’s accounting manager estimates the truck to have a five-year useful life and a residual value of $1,750. The truck is expected to be driven 100,000 miles in five years.  It is actually driven 15,000 miles in 2007, 25,000 miles in 2008, 30,000 miles in 2009, 25,000 miles in 2010, and 5,000 miles in 2011.

Part 1

On January 1, 2007, how much should Joel Harvey Florist capitalize for the cost of the truck? Write the journal entry.

Part 2

How much depreciation expenses that would be recorded for the years 2007 through 2011 using each of the following methods?

a.         Straight-line

b.         Unit-of-production

c.         Declining-balance

Part 3

On December 31, 2011, Joel Harvey sold the truck for $3,000 cash.  Compute the gain or loss on sale. Write the journal entry.

Summary

Jason, Samantha, Ravi, Sheila, and Ankit are preparing for an upcoming marathon. Each day of the week, they run a certain number of miles and write them into a notebook. At the end of the week, they would like to know the number of miles run each day and average miles run each day.

Instructions

Write a program to help them analyze their data. Your program must contain parallel arrays: an array to store the names of the runners and a two-dimensional array of five rows and seven columns to store the number of miles run by each runner each day. Furthermore, your program must contain at least the following functions:

• a function to read and store the runners’ names and the numbers of miles run each day;
• a function to calculate the average number of miles run each day;
• and a function to output the results. (You may assume that the input data is stored in a file and each line of data is in the following form: runnerName milesDay1 milesDay2 milesDay3 milesDay4 milesDay5 milesDay6 milesDay7.)

According to Energy Information the average gas mileage of all automobiles is 21.4 miles per gallon. For a random sample of 40 sport utility vehicles, the mean gas mileage is 19.8 miles per gallon with a standard deviation of 3.5 miles per gallon. Test the claim that the mean mileage of all SUVs is different than the gas mileage of all automobiles.

a) z = 2.89 and a p value of .9938 .9938 < 0.05 There is not sufficient evidence to support the alternative hypothesis that the mean gas mileage of all SUVs is greater than 21.4 miles per gallon.

b) z = -2.89 and a p value of .0019 .0019 < 0.05 There is sufficient evidence to support the alternative hypothesis that the mean gas mileage of all SUVs is greater than 21.4 miles per gallon.

c) z = 2.89 and a p value of .9938 x 2 1.99 > 0.05 There is sufficient evidence to support the alternative hypothesis that the mean gas mileage of all SUVs is greater than 21.4 miles per gallon.

d) z = -2.89 and a p value of .0019 x 2 .0038 < 0.05 There is sufficient evidence to support the alternative hypothesis that the mean gas mileage of all SUVs is greater than 21.4 miles per gallon.

6. Amy Lloyd is interested in leasing a new Honda and has contacted three automobile dealers for pricing information. Each dealer offered Amy a closed-end 36-month lease with no down payment due at the time of signing. Each lease includes a monthly charge and a mileage allowance. Additional miles receive a surcharge on a per-mile basis. The monthly lease cost, the mileage allowance, and the cost for additional miles follow:

Amy decided to choose the lease option that will minimize her total 36-month cost. The difficulty is that Amy is not sure how many miles she will drive over the next three years. For purposes of this decision, she believes it is reasonable to assume that she will drive 12,000 miles per year, 15,000 miles per year, or 18,000 miles per year. With this assumption Amy estimated her total costs for the three lease options. For example, she figures that the Hepburn Honda lease will cost her 36($299) + $0.15(36,000 - 36,000) = $10,764 if she drives 12,000 miles per year, 36($299) + $0.15(45,000 - 36,000) = $12,114 if she drives 15,000 miles per year, or 36($299) + $0.15(54,000 - 36,000) = $13,464 if she drives 18,000 miles per year.

Construct a payoff table for Amy's problem.   If Amy has no idea which of the three mileage assumptions is most appropriate, what is the recommended decision (leasing option) using the optimistic approach?

a.Hopkins Automotive

b.Midtown Motors

c.Hepburn Honda

On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows:

On January 2, Park borrowed $60,000 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand’s total fair value. The $60,000 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent).

On a consolidated balance sheet as of January 2, what should be the amount for current assets?

On a consolidated balance sheet as of January 2, what should be the amount for noncurrent assets?

Teton Village, Wyoming, near Grand Teton Park and Yellowstone Park, contains shops, restaurants, and motels. The village has two peak seasons---winter, for skiing on the 10,000-foot slopes, and summer, for tourists visiting the parks. The number of visitors(in thousands) by quarter for five years can be found in Data Table Two below

1.Develop the typical seasonal pattern for Teton Village

2. Determine the seasonally adjusted number of visitors for winter 2011.

Data Table Two

Please post the answer with the work performed in excel and not just the answer, need to show work as I don't understand how to do this and would like the steps so that I can also learn it and it shows all work. You can add screenshots of the steps to find the answer in excel.

Park Rangers in a Yellowstone National Park have determined that fawns less than 6 months old have a body weight that is approximately normally distributed with a mean µ = 26.1 kg and standard deviation σ = 4.2 kg. Let x be the weight of a fawn in kilograms. Complete each of the following steps for the word problems below:  Rewrite each of the following word problems into a probability expression, such as P(x>30).  Convert each of the probability expressions involving x into probability expressions involving z, using the information from the scenario.  Sketch a normal curve for each z probability expression with the appropriate probability area shaded.  Solve the problem.

1. What is the probability of selecting a fawn less than 6 months old in Yellowstone that weighs less than 25 kilograms?

2. What is the probability of selecting a fawn less than 6 months old in Yellowstone that weighs more than 19 kilograms?

3. What is the probability of selecting a fawn less than 6 months old in Yellowstone that weighs between 30 and 38 kilograms?

4. If a fawn less than 6 months old weighs 16 pounds, would you say that it is an unusually small animal? Explain and verify your answer mathematically.

5. What is the weight of a fawn less than 6 months old that corresponds with a 20% probability of being randomly selected? Explain and verify your answer mathematically.

On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows:

On January 2, Park borrowed $66,000 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand’s total fair value. The $66,000 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent).

(1) On a consolidated balance sheet as of January 2, what should be the amount for current assets?

(2) On a consolidated balance sheet as of January 2, what should be the amount for non current assets?

The U.S. Department of Agriculture defines a food desert as a census tract in which a sizable percentage of the tract's population resides a long distance from the nearest supermarket or large grocery store. Below are fabricated data for ten census tracts. The independent variable is percent low-income residents, the dependent variable is the distance (in miles) between each tract and the nearest grocery store. The hypothesis: In a comparison of census tracts, those with higher percentages of low-income residents will be farther from the nearest grocery store than will tracts having lower percentages low-income residents.

Census Tract                                                                   Percent-Low Income (x)                                                    Distance in Miles (y)

Tract 1                                                                                            0                                                                                      .2

Tract 2                                                                                            0                                                                                      .4

Tract 3                                                                                          10                                                                                      .5

Tract 4                                                                                          10                                                                                      .7

Tract 5                                                                                          20                                                                                      .8

Tract 6                                                                                          20                                                                                      1.0

Tract 7                                                                                          30                                                                                      1.1

Tract 8                                                                                          30                                                                                      1.3

Tract 9                                                                                          40                                                                                      1.4

Tract 10                                                                                        40                                                                                       1.6

(A.) What is the regression equation for this relationship? Interpret the regression coefficient. What exactly, is the effect of x on y? (Hint: The table gives information on the independent variable in ten-unit changes: 0 percent, 10 percent, 20 percent, and so on. Remember that a regression coefficient estimates change in the dependent variable for each one-unit change in the independent variable.)

(B.) Interpret the y-intercept. What does the intercept tell you exactly?

(C.) Based on this equation, what is the predicted value of y for census tracts that are 15 percent low-income? Census blocks that are 25 percent low-income?