Please type answer, can't see written answers well.

Also PLEASE PROVIDE BELL SHAPED CURVE** That is the part I struggle with the most.

The airlines industry measures fuel efficiency by calculating how many miles one seat can travel, whether occupied or not, on one gallon of jet fuel. The following data show the fuel economy, in miles per seat for 17 randomly selected flights on Delta and United. Assume the two population variances for fuel efficiency for the two airline are equal.

Delta

United

a. Conduct a the 95% confidence interval estimate of the population?

b. Perform a hypothesis test using α = .05 to determine if the average fuel efficiency  differs between the two airlines.

c. Determine the p-value and interpret the results.

Many reasons for why the United Kingdom voted to leave the European Union have been proposed. A common one is that imports from the EU hurt low-skilled British workers. Suppose that there are two industries, financial services and manufacturing. Further assume that there are two factors of production, low- skilled and high-skilled workers, and that finance is high-skill intensive and manufacturing is low-skill intensive. Further assume that the United Kingdom is abundant in high-skill labour.

a) Show using the Heckscher-Ohlin model of international trade how relative wages for low-skilled and high-skilled workers are determined when the UK is a member of the EU (i.e. when there is free trade between the UK and the rest of the EU). Explain your answer.

b) Now suppose that the UK leaves the EU. For simplicity, we will model this as autarky (i.e. that all trade between the UK and the EU stops). How do real wages of low-skilled and high-skilled workers change (remember that the UK is abundant in high-skilled labour)? Explain your answer.

Many reasons for why the United Kingdom voted to leave the European Union have been proposed. A common one is that imports from the EU hurt low-skilled British workers. Suppose that there are two industries, financial services and manufacturing. Further assume that there are two factors of production, low- skilled and high-skilled workers, and that finance is high-skill intensive and manufacturing is low-skill intensive. Further assume that the United Kingdom is abundant in high-skill labour.

a) Show using the Heckscher-Ohlin model of international trade how relative wages for low-skilled and high-skilled workers are determined when the UK is a member of the EU (i.e. when there is free trade between the UK and the rest of the EU). Explain your answer.

b) Now suppose that the UK leaves the EU. For simplicity, we will model this as autarky (i.e. that all trade between the UK and the EU stops). How do real wages of low-skilled and high-skilled workers change (remember that the UK is abundant in high-skilled labour)? Explain your answer.

Here are book- and market-value balance sheet the United Frypan Company (figures in $ millions): Book-Value Balance Sheet Net working capital $ 40 Debt $ 30 Long-term assets 60 Equity 70 $ 100 $ 100 Market-Value Balance Sheet Net working capital $ 40 Debt $ 30 Long-term assets 195 Equity 205 $ 235 $ 235 Assume that MM’s theory holds except for taxes. There is no growth, and the $30 of debt is expected to be permanent. Assume a 21% corporate tax rate. b. What is United Frypan’s after-tax WACC if rDebt = 7.0% and rEquity = 16.0%? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) c. Now suppose that Congress passes a law that eliminates the deductibility of interest for tax purposes after a grace period of 5 years. What will be the new value of the firm, other things equal? Assume a borrowing rate of 7.0%. (Do not round intermediate calculations. Enter your answer in million rounded to 2 decimal places.)

Consider a single period problem where the riskless interest rate is zero, and there are no taxes. A firm consists of a machine that will produce cash flows of $210 if the economy is good and $80 if the economy is bad. The good and bad states occur with equal probability and the covariance of these states with the market portfolio is zero (no systematic risk). Initially, the firm has 100 shares outstanding and debt with a face value of $50 due at the end of the period.

a.) What is the share price of this firm? (Hint: you need to calculate cash flows to equity holders in the good state and at the bad state of the economy separately. After that, you compute the expected cash flow. Also, don’t forget that debt holders are paid first in both states of the world.)

Suppose the firm unexpectedly announces that it will issue additional debt, with the same seniority as existing debt and a face value of $50. The firm will use the entire proceeds to repurchase some of the outstanding shares.

b.) What is the market price of the new debt? (Hint: in case of bankruptcy, old and new debt holders will split the cash flow proportional to the face value because they have debt of the same seniority.)

c.) Just after the announcement, what will happen to the price of the equity shares?

d.) What has happened to the total value of the firm? Does the Modigliani-Miller (MM) theorem hold in this case?

1) Consider the insoluble compound cobalt(II) carbonate , CoCO₃. The cobalt(II) ion also forms a complex with ammonia . Write a balanced net ionic equation to show why the solubility of CoCO₃(s) increases in the presence of ammonia and calculate the equilibrium constant for this reaction.

For Co(NH₃)₆²⁺, K_f = 1.3×10⁵. Use the pull-down boxes to specify states such as (aq) or (s).
K_net =

2) Consider the insoluble compound nickel(II) carbonate, NiCO₃. The nickel ion also forms a complex with cyanide ions. Write a balanced net ionic equation to show why the solubility of NiCO₃(s) increases in the presence of cyanide ions and calculate the equilibrium constant for this reaction.

For Ni(CN)₄^2-(aq), K_f = 2.0×10³¹. Use the pull-down boxes to specify states such as (aq) or (s).

K_net =

3) Consider the insoluble compound zinc sulfide, ZnS. The zinc ion also forms a complex with hydroxide ions. Write a balanced net ionic equation to show why the solubility of ZnS(s) increases in the presence of hydroxide ions and calculate the equilibrium constant for this reaction.

For Zn(OH)₄^2-, K_f = 4.6×10¹⁷. Use the pull-down boxes to specify states such as (aq) or (s).

K_net =

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The Bartonia Company manufactures grommets in Georgia and sell them directly to industrial customers in Georgia, Florida, and South Carolina. The company’s profit for last year was $20,000,000. The company has its manufacturing plant and headquarters in Georgia, warehouses in South Carolina and Florida, and sales forces in each state. Here are some of its financial statistics:

1. Suppose each state uses a simple three-factor apportionment formula. What share of company profit would each state tax?

2. Make that same calculation, but suppose each state double-weights the sales factor.

3. Make the calculation with each using only the sales factor.

4. Assume now that GA adopts the single sales factor and the other states use double-weighted sales.

5. Assume now that South Carolina adopts the single sales factor and the other states use double-weighted sales.

6. Explain why manufacturing firms in some states have pressed for use of the single sales factor. Why have nationwide business organizations not made this switch an issue?

Please answer all parts.

(1) “Sales taxes are fairer than income taxes because sales taxes cannot be avoided by the rich.” Discuss & evaluate this idea, using tax policy concepts to provide support for your evaluation. Is it possible to design a sales tax that is more progressive than a personal income tax? What would this tax structure look like?

(2) The two most important state taxes are income and general sales taxes, although states also make substantial use of excise taxes, direct business taxes (usually a corporate income tax), and others. List and discuss factors that might influence a state in choosing between an income and general sales tax. What can these differences tell us about both a State’s policy priorities and economies? What is the relevance of Charles Tiebout when examining or understanding a State’s fiscal choices as it relates to tax policy?

(3) States are increasingly relying on revenue from gambling to generate funds for their financial plans on annual basis. Lotteries, for example, have been on the rise with states providing their own jackpots, and increasing the jack-pots by utilizing multi-state games. Please provide some of the policy rationale for using this revenue source, along with some of the issues that policy makers should focus on in the future.

Kate recently invested in real estate with the intention of selling the property one year from today. She has modeled the returns on that investment based on three economic scenarios. She believes that if the economy stays healthy, then her investment will generate a 30 percent return. However, if the economy softens, as predicted, the return will be 10 percent, while the return will be -25 percent if the economy slips into a recession.

1) If the probabilities of the healthy, soft, and recessionary states are 0.6 , 0.3 , and 0.1 , respectively, then calculate the coefficient of variation for the investment?

2) Barbara is considering investing in a stock and is aware that the return on that investment is particularly sensitive to how the economy is performing. Her analysis suggests that four states of the economy can affect the return on the investment. Using the table of returns and probabilities below calculate the coefficient of variation for the investment?

3) Ben would like to invest in gold and is aware that the returns on such an investment can be quite volatile. Use the following table of states, probabilities, and returns and calculate the coefficient of variation for the investment?