Lucinda Lacy purchased a foreclosed house today for $105,500 by making a down payment of 15% of the purchase price and paying closing costs of:

Loan origination fee                1.7% of purchase price

Appraisal fee                           $325

Survey fee                               210

Attorney’s fee                         420

Processing fee                         300

Escrow fee                              240

Other miscellaneous costs       620

Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes and insurance are $375 per month. Lucinda has an estimate for a contract for $8,500 firm, fixed price to remodel the house and this expense will be equally distributed over the period of her ownership. After remodeling, she estimates that she could sell the house for $135,000. Her selling expenses would be 7% sales commission plus $1000.

- draw the cash flow diagram?

-  manual (handwritten), calculations, including the ball-park method?

- hand calculating not excel?

1. Describe the main difference between direct materials and indirect materials that are used in any given production process.

2. The Cheepencheerful Bakery Company produces muffins that it sells to hotel chains in the city. It generally breaks even at the end of the year but not always. It only knows this when the company’s external accountants prepare financial statements that are used by the bank and to file tax returns. The company does its best to keep its costs down and as a result does not pay its employees very much.

When the president’s wife, who is the bookkeeper, decided to retire, the president advertised for her replacement. He felt he could find someone who would work for slightly more than minimum wage. This would be in line with his desire to keep costs down.

Comment on the president’s desire to keep his costs down by hiring a poorly paid accountant for his organization.

In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more "conservative" answer.

Suppose that at five weather stations on Trail Ridge Road in Rocky Mountain National Park, the peak wind gusts (in miles per hour) for January and April are recorded below.

Does this information indicate that the peak wind gusts are higher in January than in April? Use α = 0.01. Solve the problem using the critical region method of testing. (Let d = January − April. Round your answers to three decimal places.)

In early March, 2020, our state government announced tentative plans to move homeless people in to college dorm rooms. A. In your opinion, is this idea a good idea? Or a bad idea? Why? B. Would you make this program voluntary for homeless people? Or mandatory? Why? C. How vigorously would you enforce this program? Why? D. What penalties, if any, would you impose on homeless people for non-compliance? Why? E. In theory, what could ‘go wrong’ with the enforcement of this program? What other support services do homeless people require, in addition to housing? F. Moving homeless people into hotel rooms, (combined with support services), which our state has done on an unprecedented level, may be a better idea than moving them into college dorms. Why? G. In your opinion, what more should we be doing as a society to address this issue? Why?

In this problem, assume that the distribution of differences is approximately normal. Note: For degrees of freedom d.f. not in the Student's t table, use the closest d.f. that is smaller. In some situations, this choice of d.f. may increase the P-value by a small amount and therefore produce a slightly more "conservative" answer. Suppose that at five weather stations on Trail Ridge Road in Rocky Mountain National Park, the peak wind gusts (in miles per hour) for January and April are recorded below. Wilderness District 1 2 3 4 5 January 133 122 134 64 78 April 110 97 107 88 61 Does this information indicate that the peak wind gusts are higher in January than in April? Use α = 0.01. Solve the problem using the critical region method of testing. (Let d = January − April. Round your answers to three decimal places.) test statistic = critical value =

Question 7

In Santa Monica, California, it was reported that a “finder’s fee”—an up-front payment of up to $5,000—was being required of prospective tenants seeking to rent special apartments. What is this an example of?

the black market

a price floor

price gouging

a government price ceiling

Question 8

Mesa Petroleum Company built a small park in front of its corporate office. This is an example of __________.

imposing external costs on its shareholders

providing a pure public good

providing external benefits to the community

assuming city responsibilities

Question 9

What is the most frequently cited example of an externality?

service charges

public protest

pollution

sales taxes

Question 10

A negative externality exists when __________.

all costs are taken into account in the demand curve

all costs are taken into account in the supply curve

the market demand curve is not the true demand curve

the marginal social costs are not taken into account in the supply cur

1. One investing firm is assessing an opportunity of a real estate investment. The project requires 4.5 million CAD at the beginning of the first year to start up the first complex and 1.6 million CAD at the beginning of the second year to start the second complex. Upon completion in two years, a hotel industry customer would purchase the whole project for 8.7 million CAD. If the average secure interest rate from a bank is 4%, determine the return rate of the investment.

2. One investor wants to buy an apartment for 370,000 CAD. He then wants to rent his property for 1700 CAD a month for a year and after the year sell it for 475,000 CAD. The bank guaranteed him a return rate of 3% per annum through a mutual fund investment that can be calculated monthly. This means the investor can invest the rent money in the bank. The investor wants to know what the return rate of this investment is.

Citizen Potawatomi Nation offers many services to its citizens and to other Native Americans throughout its tribal jurisdiction, including housing, community, education, health, veterans, elder and career services. Citizen Potawatomi Nation dedicates resources through federal funding, grants and tribal revenue to provide these and other services to the tribal and community citizens who need them most. In 2011, Citizen Potawatomi Nation clinics had more than 62,000 patient visits, filled more than 1530,000 prescriptions, served more than 14,000 meals to the elderly, assisted nearly 3,000 families through Indian Child Welfare and provided 3,100 scholarships to students.

Citizen Potawatomi Nation has several tribal enterprises that provide services to our citizens and create a substantial economic impact in our communities. Our businesses further the success and prosperity of the Nation by providing employment opportunities for tribal citizens and revenue to support tribal operations.

Our enterprises provide the economic foundation to diversify and expand our current business operations and provide for expanded economic growth in our communities.

With more than 2,200 employees, Citizen Potawatomi Nation operates a variety of tribal enterprises including First National Bank, Grand Casino Hotel & Resort Resort, FireLake Discount Foods and the Community Development Corporation.

Citizen Potawatomi Nation owns and operates the largest tribally owned grocery store in the United States. Our enterprises provide services to our citizens and create a substantial economic impact in our communities. Our businesses further the success and prosperity of the Nation by providing employment opportunities for tribal citizens and revenue to support tribal operations.

Citizen Potawatomi Nation operates two casinos, as well as multiple entertainment venues, retail shops, fuel and convenience stores, golf courses, museums and hotels. Visit one of our entertainment destinations for an evening out or a day of family fun.

Opened in 2006 as Grand Casino, Pottawatomie County’s premier gaming destination includes 2,000 of the latest in Vegas-style slots, various table games and Oklahoma’s only Keno lounge on its 125,000 square feet of gaming space.

In 2014, a “Grand” expansion took place with the addition of a 14-story luxury hotel tower, dining selections such as Flame Brazilian Steakhouse and Grand Café, as well as longtime staples The Grand Buffet and The Grand Stand Sports Grille. The added Grand Event Center hosts top-name entertainers, sporting events and conferences for all business and professional sectors, making Grand Casino Hotel and Resort the premier destination for work and play, located just a few minutes’ drive from Oklahoma City.

First National Bank & Trust Co. is the largest tribally owned national bank in the United States. FNB has branches in Shawnee, Holdenville, Granite, Mangum and two in Lawton, Oklahoma.

First National Bank & Trust Co. began when the charter for First Oklahoma Bank, N.A., was approved on June 30, 1983. With a capital structure of $2.5 million, the bank opened its doors on Oct. 29, 1984. The original incorporators were C. L. Craig Jr., Mark Finley, David Ingram, Jerald O'Connor, Frank Sims and Stephen Sims. Citizen Potawatomi Nation purchased the bank in February 1989.

Since its founding in 1983, First National Bank & Trust Co. has grown steadily through sound financial management practices and by investing time, energy and resources in the communities we serve.

Clive Palmer treated Queensland Nickel as $200m

Piggy BankClive Palmer is accused of being a reckless, shadow company director who took$200 million out of a Queensland nickel company to fund his political party andinvestments, including a new Titanic.

Administrators of Queensland Nickel, which closed last month, said yesterday thecompany was used as a “piggy bank” to finance what they termed the “Palmerempire”.

More than $200 million was taken out of the company over a five-year period andpumped into companies that were directly related to Mr Palmer, including hisflagship business Mineralogy, FTI Consulting said in its report.

But John Park, from FTI, said his investigations found $189 million in loans tocompanies linked to Mr Palmer were “forgiven” or not paid back to QueenslandNickel, including $5.9 million that went into the plans for the Titanic II.

Of the money that went into the Titanic, most was spent on lavish launch partieswith the only assets now some intellectual property and a “plastic boat”.

The company also became the single biggest political donor in the country,delivering $21.5 million to the Palmer United Party.

The administrators said Queensland Nickel accounted for 27 per cent of thenation’s total political donations in 2014 and last year, including the WA Senateby-election when Palmer United’s Dio Wang was elected.

While money was flowing out of the nickel company into the Palmer CoolumResort and other firms, the world nickel price was falling.

Mr Park said the borrowing from the company could have continued if nickelprices remained high.

“At a very high level, we saw Queensland Nickel as what I’d say (was) the piggybank, the treasury,” Mr Park said.

“And the money was coming through Queensland Nickel in the better times and itwas being dissipated amongst the Palmer empire entities.”

Up to 800 workers are owed $74 million in entitlements.

They are likely to get most of those entitlements paid out under a FederalGovernment program. Remaining creditors will likely get between nothing and 50¢for every dollar owed.

The administrators believe Mr Palmer and his nephew Clive Mensink, QueenslandNickel’s sole director, should be examined by the Australian Securities andInvestments Commission.

They claimed Mr Palmer acted as “shadow director” and that he and Mr Mensinkhad been “reckless in exercising their duties and powers as directors” for takingactions not in the interests of Queensland Nickel.

Mr Palmer is planning to fight any action and argued he was being singled outwhen Prime Minister Malcolm Turnbull was standing by as jobs disappeared in Queensland.

“Despite me controlling a lot of things, being Dr Evil, if you like, I don’t controlthe world’s international nickel price,” he told Melbourne radio.

Mr Palmer said there was a witch-hunt against him for making decisions that hewas entitled to make.

“I mean, that's my money. That's what we live in - a free society, and people havethe right to spend their money as they see fit,” he told the Seven Network.

Mr Palmer is the sole shareholder of Queensland Nickel. His nephew Mr Mensink isthe sole company director. The Administrators believe that Mr Palmer should beexamined by ASIC for breach of s184 of the Corporations Act.

Do you think ASIC would be successful in charging Mr. Palmer for breach of s184of the Corporations Act?

We need to find the confidence interval for the SLEEP variable. To do this, we need to find the mean and standard deviation with the Week 1 spreadsheet. Then we can the Week 5 spreadsheet to find the confidence interval.

First, find the mean and standard deviation by copying the SLEEP variable and pasting it into the Week 1 spreadsheet. Write down the mean and the sample standard deviation as well as the count. Open the Week 5 spreadsheet and type in the values needed in the green cells at the top. The confidence interval is shown in the yellow cells as the lower limit and the upper limit.

1. Give and interpret the 95% confidence interval for the hours of sleep a student gets. Change the confidence level to 99% to find the 99% confidence interval for the SLEEP variable.

2. Give and interpret the 99% confidence interval for the hours of sleep a student gets.

3. Compare the 95% and 99% confidence intervals for the hours of sleep a student gets. Explain the difference between these intervals and why this difference occurs.

In the Week 2 Lab, you found the mean and the standard deviation for the HEIGHT variable for both males and females. Use those values for follow these directions to calculate the numbers again.

(From Week 2 Lab: Calculate descriptive statistics for the variable Height by Gender. Click on Insert and then Pivot Table. Click in the top box and select all the data (including labels) from Height through Gender. Also click on “new worksheet” and then OK. On the right of the new sheet, click on Height and Gender, making sure that Gender is in the Rows box and Height is in the Values box. Click on the down arrow next to Height in the Values box and select Value Field Settings. In the pop up box, click Average then OK. Write these down.

Then click on the down arrow next to Height in the Values box again and select Value Field Settings. In the pop up box, click on StdDev then OK. Write these values down.)

You will also need the number of males and the number of females in the dataset. You can either use the same pivot table created above by selecting Count in the Value Field Settings, or you can actually count in the dataset. Then use the Week 5 spreadsheet to calculate the following confidence intervals. The male confidence interval would be one calculation in the spreadsheet and the females would be a second calculation.

4. Give and interpret the 95% confidence intervals for males and females on the HEIGHT variable. Which is wider and why?

5. Give and interpret the 99% confidence intervals for males and females on the HEIGHT variable. Which is wider and why?

6. Find the mean and standard deviation of the DRIVE variable by copying that variable into the Week 1 spreadsheet. Use the Week 4 spreadsheet to determine the percentage of data points from that data set that we would expect to be less than 40. To find the actual percentage in the dataset, sort the DRIVE variable and count how many of the data points are less than 40 out of the total 35 data points. That is the actual percentage. How does this compare with your prediction? Mean ______________ Standard deviation ____________________ Predicted percentage ______________________________ Actual percentage _____________________________ Comparison ___________________________________________________ ______________________________________________________________

7. What percentage of data would you predict would be between 40 and 70 and what percentage would you predict would be more than 70 miles? Use the Week 4 spreadsheet again to find the percentage of the data set we expect to have values between 40 and 70 as well as for more than 70. Now determine the percentage of data points in the dataset that fall within this range, using same strategy as above for counting data points in the data set. How do each of these compare with your prediction and why is there a difference? Predicted percentage between 40 and 70 ______________________________ Actual percentage _____________________________________________ Predicted percentage more than 70 miles ________________________________ Actual percentage ___________________________________________ Comparison ____________________________________________________ _______________________________________________________________ Why? __________________________________________________________ ________________________________________________________________