4. Price Index Problem: The following table gives information about weekly per capita food consumption and food prices in Russia before and after the 1917 Communist Revolution. Taking 1913 as the base year, calculate a Food Price Index for 1928 and 1940. Average weekly wages for the years covered in the table were 6 rubles in 1913, 14 rubles in 1928 and 83 rubles in 1940. Using the Food Price Indexes you have just calculated, assess what happened to the real wages of Russian workers between 1913 and 1940.

Food prices in Russia before and after the 1917 Revolution (in rubles per kilogram, except milk in liters and eggs in units)

Foodstuffs consumed weekly                                     Price                    Price                    Price

in Moscow in 1926                          Quantity              1913                     1928                     1940

Black Bread                                     2.46 kgs               0.07                      0.08                      0.85

Wheat flour                                      0.79 kgs               0.12                      0.22                      2.90

Potatoes                                            3.04 kgs               0.05                      0.09                      1.20

Beef                                                    0.92 kgs               0.46                      0.87                  12.00

Mutton                                              0.17 kgs               0.34                      0.79                   14.00

Sugar                                                 0.45 kgs               0.34                      0.62                      3.80

Milk                                                   1.24 ltrs                0.11                      0.06                      2.10

Butter                                                0.11 kgs               1.15                      2.43                    17.50

Eggs                                                   1.60 eggs              0.13                      0.20                      0.85

Sunflower oil                                    0.12 kgs               0.15                      0.53                    15.65

A merry-go-round with a a radius of R = 1.98 m and moment of inertia I = 193 kg-m² is spinning with an initial angular speed of ω = 1.45 rad/s in the counter clockwise direection when viewed from above. A person with mass m = 67 kg and velocity v = 4.9 m/s runs on a path tangent to the merry-go-round. Once at the merry-go-round the person jumps on and holds on to the rim of the merry-go-round.

1) What is the magnitude of the initial angular momentum of the merry-go-round?

2) What is the magnitude of the angular momentum of the person 2 meters before she jumps on the merry-go-round?

3) What is the magnitude of the angular momentum of the person just before she jumps on to the merry-go-round?

4) What is the angular speed of the merry-go-round after the person jumps on?

5) Once the merry-go-round travels at this new angular speed, with what force does the person need to hold on?

6) Once the person gets half way around, they decide to simply let go of the merry-go-round to exit the ride.

What is the magnitude of the linear velocity of the person right as they leave the merry-go-round?

7) What is the angular speed of the merry-go-round after the person lets go?

PLEASE ANSWER CORRECTLY WILL GIVE A THUMBS UP

Excel Hydro took a loan contract which requires a payment of $40 million-plus interest two years after the contract's date of issue. The interest rate on the $40 million face value is 9.6% compounded quarterly. Before the maturity date, the original lender sold the contract to a pension fund for $43 million. The sale price was based on a discount rate of 8.5% compounded semi-annually from the date of sale.

Excel Hydro is also considering building a nuclear power plant, which will be ready for production in 2030. The country's governing body is also considering a decommissioning liability law for the operator to put aside $1 million every month towards decommissioning cost. If the production life of the plant is 60 years and the operator puts the money at the end of the month in a savings account, earning 7.25% compounded monthly.

During the 60 years of the production life of the plant, the operator will put $1 million at the end of the month in a savings account, earning 7.25% compounded monthly. At the end of the production life of the plant, there are no more contributions and the money is expected to grow at the rate of 6% compounded quarterly for the next 30 years.

1.       How many months before the maturity date did the sale take place?

2.       What will be the value of the decommissioning fund after 60 years of production?

3.       What will be the value of the decommissioning fund in 2120?

4.       How much interest is included in the future value in 2120?

A key skill in economics is the ability to use the theory of supply and demand to analyze specific markets. In this week’s discussion, you get a chance to demonstrate your ability to analyze the effects of several “shocks” to the market for coffee. Choose one of the three scenarios below.

Scenario 1: Suppose that, as part of an international trade agreement, the U.S. government reduces the tariff on imported coffee. Will this affect the supply or the demand for coffee? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of coffee? Explain your reasoning.

Scenario 2: Suppose the National Institutes of Health publishes a study finding that coffee drinking reduces the probability of getting colon cancer. How do you imagine this will affect the market for coffee? Why? Which determinant of demand or supply is being affected? Show graphically with before- and after-curves on the same axes. How will this change the equilibrium price and quantity of coffee? Explain your reasoning.

Scenario 3: Combine parts 1 and 2. Suppose that the U.S. government reduces the tariff on imported coffee, and a reputable study is published indicating that coffee drinkers have lower rates of colon cancer. What will the combined impact be on the equilibrium price and quantity of coffee? Explain your reasoning and show graphically. Make sure you think this through carefully!

Prompt

Ortelere, a retired teacher, has built up a substantial amount of funds in her retirement plan before she retired because of "involutional psychosis" (a form of mental illness).

She has previously specified that a lowered monthly retirement benefit would be paid to her so that her husband would get some benefit from the retirement plan if she died before he did.  After her mental problems began, she changed her payout plan and borrowed from the pension fund (....ok, lady, you're getting the money based on 'your' decision! We have relied on 'your' decision 'today'. Positions are changing, parties will be 'affected' based on 'representations'.)

As a consequence of the changes she made, her husband lost his rights to benefit. Two months after she made the changes, she died. The husband sued to reverse the changes his wife made, claiming she was not of sound mind when she made them.

• Will the changes in the plan be voided? Previously in Chapter 10 you only have the concept of 'consideration' and in chapter 11 we have 'competency'. Even if you argue competency, don't you find this very difficult to prove?
• Explain your answer. This is a good one, have some fun with this. You 'could' argue both sides, who has the stronger position?..... no free lunch, eh? Going to need an 'empathetic judge'?

The credit scores for 12 randomly selected adults who are considered high risk borrowers before and two years after they attend a personal finance seminar are given below.

You will run a significance test to check if there is enough evidence to support the claim that the personal finance seminar helps adults increase their credit scores.

You’ll use α = 0.01 for significance test.

1. 1. Write out the null and alternative hypothesis associated with the research question.
2. 2. What type of statistical test will you use to answer the proposed research question? (Note: Is this a z-test or a t-test for independent or dependent samples)
3. 3. What is the critical value at the 0.01 level of significance? Be sure and include whether this critical value is a z or t value and, if appropriate, include the degrees of freedom associated with this statistical test.
4. 4. What is the standardized test statistic?
   5. At 0.01 significance level what decision should be made about the null hypothesis? In other words, should you reject or retain the null hypothesis?
   6. Provide a brief conclusion regarding your findings.
   7. Show your excel output

Consider the following scenario:

Deer Valley Lodge, a ski resort in the Wasatch Mountains of Utah, has plans to eventually add five new chairlifts. Suppose that one lift costs $2 million, and preparing the slope and installing the lift costs another $1.3 million. The lift will allow 300 additional skiers on the slopes, but there are only 40 days a year when the extra capacity will be needed. (Assume that Deer Valley Lodge will sell all 300 lift tickets on those 40 days.) Running the new lift will cost $500 a day for the entire 200 days the lodge is open. Assume that the lift tickets at Deer Valley cost $55 a day. The new lift has an economic life of 20 years.

i.) Assume that the before-tax required rate of return for Deer Valley is 14%. Compute the before-tax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer.

ii.) Assume that the after-tax required rate of return for Deer Valley is 8%, the income tax rate is 40%, and the MACRS recovery period is 10 years. Compute the after-tax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer.

iii.) What subjective factors would affect the investment decision?

A receptionist/bookkeeper at a small dental practice was the only one who knew the software to track patient data (i.e. bills, payments) as well as being the one who prepared deposits of receipts for the bank. She figured out how she can input data and prepare a deposit slip for the owner to take to the bank before inputting cash into the system. The deposit slip given to the owner did not show certain cash receipts, and hence he had no idea the bookkeeper had in fact pocketed the money. She entered the cash into the system after printing the deposit slip, just in case a patient should ever be questioned about his or her account. The bookkeeper left the job without being caught. However, a patient came in after she left and asked for a receipt for the cash she had paid two weeks before. The new bookkeeper, not yet familiar with the system, asked the boss for the deposit slip he had so she can give the correct amount to the patient. The slip had no cash deposit on it however. They went into the computer file and figured out what happened.

1) Identify risks and/or red flags in this case that provided the opportunity for fraud.

2) Identify controls that needed to be put in place that might have mitigated this risk.

3) Is this skimming or larceny? Explain the difference.

I have to use a sentinel while loop to complete the following task in a java program, I want to see how this is executed so I can better understand how the sentinel while loop works. Thank you!

Convert Lab 10 from a counter controlled WHILE loop to a sentinel WHILE loop. Do the following:

• Prompts the user to enter a grade or a -1 to quit.
• IF the user entered a -1 THEN
  • Display a message that the User is done entering grades
• ELSE
  • Count each grade as it is entered.
  • Compute a running total of the grades entered.
• END IF
• After the user enters the sentinel of -1, calculate the average of the grades entered.
• When computing the average, make sure that there is no division by zero. Check to make sure the counter is not equal to zero.
• Make sure the sentinel is not counted as a grade.
• Print out a message stating the average of the grades entered.

Include the following:

1. Use a sentinel-controlled WHILE loop that uses a -1 as the sentinel to exit the loop.
   • Before counting the grades, initialize the counter to zero before the while loop begins.
2. While within the body of the ELSE:
   • Within the WHILE loop:
     • Prompt the User to enter a grade or a -1 to quit.
     • IF the input is not a -1 THEN
       • Count the grade.
       • Compute a running total of these grades as they are entered.
     • END IF
   • After the WHILE Loop is done executing, compute the average of all the grades entered. Remember to check to make sure you don't perform a division by zero.

Before opening the dataset needed for this problem, you’ll need to call the “car” package:

> library(car)

Now you can import the “Wong” dataset and use it to answer the question below.

Remember to include any code you use along with your answers in your submission!

3. The Wong dataset contains data from a study by Wong, Monette, and Weiner (2001) on patients who fell into comas after sustaining traumatic brain injuries. After waking, Wong and colleagues administered two different intelligence tests (the “piq” and “viq” variables). The “duration” variable indicates how long each patient was in a coma before waking (measured in days).
a. Consider that this dataset represents the population of all patients who fell into comasafter sustaining traumatic brain injuries. Calculate the population mean and standard deviation of the duration variable.

b. Simulate drawing 1,000 random samples of size n =30 and store the sample mean durations in a vector (see the Lab 4 handout and/or video). Create a histogram of your sampling distribution of means for duration.

c. Calculate the mean and standard deviation of your sampling distribution. How do they compare to the population mean and standard deviation?

d. If you decreased your sample size to n=10, how would the shape of your sampling distribution change compared to what you reported above?