1.
To adjust a company’s LIFO cost of goods sold to FIFO cost of goods sold
the ending LIFO reserve is added to LIFO cost of goods sold.
the ending LIFO reserve is subtracted from LIFO cost of goods sold.
an increase in the LIFO reserve is subtracted from LIFO cost of goods sold.
a decrease in the LIFO reserve is subtracted from LIFO cost of goods sold.
2.
All of the following statements are true regarding the LIFO reserve except:
Companies using LIFO are required to report the LIFO reserve.
The financial statement differences of using LIFO normally increase the longer a company uses LIFO.
Current ratios and the inventory turnover can be significantly affected if a company has material LIFO reserves.
The equation (LIFO inventory – LIFO reserve = FIFO inventory) adjusts the inventory balance from LIFO to FIFO.
3.
Use the following information for Tamarisk, Inc., Metlock, Inc., Grouper Industries, and Evans Services to answer the question “What is Grouper's LIFO reserve for 2021?”
| (amounts in $ millions) |
Tamarisk |
Metlock |
Grouper |
Evans |
|---|---|---|---|---|
|
Inventory Method for 2021 & 2022 |
LIFO |
FIFO |
LIFO |
FIFO |
|
2021 Ending inventory assuming LIFO |
$316 | 0 | $221 | 0 |
|
2021 Ending inventory assuming FIFO |
$426 | $543 | $309 | $669 |
|
2022 Ending inventory assuming LIFO |
$436 | 0 | $174 | 0 |
|
2022 Ending inventory assuming FIFO |
$574 | $619 | $210 | $548 |
|
2021 Current assets (reported on balance sheet) |
$1678 | $2041 | $1320 | $2749 |
|
2021 Current liabilities |
$988 | $1203 | $549 | $1191 |
|
2022 Current assets (reported on balance sheet) |
$2228 | $2605 | $1091 | $2397 |
|
2022 Current liabilities |
$1319 | $1415 | $474 | $1004 |
|
2022 Cost of goods sold |
$4679 | $5031 | $3005 | $6997 |
$47
$530
$88
$36
4.
Use the following information for Pina Colada Corp., Sunland Company, Monty Industries, and Cynthia Services to answer the question “Using the LIFO reserve adjustment, which company would have the strongest liquidity position for 2022 as expressed by the current ratio?”
| (amounts in $ millions) |
Pina Colada |
Sunland |
Monty |
Cynthia |
|---|---|---|---|---|
|
Inventory Method for 2021 & 2022 |
LIFO |
FIFO |
LIFO |
FIFO |
|
2021 Ending inventory assuming LIFO |
$335 | 0 | $233 | 0 |
|
2021 Ending inventory assuming FIFO |
$421 | $523 | $298 | $658 |
|
2022 Ending inventory assuming LIFO |
$428 | 0 | $162 | 0 |
|
2022 Ending inventory assuming FIFO |
$591 | $624 | $197 | $540 |
|
2021 Current assets (reported on balance sheet) |
$1681 | $2024 | $1299 | $2744 |
|
2021 Current liabilities |
$975 | $1219 | $544 | $1188 |
|
2022 Current assets (reported on balance sheet) |
$2236 | $2604 | $1104 | $2384 |
|
2022 Current liabilities |
$1299 | $1405 | $457 | $1000 |
|
2022 Cost of goods sold |
$4690 | $5044 | $2989 | $6995 |
Sunland
Pina Colada
Monty
Cynthia
5.
Use the following information for Marigold Corp., Nash's Trading
Post, LLC, Blue Spruce Industries, and Evans Services to answer the
question “Using LIFO, what is Marigold's inventory turnover for
2022 (to the closest decimal place)?”
| (amounts in $ millions) |
Marigold |
Nash's Trading Post |
Blue Spruce |
Evans |
|---|---|---|---|---|
|
Inventory Method for 2021 & 2022 |
LIFO |
FIFO |
LIFO |
FIFO |
|
2021 Ending inventory assuming LIFO |
$322 | 0 | $243 | 0 |
|
2021 Ending inventory assuming FIFO |
$441 | $525 | $318 | $663 |
|
2022 Ending inventory assuming LIFO |
$422 | 0 | $179 | 0 |
|
2022 Ending inventory assuming FIFO |
$604 | $598 | $199 | $520 |
|
2021 Current assets (reported on balance sheet) |
$1697 | $2009 | $1300 | $2770 |
|
2021 Current liabilities |
$1003 | $1221 | $569 | $1180 |
|
2022 Current assets (reported on balance sheet) |
$2209 | $2623 | $1100 | $2406 |
|
2022 Current liabilities |
$1290 | $1398 | $453 | $982 |
|
2022 Cost of goods sold |
$4700 | $5028 | $3026 | $6990 |
6.7 times
7.8 times
9.0 times
12.6 times
6.
Use the following information for Skysong, Inc., Kingbird, Inc., Bridgeport Industries, and Evans Services to answer the question “Using the LIFO adjustment, which company shows the greatest improvement in its current ratio from 2021 to 2022?”
| (amounts in $ millions) |
Skysong |
Kingbird |
Bridgeport |
Evans |
|---|---|---|---|---|
|
Inventory Method for 2022 & 2021 |
LIFO |
FIFO |
LIFO |
FIFO |
|
2021 Ending inventory assuming LIFO |
$328 | 0 | $228 | 0 |
|
2021 Ending inventory assuming FIFO |
$427 | $533 | $305 | $663 |
|
2022 Ending inventory assuming LIFO |
$433 | 0 | $162 | 0 |
|
2022 Ending inventory assuming FIFO |
$580 | $612 | $197 | $537 |
|
2021 Current assets (reported on balance sheet) |
$1667 | $2027 | $1315 | $2759 |
|
2021 Current liabilities |
$981 | $1210 | $545 | $1201 |
|
2022 Current assets (reported on balance sheet) |
$2219 | $2606 | $1103 | $2389 |
|
2022 Crrent liabilities |
$1307 | $1411 | $458 | $992 |
|
2022 Cost of goods sold |
$4691 | $5049 | $2995 | $7010 |
Bridgeport
Evans
Skysong
Kingbird
7.
Manufactured inventory that has begun the production process but is not yet completed is
finished goods.
raw materials.
merchandise inventory.
work in process.
8.
Each of the following is a feature of internal control
except
independent internal verifications.
limited access to assets.
generic design of documents.
authorization of transactions.
In: Accounting
26. The surface water, ground water, ice and atmospheric water vapor make up the earth’s ______________________________________.
27. Bacteria that convert nitrates into nitrogen gas, thus allowing it to re-enter the atmosphere, in the process of _________________.
a. Ammonification
b. Nitrification
c. Denitrification
28. Eutrophication carries excess _______________________ and _____________________ from fertilizer run-off into waterways, with deleterious results.
a. Nitrogen and carbon
b. Nitrogen and phosphorus
c. Carbon and phosphorus
d. Sulfur and nitrogen
29. The element found in ALL organic matter and present in high levels in fossil fuels is _________________________.
a. Carbon
b. Nitrogen
c. Phosphorous
d. Sulfur
30. In the water cycle, water is taken into the atmosphere by:
a. Condensation and precipitation
b. Subsurface water flow
c. Surface runoff and snowmelt
d. Evaporation and sublimation
31. Most groundwater reservoirs, or _______________, are the source of drinking or irrigation water drawn up through wells.
32. The subtropical desert and the arctic tundra are similar in the fact that they both:
a. Have similar temperatures
b. Have frequent fires
c. Have low water supply
d. Have high biodiversity
33. The ___________________ is the most diverse biome, locates in the equatorial region, and characterized by abundant seasonal rainfall.
a. Arctic tundra
b. Tropical rainforest
c. Boreal rain forest
d. Temperate forest
e. Temperate grassland
f. Chaparral
g. Savanna
h. Desert
34. The scrub forest found in coastal California, along the Mediterranean Sea, and along the southern coast of Australia is known as the __________________________. It has dry summers and is adapted to periodic fires.
a. Arctic tundra
b. Tropical rainforest
c. Boreal rain forest
d. Temperate forest
e. Temperate grassland
f. Chaparral
g. Savanna
h. Desert
35. Frequently in the rain shadow of mountains, the ___________________ have low species diversity due to low and unpredictable rainfall.
a. Arctic tundra
b. Tropical rainforest
c. Boreal rain forest
d. Temperate forest
e. Temperate grassland
f. Chaparral
g. Savanna
h. Desert
36. You are snorkeling along the bottom of the ocean, looking for sand dollars and starfish lying on the sand. You are in the _________________________ realm or zone.
a. Aphotic
b. Neritic
c. Oceanic
d. Benthic
e. Intertidal
37. Phytoplankton and plants can be found in the horizontal __________________ zone of the ocean, the area where photosynthesis occurs.
a. Aphotic
b. Photic
c. Pelagic
d. Benthic
e. Oceanic
38. Marshes and swamps typically have a nearly continuous cover of emergent vegetation. These areas are also know as ___________________________, and help reduce the impacts from storms and floods.
a. Channel
b. Source water
c. Wetland
39. All of the earth’s open ocean is referred to as the _________________________ zone.
a. Aphotic
b. Photic
c. Pelagic
d. Benthic
e. Oceanic
40. Which of the following is NOT an example of ecosystem services?
a. Production of food and clean water
b. Climate control
c. Harvesting of crops
d. Crop pollination
e. Waste decomposition
41. True of False: Species are becoming extinct today at ever accelerating rates.
42. There were once many thriving ecosystems in the United States, from the coastal regions to the temperate forests to the prairies of the temperate grasslands. This is an example of ____________________ diversity.
a. Chemical
b. Genetic
c. Human derived
d. Ecosystem
43. The core threat to global biodiversity is considered to be:
a. Methane gas production by livestock
b. Over-farming of agricultural land
c. Human overpopulation
d. Over-fishing of marine species
44. Of the following four threats to biodiversity, which is just now starting to have an impact, and is predicted to have a much larger impact in this century?
a. Habitat loss
b. Anthropogenic climate change
c. Overharvesting
d. Introduction of foreign species
45. Which of the following is NOT a consequence of global warming?
a. Rising sea levels
b. Altered migratory pathways
c. An overabundance of saltwater and a shortage of freshwater
d. Extinctions due to starvation and habitat loss
e. All of them are potential consequences of climate change
46. Atmospheric carbon dioxide has reached never-before-seen levels due to fossil fuel combustion, and is often referred to as a ____________________________ gas.
47. Decimation of rain forests in order to plant palm oil is one of the causes of extinction that occurs due to ______________________ loss.
48. Which of the following statements concerning the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) treat of 1975 is false?
a. It requires each country to develop a maintenance plan fro threatened species
b. In only regulates international movement of threatened species or their parts
c. It depends upon the willingness of individual countries to investigate and enforce the restrictions
d. All of them are true
49. Mass extinction(s):
a. Have never happened but are predicted
b. Occurred once during the ice age
c. Have occurred five times
d. Occur approximately every 1000 years
50. Removal of dams and allowing the return of natural river flow is an example of habitat __________________.
In: Biology
1. Which of the following observations is true concerning the effect of body mass on demographics?
a. The higher the body mass, the higher the population density
b. The lower the body mass, the higher the population density
c. The higher the body mass, the higher the population size
d. The lower the body mass, the higher the population size
2. To determine population size in a population of immobile organisms such as plants, or for very small and slow-moving organisms, one could use:
a. A quadrat
b. Mark and recapture
c. Aerial surveillance
d. Their life table
e. The species distribution pattern
3. The size of a population has tremendous implications for the adaptability of future generation because of the importance of:
a. Food availability
b. Water availability
c. The ability of an individual to find a mate
d. Genetic diversity
4. The term used to describe the total number of individuals per unit area is the
a. life cycle
b. population size
c. population density
d. body mass
5. The maximum population size that a particular environment can sustain is referred to as the _________________.
6. Which of the following would be an example of an R-selected species?
a. Humans
b. Mice
c. Elephants
d. Cows
7. The top portion (leveling off) of the S-curve demonstrates the _________________.
a. R-selection
b. J-shaped curve
c. Exponential growth
d. Carrying capacity
e. Logistic growth
8. Weather, pollution, and natural disasters such as floods and fires are examples of density _______________________________ regulation.
9. The model of population growth in which population grows without any restriction on their growth is called ____________________________ growth.
a. Exponential
b. Logistic
c. Density dependent
d. Density independent
10. The model of population growth in which population growth will level off due to dwindling resource is called ______________________ growth.
a. Exponential
b. Logistic
c. Density dependent
d. Density independent
11. Which type of country is more likely to have a higher birth rate and higher proportion of young people than older people?
a. A country with zero population growth
b. A developed country
c. An underdeveloped country
12. Which of the following factors did NOT directly contribute to human population growth?
a. Education
b. Vaccination
c. Antibiotic usage
d. Sanitation
13. Human population growth is following:
a. An S-shaped curve
b. A J-shaped curve
c. Logistic growth
d. Zero population growth
14. Our large intestine serves as a home for millions and millions of bacteria, known as our normal flora. These bacteria live and thrive on our intestinal contents, especially on the cellulose which we cannot digest. In return, they suppress the levels of harmful bacteria and produce several forms of vitamins B and K. The relationship between us and the bacteria can be characterized as ___________________.
a. Amensalism
b. Parasitism
c. Commensalism
d. Mutualism
15. A massive forest fire devastated Yosemite National Park is 2013. The new growth which appeared the following spring is an example of __________________ ________________.
a. Keystone species
b. Foundation species
c. Climax community
d. Secondary succession
e. Primary succession
16. The otter is an example of a/an ________________ ___________________ in the Pacific Northwest. They feed in sea urchins, limiting their population. If the otters didn’t eat the urchins, the urchins would destroy the kelp. Kelp is giant seaweed, a major source of food and shelter for the ecosystem.
a. Foundation species
b. Keystone species
c. Climax community
d. Island biogeography
17. The number of vertebrate species in the Mojave Desert is estimated to be 380. This could be described as the __________________________ of the region.
a. Species richness
b. Relative species abundance
c. Foundation species
d. Climax community
18. When two species have population curves which increase and decrease in repetitive cycles, one slightly in advance of the other, it may be indicative of a ______________________ relationship.
a. Symbiotic
b. Parasitic
c. Commensurate
d. Predator-prey
19. Fat soluble compounds that are stored in the fat tissues of organisms, at ever increasing concentration as it moves up the food chain are serious threat because of ______________________________.
20. In the food chain “grass --> grasshopper--> frog --> snake --> hawk”, grass is the ______________.
a. Producer
b. Secondary consumer
c. Tertiary consumer
d. Primary consumer
21. In the food chain “grass --> grasshopper--> frog --> snake --> hawk”, frog is the ______________.
a. Producer
b. Secondary consumer
c. Tertiary consumer
d. Primary consumer
22. When the primary source of energy is dead organic matter such as fallen leaves, plant parts or dead animal bodies, it is said to be a:
a. Climax community
b. Grazing food web
c. Food chain
d. Detritus food web
23. An autotroph which uses sunlight to produce its food is known as a __________________.
24. The trophic level of the food chain which has the least amount of energy would be the:
a. Tertiary consumer
b. Secondary consumer
c. Primary consumer
d. Producer
25. The term “trophic level” is best defined as the:
a. Water level
b. Size level
c. Energy level
d. Growth level
In: Biology
| 5. | At your local family fun center, miniature golf is $12 per person for unlimited rounds in a day, while each go-kart session is $8. If you played 3 rounds of miniature golf and rode the go-karts 3 times, what was the marginal cost of the3rd round of miniature golf? What was the marginal cost of the3rd go-kart session? | ||||||||
|
| 6. | How can a country producing more capital goods rather than consumption goods end up in the future with a PPF that is larger than a country that produces more consumption goods and fewer capital goods? | ||||||||
|
| 7. | The issue of climate change has risen to the forefront of economic discussion, especially among industrialized countries such as the United States and those in Europe. Critics, however, argue that greater environmental regulations restrict economic growth. How might relatively wealthy countries react differently to this tradeoff compared to poor countries? | ||||||||
|
| 8. | According to By the Numbers, in which period did corn and soybean production increase more in terms of yield per acre? | ||||||||
|
| 9. | The economy can grow as a result of all of the following EXCEPT: | ||||||||
|
| 10. | In which of the following questions will technology play the greatest role? | ||||||||
|
| 11. | In relation to the Production Possibilities Frontier (PPF), which of the following demonstrates unemployment? | ||||||||
|
| 12. | According to By the Numbers, during the period between 1997 and 2014, in how many years did the U.S. trade balance improve from the previous year and in how many years did the trade balance deteriorate (assume the trade balance deteriorated from 1996 [not shown in the figure] to 1997)? | ||||||||
|
| 13. | Why does America use heavy street-cleaning machines driven by one person to clean the streets, while China and India use many people with brooms to do the same job? | ||||||||
|
| 14. | At the 2015 White House Science Fair, a $240 million private-public initiative was announced for the purpose of boosting STEM (science, technology, engineering, and math) education, as the United States continues to fall behind other industrialized nations in student achievement in these fields. How would spending on STEM initiatives today, which leads to higher costs in the near term, pay off in future benefits to the economy? | ||||||||
|
| 15. | You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having his big 21st birthday party. You have to make a choice. This is an example of: | ||||||||
|
In: Economics
Analyze the case using the 8-Step Model for Ethical Analysis;
Case Information: Sarah O’Shaun was a supervisory nurse in the pediatric unit of Hope Children’s Hospital in Fairfield, Connecticut. This morning, her calendar included an observation of three probation nurses and an informal conference with each of them. As she turned the corner into the third floor unit, she saw Debbie Franz standing outside of a patient’s door and texting. Since this was not the first time that Debbie was cautioned about the no-texting policy, Sarah knew that she had to deal with this situation. Sarah, trying to remain patient, asked Debbie to follow her to her office. Because she did not want break continuity of care, she also asked another nurse to cover Debbie’s responsibilities for a few minutes. When they reached her office, Sarah asked Debbie to sit down. She reminded her that she attended an orientation session to review the
policy that prohibited texting while on duty. In addition, Debbie signed a document affirming that she understood this policy. However, she repeatedly violated the policy and today she did so right at the patient’s door. Sarah also reminded Debbie that she was in her probationary period and could be released from her job anytime during that period. Sarah waited for Debbie to speak, but she did not expect what happened next. Debbie said, “Who do you think you are? You do not have any right to embarrass me in front of the nurses and threaten me! I am a competent nurse who graduated from Fairfield University, one of the best nursing schools in Connecticut. My grades were excellent and I had no complaints from the faculty about my texting or any other behaviors.”
Debbie continued, “You are just an old, washed up nurse who cannot do real patient care. That is why they made you a supervisor. All you do is snoop and report. I’m sick of you and you need to retire. You know what, I’m going to go to HR and report you for discrimination against me because I’m a millennial!” Sarah, quite shocked by the vehemence of Debbie’s response, took a deep breath to control her emotions. She then responded, “Perhaps it is a good idea for you to discuss this with our HR department. I will have one of the nurses continue to cover your shift while you discuss your concerns with them.” Debbie stood up and said, “Fine! You’re going to be fired over this and I think that this will be the best thing HR ever did.” As soon as Debbie left the office, Sarah telephoned the human resources department director and told her to expect Debbie. She had documentation of Debbie’s infractions through the recent conversation and records of the violations placed in Debbie’s employee file. She hoped that human resources could resolve the situation without Debbie losing her job. But she also knew that while she might be a great technical nurse, Debbie needed more training in interpersonal communication and maybe a dose of humility. A few days later, Sarah received an email regarding the Debbie situation. Apparently, she calmed down on her way to HR and was able to give her side of the story. The reason that she was texting outside the patient’s door was that she was following up on a previous text (answered on her break). Her boyfriend was arrested for drunk driving and she was checking on the situation. Debbie felt that this was a good reason for an exemption to the no-texting policy. However, she did admit that she did not explain any of this to Sarah. The HR email stated that Debbie acknowledged her violation of the no-texting policy and realized that she should have handled the situation differently. She stated that she should have notified the supervisory nurse (Sarah) that there was a family emergency. Given adequate coverage, she could have been granted emergency leave to deal with the situation. Debbie also regretted her outburst against Sarah; she was just angry about everything. The email from HR informed Sarah that Debbie would receive a Step 3 notification on her employee record, which documented all of her violations of the no-texting policy. She was also required to attend training on effective interpersonal communication offered by Hope Hospital. In addition, she was required to apologize to Debbie for her insensitive and inaccurate statements. Sarah read the email with fixed emotions. Debbie clearly violated the policy in a most public way. However, she also understood that Debbie was still learning and was pleased that she was given another chance. Sarah hoped that the training and her supervision would be enough to influence Debbie to become an excellent nurse on all levels of nursing. Sarah waited for Debbie’s apology.
In: Nursing
A marketing company based out of New York City is doing well and is looking to expand internationally. The CEO and VP of Operations decide to enlist the help of a consulting firm that you work for, to help collect data and analyze market trends.
You work for Mercer Human Resources. The Mercer Human Resource Consulting website (www.mercer.com) lists prices of certain items in selected cities around the world. They also report an overall cost-of-living index for each city compared to the costs of hundreds of items in New York City (NYC). For example, London at 88.33 is 11.67% less expensive than NYC.
More specifically, if you choose to explore the website further you will find a lot of fun and interesting data. You can explore the website more on your own after the course concludes.
Down below, you will find the 2018 data for 17 cities in the data set Cost of Living. Included are the 2018 cost of living index, cost of a 3-bedroom apartment (per month), price of monthly transportation pass, price of a mid-range bottle of wine, price of a loaf of bread (1 lb.), the price of a gallon of milk and price for a 12 oz. cup of black coffee. All prices are in U.S. dollars.
You use this information to run a Multiple Linear Regression to predict Cost of living, along with calculating various descriptive statistics. This is given in the Excel output (that is, the MLR has already been calculated. Your task is to interpret the data). Based on this information, in which city should you open a second office in? You must justify your answer. If you want to recommend 2 or 3 different cities and rank them based on the data and your findings, this is fine as well. This should be ¾ to 1 page, no more than 1 single-spaced page in length, using 12-point Times New Roman font. You do not need to do any calculations, but you do need to pick a city to open a second location at and justify your answer based upon the provided results of the Multiple Linear Regression. Think of this assignment as the first page of a much longer report, known as an Executive Summary, that essentially summarizes your findings briefly and at a high level. This needs to be written up neatly and professionally. This would be something you would present at a board meeting in a corporate environment.
What is an Executive Summary?
To help you make this decision here are some things to consider:
Based on the MLR output, what variable(s) is/are significant?
From the significant predictors, review the mean, median, min, max, Q1 and Q3 values? It might be a good idea to compare these values to what the New York value is for that variable. Remember New York is the baseline as that is where headquarters are located.
Based on the descriptive statistics, for the significant predictors, what city/cities has the best potential? What city or cities fall above or below the median and/or the mean? What city or cities are in the upper 3rd quartile? Or the bottom quartile? These are some things to consider not necessarily questions you need to answer in your Executive Summary. But they are questions to help guide you along in your analysis
| City | Cost of Living Index | Rent (in City Centre) | Monthly Pubic Trans Pass | Loaf of Bread | Milk | Bottle of Wine (mid-range) | Coffee |
| Mumbai | 31.74 | $1,642.68 | $7.66 | $0.41 | $2.93 | $10.73 | $1.63 |
| Prague | 50.95 | $1,240.48 | $25.01 | $0.92 | $3.14 | $5.46 | $2.17 |
| Warsaw | 45.45 | $1,060.06 | $30.09 | $0.69 | $2.68 | $6.84 | $1.98 |
| Athens | 63.06 | $569.12 | $35.31 | $0.80 | $5.35 | $8.24 | $2.88 |
| Rome | 78.19 | $2,354.10 | $41.20 | $1.38 | $6.82 | $7.06 | $1.51 |
| Seoul | 83.45 | $2,370.81 | $50.53 | $2.44 | $7.90 | $17.57 | $1.79 |
| Brussels | 82.2 | $1,734.75 | $57.68 | $1.66 | $4.17 | $8.24 | $1.51 |
| Madrid | 66.75 | $1,795.10 | $64.27 | $1.04 | $3.63 | $5.89 | $1.58 |
| Vancouver | 74.06 | $2,937.27 | $74.28 | $2.28 | $7.12 | $14.38 | $1.47 |
| Paris | 89.94 | $2,701.61 | $85.92 | $1.56 | $4.68 | $8.24 | $1.51 |
| Tokyo | 92.94 | $2,197.03 | $88.77 | $1.77 | $6.46 | $17.75 | $1.49 |
| Berlin | 71.65 | $1,695.77 | $95.34 | $1.24 | $3.52 | $5.89 | $1.71 |
| Amsterdam | 85.9 | $2,823.28 | $105.93 | $1.33 | $4.34 | $7.06 | $1.71 |
| New York | 100 | $5,877.45 | $121.00 | $2.93 | $3.98 | $15.00 | $0.84 |
| Sydney | 90.78 | $3,777.72 | $124.55 | $1.94 | $4.43 | $14.01 | $2.26 |
| Dublin | 87.93 | $3,025.83 | $144.78 | $1.37 | $4.31 | $14.12 | $2.06 |
| London | 88.33 | $4,069.99 | $173.81 | $1.23 | $4.63 | $10.53 | $1.90 |
| mean | 75.49 | $2,463.12 | $78.01 | $1.47 | $4.71 | $10.41 | $1.76 |
| median | 82.2 | $2,354.10 | $74.28 | $1.37 | $4.34 | $8.24 | $1.71 |
| min | 31.74 | $569.12 | $7.66 | $0.41 | $2.68 | $5.46 | $0.84 |
| max | 100 | $5,877.45 | $173.81 | $2.93 | $7.90 | $17.75 | $2.88 |
| Q1 | 66.75 | $1,695.77 | $41.20 | $1.04 | $3.63 | $7.06 | $1.51 |
| Q3 | 88.33 | $2,937.27 | $105.93 | $1.77 | $5.35 | $14.12 | $1.98 |
| New York | 100 | $5,877.45 | $121.00 | $2.93 | $3.98 | $15.00 | $0.84 |
In: Statistics and Probability
CROP GROWING SKYSCRAPERS
By the year 2050, nearly 80% of the Earth’s population will live in urban centres. Applying the most conservative estimates to current demographic trends, the human population will increase by about three billion people by then. An estimated 109 hectares of new land (about 20% larger than Brazil) will be needed to grow enough food to feed them, if traditional farming methods continue as they are practised today.
At present, throughout the world, over 80% of the land that is suitable for raising crops is in use. Historically, some 15% of that has been laid waste by poor management practices. What can be done to ensure enough food for the world’s population to live on ?
The concept of indoor farming is not new, since hothouse production of tomatoes and other produce has been in vogue for some time. What is new is the urgent need to scale up this technology to accommodate another three billion people. Many believe an entirely new approach to indoor farming is required, employing cutting-edge technologies. One such proposal is for the ‘Vertical Farm’. The concept is of multi-storey buildings in which food crops are grown in environmentally controlled conditions. Situated in the heart of urban centres, they would drastically reduce the amount of transportation required to bring food to consumers. Vertical farms would need to be efficient, cheap to construct and safe to operate. If successfully implemented, proponents claim, vertical farms offer the promise of urban renewal, sustainable production of a safe and varied food supply (through year-round production of all crops), and the eventual repair of ecosystems that have been sacrificed for horizontal farming.
It took humans 10,000 years to learn how to grow most of the crops we now take for granted. Along the way, we despoiled most of the land we worked, often turning verdant, natural eco-zones into semi-arid deserts. Within that same time frame, we evolved into an urban species, in which 60% of the human population now lives vertically in cities. This means that, for the majority, we humans have shelter from the elements, yet we subject our food-bearing plants to the rigours of the great outdoors and can do no more than hope for a good weather year. However, more often than not now, due to a rapidly changing climate, that is not what happens. Massive floods, long droughts, hurricanes and severe monsoons take their toll each year, destroying millions of tons of valuable crops.
The supporters of vertical farming claim many potential advantages for the system. For instance, crops would be produced all year round, as they would be kept in artificially controlled, optimum growing conditions.
There would be no weather-related crop failures due to droughts, floods or pests. All the food could be grown organically, eliminating the need for herbicides, pesticides and fertilisers.
The system would greatly reduce the incidence of many infectious diseases that are acquired at the agricultural interface.
Although the system would consume energy, it would return energy to the grid via methane generation from composting non-edible parts of plants. It would also dramatically reduce fossil fuel use, by cutting out the need for tractors, ploughs and shipping.
A major drawback of vertical farming, however, is that the plants would require artificial light. Without it, those plants nearest the windows would be exposed to more sunlight and grow more quickly, reducing the efficiency of the system. Single-storey greenhouses have the benefit of natural overhead light; even so, many still need artificial lighting.
A multi-storey facility with no natural overhead light would require far more. Generating enough light could be prohibitively expensive, unless cheap, renewable energy is available, and this appears to be rather a future aspiration than a likelihood for the near future.
One variation on vertical farming that has been developed is to grow plants in stacked trays that move on rails. Moving the trays allows the plants to get enough sunlight. This system is already in operation, and works well within a single-storey greenhouse with light reaching it from above: it Is not certain, however, that it can be made to work without that overhead natural light.
Vertical farming is an attempt to address the undoubted problems that we face in producing enough food for a growing population. At the moment, though, more needs to be done to reduce the detrimental impact it would have on the environment, particularly as regards the use of energy. While it is possible that much of our food will be grown in skyscrapers in future, most experts currently believe it is far more likely that we will simply use the space available on urban rooftops.
1. The contribution of traditional farming method is expected to *
2. Cutting-edge technologies in executing new idea like ‘vertical farm’ is necessary as......
3. Factors like efficiency, economical and high level of safety in regards to operation should be......
4. As the crops get exposed to the adversity of the weather,.........
5. The vertical farming method.........
In: Psychology
The process of offshoring (outsourcing an organizational function overseas) is being applied to clinical drug trials with the same speed and enthusiasm as the transplanting by major U.S. corporations of their customer service call centers to countries such as Ireland, India, and increasingly farther east locations. In a report released in June 2010 by Daniel R. Levinson, the inspector general of the Department of Health and Human Services, 80 percent of the drugs approved for sale in 2008 had trials in foreign countries, and 78 percent of all subjects who participated in clinical trials were enrolled at foreign sites. Ten medicines approved in 2008 received no domestic testing.
For U.S.-based pharmaceutical companies, the rush is driven by both attractive options and practical realities:
Pursuing the same cost advantages as other U.S. corporations, drug companies are now discovering that trials in such regions as Eastern Europe, Asia, Latin America, and Africa can produce the same quality of data at a lower cost and often in a shorter time frame.
After safety concerns over drugs like the anti-inflammatory Vioxx, which was withdrawn from sale in 2004, regulators such as the Food and Drug Administration (FDA) are now requiring even more data as a prerequisite for the approval of a new drug. That equates to more trials enrolling more people for longer periods of time—sometimes many thousands of patients over 12 months or longer.
Patients in North America are increasingly unwilling to participate in phase 1 experimental trials, preferring instead to participate in phase 2 or 3 trials where the effectiveness of the drug has already been established and the trials are focused on identifying appropriate dosage levels or potential side effects.
In contrast, these new overseas trial sites offer “large pools of patients who are ‘treatment naive’ because the relatively low standard of health care compared with Western countries means they have not had access to the latest and most expensive medicines.”
In North American trials, each doctor may only be able to offer a handful of patients who are willing and able to participate, whereas in populous nations such as India and China, a single doctor may see dozens of patients a day who would be willing trial participants, allowing faster recruitment from a smaller number of sites.
However, pharmaceutical companies don’t have everything their own way. Developing countries or not, restrictions are in place either to directly prevent trials or, at the very least, to ensure the professional and ethical management of those trials:
Many developing countries have laws against “first in person” trials to prevent the treatment of their citizens as guinea pigs in highly experimental drug trials.
Russia and China have both limited the export of blood and patient tissue samples in recent years, partly out of concern over illegal trafficking in human organs.
The FDA recently set up an office in China to increase inspections of the rapidly growing number of clinical trials.
The World Medical Association’s 2004 Helsinki declaration called for stringent ethical practices in drug trials, but these remain voluntary practices.
In addition, the rush to take advantage of these cost savings and practical benefits has produced some problems ranging from questionable data to patient deaths:
In 2003, several patients with AIDS died after an experimental drug trial in Ditan Hospital in Beijing. Viral Genetics, a California biotechnology company, was criticized for failing to explain adequately to participants that they were taking part in a drug trial rather than receiving a proven medicine.
Further criticism was levied at Viral Genetics for an issue that has become a greater concern for clinical drug trials in general—specifically the use of a sugar pill or placebo as a comparative measure of the efficacy of the drug. In the Ditan trial, questions were raised as to why an antiretroviral treatment—the most effective treatment for AIDS in the West—wasn’t used as a comparative treatment.
Page 205 The lack of education and lower standards of care in these developing countries also raise questions about patient eligibility for participation in these trials. While they may qualify by diagnosis, do they really understand the concept of informed consent, and, more importantly still, do they realize that once the trial has ended, it may be months or years before they have access to the drug for a prolonged treatment regimen for their condition?
In the end, it is likely that basic economics will win out. Increasingly stringent standards in North America, driven, some would argue, by the litigious nature of our society, will only serve to increase the attractiveness of overseas trials. Without a suitable regulatory framework to oversee these trials and ensure that patients are treated in an ethical manner, the feared picture of uneducated citizens from developing countries being used as guinea pigs in experimental trials that citizens from developed nations are unwilling to participate in will become a reality.
QUESTIONS
Identify three factors that are driving pharmaceutical companies to host clinical drug trials overseas.
What regulations are in place to oversee the professional and ethical management of these trials?
If patients lack the language skills or education to understand the significance of informed consent or the use of a placebo, is it ethical to allow them to participate in the drug trial? Why or why not?
What proposals would you offer to make the offshoring of clinical drug trials a more ethical process for all the stakeholders involved?
In: Operations Management
Review the case study below, and answer the questions that are provided. Provide complete and detailed responses to each question. Your paper must be at least three pages in length.
The Closing and Relocation of a Call Center
In this case study, you are the regional human resource director for a Fortune 500 company. You receive an unexpected visit from your vice president of human resources (VP of HR), who informs you that there is a reorganization taking place within your company. He starts by explaining that the president of the company has decided to retire after 28 years, and the new president has decided to move the current headquarters from the Northeast to Texas. No business reason was provided. There will be almost 1,000 employees redeployed since the company has existed in the Northeast for more than 75 years. This information will be released to employees within the next week. The call center—with more than 500 employees, including your office that is located within it—will also be relocated to another southern state. All employees will be offered their current positions and a relocation package if they wish to move. Those who do not want to relocate will be given a severance package with outplacement services provided.
Mr. Davis, your VP of HR, is aware that you hired most of the individuals working in the call center and that you are very familiar with the culture and employee status. This news will be devastating to the employees because they have made this the most productive and efficient call center within this global corporation. Mr. Davis came to get your advice on how to best handle the communications plan for announcing this news in your region.
Mr. Davis has taken care of notifications to the state and federal government (i.e., the 60-day notice required according to the Worker Adjustment and Retraining Notification [WARN] Act, which announces that the business is relocating and that employees will be redeployed). From previous experience, Mr. Davis shares with you that you will be contacted by the state to set up meetings so that the state may address all of the employees concerning the state benefits and services available to the employees.
Mr. Davis shares two important messages from the new president: (1) Although this news may be unsettling to many employees, business must be conducted in the same professional manner as always, with the least amount of disruption; and (2) whether the employees decide to relocate or not, while they are employed, they must maintain productivity levels, and their metrics will be monitored as usual.
Mr. Davis informs you that Mr. Woods, senior vice president (SVP) of the region, who is responsible for the call center, is being told of this reorganization via a conference call with his boss on the West Coast and the president of the company. Mr. Woods will be joining you and Mr. Davis to plan the communications shortly. Mr. Davis wants to get a head start on planning with you because he has a flight scheduled back to headquarters that afternoon.
You begin to outline a plan for the communications strategy; for example, you include information that will assist Mr. Woods in preparation for his meeting with his direct reports where he will deliver the news. Other questions you think about during the development of the outline are as follows: What information will Mr. Woods give to his direct reports this afternoon, and what will he give them to share with their managers and employees? Mr. Davis sees your outline, and he encourages you to develop your outline into a communication plan/plan of action and to continue to share it with Mr. Woods.
Before Mr. Davis leaves for the airport, he asks you to report back to him with any issues or difficulties you are experiencing with employees. Mr. Davis also asks that you report the following information to him: How many employees do you think will want to relocate? What do they want to know about the new location? What can he do to help answer these questions for the employees? What can he do to assist you with the communication plan or any activities you plan within the next 60-day period? Mr. Davis gives you all of his contact numbers and reminds you that he is available to you for questions and concerns at any time.
Analyze the information presented in this case study, present your communication plan, and answer the questions below. Your case study paper should be at least three pages in length and should follow APA guidelines.
Your communication plan should address the following questions:
In: Operations Management
Which of the following statements about this reaction is true: 6 CO2 + 6 H2O + Heat à C6H12O6 + 6 O2
| a. |
The Gibbs free-energy change of the reaction would be negative. |
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| b. |
The products have lower potential energy than the reactants |
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| c. |
This reaction is endothermic |
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| d. |
The products have greater entropy than the reactants |
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| e. |
This reaction is exothermic |
An example of a sugar sink in plants is __________, which provide sugar for energy during ___________.
| a. |
Flowers; active photosynthesis |
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| b. |
All plant structures can serve as sugar sinks under all conditions |
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| c. |
Roots; nighttime and accelerated growth |
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| d. |
Leaves; nighttime and accelerated growth |
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| e. |
Fruits; daytime in direct sun |
Wind erosion and deforestation is harmful to soil health because it:
| a. |
Destroys the humus, which has a high density of organic compounds |
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| b. |
Increases the nitrogen content of the soil |
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| c. |
Creates a balance of sand, silt, and clay |
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| d. |
Increases humus formation |
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| e. |
Allows for organisms such as nematodes, fungi, and bacteria to grow |
The zone of cellular maturation contains:
| a. |
The root cap and root hairs |
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| b. |
Cells that are recently derived from primary meristematic tissues |
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| c. |
Older, differentiated cells of the dermal, vascular, and ground tissue |
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| d. |
The protoderm, ground meristem, and procambrium |
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| e. |
The apical meristem |
Nicotinamide dinucleotide (NAD) is a _____________ derived from ______________.
| a. |
Cofactor; magnesium (Mg2+) |
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| b. |
Coenzyme; vitamin B2 |
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| c. |
Cofactor; zinc (Zn2+) |
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| d. |
Prosthetic group; non-amino molecules |
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| e. |
Coenzyme; vitamin B3 |
Solvent X is a dry blue substance with unknown properties. In an attempt to characterize substance X, you go to the lab, then add water and substance X to a beaker to make a solution. After mixing for 20 minutes, you notice an accumulation of blue particles still on the bottom of the beaker. You measure the pH, and determine that pH = 3. What can you deduce about substance X?
| a. |
It is nonpolar and basic |
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| b. |
It is polar and acidic |
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| c. |
It is polar and has a neutral pH |
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| d. |
It is nonpolar and acidic |
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| e. |
It is polar and basic |
Which if the following plant types would most likely lead to the greatest genetic diversity from undergoing reproduction?
| a. |
The chances of genetic diversity are equally likely in both types of plants |
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| b. |
A plant that reproduces asexually |
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| c. |
A plant that reproduces sexually |
Which of the following statements are true regarding C4 plants?
| a. |
Initial fixation of CO2 is catalyzed by PEP carboxylase |
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| b. |
Fewer ATP are used as compared to C3 plants |
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| c. |
Stomata are only open at night |
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| d. |
Photorespiration is increased |
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| e. |
All of the above are correct |
Which of the reactants becomes reduced in the reaction below?
C6H12O6 + 10 NAD+ + 2 FAD + ADP + Pi à 6 CO2 + 10 NADH + 2 FADH2 + ATP
| a. |
Glucose |
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| b. |
Flavin adenine dinucleotide |
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| c. |
Nicotinamide adenine dinucleotide |
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| d. |
Adenosine diphosphate |
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| e. |
Both B and C |
Which of the following statements regarding the electron transport chain and oxidative phosphorylation is true?
| a. |
It is the step of cellular respiration that generates the most ATP |
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| b. |
It generates more ATP than fermentation |
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| c. |
A mutation in complex II would still allow ATP to be produced via oxidative phosphorylation, but at a reduced capacity |
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| d. |
ATP production is dependent upon the generation of a proton gradient |
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| e. |
All of the above statements are true |
You genetically modify a plant so that its chlorophyll a and chlorophyll b pigments no longer contain the ring structured head region. Which of following would be true?
| a. |
The photosynthetic ability of this plant would be impaired |
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| b. |
The photosynthetic ability of this plant would increase |
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| c. |
The photosynthetic ability of this plant would not be altered |
In: Biology