Today, the waves are crashing onto the beach every 5.8 seconds. The times from when a person arrives at the shoreline until a crashing wave is observed follows a Uniform distribution from 0 to 5.8 seconds. Round to 4 decimal places where possible.

1)The probability that wave will crash onto the beach exactly 1.5 seconds after the person arrives is P(x = 1.5) = The probability that it will take longer than 4.06 seconds for the wave to crash onto the beach after the person arrives is P(x > 4.06) =

2)Suppose that the person has already been standing at the shoreline for 0.7 seconds without a wave crashing in. Find the probability that it will take between 2.9 and 5.4 seconds for the wave to crash onto the shoreline.  ________

3)62% of the time a person will wait at least how long before the wave crashes in? ___________seconds.

4)Find the minimum for the lower quartile. _____________ seconds.

A farmer in Addison County has 600 acres of land that can be used to grow corn

and/or soybeans. The net profit per acre is $60 for soybeans and $55 for corn. In addition to   

the land constraint, the farmer has limited labor resources: 200 hours of labor available for

planting, and 300 hours of labor available for cultivation. Labor required for planting is 0.6

hour per acre for corn and 0.7 hour per acre for soybeans. Cultivation is only necessary for

corn production which requires 0.5 hour per acre. Also, corn yield is known to be 70

bushels per acre and the farmer does not want to produce more than 21,000 bushels of corn

due to the limited storage space. Develop a linear programming (LP) model for the farmer  

to maximize the total profit (you do not need to solve your LP model) in three steps

(1)

(2)

(3)

A farmer in Addison County has 600 acres of land that can be used to grow corn

and/or soybeans. The net profit per acre is $60 for soybeans and $55 for corn. In addition to   

the land constraint, the farmer has limited labor resources: 200 hours of labor available for

planting, and 300 hours of labor available for cultivation. Labor required for planting is 0.6

hour per acre for corn and 0.7 hour per acre for soybeans. Cultivation is only necessary for

corn production which requires 0.5 hour per acre. Also, corn yield is known to be 70

bushels per acre and the farmer does not want to produce more than 21,000 bushels of corn

due to the limited storage space. Develop a linear programming (LP) model for the farmer  

to maximize the total profit (you do not need to solve your LP model) in three steps

(1)

(2)

(3)

The table below shows a ratio of 4 companies.
retail jewelry, advertising agency, heavy equipment manufacturer and bank.

(a)

i) Interpret the table and briefly discuss why company (1) is a bank?

ii) Interpret the ratios in the table shown in part (a) to identify the remaining (3) company and briefly discuss the reason?

iii) Morgan and Miller Proposition I with taxes suggest that optimal capital structure should be close to 100% debt. Yet the companies (with the exception of Company 1) in the table have debt level very much less than 100% as shown by debt-equity ratio. Briefly explain why?

1. President Roosevelt believed that the loss of the NRA would be temporary as pressure would be exerted by ____ for a newer version.

a. businessmen

b. bureaucrats

c. politicians

d. voters

e. foreign tourists

2. The tax bill of 1935 is generally referred to as the:

a. “soak the rich” tax increase.

b. “soak the monopolies” tax increase.

c. “soak the speculator” tax increase.

d. “lesser burden on the middle class” tax decrease.

e. “lesser burden on the poor” tax decrease.

3. What changes did the Fed make in 1936 and 1937 that caused/contributed

to the depression of 1937?

a. They engaged in the open market sale of bonds.

b. They engaged in the open market purchase of bonds.

c. They raised the required reserve ratio on banks.

d. Both A and C of the above.

e. Both B and C of the above.

4. FDR’s acceptance speech for his party’s nomination to run for a second terms has been characterized as:

a. an attack on socialism.

b. an endorsement of socialism.

c. an endorsement of communism.

d. an endorsement of free enterprise.

e. an attack on free enterprise.

5. According to Smiley, which of the following is true about U.S. economic performance during World War II?

a. Unemployment fell and leveled off at about 5%.

b. Measured inflation was low, in part because of price controls and rationing.

c. The money supply grew by about 1% per year, keeping inflation low.

d. While the official data shows that consumption fell, Smiley calls that “suspect” and argues that in fact it rose significantly.

e. All of the above.

6. What does Smiley argue about World War II that helped the U.S. become prosperous in the 1940s?

a. More women entered, and stayed, in the labor force.

b. Military spending helped spur technological change.

c. Americans shifted from being pessimistic about the future to being optimistic.

d. The war helped promote increased world trade.

e. All of the above.

7. Which of the following does Smiley argue was not an outgrowth of the Great Depression?

a. The rise in the welfare state.

b. The growth in the regulatory state.

c. Increased federalism.

d. An end to the gold standard.

e. Increased power to individual states rather than the federal government.

A new publicly financed bridge is expected to reduce the cost of auto travel between two areas by Php1 per trip. This cost reduction to motorists consists of a reduction in travel time, auto depreciation and petrol expenses totaling Php1.50 per trip, less the Php0.50 bridge toll which the government will collect. Before the bridge was built there were 1 million trips per year between the two areas. Once the bridge is in operation, it is estimated that there will be 1.5 million trips per year between the two areas. In terms of areas under the demand curve, what is the annual benefit of the bridge:

To motorists?

To the government?

What other referent group benefits would need to be considered in a social benefit/cost analysis?

Mariner Corporation, which manufactures sail boats, ordered dry dock equipment from Brown Corporation. This equipment was built for the specialized needs of Mariner, and could not be used by any other company. Instead of purchasing the equipment, Mariner elected to enter into a long term lease agreement with Brown Co. The lease contract was signed on January 1, 2020.   It calls for 12 payments of $15,000, with the first one due on December 31, 2020. The lessor’s implicit interest rate is not known. Mariner’s incremental borrow rate is 8%.

a. Is this lease a finance or operating lease? Explain.

b. Present the journal entry to be made by Mariner when the lease is signed.

c. Show the journal entry that Mariner will make for the December 31, 2020 payment.

Mariner Corporation, which manufactures sail boats, ordered dry dock equipment from Brown Corporation. This equipment was built for the specialized needs of Mariner, and could not be used by any other company. Instead of purchasing the equipment, Mariner elected to enter into a long term lease agreement with Brown Co. The lease contract was signed on January 1, 2020. It calls for 12 payments of $15,000, with the first one due on December 31, 2020. The lessor’s implicit interest rate is not known. Mariner’s incremental borrow rate is 8%. a. Is this lease a finance or operating lease? Explain. b. Present the journal entry to be made by Mariner when the lease is signed. c. Show the journal entry that Mariner will make for the December 31, 2020 payment.

1. Develop a well-structured MATLAB function to compute the Maclaurin series expansion

   for the cosine function and name the function cosMac. The function should have the following features:

   1. Iterate until the relative error (variable name “relErr” ) falls below a stopping criterion OR exceeds a maximum number of iterations (variable name“maxIter”) for a given value of x.

   2. Include a default value of relErr = 1e-6 if the user does not enter the value (use nargin function).

   3. Include a default value for maxIter = 100 if the user does not enter the value (use nargin function).

   4. Return the estimate of cos(x), the approximate relative error, the number of iterations, and the true relative error (that you can calculate based on the built- in cosine function).