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For all the questions below select the appropriate answer: a) If the MPC is 3/4, the...

For all the questions below select the appropriate answer:

a)

If the MPC is 3/4, the net tax rate is 1/3, and the government increases spending by $100 million, then we would expect the result to be:

	an increase in real GDP of $200 million.
	no change in equilibrium real GDP.
	an increase in equilibrium real GDP of $250 million.
	a reduction in equilibrium real GDP of $400 million.

b)

Suppose the MPC and the slope of the AE function are 0.8, giving a multiplier of 5.0. Then a newly formed government introduces a net tax on national income, NT = 0.2Y. As a result:

	the slope of the AE function is unchanged, the multiplier remains 5.0 and equilibrium national income is not affected.
	the slope of the AE function increases to 1.0, the multiplier and equilibrium national income both increase.
	the slope of the AE function decrease to 0.64, the multiplier decreases to 2.78 and equilibrium national income decreases.
	the slope of the AE function decreases to 0.64, the multiplier decreases to 1.56 and equilibrium national income decreases.

c)

In an open economy with imports described by the import function: IM = 0.25Y and exports equal to X = 250:

	exports would be greater than imports at all levels of GDP.
	if real GDP were 1600 net exports would be zero.
	in a diagram the net export function would have a vertical intercept of 250 and a slope (ΔIM/ΔY) of - 0.25.
	the net export function would be NX = 250 + 0.25Y.

d)

In the diagram NT is tax revenue and G is government expenditure. All figures are in billions. In this economy:

	tax revenues, government spending and the budget balance all vary directly with GDP.
	tax revenues, government spending and the budget balance all vary inversely with GDP.
	tax revenues vary directly with GDP, but government spending and the budget balance are independent of GDP.
	government spending is independent of GDP, but tax revenues and the budget balance vary directly with GDP.

e)

An economy with household, business, government and international trade sectors is described by the following equations:

Consumption: C = 75 + 0.85(Y - T)
Investment: I = 125
Government expenditure: G = 75
Net taxes: NT = 0.2Y
Exports: X = 25
Imports: IM = 0.18Y

The multiplier, the equilibrium level of real GDP and the government's budget balance in this economy would be:

	1.5, 375 and a balanced budget (BB = 0).
	6.67, 2000 and a surplus of 325 (BB = 325).
	2.0, 600 and a surplus of 45 (BB = 45).
	3.03, 909 and a deficit of 182 (BB = - 182).

In: Economics

It appears that not all people are equally vulnerable to cancer. People from some ethnic groups...

It appears that not all people are equally vulnerable to cancer. People from some ethnic groups have higher or lower than average chances of developing certain types of cancer. Jennifer’s manager Dr. Steinberg thinks that the company’s insurance policy should reflect this fact and constantly raises this question in the meetings. To be more convincing, he asked Jennifer Nguyen to take a random sample of those Healthy Life clients who belong to ethnic group X (at least on their maternal or paternal side) and a similar sample consisting of the clients without X ancestry. Then, Jennifer was asked to compare clients’ Y parameters indicating likelihood of developing W cancer. (As the matter is ticklish, we will not be naming the ethnic group, the type of cancer, the medical parameter, and the gender of sample members.) Then, it is known that in the general population Y parameters are distributed with the standard deviation of 3.0 (therefore the population variance is equal to 9.0). However in the X ethnic group the population standard deviation is about 2.1(and the population variance is equal to 4.41). As only 2-3% of Canadians have X ancestors, Jennifer and her manager assume that the standard deviation in the population of those who have no X ancestry is also around 3.0 as in the country in general. This assumption allows using z-distribution. The data are provided. Can we state at 1% level of significance that it matters whether a person belongs to X group or not in terms of the risk of developing W cancer? Or the chances are equal (on average Y parameters are the same)? Help Jennifer Nguyen to conduct the test. Use Data Analysis z-Test: Two-Sample for Means.

	X Group	Not X Group
1	9.2	2.6
2	6.4	4.7
3	5.5	8.8
4	7.1	2.0
5	3.6	1.2
6	5.3	3.5
7	6.5	5.2
8	9.8	6.8
9	2.5	9.1
10	4.9	1.0
11	9.5	0.8
12	7.7	0.9
13	8.1	1.6
14	6.0	4.5
15	5.0	5.6
16	5.5	7.5
17	7.2	2.8
18	4.5	2.0
19	4.0	1.9
20	4.8	1.8
21	8.5	8.5
22	6.6	7.4
23	7.1	8.0
24	3.6	9.5
25	4.7	2.4
26	6.2	0.9
27	9.1	1.4
28	5.5	8.3
29	5.9	5.0
30	6.0	7.7
31	7.1	9.2
32	4.0	1.6
33	5.0	4.5
34	5.5	5.5
35	7.2	7.5
36	4.5	2.9
37	6.2	2.0
38	9.2	1.9
39	5.5	2.1
40	5.8	8.7

In: Statistics and Probability

Kaelea, Inc., has no debt outstanding and a total market value of $129,000. Earnings before interest...

Kaelea, Inc., has no debt outstanding and a total market value of $129,000. Earnings before interest and taxes, EBIT, are projected to be $8,700 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 22 percent higher. If there is a recession, then EBIT will be 33 percent lower. The company is considering a $42,900 debt issue with an interest rate of 5 percent. The proceeds will be used to repurchase shares of stock. There are currently 4,300 shares outstanding. Assume the company has a market-to-book ratio of 1.0.

a. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued, assuming no taxes. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

b. Calculate the percentage changes in ROE when the economy expands or enters a recession, assuming no taxes. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to the nearest whole number, e.g., 32.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm goes through with the proposed recapitalization and no taxes.

c. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

d. Calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm has a tax rate of 40 percent.

e. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued. Also, calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

f. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. Also, calculate the percentage changes in ROE for economic expansion and recession, assuming the firm goes through with the proposed recapitalization. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

In: Finance

You are an executive in a large healthcare company with five lines of business. There are...

You are an executive in a large healthcare company with five lines of business. There are no economies of scope (this will be discussed in a future module). Those lines of business order services (accounting, information technology, and warehousing) from three "service divisions" of the company. You are given the following information for the revenues, direct costs (e.g., costs of production), and capital (e.g., value of the property, plant, and equipment) associated with these five lines of business, as well as the total variable costs from the three 'internal services' divisions. (You are ignoring fixed corporate overhead costs which will not change with a change in the size of the company.) All dollar amounts are in millions of dollars.

Business #	1	2	3	4	5
Revenue (millions)	$25	$30	$5	$15	$25
Total direct costs (millions)	$18	$26	$4	$11	$21
Capital invested (millions)	$20	$12	$16	$8	$14

For each business, calculate the return on capital, but ignore the indirect costs from the three service divisions. This is calculated as (revenue - total direct costs)/capital invested. You will enter this information, to three decimal places, in Moodle. A return of 12.46 percent would be reported as 0.125.

As an executive in this company you are concerned with the following: (1) the businesses have little incentive to reduce their request for services from the three service divisions; (2) the service divisions are unable to tie their requested budgets to the value of their services; and (3) some of the businesses may have low returns on capital and should be sold off. To initially address these issues you are imposing an internal pricing system, where each of the three service divisions charges the businesses for the services provided. The expected percentage allocation of the variable costs from each to service division to each business are given in the matrix below. Notice that the sum of any allocations from a service division sum to 1.0.

Service division	1	2	3	4	5
1	0.10	0.15	0.20	0.25	0.30
2	0.25	0.20	0.15	0.10	0.30
3	0.30	0.20	0.15	0.10	0.25

Service division	Total variable costs (millions)
1	$5
2	$3
3	$2

Use this information to allocate the service divsions' variable costs to the five businesses. Recalculate the return on capital for each of the five businesses. You will enter this information, to three decimal places, in Moodle.

Suppose that the market rate of return for similarly risky investments is 14 percent. If you took the approach of Goizueta at Coca-Cola, which businesses should be sold?

In: Accounting

Create a Java class named Package that contains the following: Package should have three private instance...

Create a Java class named Package that contains the following:

Package should have three private instance variables of type double named length, width, and height.

Package should have one private instance variable of the type Scanner named input, initialized to System.in.

No-args (explicit default) public constructor, which initializes all three double instance variables to 1.0.

Initial (parameterized) public constructor, which defines three parameters of type double, named length, width, and height, which are used to initialize the instance variables of same name.

Public copy constructor, with a parameter of type Package, used to duplicate an existing Package object.

Three public void methods named inputLength, inputWidth, and inputHeight. Each method will prompt the user for the appropriate property, and input a double value using the Scanner object input to initialize the instance variables

A public void method named displayDimensions which prints the dimensions as length X width X height (each value separated by a “ X “).

A public method of type double named calcVolume that calculates the volume and returns the result as a double value.

Create a class named Shipment

The program must ask for two separate packages to ship

The program must calculate the cost difference using the difference in volume:

i.e. The base price for a package with volume <=1 is $3, for every unit increase in volume, the cost increases by $1

e.g. 1: a parcel with volume 4, the cost is $3+ $1 +$1 +$1 = $6

e.g. 2: a parcel with volume 2.5, the cost is $3 + $1.5 = $4.5

Give the following (in order of priority):

If there is no difference, display the costs as the same

If the cost of one is less than twice the other, display that it is “slightly more than”

If the cost of one is less than three times the other, display that it is “twice”

If the cost of one is less than four times the other, display that it is “triple”

If the cost of one is less than five times the other, display that it is “quadruple”

Otherwise, display that as a calculated multiple

The program must indicate the more costly package (if not same cost) and by how much

The program must calculate and display the appropriate message (including proper dimension and cost format)

Your code also does NOT (YET) need to worry if the user inputs an invalid value for the input (example: invalid length). We will implement this in a future assignment.

The output of your code must match the samples.

You must change the title i.e. Welcome to John Doe’s shipping calculator!

In: Computer Science

Kaelea, Inc., has no debt outstanding and a total market value of $153,000. Earnings before interest...

Kaelea, Inc., has no debt outstanding and a total market value of $153,000. Earnings before interest and taxes, EBIT, are projected to be $9,500 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 20 percent higher. If there is a recession, then EBIT will be 30 percent lower. The company is considering a $45,300 debt issue with an interest rate of 5 percent. The proceeds will be used to repurchase shares of stock. There are currently 5,100 shares outstanding. Assume the company has a market-to-book ratio of 1.0.

a. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued, assuming no taxes. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

b. Calculate the percentage changes in ROE when the economy expands or enters a recession, assuming no taxes. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to the nearest whole number, e.g., 32.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm goes through with the proposed recapitalization and no taxes.

c. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

d. Calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm has a tax rate of 35 percent.

e. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued. Also, calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

f. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. Also, calculate the percentage changes in ROE for economic expansion and recession, assuming the firm goes through with the proposed recapitalization. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

In: Finance

1A) Nicholas has built a 16,000 dollar stock portfolio with a beta of 1.2, an expected...

1A) Nicholas has built a 16,000 dollar stock portfolio with a beta of 1.2, an expected return of 10.8 percent, and a standard deviation of 25%. Melinda also has a 16,000 dollar portfolio, but it has a beta of 0.8, an expected return of 9.2 percent, and a standard deviation that is also 25%. The correlation coefficient between Nicholas' and Melinda's portfolios is zero. If Nicholas and Melinda marry and combine their portfolios, which of the following best describes their combined $32,000 portfolio?

- The combined portfolio's expected return will be greater than the simple weighted average of the expected returns of the two individual portfolios, 10.0%.

- The combined portfolio's standard deviation will be equal to a simple average of the two portfolios' standard deviations, 25%.

- The combined portfolio's beta will be equal to a simple weighted average of the betas of the two individual portfolios, 1.0; its expected return will be equal to a simple weighted average of the expected returns of the two individual portfolios, 10.0%; and its standard deviation will be less than the simple average of the two portfolios' standard deviations, 25%.

- The combined portfolio's standard deviation will be greater than the simple average of the two portfolios' standard deviations, 25%.

1B) Stock A has an expected return of 11 percent, a beta of 0.9, and a standard deviation of 15 percent. Stock B also has a beta of 0.9, but its expected return is 9 percent and its standard deviation is 13 percent. Portfolio AB has $900,000 invested in Stock A and $300,000 invested in Stock B. The correlation between the two stocks' returns is zero. Which of the following statements is CORRECT?

- The stocks are not in equilibrium based on the CAPM; if A is valued correctly, then B is overvalued.

- Portfolio AB's expected return is 11.0%.

- The stocks are not in equilibrium based on the CAPM; if A is valued correctly, then B is undervalued.

- Portfolio AB's beta is less than 1.2.

1C) Suppose you obtain the following information regarding Companies Facebook and Uber:

Company Facebook has a higher expected return than Company Uber.
Company Facebook has a lower standard deviation of returns than Company Uber.
Company Facebook has a higher beta than Company Uber.

Given this information, which of the following statements is CORRECT?

- Company Facebook's stock is a better buy than Company Uber's stock.

- Company Facebook has more diversifiable risk than Company Uber.

- Company Facebook's returns will be negative when Uber's returns are positive.

- Company Facebook has a lower coefficient of variation than Company Uber.

In: Finance

Edgerron Company is able to produce two products, G and B, with the same machine in...

Edgerron Company is able to produce two products, G and B, with the same machine in its factory. The following information is available.

	Product G				Product B
Selling price per unit			$	200			$	230
Variable costs per unit				85				138
Contribution margin per unit			$	115			$	92
Machine hours to produce 1 unit		0.4	hours			1.0	hours
Maximum unit sales per month		650	units			250	units

The company presently operates the machine for a single eight-hour shift for 22 working days each month. Management is thinking about operating the machine for two shifts, which will increase its productivity by another eight hours per day for 22 days per month. This change would require $11,500 additional fixed costs per month. (Round hours per unit answers to 1 decimal place. Enter operating losses, if any, as negative values.)

1. Determine the contibution margin per machine hour that each product generates

	Product G	Product B
Contribution Margin per Unit

Contribution Margin per Machine Hour
	Product G	Product B	Total
Maximum Number of Units to be Sold	650	250
Hours required to produce maximum units

2. How Many units of Product G and Product B should the company produce if it continues to operate with only one shift? How much total contribution margin does this mix produce each month?
	Product G	Product B	Total
Hours Dedicated to the production of each product
Units produced for most profitable sales mix
Contribution margin per unit
Total contribution margin- one shift

3. If the company adds another shift, how many units of Product G and Product B should it produce? How much total contribution margin would this mix produce each month?
	Product G	Product B	Total
Hours dedicated to the production of each product
Units produced for most profitable sales mix
Contribution margin- two shifts






4. Suppose that the company determines that it can increase Product G's maximium sales to 700 units per month by spending $10,500 per month in marketing efforts. Should the company pursue this strategy and the double shift?
	Product G	Product B	Total
Hours dedicated to the production of each product
Units produced for most profitable sales mix
Contribution margin per unit
Total contribution margin- two shifts and marketing campaign






	(Yes/No)

In: Accounting

THIS IS NOT MEANT TO BE A SAMPLE TEST. EXAM QUESTIONS MAY NOT BE SIMILAR TO...

THIS IS NOT MEANT TO BE A SAMPLE TEST. EXAM QUESTIONS MAY NOT BE SIMILAR TO THOSE IN THIS REVIEW.

1. Read the values of the variable VOL in the dataset IQandBrainSize and find the proportion of sample values within 1, 2 and 3 sample standard deviations from the mean.

2. Nucryst Pharmaceutical, Inc. announced the results of its first human trial of NPI 32101, a topical form of its skin ointment. A total of 225 patients diagnosed with skin irritations were randomly divided into three groups as part of a double-blind, placebo-controlled study to test the effectiveness of the new topical cream. The first group received a 0.5% cream, the second group received a 1.0% cream, and the third group received a placebo. Groups were treated twice daily for a 6-week period.

Is this an observational study?

What are the treatments?

What does it mean for this study to be double-blind?

What is the control group for this study?

Identify the experimental units.

3. You have in R a data set dat consisting of persons’ names. Issue R commands to obtain a sample of size 100 from this population consisting of all the names other than “Aron”.

4. Consider a random sample of coins and record the year stamped on each. Would you expect the distribution of numbers to be symmetric or skewed? Why?

5. A sample consists of seven points. Explain how to add one more item to the sample so that the median doesn’t change.

6. A uniform distribution takes values between 1 and 4. Draw the density. Show the scales on both axes.

7. Find the 90th percentile of a normal distribution with mean 23 and standard deviation 7.

8. You roll 4 dice. What is the probability of getting at least one 6?

9. These are the distributions of blood types in the US and Ireland. Choose one person in each country independently. What is the probability that they have the same blood type?

Blood Type	A	B	AB	O
U. S.	.42	.11	.03	.44
Ireland	.35	.10	.03	.52

10. You toss two balanced coins independently. Let A be the event head on the first toss and let B be the event both tosses have the same outcome. Compute P(A), P(B), P(B|A). Are A, B independent?

11. A data set has Q1 = 54.5 and Q3 = 200. What values will be considered outliers?

12. When should relative frequencies be used when comparing two data sets? Why?

13. Describe the circumstances in which a bar graph is preferable to a pie chart. When is a pie chart preferred over a bar graph?

In: Statistics and Probability

Kaelea, Inc., has no debt outstanding and a total market value of $63,000. Earnings before interest...

Kaelea, Inc., has no debt outstanding and a total market value of $63,000. Earnings before interest and taxes, EBIT, are projected to be $8,600 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 21 percent higher. If there is a recession, then EBIT will be 34 percent lower. The company is considering a $21,300 debt issue with an interest rate of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 4,200 shares outstanding. Assume the company has a market-to-book ratio of 1.0.

a. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued, assuming no taxes. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

b. Calculate the percentage changes in ROE when the economy expands or enters a recession, assuming no taxes. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to the nearest whole number, e.g., 32.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm goes through with the proposed recapitalization and no taxes.

c. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

d. Calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	%ΔROE
Recession	%
Expansion	%

Assume the firm has a tax rate of 35 percent.

e. Calculate return on equity, ROE, under each of the three economic scenarios before any debt is issued. Also, calculate the percentage changes in ROE for economic expansion and recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

f. Calculate return on equity, ROE, under each of the three economic scenarios after the recapitalization. Also, calculate the percentage changes in ROE for economic expansion and recession, assuming the firm goes through with the proposed recapitalization. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	ROE
Recession	%
Normal	%
Expansion	%

	%ΔROE
Recession	%
Expansion	%

In: Finance