At a Midwestern business school, historical data indicates that 70% of admitted MBA students ultimately join the business school’s MBA program. In a certain year, the MBA program at the University admitted 200 students.

a. Find the probability that at least 150 students ultimately join the MBA program.

b. Find the probability that no less than 135 and no more than 160 students finally join the MBA program.

c. How many students should the MBA program expect to join the program?

d. What is the standard deviation of the number of students who will join the MBA program? e. Let X be the number of students out of 200 who will join the program. Would the empirical rule apply to the probability distribution of X in this case?

14. What are the highest tax rates for each of the following scenarios?

____. Operating income from a hotel earned by a foreign corporation (excluding branch profits tax)

____. Interest income earned by a foreign corporation from a US borrower

____. Net rental income earned by an U.S. individual (exclude the passthrough deduction)

____. Capital gain earned by an U.S. individual

____. Interest income earned by a U.S. corporation

____. Capital gain earned by an U.S. corporation

____. Depreciation recapture on the sale of U.S. real estate (Section 1250 property) for an individual

____. Depreciation recapture on the sale of U.S. real estate (Section 1245 property) for an individual

There are many way to run a company. Many of us have seen outstanding leaders, but what makes those individuals successful in their positions. In these videos, Stanford professor Bob Sutton provides insight into the traits of those successful leaders and managers, and details the worst habits of those who we would like to forget.

Please view the following videos from Stanford University's Entrepreneurship Corner:

1. Hallmarks of Great Bosses; Bob Sutton, Stanford University [4 mins]

2. Power Poisoning; Bob Sutton, Stanford University [3 mins]

Use the video and consider the following questions to drive the discussion:

What traits stood out to you regarding those effective leaders, managers or executives? Have you been involved with such an individual? In what capacity?

What traits stood out to you regarding those leaders that failed? Have you been involved with such an individual? In what capacity?

In the context of this course, you will be asked to address the issues/questions below for Marriott International, Inc. (MAR), www.marriott.com. When addressing the issues/questions, be sure to do so in the context of this course and Marriott. You have been appointed as the special assistant to the Chief Executive Officer (CEO), Arne Sorenson, who has asked you to address the following five situations:

(a) A fellow MBA alum from Lynn University, who now works in Admission at Lynn University would like to give each MBA student a benefit, which is programmed into the Lynn University ID card. This benefit would allow the student one night each month, depending on availability, for a room at the Marriott Courtyard for $40. Normally the room rate is $100 and the full cost of a night’s stay is $50. Discuss whether or not this would be feasible, i.e. Marriott is able to do this transaction without it being a donation.

(b) Marriott currently buys its ice machines from a manufacturer in China. A representative from a company in Vietnam is offering to sell them for 20% less than cost from the manufacturer in China. Discuss the issues that you would consider in deciding whether or not to accept this offer.

(c) The CEO wishes to develop an incentive plan for the hotel managers.

Before this is put into place, the CEO wishes you to make sure that budgeting

in the hotels is done correctly. He has asked you to submit a document discussing

the key points that you have learned in MBA 640. Be as thorough as possible.

(d) Marriott has only used absorption costing. The CEO has asked you

to explain the merits of using variable costing under certain circumstances.

(e) The CEO has asked you to explain how target costing/pricing would be used in

Marriott’s pricing policies.

1. How would you characterize the two biggest differences in the pattern of spending between the three pairs of countries (the US vs South Korea, the US vs Finland, and Finland vs South Korea)?

2. Can you think of differences in the countries and their histories that might account for these differences? You will need to do some research to support your claims.

A sample of 36 MBA students at a certain university produces a mean age of 26.5 years with a standard deviation of 10.24 years. Which of the following is the 90% confidence interval for the mean age of all MBA students at this university based on this sample.

Campus Fast is a new audit client. Client Fast uses public WiFi to place and deliver restaurant take out for students at the Up and Coming State University. Campus Fast was founded by three highly ambitious MBA students at the university. The business plan is to find a buyer or place an IPO of the company by graduation in two years. The founders expect to pay off all student loans, take a tour around the world and then start another company. In order for the business plan to work on the timeline for graduation, the business must meet highly ambitious earnings numbers. Additionally, the company is dealing with two situations that the founders would like to keep from the auditors:

1) The company has been using free, unsecured public WiFi to take orders via the Internet. The customer may pay via the Internet. Several students, who all happen to be members of the same student organization on campus, are claiming that using Campus Fast has allowed their identity to be stolen. One student is claiming that she had $12,000 of charges on her credit card to the unsecured Internet site of Campus Fast. Management plans to pay off the complaining students and keep the true liability off the balance sheet. The reason is Campus Fast is concerned that an interested buyer may become concerned about the unsecured site and might get scared by the student complaints.

2) The company guarantees fast delivery. It has offered to pay any speeding or other moving violation tickets to its delivery drivers. Unfortunately, one of the drivers was involved in an accident due to running a red light. The passenger in the other car is in critical condition and the intensive care unit in the hospital. The driver has promised the family of the passenger that the company will make good on any expenses and admitted the company policy on repaying all traffic tickets. Attorneys for the injured party are threatening to sue and publicize the situation. The founders do not have enough cash to take care of this problem but are still trying to keep the situation from the auditors and potential buyer.

Using the internal control framework assess the internal controls at Campus Fast and risk environment.

The accompanying table shows the annual​ salaries, in thousands of​ dollars, earned by a sample of individuals who graduated with MBAs in the years 2012 and 2013. Perform a hypothesis test using α equals= 0.05 to determine if the median salary for 2012 MBA graduates is lower than 2013 MBA graduates.

Salaries​ (in thousands of​ dollars) for 2012 MBA graduates

Salaries​ (in thousands of​ dollars) for 2013 MBA graduates

Identify the test statistic.

___ ​(Round to two decimal places as​ needed.)

Calculate the​ p-value.

​p-value equals=____ (Round to three decimal places as​ needed.)

Assume you just graduated from a university with an MBA and were hired by a small American company generating 100% of its $20 million revenue from domestic sales. Your job as International Sales Director is quite simple: to make sure international sales generate as much revenue as domestic sales within five years.

Where do you start?

What are some of your first initiatives? Why?