Case Study 1: Auctions-Spring 2019

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Case study info

https://blackboard.strayer.edu/webapps/osv-kaltura-bb_bb60/LtiMashupPlayIframeWrapper?playUrl=/browseandembed/index/media/entryid/0_lw2vn2s9/showDescription/false/showTitle/false/showTags/false/showDuration/false/showOwner/false/showUploadDate/false/playerSize/400×285/playerSkin/31110461/&course_id=_241504_1&content_id=_27546925_1

Case Study 1:  Auctions-Spring 2019

Due Week 7 Worth 250 pts

The following video describes auctions as price discovery mechanisms https://www.youtube.com/watch?v=4kWuxfVbIaU

Use the video on auctions and at least 3 academic and/or high-quality business publications, see definitions below, to answer the following questions in 5-7 pages:

1.  There are many types of auctions each with strengths and weakness at uncovering the real price/value of an item.  Compare and contrast:

a) the English and Dutch auctions; and,

b) the sealed bid first price auction and the Vickery Auction.

2.  Concierge Auctions Limited sells very high end and unique properties worldwide using an English style auction, selling to the highest bidder.  They have been embroiled in multiple law suits, see the link to the Wall Street Journal.  Advise Concierge as to the weakness that an English auction may have in uncovering a property’s value.  Provide a recommendation for at least one other auction type which may better uncover the value of unique real estate properties.

https://www.wsj.com/articles/luxury-real-estate-firm-concierge-auctions-fights-allegations-of-fraudulent-bids-11549568689

3.  Auctions are widely used in finance, e-commerce and in e-games.  Identify 3 uses of auctions by firms in finance, e-commerce and/or e-games.  Explain the:

a)  need for an auction in the product/service; and

b)  what type of auction is used and why that type of auction is appropriate for the product/service.

4.  Auctions are also widely used to generate revenue for not-for-profit organizations.  What are the advantages/disadvantages of auctions as revenue generators for not-for-profit organizations?

5.  Suggest ways in which the company you work for, or the company which you aspire to work for, can use auctions to better uncover value and increase revenue.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12) with one-inch margins on all sides; citations and references must follow APA format.  Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title and the date.  The cover page and the reference page are not included in the required assignment length.

Acceptable Types of Publications

The definition of a high-quality professional business publication is one which is primarily a publication directed to reporting and/or analysis of the workings of business.  Examples are:  Wall Street Journal, Bloomberg, Reuters…etc.  Avoid general news publications such as USA Today, Washington Post, NY Times.

PLEASE DO NOT RELY ON WIKIPEDIA, INVESTOPEDIA OR ANY OTHER PEDIA AS A REFERENCE AT ANYTIME IN THIS COURSE.

Submission Rules

You may submit 1 attempt at the assignment to test your SafeAssign Score.  The SafeAssign score should be 25% or less.

You may submit ONE AND ONLY ONE ADDITIONAL ATTEMPT.

Counseling Theory- Theoretical Orientation Development Plan Paper

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I need this paper back by Wednesday January 24, 2018 at 10am, with a minimum of 7 scholarly references.

Behavior Therapy or Cognitive Behavior therapy

 

Required Assignments (RAs) are substantive assignments intended to measure student performance against selected course objectives and/or program outcomes within a course. RAs are completed by all students across all Argosy University campuses and delivery formats without exception.

Each RA contributes to a significant portion of the overall course grade and is assessed by faculty using the grading criteria designed for that assignment. These are individual assignments and students earn individual grades. Required Assignment: Theoretical Orientation Development Plan Paper 300 pts

Description of RA: From what you have learned in this course, select a theoretical perspective that interests you the most. In this assignment, you will conduct a literature search on that theoretical approach and develop a personalized plan for your continued development.

Theoretical Orientation Development Plan Paper Review the literature and construct a paper presenting and supporting your personal counseling theoretical preference (choosing from the major theories studied in this course). You should conduct a computerized literature search on the particular theoretical approach that feels like the best fit. Remember to select a theory that aligns with your worldview and your perspective of the best therapeutic relationship. References should be from empirical/scholarly works that support and further define the position. You should include the following in your paper:

• Summarize the fundamental elements of your theory of choice, including definitions of important terms, personality development, and major historical figures associated with the theory.

• Explain how your personal worldview (e.g. core beliefs about others and the world) connects to the theory of choice. • Explain how the therapeutic relationship aligns with your interpersonal style.

• Discuss how your theory of choice addresses the multicultural nature of our diverse society.

• Present support for the effectiveness of your chosen theoretical approach by examining and analyzing the existing efficacy-based research. Include findings across age groups, gender, and/or multicultural groups.

• Discuss limitations of your chosen therapeutic approach, including any clients or presenting problems for which it may not be appropriate. Support your ideas with findings from existing research on the approach.

• Identify the ethical standards from the American Counseling Association’s Code of Ethics (2014) that apply to the use of an approach determined to be unsuitable for a particular group or presenting problem. Discuss the potential harm that could be caused by applying an unsuitable approach. Spring 1 – 2018

• Provide an example of how you would apply a minimum of two specific theoretical techniques to a fictitious client’s need.

• Provide a plan for how you will continue to develop your knowledge and skills related to that theory.

Your final deliverable will be a Word document, approximately 8-10 pages in length, utilizing a minimum of 7 scholarly references. Your paper should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; and display accurate spelling, grammar, punctuation, and APA format.

 

CACREP Standards: 2.F.5.a, 5.C.1.a, 5.C.1.b, 2.F.5.g, 2.F.5.h, 2.F.5.j, 5.C.3.b, 2.F.5.n, 2.F.2.c,

5.C.2.c, 2.F.1.i, 5.C.2.l

Theoretical Summary:   Summarize the fundamental elements of your theory of choice, including   definitions of important terms, personality development, and major historical   figures associated with the theory.

Summary clearly states all critical elements of the theory of choice.   All relevant technical terms are defined, theoretical understanding of   personality development is described, and the importance of each historical   figure is clearly and accurately stated. /40   pts.

 

Personal Worldview: Explain how your personal worldview connects   to the theory of choice.

Correlation between the   student’s worldview and the theory of choice is clearly stated. The effect of   the worldview towards the use of the theory is appropriate. /20   pts.

 

Interpersonal Style: Explain how the   therapeutic relationship described in your theory of choice aligns with your   interpersonal style.

Correlation   between important aspects of the therapeutic relationship and the student’s   interpersonal style is clearly stated. How the student’s interpersonal style   would be appropriate or be a challenge is clearly stated. /20   pts.

 

Cultural and

Developmental Considerations: Discuss how your   theory of choice addresses the multicultural nature of our diverse society   and individual developmental needs.

The effect of the theory   towards a variety of clients is accurate and clearly stated. /38   pts.

 

Theoretical Strengths: Present   research findings in support of the effectiveness of your chosen theoretical   approach.

Findings   are presented of at least one peer-reviewed, efficacy study on the chosen   theoretical approach. /30   pts.

 

Theoretical Limitations: Present   research findings related to the limitations of your chosen theoretical   approach.

Findings   are presented of at least one peer-reviewed study examining the limitations   of the chosen approach. /30   pts.

 

Ethical Considerations: Identify at   least two ethical standards from the ACA Code of Ethics that address the   inappropriate use of an approach or technique. Discuss specific, potential   harmful effects of doing so.

At   least two relevant ethical standards are identified, defined, and applied to   the potential misapplication of a technique or approach. At least two examples of potential harmful   effects are identified. /30   pts.

 

Technique Application: Provide an   example of how you would apply a minimum of two

specifically theoretical   techniques to a fictitious client’s need.

The   description of implementation correctly aligns with each theory. Specific   needs of the client are addressed, and the description of how each theory   addresses the specific needs is clear and accurate. /54   pts.

 

Plan for Development:   Describe how you will continue to develop your knowledge and skills related   to the selected theory.

The   plan includes details and specific resources that will be accessed and   utilized to increase and enhance knowledge and skills related to the theory   of choice. /10   pts.

 

Academic Writing

Write in a clear, concise, and organized manner; demonstrate ethical   scholarship in accurate representation and attribution of sources (i.e. APA);   and display accurate spelling, grammar, and punctuation.

Written   in a clear, concise, and organized manner; demonstrated ethical scholarship   in appropriate and accurate representation and attribution of sources; and   displayed accurate spelling, grammar, and punctuation. Use of scholarly   sources aligns with specified assignment requirements. /28   pts.

 

Total /300   pts

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    RACOGNITIVEB

Unit 10 Cane Company Manufactures Two Products Called Alpha And Beta That Sell For $120 And $80,

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Cane Company manufactures two products called Alpha and Beta that sell for $120 and $80, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 100,000 units of each product. Its unit costs for each product at this level of activity are given below:

Alpha        Beta
Direct Materials             $30       $12
Direct labor                 $20          $15
Variable manufacturing overhead $7 $5
Traceable fixed manufacturing overhead $16   $18
Varaible selling expenses  $12        $8
Common Fixed Expenses $15        $10
Total cost per unit           $100      $68

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.

 

Required:

1. What is the total amount of traceable fixed manufacturing overhead for the Alpha product line and for the Beta product line?

2. What is the company’s total amount of common fixed expenses?

3. Assume that Cane expects to produce and sell 80,000 Alphas during the current year. One of Cane’s sales representatives has found a new customer that is willing to buy 10,000 additional Alphas for a price of $80 per unit. If Cane accepts the customer’s offer, how much will its profits increase or decrease?

4. Assume that Cane expects to produce 90,000 Betas during the current year. One of Cane’s sales representatives has found a new customer that is willing to buy 5,000 additional Betas for a price of $39 per unit. If Cane accepts the customer’s offer, how much will its profits increase or decrease?

5. Assume that Cane expects to produce and sell 95,000 Alphas during the current year. One of Cane’s sales representatives has found a new customer that is willing to buy 10,000 additional Alphas for a price of $80 per unit. If Cane accepts the customer’s offer, it will decrease Alpha sales to regular customers by 5,000 units. Should Cane accept this order?

6. Assume that Cane normally produces and sells 90,000 Betas per year. If Cane discontinues the Beta product line, how much will profits increase or decrease?

7. Assume that Cane normally produces and sells 40,000 Betas per year. If Cane discontinues the Beta product line, how much will profits increase or decrease?

8. Assume that Cane normally produces and sells 60,000 Betas and 80,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 15,000 unites. If Cane discontinues the Beta product line, how much would profits increase or decrease?

9. Assume that Cane expects to produce and sell 80.000 Alphas during the current year. A supplier has offered to manufacture and deliver 80,000 Alphas to Cane for a price of $80 per unit. If Cane buys 80,000 units from the supplier instead of making those units, how much will profits increase or decrease?

10. Assume that Cane expects to produce and sell 50.000 Alphas during the current year. A supplier has offered to manufacture and deliver 50,000 Alphas to Cane for a price of $80 per unit. If Cane buys 50,000 units from the supplier instead of making those units, how much will profits increase or decrease?

I need these ASAp

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7-32.

SeaFair Fashions relies on its sales force of 220 to do an initial screening of all new fashion. The company is currently bringing out a new line of swimwear and has invited 40 salespeople to its Orlando home office. An issue of constant concern to the SeaFair sales office is the volume of orders generated by each salesperson. Last year, the overall company average was $417,330 with a standard deviation of $45,285. (Hint: The finite population correction factor, Equation 7.5, is required.)

a. Determine the probability the sample of 40 will have a sales average less than $400,000.

b. What shape do you think the distribution of all possible sample means of 40 will have? Discuss.

c. Determine the scale of the standard deviation of the distribution of the sample mean of all possible samples of size 40.

d. How would the answers to parts a, b and c change if the home office brought 60 salespeople to Orlando? Provide the respective answers for this sample size.

e. Each year SeaFair invites the sales personnel with sales above the 85th percentile to enjoy a complementary vacation in Hawaii. Determine the smallest average salary for the sales personnel that were in Hawaii last year. (Assume the distribution of sales was normally distributed last year.)

7-54.

United Manufacturing and Supply makes sprinkler valves for use in residential sprinkler systems. United supplies these valves to major companies such as Rain Bird and Nelson, who in turn sell sprinkler products to retailers. United recently entered into a contract to supply 40,000 sprinkler valves. The contract called for at least 97% of the valves to be free of defects. Before shipping the valves, United managers tested 200 randomly selected valves and found 190 defect-free valves in the sample. The managers wish to know the probability of finding 190 or fewer defect-free valves if in fact the population of 40,000 valves is 97% defect-free. Discuss how they could use this information to determine whether to ship the valves to the customer.

8-12.

Allante Pizza delivers pizzas throughout its local market area at no charge to the customer. However, customers often tip the driver. The owner is interested in estimating the mean tip income per delivery. To do this, she has selected a simple random sample of 12 deliveries and has recorded the tips that were received by the drivers. These data are

$2.25 $2.50 $2.25 $2.00 $2.00 $1.50

$0.00 $2.00 $1.50 $2.00 $3.00 $1.50

a. Based on these sample data, what is the best point estimate to use as an estimate to use as an estimate of the true mean tip per delivery?

b. Suppose the owner is interested in developing a 90% confidence interval estimate. Given the fact that the population standard deviation is unknown, what distribution will be used to obtain the critical value?

c. Referring to part b, what assumption is required to use the specifies distribution to obtain the critical value? Develop a box and whisker plot to illustrate whether this assumption seems to be reasonably satisfied.

d. Referring to parts b and c, construct and interpret the 90% confidence interval estimate for the population mean.

8-38.

The Northwest Pacific Phone Company wishes to estimate the average number of minutes its customers spend on long-distance calls per month. The company wants the estimate made with 99% confidence and a margin of error of no more than 5 minutes.

a. A previous study indicated that the standard deviation for long-distance calls is 21 minutes per month. What should the sample size be?

b. Determine the required sample size if the confidence level were changed from 99% to 90%.

c. What would the required sample size be if the confidence level was 95% and the margin of error was 8 minutes?

8-56.

As the automobile accident rate increases, insurers are forced to increase their premium rates. Companies such as Allstate have recently been running a campaign they hope will result in fewer accidents by their policyholders. For each six-month period that a customer goes without an accident, Allstate will reduce the customer’s premium rate by a certain percentage. Companies like Allstate have reason to be concerned about driving habits, based on a survey conducted by Drive for Life, a safety group sponsored by Volvo of North America, in which 1,100 drivers were surveyed. Among those surveyed, 74% said that careless or aggressive driving was the biggest threat on the road. One-third of the respondents said that cell phone usage by other drivers was the driving behavior that annoyed them the most. Based on these data, assuming that the sample was a simple random sample, construct and interpret a 95% confidence interval estimate for the true proportion in the population of all drivers who are annoyed by cell phone users.

Econ 3

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28) Refer to Figure 8.2. The marginal product of the sixth worker is ________. 28) ______

A) 50

B) 0

C) -5

D) 5

 

29) Accounting profit is equal to: 29) ______

A) total revenue plus accounting cost.

B) total revenue minus implicit costs.

C) total revenue minus economic cost..

D) total revenue minus explicit costs.

 

30) Refer to the below diagrams which pertain to a purely competitive firm producing output q and the industry in which it operates. In the long run we should expect: 30)____

A)firms to enter the industry, market supply to rise, and product price to fall.

B)firms to leave the industry, market supply to rise, and product price to fall.

C)firms to leave the industry, market supply to fall, and product price to rise.

D)no change in the number of firms in this industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

31)

 

 

Refer to the above diagram for a monopolistically competitive firm in short-run equilibrium. This firm will realize an economic: 31)____

A)  loss of $320.

B)  profit of $480.

C)  loss of $480.

D)  profit of $600.

 

 

 

32) Refer to Figure 9.7. This firm’s short-run supply curve is the firm’s: 32) ______

A) AVC curve to the left of Point B.

B) marginal cost curve above Point D.

C) marginal cost curve above Point A.

D) marginal cost curve above Point B.

 

 

 

 

 

 

33) Refer to Figure 9.2. If Buffy gives 17 perms per day, her daily profit is: 33) ______

A) $51.

B) $45.

C) $3.

D) $10.

 

34) Verde Inc. has a monopoly over the production of emeralds in Ecuador. Verde Inc. will find it profitable to increase

the mining production of emeralds as long as marginal cost: 34) ______

A) is greater than marginal revenue.

B) is positive.

C) equals marginal revenue.

D) is less than marginal revenue.

 

35) The process of using public policy to gain economic profit is: 35) ______

A) rent seeking.

B) deadweight loss.

C) never successful.

D) illegal.

 

36) When a profit-maximizing firm in monopolistic competition is producing its long-run equilibrium quantity:             36)______

A) its marginal revenue will exceed its marginal cost.

B) its price will be equal to its average total cost.

C) its price will equal its marginal cost.

D) it will be earning economic profit.

 

 

 

 

 

 

 

 

37) Refer to Figure 11.2. In the long run the monopolistic competitor would generate total revenue equal to the area:

37) ______

A) 0BGD.

B) AHE0.

C) 0AFD.

D) AFGB.

 

 

38)Fill in the blanks:  Higher wages lead to higher output price, lower quantity demanded, and therefore fewer workers hired.  This effect is particularly strong when the product’s demand is ___________ and labor costs are a ________ fraction of the costs.  38)_____

A)  inelastic; large.

B)  elastic; large.

C)  inelastic; small.

D) elastic; small.

 

39) In a competitive labor market, 39) ______

A) the market wage rate is the marginal revenue product of labor.

B) the firm can hire all the labor it wants at the going market wage rate.

C) firms will hire as long as the marginal revenue product of labor is less than or equal to the market wage.

D) all of the above

 

 

40)

Table 17.3

 

Refer to Table 17.3. If the market price of the product is $4 and the firm can hire as many workers as it wants at a wage

of $40, the firm should hire ________ workers. 40) ______

A) 3

B) 2

C) 4

D) 5

 

 

 

 

 

II. SHORT ANSWER (5 questions, 4 points each). Write the phrase that best completes each statement or

answers the question.

 

41) What is the opportunity cost of investing $10,000 of your own money in a business you wish to start?

 

 

 

 

 

 

 

 

 

42) Figure 6.9 below shows the market for tobacco. If the government has no restrictions on imported tobacco, what will be the

price of tobacco and the level of tobacco produced? If the government passes a law banning tobacco imports, what

happens to the price of tobacco and the quantity of tobacco sold?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

43) Comment on the following statement: “In the short run, a firm’s total costs will be zero if the firm chooses to produce

nothing.” 43) _____________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

44) Refer to the above diagram.

 

  1. If the price in the above market, prior to reaching equilibrium, is initially $20, what will be the Quantity Supply and the Quantity Demanded?

 

  1. What is this out-of-equilibrium situation called?

 

 

  1. What will be the eventual Equilibrium Price and Quantity in the above market?

 

 

 

 

 

45) Why does Price = MR in perfect competition?

 

 

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Individual Assignment – SOX Paper

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Individual Assignment – SOX Paper

Write a paper on the Sarbanes Oxley Act of 2002.)

A formal introduction paragraph, including thesis

2) The circumstances leading up to the Act

3) A summary of the major provisions of the Act

4) How the Act changed the accounting regulatory environment

5) The perceived positive and negative effects caused by the Act since it’s implementation.

6) A formal conclusion paragraph

 

Your paper should be in APA format.  See attached APA sample paper (link at right).  Your paper should be formatted the same as the sample paper, as should any and all other papers you write in this class.

 forgot to add this part:

Your paper should include at least 5 credible references.  1 of the references must be your textbook.  Wikipedia and/or Investopedia are NOT credible references.  These are just examples… there are many more non-credible references

 

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6 Page Paper Assignment About Villa Rotonda

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Prepare an essay about Vill Rotonda that could be part of an academic publication. Your analysis will have to go beyond the visual and obvious. A close reading has to include conceptual ideas, the genesis of the building, as well as external influences and references. The assignment will be a 6 page paper (excluding images) in MLA format.

the main point :

the golden ratio, lighting, circulation, ventilation, site and The direction of the building.

add some images to support the essay.

please find the attachment.

 

thank you…

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problem 8

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STAT 200 Week 5 Homework Problems

7.1.4

Stephen Stigler determined in 1977 that the speed of light is 299,710.5 km/sec. In 1882, Albert Michelson had collected measurements on the speed of light (“Student t-distribution,” 2013). Is there evidence to show that Michelson’s data is different from Stigler’s value of the speed of light? State the random variable, population parameter, and hypotheses.

7.1.6

According to the February 2008 Federal Trade Commission report on consumer fraud and identity theft, 23% of all complaints in 2007 were for identity theft. In that year, Alaska had 321 complaints of identity theft out of 1,432 consumer complaints (“Consumer fraud and,” 2008). Does this data provide enough evidence to show that Alaska had a lower proportion of identity theft than 23%? State the type I and type II errors in this case, consequences of each error type for this situation, and the appropriate alpha level to use.

7.2.4

According to the February 2008 Federal Trade Commission report on consumer fraud and identity theft, 23% of all complaints in 2007 were for identity theft. In that year, Alaska had 321 complaints of identity theft out of 1,432 consumer complaints (“Consumer fraud and,” 2008). Does this data provide enough evidence to show that Alaska had a lower proportion of identity theft than 23%? Test at the 5% level.

7.2.6

In 2008, there were 507 children in Arizona out of 32,601 who were diagnosed with Autism Spectrum Disorder (ASD) (“Autism and developmental,” 2008). Nationally 1 in 88 children are diagnosed with ASD (“CDC features -,” 2013). Is there sufficient data to show that the incident of ASD is more in Arizona than nationally? Test at the 1% level.

7.3.6

The economic dynamism, which is the index of productive growth in dollars for countries that are designated by the World Bank as middle-income are in table #7.3.8 (“SOCR data 2008,” 2013). Countries that are considered high-income have a mean economic dynamism of 60.29. Do the data show that the mean economic dynamism of middle-income countries is less than the mean for high-income countries? Test at the 5% level.

Table #7.3.8: Economic Dynamism of Middle Income Countries

25.8057 37.4511 51.915 43.6952 47.8506 43.7178 58.0767
41.1648 38.0793 37.7251 39.6553 42.0265 48.6159 43.8555
49.1361 61.9281 41.9543 44.9346 46.0521 48.3652 43.6252
50.9866 59.1724 39.6282 33.6074 21.6643

7.3.8

Maintaining your balance may get harder as you grow older. A study was conducted to see how steady the elderly is on their feet. They had the subjects stand on a force platform and have them react to a noise. The force platform then measured how much they swayed forward and backward, and the data is in table #7.3.10 (“Maintaining balance while,” 2013). Do the data show that the elderly sway more than the mean forward sway of younger people, which is 18.125 mm? Test at the 5% level.

Table #7.3.10: Forward/backward Sway (in mm) of Elderly Subjects

19 30 20 19 29 25 21 24 50

8.1.4

Suppose you compute a confidence interval with a sample size of 100. What will happen to the confidence interval if the sample size decreases to 80?

8.1.8

In 2013, Gallup conducted a poll and found a 95% confidence interval of the proportion of Americans who believe it is the government’s responsibility for health care. Give the statistical interpretation.

8.2.6

In 2008, there were 507 children in Arizona out of 32,601 who were diagnosed with Autism Spectrum Disorder (ASD) (“Autism and developmental,” 2008). Find the proportion of ASD in Arizona with a confidence level of 99%.

8.3.6

The economic dynamism, which is the index of productive growth in dollars for countries that are designated by the World Bank as middle-income are in table #8.3.9 (“SOCR data 2008,” 2013). Compute a 95% confidence interval for the mean economic dynamism of middle-income countries.

Table #8.3.9: Economic Dynamism ($) of Middle Income Countries

25.8057 37.4511 51.915 43.6952 47.8506 43.7178 58.0767
41.1648 38.0793 37.7251 39.6553 42.0265 48.6159 43.8555
49.1361 61.9281 41.9543 44.9346 46.0521 48.3652 43.6252
50.9866 59.1724 39.6282 33.6074 21.6643

FIN534 – Solutions To All Thirteen Questions

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1.       Explain whether each of the following projects is likely to have risk similar to the average risk of the firm.

 

a.   The Clorox Company considers launching a new version of Armor All designed to clean and protect notebook computers.

 

b.   Google, Inc., plans to purchase real estate to expand its headquarters.

 

c.   Target Corporation decides to expand the number of stores it has in the southeastern United States.

 

2.       Suppose Caterpillar, Inc., has 665 million shares outstanding with a share price of $74.77, and $25 billion in debt. If in three years, Caterpillar has 700 million shares outstanding trading for $83 per share, how much debt will Caterpillar have if it maintains a constant debt-equity ratio?

 

  3.       In 2006, Intel Corporation had a market capitalization of $112 billion, debt of $2.2 billion, cash of $9.1 billion, and EBIT of more than $11 billion. If Intel were to increase its debt by $1 billion and use the cash for a share repurchase, which market imperfections would be most relevant for understanding the consequence for Intel’s value? Why?

 

4.       Suppose Goodyear Tire and Rubber Company is considering divesting one of its manufacturing plants. The plant is expected to generate free cash flows of $1.5 million per year, growing at a rate of 2.5% per year. Goodyear has an equity cost of capital of 8.5%, a debt cost of capital of 7%, a marginal corporate tax rate of 35%, and a debt-equity ratio of 2.6. If the plant has average risk and Goodyear plans to maintain a constant debt-equity ratio, what after-tax amount must it receive for the plant for the divestiture to be profitable?

 

5.       Suppose Lucent Technologies has an equity cost of capital of 10%, market capitalization of $10.8 billion, and an enterprise value of $14.4 billion. Suppose Lucent’s debt cost of capital is 6.1% and its marginal tax rate is 35%.

 

a.   What is Lucent’s WACC?

 

b.   If Lucent maintains a constant debt-equity ratio, what is the value of a project with average risk and the following expected free cash flows?

 

c.   If Lucent maintains its debt-equity ratio, what is the debt capacity of the project in part (b)?

 

6.       Acort Industries has 10 million shares outstanding and a current share price of $40 per share. It also has long-term debt outstanding. This debt is risk free, is four years away from maturity, has annual coupons with a coupon rate of 10%, and has a $100 million face value. The first of the remaining coupon payments will be due in exactly one year. The riskless interest rates for all maturities are constant at 6%. Acort has EBIT of $106 million, which is expected to remain constant each year. New capital expenditures are expected to equal depreciation and equal $13 million per year, while no changes to net working capital are expected in the future. The corporate tax rate is 40%, and Acort is expected to keep its debt-equity ratio constant in the future (by either issuing additional new debt or buying back some debt as time goes on).

 

a.   Based on this information, estimate Acort’s WACC. b.   What is Acort’s equity cost of capital?

 

7.       Suppose Goodyear Tire and Rubber Company has an equity cost of capital of 8.5%, a debt cost of capital of 7%, a marginal corporate tax rate of 35%, and a debt-equity ratio of 2.6. Suppose Goodyear maintains a constant debt-equity ratio.

 

a.   What is Goodyear’s WACC?

 

b.   What is Goodyear’s unlevered cost of capital?

 

c.   Explain, intuitively, why Goodyear’s unlevered cost of capital is less than its equity cost of capital and higher than its WACC.

 

8.       You are a consultant who was hired to evaluate a new product line for Markum Enterprises. The upfront investment required to launch the product line is $10 million. The product will generate free cash flow of $750,000 the first year, and this free cash flow is expected to grow at a rate of 4% per year. Markum has an equity cost of capital of 11.3%, a debt cost of capital of 5%, and a tax rate of 35%. Markum maintains a debt-equity ratio of 0.40.

 

a.   What is the NPV of the new product line (including any tax shields from leverage)?

 

b.   How much debt will Markum initially take on as a result of launching this product line?

 

c.   How much of the product line’s value is attributable to the present value of interest tax shields?

 

d.   GE decides to open a new Universal Studios theme park in China.

 

9.       Consider Lucent’s project in Problem 5.

 

a.   What is Lucent’s unlevered cost of capital?

 

b.   What is the unlevered value of the project?

 

c.   What are the interest tax shields from the project? What is their present value?

 

d.   Show that the  APV of Lucent’s project  matches the value  computed using the WACC method.

 

10.    Consider Lucent’s project in Problem 5.

 

a.   What is the free cash flow to equity for this project?

 

b.   What is its NPV computed using the FTE method? How does it compare with the NPV based on the WACC method?

 

11.    In year 1, AMC will earn $2000 before interest and taxes. The market expects these earnings to grow at a rate of 3% per year. The firm will make no net investments (i.e., capital expenditures will equal depreciation) or changes to net working capital. Assume that the corporate tax rate equals 40%. Right now, the firm has $5000 in risk-free debt. It plans to keep a constant ratio of debt to equity every year, so that on average the debt will also grow by 3% per year. Suppose the risk-free rate equals 5%, and the expected return on the market equals 11%. The asset beta for this industry is 1.11.

 

a.   If AMC were an all-equity (unlevered) firm, what would its market value be?

 

b.   Assuming the debt is fairly priced, what is the amount of interest AMC will pay next year? If AMC’s debt is expected to grow by 3% per year, at what rate are its interest payments expected to grow?

 

c.   Even though AMC’s debt is riskless (the firm will not default), the future growth of AMC’s debt is uncertain, so the exact amount of the future interest payments is risky. Assuming the future interest payments have the same beta as AMC’s assets, what is the present value of AMC’s interest tax shield?

 

d.   Using the APV method, what is AMC’s total market value, V L? What is the market value of AMC’s equity?

 

e.   What is AMC’s WACC? (Hint: Work backward from the FCF and V L.)

 

f.   Using the WACC method, what is the expected return for AMC equity?

 

g.   Show that the following holds for AMC: .[SHERYL: there’s an equation that should be set here, but I can’t get it out of the PDF in correct for. It’s on page 631].

 

h.   Assuming that the proceeds from any increases in debt are paid out to equity holders, what cash flows do the equity holders expect to receive in one year? At what rate are those cash flows expected to grow? Use that information plus your answer to part (f ) to derive the market value of equity using the FTE method. How does that compare to your answer in part (d)?

 

12.    Prokter and Gramble (PG) has historically maintained a debt-equity ratio of approximately 0.20. Its current stock price is $50 per share, with 2.5 billion shares outstanding. The firm enjoys very stable demand for its products, and consequently it has a low equity beta of 0.50 and can borrow at 4.20%, just 20 basis points over the risk-free rate of 4%. The expected return of the market is 10%, and PG’s tax rate is 35%.

 

a.   This year, PG is expected to have free cash flows of $6.0 billion. What constant expected growth rate of free cash flow is consistent with its current stock price?

 

b.   PG believes it can increase debt without any serious risk of distress or other costs. With a higher debt-equity ratio of 0.50, it believes its borrowing costs will rise only slightly to 4.50%. If PG announces that it will raise its debt-equity ratio to 0.5 through a leveraged recap, determine the increase in the stock price that would result from the anticipated tax savings.

 

13.    Amarindo, Inc. (AMR), is a newly public firm with 10 million shares outstanding. You are doing a valuation analysis of AMR. You estimate its free cash flow in the coming year to be $15 million, and you expect the firm’s free cash flows to grow by 4% per year in subsequent years. Because the firm has only been listed on the stock exchange for a short time, you do not have an accurate assessment of AMR’s equity beta. However, you do have beta data for UAL, another firm in the same industry:

 

AMR has a much lower debt-equity ratio of 0.30, which is expected to remain stable, and its debt is risk free. AMR’s corporate tax rate is 40%, the risk-free rate is 5%, and the expected return on the market portfolio is 11%.

 

a.   Estimate AMR’s equity cost of capital.

 

b.   Estimate AMR’s share price.

Assignment 1: Organizational Analysis – Your Experience

/in /by

N4455 Nursing Leadership and Management

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Module 5 Assignment 1: Organizational Analysis – Your Experience

Name: Date:

Overview: Organizational Analysis – Your Experience

The major assignment for this course is analysis of your organization. During the span of this course, you have been shadowing a nurse leader, observing and reflecting on skills, behaviors, and strategies that the leader exhibits. You have also been assessing and reflecting on your own leadership and management styles and skills. Now you will gather those thoughts in a more formal retrospective of your experience in the course. You may notice that the rubric for the previous assignment is similar to the rubric for this assignment. Keep in mind that the previous assignment you were presenting an analysis of the leader/manager that you shadowed and with this assignment you are presenting an analysis of the overall experience (which does include the time spent with your leader/manager).

Objectives

· Explain how organizations function.

· Compare and contrast characteristics of leadership and management.

· Apply trends, issues, theories, and evidence as guidelines for management decisions.

· Evaluate effectiveness of communications patterns using specific management situations.

Please create a new word document with title page, body of paper, and references according to 6th ed APA to submit your work.

Essential elements of scholarly writing:

· Ensure correct grammar and spelling

· Assignment should be submitted as an APA Paper, including title page and references.

· Title page is required for this Assignment and the UTACON version is expected format.

· 1-inch margins, 12 size Times New Roman font.

· Please provide all references used to support your opinions and clarify positions in the paper. The reference list begins on a separate page from the content.

· Headings are expected and must be connected to the assignment criteria following APA style. An introduction is expected providing a brief look at what is planned within the body of the paper. However, no heading is used over the introduction in APA format. A Summary is used and should have a heading over it.

· For all other style questions refer to the American Psychological Association. (2010). Publication manual of the American Psychological Association (6th ed.) Washington, DC: Author.

Rubric

Use this rubric to guide your work on the Week 5 Organizational Analysis – Your Experience.

Tasks Target Acceptable Unacceptable
Use correct grammar, punctuation, and American Psychological Association (APA) format in writing professional papers.

(max 10 points)

 (9-10 points)

APA format and style are correct and clear. Areas of focus include syntax, appearance, organization, and grammatical correctness. References and literature citations are correct. (0-2 errors)

 (5-8 points)

APA format and style are mostly correct. Areas of focus include syntax, appearance, organization, and grammatical correctness. References and literature citations are correct. (3-5 errors)

 (0-4 points)

APA format and style are minimally correct. Areas of focus include syntax, appearance, organization, and grammatical correctness. References and literature are cited but contain mistakes. (>5)
Observations

(max 30 points)

 (21-30 points)

Observations of and comments about the Nurse Manager’s effectiveness or ineffectiveness when handling conflict.

 (11-20 points)

General observations of and comments about the Nurse Manager’s effectiveness or ineffectiveness when handling conflict.

 (0-10 points)

Minimal Observations of and comments about the Nurse Manager’s effectiveness or ineffectiveness when handling conflict.
Rationale (research, examples, specific outcomes) for connections to specific styles General rationale for some connections Little or no rationale for statements provided
Reflections

(max 30 points)

 (21-30 points)

Clear description of your initial impression of the Nurse Manager and how your impression of the manager’s role has changed

 (11-20 points)

General description of your initial impression of the Nurse Manager and how your impression of the manager’s role has changed

 (0-10 points)

Vague or missing description of your initial impression of the Nurse Manager and how your impression of the manager’s role has changed
Clear identification of your leadership style with references cited. General identification of your own leadership style with references cited. Vague or missing identification of your own leadership style.
At least two specific examples of manager’s leadership skills and how your manger’s leadership style compliments, or competes against, the overall effectiveness of the organization. At least one example of manager’s leadership skills and how your manger’s leadership style compliments, or competes against, the overall effectiveness of the organization. Poorly-worded or missing example of leadership skills or no critique of effectiveness
Communication

(max 30 points)

 (21-30 points)

Specific statements of why you would or would not want the position

 (11-20 points)

N/A

 (0-10 points)

Unclear or missing statements of why you would or would not want the position
Detailed description of skills you would need and whether or not you have them now, and evidence to support your assessment List of skills you would need and whether or not you have them now Inaccurate, incomplete, or missing skills required for this position
Specific, viable types of professional development that would help you develop needed skills General activities needed to develop needed skills No activities or strategies to develop needed skills

Observations and Reflections

Reiterate the position, credentials, and leadership style of the nurse leader with whom you worked to meet the shadowing requirements of the course.

Describe an example of how the Nurse Manager handled a conflict using this leadership style and rationale to support your position on how effective or ineffective it was.

Briefly summarize what your initial impression would be of the Nurse Manager and how your impression of the Nurse Manager’s role has changed during this shadowing experience. Briefly describe your own leadership style and whether or not you feel that this style would complement the organization. Summarize how your manager’s leadership skills and style either complements or competes against the effectiveness of the organization.

Would you like this position? Why or why not? What skills would you need to develop and how would you acquire them if you were interested in this position? What types of professional development would help you develop these skills?

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