Oriole Company should pay $554,148.19 for this investment to earn an 11% return.
To calculate the amount Oriole Company should pay for the investment, we need to determine the present value of the lump sum of $740,000 to be received in 3 years. Oriole Company desires an 11% return on its investment. Using the factor table or a financial calculator, we can find the present value factor for 3 years at an 11% interest rate, which is 0.75053.Next, we multiply the future lump sum amount by the present value factor to find the amount Oriole Company should pay for the investment: Amount to pay = Future lump sum * Present value factor
= $740,000 * 0.75053
= $554,148.19Rounded to 2 decimal places, Oriole Company should pay $554,148.19 for this investment to earn an 11% return.
Therefore, the amount Oriole Company should pay for this investment to earn an 11% return is $554,148.19.
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3. A firm borrowed $1.8 million at 10% per year interest. If the firm repaid the loan in a one payment after 2 years, what was (a) the amount of the payment and (b) the amount of interest? Show up you
Payment amount: Future value formula used to calculate payment after 2 years. Interest amount: Difference between total payment and original loan amount.
(a) The amount of the payment can be calculated using the formula for the future value of a single sum: FV=PV(1+rt)
Where FV is the future value, PV is the present value, r is the interest rate, and t is the time period. In this case, the future value (FV) is the amount of the payment, the present value (PV) is $1.8 million, the interest rate (r) is 10% (0.10), and the time period (t) is 2 years. Plugging these values into the formula, we can calculate the payment amount.
(b) The amount of interest can be calculated by subtracting the original loan amount (PV) from the future value (FV). In this case: Interest=FV−PV
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Which of these is not a way for comparing energy sources?
Carbon emissions
Cost per kilowatt hour
Other negative externalities
Location
Among the given options, "Location" is not a way for comparing energy sources. Comparing energy sources typically involves assessing factors such as carbon emissions, cost per kilowatt-hour, and other negative externalities.
When comparing energy sources, it is common to consider various factors that impact their efficiency, sustainability, and overall impact on the environment and economy. Carbon emissions are a crucial aspect to assess as they contribute to climate change and air pollution. Comparing the amount of carbon emissions produced by different energy sources helps determine their environmental impact.
Cost per kilowatt-hour is another important factor in comparing energy sources. It helps evaluate the economic viability and competitiveness of different energy options. By comparing the cost per kilowatt-hour, we can assess the affordability and potential cost savings associated with each energy source.
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"Armed with vaccines and pockets full of savings, Americans will soon be in the mood to shop for some new clothes. There's just one problem: Port congestion and snarled shipping since last year means store racks could have less selection or even-gasp!-last year's fashions. Consumers across the board have more in their savings accounts after a year of spending less on travel, entertainment and restaurants and receiving three rounds of stimulus checks. Many are eager to spend on experiences they were deprived of during the pandemic, but they also have their eyes set on refreshing their wardrobes. In a recent survey conducted by Jefferies, when consumers were asked what category they would like to spend discretionary dollars on once the pandemic subsides, clothing and accessories came second behind bars, restaurants and pubs. Shoppers are already returning in healthy numbers: Same-store foot traffic at apparel and accessories retailers fully recovered to 2019 levels in the last week of March, according to data from ShopperTrak and Citi. Retailers' in-stock levels are at a record low-a sharp contrast with last April when their inventory-to-sales ratio spiked after pandemic-induced lockdowns. That ratio quickly dropped as retailers reopened, but they also canceled or postponed orders to adjust. Then, when retailers collectively started stocking up their inventory for the holiday season, port congestion issues compounded the shortage. As of January, retail stores had enough inventory to cover just over a month of sales-a record low. As much as the product delays will frustrate consumers, the effect on retailers themselves might not be so terrible. Many reaped higher gross margins last holiday season because they planned conservatively and had relatively light inventory, yet shoppers still showed up. That meant fewer discounts. L Brands, Ralph Lauren, Under Armour and Capri, which owns Michael Kors and Versace, all saw their gross margins expand compared with a year earlier. Ralph Lauren noted that its average selling price grew 19% in its quarter ended Dec. 26 compared with a year earlier. Victoria's Secret owner L Brands was able to charge at least 30% more for lingerie in North America in its quarter ended Jan. 30 compared with a year earlier, while a sister brand, PINK, was able to command almost 40% higher prices. "For the first time in a very long time, retailers have pricing power," notes Simeon Siegel, analyst at BMO Capital Markets. In that sense, low in-stock levels might actually be a hidden blessing for the retail industry if it means companies collectively steer away from pursuing heavy discounts. Higher selling prices would also allow retailers to soften the blow from shipping charges, which have surged." 1 a. Other things being equal, if the elasticity of demand for lingerie is -1.5 when L Brands raises prices for lingerie in North America, will the revenue from sales of lingerie (price times the quantity of lingerie sold) increase or decrease? Explain your answer. b. If the price elasticity of demand for a product is equal to zero, explain how the quantity demanded for the product will change if the price of the product is increased. Explain how the quantity demanded for the product will change if the price of the product is decreased. c. If the price of clothing increases along the demand curve, will the absolute value of the slope of the demand curve increase, decrease or remain the same? If the price of clothing increases along the demand curve, will demand become more elastic, less elastic or remain the same? Briefly explain your answer. d. From the article: "For the first time in a very long time, retailers have pricing power, notes Simeon Siegel, analyst at BMO Capital Markets." Would a firm have more pricing power if the demand for the product it sells is inelastic or elastic? Briefly explain your answer.
a. When the elasticity of demand for lingerie is -1.5 and L Brands raises prices, the revenue from sales of lingerie will decrease. This is because the price elasticity of demand measures the responsiveness of quantity demanded to a change in price.
With an elasticity of -1.5, a 1% increase in price would lead to a 1.5% decrease in quantity demanded, and vice versa. Therefore, as L Brands raises prices, the decrease in quantity demanded outweighs the increase in price, resulting in a decrease in revenue.
b. If the price elasticity of demand for a product is equal to zero, it means the demand is perfectly inelastic. In this case, the quantity demanded for the product will not change regardless of price. Therefore, if the price of the product is increased, the quantity demanded will remain the same. Similarly, if the price is decreased, the quantity demanded will also remain the same.
c. If the price of clothing increases along the demand curve, the absolute value of the slope of the demand curve will remain the same. The slope of the demand curve represents the price elasticity of demand. As the price of clothing increases, the slope of the demand curve remains constant because it reflects the responsiveness of quantity demanded to changes in price, not the magnitude of the price change itself.
However, as the price of clothing increases along the demand curve, the demand becomes more elastic. This is because consumers are more sensitive to price changes as prices increase. The percentage change in quantity demanded becomes larger than the percentage change in price, indicating a more elastic demand.
d. A firm would have more pricing power if the demand for the product it sells is inelastic. Inelastic demand means that consumers are less responsive to price changes, and as a result, the firm can increase prices without experiencing a significant decline in quantity demanded. This allows the firm to have greater control over pricing decisions and potentially increase its profitability. In contrast, if demand is elastic, consumers are highly responsive to price changes, and the firm would have less pricing power as increasing prices would likely lead to a significant decrease in quantity demanded.
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Consider selling a face moisterizer to a customer. How would you prepare to dialogue with customers about the product. How would you guide the customer to make a wise, informed choice?
To prepare for a dialogue about a face moisturizer and guide customers in making an informed choice, gather product knowledge, understand customer needs, and provide personalized recommendations.
How can you effectively prepare and guide customers in choosing a face moisturizer?Preparing to dialogue with customers about a face moisturizer involves several key steps. Firstly, acquiring comprehensive product knowledge is essential. This includes understanding the ingredients, benefits, and potential drawbacks of the moisturizer. Secondly, it is important to actively listen to the customer's needs, concerns, and skin type to provide tailored recommendations. Lastly, employing effective communication techniques such as clear explanations, visual aids, and addressing any doubts or questions can help guide the customer to make an informed choice.
To guide the customer in making a wise decision, it is crucial to provide them with relevant information about the product. This can involve explaining the moisturizer's specific benefits, such as hydration, anti-aging properties, or suitability for sensitive skin. Additionally, addressing any concerns or doubts the customer may have, such as potential allergic reactions or compatibility with other skincare products, can help them feel confident in their choice. Furthermore, offering personalized recommendations based on the customer's unique needs and preferences can help steer them towards the most suitable face moisturizer option.
Preparing for a dialogue with customers about a face moisturizer requires a combination of product knowledge, effective communication skills, and understanding customer needs. By actively listening, providing relevant information, and offering personalized recommendations, marketers can guide customers towards making a wise and informed choice. Ultimately, the goal is to ensure that customers feel confident in their decision and satisfied with the face moisturizer they choose.
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How can a leader apply the understanding of Maslow's hierarchy
of needs to leading and managing
Maslow's hierarchy of needs consists of five levels of needs that can be used to guide leaders in leading and managing. The hierarchy is arranged in a pyramid, with the most basic needs at the bottom and the most complex needs at the top.
Maslow's hierarchy of needs is a psychological theory that suggests that human needs are arranged in a hierarchy of five levels. In other words, Maslow's theory states that human needs must be satisfied in a particular order, with the most basic needs taking precedence over more advanced needs.
For leaders to successfully apply Maslow's hierarchy of needs, they must understand each level of the pyramid. According to Maslow, the five levels of the hierarchy are: physiological, safety, love/belonging, esteem, and self-actualization. Physiological needs are the most basic needs, such as food, water, shelter, and sleep.
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The Model of ethical decision making adopted within an
organization can determine whether the decision to be implemented
will be ethical or unethical. Explain three (3) models of ethical
decision maki
The decision-making process in an organization is crucial because it can impact the organization and the people who interact with the organization.
The ethical decision-making models that an organization adopts can determine whether a decision to be made is ethical or not. The following are three models of ethical decision making that an organization can use. These include: 1. The Utilitarian Model of Ethical Decision Making This model suggests that the ethical decision is the one that maximizes utility. That is, it ensures that the maximum number of people are happy with the decision made. In this model, the decision that is selected should provide the most good to the most people. The utilitarian model is a consequentialist theory, meaning it focuses on the outcomes of an action. It also allows people to make decisions based on empirical data, unlike other ethical models. This model also suggests that the decision-maker should consider the possible outcomes of an action and weigh the benefits against the drawbacks. 2. The Deontological Model of Ethical Decision Making This model is based on the philosophy of Immanuel Kant, who suggested that there are some ethical principles that should always be followed, regardless of the outcome. These ethical principles, known as the categorical imperative, provide rules that people should follow to act ethically. According to this model, it is the decision-maker's responsibility to do the right thing, even if the outcome is not ideal. 3. The Virtue Model of Ethical Decision Making This model focuses on the character traits of the decision-maker. It suggests that a person's character plays a significant role in ethical decision-making. In this model, the decision-maker should aim to be virtuous by cultivating good character traits such as honesty, integrity, and compassion. The virtue model suggests that good people make good decisions, and bad people make bad decisions. In conclusion, ethical decision-making models are essential in organizations as they help decision-makers to make informed decisions that are ethical. The three models discussed above, i.e., the utilitarian model, the deontological model, and the virtue model, provide different approaches to ethical decision-making and offer different perspectives that decision-makers can use to make ethical decisions.
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m1 is comprised of currency held outside banks traveler’s checks __________.
M1, also known as the monetary base, is a measure of money supply in an economy.
It includes currency held by the public, checking deposits held at banks, and traveler's checks. M1 is the narrowest definition of the money supply and is used to calculate the velocity of money and to measure the effectiveness of monetary policy. Currency held outside banks refers to physical currency, such as bills and coins, that is held by individuals and businesses outside of the banking system. Traveler's checks are a type of prepaid check that can be used as a substitute for cash while traveling. Together, currency held outside banks and traveler's checks make up a significant portion of M1, as they are both forms of money that are readily available for spending.
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A unit of account is ..... a. an individual account or deposit b. a means of preserving stored value, c. the measure in which prices are quoted. d. a price regulated by law. e. a medium of exchanging one good for another,
The correct option is c. A unit of account is the measure in which prices are quoted , and economic values are also expressed.
How is a unit of account defined?A unit of account refers to the standard measure in which prices are quoted and economic values are expressed. It serves as a common denominator for evaluating and comparing the relative worth of different goods, services, or assets in an economy.
In essence, it provides a consistent and standardized basis for pricing and economic calculations.
By using a unit of account, individuals, businesses, and governments can quantify the value of goods, services, and financial transactions. It allows for effective price comparisons, facilitating efficient decision-making and resource allocation. For example, prices of goods and services are typically quoted in a specific unit of account, such as a national currency.
Moreover, a unit of account plays a crucial role in financial and economic systems by enabling the recording and tracking of economic transactions, measuring wealth and income, and facilitating economic analysis. It provides a framework for measuring economic performance, inflation, and changes in purchasing power over time.
While a unit of account is closely associated with a currency, it is important to note that it is not limited to a specific medium of exchange. It represents a broader concept that underlies the measurement and comparison of economic values within an economy.
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Best Drones (BD) and Finest Drones (FD) comprise a duopoly in the industry of drones and they have to decide how many drones to produce annually. The drones produced by the two firms are perceived by consumers as homogeneous products. The (inverse) market demand curve is P = 50-Q, while the total output is given by Q 9BD + 9FD. Due to differences in labour cost, BD's unit cost equals $3 equals $7 thousand. thousand and FD's unit cost (a) Assuming that the firms simultaneously choose their output levels, compute the equilibrium price as well as each firm's output and profits in the market equilibrium. - (b) Will the above results change if Finest Drones moves first? Discuss briefly these results based on the theory of first/second mover advantag
a. FD's profit can be = (50 - (QBD + QFD) - 7) * QFD. b. The specific impact of FD moving first depends on the strategic behavior and reactions of both firms.
(a) To compute the equilibrium price and each firm's output and profits in the market equilibrium, we need to solve the duopoly game.
Since the drones produced by BD and FD are homogeneous, the market demand curve can be represented as P = 50 - Q, where P is the price and Q is the total output (Q = 9BD + 9FD).
Let's denote BD's output as QBD and FD's output as QFD. In the market equilibrium, QBD + QFD = Q. We can substitute this into the demand curve to get the equilibrium price:
P = 50 - (QBD + QFD)
To find each firm's output and profits, we need to consider their cost structures. BD's unit cost is $3 thousand, and FD's unit cost is $7 thousand.
In the market equilibrium, each firm maximizes its profits by choosing the output level that maximizes its revenue minus its costs. BD's profit can be calculated as follows:
ProfitBD = (P - Unit CostBD) * QBD
= (50 - (QBD + QFD) - 3) * QBD
Similarly, FD's profit can be calculated as:
ProfitFD = (P - Unit CostFD) * QFD
= (50 - (QBD + QFD) - 7) * QFD
We can solve these equations simultaneously to find the equilibrium output, price, and profits for each firm.
(b) If Finest Drones (FD) moves first, the results may change due to the theory of first/second mover advantage. In a duopoly, the order of decision-making can have an impact on the outcomes.
If FD moves first and chooses its output level, BD can observe FD's choice before making its own decision. This additional information can influence BD's strategy and potentially lead to different outcomes compared to the simultaneous decision-making scenario.
The specific impact of FD moving first depends on the strategic behavior and reactions of both firms. It could result in a different equilibrium output, price, and profits for each firm compared to the case where decisions are made simultaneously.
To fully analyze the impact of FD moving first, a detailed analysis of the firms' strategic interactions and potential reactions would be necessary.
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I need the solution to be step by step and with the same exact numbers thank you
Xerox's iGenX high-speed commercial printers. The machines cost $350,000 to $600,000 depending on what options the client selects. The operating costs and revenues generated are related to a large extent to the speed and other capabilities of the copier. Spectrum CO. is considering the four machines shown below. a) Which copier should be chosen based on PP with no return? b) Which copier should be chosen based on PP with MARR 15% per year? c) Which copier should be chosen based on PW with MARR 15% per year? Assume 3 year study period. Copier Initial Annual Operating Cost, Investment, Revenue, S S per Year S per Year iGen-1 -350,000 -200,000 +300,000 iGen-2 -450,000 -175,000 +320,000 iGen-3 -500,000 -125,000 +340,000 iGen-4 -600,000 -100,000 +380,000
Based on different criteria, the iGen-2 copier is chosen for payback period with no return, iGen-4 for payback period with MARR 15%, and iGen-4 for present worth with MARR 15%.
a) Payback Period (PP) with no return: The copier with the shortest payback period without considering any return is preferred. The payback period is the time it takes to recover the initial investment. Based on the given data, iGen-2 has the shortest payback period of 2 years (450,000/175,000), so it should be chosen.
b) PP with MARR 15% per year: The copier with the shortest payback period considering a minimum attractive rate of return (MARR) of 15% per year is preferred. Using the same logic, iGen-4 has the shortest payback period of 4 years (600,000/100,000), so it should be chosen.
c) Present Worth (PW) with MARR 15% per year: The copier with the highest present worth, which takes into account the time value of money and MARR, is preferred. To calculate the present worth, the annual costs and revenues are discounted to their present values. Using a discounted cash flow analysis over a 3-year study period, the present worth of each copier can be determined. Comparing the present worth values, iGen-4 has the highest present worth, so it should be chosen.
In summary, the iGen-2 is chosen based on PP with no return, iGen-4 is chosen based on PP with MARR 15% per year, and iGen-4 is chosen based on PW with MARR 15% per year.
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(Future value) Selma and Patty Bouvier are twins, and both work at the Springfield DMV. They decide to save for retirement, which is 35 years away. They'll both receive an annual return of 8% on their investment over the next 35 years. Selma invests $1500 per year at the end of each year only for the first 10 years of the 35 year period for a total of $15000 saved. Patty doesn't start saving for 10 years and then saves $1,500 per year at the end of each year for the remaining 25 years for a total of $37,500 saved. How much will each of them have when they retire?
Selma and Patty Bouvier are twins who work at the Springfield DMV and are saving for retirement, which is 35 years away.
Selma invests $1,500 per year for the first 10 years, while Patty starts saving after 10 years and also invests $1,500 per year for the remaining 25 years. They both receive an annual return of 8% on their investments. We need to calculate how much they will have when they retire.
Selma invests $1,500 per year for the first 10 years, so the future value of her investment can be calculated using the formula for the future value of an ordinary annuity:
FV = PMT * ((1 + r)^n - 1) / r
where FV is the future value, PMT is the annual payment, r is the annual interest rate, and n is the number of years.
Substituting the given values, we get:
FV(Selma) = 1500 * ((1 + 0.08)^10 - 1) / 0.08
≈ $27,512.07
Selma will have approximately $27,512.07 when she retires.
Patty starts saving after 10 years and invests $1,500 per year for the remaining 25 years. We can calculate her future value using the same formula:
FV(Patty) = 1500 * ((1 + 0.08)^25 - 1) / 0.08
≈ $118,792.47
Patty will have approximately $118,792.47 when she retires.
Therefore, Selma will have around $27,512.07, and Patty will have around $118,792.47 when they retire.
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a. Discuss THREE ways in which maritime transport makes an important contribution to economic growth in the Caribbean. (9 marks) b. Discuss FOUR probably reasons why the government of Jamaica still have an influential presence in the transportation industry. (12 marks) c Briefly explain TWO major factors that influence the demand of international transport services (4 marks)
a. Three ways in which maritime transport makes an important contribution to economic growth in the Caribbean are:1. Revenue and employment opportunities are provided by the shipping industry. It is critical to the economies of many Caribbean nations.
2. Since many islands in the Caribbean are not linked by road or rail, shipping is critical for transporting goods and individuals. This is referred to as inter-island transport. The shipping sector has played a critical role in inter-island trade in the Caribbean for many years.3. Since trade between the Caribbean and other nations is primarily carried out by sea, the shipping industry plays an essential role in the region's international trade.
b. Four probable reasons why the Jamaican government still has an influential presence in the transportation industry are:1. To ensure that transportation costs are kept to a minimum, the Jamaican government is still subsidizing public transportation.2. In order to have a reliable and efficient transport system, the Jamaican government is still responsible for the country's transportation infrastructure.3. To avoid congestion on the island's roadways, the Jamaican government is still promoting the use of public transportation.4. The Jamaican government is still encouraging the use of alternative modes of transportation in order to reduce the country's carbon footprint.c. Two major factors that influence the demand of international transport services are:1. The price of international transport services is the first factor that affects demand. When prices increase, demand decreases, and when prices decrease, demand increases.2. The level of economic development in a country is the second factor that affects demand. The more economically developed a country is, the more likely it is to have a higher demand for international transport services, and vice versa.
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You placed $3,278 in a savings account today that earns an
annual interest rate of 15 percent compounded annually. How much
you will have in this account at the end of 35 years? Assume that
all intere
Using the formula for compound interest, we can calculate the future value of the savings account:
FV = PV × (1 + r/n)^(n*t)
where FV is the future value, PV is the present value or initial deposit, r is the annual interest rate expressed as a decimal, n is the number of times the interest is compounded per year, and t is the time in years.
In this case, PV = $3,278, r = 15% = 0.15, n = 1 (compounded annually), and t = 35 years. Plugging these values into the formula, we get:
FV = $3,278 × (1 + 0.15/1)^(1*35)
= $3,278 × 1.15^35
= $389,042.58
Therefore, you will have approximately $389,042.58 in the savings account at the end of 35 years.
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You Placed $3,278 In A Savings Account Today That Earns An Annual Interest Rate Of 15 Percent Compounded Annually. How Much You Will Have In This Account At The End Of 35 Years? Assume That All Interest Received At The End Of The Year Is Reinvested The Next Year. Round The Answer To Two Decimal Places.
Drug use surveys likely underestimate actual drug abuse rates due to the following reasons (select ALL that apply): a. Heavy users are not expected to fully cooperate b. Drug-abusing students are more likely to be absent from school during testing periods c. Drug abusers are more likely to be forgetful d. Adolescents are usually honest about drug
Drug use surveys may underestimate actual drug abuse rates due to the following reasons, Heavy users are not expected to fully cooperate because heavy users may not want to divulge all information regarding their drug use because they may have fear of being caught by the law or fear of social stigma, which leads to underreporting in surveys.
Drug-abusing students are more likely to be absent from school during testing periods because students who have drug use issues may have absenteeism from school and it can result in their exclusion from surveys. Drug abusers are more likely to be forgetful which is likely to lead to underestimation of the number of drug users.
Adolescents are usually honest about drug use which is not a reason for underestimating drug abuse rates.The self-administered questionnaires may be insufficient for collecting accurate data. As a result, new methods of data collection have emerged, such as computer-assisted surveys and audio computer-assisted self-interviews, which attempt to solve some of these issues.
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) Analyze how telemedicine may reduce related monetary and non-monetary cost for hospital patients. (20 marks)
Discuss and illustrate why ethical concerns and fairness perception in pricing are important issues when designing service fee schedules and revenue management strategies? Support your answers with examples
Telemedicine has emerged as a transformative solution in healthcare, offering the potential to reduce both monetary and non-monetary costs for hospital patients. When analyzing the impact of telemedicine on costs, it is important to consider various factors.
Firstly, telemedicine eliminates the need for patients to physically travel to healthcare facilities, thereby reducing transportation costs, parking fees, and other associated expenses. Patients can now access medical consultations, follow-ups, and even receive prescriptions from the comfort of their own homes. This convenience not only saves money but also reduces the time and effort required for hospital visits.
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Inflation and Fiscal Policy (15 points) a. Recall the quantity theory of money discussed in class (e.g. slide 17 in Chapter 8 slides). Suppose you analyze a country where money velocity is constant over time, the growth rate of real GDP is 3% per year, and the growth rate of money supply is 5% per year. Calculate the long-run growth rate of inflation in this country according to the quantity theory of money. b. Suppose that due to changes in the financial system, the velocity of money increases at 1% per year. What happens to long-run inflation in this case? c. Now, consider the government budget constraint as shown on slide 30 of Chapter 8 slides (or Chapter 8.5 in the textbook). In that part of the class, we argued that issuing money can be used to finance government spending. The (nominal) amount of revenue the government raises from the inflation tax is AM. In this and following points, you will analyze how large the revenue from this inflation tax is, relative to the size of the economy (nominal GDP): 4. Since the change in money supply (AM) is difficult to work with, we should express the revenue as a function of the growth rate of money supply (4 = 9m). Use this definition of the growth rate of money supply to calculate the revenue from the inflation tax as a share of GDP (99) as a function of 9m and other parameters of the economy. You answer should be something like: 4y = 9m. What is x? Can you give an interpretation of it? d. Look at slide 17 in Chapter 8 slides. Take your answer to part c) of this question and use the quantity theory of money to replace the growth rate of money supply (9m) with a term that includes the inflation rate (and other terms, like the growth rate of output) c. How much revenue is raised from inflation tax as a share of GDP? Suppose that we = 10%, and use the equations from part c) and numbers from part a) of this question. Based on your answer, do you think inflation tax is an important source of revenue for the government? 1 f. What if the government is in dire fiscal need and decides to increase the growth rate of money supply to 100%, holding all other variables constant (which is unlikely to hold in real life, but let's not overcomplicate things). With this inflation rate, how much revenue is raised from inflation tax as a share of GDP? With this kind of inflation rate, is inflation tax a significant source of revenue for the government? If the government has no access to other sources of revenue (taxes or borrowing), do you think increasing money supply is a sensible strategy to follow?
According to the quantity theory of money, the growth rate of money supply (m) and velocity of money (v) is directly proportional to the price level (P) and real output (Y) (MV=PY).
Therefore, according to the Quantity Theory of Money, the long-run growth rate of inflation in this country is given by:P = MV/Y= (5% x V) / 3% = 5/3 x V, i.e. long-run growth rate of inflation in this country is 5/3 times the velocity of money.b. Suppose the velocity of money increases by 1% per year due to changes in the financial system, the long-run growth rate of inflation in this case would increase to 5/3 x (V+1)c.
The equation for government budget constraint is G = T + ∆M + ∆B, where G is government spending, T is tax revenue, ∆M is the change in the money supply, and ∆B is the change in bonds held by the public. According to this equation, the revenue from the inflation tax is AM, and the nominal GDP (Py) is equal to the government spending (G).
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what organization is implementing an affirmative action program?
An affirmative action program is a plan created by an organization to increase the number of women and minorities that are represented in its workforce. The goal of affirmative action programs is to help eliminate discrimination and create more diverse workplaces.
One organization that is implementing an affirmative action program is the United States federal government. The government has had a long history of implementing affirmative action programs to help create a more diverse workforce and to promote equality among all Americans. Other organizations that may implement affirmative action programs include private companies, universities, and non-profit organizations. These programs are typically designed to promote diversity in the workforce, and to help eliminate discrimination based on gender, race, ethnicity, religion, age, or disability.
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When the trial balance includes a debit column total of $14,350 and a credit column total of $15,350, it is probable that a $500 debit was recorded as a credit. a transposition error occurred. a $500
It is probable that a $500 debit was recorded as a credit, leading to the discrepancy in the trial balance.
based on the information provided, it is probable that a $500 debit was recorded as a credit.
when the trial balance includes a debit column total of $14,350 and a credit column total of $15,350, there is a difference of $1,000 between the two columns. this discrepancy indicates an error in recording the transactions.
among the given s, the most likely scenario is that a $500 debit was recorded as a credit. by mistakenly recording a debit as a credit, the trial balance would show an excess of $1,000 in the credit column.
transposition errors involve the accidental switching of digits, which typically results in a difference of more than $1,000. in this case, the difference is $1,000, making it less likely that a transposition error occurred.
a $500 credit being recorded as a debit would result in a total difference of $2,000 between the debit and credit columns, which does not match the given difference of $1,000.
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A research study reported that women with sleeping difficulties
are at increased risk for Type 2 diabetes. The study used data from
133,353 women who were generally healthy at the start of the study.
.Thus, the research report indicates that women with sleeping difficulties have a higher risk of developing Type 2 diabetes than those who don't.
The report proposed a possible link between poor sleeping patterns and an increased risk of insulin resistance.
A research study reported that women with sleeping difficulties are at increased risk for Type 2 diabetes. The study used data from 133,353 women who were generally healthy at the start of the study.According to a research study, women with sleeping difficulties are at increased risk for Type 2 diabetes. The study used data from 133,353 women who were generally healthy at the start of the study.The research report suggested that participants who have been experiencing trouble falling asleep more than five times a week for a minimum of six months had a 45% greater chance of developing diabetes than those who did not experience such sleep issues. Type 2 diabetes is a chronic condition that results from either the inability of the body to produce enough insulin or the body's cells becoming insulin-resistant. Poor sleep quality and quantity may result in an increased risk of insulin resistance and changes in glucose metabolism, contributing to the development of type 2 diabetes
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Southwestern University: (B)* Southwestern University (SWU), a large state college in Stephenville, Texas, enrolls close to 20,000 students. The school is a dominant force in the small city, with more students during fall and spring than permanent residents. Always a football powerhouse, SWU is usually in the top 20 in college football rankings. Since the legendary Phil Flamm was CASE STUDIES Arkansas TCU hired as its head coach in 2009 (in hopes of reaching the elusive number 1 ranking), attendance at the five Saturday home games each year increased. Prior to Flamm's arrival. attendance generally averaged 25,000 to 29,000 per game. Season ticket sales bumped up by 10,000 just with the announcement of the new coach's arrival. Stephenville and SWU were ready to move to the big time! Southwestern University Football Game Attendance, 2010-2015 2010 2011 2012 ATTENDEES OPPONENT ATTENDEES GAME 1 OPPONENT Miami ATTENDEES 35,900 OPPONENT USC 34,200 Rice 36,100 2º 39,800 Texas 40,200 Nebraska 46,500 Texas Tech 3 38,200 Duke 39,100 Ohio State 43,100 Alaska 46 26,900 25,300 Nevada 27,900 Arizona 5 35,100 36,200 Boise State 39,200 Baylor 2015 ATTENDEES OPPONENT ATTENDEES OPPONENT ATTENDEES OPPONENT GAME 1 41.900 Arkansas 42,500 Indiana 46,900 LSU 24 46,100 Missoun 48,200 North Texas 50,100 Texas 3 43,900 Florida 44,200 Texas A&M 45,900 South Florida 30,100 Central 33,900 Southern 36,300 Montana Florida 40,500 47,800 LSU Oklahoma 5 49,900 Arizona State Homecoming games. During the fourth week of each season, Stephenville hosted a hugely popular southwestern crafts fes- tival. This event brought tens of thousands of tourists to the town, especially on weekends, and had an obvious negative impact on game attendance. 2013 2014 154 PART 1 INTRODUCTION TO OPERATIONS MAN The immediate issue facing SWU, however, was not NCAA ranking. It was capacity. The existing SWU stadium, built in 1953, has seating for 54,000 fans. The following table indicates attendance at each game for the past 6 years. One of Flamm's demands upon joining SWU had been a sta- din expansion, or possibly even a new stadium. With attendance increasing, SWU adskinistrators began to face the issue head-on. Flamm had wanted dormitories solely for his athletes in the sta- dium as an additional feature of any expansion. SWU's president, Dr. Joel Wisner, decided it was time for his vice president of development to forecast when the existing stadium would "max out." The expansion was, in his mind, a given. But Wisner needed to know how long he could wait. He also sought a revenue projection, assuming an average ticket price of $50 in 2016 and a 5% increase each year in future prices. Discussion Questions 1. Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2017. 2. What revenues are to be expected in 2016 and 2017? 3. Discuss the school's options. "This integrated case study runs throughout the text. Other issues fac- ing Southwestern's football stadium include (A) managing the stadium project (Chapter 3): (C) quality of facilities (Chapter 6), (D) break-even analysis of food services (Supplement 7 Web site): (E) locating the new stadium (Chapter 8 Web site); (F) inventory planning of football programs (Chapter 12 Web site); and (G) scheduling of campus security officers/staff for game days (Chapter 13 Web site).
In this case study, Southwestern University (SWU) in Stephenville, Texas, is experiencing an increase in football game attendance since hiring a new head coach, Phil Flamm. The existing stadium's capacity is becoming an issue, and SWU's president wants to forecast when the stadium will reach its maximum capacity. Additionally, revenue projections for 2016 and 2017 are needed. The case study raises questions about forecasting attendance, expected revenues, and exploring options for the school.
To forecast attendance through 2017, SWU can utilize various forecasting techniques, such as time series analysis. This approach takes into account historical attendance data and identifies patterns and trends over time. Other techniques like regression analysis, moving averages, or exponential smoothing can also be considered. The chosen technique should be justified based on its accuracy, simplicity, and suitability for the given data and context.
Once the attendance is projected, revenues can be estimated by multiplying the projected attendance with the average ticket price. Assuming an average ticket price of $50 in 2016 and a 5% annual increase, the revenues for 2016 and 2017 can be calculated.
Regarding the school's options, they may include stadium expansion, construction of a new stadium, or exploring alternative venues for games. These options should be assessed based on their feasibility, cost implications, and impact on the overall fan experience.
Throughout the case study, other related issues such as managing the stadium project, ensuring quality facilities, break-even analysis of food services, locating the new stadium, inventory planning of football programs, and scheduling campus security officers/staff for game days are mentioned, indicating the broader operational challenges faced by SWU.
By addressing the forecasting, revenue projection, and exploring options, SWU can make informed decisions to accommodate the increasing demand for football game attendance while considering the financial and operational aspects of the stadium.
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Given: Daily demand = 50 with a standard deviation of 4, lead time = 2days, ordering cost = $100 per order, holding cost = $1 per unit per day, and safety stock of 5 units are required.
Daily demand = 50 with a standard deviation of 4Lead time = 2 days Ordering cost = $100 per order Holding cost = $1 per unit per day Safety stock of 5 units are required. The Economic Order Quantity (EOQ) formula can be used to find out how much stock a business should order each time to minimize inventory costs.
It considers the cost of placing an order, the cost of holding stock, and the rate of demand. The formula for EOQ is: EOQ = √((2DS)/H)Where: D = Annual demand S = Cost of placing an order H = Holding cost per unit per day To determine the optimal order quantity, we can use the following formula EOQ = √((2DS)/H) = √((2*50*2)/1) = 10 units per order (rounded up from 9.02)The safety stock is added to account for fluctuations in demand or lead time. It is used to avoid stockouts, and it is based on a company's desired service level.
We can calculate safety stock using the following formula: Safety stock = zσ√LWhere:z = the z-score corresponding to the desired service levelσ = the standard deviation of demand per day L = the lead time in days With a desired service level of 95 percent, the corresponding z-score is 1.65.Safety stock = zσ√L = 1.65 x 4 x √2 = 11.78 units, rounded up to 12 units. The total order quantity is the sum of the EOQ and the safety stock. Therefore, the total order quantity is:10 units + 12 units = 22 units per order The company will be placing orders for 22 units, which includes both the EOQ and safety stock. The total cost can be calculated as follows: Total cost = (D/Q)S + (Q/2)H + Dp Where: Q = order quantity D = annual demand S = ordering cost H = holding cost p = product cost Assuming a product cost of $1, the total cost can be calculated as follows: Total cost = (D/Q)S + (Q/2)H + Dp = (50/22) x 100 + (22/2) x 1 + (50 x 1) = $372.73Therefore, the total cost of ordering 22 units each time is $372.73.
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________ give the issuer the option to
repurchase (= repay) the bond before the maturity date at a
pre-specified price.
a)Convertible bonds
b)Callable bonds
c) Puttable bonds
d) Zero coupon bonds
Callable bonds give the issuer the option to
repurchase (= repay) the bond before the maturity date at a
pre-specified price.
Callable bonds are a type of bond where the issuer has the option to repurchase or "call" the bond before its scheduled maturity date. This option is typically included in the bond contract and allows the issuer to retire the debt early.
The option to call the bond benefits the issuer because it provides them with flexibility in managing their debt obligations. If interest rates decline or the issuer's financial situation improves, they may choose to call the bonds and refinance the debt at a lower interest rate. By doing so, the issuer can reduce their borrowing costs and potentially save money.
When a callable bond is called, the issuer will repay the bondholder the principal amount of the bond along with any applicable call premium specified in the bond contract. The call premium is an additional amount paid to compensate the bondholder for the early repayment of their investment.
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Paul works at the UQ Swimming Pool Complex in the cafe. Management of the Pool Complex has a policy that all Pool Complex staff must be trained in CPR. To save money, management is considering cutting this training. Kids Alive is a charity interested in pool safety. One policy of Kids Alive is to encourage more people to obtain CPR training. Which of the following statements are true: UQ Pool's management decision to train its staff in CPR is likely to be a positive externality for Kids Alive. 1fUQ Pool's management decision to train its staff in CPR is a positive externality for Kids Alive, it may be willing to pay the UQ Pool to support its staff CPR training program. O UQ Pool's decision to cut CPR training would logically produce an efficient outcome for management The marginal social benefit curve, when CPR training is given to all staff, would lie to the left of the marginal private benefit curve
the statement "uq pool's management decision to train its staff in cpr is likely to be a positive externality for kids alive" is true.
by training its staff in cpr, the uq pool complex contributes to pool safety and potentially reduces the risk of drowning incidents. this aligns with kids alive's objective of promoting pool safety, making it a positive externality for them. the training program benefits not only the uq pool complex but also the wider community, including organizations like kids alive.
the statement "if uq pool's management decision to train its staff in cpr is a positive externality for kids alive, it may be willing to pay the uq pool to support its staff cpr training program" is plausible but not explicitly stated in the given information. kids alive, being an organization concerned with pool safety, may see value in supporting the uq pool's staff cpr training program financially or through other means. however, the exact willingness or intention of kids alive to pay for the training program is not specified.
the statement "uq pool's decision to cut cpr training would logically produce an efficient outcome for management" is false. cutting cpr training would likely be a shortsighted cost-saving measure by the uq pool's management. ensuring that staff members are trained in cpr contributes to the overall safety of the pool complex and its patrons. eliminating the training program may compromise safety and increase the risk of accidents or incidents occurring. the statement "the margin social benefit curve, when cpr training is given to all staff, would lie to the left of the marginal private benefit curve" .
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You are given the following estimated equation:
log (price) = 3.85 +0.0025sqrft +0.02bdrms - 0.056colonial + 0.00068sqrftcol
(0.18) (0.0006) (0.003) (0.154) (0.00074)
n=88 R² = 0.7034
in which:
price = house price in thousands of dollars;
sqrft = size of the house in square footage;
bdrms = number of bedrooms in the house;
colonial = 1 if the house is of a colonial architecture, and 0 if not;
sqrft.col is an interaction variable equal to sqrft* colonial
a. Provide an appropriate interpretation for each partial slope in the above estimated equation. (4 pts)
b. Test the individual significance of each coefficient estimate from the above estimated equation at 5% significance level. (4pts)
C. With a 5% significance level, test the joint significance of all partial slopes in the above estimated equation. (1 pt)
d. Calculate the estimated change in a house price due to an additional four bedrooms of 200 square feet each i) if the house has a colonial architecture; ii) if the house doesn't have a colonial architecture. (2 pts)
The estimated equation provides interpretations, significance testing, and calculations for house price determinants and changes.
a. The interpretation of each partial slope in the estimated equation is as follows:
- The coefficient for sqrft (0.0025) indicates that holding other variables constant, a one-unit increase in square footage is associated with a 0.0025 increase in the logarithm of the house price.
- The coefficient for bdrms (0.02) indicates that holding other variables constant, a one-unit increase in the number of bedrooms is associated with a 0.02 increase in the logarithm of the house price.
- The coefficient for colonial (-0.056) indicates that holding other variables constant, having a colonial architecture is associated with a 0.056 decrease in the logarithm of the house price.
- The coefficient for sqrft.col (0.00068) indicates that holding other variables constant, the interaction between square footage and colonial architecture is associated with a 0.00068 increase in the logarithm of the house price.
b. To test the individual significance of each coefficient estimate, we compare the t-statistic for each coefficient to the critical t-value at a 5% significance level. If the absolute value of the t-statistic is greater than the critical t-value, the coefficient is considered statistically significant at a 5% significance level.
c. To test the joint significance of all partial slopes, we use the F-statistic. The null hypothesis is that all partial slopes are equal to zero, and we compare the calculated F-statistic to the critical F-value at a 5% significance level. If the calculated F-statistic is greater than the critical F-value, we reject the null hypothesis and conclude that there is joint significance among the partial slopes.
d. To calculate the estimated change in house price, we multiply the respective coefficients by the given values for the additional four bedrooms of 200 square feet each and evaluate the resulting change in the logarithm of the house price. Exponentiating this change will give us the estimated percentage change in the house price. We perform this calculation separately for houses with and without colonial architecture.
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In adaptive cultures, managers are concerned with their individual projects processes O end results customers c & d
The correct answer is the option that reads: "Customers and end results".
Adaptive cultures are organizational structures or frameworks that prioritize customer satisfaction and adapt to changing market conditions. Such companies promote collaboration and open communication. Managers in adaptive cultures are focused on satisfying the customers by delivering the best possible results.
In adaptive cultures, managers are less concerned about individual projects and processes. They place more emphasis on the end results, which should benefit the customers. This means that they are less concerned about their individual projects. They take a holistic approach to problem-solving and make decisions based on customer needs and market trends.
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Find the periodic payment R required to accumulate a
sum of S dollars over t years with
interest earned at the rate of r%/year compounded
m times a year. (Round your answer to the nearest
cent.)
S =
To find the periodic payment R required to accumulate a sum of S dollars over t years with interest earned at the rate of r% per year compounded m times a year, we can use the formula for the future value of an ordinary annuity:
S = R * [(1 + (r/100)/m)^(m*t) - 1] / [(r/100)/m]
To solve for R, we can rearrange the formula as follows:
R = S * [(r/100)/m] / [(1 + (r/100)/m)^(m*t) - 1]
This formula calculates the periodic payment required to accumulate the desired sum S over the given time period t, considering the interest rate r compounded m times a year.
Note: Make sure to convert the interest rate r from a percentage to a decimal before using it in the formula.
Round the final answer to the nearest cent.
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Solve the following MIS problems with short brief answers. No MIS Problem Type Solution HERE 1 You are advising the owner of ABC Computers, a small local computer shop that repairs and also builds custom computers to order. What competitive strategies could ABC Computers employ? Which ones may it have difficulty executing? You are starting a small bike messenger company. Given your type of services (hand-delivering packages within a small geographical area), could your firm be a digital firm? If so, what would make this a digital firm? 3 A colleague at work takes small amounts of office supplies for her own personal use, saying that this is a tiny loss to the company. Do you agree with what she is doing? Why or why not? 2 4 Knowing how low-quality data issues typically occur can help a company correct them. Addressing these errors will significantly improve the quality of company data and the value to be extracted from it. explain two reasons that cause low quality data. 5 You have been hired by a non-profit organization to implement a system to handle donations. The system must be able to handle and record telephone, text, and Internet donations, provide up-to-the-minute reports, and create highly customizable mailing lists. In addition, event fundraisers need to be able to quickly access a donor's information and history. Among these systems (TPS, MIS, DSS, EIS) Which one would you recommend and why?
Yes, a bike messenger company could be a digital firm if they use digital technologies to enhance their services. For example, they could use mobile apps for scheduling pickups and deliveries, GPS for tracking deliveries in real-time, and online payments for billing customers.
ABC Computers could employ the following competitive strategies:
i. Cost leadership - this involves reducing the cost of production and selling at lower prices than their competitors.
ii. Differentiation - creating a product that is unique and different from their competitors.
iii. Focus strategy - Concentrating on a specific market segment where they have a competitive advantage.
However, ABC Computers may have difficulty executing cost leadership as their larger competitors can afford to lower prices and still make a profit.
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SP 9 Serial Problem Business Solutions (Algo) LO P2, P3, C2
Following are some transactions and events of Business Solutions.
February 26 The company paid cash to Lyn Addie for eight days' work at $150 per day.
March 25 The company sold merchandise with a $2,600 cost for $3,200 on credit to Wildcat Services, invoice dated March 25.
Required:
1. Assume that Lyn Addie is an unmarried employee. Her $1,200 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $120. Compute her net pay for the eight days' work paid on February 26.
2. Record the journal entry to reflect the payroll payment to Lyn Addie as computed in part 1.
3. Record the journal entry to reflect the (employer) payroll tax expenses for the February 26 payroll payment. Assume Lyn Addie has not met earnings limits for FUTA and SUTA (the FUTA rate is 0.6% and the SUTA rate is 5.4% for the company).
4. Record the entries for the merchandise sold on March 25 if a 4% sales tax rate applies.
Complete this question by entering your answers in the tabs below.
Required 1
Assume that Lyn Addie is an unmarried employee. Her $1,200 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $120. Compute her net pay for the eight days' work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.)
Net pay
The net pay for the eight days' work paid on February 26 is $1,080
Lyn Addie is an unmarried employee who worked for 8 days at $150 per day.
The given payroll deductions of $1,200 are for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes.
The given federal income taxes for the pay period total $120.
The computation of her net pay for the eight days' work paid on February 26 is as follows: Calculation of net pay: Gross Pay = $150 × 8 = $1,200
Total Payroll Deductions = FICA Social Security taxes + FICA Medicare taxes + federal income taxes = $1,200Net Pay = Gross Pay
Total Payroll Deductions = $1,200 − $120 = $1,080
Therefore, the net pay for the eight days' work paid on February 26 is $1,080.
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Discussion Questions* 1. Angela is now going to evaluate a new salt process delivery system and wants to know if the upper and lower control limits at 3 standard deviations for the new system will meet the upper and lower control specifications noted earlier. The data (in percents) from the initial trial samples are: Sample 1: 1.98, 2.11, 2.15, 2.06 Sample 2: 1.99, 2.0, 2.08, 1.99 Sample 3: 2.20, 2.10. 2.20, 2.05 Sample 4: 2.18, 2.01, 2.23, 1.98 Sample 5: 2.01, 2.08, 2.14, 2.16 2. Given these data, what,kconclusion do you, as a Frito Lays quality control inspector, draw? What report do yod issue to your supervisor Angela? 3. What are the advantages and disadvantages of Frito-Lay drivers stocking their customers' shelves? 4. Why is quality a critical function at Frito-Lay? Frito-Lay's Quality-Controlled Potato Chips Frito-Lay's Quality-Controlled Potato Chips Frito-Lay, the multi-billion-dolla food giant, produces billions of pounds of product every year at its dozens of U.S. and Canadian plants. From the farming of potatoes-in Florida, North Carolina, and Michigan ack to factory and to retail stores, the ingredients and final product of Lay's chips, for example, are inspected at least 11 times: in the field, before unloading at the plant, after washing and peeling, at the sizing station, at the fryer, after seasoning, when bagged (for weight), at carton filling, in the warehouse, and as they are placed on the store shelf by Frito- Lay personnel. Similar inspections take place for its other famous products, including Cheetos, Fritos, Ruffles, and Tostitos. In addition to these employee inspections, the firm uses proprietary vision systems to look for defective potato chips. Chips are pulled off the high-speed line and checked twice if the vision system senses them to be too brown The company follows the very strict standards of the American Institute of Baking (AIB), standards that are much tougher than those of the U.S. Food
1. The data shows that all samples of the new salt process delivery system have values above the lower specification limit of 1.90%.
However, Sample 4 has a value below the upper specification limit of 2.25%, while Sample 3 has a value above the upper specification limit. Therefore, the conclusion as a Frito Lays quality control inspector is that there are some concerns about the new salt process delivery system meeting the upper specification limit, but it meets the lower specification limit. The report to be issued to supervisor Angela should include the results of the trial samples for the new salt process delivery system, including the upper and lower control limits at 3 standard deviations for the new system and their comparison with the upper and lower control specifications noted earlier.
2. The advantages of Frito-Lay drivers stocking their customers' shelves are that it enables faster product replenishment and better communication with store managers on inventory levels. The disadvantages are that it increases the workload of Frito-Lay drivers and can lead to inconsistency in how products are presented in different stores.
3. Quality is a critical function at Frito-Lay because it is essential to maintain customer satisfaction and loyalty. Consumers expect high-quality products from Frito-Lay, and any failure to meet their expectations could lead to a loss of revenue and market share. Quality control also helps Frito-Lay minimize costs associated with product recalls, rework, and waste.
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Keynes believed that people who would sell bonds in order to hold idle cash probably
A. Regard the present interest rate as unusually high
B. Expect the interest rate to rise
C. Expect bond prices to rise
D, Regard present bond prices as being below normal
Keynes believed that people who would sell bonds in order to hold idle cash probably regard the present interest rate as unusually high. In the world of economics, the term "cash" refers to money that is held in accounts or in the form of currency.
Cash is usually held for the purpose of acquiring something later, such as a purchase or investment.Keynesian economics is a macroeconomic economic theory created by British economist John Maynard Keynes. In his General Theory of Employment, Interest and Money, he questioned classical economics' approach to equilibrium in the market system. Keynes argued that the economy's output and employment level is influenced by total spending in the economy rather than just the supply of goods and services at the macro level.Keynesian economics suggests that governments should play an active role in the economy. By adjusting spending and taxation policies, the government can stimulate demand, which in turn increases output and employment. According to Keynes, the primary cause of economic downturns is a fall in aggregate demand, which can be corrected by increasing government spending or lowering taxes to boost demand and stimulate growth. In conclusion, Keynes believed that people who would sell bonds in order to hold idle cash probably regard the present interest rate as unusually high.
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