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Alabama was one of only sixteen states that permitted commercial hazardous waste landfills. From 1985 through 1989, the tonnage of hazardous waste received per year more than doubled. Of this, up to 90 percent of the hazardous waste was shipped in from other states. In response, Alabama imposed a fee of $97.60 per ton for hazardous waste generated outside Alabama compared with a fee of $25.60 per ton for hazardous wastes generated within Alabama.
Chemical Waste Management, Inc., which operates a commercial hazardous waste land disposal facility in Emelle, Alabama, filed suit asserting that the Alabama law violated the Commerce Clause of the U.S. Constitution.

a. What arguments could Chemical Waste Management, Inc. make in support of its claim that the statute is unconstitutional?

b. What arguments could Alabama make to defend the constitutionality of the statute?

c. Who should prevail? Explain.

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According to a recent survey of 5,828 job applications in the financial sector by Power hex, 15% of CVs of applicants to the financial sector contained some form of discrepancies, including hidden criminal records, lies about academic records or professional qualifications, amongst others. The percentage of CVs with discrepancies varies greatly depending on the type of financial service company to which the candidates were applying for. Th e percentage of CVs with discrepancies was 20% for stockbrokerage firms, 15% for insurance companies, and 10% for banks. Assume that these percentages are true for the population of financial companies in the United Kingdom and that 7% of all CVs with discrepancies were from candidates that applied for both insurance companies and banks with the same CV that was found to have discrepancies in both cases.

a. What is the probability that a randomly selected CV with discrepancies comes from a candidate that applied to either insurance companies or banks?

b. What is the probability that a randomly selected CV with discrepancies comes from a candidate that applied to either insurance companies or banks but not both?

c. What is the probability that a randomly selected CV with discrepancies comes from a candidate that did not apply to either insurance companies or banks?

d. Construct a probability matrix for this problem and indicate the locations of your answers for parts (a), (b), and (c) on the matrix.

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College Skills The Collegiate Learning Assessment Plus (CLA+) is an exam that is meant to assess the intellectual gains made between one’s freshman and senior year of college. The exam, graded on a scale of 400 to 1600, assesses critical thinking, analytical reasoning, document literacy, writing, and communication. The exam was administered to 135 freshman in Fall 2012 at California State University Long Beach (CSULB). The mean score on the exam was 1191 with a standard deviation of 187. The exam was also administered to graduating seniors of CSULB in Spring 2013. The mean score was 1252 with a standard deviation of 182 . Explain the type of analysis that could be applied to these data to assess whether CLA+ scores increase while at CSULB. Explain the shortcomings in the data available and provide a better data collection technique.

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You are a financial analyst with a major corporation, High Hopes Company. You have been assigned the task of evaluating a potential acquisition candidate, Roll-the-Dice, Inc. Selected accounting information for the two companies is presented on the next page. Information for 2003 and 2004 reports actual company results. Results for 2005 are projected from information available at the beginning of the year.

The acquisition, if it were to occur, would result in High Hopes purchasing all of the common stock of Roll-the-Dice at a price of 130 million. To finance the acquisition, High Hopes plans to issue 130 million of long-term debt at 10.7% annual interest. The debt principal would be repaid in equal installments over 10 years. The interest would be paid annually on the unpaid principal. The fair market value of Roll-the-Dice’s identifiable assets is 107 million. The fair market value of its liabilities is 35.8 million. Goodwill from the acquisition will not be amortized. There are no intercompany transactions between High Hopes and Roll-theDice. Assume that High Hopes’ income tax rate is 34%.

Required Prepare a summary pro forma income statement and statement of cash flows for High Hopes for 2005, assuming it acquires Roll-the-Dice at the beginning of 2005. What recommendation would you make to High Hopes’ management concerning the acquisition?

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