An elevator operator typically purchases huge amounts of grain from farmers. Assume the following prices. Date Spot Price /Bu March Futures Price September 1 $2.10 $2.34 October 1 $2.05 $2.20 November 1 $2.20 $2.38 It costs the elevator $0.05/Bu/month to store the grain. An elevator purchases grain from a farmer on September 1. He has no immediate buyer, so he puts it into storage and hedges. On November 1 he has a buyer at one cent over the spot price. He thus sells his grain at that price and immediately liquidates his hedge. What is the total profit per bushel, from both the spot and futures markets, of the elevator operator

True or false: a fitted model with more predictors will necessarily have a lower training set error than a model with fewer predictors.

Performance bicycle company makes steel and titanium handle bars for bicycles. it requires approximately 1 hour of labor to make one handle bar of either type. during the most recent accounting period, barr company made 7,700 steel bars and 2,300 titanium bars. setup costs amounted to $35,000. one batch of each type of bar was run each month. if a single company-wide overhead rate based on direct labor hours is used to allocate overhead costs to the two products, the amount of setup cost assigned to the steel bars will be:

Horace society is planning its annual western fair raceway gala. the gala committee has assembled the following expected costs for the event: dinner (per person) $10 gaming token and program (per person) $2 prize payouts $4,300 tickets and advertising $800 private box suite rental $1,700 lottery licenses $200 the committee members would like to charge $40 per person for the evening’s activities.required: 1. what is the break-even point for the dinner-dance (in terms of the number of persons who must attend)? 2. assume that last year only 200 persons attended the dinner-dance. if the same number attend this year, what price per ticket must be charged in order to break even? 3. refer to the original data ($40 ticket price per person). prepare a cvp graph for the dinner- dance from zero tickets up to 600 tickets sold.