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ipn [44]
3 years ago
5

The Bankruptcy Abuse Prevention and Consumer Protection Act allows the bankruptcy court to disallow a petition for a Chapter 7 b

ankruptcy if the individual filing for bankruptcy earns an income that is __________________to meet the standards of the means test.
Business
1 answer:
Gekata [30.6K]3 years ago
5 0

The Bankruptcy Abuse Prevention and Consumer Protection Act allows the bankruptcy court to disallow a petition for a Chapter 7 bankruptcy if the individual filing for bankruptcy earns an income that is  too high to meet the standards of the means test.

<h3><u>Explanation:</u></h3>

The main aim of The Bankruptcy Abuse Prevention and Consumer Protection Act is the prevention of abuse against the process that are involved in Bankruptcy. The process that are associated with the asset liquidation is being controlled by the Chapter 7 of Title 11 U.S bankruptcy code.

The liquidation of non exempt assets to pay creditors is carried out by a trustee. There will be a discharge of the debt that remains when there is an exhaust of proceeds. If the income of an individual is too high to meet the standards of mean test , then, according to his act  the bankruptcy court to disallows a petition for a Chapter 7 bankruptcy.

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Granite State Airlines serves the route between New York and Portsmouth, NH, with a single-flight-daily 100-seat aircraft. The o
TEA [102]

Answer:

Given data: One flight with total seats = 100

Full fare passengers, cost per ticket=$150, mean=56 passengers, SD=23

Discount fare passengers, cost per ticket=$100, mean=88 passengers, SD=44

(a) Here, though there is a hint to use the CDF, since the confidence interval is not given we will make some simplying assumptions that will reduce the complexity of the question, of course keeping the question statistically correct.

this question wants us to maximize total revenue per flight (one way), we can do that by taking only full fare passengers or total revenue will be 150*100=$15,000, but since historical probability shows a mean of 56 with a standard deviation of 23, we can assume in best case scenario total full fare ticket passengers will be 56+23=79, leaving 21 tickets for discount passenger, in this case the total revenues will be 79*150+21*100=$13,950

(b) Now, the new constrained policy is giving a clear cut number of seats to each category of pasengers, 44 for discount (total revenues 44*100) and 56 for full fare (total revenues 56*150) both of which are within the probabilities given earlier (full fare mean=56, discount mean=88). Total revenues in case will be 44*100+56*150=$12,800.

(c) Gain is the difference of the excess revenues in both cases of optimal total revenues and limited seats policy or answer (a) - answer (b) = $13,950- $12,800=$1,150

(d) Realistically speaking, there is no answer for this question without a clear cut confidence interval. Another simplifying assumption we can make here is taking the mean passengers as expected bookings (can be tweaked once confidence interval or degree of significance is given). so total revenues in this case will be 44*100 from discount and 56*150 from full fare passengers. That is still similar to answer (c) due to our assumption/lack of constraints, so our optimal booking will be 54 full fare tickets and 44 discount passenger tickets. You can also take worst case scenario by subtracting SD of each passenger type from the mean or go the best case scenario in which SD of full fare will be added to the mean while the pending seats (left over from 100) will be the total to discount fare for optimal revenue collection.

6 0
3 years ago
Read 2 more answers
Select all that apply.
ahrayia [7]

Answer:

The answer is A.

Explanation:

B doesnt make much sense and C is just plain stupid

8 0
3 years ago
According to the consumption​ function,
anygoal [31]

Answer:

The correct answer is option A.

Explanation:

Consumer spending refers to the expenditure of households on consumer goods and services. The aggregate consumer spending depends upon the disposable income of the consumer, the real interest rate, consumer optimism and wealth.  

Consumer spending is positively related to disposable income, consumer optimism and wealth. The real interest rate is inversely related to consumer spending.

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3 years ago
Solar represents a minuscule portion of u.s. energy production because of ________.
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Assume the following information from a schedule of cost of goods manufactured:
Evgesh-ka [11]

Answer:

The manufacturing overhead applied to work in process is:

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a) Data and Calculations:

Beginning work in process inventory          30,000

Direct materials used in production            50,000

Direct labor                                                   60,000

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b) The manufacturing overhead applied to Work in Process is the difference between the total manufacturing costs to account for and the costs of beginning work in process, direct materials, and direct labor for the period.  When the ending work in process is deducted from the total manufacturing costs, the resulting figure represents the cost of goods transferred to finished goods inventory.

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3 years ago
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