Some believe that Captain America can run the fastest mile o…
Questions
Sоme believe thаt Cаptаin America can run the fastest mile оf any persоn alive. In order to test this theory, Captain America decided to run the mile multiple times and record how long it took him (in seconds) to run each one. He decided to attempt running the mile 40 times and determine his average mile time. Let's assume his true mean mile time was 138 seconds with a standard deviation of 16 seconds. Use this information to find the following probability. What is the probability that his average mile time would be less than 136 seconds and more than 141 seconds? Make sure to round your final answer to 3 decimal places. For example, if you thought the answer was 0.123456 then you would type in 0.123.
QUESTION 4 – 8 POINTS Vаn Effen Industries wаs а large manufacturer оf plastic prоducts fоr sale by large retailers throughout the Midwest region of the United States. Van Effen manufactured, amongst other items, large plastic kayaks, outdoor playground equipment, and plastic coolers and chairs. Van Effen was looking for a new Chief Financial Officer. After a long search, Van Effen hired Dan Smith as its new CFO. Amongst other job responsibilities, Dan Smith was designated as a senior executive who manages Van Effen’s financial activities including creating financial models and forecasts, establishing its plans for growth, ensuring the company’s cash flow met its needs, and overseeing the accounting department. Dan Smith was paid a salary, before bonuses and benefits, of $650,000 a year. When Dan Smith was hired, Van Effen presented him with a restrictive covenant agreement – also referred to as a non-competition agreement in the employment context. Dan has his attorney review the agreement and after negotiating for certain changes, Dan Smith signed the agreement. The agreement provided as follows: You [Dan Smith] agree that for valid consideration including your salary and your bonus structure, that for a period of 10 months after you leave the employment of Van Effen or after you are terminated for cause, that you will not work as a chief financial officer, accountant, financial advisor, or in any other capacity as a consultant or advisor for financial matters for any company operating in the Midwest region of the United States for any company that is engaged in the manufacturing and sales of plastic products sold to large retail chains. You [Dan Smith] agree that this provision is fair given our access to Van Effen’s financial information, oversight over the future of the company, and access to customers. After 2 years, Dan Smith decided that he was unhappy at Van Effen. He was approached by Mid-Country Plastics about coming to work with them as a financial advisor and consultant on strategic matters involving the company’s growth and cash flow. Mid-Country Plastics was a plastics manufacturer that operated in the Midwest and directly competed with Van Effen. Dan is considering leaving Van Effen to go work with Mid-Country. Dan approaches you, as a friend, and asks for your opinion as to whether his agreement with Van Effen would prohibit him from working for Mid-Country. REQUIRED (8 Points): You conclude that Dan Smith’s agreement with Van Effen would prohibit and restrict him from immediately taking the job with Mid-Country. In separately lettered or numbered paragraphs discuss the reasons why you have concluded that Dan Smith’s non-compete is enforceable.