MYMATHLAB ACCESS F/MGF 1107
MYMATHLAB ACCESS F/MGF 1107
9th Edition
ISBN: 9781323741658
Author: Tannenbaum
Publisher: PEARSON
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Textbook Question
Chapter 2, Problem 1E

Five partners ( P 1 , P 2 , P 3 , P 4 , and  P 5 ) jointly own the Gaussian Electric Company. P 1 owns 15 shares of the company, P 2 owns 12 shares, P 3 and P 4 each owns 10 shares and P 5 owns 3 shares, with the usual agreement that one share equals one vote. Describe the partnership as a weighted voting system using the standard notation [ q : w 1 , w { 2 } , ... , w N ] if

a. decisions in the partnership are made by simple majority.

b. decisions in the partnership require two-thirds of the votes.

Expert Solution
Check Mark
To determine

a)

To describe:

The partnership as a weighted voting system where decisions in the partnership are made by simple majority.

Answer to Problem 1E

Solution:

The partnership as a weighted voting system by simple majority is given as,

[26:15,12,10,10,3]

Explanation of Solution

Given:

In the Gaussian Electric Company, P1 owns 15 shares of the company, P2 owns 12 shares, P3 and P4 each owns 10 shares and P5 owns 3 shares, with the usual agreement that one share equals one vote.

Procedure:

A given number of votes are controlled by each player in a formal voting arrangement, it is said to be weighted voting system.

Calculation:

The total share of the company is 100%. The distribution of shares of the company gives the number of votes owned by P1, P2, P3, P4 and P5.15% shares are owned by P1, and it represents 15 votes of the company. 12% shares are owned by P2, and it represents 12 votes of the company. 10% shares are owned by P3, which is 10 votes of the company. 10% shares are owned by P4, which is 10 votes of the company and 3% shares are owned by P5, which is 3 votes of the company.

Total number of votes is given by,

15+12+10+10+3=50

The simple majority is considered to be more than 50% of the total number of votes.

Majority is given by,

502+1=25+1=26

The standard notation of weighted voting system where decisions in the partnership are made by simple majority is given as,

[26:15,12,10,10,3]

Conclusion:

Thus, the partnership as a weighted voting system by simple majority is given as,

[26:15,12,10,10,3]

Expert Solution
Check Mark
To determine

b)

To calculate:

The partnership as a weighted voting system where decisions in the partnership require two-thirds of the votes.

Answer to Problem 1E

Solution:

The partnership as a weighted voting system where decisions in the partnership require two-thirds of the votes is given as,

[34:15,12,10,10,3]

Explanation of Solution

Given:

In the Gaussian Electric Company, P1 owns 15 shares of the company, P2 owns 12 shares, P3 and P4 each owns 10 shares and P5 owns 3 shares, with the usual agreement that one share equals one vote.

Procedure:

A given number of votes are controlled by each player in a formal voting arrangement, it is said to be weighted voting system.

Calculation:

The total share of the company is 100%. The distribution of shares of the company gives the number of votes owned by P1, P2, P3, P4 and P5.15% shares are owned by P1, and it represents 15 votes of the company. 12% shares are owned by P2, and it represents 12 votes of the company. 10% shares are owned by P3, which is 10 votes of the company. 10% shares are owned by P4, which is 10 votes of the company and 3% shares are owned by P5, which is 3 votes of the company.

The standard notation of weighted voting system where decisions in the partnership require two-thirds of the votes is given as,

q=23 of 50=34

[34:15,12,10,10,3]

Conclusion:

Thus, the partnership as a weighted voting system where decisions in the partnership require two-thirds of the votes is given as,

[34:15,12,10,10,3]

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Chapter 2 Solutions

MYMATHLAB ACCESS F/MGF 1107

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