The large influx of shrimp imports into the United States from Asia and Latin America depressed wholesale prices by over 40 percent between 1997 and 2002. Despite such lower prices, shrimp entrées at some U. S. seafood restaurants rose by about 28 percent during the same period. Discuss why prices (e.g., shrimp prices at seafood restaurants) are not aligned with costs.

A seller agreed to deliver 300 tons of coffee to a buyer, FOB port of Montreal, Canada. The goods were transported and unloaded at the port and kept at a customs shed for inspection and payment of duties. The buyer was notified of the arrival of the merchandise and its location. Before the buyer picked up the goods, the customs shed (including the merchandise in it) was destroyed by fire. The buyer claims refund of the purchase price stating that she did not receive the goods. Is the seller responsible? With reference to the question, would the outcome be different if the contract had been DPU port of Montreal?

A seller in New York agreed to ship goods to a buyer in Lima, Peru under a CIF contract. The goods were loaded on the ship and the seller tendered the necessary documents to the buyer for payment (in New York). The buyer refused payment, claiming that it will only pay after inspection upon arrival of the goods at the port of destination. Is the seller entitled to payment before arrival of the goods?

Q3: Impact of metal contamination on marine invertebrates [36 marks] A researcher is testing the effects of metal contamination on the number of species found in marine invertebrates (sponges, bryozoans and sea squirts etc.). In particular, they would like to know whether copper enrichment reduces species richness, but the richness also depends on whether the substrate is vertical or horizontal. Consequently, they ran an experiment where species richness was recorded in samples from the six combinations of Copper ("None", "Low", "High") and Orientation ("Vertical", "Horizontal"). Make reference to the SPSS output below in your answers to the following questions. Dependent Variable Richness Corrected Model intercept Copper Orientation Copper Onentation Error Total Corrected Total Expected Cum Prob 18 Tests of Between-Subjects Effects OF Type Sum of Squares 4140.733" 203700 267 3330 033 240.000 570.700 467.000 200308 000 4607.733 Normal PP Plot of Residual for Richness 34 Observed Cum Prob af 10 Maan Square 5 F 828.147 95.760 1 203700.267 23554.206 *001 *001 2 a) What are the sources of variation in Richness that are illustrated in the side-by-side boxplots and analyzed in an ANOVA procedure? [3 marks] b) What are the appropriate statistical terms for the variables Richness and Copper? [2 marks] c) What is the most appropriate statistical method to apply to this data? Fully justify your selection. [4 marks] d) Write appropriate null hypotheses (Ho) for this question (don't worry about the alternative hypotheses this time). Be sure to label your hypotheses clearly, so we can tell what goes with what. [5 marks]