Question

Suppose a firm has 16.1 million shares of common stock outstanding and seven candidates are up for election to six seats on the board of directors.
a. If the firm uses cumulative voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board?
b. If the firm uses straight voting to elect its board, what is the minimum number of votes needed to ensure election of one member to the board?

Answer 1

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.