Questions:Please complete the following items from your textbook in a Word file and submitto the Week 3 Homework Dropbox.Chapter 7 Case Problems: 1, 3, and 4Chapter 8 Case Problem: 1Chap 7:1.Joan S. and her husband are planning a vacation to a destination about which theyknow very little. They have seen an exciting ad for this area in a travel magazine.They respond to the ad, and subsequently they receive a group of fascinatingbrochures describing all the attractions, accommodations, shops, climate, and otherallures. In the same magazine they saw an ad for an airline that serves thisdestination, including Web site information for reservations. Should they maketheir own reservations or should they seek the help of a travel agency?3.A prominent national columnist recently advised his readers that they shouldbypass their local travel agencies and obtain their cruise vacations directly from thesuppliers by phone or Internet. This recommendation was intended to save thepublic money because, he explained, ship lines pay commissions to travel agencieswhenever a sale is made. Whats wrong with such advice?4.An international tour company partnership is owned by Bill and Jane W. Bill is arather deliberate, cautious type; Jane tends to be more aggressive and promotionalin her day-to-day business relationships. The companys volume of business hasdeclined somewhat during the past two years. Considering the decline, the couplerecently had an extended discussion as to possible steps that might increase toursales. Jane finally proposed that they should contact some of the largest travelagency cooperatives, also known as co-ops, consortia, franchisers, joint marketingorganizations, stockholder licensee groups, and individual and corporate-ownedchains. Jane thought that perhaps if their company could become a so-calledpreferred supplier to one or several of these groups, they would then increase theirbusiness considerably. Almost all of their tours are sold through retail travelagencies. Bill listened to this suggestion and then said, I doubt that this idea woulddo us any good. The co-op movement is not well established, and a lot of agenciesare not members at all. Whos right? Why? Explain your position.Chap 8:1.Many of the states in the United States are experiencing budget problems. Anumber of legislatures are considering legalizing gaming (gambling). Some stateshave already done so. As a state representative, you have decided to introducelegislation legalizing gaming to bolster your states budget. What would be yourarguments supporting this bill? What opposition would you expect?Responds:Chap 7: