Makespan refers to the total time required to complete a group of jobs or tasks.
It is a common metric used in scheduling and production planning to assess the efficiency and performance of a system. The makespan represents the duration from the start of the first job to the completion of the last job in a given set or batch of tasks. Makespan is a term commonly used in scheduling and production planning. It refers to the total duration or time required to complete a set of tasks or jobs.
The objective in minimizing the makespan is to efficiently allocate resources and schedule tasks in such a way that the total time taken to complete all the jobs is minimized. This can involve sequencing the tasks, assigning resources effectively, and optimizing the overall workflow to achieve the shortest possible makespan.
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A semi-annual government bond selling for R937, with a coupon of 5.7% has a YTM of 13.9%. The bond matures in 25 years, but can be called in 9 years at a call price of R1059. What value do you need to input into your calculator for "N" to calculate Yield to Call?
The value to input for "N" in order to calculate the Yield to Call of a semi-annual government bond can be determined based on the bond's characteristics.
In this case, the bond is selling for R937 with a coupon rate of 5.7% and a Yield to Maturity (YTM) of 13.9%. The bond matures in 25 years but can be called in 9 years at a call price of R1059. To calculate the Yield to Call, we need to determine the number of semi-annual periods remaining until the call date. Since the bond matures in 25 years and can be called in 9 years, the remaining periods until the call date would be (25 - 9) * 2 = 32 semi-annual periods. Therefore, the value to input for "N" in the calculator would be 32.
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Do you think management should ever share its decision
making with subordinates? Why or why not in terms of benefits
and/or consequences?
Yes, management should share its decision-making with subordinates. One of the most critical components of effective management is decision-making.
The act of determining the appropriate path forward for an organization is the cornerstone of leadership, and effective decision-making requires significant expertise and experience. Given the importance of the process, some management experts believe that executives should make decisions on their own and keep their thought processes confidential.However, this approach has certain drawbacks. Not only can it foster a culture of distrust between management and employees, but it also fails to take into account the insights and knowledge that subordinates possess.
Employees that work directly with customers, for example, may have useful feedback on product offerings that management isn't privy to, and seeking that input can lead to better decision-making. In conclusion, management should share its decision-making with subordinates to foster a sense of collaboration and respect between departments. By doing so, management can take advantage of the knowledge and insights that employees have to offer, ultimately making more informed and effective decisions.
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Identify then explain the four types of installation.
Identify then explain the deliverables from logic modeling.
Discuss modeling logic with decision tables.
Discuss how DFDs can be used as analysis tools.
Identify then explain and discuss four types of documents that would be helpful in determining future system requirements.
Four types of installation: New Installation, Replacement Installation, Parallel Installation.
a. New Installation: In this type of installation, a new system is implemented in an organization where no previous system existed. It involves installing both the hardware and software components required for the new system.
b. Replacement Installation: Replacement installation occurs when an existing system is replaced with a new one. This may be necessary due to outdated technology, system inefficiencies, or the need for enhanced functionality. The new system is installed and replaces the old one, often requiring data migration and training for the users.
c. Parallel Installation: Parallel installation involves running both the old and new systems simultaneously for a period of time. This allows for a gradual transition to the new system, as users become familiar with the new system and any issues can be identified and resolved. Once the new system is deemed reliable and effective, the old system is discontinued.
d. Phased Installation: Phased installation is a gradual implementation of the new system in different phases or modules. Each phase is implemented and tested independently before moving on to the next phase. This approach allows for better control and reduces the risks associated with a full system rollout.
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A) Daily Enterprises is purchasing a $14,000,000 machine. The machine will depreciated using straight-line depreciation over its 5 year life and will have no salvage value. The machine will generate revenues of $7,000,000 per year along with costs of $2,000,000 per year. If Daily's marginal tax rate is 39%, what will be the cash flow in each of years one to 5 (the cash flow will be the same each year)?
B) A project requires an increase in net working capital of $300,000 at time 0 that will be recovered at the end of its 14 year life. If opportunity cost of capital is 12%, what is the effect on the NPV of the project? Enter your answer rounded to two decimal places.
Effect on NPV=
C) A store will cost $625,000 to open. Variable costs will be 44% of sales and fixed costs are $220,000 per year. The investment costs will be depreciated straight-line over the 6 year life of the store to a salvage value of zero. The opportunity cost of capital is 5% and the tax rate is 40%.Find the operating cash flow if sales revenue is $950,000 per year.
A) The cash flow in each of years one to five will be $3,400,000.
B) The effect on the NPV of the project is -$244,221.69.
C) The operating cash flow will be $422,000.
A) To calculate the cash flow in each year, we need to subtract the costs from the revenues. Since the machine will generate revenues of $7,000,000 per year and costs of $2,000,000 per year, the annual cash flow will be $7,000,000 - $2,000,000 = $5,000,000. Considering the marginal tax rate of 39%, the after-tax cash flow will be $5,000,000 * (1 - 0.39) = $3,050,000.
However, since the cash flow will be the same each year, we need to account for the depreciation of the machine over its 5-year life. The depreciation expense per year will be $14,000,000 / 5 = $2,800,000. Therefore, the final cash flow in each year will be $3,050,000 - $2,800,000 = $250,000. Multiplying this by the number of years, we get $250,000 * 5 = $1,250,000. Since the cash flow will be the same each year, the cash flow in each of years one to five will be $1,250,000.
B) The effect on the NPV of the project due to the increase in net working capital can be calculated by considering the opportunity cost of capital. The increase in net working capital of $300,000 at time 0 represents an outflow of cash. This initial cash outflow needs to be discounted to its present value using the opportunity cost of capital of 12% over the 14-year life of the project. The present value of the cash outflow can be calculated as $300,000 / (1 + 0.12)^14 = $84,221.69. Therefore, the effect on the NPV of the project will be -$84,221.69. Rounded to two decimal places, the effect on the NPV is -$244,221.69.
C) The operating cash flow can be calculated by subtracting the variable costs and fixed costs from the sales revenue. The variable costs, which are 44% of the sales revenue, can be calculated as $950,000 * 0.44 = $418,000. The operating cash flow before depreciation and taxes will be $950,000 - $418,000 - $220,000 = $312,000. Since the investment costs are depreciated straight-line over the 6-year life of the store to a salvage value of zero, the annual depreciation expense will be $625,000 / 6 = $104,167. Considering the tax rate of 40%, the after-tax depreciation expense will be $104,167 * (1 - 0.40) = $62,500. Therefore, the final operating cash flow will be $312,000 + $62,500 = $374,500. Considering the opportunity cost of capital of 5%, the present value of the operating cash flow will be $374,500 / (1 + 0.05)^6 = $261,226.74. Rounded to the nearest dollar, the operating cash flow is $261,227.
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1. The total return on a "plain vanilla" (no-frills) bond, if sold prior to maturity, depends on three factors. Which of the following does not belong? Indicate by letter. a. Price change b. Coupon change c. Interest earned d. Interest-on-the-interest earned
2. True or False: "Duration Drift" has to do with the natural tendency for Duration to increase over time.
3. True or False: When a bond’s coupon is paid, its Duration experiences a "hiccup."
4. True or False: The hiccup causes duration to increase momentarily.
5. A high- or low-coupon bond will have greater duration. Which is it?
1. The factor that does not belong among the three factors determining the total return on a bond sold prior to maturity is d. Interest-on-the-interest earned. 2. False: "Duration Drift" does not refer to the natural tendency for Duration to increase over time. 3. False: When a bond's coupon is paid, its Duration does not experience a "hiccup." 4. False: The "hiccup" does not cause duration to increase momentarily. 5. A low-coupon bond will have greater duration compared to a high-coupon bond.
1. The factor that does not belong among the three factors determining the total return on a bond sold prior to maturity is d. Interest-on-the-interest earned. The total return on a bond is influenced by changes in its price, changes in coupon payments, and the interest earned on the bond.
2. False: "Duration Drift" does not refer to the natural tendency for Duration to increase over time. Duration drift refers to the potential for a bond's duration to change due to various factors, such as changes in interest rates or cash flows.
3. False: When a bond's coupon is paid, its Duration does not experience a "hiccup." Duration measures the sensitivity of a bond's price to changes in interest rates and is not directly affected by the payment of coupon interest.
4. False: The "hiccup" does not cause duration to increase momentarily. The payment of a bond's coupon does not impact its duration. Duration remains a measure of the bond's price sensitivity to changes in interest rates.
5. A low-coupon bond will have greater duration compared to a high-coupon bond. Duration is influenced by the timing and size of a bond's cash flows. A low-coupon bond typically has longer cash flow durations, meaning that its price is more sensitive to changes in interest rates compared to a high-coupon bond with shorter cash flow durations.
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Ex. 175
Cain, Foley, and Hardy formed a partnership on January 1, 2012. Cain invested $60,000, Foley $60,000 and Hardy $140,000. Cain will manage the store and work 40 hours per week in the store. Foley will work 20 hours per week in the store, and Hardy will not work. Each partner withdrew 40 percent of his income distribution during 2012. If there was no income distribution to a partner, there were no withdrawals of cash.
Instructions
Compute the partners' capital balances at the end of 2012 under the following independent conditions: (Hint: Use T accounts to determine each partner's capital balances.)
Ex. 175 (Cont.)
(1) Net income is $120,000 and the income ratio is Cain 40%, Foley 35%, and Hardy 25%.
(2) Net income is $125,000 and the partnership agreement only specifies a salary of $50,000 to Cain and $30,000 to Foley.
(3) Net income is $76,000 and the partnership agreement provides for (a) a salary of $40,000 to Cain and $40,000 to Foley, (b) interest on beginning capital balances at the rate of 10%, and (c) any remaining income or loss is to be shared by Cain 40%, Foley 35%, and Hardy 25%.
To compute the partners' capital balances at the end of 2012, we need to consider the initial investments, net income, salary allocations, withdrawals, and the distribution of remaining income or loss according to the partnership agreement.
Let's calculate the capital balances under the given conditions:
(1) Net income is $120,000, and the income ratio is Cain 40%, Foley 35%, and Hardy 25%:
Cain's capital balance:
Initial investment: $60,000
Share of net income: 40% * $120,000 = $48,000
Withdrawals: 40% * $48,000 = $19,200
Capital balance: $60,000 + $48,000 - $19,200 = $88,800
Foley's capital balance:
Initial investment: $60,000
Share of net income: 35% * $120,000 = $42,000
Withdrawals: 40% * $42,000 = $16,800
Capital balance: $60,000 + $42,000 - $16,800 = $85,200
Hardy's capital balance:
Initial investment: $140,000
Share of net income: 25% * $120,000 = $30,000
Withdrawals: 40% * $30,000 = $12,000
Capital balance: $140,000 + $30,000 - $12,000 = $158,000
(2) Net income is $125,000, and the partnership agreement only specifies a salary of $50,000 to Cain and $30,000 to Foley:
Cain's capital balance:
Initial investment: $60,000
Salary: $50,000
Share of net income: $125,000 - $50,000 - $30,000 = $45,000
Withdrawals: 40% * $45,000 = $18,000
Capital balance: $60,000 + $45,000 - $18,000 = $87,000
Foley's capital balance:
Initial investment: $60,000
Salary: $30,000
Share of net income: $45,000
Withdrawals: 40% * $45,000 = $18,000
Capital balance: $60,000 + $45,000 - $18,000 = $87,000
Hardy's capital balance remains unchanged at $140,000 since there is no specified salary for him.
(3) Net income is $76,000, and the partnership agreement provides for:
(a) a salary of $40,000 to Cain and $40,000 to Foley,
(b) interest on beginning capital balances at the rate of 10%, and
(c) any remaining income or loss is to be shared by Cain 40%, Foley 35%, and Hardy 25%.
Cain's capital balance:
Initial investment: $60,000
Salary: $40,000
Share of net income: $76,000 - $40,000 - $40,000 = -$4,000 (loss)
Interest on beginning capital balance: 10% * $60,000 = $6,000
Withdrawals: 40% * -$4,000 = -$1,600
Capital balance: $60,000 - $1,600 + $6,000 = $64,400
Foley's capital balance:
Initial investment: $60,000
Salary: $40,000
Share of net income: -$4,000 (loss)
Interest on beginning capital balance: 10% * $60,000 = $6,000
Withdrawals: 40% * -$4,000 = -$1,600
Capital balance: $60,000 - $1,600 + $6,000 = $64,400
Hardy's capital balance:
Initial investment: $140,000
Share of net income: -$4,000 (loss)
Interest on beginning capital balance: 10% * $140,000 = $14,000
Withdrawals: 25% * -$4,000 = -$1,000
Capital balance: $140,000 - $1,000 + $14,000 = $153,000
Please note that the negative net income in scenario (3) resulted in a loss, affecting the capital balances accordingly.
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A new physician service office is being planned which will be open during normal operating hours and offer extended care. Total operating hours will be 18 hours a day, 5 days a week and six hours on Saturdays. If you need to staff the check-in station at all times the office is operating, how many FTEs will be needed? Each year, an FTE is paid for 10 days of vacation, five days of sick leave and 2 education days. You do not need to account for lunches or break times for this exercise. Total hours per employee 2,080 hours annually (productive and unproductive time).
In September, the director of Henson Hospital rewarded each of the four administrative assistants a 6% raise, effective October 1. Unfortunately, unexpected budget problems led to postponing the raises until February. Two of the assistants currently make $36,000 per year and the two other assistants make $28,000 per year. What is the financial impact of the postponement, considering they must be paid retroactively for the increase?
To calculate the number of Full-Time Equivalents (FTEs) needed to staff the check-in station at the physician service office, we need to consider the total operating hours and the working hours per employee.
Total Operating Hours: 18 hours/day x 5 days/week = 90 hours/week 90 hours/week + 6 hours on Saturdays = 96 hours/week Working Hours per Employee: 2,080 hours annually / (52 weeks/year) = 40 hours/week Considering that each employee works 40 hours per week, we can calculate the number of FTEs needed as follows: FTEs needed = Total operating hours / Working hours per employee FTEs needed = 96 hours/week / 40 hours/week FTEs needed ≈ 2.4 FTEs Since FTEs represent full-time positions, rounding up to the nearest whole number, we would need approximately 3 FTEs to staff the check-in station at the physician service office at all times during operating hours. Regarding vacation, sick leave, and education days, assuming an FTE is paid for these days, we can subtract the total number of non-working days per FTE from the total number of working days in a year. Total non-working days per FTE = 10 vacation days + 5 sick leave days + 2 education days = 17 days Total working days per FTE = 365 days/year - 17 non-working days = 348 days Therefore, each FTE is expected to work 348 days per year.
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Assume that a Parent company owns 80 percent of its Subsidiary. On January 1, 2019, the Parent company had a $300,000 (face) 8 percent bond payable outstanding with a carrying value of $286,800. Several years ago, the bond was originally issued to an unaffiliated company for 92 percent of par value. On January 1, 2019, the Subsidiary acquired the bond for $274,500.
During 2019, the Parent company reported $1,140,000 of (pre-consolidation) income from its own operations (i.e., prior to any equity method adjustments by the Parent company) and after recording interest expense. The Subsidiary reported $330,000 of (pre-consolidation) income from its own operations after recording interest income. Related to the bond during 2019, the parent reported interest expense of $25,800 while the subsidiary reported interest income of $27,000.
Determine the following amounts that will appear in the 2019 consolidated income statement:
Account Amount
a. Interest income from bond investment Answer
b. Interest expense on bond payable Answer
c. Gain (Loss) on constructiveretirement of bond payable. Answer
d. Controlling interest in consolidated net income Answer
e. Noncontrolling interest in consolidated net income Answer
To determine the amounts that will appear in the 2019 consolidated income statement, we need to calculate the relevant figures based on the given information.
a. Interest income from bond investment:
The subsidiary acquired the bond for $274,500 and reported interest income of $27,000.
Since the parent company owns 80% of the subsidiary, the interest income from the bond investment would be:
Interest income = Acquisition price × Ownership percentage × Interest rate
Interest income = $274,500 × 80% × 8% = $17,520
b. Interest expense on bond payable:
The parent company reported interest expense of $25,800 on the bond payable.
Since the parent company owns 80% of the subsidiary, the interest expense on the bond payable would be:
Interest expense = Total interest expense × Ownership percentage = $25,800 × 80% = $20,640
c. Gain (Loss) on constructive retirement of bond payable:
To calculate the gain or loss on constructive retirement of the bond payable, we need to compare the carrying value of the bond ($286,800) with the amount paid by the subsidiary to acquire the bond ($274,500).
Gain (Loss) = Amount paid - Carrying value
Gain (Loss) = $274,500 - $286,800 = -$12,300 (a loss of $12,300)
d. Controlling interest in consolidated net income:
The controlling interest in consolidated net income is calculated by subtracting the noncontrolling interest from the consolidated net income.
Consolidated net income = Parent's pre-consolidation income + Subsidiary's pre-consolidation income
Consolidated net income = $1,140,000 + $330,000 = $1,470,000
Controlling interest in consolidated net income = Consolidated net income × Ownership percentage
Controlling interest = $1,470,000 × 80% = $1,176,000
e. Noncontrolling interest in consolidated net income:
Noncontrolling interest in consolidated net income = Consolidated net income - Controlling interest
Noncontrolling interest = $1,470,000 - $1,176,000 = $294,000
Therefore, the amounts that will appear in the 2019 consolidated income statement are:
a. Interest income from bond investment: $17,520
b. Interest expense on bond payable: $20,640
c. Gain (Loss) on constructive retirement of bond payable: -$12,300
d. Controlling interest in consolidated net income: $1,176,000
e. Noncontrolling interest in consolidated net income: $294,000
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You plan to return to graduate school in five years. To save for your tuition, you plan to deposit $4,300 per year into an account, beginning immediately (beginning of the year) You will make five annual deposits into this account, which earns 6.50% annual interest Under these assumptions, how much will you have in your account at the end of the 5th year?
At the end of the 5th year, you will have approximately $24,682.42 in your account if you make annual deposits of $4,300 and earn a 6.50% annual interest rate.
To save for your graduate school tuition, you plan to deposit $4,300 per year into an account for a total of five years.
The account earns an annual interest rate of 6.50%. By the end of the 5th year, your account will have accumulated approximately $24,682.42.
To calculate the final amount, we use the formula for the future value of an ordinary annuity.
This formula takes into account the annual deposit amount, interest rate, and the number of periods.
In this case, the annual deposit is $4,300, the interest rate is 6.50% (or 0.065 as a decimal), and the number of periods is 5.
By plugging these values into the formula and solving for the future value, we find that the account will accumulate approximately $24,682.42.
This means that if you consistently deposit $4,300 per year and earn an annual interest rate of 6.50%, your account will grow to around $24,682.42 by the end of the 5th year.
This amount can be used towards your graduate school tuition expenses.
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United Recycling Inc. is one of the largest recyclers of glass and paper products in the United States. The company is looking into expanding into the cardboard recycling business. The company's CFO has performed a detailed analysis of the proposed expansion. The company's CFO hired a third-party consulting firm to estimate the cost per ton of processing the cardboard. The consulting firm's cost estimate for processing the cardboard was significantly higher than what the CFO had been using in his financial model. Based on the information given, determine which of the statements is correct. When the CFO adjusts the cost per ton of processing the cardboard, the project's NPV will decrease. When the CFO adjusts the cost per ton of processing the cardboard, the project's NPV will increase. Evaluating risk is an important part of the capital budgeting process. Which of the following represents the project's risk to the corporation as opposed to investors' risks? Market, or beta, riski Stand-alone risk Corporate, or within-firm, riski When dealing with , diversification is totally ignored.
In the scenario described in the question, when the CFO adjusts the cost per ton of processing the cardboard, the project's NPV will decrease.
There are different aspects to consider when dealing with the expansion of a business. Evaluating risks is an important part of the capital budgeting process. Among the different types of risks that should be considered, we have market, stand-alone, and corporate risk.
Each of these refers to different sources of uncertainty that could affect the success of a project in different ways. In the case of the scenario presented in the question, it seems that the CFO of United Recycling Inc. has performed a detailed analysis of the proposed expansion of the business, which involves moving into the cardboard recycling.
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True or False Explain:
Empirical evidence on the long-run wealth effects of initial public offerings (as discussed in lectures) demonstrates that in the long run investors in US IPOs are, on average, much better off investing in the IPO firms (rather than in other similar non-IPO firms) because they earn positive returns.
The statement "Empirical evidence on the long-run wealth effects of initial public offerings (IPOs) demonstrates that in the long run investors in US, IPOs are, on average, much better off investing in the IPO firms because they earn positive returns" is false.
While some IPOs may experience significant positive returns in the long run, there is also evidence of substantial variation in IPO performance. Many studies have shown that a significant number of IPOs underperform the market or experience negative returns in the years following their initial offering.
This suggests that investing in IPO firms does not guarantee positive returns for investors in the long run. There are several factors that contribute to the mixed performance of IPOs. These include market conditions, timing of the IPO, firm-specific characteristics, and overall economic factors.
It is important to note that investing in IPOs carries inherent risks, and investors should carefully evaluate the specific company's fundamentals, market conditions, and other relevant factors before making investment decisions.
In conclusion, while some IPOs may provide positive long-run returns, the overall evidence does not support the claim that investors in US IPOs are, on average, much better off compared to investing in other similar non-IPO firms. Investors should exercise caution and conduct thorough due diligence when considering investing in IPOs.
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Mikayla, Reyna and Derron are seeking your help to determine the annual nominal rate of interest compounded weekly that is equivalent to 9% per annum compounded monthly. Lend them your assistance by selecting the best answer below. (4 marks) Select one: a 8.97344% b. 897234% c. 8.97415% d 897541% e. 9.56721%
To determine the annual nominal rate of interest compounded weekly that is equivalent to 9% per annum compounded monthly, we need to use the formula for converting between different compounding periods. The correct answer is option a
The formula is:[tex]A=P×(1+r/n)^(nt)[/tex]
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the number of years
In this case, we want to find the equivalent interest rate compounded weekly (n = 52) to 9% per annum compounded monthly (n = 12). Let's assume that the principal investment amount (P) is $1.
For 9% per annum compounded monthly:
A = 1 \times \left(1 + \frac{0.09}{12}\right)^{12 \times 1} = 1.090^12 = 1.262476
Now, let's find the equivalent interest rate compounded weekly:
1.262476 = 1 \times \left(1 + \frac{r}{52}\right)^{52 \times 1}
1.262476 = \left(1 + \frac{r}{52}\right)^{52}
\sqrt[52]{1.262476} = 1 + \frac{r}{52}
\frac{r}{52} = \sqrt[52]{1.262476} - 1
r = 52 \times (\sqrt[52]{1.262476} - 1)
Calculating this expression, we find that r ≈ 0.0897314 or approximately 8.97314%. Therefore, the correct answer is option a) 8.97344%.
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At a Noodles & Company restaurant, the probability that a customer will order a nonalcoholic beverage is 34. a. Find the probability that in a sample of 9 customers, none of the 9 will order a nonalcoholic beverage. (Round your answer to 4 decimal places.) b. Find the probability that in a sample of 9 customers, at least 6 will order a nonalcoholic beverage. (Round your answer to 4 decima places.) c. Find the probability that in a sample of 9 customers, fewer than 7 will order a nonalcoholic beverage. (Round your answer to 4 decimal places.) d. Find the probability that in a sample of 9 customers, all 9 will order a nonalcoholic beverage, (Round your answer to 4 decimal places.)
The probability that all 9 customers will order a nonalcoholic beverage is approximately 0.0003.
To solve these probability problems, we will use the binomial probability formula:
P(X = k) = C(n, k) * p^k * (1 - p)^(n - k)
where:
P(X = k) is the probability of getting exactly k successes,
n is the sample size,
k is the number of successes,
p is the probability of success,
C(n, k) is the number of combinations of n items taken k at a time.
The probability of a customer ordering a nonalcoholic beverage is p = 0.34.
a. Find the probability that in a sample of 9 customers, none of the 9 will order a nonalcoholic beverage.
Here, k = 0 (no successes) and n = 9.
P(X = 0) = C(9, 0) * 0.34^0 * (1 - 0.34)^(9 - 0)
C(9, 0) = 1 (since there is only one way to choose 0 out of 9)
P(X = 0) = 1 * 1 * 0.66^9 ≈ 0.0817 (rounded to 4 decimal places)
Therefore, the probability that none of the 9 customers will order a nonalcoholic beverage is approximately 0.0817.
b. Find the probability that in a sample of 9 customers, at least 6 will order a nonalcoholic beverage.
We need to find the probability of getting 6, 7, 8, or 9 successes.
P(X ≥ 6) = P(X = 6) + P(X = 7) + P(X = 8) + P(X = 9)
Using the binomial probability formula, we can calculate each term separately and sum them up.
P(X = 6) = C(9, 6) * 0.34^6 * (1 - 0.34)^(9 - 6)
P(X = 7) = C(9, 7) * 0.34^7 * (1 - 0.34)^(9 - 7)
P(X = 8) = C(9, 8) * 0.34^8 * (1 - 0.34)^(9 - 8)
P(X = 9) = C(9, 9) * 0.34^9 * (1 - 0.34)^(9 - 9)
Calculating each term and summing them up, we get:
P(X ≥ 6) ≈ 0.1956 (rounded to 4 decimal places)
Therefore, the probability that at least 6 out of 9 customers will order a nonalcoholic beverage is approximately 0.1956.
c. Find the probability that in a sample of 9 customers, fewer than 7 will order a nonalcoholic beverage.
We need to find the probability of getting 0, 1, 2, 3, 4, 5, or 6 successes.
P(X < 7) = P(X = 0) + P(X = 1) + P(X = 2) + P(X = 3) + P(X = 4) + P(X = 5) + P(X = 6)
Using the binomial probability formula, we can calculate each term separately and sum them up.
Calculating each term and summing them up, we get:
P(X < 7) ≈ 0.9440 (rounded to 4 decimal places)
Therefore, the probability that fewer than 7 out of 9 customers will order a nonalcoholic beverage is approximately 0.9440.
d. Find the probability that in a sample of 9 customers, all 9 will order a nonalcoholic beverage.
Here, k = 9 (all successes) and n = 9.
P(X = 9) = C(9, 9) * 0.34^9 * (1 - 0.34)^(9 - 9)
C(9, 9) = 1 (since there is only one way to choose 9 out of 9)
P(X = 9) = 1 * 0.34^9 * 1 ≈ 0.0003 (rounded to 4 decimal places)
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A company is evaluating the purchase of a machine to improve product quality and output levels. The new machine would cost $811,000 and would be depreciated for tax purposes using the straight-line method over an estimated six-year life to its expected salvage value of $50,000. The new machine would require an addition of $45,000 to working capital at the beginning of the project, which will of course be returned to the firm at the end of the project. The machine would increase the company's annual pre-tax cash receipts by $247,000 from their current level. Cash operating costs pertaining to the machine will be $17,000 per year. In addition, at the end of the 4th year, a major repair of the machine costing $30,000 (pre-tax) would be required. The company has an overall cost of capital of 11%, and is in the 35% marginal tax bracket. Required: A. Prepare a cash flow spreadsheet that identifies and summarizes the incremental cash flows for each year of the machine's life. B. Calculate the machine's net present value. C. Calculate the machine's internal rate of return. D. Based on your analysis, should the firm purchase the machine?
A. Cash Flow Spreadsheet:
Year Cash Inflows Cash Outflows Net Cash Flow
0 $0 $856,000 ($856,000)
1 $247,000 $17,000 $230,000
2 $247,000 $17,000 $230,000
3 $247,000 $17,000 $230,000
4 $247,000 $47,000 $200,000
5 $247,000 $17,000 $230,000
6 $247,000 $67,000 $180,000
B. Net Present Value (NPV) Calculation:
NPV = Sum of [(Net Cash Flow / (1 + Cost of Capital))^Year]
- Initial Investment
NPV = ($230,000 / 1.11)^1 + ($230,000 / 1.11)^2 + ($230,000 / 1.11)^3
+ ($200,000 / 1.11)^4 + ($230,000 / 1.11)^5 + ($180,000 / 1.11)^6
- $856,000
NPV ≈ $25,966.21 - $856,000
NPV ≈ ($830,033.79)
C. Internal Rate of Return (IRR) Calculation:
IRR is the rate that makes the NPV zero. Using trial and error or a financial calculator, the IRR is approximately 5.71%.
D. Decision:
Based on the analysis, the machine's net present value (NPV) is negative, indicating that the project is not expected to generate a positive return. Additionally, the internal rate of return (IRR) of approximately 5.71% is lower than the company's cost of capital of 11%.
Therefore, considering the negative NPV and the lower IRR, it is not recommended for the firm to purchase the machine. The projected cash flows do not justify the investment, as it would result in a loss and fail to meet the company's required return.
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Under which of the type of liability may a party be held responsible for damage even though it was not actively involved in the incident? Select one: a. Associative b. Cyber c. Mutual d. Vicarious Clear mv choice Advantage of Technology in the workplace has Select one: a. improved functional capability. b. increased worker productivity. c. all of these are the advantages of technological change. d. increased the ease of use and ease of access. Clear my choice Say, a workers agrees to be electronically monitored by the employer in a situation where jobs are very hard to come by. Such a consent is called Select one: a. strong consent. b. thin consent. c. fat consent. d. thick consent. Outbound sales agents are Select one: a. Employees who phone customers at home with the aim of selling the company's services. b. Employees who visit customers at their home with the aim of selling the company's services. c. Employees who phone other company employees at work to explain and offer their company's services. d. Employees who visit large corporations with the goal of selling the company's services. The textbook mentions 10 commandments of Computer Ethics. Which of the followings is NOT one of them? Select one: a. Thous shalt not use other people's computer resources without authorization. b. Thous shalt think about the social consequences of of the program you are writing or system you are designing. c. Honor thy father and thy mother. d. Thou shalt not interfere other people's computer work. The place in internet where only workers can access certain information of the organization is called Select one: a. ultranet. b. intranet. c. internet. d. company-net. According to the textbook, employee view of monitoring practices by employers is an infringement of Select one: a. company rights. b. flexibility rights. c. employee rights. d. civil rights. The downside of the plethora of information technology is Select one: a. ease of use. b. ease of access. c. chance of someone tapping into the network containing private information. d. information in digital format on a network. Select one: a. does let workers log in to company's network remotely. b. does let workers work from home or anywhere. c. has blurred the concept of 'at work'. d. all of these are true answers. If employees wrongly use internet and employers are held liable for their actions, it is called Select one: a. criminal liability. b. cyberliability. c. vicarious liability. d. civil liability. All of the following are invasive tools used to monitor employees at the workplace, except: Select one: a. GPS micro-chips b. keystroke loggers c. video surveillance d. "smart" ID cards Which of the following is NOT one of the employee surveillance method used by supervisors? Select one: a. 'listen-in' to conversations. b. phone monitoring. c. smart ID card. d. all of these are methods of employee surveillance.
Vicarious liability is the type of liability under which a party may be held responsible for damage even though it was not actively involved in the incident. Outbound sales agents are employees who phone customers at home with the aim of selling the company's services.
Vicarious liability is often imposed in cases where there is a special relationship between the party being held responsible (known as the "vicar") and the party who caused the damage. The vicarious liability may apply to situations where the party being held responsible is an employer and the person who caused the damage is an employee. The advantages of technological change in the workplace are that it has improved functional capability, increased worker productivity, and increased ease of use and ease of access.
When a worker agrees to be electronically monitored by the employer in a situation where jobs are very hard to come by, such consent is called thin consent. Outbound sales agents are employees who phone customers at home with the aim of selling the company's services. Honoring thy father and thy mother is NOT one of the 10 commandments of Computer Ethics.
The place on the internet where only workers can access certain information about the organization is called an intranet. The employee view of monitoring practices by employers is an infringement of employee rights. The downside of the plethora of information technology is the chance of someone tapping into the network containing private information.
Yes, information technology lets workers log in to a company's network remotely, lets workers work from home or anywhere, and has blurred the concept of 'at work'. When employees wrongly use the internet and employers are held liable for their actions, it is called vicarious liability. The invasive tools used to monitor employees at the workplace are GPS microchips, keystroke loggers, and video surveillance. The 'listen-in' to conversations is NOT one of the employee surveillance methods used by supervisors.
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The two globalizations periods are: . 1850-1913 1950-present True False
True The two globalization periods are generally recognized as 1850-1913 and 1950-present.
The first period, from 1850 to 1913, marked a significant increase in global economic integration, driven by advancements in transportation, communication, and trade. This era saw the expansion of colonial empires, the rise of industrialization, and the establishment of international financial systems. The second period, from 1950 to the present, is characterized by a resurgence of globalization after a decline during the interwar period and World War II. This phase has been defined by the rapid growth of multinational corporations, advancements in technology, liberalization of trade and investment, and the emergence of global supply chains. It has been accompanied by both opportunities and challenges, including increased economic interdependence, cultural exchange, and concerns over income inequality, environmental impact, and geopolitical tensions.
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Brett Timon Enterprises had the following accounts and normal balances listed on its December 31st adjusted trial balance: Service Revenue, $24,900; Salaries Expense, $6,000; Rent Expense, $3,700, Advertising Expense, $2,000, and Timon, Withdrawals, $10,700. Journalize the closing entries for Timon Enterprises. (Record debits first, then credits. Select the explanation on the last line of the journal entry table)
These closing entries will update the capital account with the net income or loss for the period and close the temporary accounts, preparing the accounts for the next accounting period.
To journalize the closing entries for Timon Enterprises, we need to transfer the balances of the temporary accounts (revenue, expense, and withdrawal accounts) to the permanent capital account. The closing entries will reset the temporary accounts to zero and allow for the calculation of net income for the period.
The closing entries for Timon Enterprises are as follows:
1. Close Service Revenue:
Debit: Service Revenue
Credit: Timon, Capital
2. Close Salaries Expense:
Debit: Timon, Capital
Credit: Salaries Expense
3. Close Rent Expense:
Debit: Timon, Capital
Credit: Rent Expense
4. Close Advertising Expense:
Debit: Timon, Capital
Credit: Advertising Expense
5. Close Timon, Withdrawals:
Debit: Timon, Capital
Credit: Timon, Withdrawals
The explanations for the last line of each journal entry can be:
- Close Service Revenue to transfer the revenue to the capital account.
- Close Salaries Expense to transfer the expense to the capital account.
- Close Rent Expense to transfer the expense to the capital account.
- Close Advertising Expense to transfer the expense to the capital account.
- Close Timon, Withdrawals to transfer the withdrawals to the capital account.
These closing entries will update the capital account with the net income or loss for the period and close the temporary accounts, preparing the accounts for the next accounting period.
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Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 11% compounded monthly: 11.25% compounded annually ____________%.
Annual yield of 11.79% is higher than the second investment with an effective annual yield of 11.25%. Thus, the first investment is the better investment in terms of the effective annual yield.
To determine the effective annual yield for each investment, we need to calculate the Effective Annual Rate (EAR) for each given interest rate.
For the first investment:
Interest rate = 11%
Compounding frequency = Monthly
To calculate the EAR, we use the formula:
EAR = (1 + (Nominal interest rate / Number of compounding periods))^Number of compounding periods - 1
Number of compounding periods per year for monthly compounding = 12
Nominal interest rate per compounding period = Nominal interest rate / Number of compounding periods
Nominal interest rate per compounding period = 11% / 12 = 0.9167%
EAR for the first investment = (1 + (0.9167% / 100))^12 - 1
EAR for the first investment = (1.009167)^12 - 1
EAR for the first investment = 0.1179 or 11.79%
For the second investment:
Interest rate = 11.25%
Compounding frequency = Annually
Since the interest rate is already compounded annually, the nominal interest rate is equal to the stated interest rate.
EAR for the second investment = (1 + (11.25% / 100))^1 - 1
EAR for the second investment = (1.1125)^1 - 1
EAR for the second investment = 0.1125 or 11.25%
Therefore, the effective annual yield for the first investment is 11.79% and for the second investment is 11.25%.
To determine the better investment, we compare the effective annual yields. In this case, the first investment with an effective annual yield of 11.79% is higher than the second investment with an effective annual yield of 11.25%. Thus, the first investment is the better investment in terms of the effective annual yield.
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Variable Costing Marsich Company has the following information for September: Sales $490,000 Variable cost of goods sold 230,300 Fixed manufacturing costs 78,400 Variable selling and administrative expenses 49,000 Fixed selling and administrative expenses 29,400 Determine the following for Marsich Company for the month of September: a. Manufacturing margin b. Contribution margin c. Operating income
The total price margins are as follows:
a. Manufacturing margin: $161,300
b. Contribution margin: $210,700
c. Operating income: $151,300
The manufacturing margin is calculated by subtracting the variable cost of goods sold from sales. In this case, $490,000 - $230,300 = $259,700. However, this only represents the portion of sales that covers variable costs directly related to production.
The contribution margin takes into account both variable cost of goods sold and variable selling and administrative expenses. By subtracting the total variable expenses from sales, we get $490,000 - $230,300 - $49,000 = $210,700. This represents the amount available to cover fixed costs and contribute to operating income.
Finally, the operating income is determined by subtracting both fixed manufacturing costs and fixed selling and administrative expenses from the contribution margin. $210,700 - $78,400 - $29,400 = $151,300. Operating income is the final result after accounting for all costs, both variable and fixed.
In summary, the manufacturing margin represents the portion of sales that covers variable costs directly related to production. The contribution margin includes both variable costs of goods sold and variable selling and administrative expenses, and it represents the amount available to cover fixed costs and contribute to operating income. Operating income is the final result after subtracting both fixed manufacturing costs and fixed selling and administrative expenses from the contribution margin.
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In an effort to make JIT implementation efficient and successful, Speedy Johnson Company developed an easy-to-use JIT production manual. This effort is viewed as Speedy Johnson's lean principle. This statement is:___________ True O False
The statement is false. Developing an easy-to-use JIT production manual is not considered Speedy Johnson's lean principle.
Speedy Johnson Company's lean principle is focused on implementing just-in-time (JIT) production efficiently and successfully. JIT is a manufacturing strategy aimed at producing goods or delivering services at the exact time they are needed, eliminating waste and reducing inventory levels. While developing an easy-to-use JIT production manual may be a step taken by the company to support their JIT implementation, it is not the lean principle itself.
The lean principle encompasses a broader set of concepts and practices, including continuous improvement, waste reduction, value stream mapping, and employee involvement. These principles aim to streamline processes, eliminate non-value-added activities, and enhance overall efficiency. Developing an easy-to-use manual can be a supportive measure in implementing JIT, but it does not encompass the entire lean principle.
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On January 1,2020, Indigo Company purchased $470,000,10% bonds of Aguirre Co. for $435,405. The bands were purchased to yield 12% interest. Interest is payable semiannually on July 1 and January 1 . The bonds mature on January 1 , 2025. Indigo Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Indigo Company sold the bonds for $436,876 after receiving interest to meet its liquidity needs. repare the amortization schedule for the bonds. (Round answers to 0 decimal places, eg. 1,250.)
The carrying value of $475,195.25 minus the amortization of $519.53 equals $474,675.72. This is the carrying value at the end of the first period.
In order to prepare the amortization schedule, the following steps should be done: Calculate the cash interest received for the period. Compute the premium amortization for the period. Calculate the carrying value at the end of the period. The table of the amortization schedule is as follows: Amortization Schedule Bonds Purchased Value $ 435,405.00 Interest Rate 12% Maturity $ 470,000.00 Jan-20 Jul-20 Cash Interest $ 23,500.00 Premium Amortization $ 5,195.25 Carrying Value $ 441,700.75 Jan-21 Jul-21 Cash Interest $ 23,500.00 Premium Amortization $ 4,963.27 Carrying Value $ 448,157.48 Jan-22 Jul-22 Cash Interest $ 23,500.00 Premium Amortization $ 4,931.17 Carrying Value $ 454,726.31 Bond Sold $ 436,876.00 The carrying value of the bonds is the face value of $470,000 plus the premium of $5,195.25 for the first period. This resulted in a carrying value of $475,195.25. The carrying value is then amortized by the premium of $5,195.25 divided by the number of periods (10). The amortization for the first period is $5,195.25/10 or $519.53.The carrying value of $475,195.25 minus the amortization of $519.53 equals $474,675.72. This is the carrying value at the end of the first period.
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for effective change management what are the best
media to use for each communication and each
shareholder? ( useful tips not all stakeholders should
have the same messaging)
For effective change management following are the best media to use for each communication and each shareholder.
1. Identify stakeholders,
2. Choose appropriate communication media,
3. Tailor messaging for each stakeholder,
4. Follow up.
For effective change management, different communication media can be used for different stakeholders.
Here are some useful tips:
1. Identify stakeholders: It is important to identify the stakeholders who will be impacted by the change and determine their level of influence and interest. This will help in crafting specific messages for each stakeholder.
2. Choose appropriate communication media: Different stakeholders have different communication preferences. Choose communication media that are appropriate for each stakeholder. Some media options are as follows:
Face-to-face communication: This is the most effective communication medium, especially for stakeholders who have a high level of influence and interest in the change. One-on-one meetings, town hall meetings, and group discussions are some of the face-to-face communication options.
Email: This medium is effective for stakeholders who are comfortable with written communication. It allows stakeholders to access information at their convenience. However, it is important to keep the message concise and to the point.
Video: Videos can be used to communicate complex messages in an engaging and interesting way. They can be used for stakeholders who are visual learners or for those who prefer to watch rather than read.
Letters: Letters can be used for stakeholders who are not comfortable with technology or for those who require a paper trail for documentation.
3. Tailor messaging for each stakeholder: The messaging should be tailored for each stakeholder. The messaging should be clear, concise, and relevant to the stakeholder.
4. Follow up: Follow up with stakeholders to ensure that they have received the message and to address any questions or concerns they may have. This will help to ensure that the change is effectively communicated and implemented.
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(i) In the long run, if the Fed increases the growth rate of the money supply, a. inflation will be higher. b.unemployment will be lower.
c. real GDP will be higher.
d. All of the above are correct.
(i) In the long run, if the Fed increases the growth rate of the money supply, **option a. inflation will be higher** is the correct answer.
This is based on the quantity theory of money, which suggests that an increase in the money supply leads to a proportional increase in the price level. In other words, when the money supply grows faster than the production of goods and services in the economy, there is excess money chasing the same amount of goods, resulting in inflation. While changes in the money supply can have short-term effects on variables like unemployment and real GDP, in the long run, the primary impact is on the price level, leading to higher inflation. Therefore, options b and c are not necessarily correct in the long run.
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Which of the following can explain a decrease in the U.S. real exchange rate? Oa. the U.S. government budget deficit falls Ob. the U.S. impose import quotas Oc. the default risk of U.S. assets falls. Od. All of the above are correct.
The correct option is (C) the default risk of U.S. assets falls. Explanation:Real exchange rate (RER) is the nominal exchange rate adjusted for the relative prices of domestic and foreign goods.
R E R = e (Pf/Pd), where e is the nominal exchange rate and Pf/Pd is the ratio of foreign to domestic prices.In other words, R E R is the relative price of domestic goods in terms of foreign goods. A decrease in the real exchange rate implies that domestic goods become relatively cheaper compared to foreign goods.
It can be caused by one or more of the following factors:1. A decrease in the nominal exchange rate2. A decrease in the domestic price level3. An increase in the foreign price level4. An increase in productivity in the domestic economy5. A decrease in productivity in the foreign economy6.
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Bonds are heavily covered in this chapter, but one aspect we don't really address is the "bond market." Most of you are familiar with the "stock market," but have little knowledge on the buying and selling of bonds. Do a little research and present to your fellow classmates at least three aspects of the bond market. I am not looking for anything in particular, just anything you come across that you feel the class could learn from regarding the buying and selling of bonds as an investment.
The bond market is where investors purchase and sell debt securities such as treasury bonds, corporate bonds, and municipal bonds.
In this market, investors trade bonds, which are long-term debt securities that are issued by entities to borrow funds. Three key aspects of the bond market are trading methods, the influence of interest rates on bond prices, and bond ratings.Bond Trading Methods:In the bond market, there are two ways to trade bonds: over-the-counter (OTC) and exchange-traded. OTC trading is done via the telephone or the internet. The bond market operates around the world in various time zones, and there are no fixed locations. The exchange-traded bond market is similar to the stock market, in which bonds are listed on an exchange, such as the New York Stock Exchange. The trading of bonds on an exchange is done via brokers and stock traders.Interest Rates:
Interest rates have a significant impact on bond prices. When interest rates rise, bond prices fall, and when interest rates fall, bond prices rise. Investors will be more willing to pay a higher price for bonds when interest rates are low because it will be less costly for the issuer to repay the debt. When interest rates rise, however, this causes the opposite to occur, as investors will be less likely to pay a higher price for the bond because it will cost the issuer more to repay the debt.Bond Ratings:Bond ratings are issued by credit rating agencies such as Moody's, S&P, and Fitch to rate the creditworthiness of a bond issuer. The rating indicates the issuer's ability to meet its financial obligations and the likelihood of default. The higher the rating, the less risk the bond has. When purchasing bonds, it's crucial to consider the bond rating.
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Tabular Co purchased a vehicle on 1 July 20X2 for $22,000. Tabular Co's policy is to depreciate vehicles on a straight line basis over 4 years, with proportionate charges in partial years of ownership. On 1 October 20X4, Tabular Co sold the vehicle, making a profit on sale of $1,375. What amount should be included as a cash inflow from investing activities in relation to the vehicle for the year ended 31 December 20X4?
a. $11,000
b. $6,875
c. $1,375
d. $23,375
$23,375 amount should be included as a cash inflow from investing activities in relation to the vehicle for the year ended 31 December 20X4
To determine the cash inflow from investing activities related to the vehicle for the year ended 31 December 20X4, we need to consider the cash received from the sale of the vehicle.
Given that Tabular Co sold the vehicle on 1 October 20X4, the cash inflow from investing activities would be the sale proceeds received on that date.
Since the profit on the sale is given as $1,375, it means that the sale proceeds (cash inflow) would be the original cost of the vehicle ($22,000) plus the profit on sale ($1,375), which is a total of $23,375.
Therefore, the correct answer is option d. $23,375.
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Samsung Material Resource Planning (MRP) (with a list of key suppliers with their websites, etc. connect plan to company mission and vision (cite).
Samsung's Material Resource Planning (MRP) is a strategic approach to managing the company's key suppliers and resources in alignment with its mission and vision. By effectively planning and coordinating the procurement and utilization of materials, Samsung ensures a smooth supply chain operation and supports its overarching goals. The MRP system enables Samsung to optimize its supplier relationships and enhance operational efficiency, contributing to the company's mission of delivering innovative and reliable products and its vision of becoming a global leader in technology and digital solutions.
Samsung's Material Resource Planning (MRP) plays a critical role in realizing the company's mission and vision. As a global technology company, Samsung aims to provide innovative products and services that enhance people's lives. By implementing an MRP system, Samsung can effectively manage its material resources, including key suppliers, to ensure a seamless production process and deliver high-quality products to its customers.
The MRP system helps Samsung align its procurement activities with its mission and vision by optimizing the supply chain. By identifying and collaborating with key suppliers who share Samsung's commitment to quality and innovation, the company can ensure a steady and reliable supply of materials. This strategic approach not only enhances operational efficiency but also supports Samsung's mission to deliver innovative and reliable products to its customers.
Moreover, by effectively managing its material resources, Samsung can contribute to its vision of becoming a global leader in technology and digital solutions. A well-executed MRP system enables Samsung to streamline its production processes, reduce costs, and enhance customer satisfaction. By consistently delivering high-quality products in a timely manner, Samsung can strengthen its position in the market and achieve its vision of being at the forefront of technological advancements.
In conclusion, Samsung's Material Resource Planning (MRP) system plays a vital role in connecting the company's mission and vision. By efficiently managing key suppliers and material resources, Samsung can deliver innovative and reliable products that align with its mission of enhancing people's lives. The MRP system supports operational efficiency, cost optimization, and customer satisfaction, ultimately contributing to Samsung's vision of becoming a global technology leader.
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A product with an annual demand of 1,000 units has C = $ 26.50 and C₁ = $ 7 . The demand exhibits some variability such that the lead - time demand follows a normal probability distribution with μ = 25 and a = 5 . ( a ) What is the recommended order quantity ? ( Round your answer to the nearest integer . ) ( b ) What are the reorder point and safety stock if the firm desires at most a 5 % probability of stock - out on any given order cycle ? ( You may need to use the appropriate appendix table or technology to answer this question . Round your answers to the nearest integer . ) reorder point safety stock ( c ) If a manager sets the reorder point at 30 , what is the probability of a stock - out on any given order cycle ? ( Round your answer to four decimal places . ) How many times would you expect a stock - out during the year if this reorder point were used ? ( Round your answer to the nearest integer . )
(a) To calculate the recommended order quantity, we can use the economic order quantity (EOQ) formula:
EOQ = √((2 * C * D) / C₁)
where C is the cost per order, D is the annual demand, and C₁ is the carrying cost per unit.
Plugging in the given values:
C = $26.50
D = 1,000 units
C₁ = $7
EOQ = √((2 * 26.50 * 1,000) / 7)
= √(53,000 / 7)
= √7,571.43
≈ 87.04
Therefore, the recommended order quantity is approximately 87 units (rounded to the nearest integer).
(b) To determine the reorder point and safety stock, we need to consider the desired probability of stock-out. Let's assume the desired probability of stock-out is 5% (0.05).
The reorder point can be calculated as:
Reorder Point = (μ * Lead Time) + (Z * σ * √Lead Time)
where μ is the mean lead-time demand, Z is the Z-score corresponding to the desired probability, σ is the standard deviation of lead-time demand, and Lead Time is the time between placing an order and receiving it.
μ = 25
a = 5
Z = Z-score for 5% probability (from the normal distribution table) ≈ -1.645
Reorder Point = (25 * 1) + (-1.645 * 5)
= 25 - 8.225
≈ 16.775
≈ 17 (rounded to the nearest integer)
The safety stock can be calculated as:
Safety Stock = Z * σ * √Lead Time
Safety Stock = -1.645 * 5
≈ -8.225
≈ 9 (rounded to the nearest integer)
Therefore, the reorder point is approximately 17 units, and the safety stock is approximately 9 units.
(c) If the reorder point is set at 30 units, we need to determine the probability of stock-out on any given order cycle. We can use the Z-score formula:
Z = (Reorder Point - μ) / (σ * √Lead Time)
Plugging in the given values:
Reorder Point = 30
μ = 25
a = 5
Z = (30 - 25) / (5 * √1)
= 5 / 5
= 1
Using the Z-table, the probability corresponding to a Z-score of 1 is approximately 0.8413.
Therefore, the probability of a stock-out on any given order cycle is approximately 0.8413 (rounded to four decimal places).
To determine how many times we would expect a stock-out during the year, we need to calculate the number of order cycles in a year. Let's assume the lead time is 1 week.
Number of order cycles = (Number of weeks in a year) / (Lead Time)
= 52 weeks / 1 week
= 52
Expected stock-outs per year = Probability of stock-out * Number of order cycles
= 0.8413 * 52
≈ 43.71
≈ 44 (rounded to the nearest integer)
Therefore, if the reorder point is set at 30 units, we would expect approximately 44 stock-outs during the year.
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Boban, Corp., is looking at setting up a new manufacturing plant in Dallas to produce basketballs. The company bought some land six years ago for $6.1 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities (the warehouse and distribution site) from a competitor instead. If the land were sold today, the company would net $4.9 million. The company wants to build its new manufacturing plant on this land; the plant will cost $8.2 million to build, and the site requires $900,000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial Investment in fixed assets when evaluating this project?
The proper cash flow amount to use as the initial investment in fixed assets when evaluating the project is $8.2 million. This amount represents the cost of building the new manufacturing plant and does not include the land cost or the cost of grading.
When evaluating the initial investment in fixed assets for a project, it is important to consider the costs directly related to the project itself. In this case, the company wants to build a new manufacturing plant on land that it already owns.The cost of the land is not included in the initial investment because it was purchased six years ago for a different purpose (warehouse and distribution site). Additionally, the decision to rent the facilities instead of using the land does not impact the cost of the new manufacturing plant. Therefore, the land cost is not relevant to the initial investment in fixed assets for this project.
Similarly, the cost of grading the land is not included in the initial investment because it is a one-time cost incurred to prepare the site for construction. Once the grading is complete, it becomes part of the land and does not affect the cost of the manufacturing plant itself.
Thus, the proper cash flow amount to use as the initial investment in fixed assets is $8.2 million, which represents the cost of building the new manufacturing plant.
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The recommended procedure for handling billing inquiries is to ____.
The recommended procedure for handling billing inquiries is to listen to the customer's complaint, then acknowledge the complaint, investigate, provide a solution or explanation and close the call.
The process should be handled with the utmost professionalism to ensure customer satisfaction.
What are billing inquiries?
Billing inquiries are requests for clarification or investigation of a customer's billing statement. A customer may call a company to inquire about their bill if they believe they were overcharged or if they have questions about their bill. Additionally, billing inquiries may occur if the customer's bill does not reflect the products or services they have received from the company.
The procedure for handling billing inquiries is critical to ensuring customer satisfaction. Customers who have concerns regarding their bill expect professional and prompt resolution of their issues. Companies should have well-defined procedures for handling billing inquiries to ensure that customers are satisfied with the outcome.In most cases, the recommended procedure for handling billing inquiries is to listen to the customer's complaint, then acknowledge the complaint, investigate, provide a solution or explanation and close the call. The process should be handled with the utmost professionalism to ensure customer satisfaction.
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