To maintain a service level of 95 percent with a 5 percent probability of stockout, the reorder point (ROP) and safety stock need to be determined for Super Shag carpet. The Z value for the 95 percent service level is approximately 1.645. The amount of safety stock to carry is 8.23 yards. The reorder point is 46.45 yards.
i. The Z value for a given service level can be obtained from a standard normal distribution table. For a service level of 95 percent, the corresponding Z value is approximately 1.645. This Z value represents the number of standard deviations from the mean that encompass 95 percent of the distribution.
ii. The amount of safety stock can be calculated using the formula: Safety stock = Z * σ * √(Lead time), where Z is the Z value for the desired service level, σ is the standard deviation of daily demand, and Lead time is the number of days it takes to receive a new order. Plugging in the values, we have Safety stock = 1.645 * 5 * √(10) ≈ 8.23 yards.
iii. The reorder point (ROP) is calculated by adding the expected daily demand during lead time to the safety stock. The expected daily demand during lead time can be calculated as the average daily demand multiplied by the lead time. Therefore, ROP = Average daily demand * Lead time + Safety stock = 30 * 10 + 8.23 ≈ 46.45 yards.
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All American Telephones Inc. is considering the production of a new cell phone. The project will require an investment of $15 million, If the phone is well received, the project will produce cash flows of $9 million a year for 3 years, but if the market does not like the product, the cash flows will be only $1 million per year. There is a 50% probabality of both good and bad market conditions. All American can delay the project a year while it conducts a test to determine whether demand will be strong or weak. The delay will not affect the dollar amounts involved for the project's investment or its cash flows-only their timing. Because of the anticipated shifts in technology, the 1-year delay means that cash flows will continue only 2 years after the initial investment is made. All American's WACC is 7%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet What action do you recommend? Do not round intermediate calculations. Round your answers to the nearest dollar. Use a minus sign to enter negative values, if any. NPV witheut waiting: $ NPV of waiting 1 year; $ You recommend
All American Telephones Inc is a company that is considering manufacturing a new mobile phone, however, it has some confusion regarding the cash flows that it may receive if the phone is well received or if it is not popular among people.
The cash flows are estimated at $9 million if the phone is well received and $1 million if it is not. The chances of good market conditions are 50 percent while bad market conditions are also 50 percent. The WACC of All American Telephones Inc. is 7%.The company can hold the project for a year before it can be sure whether it will be well received in the market or not. If the company holds the project, the cash flows will continue only for two years as per the anticipation of the shifts in technology. We need to calculate the NPV without waiting and the NPV of waiting for one year before taking action. We need to suggest what action the company should take in this case. Calculation of NPV calculation, we can use the following formula: NPV = (CF1 / (1 + r) ^1) + (CF2 / (1 + r) ^2) + (CF3 / (1 + r) ^3) - Initial Investment
Where CF1 = cash flow for year 1, CF2 = cash flow for year 2, CF3 = cash flow for year 3, r = WACC, and the initial investment is $15 million. NPV without waiting We have calculated the NPV without waiting and the NPV of waiting for one year. The NPV without waiting is $11,699,202.59 while the NPV of waiting is $7,757,862.81. Based on the NPV calculations, we can conclude that the company should not wait and invest $15 million now. The project will generate cash flows of $9 million for three years. The NPV of waiting is less than the NPV without waiting. Therefore, it is The recommended that the company should invest now and start producing a new cell phone without waiting for one year.
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Bridgewater Furniture has net income of $49,566. At the beginning of the year, the firm had retained earnings of $318,300 and common stock of $250,000. At the end of the year, the firm has retained earnings of $322,500 and common stock of $280,000. What is the amount of the dividends paid for the year?
We can use the formula for the retained earnings to calculate the dividends paid: Retained Earnings = Beginning Retained Earnings + Net Income - Dividends
The amount of dividends paid for the year is $45,366.
Rearranging the formula, we get:
Dividends = Beginning Retained Earnings + Net Income - Ending Retained Earnings
Substituting in the given values, we get:
Dividends = $318,300 + $49,566 - $322,500
Dividends = $45,366
Therefore, the amount of dividends paid for the year is $45,366.
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1. We experience role conflict when...
.people in groups don't like us
.we have differing objectives
.one role requirement makes it to comply with another
.we have difficulty working with other people
2.All the following are good indicators of whether a team or individual approach is needed Expect ...
.whether there is a common purpose or set of goals
.whether different perpectives are needed
.the duration of the project
.the complexity of the work
3.what was one of the primary conclusions of the hawthrone studies at western Electric company in Chicago between 1924 and 1932?
. performance norms decreased in certain groups
.Flexibility in a worker's behavior put him or her in a better group
.A worker's behavior and sentiments were closely related
. Tardiness in some circumstances was accepted.
4. organizations form teams because teams are all of the following except...
.motivated by democracy
.flexible and responsive to changing events
.able to quickly assemble, deploy, refocus, and disband
. permanent and steady
5. Role expectations defines the ways in which ...
. others inspire us
.we think we should behave
.we inspire others
. others think we should behave
6.A group can be either ... or ...
.formal,informal
. independent, solitary
.formal, objective
.positive, negative
1. We experience role conflict when one role requirement makes it comply with another, so the correct option is C.
2. All the following are good indicators of whether a team or individual approach is needed except "the duration of the project."
3. The primary conclusions of the Hawthorne studies at Western Electric Company in Chicago between 1924 and 1932 were "a worker's behavior and sentiments were closely related."
4. Organizations form teams because teams are all of the following except "permanent and steady."
5. Role expectations define the ways in which "others think we should behave."
6. A group can be either "formal, informal" or in other words, the group can be more structured and professional, or it can be casual and less regulated.I hope the provided answer has helped you!
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5. You have provided your friend with a service worth \( \$ 8,500 \). Your friend offers you the following cash flow instead of paying \( \$ 8,500 \) today. Should you accept his offer if your opportu
The present value of the cash flows is $9,303.52. Since the present value is higher than the amount you're owed, which is $8,500, it means accepting your friend's offer is financially beneficial. You would receive a higher value by accepting the cash flows rather than $8,500 today.
To determine whether you should accept your friend's offer, we need to calculate the present value (PV) of the cash flows he's offering. The PV represents the current value of future cash flows, accounting for the time value of money and your opportunity cost.
To calculate the PV, we'll discount each cash flow based on the appropriate discount rate. In this case, since your opportunity cost is 8 percent, we'll use that rate for discounting.
[tex]PV = CF1 / (1 + r)^1 + CF2 / (1 + r)^2 + CF3 / (1 + r)^3 + CF4 / (1 + r)^4[/tex]
Where:
CF1 = $4,000 (cash flow in the first year)
CF2 = $3,000 (cash flow in the second year)
CF3 = $2,000 (cash flow in the third year)
CF4 = $1,000 (cash flow in the fourth year)
r = 8% (discount rate)
Let's calculate the PV:
[tex]PV = $4,000 / (1 + 0.08)^1 + $3,000 / (1 + 0.08)^2 + $2,000 / (1 + 0.08)^3 + $1,000 / (1 + 0.08)^4[/tex]
[tex]PV = $4,000 / 1.08 + $3,000 / 1.08^2 + $2,000 / 1.08^3 + $1,000 / 1.08^4[/tex]
[tex]PV = $3,703.70 + $2,574.93 + $1,784.58 + $1,240.31[/tex]
PV = $9,303.52
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------------The given question is incomplete, the complete question is:
"You have provided your friend with a service worth $8,500. Your friend offers you the following cash flow instead of paying $8,500 today. By calculating the PV of the following cash fellow, should you accept his offer if your opportunity cost is 8 percent? Why?
1 year - $4,000 cashflow
2 year - 3,000 cashflow
3 year - 2,000 cashflow
4 year - 1,000 cashflow"---------
Briefly answer the following question: (100 words limit) To evaluate the quality of foreign exchange rate forecasting, all we need to do is to compute the forecast errors, that is, the lower errors, the better forecast. Do you agree with this statement, why or why not? (
The do not agree with the statement that the lower forecast errors indicate better foreign exchange rate forecasting.
While forecast errors are an important metric in evaluating the accuracy of forecasts, they do not provide a complete assessment of the quality of forecasting.Forecast errors only measure the discrepancy between predicted and actual values. However, other factors need to be considered to determine the overall quality of foreign exchange rate forecasting. These factors include the methodology used, the information available at the time of forecasting, the economic models employed, and the expertise and experience of the forecasters.
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Carla Vista Repairs has 200 auto-maintenance service outlets nationwide. It performs primarily two lines of service: oil changes and brake repair. Oil change-related services represent 70% of its sales and provide a contribution margin ratio of 20%. Brake repair represents 30% of its sales and provides a 40% contribution margin ratio. The company's fixed costs are $12,792,000 (that is, $63,960 per service outlet). Sales mix is determined based upon total sales dollars. (a) Calculate the dollar amount of each type of service that the company must provide in order to break even. (Use Weighted-Average Contribution Margin Ratio rounded to 2 decimal places e.g. 0.25 and round final answers to 0 decimal places, e.g. 2,510.)
In order to break even, Carla Vista Repairs must provide $34,440,000 worth of oil change services and $14,760,000 worth of brake repair services.
To calculate the dollar amount of each type of service that Carla Vista Repairs must provide in order to break even, we need to consider the sales mix and contribution margin ratios.
First, let's calculate the Weighted-Average Contribution Margin Ratio. This is done by multiplying the contribution margin ratio of each service by its sales mix percentage, and then summing the results.
For oil changes:
Sales mix percentage: 70%
Contribution margin ratio: 20%
Weighted contribution margin ratio for oil changes = 70% * 20% = 14%
For brake repair:
Sales mix percentage: 30%
Contribution margin ratio: 40%
Weighted contribution margin ratio for brake repair = 30% * 40% = 12%
Now, let's calculate the total fixed costs:
Fixed costs = $12,792,000
To break even, the total contribution margin must cover the fixed costs. We can use the following formula:
Break-even sales dollars = Fixed costs / Weighted-Average Contribution Margin Ratio
Break-even sales dollars = $12,792,000 / (14% + 12%) = $12,792,000 / 26% = $49,200,000
Now, let's calculate the dollar amount of each type of service that the company must provide to break even.
For oil changes:
Oil change sales dollars = Break-even sales dollars * Sales mix percentage for oil changes
Oil change sales dollars = $49,200,000 * 70% = $34,440,000
For brake repair:
Brake repair sales dollars = Break-even sales dollars * Sales mix percentage for brake repair
Brake repair sales dollars = $49,200,000 * 30% = $14,760,000
Therefore, in order to break even, Carla Vista Repairs must provide $34,440,000 worth of oil change services and $14,760,000 worth of brake repair services.
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How is binding arbitration superior to the courts in settling
labor disputes? 2.What information can be presented as evidence
during arbitration proceedings?
Binding arbitration is a type of dispute resolution mechanism where the parties agree to abide by the decision of an independent arbitrator.
This process is superior to the courts in settling labor disputes for the following reasons:
It is often faster and less expensive than traditional litigation.There is a higher likelihood that both parties will agree to the decision because they have participated in the process of selecting the arbitrator.Arbitrators are typically experienced professionals with specialized knowledge in the field in which they are rendering decisions, making it more likely that they will be familiar with the nuances of labor disputes.
In arbitration proceedings, the evidence presented can include, but is not limited to the following:
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Binding arbitration is superior to the courts in settling labor disputes for several reasons. It is faster, more efficient, less costly, and less formal. Documents, witness testimony, and expert opinions are presented as evidence.
Moreover, it allows for a more flexible decision-making process that takes into account the specific needs of the parties involved. Here is a description of the superiority of binding arbitration over the courts in settling labor disputes:
1. Speed: Binding arbitration is much faster than the court system. This is because it is an informal process that is less bureaucratic than the court system. Arbitrators are not required to follow the same rules of evidence as the courts, and they can make decisions quickly.
2. Efficiency: Binding arbitration is much more efficient than the court system. This is because the parties involved can agree on the procedures and timelines for the arbitration. This means that they can set deadlines for evidence and arguments, and the arbitrator can make a decision based on the evidence presented.
3. Cost: Binding arbitration is less expensive than going to court. This is because there are no court fees, and the parties involved do not have to pay for lawyers. This means that the process is more accessible to everyone.
4. Flexibility: Binding arbitration is more flexible than the court system. This is because the parties involved can agree on the rules and procedures for the arbitration. They can choose the arbitrator, and they can set the scope of the arbitration. This means that the process is more tailored to the specific needs of the parties involved.
In terms of evidence, any relevant information can be presented as evidence during arbitration proceedings. This includes documents, witness testimony, and expert opinions. The arbitrator will consider all the evidence presented and make a decision based on the facts of the case. However, the rules of evidence are more relaxed in arbitration proceedings than in the courts. This means that the parties involved can present evidence that would not be admissible in court.
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Assume the reserve requirement is 10% and the MPC=0.6 for the economy when a stock market downturn reduces aggregate demand by $100 billion.
a. Suppose the Federal Reserve wants to increase investment demand to offset the reduction in aggregate demand. To accomplish this goal, how much does investment demand need to increase?
b. To increase investment demand by the desired amount, the Fed estimates that interest rates will need to (increase / decrease) by 4% and the money supply will need to (decrease / increase) by $200 billion.
c. In order to achieve the $200 billion change in the money supply, the Fed will make an (open market sale / open market purchase) of how many billions?
A $100 billion boost in investment demand would be required on the part of the Federal Reserve to make up for the decline in overall demand. Therefore, $100 billion more in investment demand would be required.
According to the Fed, interest rates must drop by 4% and the money supply must rise by $200 billion in order to stimulate investment demand by $100 billion. (Note: Since increasing investment demand is the goal, lower interest rates are necessary to promote borrowing and investment.)
c. The Fed will need to make an open market purchase in order to reach the $200 billion increase in the money supply. Purchasing government securities from banks and other financial organisations is known as an open market purchase. This adds fresh.
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ASSUME YOU ARE A HEAD BUYER FOR A NEW CLOTHING RETAIL COMPANY. WHAT ARE THE STEPS YOU WOULD FOLLOW IN THE SUPPLIER SELECTION PROCESS? LINK EACH STEP TO THE YOUR TYPE OF BUSINESS/INDUSTRY AND WHAT YOU MAY HAVE TO FOCUS ON WHEN SELECTING YOUR SUPPLIERS?
The supplier selection process should ensure that the company gets the right suppliers who can provide the right products at the right price.
As a head buyer for a new clothing retail company, the following are the steps to be followed in the supplier selection process: 1. Supplier identification: As a head buyer, you must first identify the potential suppliers that can meet the company's product and service demands. It may be challenging for a new clothing retail company to identify and work with potential suppliers that have experience in this field. Therefore, the focus should be on identifying reliable, reputable suppliers in the industry.
2. Supplier evaluation: You should evaluate each potential supplier to ensure that they can meet the company's needs. The evaluation process should focus on the supplier's reputation, reliability, flexibility, capacity, and price. You should look for suppliers that have the ability to deliver products on time, have a good reputation, and can provide quality products at a reasonable price.
3. Supplier selection: After evaluating potential suppliers, you should choose the ones that meet the company's needs. It is important to focus on suppliers that can provide high-quality products at a reasonable price. Additionally, you must select suppliers who are reliable and can deliver products on time. You may need to negotiate prices and terms with the suppliers selected to ensure the company's needs are met.When it comes to the clothing industry, it is essential to select suppliers who can provide quality fabrics and materials to the company. Therefore, the focus should be on identifying reliable and reputable suppliers who can deliver high-quality products at a reasonable price. The company may also need to focus on suppliers who can provide flexibility in delivery schedules and adapt to changing market trends. Overall, the supplier selection process should ensure that the company gets the right suppliers who can provide the right products at the right price.
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Calculate the settlement amount that the borrower pays to the lender under a 1:4 FRA for a face value of $8,200,000. The agreed rate that the borrower will pay under the FRA is 5.8% pa and the market rate in 30 days is 5.82% pa. Assume that each period is 30 days long. Give your answer in dollars and cents to the nearest cent.
Settlement amount = $
The settlement amount in the Forward Rate Agreement (FRA) is -$164.00.
To calculate the settlement amount in a Forward Rate Agreement (FRA), we need to determine the difference between the agreed rate and the market rate, and then apply it to the notional amount.
Face value (notional amount) = $8,200,000
Agreed rate = 5.8% per annum
Market rate = 5.82% per annum
Period = 30 days
First, we need to calculate the interest rate difference:
Rate difference = Agreed rate - Market rate
Rate difference = 5.8% - 5.82%
Rate difference = -0.02%
Next, we calculate the settlement amount by multiplying the rate difference by the notional amount and adjusting it for the period:
Settlement amount = (Rate difference * Notional amount) * (Period / 360)
Settlement amount = (-0.02% * $8,200,000) * (30 / 360)
Now, let's calculate the settlement amount:
Settlement amount = (-0.0002 * $8,200,000) * (30 / 360)
Settlement amount = -$164.00
The settlement amount that the borrower pays to the lender under the 1:4 FRA is -$164.00. Note that the negative sign indicates that the borrower receives this amount from the lender.
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What are some of the economic issues embedded in the illegal
migration flows at the US border?
1. Labor market competition: Illegal migrants often compete with low-skilled US workers for jobs, leading to lower wages and employment opportunities for American workers.
2. Fiscal burden: Illegal migrants often use public services such as healthcare, education, and welfare, which can put a strain on government budgets and taxpayers.
3. Human trafficking: The illegal migration industry is often controlled by criminal organizations that engage in human trafficking and exploitation, leading to human rights abuses and criminal activities.
4. Remittances: Illegal migrants often send money back to their home countries, which can have a positive impact on the economies of those countries but can also lead to a drain on the US economy.
5. Border security costs: The cost of securing the US border and enforcing immigration laws can be significant, leading to a drain on government resources.
6. Economic impact on communities: The influx of illegal migrants can have a significant impact on local communities, including increased demand for services and housing, as well as potential social and cultural tensions.
An investment center of Thornton Corporation shows an operating income of $8,580 on total operating assets of $66,000. Required Compute the return on investment. (Round your answer to 2 decimal places
The return on investment of the investment center of Thornton Corporation is 13%.
The formula to calculate the return on investment is ROI = Operating income/Total operating assets.
For an investment center of Thornton Corporation that shows an operating income of $8,580
on total operating assets of $66,000,
the calculation for the return on investment is as follows;
ROI = Operating income/Total operating assets
= $8,580/$66,000
= 0.13 or 13% (rounded to 2 decimal places)
Therefore, the return on investment of the investment center of Thornton Corporation is 13%.
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Due Date: Sunday 11:59 p.m. Unit 3 Polnts: 100 Overviow: You will research one or two well known brands and discuss their competitive advantage with that you have leamed in this course. Instructions:
Instructions The company's competitive advantage should be described in terms of the theories presented in the course.
You must apply the theories to the businesses you're examining and provide specific examples of how they use those theories. Include all appropriate citations to sources used in the research. Your submission must be in APA format and at least three pages in length.
You must have at least three reputable references in your submission. You are free to use any reputable source you choose, but you must cite it correctly to give credit where it is due. You can use the following outline to structure your essay: Introduction to the brand: Name of the company, industry, brief history, etc.
The company's competitive advantage: Discuss how the business's competitive advantage is achieved by the application of various theories. (For example, discuss how the company leverages its supply chain or the resources that give it a sustainable advantage.)Specific examples: Use examples to explain how the business has implemented the theories in practice.
Conclusion: Summarize your key points, emphasize the importance of a competitive advantage, and offer your own perspectives on the company's approach.
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Terry Troublemaker works as a real estate agent helping people buy and sell homes in Denver. Realizing that people do not read contracts, Terry increases her fees beyond industry standards and adds terms requiring buyers to give her the right of first refusal when they decide to sell their house in the future at the price they bought it for. In other words, they are not allowed to sell or transfer ownership of their house without giving her the opportunity to buy it first without making a profit. The contract also requires buyers to pay money for what Terry claims is a tax, but is really just a deposit into her private account.
What crime(s) has Terry committed? Terry’s customer Carla discovered the right of first refusal provision when she tried to sell her home. What defense(s) does she have against the enforcement of this contract provision?Carla sues Terry and the real estate company she works for. Who do you think will win? Why?What legal liability does the real estate company have for Terry’s actions? Why?
Terry Troublemaker, a real estate agent, has committed several crimes, including fraudulent misrepresentation, deceptive trade practices, and potentially embezzlement.
Terry has committed fraudulent misrepresentation by increasing her fees beyond industry standards without proper disclosure to clients. Additionally, adding the right of first refusal provision, which restricts buyers from selling their homes without offering it to Terry first at the purchase price, is likely considered a deceptive trade practice and potentially an unconscionable contract provision.
Terry's requirement for buyers to pay money under the false pretense of it being a tax, while depositing it into her private account, may amount to embezzlement or misappropriation of funds.
Carla, as a buyer, may have several defenses against the enforcement of the contract provision. One defense is unconscionability, arguing that the provision is so one-sided and unfair that it shocks the conscience. Another defense is illegality, as the provision restricts the buyer's ability to freely sell or transfer ownership of their property.
In the lawsuit, Carla is likely to have a strong case against Terry and the real estate company. Terry's actions were unethical, deceptive, and potentially illegal, which would likely invalidate the contract provision and give Carla grounds to seek damages. The real estate company may also be held legally liable for Terry's actions through the principle of vicarious liability. This principle holds employers responsible for the actions of their employees within the scope of their employment. The company may have a duty to supervise and control their agents, and their failure to do so may result in legal liability.
In conclusion, Terry's actions have committed various crimes, Carla may have valid defenses against the contract provision, and she is likely to have a strong case against Terry and the real estate company. The real estate company may face legal liability due to Terry's actions and their responsibility to oversee their agents' conduct.
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Many people around the world were significantly affected by the 2008 financial crisis and its aftermath. How did it affect you, your friends, or your family? How does your story relate to the interconnectedness of the global economy?
The 2008 financial crisis had a significant impact on my family's finances, leading to job loss and financial strain.
During the 2008 financial crisis, my father lost his job, resulting in financial hardship for our family. We faced difficulties in paying bills and had to make significant lifestyle adjustments. This personal experience illustrates how the crisis had a direct and immediate impact on our lives. It also highlights the interconnectedness of the global economy, as the crisis originated in the United States but had ripple effects worldwide, affecting job markets, investments, and consumer confidence in various countries. The crisis demonstrated how economic events in one part of the world can reverberate globally, underscoring the interconnected nature of the modern economy.
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The following are the characteristics of the growth mindset EXCEPT
O A Life long learning is prefered.
O B. Appreciate feedback about current capabilities.
O C. Personal criticism is prefered
O D. failure is accepted with good grace
C) The correct option among the following is option C, personal criticism is preferred as a characteristic of the growth mindset.
This is because in the growth mindset, individuals believe that their abilities and intelligence can be developed and improved through hard work and dedication. They see challenges and setbacks as opportunities for growth and learning, and are open to feedback and constructive criticism about their current capabilities.
However, personal criticism is not preferred in the growth mindset as it can be detrimental to one's motivation and self-esteem. Instead, individuals with a growth mindset focus on the process of learning and improvement, rather than on their own personal traits or abilities. They are resilient in the face of failure and setbacks, accepting them with good grace as opportunities for learning and growth.
Additionally, they embrace lifelong learning and are constantly seeking out new challenges and opportunities to develop their skills and knowledge.
Hence, Correct option is C.
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Explain the distinction between a statistical relationship and a causal relationship (causal refers to cause and effect, not casual) in Marketing Research
In marketing research, a statistical relationship refers to an observed association or correlation between variables.
It implies that changes in one variable are accompanied by changes in another variable, but it does not necessarily indicate a cause-and-effect relationship. A statistical relationship is based on statistical analysis and can provide valuable insights into patterns and trends in data.
On the other hand, a causal relationship refers to a cause-and-effect connection between variables. It suggests that changes in one variable directly influence changes in another variable.
Establishing a causal relationship requires more than just observing a statistical association. It involves demonstrating that one variable is the cause and the other variable is the effect, and ruling out alternative explanations.
To determine a causal relationship, researchers often conduct experiments or use advanced statistical techniques such as regression analysis, structural equation modeling, or randomized controlled trials.
These methods help control for confounding factors and isolate the impact of one variable on another.
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1. Why has the average US company's current ratio decreased since 1981? A. Better accounts payable management B. Better inventory management C. Better accounts receivable management D. Both B and C E. None of the above 2. Which of the following are true? A. Operating cycle equals average age of inventory plus average payment period B. Cash conversion cycle equals operating cycle plus average collection period C. Cash conversion cycle equals operating cycle minus average payment period D. Average age of inventory equals operating cycle plus average collection period E. None of the above. 3. During 2021, Bismuth Cartridge Corporation had an average daily cost of goods sold of $13 million, average accounts receivable of $91 million, average inventory of $104 million. What was Bismuth's average age of inventory for the year? A. 8 days B. 7 days C. 1 day D. 91 days E. None of the above 4. If a firm wishes to shorten its operating cycle, it should A. Turn over inventory as slowly as possible B. Offer generous credit terms to customers with long repayment periods C. Invert its cash collection cycle D. Turn over inventory as quickly as possible E. None of the above
So, the correct option is E.4. If a firm wants to shorten its operating cycle, it should turn over inventory as quickly as possible. So, the correct option is D.
1. The reason why the average US company's current ratio has decreased since 1981 is that Better inventory management and Better accounts receivable management have happened. So, the correct option is D.
2. The following statements are true: Operating cycle equals average age of inventory plus average payment period. Cash conversion cycle equals operating cycle plus average collection period. So, the correct options are A and B.
3. The formula to calculate the average age of inventory is as follows: Average age of inventory = (Average inventory / Cost of goods sold) x Number of days in the year. Average age of inventory = (104/13000) × 365= 2.95 days ≈ 3 days.
So, the correct option is E.4. If a firm wants to shorten its operating cycle, it should turn over inventory as quickly as possible. So, the correct option is D.
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On December 21, 2020, Bucky Katt Company provided you with the following information regarding its equity investments.
December 31, 2020
Investments (Trading) Cost Fair value Unrealized Gain (Loss)
Clemson Corp. stock $20,000 $19,000 $(1,000)
Colorado Co. stock 10,000 9,000 (1,000)
Buffaloes Co. stock 20,000 20,600 600
Total of portfolio $50,000 $48,600 (1,400)
Previous fair value adjustment balance 0
Fair value adjustment-Cr. $(1,400)
During 2021, Colorado Co. stock was sold for $9,400. The fair value of the stock on December 31, 2021, was Clemson Corp. stock-$19,100; Buffaloes Co. stock-$20,500. None of the equity investments result in significant influence.
a) Prepare the adjusting journal entry needed on December 31, 2020.
b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2021.
c) Prepare the adjusting journal entry needed on December 31, 2021.
a) The adjusting journal entry on December 31, 2020, is:
Debit: Unrealized Loss on Investments (Trading) - $1,400
Credit: Fair Value Adjustment - $1,400
b) The journal entry for the sale of Colorado Co. stock in 2021 is:
Debit: Cash - $9,400
Debit: Fair Value Adjustment - Colorado Co. stock - $1,000
Credit: Investments (Trading) - Colorado Co. stock - $10,000
c) The adjusting journal entry on December 31, 2021, is:
Debit: Fair Value Adjustment - Clemson Corp. stock - $100
Debit: Fair Value Adjustment - Buffaloes Co. stock - $100
Credit: Unrealized Gain on Investments (Trading) - $200
a) The adjusting journal entry needed on December 31, 2020, is as follows:
Debit: Unrealized Loss on Investments (Trading) - $1,400
Credit: Fair Value Adjustment - $1,400
This entry recognizes the unrealized loss of $1,400 on the equity investments in the trading portfolio. The debit increases the unrealized loss account, while the credit reduces the fair value adjustment account.
b) The journal entry to record the sale of the Colorado Co. stock during 2021 is as follows:
Debit: Cash - $9,400
Debit: Fair Value Adjustment - Colorado Co. stock - $1,000
Credit: Investments (Trading) - Colorado Co. stock - $10,000
This entry reflects the sale of the Colorado Co. stock for $9,400, resulting in a loss of $1,000. The cash account is debited for the cash received, the fair value adjustment account for Colorado Co. stock is debited to reverse the previous adjustment, and the investments account for Colorado Co. stock is credited to remove the stock from the portfolio.
c) The adjusting journal entry needed on December 31, 2021, is as follows:
Debit: Fair Value Adjustment - Clemson Corp. stock - $100
Debit: Fair Value Adjustment - Buffaloes Co. stock - $100
Credit: Unrealized Gain on Investments (Trading) - $200
This entry adjusts the fair value adjustment accounts for Clemson Corp. stock and Buffaloes Co. stock. The debits increase the fair value adjustment accounts to reflect the increase in fair value, and the credit increases the unrealized gain on investments account.
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a) How would you use personality theories to understand brand personalities of Apple watch? Compare Apple’s brand personality to those of Casio's.
b) Discuss how communication activities (Print ads, TVCs, etc.) from the two brands manifest these personalities.
The brand personality of Apple watch can be understood using differently that the trait theory would suggest that Apple watch's brand personality is characterized by five key traits: open-mindedness, consciousness, extraversion, agreeableness, and neuroticism. On the other hand, Casio's personality is characterized by traits like traditionalism, introversion, cautiousness, and skepticism. It is conservative and reliable.
The brand personality of Apple watch is more appealing to young consumers and early adopters because it is viewed as innovative, approachable, and modern. In contrast, Casio's personality is more appealing to mature consumers who want reliability and trustworthiness from a brand.
The communication activities of Apple and Casio reinforce their respective brand personalities. Apple's print ads and TVCs focus on innovation, design, and simplicity. Apple emphasizes the unique features of its products such as retina display, touch ID, and Siri. The ads emphasize Casio's long history of innovation and reliability. The tone of the ads is serious and conservative.
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L Question 6 Bowrab, Brewery Ltd (Bowrab) is planning to launch a new product of fresh beer to the market. This project requires an initial investment in equipment and net working capital of $850,000.
Bowrab Brewery Ltd (Bowrab) is preparing to introduce a new fresh beer product to the market. The project necessitates an initial investment in equipment and net working capital amounting to $850,000.
Launching a new product, such as fresh beer, requires several considerations, including the necessary financial investments. In this case, Bowrab has determined that an initial investment of $850,000 is required. This investment covers the cost of acquiring equipment and securing sufficient working capital to support the production and distribution of the new beer product.
The equipment investment is crucial for the brewing process and ensuring the production of high-quality fresh beer. It includes expenses related to brewing tanks, fermentation vessels, filtration systems, packaging equipment, and other necessary machinery.
In addition to equipment costs, Bowrab needs to allocate a portion of the initial investment to net working capital. This capital is used to cover day-to-day operational expenses, such as raw materials, labor, packaging materials, marketing and advertising, and other ongoing costs associated with producing and promoting the fresh beer product.
By making this initial investment in equipment and net working capital, Bowrab aims to establish a strong foundation for the successful launch and sustained growth of their new fresh beer product in the market.
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24:32 Euston Company must decide whether to make or buy some of its components. The costs of producing 00 switches for its generators are as follows: target Materials $100,000 Tanect Labor $275,000 Ovable Overhead $200,000 Fred Overhead $60,000 Instead of making the switches, the company has the opportunity to buy the switches at $12.00 per unit. the company purchases the switches, all the variable costs and one-fourth of the fixed costs will be eliminated. of the fixed costs will be the information above to select the correct answer for each item below: ETSPUnformation NOT relevant to this decision is: b) The total cost of making the switches is: The total cost of buying the switches is: The effect on Net Income of buying the switches is: (e) Based on (d), Braxton company buy the switches (Braxton Company could release productive capacity that would general additional income of $14,000 change the decision in (8). by buying the switches, that
The total cost of making the switches is $635,000. The total cost of buying the switches is $120,000. The effect on Net Income of buying the switches is a decrease of $640,000.
a) The information NOT relevant to this decision is: The number of switches needed by the company. Because the decision to make or buy the switches does not depend on the number of switches needed by the company.
b) The total cost of making the switches is:
$100,000 + $275,000 + $200,000 + $60,000 = $635,000
Therefore, the total cost of making the switches is $635,000.
c) The total cost of buying the switches is:
$12.00 x 10000 switches = $120,000
Therefore, the total cost of buying the switches is $120,000.
d) The effect on Net Income of buying the switches is:
Net Income = Total Revenue - Total Cost
If the company decides to buy the switches, then the variable costs and one-fourth of the fixed costs will be eliminated. The fixed costs eliminated will be one-fourth of $260,000 = $65,000.
The total cost of buying the switches is $120,000.
Variable costs eliminated = $100,000 + $275,000 + $200,000 = $575,000
Fixed costs eliminated = $65,000
Total costs eliminated = $575,000 + $65,000 = $640,000
Net Income = Total Revenue - Total Cost
Net Income = $0 - $640,000
Net Income = -$640,000
Therefore, the effect on Net Income of buying the switches is a decrease of $640,000.
e) Based on (d), Euston Company should buy the switches. If Euston Company buys the switches, the net income will decrease by $640,000. However, the cost of making the switches is $635,000, which is more expensive than buying the switches for $120,000.
Therefore, Euston Company should buy the switches. If Euston Company buys the switches, it could release productive capacity that would generate additional income of $14,000, which further supports the decision to buy the switches.
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Abbey Co. sold merchandise to Gomez Co. on account, $31,500, terms 2/15, net 45. The cost of the goods sold was $13,671. Abbey Co. issued a credit memo for $3,800 for merchandise returned that originally cost $1,085. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions?
A) $12,586
B) $18,284
C) $14,560
D) $3,800
The amount of gross profit earned by Abbey Co. on the above transactions is $15,114. The correct answer is option d.
To determine the amount of gross profit earned by Abbey Co., we need to calculate the total sales and deduct the cost of goods sold.
Total Sales:
Sales = Selling price per unit * Number of units sold
Sales = $31,500 - $3,800 (credit memo)
Sales = $27,700
Cost of Goods Sold:
Cost of Goods Sold = Cost per unit * Number of units sold
Cost of Goods Sold = $13,671 - $1,085 (credit memo)
Cost of Goods Sold = $12,586
Gross Profit:
Gross Profit = Total Sales - Cost of Goods Sold
Gross Profit = $27,700 - $12,586
Gross Profit = $15,114
The correct answer is option d.
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Complete question
Abbey Co. sold merchandise to Gomez Co. on account, $31,500, terms 2/15, net 45. The cost of the goods sold was $13,671. Abbey Co. issued a credit memo for $3,800 for merchandise returned that originally cost $1,085. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions?
A) $12,586
B) $18,284
C) $14,560
D) $15,114
Answers here should be as simple and non-technical as you can make them. It might be helpful to glance at the questions here and, if you are unable to solve them immediately, complete them after the computation section. For the true/false questions, you do not need to justify your answers. 1. Explain what it intuitively means for function f(x,y) to be continuous in some domain D. 2. Consider the function below and the point (x,y,z) shaded in red. Is fx positive, negative, or zero? What about fy ?
Intuitively means to understand or perceive something based on instinct, feeling, or common sense, rather than relying solely on logical reasoning or explicit evidence. It refers to having a deep understanding or insight into something without needing explicit explanations or detailed analysis
1. A function is said to be continuous in the domain D if, at each point of D, it is possible to draw a small neighbourhood around that point such that the function values are as close to the point as desired. This means that the function does not have any breaks, jumps, or other sudden changes that prevent it from being graphed smoothly.
2. Given function
f(x,y,z) = xyz, and the point (x,y,z) shaded in red. The partial derivative with respect to x is given by
fx = yz. Since x is positive, fx will have the same sign as yz. Therefore, the sign of fx will depend on whether both y and z are positive, both are negative, or one is zero and the other has the same sign as x.
The partial derivative with respect to y is given by fy = xz. Since x and z are positive, fy will have the same sign as xz. Therefore, fy is positive if both x and z are positive and negative if one is positive and the other is negative.
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OA-8 Close Date: Sun, Jul 3, 2022, 11:59 PM Question 3 of 6 Kaitlyn deposited $500 at the end of every month into an RRSP for 7 years. The interest rate earned was 3.50% compounded semi-annually for the first 4 years and changed to 3.75% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 7 years? $47,784.29 Round to the nearest cent
The accumulated value of Kaitlyn's RRSP at the end of 7 years is $47,784.29.
To calculate the accumulated value of the RRSP, we can break down the problem into two parts: the first 4 years and the next 3 years.
First 4 years with a 3.50% interest rate compounded semi-annually.
The interest rate of 3.50% compounded semi-annually means that interest is applied twice a year. To calculate the interest per period, we divide the interest rate by the number of compounding periods per year, which in this case is 2.
Interest rate per period = 3.50% / 2 = 1.75% = 0.0175
Next, we calculate the number of compounding periods for the first 4 years. Since Kaitlyn deposits $500 at the end of each month, the number of compounding periods per year is 12.
Number of compounding periods = 4 years * 12 months/year = 48 periods
We can now calculate the accumulated value using the formula for compound interest:
Accumulated value = Monthly deposit * ((1 + interest rate per period)^(number of compounding periods) - 1) / interest rate per period
Accumulated value = $500 * ((1 + 0.0175)^48 - 1) / 0.0175 = $22,342.36 (rounded to the nearest cent)
Next 3 years with a 3.75% interest rate compounded monthly.
For the next 3 years, the interest rate is 3.75% compounded monthly. To calculate the interest rate per period, we divide the annual interest rate by 12.
Interest rate per period = 3.75% / 12 = 0.3125%
The number of compounding periods for the next 3 years is:
Number of compounding periods = 3 years * 12 months/year = 36 periods
Using the same formula for compound interest:
Accumulated value = Monthly deposit * ((1 + interest rate per period)^(number of compounding periods) - 1) / interest rate per period
Accumulated value = $500 * ((1 + 0.003125)^36 - 1) / 0.003125 = $25,441.93 (rounded to the nearest cent)
Finally, we add the accumulated values from both parts to get the total accumulated value:
Total accumulated value = $22,342.36 + $25,441.93 = $47,784.29 (rounded to the nearest cent)
The accumulated value of Kaitlyn's RRSP at the end of 7 years is approximately $47,784.29.
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On March 1, Harry wrote Peter in a signed letter offering to supply five million bricks at the rate of $28.00 per thousand, and expressly agreeing to keep the offer open until May 1. On April 1, Harry wrote Peter withdrawing his proposition and this letter was received by Peter on April 2. On April 4, Peter mailed a letter to Harry stating that he accepted the offer and renounced the attempt to withdraw the offer, inasmuch as it was to stay open until May 1. When called upon to deliver the bricks, Harry or his representatives refused to do so and Peter sued. Should Peter prevail in his lawsuit? Explain why or why not indicating your legal arguments in support of your answer. Explain fully
1. Harry's attempt to revoke the offer on April 1 was ineffective. 2. Harry's attempt to revoke the offer on April 1 was ineffective. 3. Peter's acceptance was communicated in a timely manner and before any effective withdrawal of the offer.
In this scenario, Peter would likely prevail in his lawsuit against Harry for breach of contract. There are several legal arguments that support this conclusion:
1. Offer and acceptance: Harry's initial letter on March 1 constituted a valid offer to supply five million bricks at a specific price. Peter's letter on April 4 can be considered a valid acceptance of the offer. According to the scenario, Peter accepted the offer before any attempt to withdraw it, and he specifically renounced the withdrawal attempt based on the understanding that the offer would remain open until May 1.
2. Revocation of offer: Although Harry attempted to withdraw his proposition by writing to Peter on April 1, it is important to consider the legal principles regarding revocation of an offer. A valid offer can generally be revoked at any time before it is accepted, unless there is an option contract or other legally binding commitment to keep the offer open for a specified period. In this case, Harry's initial offer expressly stated that it would remain open until May 1, creating an option contract. Therefore, Harry's attempt to revoke the offer on April 1 was ineffective.
3. Communication of acceptance: According to the scenario, Peter mailed his acceptance letter to Harry on April 4. The general rule is that an acceptance is effective upon dispatch, meaning that the acceptance is valid as soon as it is properly sent. Therefore, Peter's acceptance was communicated in a timely manner and before any effective withdrawal of the offer.
Based on these legal arguments, Peter should prevail in his lawsuit against Harry for breach of contract. Harry's attempt to withdraw the offer after Peter's acceptance was ineffective because the offer remained open until May 1, and Peter's acceptance was validly communicated before any withdrawal attempt. As a result, Harry's refusal to deliver the bricks constitutes a breach of the contract formed between the parties.
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1. ABC company have forecast approximately $10 million sales for the coming year. They have decided to allocate $200,000 (2% of turnover) to marketingWhich budget setting method are they using?
A. arbitrary method
B. affordable method
C. competitive parity method
D. competitive percentage method
E. percentage of sales method
2. pricing tactics lower the price of a product below the store's cost to get consumers into the store (to hopefully buy additional products), whereas pricing intentionally sets prices lower than competitors with the goal to drive the competitor out of business.
A. Dynamic-predatory
B. Prestige; loss leader
C. Loss leader; Predatory
D. Cost-based; Prestige
E. Loss leader; Cartel
3. All of the following questions are answered in a situational analysis of the company, except:
A. How can we identify a strategic gap?
B. Where are we now?
C. Where will we be if we do the same things?
D. How are we going to get there?
E. How did we get here?
The answer is follow as:
1. The budget setting method used by ABC company is percentage of sales method (option e).
2. The pricing tactics described in the question are loss leader; Predatory (option c).
3. The question that is not typically answered in a situational analysis of the company is how are we going to get there (option d).
The budget setting method used by ABC company is percentage of sales method (option e). The percentage of sales method is a budget setting method where a certain percentage of the forecasted sales is allocated for marketing expenses. In this case, ABC company has allocated 2% of their forecasted sales ($10 million) for marketing, which amounts to $200,000. This method ensures that the marketing budget is directly tied to the expected sales and allows for flexibility based on the company's revenue.
The pricing tactics described in the question are loss leader; Predatory (option c). A loss leader is a pricing tactic where a product is intentionally priced lower than its cost to attract customers to the store in the hope that they will purchase additional products. The goal is to generate more overall revenue despite incurring a loss on the initial product sold. This tactic aims to drive sales and increase customer traffic.
On the other hand, predatory pricing is a strategy where prices are intentionally set lower than competitors with the goal of driving the competitor out of business. The company sells its products or services at prices that are unsustainable for competitors, leading to their exit from the market.
Therefore, the described pricing tactics fall under the category of loss leader (lowering prices to attract customers) and predatory pricing (lowering prices to drive competitors out of business).
The question that is not typically answered in a situational analysis of the company is how are we going to get there (option d). A situational analysis of a company focuses on understanding the current state of the company and its external environment. It aims to answer questions such as:
A. How can we identify a strategic gap?
B. Where are we now?
C. Where will we be if we do the same things?
E. How did we get here?
The question "How are we going to get there?" is typically addressed in the strategic planning process, which comes after the situational analysis. It involves developing strategies and action plans to achieve the company's objectives based on the findings of the situational analysis.
Therefore, the question "How are we going to get there?" is not typically answered in a situational analysis.
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What are some of the positive steps an organization can take to ensure successful cross-cultural communication and negotiation?
Do you think organizations factor in these costs when setting up overseas operations?
1. To ensure successful cross-cultural communication and negotiation, organizations can take steps such as cultural awareness training, language support, and relationship-building.
2. While some organizations factor in the costs of cross-cultural communication and negotiation when setting up overseas operations, it may vary, but there is a growing recognition of their significance.
To ensure successful cross-cultural communication and negotiation, organizations can take several positive steps:
1. Cultural Awareness and Training: Provide cultural awareness and sensitivity training to employees involved in cross-cultural communication and negotiation. This can help them understand and appreciate different cultural norms, values, communication styles, and business practices.
2. Language Support: Ensure language support is available, such as interpreters or language training, to bridge communication gaps and facilitate effective understanding.
3. Research and Preparation: Conduct thorough research on the target culture, including business etiquette, customs, and protocols. This preparation enables organizations to demonstrate respect and adapt their communication and negotiation strategies accordingly.
4. Building Relationships: Prioritize relationship-building and invest time in cultivating personal connections with individuals from different cultures. This helps foster trust and rapport, which are crucial for successful communication and negotiation.
5. Active Listening: Encourage active listening by all parties involved, focusing on understanding perspectives, clarifying misunderstandings, and acknowledging cultural nuances.
6. Flexibility and Adaptability: Cultivate a flexible and adaptable mindset to accommodate cultural differences and adjust negotiation strategies accordingly. This includes being open to alternative approaches and compromise.
7. Cross-Cultural Teams: Utilize diverse, cross-cultural teams to leverage different perspectives, insights, and expertise in negotiation processes. This can help in understanding cultural nuances and finding mutually beneficial solutions.
Regarding the second part of your question, while organizations may consider various costs when setting up overseas operations, including infrastructure, labor, and market factors, the specific consideration of cross-cultural communication and negotiation costs may vary. Some organizations may recognize the importance of these costs and invest in resources and training to ensure successful communication and negotiation. Others may overlook or underestimate these costs, leading to potential challenges and setbacks in their overseas operations. However, as globalization continues to grow and awareness of cross-cultural dynamics increases, organizations are increasingly recognizing the significance of factoring in these costs and taking steps to mitigate any potential risks or barriers to effective communication and negotiation.
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Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs You need a dollar 110,000 loan.
Option 1: a 30-year loan at an APR of 9 percentage.
Option 2: a 15-year loan at an APR of 8.5 percentage.
Find the monthly payment for each option.
The total loan cost for Option 1 is higher than Option 2 despite having a lower APR. The monthly payments for Option 1 and Option 2 are $884.21 and $1,057.93 respectively.
Given data:
Loan amount = $110,000
Option 1: 30-year loan at an APR of 9%
Option 2: 15-year loan at an APR of 8.5%
Let's calculate the monthly payment for Option 1:
Monthly Payment = Loan amount * (r(1+r)^n / (1+r)^n -1)where r = Rate of interest /12 (interest rate per month), n = Total number of payments For Option 1, r = 9%/12 = 0.0075 and n = 30 years * 12 = 360 months Plugging in these values, Monthly Payment for Option 1= $110,000 * (0.0075(1+0.0075)^360 / ((1+0.0075)^360 - 1)=$884.21 (approx.)
Now, let's calculate the monthly payment for Option 2:For Option 2, r = 8.5%/12 = 0.007083 and n = 15 years * 12 = 180 months Plugging in these values, Monthly Payment for Option 2= $110,000 * (0.007083(1+0.007083)^180 / ((1+0.007083)^180 - 1)=$1,057.93 (approx.)
Thus, the monthly payments for Option 1 and Option 2 are $884.21 and $1,057.93 respectively. To calculate the total loan cost, we need to multiply the monthly payment by the total number of payments (n).
For Option 1, the total loan cost is $884.21 x 360 = $318,315.60.For Option 2, the total loan cost is $1,057.93 x 180 = $190,427.40.
The total loan cost for Option 1 is higher than Option 2 despite having a lower APR.
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Completely Nuts Peanut Butter wanted to analyze their results for their most recent month of sales in the Southwestern US. Their plan and actual results were as follows: Measure Demand (000s Units) Share Marketing Exp. ($000s) Price Cost TUTORIAL What is value of the demand variance (in 000s of dollars)? PS1 1 2 March Plan March Actual 25,000 15.6% $300 $3.50 $1.57 3 25,400 14.5% $310 $3.11 $1.50 0.0 000s of dollars 4 5 6 789 SUBMIT ANSWER EXIT CALCULATED VARIABLES: NMCVar = $-1,607 anmc = $5,620 pnmc = $7,227 PRev = $13,650 PVol = 3,900
The value of the demand variance is -$1,017 (in 000s of dollars) is the answer.
Given the values in the table, we can calculate the actual demand, actual revenue, and expected revenue for Completely Nuts Peanut Butter. Actual demand can be calculated as the product of measured demand and the share. Actual revenue is the product of actual demand and price. Expected revenue is calculated by multiplying expected demand by the price.
The following formula is used to calculate demand variance: Demand variance = Actual revenue - Expected revenue
Actual revenue can be calculated as the product of actual demand and price.
Expected revenue can be calculated as the product of expected demand and price.
The calculation is done in the table given below:
Measure Demand (000s Units)
Share Marketing Exp. ($000s)
Price Cost Actual Demand (000s)
Actual Revenue (in 000s of dollars)
Expected Revenue (in 000s of dollars)
Demand Variance (in 000s of dollars)
March Plan 25,000 15.6% $300 $3.50 $1.57 3,900 $13,650 $13,725 -$75
March Actual 25,400 14.5% $310 $3.11 $1.50 3,690 $11,509 $12,526 -$1,017
The value of the demand variance is -$1,017 (in 000s of dollars).
Therefore, the correct option is $-1,017.
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