Question
In: Advanced Math
Honeydew bottles honey jars and sells them through retail channels. The weight on the sticker says...
Honeydew bottles honey jars and sells them through retail
channels. The weight on the sticker says 20 oz and Honeydew claims
its bottles have a weight that is normally distributed with a mean
of 20 oz and std dev of 2 oz. The retailer has been receiving
several complaints lately and decides to measure a sample of 4 jars
and finds weights of 18, 20, 17 and 19 oz respectively.
a. The retailer complains to Honeydew if he is 95% confident that
the mean is lower than advertised. Does he complain?
b. If the retailer’s customers return any jar under 18 oz in
weight, what fraction of the retailer’s sales result in a
return?
c. Assuming Honeydew’s claim is true, what is their current sigma capability? What can they do to reduce the fraction of returns to 5%? What then would the new sigma capability be?
I WANT AN ABSOLUTELY CORRECT ANSWER WITH DETAILS.
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Solutions
Colby Messinger answered 6 months agoRelated Solutions
Honeydew bottles honey jars and sells them through retail channels. The weight on the sticker says...
Honeydew bottles honey jars and sells them through retail
channels. The weight on the sticker says 20 oz and Honeydew claims
its bottles have a weight that is normally distributed with a mean
of 20 oz and std dev of 2 oz. The retailer has been receiving
several complaints lately and decides to measure a sample of 4 jars
and finds weights of 18, 20, 17 and 19 oz respectively.
a. The retailer complains to Honeydew if he is 95%...
Cycle Business manufactures and sells road and mountain bikes through a network of retail outlets in...
Cycle Business manufactures and sells road and mountain bikes
through a network of retail outlets in western Canada. Below is a
partial list of expense items incurred in the most recent month
(November), when 1,180 bicycles were manufactured, shipped, and
sold. There was no beginning or ending work in process or finished
goods inventory in November:
Item
October
November
Units produced and sold
1,080
1,180
Sales
$
1,080,000
$
1,180,000
Leather used for the bicycle seats
30,240
33,040
Production manager’s...
Cycle Business manufactures and sells road and mountain bikes through a network of retail outlets in...
Cycle Business manufactures and sells road and mountain bikes
through a network of retail outlets in western Canada. Below is a
partial list of expense items incurred in the most recent month
(November), when 1,060 bicycles were manufactured, shipped, and
sold. There was no beginning or ending work in process or finished
goods inventory in November:
Item
October
November
Units produced and sold
960
1,060
Sales
$
960,000
$
1,060,000
Leather used for the bicycle seats
34,560
38,160
Production manager’s...
PERFORMANCE EVALUATION - Economics Computer Company assembles personal computers and sells them in the retail marketplace....
PERFORMANCE EVALUATION - Economics
Computer Company assembles personal computers and sells them in
the retail marketplace. The company is organized into two profit
centers: the assembly division and the distribution division. The
demand curve facing the company (and the distribution division) is
P = 3,500 – 10Q. The marginal cost for assembly (which includes
purchasing the parts) is constant at $450. The distribution
division faces constant marginal distribution costs of $50 per
unit.
A. What is the profit-maximizing retail price...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level....
Marwick’s Pianos, Inc., purchases pianos from a large
manufacturer and sells them at the retail level. The pianos cost,
on the average, $1,516 each from the manufacturer. Marwick’s
Pianos, Inc., sells the pianos to its customers at an average price
of $3,400 each. The selling and administrative costs that the
company incurs in a typical month are presented below:
Costs
Cost Formula
Selling:
Advertising
$940 per month
Sales salaries and
commissions
$4,824 per month, plus 3% of sales
Delivery of...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level....
Marwick’s Pianos, Inc., purchases pianos from a large
manufacturer and sells them at the retail level. The pianos cost,
on the average, $1,506 each from the manufacturer. Marwick’s
Pianos, Inc., sells the pianos to its customers at an average price
of $3,300 each. The selling and administrative costs that the
company incurs in a typical month are presented below:
Costs
Cost Formula
Selling:
Advertising
$941 per month
Sales salaries and
commissions
$4,793 per month,
plus 5% of sales
Delivery of...
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level....
Marwick’s Pianos, Inc., purchases pianos from a large
manufacturer and sells them at the retail level. The pianos cost,
on the average, $1,510 each from the manufacturer. Marwick’s
Pianos, Inc., sells the pianos to its customers at an average price
of $2,800 each. The selling and administrative costs that the
company incurs in a typical month are presented below:
Costs
Cost Formula
Selling:
Advertising
$
933 per month
Sales salaries and
commissions
$
4,822 per month, plus 4% of
sales...
East Point Retail, Inc., sells professional women's apparel through company-owned retail stores. Recent financial information for...
East Point Retail, Inc., sells professional
women's apparel through company-owned retail stores. Recent
financial information for East Point is provided below (all numbers
in thousands).
Fiscal Year 3
Fiscal Year 2
Net income
$152,300
$78,400
Interest expense
3,100
11,700
Fiscal Year 3
Fiscal Year 2
Fiscal Year 1
Total assets (at end of fiscal year)
$3,250,715
$3,092,143
$2,720,761
Total stockholders' equity (at end of fiscal year)
1,106,640
1,084,726
804,430
Assume the apparel industry average return on total assets is
8.0%,...
Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and...
Yosemite Bike Corp. manufactures mountain bikes and distributes
them through retail outlets in California, Oregon, and Washington.
Yosemite Bike Corp. has declared the following annual dividends
over a six-year period ended December 31 of each year: Year 1,
$24,000; Year 2, $10,000; Year 3, $126,000; Year 4, $100,000; Year
5, $125,000; and Year 6, $125,000. During the entire period, the
outstanding stock of the company was composed of 25,000 shares of
cumulative preferred 2% stock, $90 par, and 100,000 shares...
Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and...
Yosemite Bike Corp. manufactures mountain bikes and
distributes them through retail outlets in California, Oregon, and
Washington. Yosemite Bike has declared the following annual
dividends over a six-year period ended December 31 of each year:
20Y1, $24,250; 20Y2, $10,500; 20Y3, $112,750; 20Y4, $92,500; 20Y5,
$112,500; and 20Y6, $142,500. During the entire period, the
outstanding stock of the company was composed of 25,000 shares of
cumulative preferred 2% stock, $85 par, and 100,000 shares of
common stock, $4 par.
Required:
1....
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