Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income is...

Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income is derived from a graduate research assistantship; however, he also makes extra money in most months by tutoring undergraduates in their quantitative analysis course. His historical chances of various income levels are shown in the following table: Monthly Income* ($) Probability 350 0.40 400 0.20 450 0.30 500 0.10 *Assume that this income is received at the beginning of each month. Siegel’s expenditures also vary from month to month, and he estimates that they will follow this distribution: Monthly Expenses ($) Probability 300 0.10 400 0.45 500 0.30 600 0.15 He begins his final year with $600 in his checking account. Simulate the entire year (12 months) on the next page and discuss Siegel’s financial picture, i.e., will he be able to keep his head above water--(out of debt)? What is his expected average profit for the 12 months? Use the random numbers below. Random numbers for Income and Expenses Income .85 .54 .73 .95 .9 .19 .81 .2 .76 .55 .57 .01 Expenses .99 .44 .01 .80 .95 .72 .75 .16 .32 .57 .31 .32

Please complete in excel and attached excel screenshot! Much appreciated!

Expert Solution

orchestra answered 2 years ago

2. Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income...

2. Artie Siegel, an MBA student, has been having problems balancing his checkbook. His monthly income is derived from a graduate research assistantship; however, he also makes extra money in most months by tutoring undergraduates in their quantitative analysis course. His historical chances of various income levels are shown in the following table: Monthly Income* ($) Probability 350 0.40 400 0.20 450 0.30 500 0.10 *Assume that this income is received at the beginning of each month. Siegel’s expenditures also...

1. Jacob’s monthly income is $2,800 and his monthly expenses total around $2,000. He has been...

1. Jacob’s monthly income is $2,800 and his monthly expenses total around $2,000. He has been contemplating how to use his about $800 surplus. He has the following financial records: Cash in his bank account $560 Investment in a mutual fund which he can easily convert to cash $850 Car (valued at) $12,000 Household personal possessions $2,850 Credit card balances $1,250 Miscellaneous short-term debts $520 Student loan balance $8,500 Balance on car loan $4,500 a) Calculate current ratio, liquidity ratio...

Jacob’s monthly income is $2,800 and his monthly expenses total around $2,000. He has been contemplating...

Jacob’s monthly income is $2,800 and his monthly expenses total around $2,000. He has been contemplating how to use his about $800 surplus. He has the following financial records: Cash in his bank account $560 Investment in a mutual fund which he can easily convert to cash $850 Car (valued at) $12,000 Household personal possessions $2,850 Credit card balances $1,250 Miscellaneous short term debts $520 Student loan balance $8,500 Balance on car loan $4,500 Prepare balance sheet for Jacob.

Janice Underwood, an MBA student in Southeastern University , has been hired as a night manager...

Janice Underwood, an MBA student in Southeastern University , has been hired as a night manager of Campus Deli and Sub Shop (CDSS), which is located adjacent to the campus. Sales were $ 875,000 last year; variable costs were 60 % of sales; and fixed costs were $ 50,000. Therefore, EBIT totalled $ 300,000. Since the university ‘s enrollment is capped, the store’s EBIT is expected to be constant over time. Since no expansion capital is required, CDSS pays out...

Woodcock graduated from law school and finished his MBA in 1983.His student loans came due...

Woodcock graduated from law school and finished his MBA in 1983. His student loans came due nine months later. Because he was a part-time student until 1990, he requested that payment be deferred, which the lender incorrectly approved. Because he was not in a degree program, payment should not have been deferred under the terms of the loan. Woodcock filed for bankruptcy in 1992, more than seven years after the loans first became due. Hence, that debt would be discharged...

The College of Business has been having trouble with errors on student admittance records and you...

The College of Business has been having trouble with errors on student admittance records and you have been asked to investigate the cause of the problem. A form is considered defective if it has one or more errors. You think you have found one of the main reasons for the errors but in order to prove it, you decide to develop a process control chart to follow the current process for a few days. On the next three days, you...

A family has to decide how much of his monthly income to spend on Good 1...

A family has to decide how much of his monthly income to spend on Good 1 and Good 2. Suppose that this household has a fixed income of $600 per month. Further, suppose that the price of Good 1 is p1=$2 and the price of good 2 is p2=$1. Finally, suppose that the tastes of the households are described by utility function u(x1,xx2)= x11/4x23/4, where x1 denotes the quantity of Good 1 and x2 the quantity of Good 2. Suppose...

25) Kathy has been having problems with her staff taking longer than normal breaks in a...

25) Kathy has been having problems with her staff taking longer than normal breaks in a breakroom with very comfortable chairs and table and they invite employee to linger. Kathy ask you to design uncomfortable chairs and tables to discourage employees from lingering. Are there any moral dilemmas, if any? In stating the dilemmas, make explicit the competing moral reasons involved. Are there any ideas or concepts involved in dealing with the moral issues that should be clarified? What factual...

A student starts his experiment with an empty crucible and cover having a mass of 10.0450...

A student starts his experiment with an empty crucible and cover having a mass of 10.0450 g. He is working with a hydrated compound of cobalt (II) sulfate. After adding the hydrate to the empty crucible, the mass of the crucible, cover and hydrate is 11.0680 g. After heating the hydrate, he weighs the crucible, cover and dehydrated sample again and the mass is 10.6480 g. Determine the number of moles of water in the original hydrated cobalt (II) sulfate...

Mr. U has been diagnosed as having multiple sclerosis (MS). As part of his treatment, he...

Mr. U has been diagnosed as having multiple sclerosis (MS). As part of his treatment, he is given baclofen (Lioresal) for muscle spasticity. As a nursing student, he is your assigned patient for the morning. Your clinical instructor has informed you that Mr. U has many questions about the use of baclofen for the treatment of spasticity. How will you best answer the following questions? How does baclofen work? What are the side effects of this drug? What precautions will...

Question