Which of the following statements about quantity discounts is false? A) The cost-minimizing solution may or may not be where annual holding costs equal annual ordering costs. B) In inventory management, item cost becomes relevant to inventory decisions only when a quantity discount is available. C) If carrying costs are expressed as a percentage of value, EOQ is larger at each lower price in the discount schedule. D) The larger the annual demand, the less attractive a discount schedule will be. E) When quantity discounts are allowed, the cost-minimizing order quantity minimizes the sum of holding, ordering, and product costs
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For the following problems, use Octave/Matlab to determine whether the following sets span \(\mathbb{R}^{3}\). Remember you need to pick an arbitrary element in \(\mathbb{R}^{3}\) and see if you can write it as a linear combination of the set of vectors.
For each problem, do the following:
1) - Write the row reduced echelon matrix found by Octave.
2) - Tell me if this set spans \(\mathbb{R}^{3}\).
3) - If this set spans \(\mathbb{R}^{3}\), solve for \(\alpha, \beta, \ldots\) (in other words, tell me how to find the coefficients for the linear combination of our vectors). Otherwise, explain how can you tell the set does not span \(\mathbb{R}^{3}\)
4) - If the set spans \(\mathbb{R}^{3}\), what could you define \(\alpha, \beta, \gamma\), etc. to construct the vector \(\left[\begin{array}{l}1 \\ 2 \\ 3\end{array}\right]\).
a) { ( 1 0 1 ), ( 3 1 0 ), ( -1 0 0 ), ( 2 1 5 ) }
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You are working in a small, student-run company that sends out merchandise with university branding to alumni around the world. Every day, you take a sample of 50 shipments that are ready to be shipped to the alumni and inspect them for correctness. Across all days, the average percentage of incorrect shipments is 5 percent. What would be the upper control limit for a p-chart?
a. 0
b. 0.05
c. 0.03082207 d. 0.142466
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A) C&A sells two kinds of eggs: brown and white. Brown eggs are 5% more expensive than white. Which of the following is the most appropriate way to measure how many eggs C&A has in inventory?
In dollars
In dozens
In inches
In ounces
B)Inventory turns and days-of-supply measure _______ items remain in __________.
how long, inventory
how valuable, inventory
how long, sales
how valuable, sales
C)Higher days of supply means _________ inventory. Higher turns means ______ inventory.
more, more
more, less
less, more
less, less
D)C&A is a car manufactures. If its annual inventory turns increases, what happens to its inventory level?
Remains the same
Increases
Decreases
Cannot be determined
E)Bread expires at the end of the day and cannot be sold. This is related to which kind of inventory cost?
Holding cost
Shortage/stock-out cost
Fixed/set up cost
None of the above
F)Which of the following is NOT an assumption of the EOQ model?
It is possible to receive a purchase discount if the order quantity is sufficiently large.
There is a fixed cost to submit each order that is independent of the amount ordered.
Demand occurs at a constant rate per unit of time
There is a cost to hold each unit of inventory per unit of time.
G)A firm evaluates its EOQ quantity to equal 180 cases but it chooses an order quantity of 200 cases. Relative to the order quantity of 180 cases, the order quantity of 200 cases has:
Higher ordering cost and higher holding cost
Higher (fixed) ordering cost and lower holding cost
Lower (fixed) ordering cost and higher holding cost
Lower (fixed) ordering cost and lower holding cost
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The number of defects after a hotel room cleaning (sheets not straight, smears on mirror, missed debris on carpet, fresh towels not folded, etc.) should be measured using what type of process control chart?
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A) x-bar chart |
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B) R-chart |
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C) p-chart |
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D) c-chart |
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You are given a bag with 3 cubes ( 1 green and 2 white). You put all 3 cubes in a bag and shake the bag and pick a cube. If you pick a green cube, you get 2 points. If you pick a white cube, you get 1 point.
If you play the game 15 times, how many times do you expect to select a green cube?
a) 10
b) 20
c) 5
d) 15
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SBC's focus on building communities with bicycling enthusiasts can be viewed as which of the following two types of promotional strategies?
Pull strategy
Push strategy
Which forms of social media are mentioned in the video as parts of SBC's overall social media strategy?
Online brand communities
Online brand communities and product and service review sites
Social networks
Product and service review sites
Social networks and online brand communities
SBC's Senior Community and Social Media Specialist notes at least one metric that the company uses to evaluate the performance and value of its social media efforts. Which one(ones) is that?
Follower drift
Bounce rates
Engagement and follower drift
Engagement
Conversion rates
Assume that SBC's marketing manager has decided that they would like to send consumers who have never bought a bicycle from SBC, but have opted into mobile promotions from the company a mobile coupon for one of its bicycles when they are near a sports equipment retailer. This is an example of
search engine optimization.
geo-location marketing.
viral marketing.
native advertising.
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As you think about your experience at the last airport security screening, you wonder which of the tasks that you saw the officers do at the security check were waste, which were non-value-added work, and which were value-added work. The tasks that you observed included officers doing the following: (a) officers checking IDs, (b) officers telling passengers to take off their shoes, (c) officers moving bins back to the beginning of the X-ray machines, (d) officers looking at the screen of the X-ray machine,
(e) officers putting bags in the X-ray machine for a second time in case they previously contained fluids, and (f) officers waiting for a passenger to arrive.
Identify each of the above activities as waste, value-added work, or non-value-added work.
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Sea Vista Company operates tour boats. Its predicted operations for the year are as follows:
| Revenues (2,000 tours per year) | $600,000 |
| Costs: | |
| Variable | $200 per tour |
| Fixed | $120,000 per year |
From the above information, the company correctly determines that its total cost per tour at the projected level of output noted above is as follows:
| Total variable costs ($200 x 2,000) | $400,000 |
| Total Fixed costs | $120,000 |
| Total costs | $520,000 |
| Divided by the number of tours for the year | 2,000 |
| = Total cost per tour | $260 |
The company has received a request to provide 90 tours at a price of $205 each, which constitutes a very large discount from their regular price. Sea Vista has plenty of capacity to do these tours in addition to its regular business, and it has been determined that doing these tours will not affect the company's regular sales in any way.
Required:
A. Prepare an income statement (in contribution margin format) for Sea Vista for the year without the inclusion of the special request for the 90 tours at the lower price.
B. Prepare an income statement (in contribution margin format) for Sea Vista for the year that includes the special request for the 90 tours at the lower price.
C. Should Sea Vista accept the special request for the additional 90 tours at the dramatically discounted price that is actually below their total cost per tour?
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