Question
In: Statistics and Probability
Rita is the owner of Rita’s Osteria. She wants to study the growth of her business...
Rita is the owner of Rita’s Osteria. She wants to study the growth of her business using simulation. She is interested in simulating the number of customers and the amount ordered by customers each month. She feels that the number of customers is normally distributed, with a mean of 800 and a standard deviation of 45. The bill for each customer is $65 and uniformly distributed, with a maximum increase of 8% and a minimum decrease of 5%. The changes of the bills are incremental, i.e. each change is based off the average bill of the previous month. Formulate a simulation, computing the mean total revenue and the standard deviation in one year.
Solutions
orchestra answered 1 year agoRelated Solutions
Rita wants to be involved in business. She has a fair amount of money to invest,...
Rita wants to be
involved in business. She has a fair amount of money to invest, but
she does not want to be involved in management. She wants to form a
business in the quickest way possible under her circumstances.
Which form of business would be best for Rita?
Corporation
Limited partnership
Sole proprietorship
LLC
Hal and Miranda have a
general partnership business for landscaping projects. Hal makes a
contract with a customer for a project one day while Miranda...
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $900 per month for the
next two years and then $1,800 per month for three years after
that. If the bank is charging customers 8.5 percent APR, how much
would it be willing to lend the business owner? (Round your answer
to two decimal places.)
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $900 per month for the
next two years and then $1,800 per month for three years after
that. If the bank is charging customers 8.5 percent APR, how much
would it be willing to lend the business owner? (Round your answer
to two decimal places.)
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $900 per month for the
next two years and then $1,800 per month for three years after
that. If the bank is charging customers 8.5 percent APR, how much
would it be willing to lend the business owner? (Round your answer
to two decimal places.)
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner
visits her bank to ask for a loan. The owner states that she can
repay a loan at $2,300 per month for the next three years and then
$4,600 per month for two years after that. If the bank is charging
customers 8.25 percent APR, how much would it be willing to lend
the business owner?
A small business owner visits her bank to ask for a loan. The owner states that...
A small business owner visits her bank to ask for a loan. The
owner states that she can repay a loan at $1,300 per month for the
next three years and then $2,600 per month for two years after
that. If the bank is charging customers 8.25 percent APR, how much
would it be willing to lend the business owner? (Do not round
intermediate calculations and round your final answer to 2 decimal
places.)
Lucy Shafer wants to borrow $100,000 to expand her dog-breeding business. She is preparing a set...
Lucy Shafer wants to borrow $100,000 to expand her dog-breeding
business. She is preparing a set of financial statements to take to
the local bank with her loan application. She currently has an
outstanding loan from her uncle for $50,000. Lucy’s uncle is
letting her borrow the money at a very low interest rate, and she
does not need to make any principal payments for five years. Due to
the favorable terms of the loan from her uncle, Lucy has...
Your client, Mary Barnhart, wants to open her own business. She is having difficulty understanding the...
Your client, Mary Barnhart, wants to open her own
business. She is having difficulty understanding the purposes of
financial statements and how they fit together across time.
REQUIRED: Write a one-page letter to Ms. Barnhart explaining the
purposes of the income statement, statement of owners' equity, and
the balance sheet and how they are linked. Use the attached example
for guidance.
Henry Whiteapples
123 Maple Street
Columbus, OH, 45888
December 21, 2004
Dear Mr. Whitebridge,
I understand you are concerned...
wants to get rid of her stock. She offers to sell it to her friend. The...
wants to get rid of her stock. She offers to sell it to her
friend. The stock will not pay dividend for the next 5
years. After year 5, the stock will pay a dividend of
$3, and dividend is expected to grow at 30% in year 6, 30% in year
7, and thereafter, the stock will grow at 5%. If the
risk free is 7%, the market risk premium is 8% and a beta of
1.25. What is the current stock
price?
The owner of a factory wants to estimate the mean cost of manufacturing a product. She...
The owner of a factory wants to estimate the mean cost of
manufacturing a product. She takes a random sample of 36 products
and finds the sample mean cost to be $90. Suppose the population
standard deviation is known to be σ = $10.
A) Create a 90% confidence interval for the population mean.
B) Interpret your confidence interval from part (a).
C) Without calculating another confidence interval, if the
sample of 36 products instead had a mean of $200,...
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