XYZ hotel uses approximately 200 towels daily. It operates 250 days a year. Assuming, lead time is normally distributed with a mean of 2 days and a standard deviation of 0.5 day. The management desires 90 percent service level. Annual carrying costs is $0.8 per towel, and ordering costs is $20. Given the production rate for the towel = 600 towels per day.

1. Determine the optimal order quantity?
2. Determine Safety Stock?
3. The sales people have recently told the top management that they could expect $200 improvement in profit if the service level were increased to 99%. Is it worthwhile for XYZ hotel to make this change?

Consider the following two products: ‘coffee’ sold in a café and ‘hotel accommodation’ in Sydney during the Olympic Games. Which product would have a higher price elasticity of supply in absolute value? Explain your answer including identifying the determinant of elasticity. (1 mark) – Word count 60

GIVE THE ANSWER WITH THE DETERMINENTS OF SUPPLY. SUCH AS

1.Length of time involved in production.

2.Availability of inputs.

3. Existing capacity.

4. Inventories held.

5. Type of industry.

ALSO INCLUDE WHAT KIND OF PRICE ELASTICITY OF SUPPLY IS COFFEE AND HOTEL ACCOMMODATION (INELASTIC/ELASTICS/PERFECT ELASTIC/PERFECT INELASTIC/UNIT ELASTIC ETC)

At year-end (December 31), Chan Company estimates its bad debts as 0.60% of its annual credit sales of $665,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $333 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.
Prepare Chan's journal entries for the transactions.

• Record the estimated bad debts expense.
• Wrote off P. Park's account as uncollectible.
• Reinstated Park's previously written off account.
• Record the cash received on account.

6 Food AND Beverage

As you learned in your Reading, procurement or purchasing is the precursor to the rest of the foodservice management system. In this Journal assignment, you will decide both a purchasing method and process based on your understanding of the readings. Read the scenario and address the checklist items in a thorough response. Scenario: You are the new Beverage Manager at a new large hotel that has banquets and has several restaurants. You are tasked with deciding on the purchasing method and process for purchasing all the alcoholic beverages at the hotel. Checklist: Identify and explain the purchasing method will you use and why. Provide the purchasing process will you use and explain why.

250 word minimum

QUESTION ONE
The data below represent statistics and probability end of semester examination marks of 30
students randomly selected from the population of students who registered for probability and
statistics during 2018/2019 academic year.
16 51 36 45 23 48
37 19 28 28 25 36
76 22 27 18 28 42
38 47 44 29 37 42
27 33 35 46 28 27
Using sturge’s approximation rule with all your answers in one decimal place,
construct a frequency distribution table as follows
Class
Boundary
Tally Frequency Class
midpoint
CF FX FX^2
Calculate the coefficient of skewness for the data set and interpret our result.

QUESTION TWO
Suppose that the operations manager of a nose mask packaging delivery service is
contemplating the purchase of a new fleet of trucks during this COVID-19 period. When
packages are efficiently stored in the trucks in preparation for delivery, two major constraints
have to be considered. The weight in pounds and volume in cubic feet for each item. Now
suppose that in a sample of 200 packages the average weight is 26.0 pounds with a standard
deviation of 3.9 pounds. In addition suppose that the average volume for each of these
packages is 8.8 cubic feet with standard deviation of 2.2 cubic feet. How can we compare the
variation of the weight and volume?

QUESTION THREE
The marketing director of GH HOTEL was interested in studying the intention of consumers
to visit their facility after the president has fully lifted the restriction on public gathering in
2020 and as a follow- up, whether they in fact actually visited. Suppose that a sample of 1000
household was initially selected and the respondents were asked whether they planned to visit
GH HOTEL. Twelve months later the same respondents were asked whether they actually
visited the hotel. The results are summarized in the table below
Planned to visit
Actual visit
Yes No Total
Yes 200 50 250
No 100 650 750
Total 300 700 1000
i. Draw a tree diagram to represent the information in the table.
ii. Find the probability of selecting a respondent who actually visited GH HOTEL.
Interpret your answer in a simple single sentence.
iii. Find the probability of panned visit or actual visit.
iv. Calculate the probability that a respondent actually visited GH HOTEL given that he
or she planned to visit GH HOTEL

"Vehicles are prohibited on the paths in the park" is used as an example of a law that might require clarification.

Decide whether the law should be interpreted to forbid motorcycles, bicycles, children's pedal cars, and battery-powered remote-control cars. On what grounds are you deciding each of these cases?

Markets generally lead to efficient use and allocation of resources, but sometimes at the cost of equity. Many have observed a trade-off between efficiency and equity, or growth in income and wealth inequality as the economy becomes more efficient.

Bill Gates made the following statement: "Yes, some level of inequality is built into capitalism.... It is inherent to the system. The question is, what level of inequality is acceptable? And when does inequality start doing more harm than good?"

An individual is nearsighted; his near point is 12.0 cm and his far point is 51.0 cm.

(a) What lens power is needed to correct his nearsightedness?

[answer] diopters

(b) When the lenses are in use, what is this person's near point?

[answer] cm

• Assume you are working on budgeting for the room department of your hotel.
• Assume the hotel’s ‘Room Revenue (Sales)’ was $1,640,000 during 2016. Based on the lodging forecast report, you expect the ‘Room Revenue (Sales)’ to increase by 3.7% next year.
• Assume the ‘Guest Supplies’ expenses (variable costs) from the room department was $250,000 during 2016. For 2017, this variable cost will remain at the same percentage of the Room Revenue (Sales) as experienced in 2016.
• Assume the ‘Salaries’ expenses (fixed costs) from the room department was $280,000 during 2016. For 2017, this fixed cost will increase by 2% due to the expected increase in living expenses in this area.

1. What will be the budgeted ‘Room Revenue (Sales)’ for 2017?

2. What will be the budgeted ‘Guest Supplies’ expenses for 2017?

3. What will be the budgeted ‘Salaries’ expenses for 2017?

DO NOT ANSWER IN EXCEL

1. Mangement is considering two hotel projects. Project A will be in Jamaica with an intial investment of $865,000 and Project B will be in Canada with an initial investment of $750,000

The cost of capital for Project A is 13% and the cost of capital for project B is 15%.
Calculate the following;

1. Calculate the discounted payback period of Project A
2. Calculate the discounted payback period of Project B.
3. Calculate the net present value for Project A
4. Calculate the net present value for Project B.

5. Management can only accept one project. Which project should management accept? Explain your answer