9.125 May 09 100.09375 100.12500 … ‐2.15
Why would anyone buy this Treasury bond with a negative yield to maturity? How is this possible?
In: Finance
Compute and Interpret Z-score
Balance sheets and income statements for Lockheed Martin
Corporation follow. Refer to these financial statements to answer
the requirements.
| Income Statement | |||
|---|---|---|---|
| Year Ended December 31 (In millions) | 2005 | 2004 | 2003 |
| Net sales | |||
| Products | $ 31,518 | $ 30,202 | $ 27,290 |
| Service | 5,695 | 5,324 | 4,534 |
| 37,213 | 35,526 | 31,824 | |
| Cost of sales | |||
| Products | 27,932 | 27,637 | 25,306 |
| Service | 5,073 | 4,765 | 4,099 |
| Unallocated coporate costs | 803 | 914 | 443 |
| 33,808 | 33,316 | 29,848 | |
| 3,405 | 2,210 | 1,976 | |
| Other income (expenses), net | (449) | (121) | 43 |
| Operating profit | 2,956 | 2,089 | 2,019 |
| Interest expense | 370 | 425 | 487 |
| Earnings before taxes | 2,586 | 1,664 | 1,532 |
| Income tax expense | 761 | 368 | 479 |
| Net earnings | $ 1,825 | $ 1,296 | $ 1,053 |
| Balance Sheet | ||
|---|---|---|
| December 31 (In millions) | 2005 | 2004 |
| Assets | ||
| Cash and cash equivalents | $ 2,144 | $ 1,080 |
| Short-term investments | 429 | 396 |
| Receivables | 4,579 | 4,094 |
| Inventories | 1,921 | 1,864 |
| Deferred income taxes | 861 | 982 |
| Other current assets | 495 | 557 |
| Total current assets | 10,409 | 8,973 |
| Property, plant and equipment, net | 3,924 | 3,599 |
| Investments in equity securities | 196 | 812 |
| Goodwill | 8,447 | 7,892 |
| Purchased intangibles, net | 560 | 672 |
| Prepaid pension asset | 1,360 | 1,030 |
| Other assets | 2,728 | 2,596 |
| Total assets | $ 27,624 | $ 25,574 |
| Liabilities and stockholders' equity | ||
| Accounts payable | $ 1,998 | $ 1,726 |
| Customer advances and amounts in excess of costs incurred | 4,331 | 4,028 |
| Salaries, benefits and payroll taxes | 1,475 | 1,346 |
| Current maturities of long-term debt | 202 | 15 |
| Other current liabilities | 1,422 | 1,451 |
| Total current liabilities | 9,428 | 8,566 |
| Long-term debt | 4,944 | 5,184 |
| Accrued pension liabilities | 1,617 | 1,760 |
| Other postretirement benefit liabilities | 1,277 | 1,236 |
| Other liabilities | 2,491 | 1,807 |
| Stockholders' equity | ||
| Common stock, $1 par value per share | 432 | 438 |
| Additional paid-in capital | 1,724 | 2,223 |
| Retained earnings | 7,278 | 5,915 |
| Accumulated other comprehensive loss | (1,553) | (1,532) |
| Other | (14) | (23) |
| Total stockholders' equity | 7,867 | 7,021 |
| Total liabilities and stockholders' equity | $ 27,624 | $ 25,574 |
| Consolidated Statement of Cash Flows | |||
|---|---|---|---|
| Year Ended December 31 (In millions) | 2005 | 2004 | 2003 |
| Operating Activities | |||
| Net earnings | $ 1,825 | $ 1,266 | $ 1,053 |
| Adjustments to reconcile net earnings to net cash provided by operating activities | |||
| Depreciation and amortization | 555 | 511 | 480 |
| Amortization of purchased intangibles | 150 | 145 | 129 |
| Deferred federal income taxes | 24 | (58) | 467 |
| Changes in operating assets and liabilities: | |||
| Receivables | (390) | (87) | (258) |
| Inventories | (39) | 519 | (94) |
| Accounts payable | 239 | 288 | 330 |
| Customer advances and amounts in excess of costs incurred | 296 | (228) | (285) |
| Other | 534 | 568 | (13) |
| Net cash provided by operating activities | 3,194 | 2,924 | 1,809 |
| Investing Activities | |||
| Expenditures for property, plant and equipment | (865) | (769) | (687) |
| Acquisition of business/investments in affiliated companies | (784) | (91) | (821) |
| Proceeds from divestiture of businesses/Investments in affiliated companies | 935 | 279 | 234 |
| Purchase of short-term investments, net | (33) | (156) | (240) |
| Other | 28 | 29 | 53 |
| Net cash used for investing activities | (719) | (708) | (1,461) |
| Financing Activities | |||
| repayment of long-term debt | (53) | (1,069) | (2,202) |
| Issuances of long-term debt | -- | -- | 1,000 |
| Long-term debt repayment and issuance costs | (12) | (163) | (175) |
| Issuances of common stock | 406 | 164 | 44 |
| Repurchases of common stock | (1,310) | (673) | (482) |
| Common stock dividends | (462) | (405) | (261) |
| Net cash used for financing activities | (1,431) | (2,146) | (2,076) |
| Net increase (decrease) in cash and cash equivalents | 1,044 | 70 | (1,728) |
| Cash and cash equivalents at beginning of year | 1,080 | 1,010 | 2,738 |
| Cash and cash equivalents at end of year | $ 2,124 | $ 1,080 | $ 1,010 |
As of December 31, there were the approximate shares
outstanding:
2005 - 434,264,432
2004 - 440,445,630
As of December 31, the company's stock closed at the following
values:
2005 - $63.63
2004 - $55.55
(a) Compute and compare the Altman Z-scores for both years. (Do not
round until your final answer; then round your answers to two
decimal places.)
2005 z-score = Answer
2004 z-score = Answer
In: Accounting
Use the following information to work Problem1 a) and b).
Why the tepid response to higher gasoline prices?
Most studies report that when U.S. gas prices rise by 10 percent, the quantity purchased falls by 1 to 2 percent. In September 2005, the retail gasoline price was $2.90 a gallon, about $1.00 higher than in September 2004, but purchases of gasoline fell by only 3.5 percent.
Source: The New York Times, October 13, 2005
1. (2 points) Calculate the price elasticity of demand for gasoline implied by what most studies have found.
2. (2 points) Compare the elasticity implied by the data for the period from September 2004 to September 2005 with that implied by most studies. What might explain the difference?
In: Economics
Twelve-hour shifts are problematic for patient and nurse safety, yet hospitals continue to keep the 12-hour shift schedule. In 2004, the Institute of Medicine (Board on Health Care Services & Institute of Medicine, 2004) published a report that referred to studies as early as 1988 that discussed the negative effects of rotating shifts on intervention accuracy. Workers with 12-hour shifts experienced more fatigue than workers on 8-hour shifts. In another study done in Turkey by Ilhan, Durukan, Aras, Turkcuoglu, and Aygun (2006), factors relating to increased risk for injury were age of 24 years or younger, less than 4 years of nursing experience, working in surgical intensive care units, and working for more than 8 hours. As a clinician reading these studies, what would your next step be?
In: Nursing
R code:
## 2. __Basic dplyr exercises__
## Install the package `fueleconomy` and load the dataset
`vehicles`. Answer the following questions.
install.packages("fueleconomy")
library(fueleconomy)
library(dplyr)
library(tidyr)
data(vehicles)
e. Finally, for the years 1994, 1999, 2004, 2009, and 2014, find the average city mpg of midsize cars for each manufacturer for each year. Use tidyr to transform the resulting output so each manufacturer has one row, and five columns (a column for each year). I have included sample output for the first two rows.
Output should like :
# make 1994 1999 2004 2009 2014
# 1 Acura NA 16.50000 17.33333 17.00000 20.60000
# 2 Audi NA 15.25000 16.20000 15.83333 19.08333
In: Statistics and Probability
The polling organization Ipsos conducted telephone surveys in March of 2004, 2005 and 2006. In each year, 1001 people age 18 or older were asked about whether they planned to use a credit card to pay federal income taxes that year. The data are given in the accompanying table. Is there evidence that the proportion falling in the three credit card response categories is not the same for all three years? Test the relevant hypotheses using a .05 significance level. (Use 2 decimal places.)
| Intent to Pay Taxes with a Credit Card | |||
| 2004 | 2005 | 2006 | |
| Definitely/Probably Will Might/Might Not/Probably Not Definitely Not |
42 163 782 |
45 180 777 |
42 190 780 |
χ2 =
P-value interval
p < 0.0010.001 ≤ p < 0.01 0.01 ≤ p < 0.050.05 ≤ p < 0.10p ≥ 0.10
In: Math
On July 1, 2019, the Morgan County School District received a
$69,000 gift from a local civic organization with the stipulation
that, on June 30 of each year, $5,400 plus any interest earnings on
the unspent principal be awarded as a college scholarship to the
high school graduate with the highest academic average. A
private-purpose trust fund, the Civic Scholarship Fund, was
created.
Required:
a. Record the above transactions on the books of the Civic
Scholarship Fund.
b. Prepare a Statement of Changes in Fiduciary Net
Position for the Civic Scholarship Fund for the year ended June 30,
2020.
Requirement 1:
On July 1, 2019, the gift was received and immediately invested. Record the entry for receipt of the cash gift.
On July 1, 2019, the gift was received and immediately invested. Record the entry for the investment of the cash gift.
On June 30, 2020, $5,400 of the principal was converted into cash. In addition, $4,400 of interest was received.
On June 30, the $9,800 was awarded to a student who had maintained a 4.0 grade point average throughout each of her four years.
The nominal accounts were closed.
Requirement 2:
Prepare a Statement of Changes in Fiduciary Net Position for the Civic Scholarship Fund for the year ended June 30, 2020.
|
||||||||||||||||||||||||||||||
In: Accounting
You are a supervisor at your organization. A Critical Incident has occurred, and you are required to learn more about it. The incident will impact both you and your team of employees. As the supervisor, you will be expected to lead your team through the situation. Get ready, put your supervisor hat on, and get started. Research to find an article or articles on the topic Significant Changes in Work Schedules. The article(s) should be based on a real-world event or based on best practice or academic research. The preferenceis for students to find a real-world event. Include all articles in full form (not links) in the appendix section of your report. The report is to include the following: a.Introduction SectionoProvide a complete overview of the entire report. The introduction section should clearly state the subject matter of the report, and it should explain the methods used to gather data. In explaining the methods, indicate what kinds of primary and secondary research was used in the paper. The introduction is to include a brief statement of the paper's findings and conclusions. b.Report Content SectionsoDescribe the situation or topic in detail. Use 5W+H (Who, What, Why, When, Where, How)oWhat must the supervisor to do to handle the situation or event?oDescribe the short and longer-term impact(s) of the situation/topic on the role ofthe supervisor and his/her employees. Explain how these impacts may change 2 the role of the supervisor. Do you view the changes to the role of the supervisor as easy, mid-range or difficult?oWhat help might the supervisor need to support the required changes and from whom?oProvide recommendations on what supervisory practices, policies, procedures, structure, etc. may need to change. c.Summary SectionoSummarize the report.oIdentify the conclusions you have drawn from your research.d.References and AppendixoFollow APA @ Conestoga for citing and referencing.oInclude Appendix for full form copy of all articles used in research.
In: Economics
The assumption that a system will operate in a stable environment without risk is not realistic (Sales et al., 2018). Risk is widely classified into disruption and operational risks (Kleindorfer & Saad, 2005; Tang, 2006). Extreme uncertainty and the absence of synchronization between supply and demand are linked to operational risks while circumstances such as labor strikes, terrorist attacks, and natural calamities are related to disruption risks (Lockamy & McCormack, 2010). The probability of human injury or even death is high in disruptions such as multi-casualty disasters which brings about the challenge of increased pressure on healthcare. Healthcare institutions are required to become capable of understanding and adapting to environmental changes to mitigate such unexpected changes. These unexpected changes can affect the competitiveness, responsiveness and operating procedures of a firm significantly (Huang, Yen, & Liu, 2014), and for healthcare institutions, the economic well-being and reputation of the nation as well.
There is a growing need for healthcare institutions to develop responsiveness (Tolf, Nyström, Tishelman, Brommels, & Hansson, 2015; Vissers, Bertrand, & De Vries, 2001). However, the responsiveness of healthcare systems remains a complex, distinct and still not adequately investigated concept (Brinkerhoff & Bossert, 2013; Cleary, Molyneux, & Gilson, 2013; Gilson, Palmer, & Schneider, 2005; Siddiqi et al., 2009). Responsive healthcare systems anticipate and adjust to meet evolving requirements, exploiting opportunities to enhance access to effective interventions and to enhance health services (Hanefeld, Powell-Jackson, & Balabanova, 2017; Lodenstein, Dieleman, Gerretsen, & Broerse, 2013), ultimately resulting in improvements in outcomes of healthcare (Allotey, Davey, & Reidpath, 2014; Smith, Mossialos, Papanicolas, & Leatherman, 2009). A better understanding of healthcare responsiveness is particularly important for many nations with low and medium incomes such as Ghana, where economic and social development is rapidly advancing.
Nevertheless, responsiveness always implies that a flexible central system exists (More & Babu, 2008). Flexibility is required to respond quickly to the rapidly changing unique patient needs and demands (Aronsson, Abrahamsson, & Spens, 2011; Peltokorpi, Torkki, & Lillrank, 2011). Flexibility remains an expensive and challenging capability to develop and incorporate in any system completely. Identifying the right flexibility capabilities to develop can efficiently improve responsiveness to meet changing needs and demands of healthcare patients (Aronsson et al., 2011; Peltokorpi et al., 2011). Moreover, flexible scheduling and resources can help healthcare institutions respond more effectively to their patients by better matching the variable demand for care with the supply of physical resources such as beds, pharmaceutical, people and space required (Chen, Zhou, Ma, & Pham, 2011; Laker, Froehle, Lindsell, & Ward, 2014). Researchers have asserted that flexibility can be proactively employed as well to create a competitive advantage for a business (Chang, Yang, Cheng, & Sheu, 2003; Ettlie & Penner-Hahn, 2008; D. M. Upton, 2008). Profitable flexibility applications have been demonstrated in various ways: by the National Bicycle Industrial Company (Moffat, 1990), and by the General Motors ' Lordstown factory experiment (Kasarda and Rondinelli, 1998). Flexibility is clearly of the utmost significance (J. H. M. Manders, Caniëls, & Ghijsen, 2017) to the responsiveness of healthcare institutions, the economy, patient satisfaction and yet significant amount of existing literature focuses on the manufacturing sector (Chang, Chen, Lin, Tien, & Sheu, 2006; Jack & Raturi, 2002; Koste, Malhotra, & Sharma, 2004), with little or no attention to the service sector..
However, understanding the impact of specific flexibility capabilities and their application is critical to organizations as flexibility is expensive to implement; hence any investment in flexibility based on wrongly considered competences might be (Gerwin, 2008; Narasimhan, Talluri, & Das, 2004). There is also a paucity of studies concerning flexibility capabilities relating to operations of healthcare institutions. The quality of care and satisfaction with health facilities have been seen in most research as the perfect measure of assessing health systems performance. However, the WHO suggests responsiveness as a better measure of the performance of health systems (NB Valentine et al., 2003). Healthcare institutions are challenged by many sources of uncertainty in the supply chain and at an operational level. Though supply chain and operations flexibilities have the potential to promote the resilience and responsiveness of healthcare institutions, the scarcity of the literature in this respect makes this study worthwhile. As a result of limited literature at present, little knowledge exists on the extent to which supply chain and operations flexibilities individually promote responsiveness, or impact customer satisfaction, particularly within the service sector in Ghana.
Required:
In: Operations Management
The assumption that a system will operate in a stable environment without risk is not realistic (Sales et al., 2018). Risk is widely classified into disruption and operational risks (Kleindorfer & Saad, 2005; Tang, 2006). Extreme uncertainty and the absence of synchronization between supply and demand are linked to operational risks while circumstances such as labor strikes, terrorist attacks, and natural calamities are related to disruption risks (Lockamy & McCormack, 2010). The probability of human injury or even death is high in disruptions such as multi-casualty disasters which brings about the challenge of increased pressure on healthcare. Healthcare institutions are required to become capable of understanding and adapting to environmental changes to mitigate such unexpected changes. These unexpected changes can affect the competitiveness, responsiveness and operating procedures of a firm significantly (Huang, Yen, & Liu, 2014), and for healthcare institutions, the economic well-being and reputation of the nation as well.
There is a growing need for healthcare institutions to develop responsiveness (Tolf, Nyström, Tishelman, Brommels, & Hansson, 2015; Vissers, Bertrand, & De Vries, 2001). However, the responsiveness of healthcare systems remains a complex, distinct and still not adequately investigated concept (Brinkerhoff & Bossert, 2013; Cleary, Molyneux, & Gilson, 2013; Gilson, Palmer, & Schneider, 2005; Siddiqi et al., 2009). Responsive healthcare systems anticipate and adjust to meet evolving requirements, exploiting opportunities to enhance access to effective interventions and to enhance health services (Hanefeld, Powell-Jackson, & Balabanova, 2017; Lodenstein, Dieleman, Gerretsen, & Broerse, 2013), ultimately resulting in improvements in outcomes of healthcare (Allotey, Davey, & Reidpath, 2014; Smith, Mossialos, Papanicolas, & Leatherman, 2009). A better understanding of healthcare responsiveness is particularly important for many nations with low and medium incomes such as Ghana, where economic and social development is rapidly advancing.
Nevertheless, responsiveness always implies that a flexible central system exists (More & Babu, 2008). Flexibility is required to respond quickly to the rapidly changing unique patient needs and demands (Aronsson, Abrahamsson, & Spens, 2011; Peltokorpi, Torkki, & Lillrank, 2011). Flexibility remains an expensive and challenging capability to develop and incorporate in any system completely. Identifying the right flexibility capabilities to develop can efficiently improve responsiveness to meet changing needs and demands of healthcare patients (Aronsson et al., 2011; Peltokorpi et al., 2011). Moreover, flexible scheduling and resources can help healthcare institutions respond more effectively to their patients by better matching the variable demand for care with the supply of physical resources such as beds, pharmaceutical, people and space required (Chen, Zhou, Ma, & Pham, 2011; Laker, Froehle, Lindsell, & Ward, 2014). Researchers have asserted that flexibility can be proactively employed as well to create a competitive advantage for a business (Chang, Yang, Cheng, & Sheu, 2003; Ettlie & Penner-Hahn, 2008; D. M. Upton, 2008). Profitable flexibility applications have been demonstrated in various ways: by the National Bicycle Industrial Company (Moffat, 1990), and by the General Motors ' Lordstown factory experiment (Kasarda and Rondinelli, 1998). Flexibility is clearly of the utmost significance (J. H. M. Manders, Caniëls, & Ghijsen, 2017) to the responsiveness of healthcare institutions, the economy, patient satisfaction and yet significant amount of existing literature focuses on the manufacturing sector (Chang, Chen, Lin, Tien, & Sheu, 2006; Jack & Raturi, 2002; Koste, Malhotra, & Sharma, 2004), with little or no attention to the service sector..
However, understanding the impact of specific flexibility capabilities and their application is critical to organizations as flexibility is expensive to implement; hence any investment in flexibility based on wrongly considered competences might be (Gerwin, 2008; Narasimhan, Talluri, & Das, 2004). There is also a paucity of studies concerning flexibility capabilities relating to operations of healthcare institutions. The quality of care and satisfaction with health facilities have been seen in most research as the perfect measure of assessing health systems performance. However, the WHO suggests responsiveness as a better measure of the performance of health systems (NB Valentine et al., 2003). Healthcare institutions are challenged by many sources of uncertainty in the supply chain and at an operational level. Though supply chain and operations flexibilities have the potential to promote the resilience and responsiveness of healthcare institutions, the scarcity of the literature in this respect makes this study worthwhile. As a result of limited literature at present, little knowledge exists on the extent to which supply chain and operations flexibilities individually promote responsiveness, or impact customer satisfaction, particularly within the service sector in Ghana.
Required:
In: Economics