Sam's Cat Hotel operates 52 weeks per? year, 5 days per? week, and uses a continuous review inventory system. It purchases kitty litter for ?$11.50 per bag. The following information is available about these bags. Refer to the standard normal table LOADING... for? z-values.

Demand ?= 80 ?bags/week

Order cost? = ?$58?/order

Annual holding cost? = 30 percent of cost

Desired ?cycle-service levelequals90 percent

Lead time? = 2 ?week(s) ?(10 working? days)

Standard deviation of weekly demand? = 16 bags

Current ?on-hand inventory is 310 ?bags, with no open orders or backorders.

a. What is the? EOQ?

?Sam's optimal order quantity is

374 bags. ?(Enter your response rounded to the nearest whole? number.)

What would be the average time between orders? (in weeks)?

The average time between orders is

nothing weeks. ?(Enter your response rounded to one decimal? place.)

b. What should R ?be?

The reorder point is

nothing bags. ?(Enter your response rounded to the nearest whole? number.)

c. An inventory withdrawal of 10 bags was just made. Is it time to? reorder?

d. The store currently uses a lot size of 505 bags? (i.e., Qequals505?). What is the annual holding cost of this? policy?

The annual holding cost is ?$

nothing. ?(Enter your response rounded to two decimal? places.)

What is the annual ordering? cost?

The annual ordering cost is ?$

nothing. ?(Enter your response rounded to two decimal? places.)

Without calculating the? EOQ, how can you conclude from these two calculations that the current lot size is too? large?

A. When Q? = 505?, the annual holding cost is larger than the ordering? cost, therefore Q is too large.

B. Both quantities are appropriate.

C. There is not enough information to determine this.

D. When Q? = 505?, the annual holding cost is less then the ordering? cost, therefore Q is too small.

E. What would be the annual cost saved by shifting from the 505?-bag lot size to the? EOQ?

The annual holding cost with the EOQ is ?$

nothing. ?(Enter your response rounded to two decimal? places.)

The annual ordering cost with the EOQ is ?$

nothing. ?(Enter your response rounded to two decimal? places.)

?Therefore, Sam's Cat Hotel saves ?$

nothing by shifting from the 505?-bag lot size to the EOQ. ?(Enter your response rounded to two decimal? places.)

(5)When you pass an array to a function, the function receives
Group of answer choices

a copy of the array

a reference to the array

the data type of the array and the number of elements it contains

the data type of the array and a pointer to its first element

(6)Which of the following statements is not true about a built-in array?
Group of answer choices

Elements that aren’t initialized will be assigned default values.

Its elements must have the same data type.

The number of elements is fixed.

The number of elements must be set at compile time.

(7)Code Example 12-1
const int size = 6;
int ages[size] { 37, 26, 42, 49, 53, 34 };

(Refer to Code Example 12-1.) What statement would you use to store a pointer to the first element in the built-in array in a variable named ptr?
Group of answer choices

int ptr = ages;

auto ptr = ages;

int ptr = ages.begin();

auto ptr = ages.begin();

(8)Which of the following statements is not true about a two-dimensional array?
Group of answer choices

It can be thought of as a table of rows and columns.

You can’t define and initialize it at the same time.

You use two subscript operators to refer to its elements.

You can use it with C strings if you need to access individual characters.

(9)You may not want to use range-based for loops with built-in arrays because
Group of answer choices

built-in arrays don’t have a size() member function

you don’t typically need to operate on every element in a built-in array

range-based for loops don’t work correctly with built-in arrays that are passed to functions

it’s easier to use a counter with a for loop

23. Susan sells a house built several years ago. The house sells for $304,016, and she pays 5% of the sale price to her real estate agent for the commission fee. How much does this transaction add to GDP?

Enter a number rounded to two decimal places.

24,

The salary John’s grandfather earned in 1962 is a

Group of answer choices

inflation adjusted value.

nominal value.

real value.

cost of living adjusted value.

Part A

Each of the following accounts from The Furst Company has a normal balance as of December 31, 2016, the end of Furst’s first year of operations.

Cash $100                      Common stock                                  $500

Accounts receivable                        300                        Dividends 100

Inventory 250                        Sales revenue 800

Property, plant, and equip 750                        Selling expenses                               300

Accounts payable 150 Administrative expenses 50

Notes payable 400

Directions:

Prepare a trial balance for Furst Company as of December 31, 2016.

Part B

Lampe Distributors was formed to serve as a distributor of fine furnishings imported from overseas manufacturers. Assume the following trial balance was prepared as of December 31, 2016, at the end of Lampe’s first year of operations.

LAMPE DISTRIBUTORS

Unadjusted Trial Balance

December 31, 2016

Debit                     Credit

Cash                                                      $23,000

Accounts receivable 4,500

Buildings 72,000

Equipment 20,500

Inventory 38,000

Accounts payable $5,500

Notes payable                                                                  47,750

Common stock 42,000

Dividends 6,000

Sales revenue 280,250

Wage expense 100,000

Selling expenses 31,000

Rent expense 23,000

Administrative expenses 15,750

Tax expense 23,000

Totals $356,750             $375,500

It is apparent that there is an error somewhere in the company’s accounts since the sum of the debit

account balances ($356,750) does not equal the sum of the credit account balances ($375,500). After

further research, we learn the following:

1. A cash purchase of $20,000 in inventory, occurring near year-end, was not recorded.

2. By mistake, $5,000 that should have been recorded as Accounts Payable was recorded as Notes

Payable.

3. A credit of $26,000 was accidentally recorded in the Wage Expense account rather than in Sales

Revenue.

4. A sale on account of $18,750 was correctly recorded as Sales Revenue, but the other side of the

entry was mistakenly never recorded.

Directions:

a. Which of the four errors, if any, is the reason that the trial balance is not in balance?

b. Which of the errors, if any, must be corrected?

c. Prepare a corrected trial balance.

Caterpillar, Inc., headquartered in Peoria, Illinois, is an American corporation with a worldwide dealer network which sells machinery, engines, financial products and insurance. Caterpillar is the world's leading manufacturer of construction and mining equipments, -diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Although providing financial services through its Financial Products segment, Caterpillar primarily operates through its three product segments of Construction Industries, Resource Industries, and Energy & Transportation. Founded in 1925, the company presently has sales and revenues of $55.2 billion, total assets of $78.5 billion, and 114,000 employees. Caterpillar machinery are commonly recognized by its trademark “Caterpillar Yellow” and it's “CAT” logo. Some of its manufactured construction products include: mini excavators, small-wheel loaders, backhoe loaders, multi-terrain loaders, and compact-wheel loaders. Other products include: machinery in mining and quarrying applications, reciprocating engines and turbines in power systems, the remanufacturing of CAT engines and components, and a wide range of financial alternatives to customers and dealers for Caterpillar machinery and engines.

Caterpillar tractors have undertaken and completed many difficult tasks since the company's beginning. In the late 1920s, the Soviet Grain Trust purchased 2,050 Caterpillar machines for use on its large farm cooperatives. This sale helped to keep Caterpillar's factories busy during the Great Depression. In the 1930s, Caterpillar track-type tractors helped construct the Hoover Dam, worked on the Mississippi Levee construction project, helped construct the Golden Gate Bridge, and were used in the construction of the Chesapeake & Delaware Canal. During this time period, CATs were also used in construction projects around the world in countries such as Palestine, Iraq, India, Canada, the Netherlands, Belgium and the building of the Pan American Highway. In World War II, Caterpillar built 51,000 track-type tractors for the U.S. military.

In the 1940s, Caterpillar tractors were used in the construction of the Alaskan highway; and between 1944 and 1956, they were used to help construct 70,000 miles of highway in the United States. In the 1950s and 60s, usage of Caterpillar tractors around the world exploded and were used in such countries as Australia, Austria, Ceylon, France, Germany, Italy, Nigeria, Philippines, Rhodesia, Russia, Sweden, Switzerland, Uganda, and Venezuela, in a wide variety of projects. In addition, Caterpillar products were used to help construct the St. Lawrence Seaway between Canada and the United States. In the 1970s and 80s, Caterpillar equipment were used in numerous dam, power, and pipeline projects. Since then, Caterpillars have been used in the construction of several projects such as Japan's Kansai International Airport as a marine airport approximately three miles offshore in Osaka Bay, the Chunnel between France and England, the “Big Dig” in Boston, Panama Canal expansion, and several Olympic Games sites.

Discussion

1. The United States Department of Agriculture (USDA), in conjunction with the Forest Service, publishes information to assist companies in estimating the cost of building a temporary road for such activities as a timber sale. Such roads are generally built for one or two seasons of use for limited traffic and are designed with the goal of reestablishing vegetative cover on the roadway and adjacent disturbed area within ten years after the termination of the contract, permit, or lease. The timber sale contract requires out sloping, removal of culverts and ditches, and building water bars or cross ditches after the road is no longer needed. As part of this estimation process, the company needs to estimate haul costs. The USDA publishes variable costs in dollars per cubic-yard-mile of hauling dirt according to the speed with which the vehicle can drive. Speeds are mainly determined by the road width, the sight distance, the grade, the curves and the turnouts. Thus, on a steep, narrow, winding road, the speed is slow; and on a flat, straight, wide road, the speed is faster. Shown below are data on speed, cost per cubic yard for a 12 cubic yard end-dump vehicle, and cost per cubic yard for a 20 cubic yard bottom-dump vehicle. Use these data and simple regression analysis to develop models for predicting the haul cost by speed for each of these two vehicles. Discuss the strength of the models. Based on the models, predict the haul cost for 35 mph and for 45 mph for each of these vehicles.

Facts of case
Knight is the owner of Armour Heights Subdivision. On September 1, he offered in
writing to sell Lot #3 in the subdivision to Archer for $15,000; on September 2, Archer accepted the offer in writing and delivered her acceptance in person to Knight.

On September 4, Knight telephoned Archer to say that he had just learned that a shopping center was going to be built in the subdivision near Lot #3 and that he now wanted to have $22,000 for each of the lots, including Lot #3. Archer, equally excited about the news, agreed to change the price stated in the written contract from $15,000 to $22,000 and wrote her initials on the date opposite the change on both copies of the contract.

Later, Archer tendered a cheque for $15,000 "in full settlement of the amount owing for Lot #3 per our agreement of September 2." Knight deposited the cheque and sued Archer for an alleged $7,000 balance owing.

a. Identify two legal issues to be found in the facts of this case by stating each of them in the form of a question.

b. Name and then state the legal tests that apply to each of the legal issues you have identified. (4 marks – 2 for each)

c. Make an argument for the Plaintiff (1 mark)

d. Make an argument for the Defendant (1 mark)

Agriculture near Lake Okeechobee focuses heavily on sugar cane fields and citrus groves. These crops require supplemental fertilizer, such as nitrates and phosphates, to be added to the soil. Many farms apply a set amount of fertilizer. Any leftover fertilizer that was not absorbed into the soil or used by the plants is washed away by rainwater into streams that flow from Lake Okeechobee to the Everglades. Some farms are testing variable fertilization, which involves testing the soil and then adding only the required amount of fertilizer. You have been provided with data on nitrate levels (ug/L) in streams near farms from two years: 2014 (when the farms were using a set amount of fertilizer) and 2017 (after the farm switched to the variable fertilizer method). For both years, sampling was conducted by collecting water samples from 35 streams near these farms. Based on observations of water in streams near these farms during 2014 and 2017, we could ask the following question: Has the nitrate level (ug/L) in streams near farms changed with the adoption of variable fertilization methods?

1. For the study above, identify the following: (4 points)

a. Population: The average nitrate levels on all the streams near farms.

b. Sample: The average nitrate levels on 35 streams that were sampled.

c. Parameter:

d. Statistics:

2. For the study above, identify the following: (3 points)

a. Dependent Variable

b. Independent Variable

c. Is the independent variable categorical or numerical?

3. Write a null, two-tailed alternative, and one-tailed alternative statistical hypothesis for this study. (3 Points)

308 Chapter 11 CASE STUDYCase stUDYCollege and professional sports are economy boosters for their host cities. The stream of revenue to the local economy generated by excited fans comes from the sale of tickets, hotel room rentals, car rentals, restaurant meals served, gasoline sales, park-ing fees, and vendor sales. The sales become even greater when a team is winning.Cities such as Lincoln, Nebraska; Columbus, Ohio; Tallahassee, Florida; and Baton Rouge, Louisiana count on the revenue generated by sell-out crowds during the college football season. Stadiums that hold from 82,000 to 102,000 fans provide an eco-nomic windfall for the college com-munities where they are located.Some fans of professional sports teams, such as the Chicago Cubs and Green Bay Packers, are loyal no mat-ter how well their team is performing. These faithful fans provide a steady flow of revenue to the sports program and surrounding communities.College World Series Wars?Cities that host major sporting events understand the financial benefits. Omaha, Nebraska, appreciates the millions of dollars poured into the city during the annual College World Series. Zesto’s, a popular fast-food restaurant, has truckloads of food rolling in each day to meet the demands of customers from all over the United States.The event has been voted the Best Annual Local Event and ranks as the third-most important state tourist attraction, according to a survey conducted by Omaha Magazine. The revenue from this two-week event has attracted the attention of other cities, such as Oklahoma City, that would like the opportunity to host the event in the future. Economic experts estimate that the College World Series generates more than $40 million for the Omaha economy. It is no wonder that other cities would like to host thisevent.Omaha tore down Rosenblatt Stadium, the former home of the College World Series, to build the new $131-million TD Ameritrade Park Omaha that has 24,505 seats. Omaha must continue to demonstrate top-notch hospitality so that the College World Series event planners continue to choose Omaha as its host city.Think Critically

1. Why is it important for Omaha to continue hosting the College World Series? Consider both financial and nonfinancial benefits.

2. What are some of the greatest sources of revenue for cities that are home to popular college and professional sports teams?

3. How can hosting a major event like the College World Series help a city develop a national image? Explain your answer.

4. List ten good food items for ven-dors to sell at the College World Series

Forecasting labour costs is a key aspect of hotel revenue management that enables hoteliers to appropriately allocate hotel resources and fix pricing strategies. Mary, the President of Hellenic Hoteliers Federation (HHF) is interested in investigating how labour costs (variable L_COST) relate to the number of rooms in a hotel (variable Total_Rooms). Suppose that HHF has hired you as a business analyst to develop a linear model to predict hotel labour costs based on the total number of rooms per hotel using the data provided. 3.1 Use the least squares method to estimate the regression coefficients b0 and b1 3.2 State the regression equation 3.3 Plot on the same graph, the scatter diagram and the regression line 3.4 Give the interpretation of the regression coefficients b0 and b1 as well as the result of the t-test on the individual variables (assume a significance level of 5%) 3.5 Determine the correlation coefficient of the two variables and provide an interpretation of its meaning in the context of this problem 3.6 Check statistically, at the 0.05 level of significance whether there is any evidence of a linear relationship between labour cost and total number of rooms per hotel

TR=TOTAL ROOMS, L COST =LABOUR COST

TR L_COST       Turnover_per_Room
412       2,165,000       21,519.42
313       2,214,985       21,755.04
265       1,393,550       17,937.91
204       2,460,634       37,400.05
172       1,151,600       31,824.30
133       801,469 19,444.46
127       1,072,000       22,551.18
322       1,608,013       18,205.04
241       793,009 8,793.00
172       1,383,854       25,114.16
121       494,566       14,095.35
70       437,684       22,231.59
65       83,000 5,953.85
93       626,000       18,150.99
75       37,735       3,871.67
69       256,658       11,071.70
66       230,000       8,030.30
54       200,000       10,185.19
68       199,000      
57       11,720       2,982.46
38       59,200       6,342.11
27       130,000       25,185.19
47       255,020       18,223.26
32       3,500 1,000.00
27       20,906 2,384.85
48       284,569       14,264.58
39       107,447       10,478.26
35       64,702       10,811.29
23       6,500 3,478.26
25       156,316       22,231.56
10       15,950       8,150.00
18       722,069       81,556.71
17       6,121 2,151.88
29       30,000       4,068.97
21       5,700 4,142.86
23       50,237       5,113.83
15       19,670       10,037.87
8       7,888 4,849.25
20 3,750.00
11 1,753.91
15       3,500 2,666.67
18       112,181       34,260.90
23              
10       30,000 12,000.00
26       3,575 3,001.81
306       2,074,000       19,803.92
240       1,312,601       15,823.58
330       434,237       4,361.65
139       495,000       17,050.36
353       1,511,457       15,370.22
324       1,800,000       15,432.10
276       2,050,000       22,101.45
221       623,117       9,199.82
200       796,026       18,158.06
117       360,000       11,649.57
170       538,848       10,294.08
122       568,536       17,510.12
57       300,000       15,614.04
62       249,205       9,623.61
98       150,000       6,326.53
75       220,000       6,666.67
62       50,302       2,058.19
50       517,729       20,000.00
27       51,000       16,666.67
44       75,704       7,118.52
33       271,724       40,499.76
25       118,049       9,664.80
42              
30       40,000       4,833.33
44 522.73
10       10,000       7,300.00
18       10,000       5,555.56
18 1,338.22
73       70,000       4,958.90
21       12,000       6,904.76
22       20,000       3,636.36
25       36,277       1,489.72
25       36,277       1,489.72
31       10,450       2,348.39
16       14,300       5,000.00
15       4,296       732.00
12 1,083.33
11 2,000.00
16       379,498      
22       1,520 673.36
12       45,000       58,333.33
34       96,619       18,817.53
37       270,000       21,621.62
25       60,000 10,000.00
10       12,500 9,000.00
270       1,934,820       27,977.57
261       3,000,000       36,781.61
219       1,675,995       17,559.77
280       903,000 15,907.14
378       2,429,367       16,666.67
181       1,143,850       22,352.93
166       900,000 20,180.72
119       600,000       31,932.77
174       2,500,000       32,628.43
124       1,103,939       17,559.77
112       363,825 8,054.72
227       1,538,000       16,173.81
161       1,370,968       23,161.53
216       1,339,903       12,503.53
102       173,481       6,795.40
96       210,000       15,833.33
97       441,737       11,759.43
56       96,000       8,000.00
72       177,833       7,501.82
62       252,390       25,266.45
78       377,182       17,409.35
74       111,000       9,891.89
33       238,000       23,848.48
30       45,000       5,919.30
39       50,000       3,846.15
32       40,000       6,250.00
25       61,766       4,237.28
41       166,903       25,266.46
24       116,056       17,409.33
49       41,000       5,102.04
43       195,821       11,759.42
9              
20       96,713       17,409.35
32       6,500       2,953.13
14       5,500       2,500.00
14       4,000       4,285.71
13       15,000       2,307.69
13       9,500       1,538.46
53       48,200       3,528.30
11       3,000       10,909.09
16       27,084       3,652.44
21       30,000       2,380.95
21       20,000       2,380.95
46       43,549       1,314.04
21       10,000       952.38