(a) The price elasticity of demand for smoke grinders in response to changes in the price of purpletts is -2. What formula and concept will we use to study the change in quantity demanded of smoke grinders to a change in price of purpletts? What the -2 elasticity of demand tells us about the goods purpletts and smoke grinders? (b) Given the table below, answer the following question. The quantity demanded of which good decreases the most during a recession (when incomes decrease)?

Given the table below ( income elasticity of demand), answer the following question.

Total brand cereal = 0.3, eclipse galsses = -1.5, office chairs = 0, theater tickets = 4, heart shaped pillows = 2

The quantity demanded of which good decreases the most during a recession (when incomes decrease)?

Tombro Industries is in the process of automating one of its plants and developing a flexible manufacturing system. The company is finding it necessary to make many changes in operating procedures. Progress has been slow, particularly in trying to develop new performance measures for the factory.

In an effort to evaluate performance and determine where improvements can be made, management has gathered the following data relating to activities over the last four months:

The president has read in industry journals that throughput time, MCE, and delivery cycle time are important measures of performance, but no one is sure how they are computed. You have been asked to assist the company, and you have gathered the following data relating to these measures:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the manufacturing cycle efficiency (MCE) for each month.

1-c. Compute the delivery cycle time for each month.

3-a. Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using Lean Production. Compute the new throughput time and MCE.

3-b. Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 6 the inspection time, process time, and so forth, are the same as in month 4, except that the company is able to eliminate both the queue time during production and the inspection time using Lean Production. Compute the new throughput time and MCE.

Five years ago, a company was considering the purchase of 62 new diesel trucks that were 15.23% more fuel-efficient than the ones the firm is now using. The company uses an average of 10 million gallons of diesel fuel per year at a price of $1.25 per gallon. If the company manages to save on fuel costs, it will save $1.875 million per year (1.5 million gallons at $1.25 per gallon). On this basis, fuel efficiency would save more money as the price of diesel fuel rises (at $1.35 per gallon, the firm would save $2.025 million in total if he buys the new trucks).

Consider two possible forecasts, each of which has an equal chance of being realized. Under assumption #1, diesel prices will stay relatively low; under assumption #2, diesel prices will rise considerably. The 62 new trucks will cost the firm $5 million. Depreciation will be 25.17% in year 1, 38.07% in year 2, and 36.4% in year 3. The firm is in a 40% income tax bracket and uses a 11% cost of capital for cash flow valuation purposes. Interest on debt is ignored. In addition, consider the following forecasts:

Forecast for assumption #1 (low fuel prices):

Required: Calculate the percentage change on the basis that an increase would take place from the NPV under assumption #1 to the probability-weighted (expected) NPV.

Further Information (solution steps):

• Step (1): Calculate the annual expected price of diesel per gallon under each assumption, based on the probabilities outlined in the inputs section.

• Step (2): Using the annual expected fuel prices calculated in step (1), determine the increase in annual savings created by the proposed efficiency for each assumption.

• Step (3): Find the increased cash flow after taxes (CFAT) for both forecasts, based on the annual increase in fuel savings determined in step (2) as the increase in earnings before depreciation and taxes (EBDT), and the starting point from which profit is calculated for each assumption. As part of this step, you must establish annual depreciation (remember: depreciation is a noncash charge).

• Step (4): Considering the increased annual CFAT produced in step (3), calculate the NPV of the truck purchases for each assumption, based on the discount rate (cost of capital) indicated in the inputs section

• Step (5): In view of the outcomes produced in step (4), estimate the combined NPV weighed by the probability of each assumption.

• Step (6): Finally, calculate the percentage difference hypothesizing that an increase took place starting from the NPV for assumption #1 to the combined NPV worked out in step (5).

HR Industries (HRI) has a beta of 1.5, while LR Industries's (LRI) beta is 0.7. The risk-free rate is 6%, and the required rate of return on an average stock is 13%. The expected rate of inflation built into r_RF falls by 1.5 percentage points; the real risk-free rate remains constant; the required return on the market falls to 10.5%; and all betas remain constant. After all of these changes, what will be the difference in the required returns for HRI and LRI? Round your answer to two decimal places.

% ----

A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unit of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods.

(a) Find the total output of goods needed to satisfy a consumer demand for $120 million worth of agricultural products and $170 million worth of manufactured goods. (Round your answers to one decimal place.)

answer is wrong

(b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.)

A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.3 unit of manufactured goods. The production of 1 unit of manufactured goods requires the consumption of 0.4 unit of agricultural products and 0.3 unit of manufactured goods. (a) Find the total output of goods needed to satisfy a consumer demand for $100 million worth of agricultural products and $160 million worth of manufactured goods. (Round your answers to one decimal place.) agricultural products $ million manufactured goods $ million (b) Find the value of the goods consumed in the internal process of production in order to meet the gross output. (Round your answers to one decimal place.) agricultural products $ million manufactured goods $ million

The COVID-19 pandemic has caused many retailers to shut down their business, layoff their employees, and drain their bank accounts.

While some federal funding will help these businesses stay afloat, many will have to adjust to new ways of operation once the quarantines are lifted.

Several ways can be used to reframe a retailer’s business model. Form reconfiguration; Time reconfiguring; Place reconfiguring; Possession reconfiguring. Using at least three of these methods of reframing, describe how a retailer of your choice will adjust its business model to be successful in reopening.

Choose a specific retailer from one of these categories:
Theme Park; Salon; Hotel; Beauty Supply Store; Sports Bar

Rewrite the grade program from Question 2.2 using a user-defined function called computegrade that takes a score as its parameter and returns a grade as a string. (15 points) USING PYTHON LANGUAGE

>= 0.9   A
>= 0.8   B
>= 0.7   C
>= 0.6   D
<  0.6   F

Run the program repeatedly as shown below to test the various different values for input.

Enter score: 0.95
A

Enter score: perfect
Bad score

Enter score: 10.0
Bad score

Enter score: 0.75
C

Enter score: 0.5
F

Suppose 1% of the population of Toronto has been infected with SARS-CoV-2 at some point (call the corresponding proportion, 0.01, the prevalence of the virus). There are now antibody tests available for SARS-CoV-2 to detect whether someone has ever been infected. However, like any test, these tests are not perfect and are subject to error at some rate.

Also suppose that, when someone has been infected, the test correctly comes up positive 98% of the time, comes up negative 1.7% of the time, and comes up inconclusive in the remaining 0.3% of cases. Also suppose that when someone has not been infected, the test correctly comes up negative 99% of the time, positive 0.8% of the time, and inconclusive 0.2% of the time.

Let ?D be the event that a randomly selected person in Toronto has truly been infected (?D for disease). Thus, ??Dc is the event that the person has never been infected. Let ++ be the event that a test comes up positive, and – the event it comes up negative. Use ?O for inconclusive.

Draw a probability tree to depict the relationship between these events (see Lecture 7). Use the tree to compute ?(?|+)P(D|+), the probability that someone has been infected conditional on getting a positive test result. What does this result mean in words and why might it be surprising (1-2 sentences)?

6.28 Modified You are to determine if exposure by oral ingestion to the chemicals xylene, toluene, arsenic, and hexavalent chromium poses a noncarcinogenic health risk. The chemical-specific reference doses (mg/kg-day) obtained from IRIS are: xylene (0.2), toluene (0.8), arsenic (0.0003), and hexavalent chromium (0.003) Assume a 70 kg individual consumes 2 liters of water per day with these chemicals dissolved at a concentration of 1 mg/L. Determine the HQ for the water.