An individual makes decisions according to Bayes’ decision rule. For her current problem, she has constructed the following payoff table, and she now wishes to maximize the expected payoff.

The value of x currently is 50, but there is an opportunity to increase x by spending some money now.   What is the maximum amount that should be spent to increase x to 75?

A cylindrical pressure vessel is subjected to an internal pressure of 350psi. The initial
dimensions of the vessel prior to pressurization are a diameter of 12.00 inches, a length of 24.00
inches and a wall thickness of 0.06 inches. The material used in the vessel is steel with σy= 60,000 psi, (σ)̅ = 90,000(ε)̅ )0.2
, E = 30 × 10^6psi, ν = 0.3.

a. What amount of axial stress must be applied in addition to the stresses produced by the internal
pressure to result in yielding?
b. If the axial stress applied (in the addition to the stresses produced by the pressure) is 50,000 psi.
What is the new cylinder length?

Create an excel workbook for the following questions. Answer these questions under your Solver work for each respective problem.

1. Devos Inc. is building a hotel. It will have 4 kinds of rooms: suites where customers can smoke, suites that are non-smoking, budget rooms where the customers can smoke, and budget rooms that are non-smoking. When we build the hotel, we need to plan for how many rooms of each type we should have. The following are requirements for the hotel:

1. We want to figure out how many rooms of each type to build based on maximizing revenue if we fill up the hotel. We expect to charge $190 for a suite that is non-smoking and $140 for a budget room that is non-smoking. Smoking room customers for both suites and budget rooms will have to pay an additional $20 per night.
2. We can spend up to $7,500,000 on construction of our hotel. The cost to build a non-smoking budget room is $12,000. The cost to build a non-smoking suite is $15,000. It is $3,000 additional for a smoking room of either type for smoke detectors and sprinklers.
3. We require that the number of budget rooms be at least 1.5 times the number of suites, but no more than 3 the number of suites.
4. There needs to be at least 80 suites, but no more than 200.
5. Industry trends recommend that smoking rooms should be less than 50% of the non-smoking room and in addition, we require our builder gives us at least 4 smoking rooms.

Answer the following using your Solver answers:

1. How many of each room type should be built, and what would the revenue be for a night when our hotel was fully booked?
2. Without re-running Solver, what happens to our revenue if we get an additional $1,500,000 for building? Explain in words how you got this answer without re-running solver. Over what amount of construction costs can you use this procedure?
3. Over what range of room price can our budget non-smoking rooms vary over for us to get the same answer for the quantity of each type of room?

The Transactional Records Access Clearinghouse at Syracuse University reported data showing the chance of an Internal Revenue Service (IRS) audit. The data in file IRSAudit.xlsx show the average adjusted gross income reported (in $ thousands) and the percent of the returns that were audited for 20 selected IRS districts.

1. Use XLSTAT to compute a 95% confidence interval for the average percent audited of districts with an average adjusted gross income of $35,000. Interpret the interval in the context of the application.

Hint: Enter “35000” into cell B22 in the IRSAudit worksheet. Then, follow the XLSTAT directions in part (b) but before clicking “OK,” click the “Prediction” tab and select cell B22 for “X / Explanatory variables: Quantitative.” You will find the 95% confidence interval at the bottom of the XLSTAT regression output under “Lower bound 95% (Mean)” and “Upper bound 95% (Mean).”

2. Use XLSTAT to compute a 95% prediction interval for the percent audited of an individual district with an average adjusted gross income of $35,000. Interpret the interval in the context of the application.

Hint: You will find the 95% prediction interval at the bottom of the XLSTAT regression output under “Lower bound 95% (Observation)” and “Upper bound 95% (Observation).”

3. Use the regression output in XLSTAT to calculate the coefficient of determination, r2r2 from the sum of squares due to regression (SSR) and the total sum of squares (SST). Interpret your calculated value of r2r2 in the context of the application.

Hint: Find SSR and SST in the Analysis of variance table in the XLSTAT regression output. You can check your calculation by locating “R²“ in the regression output.

can you explain 3 and 4

Harper Theater is located in Midtown Mall. The cashier’s booth is near the entrance to the theater. Two cashiers are employed. Once works from 1-5 p.m., the other from 5-9 P.M.   Each cashier is bonded. The cashiers receive cash from customers and operate a machine that ejects serially numbered tickets. The rolls of tickets are inserted and locked into the machine by the theater manager at the beginning of each cashier’s shift.

After purchasing a ticket, the customer takes the ticket to an usher stationed at the entrance to the theater lobby some 60 feet from the cashier’s booth. The usher tears the ticket in half, admits the customer, and returns the ticket stub to the customer. The other half of the ticket is dropped into a locked box by the usher.

At the end of each cashier’s shift, the theater manager removes the ticket roll from the machine and makes a cash count. The cash count sheet is initialed by the cashier. At the end of the day, the manager deposits the receipts in total in a bank night deposit vault located in the mall. The manager also sends copies of the deposit slip and the initialed cash count sheets to the theater company treasurer for verification and to the company’s accounting department. Receipts from the first shift are stored in a safe located in the manager’s office.

1.) Identify the internal control procedures and their application to the cash receipts transactions of the Harper Theater. You will find the Internal Control Procedures on pages 433 through 435 of your textbook. For each Internal Control Procedure described in your textbook, identify any Internal Control Procedures that Harper Theater has in place and/or is missing. Be specific and use at least 300 words for your answer.
Be specific and use at least 300 words for your answer.

2.) If the usher and cash decide to collaborate to misappropriate cash, what actions might they take? For each action, what internal control might be employed to stop the misappropriation of cash? Be specific and use at least 200 words for your answer.

3.) Use complete sentences and good grammar.  

Suppose that chemical X is manufactured using a raw material B that is available from a location ... Suppose that chemical X is manufactured using a raw material B that is available from a location called the "mine." Production of one ton of X requires 1/3 of a ton of B. A firm called X ENTERPRISES, which has a contract to deliver 30 tons of X to a location called the "market," is trying to decide where to locate its plant. The mine and the market are 50 miles apart. Overland shipping of both X and B costs $2 dollars per ton per mile shipped. However, additional costs must be incurred because a river passes between the mine and the market, and the river has no bridge. Goods must be loaded onto barges to cross the river, which is located 16 miles from the mine. Barge operators charge $1 dollar per ton of X shipped across the river. However, since the input B is highly toxic when mixed with water, barge operators must charge an extremely high price to transport B across the river. This price defrays the cost of insurance that the operators must carry to meet liability claims should they accidentally pollute the river with their cargo. The cost of shipping one ton of B across the river is $195. A) Using the above information, find the transport-cost-minimizing location for X ENTERPRISES. The answer can be found by computing transport costs at four locations: mine, market, mine side of the river, and market side of river. Show your work. You can assume that the width of the river is negligible, so that it can be ignored. B) Illustrate your results in a carefully-drawn diagram like that presented in Figure 1.6 (use graph paper, if preferred). Graph the input shipping-cost curve by plotting the input shipping costs at the same four locations as in part (a) and then connecting the dots (the curve is drawn backwards). Similarly, plot the output shipping cost at the four locations, and then connect the dots to generate the output shipping-cost curve. Then, graph the total shipping-cost curve by adding the input and output shipping costs at each of the four locations, plotting the points and connecting the dots. Using the diagram, identifying the best location for X ENTERPRISES, which should be the same as your answer in part (a). Note that the shipping-cost curves for this problem are straight lines with jumps at the river C) Give an intuitive explanation of your results. D) Suppose that a bridge were built across the river, which would eliminate the cost of crossing it. Redo parts (a), (b), and (c) under this assumption

Based on CASE 26.2 Dollars and Cents versus a Sense of Ethics   

Grizzly Community Hospital in central Wyoming provides health care services to families living within a 200-mile radius. The hospital is extremely well equipped for a relatively small, community facility. However, it does not have renal dialysis equipment for kidney patients. Those patients requiring dialysis must travel as far as 300 miles to receive care.

Several of the staff physicians have proposed that the hospital invest in a renal dialysis center. The minimum cost required for this expansion is $4.5 million. The physicians estimate that the center will generate revenue of $1.15 million per year for approximately 20 years. Incremental costs, including the salaries of professional staff and depreciation, will average $850,000 annually. Grizzly is exempt from paying any income taxes. The only difference between annual net income and net cash flows is caused by depreciation expense. The center is not expected to have any salvage value at the end of 20 years.

The administrators of the hospital strongly oppose the proposal for several reasons: (1) They do not believe that it would generate the hospital’s minimum required return of 12 percent on capital investments; (2) they do not believe that kidney patients would use the facility even if they could avoid traveling several hundred miles to receive treatment elsewhere; (3) they do not feel that the hospital has enough depth in its professional staff to operate a dialysis center; and (4) they are certain that $4.5 million could be put to better use, such as expanding the hospital’s emergency services to include air transport by helicopter.

The issue has resulted in several heated debates between the physicians and the hospital administrators. One physician has even threatened to move out of the area if the dialysis center is not built. Another physician was quoted as saying, “All the administrators are concerned about is the almighty dollar. We are a hospital, not a profit-hungry corporation. It is our ethical responsibility to serve the health care needs of central Wyoming’s citizens.”

Instructions

1. Financial factors and measures. To be completed in Excel with formula driven answers so that all answers can be traced for correctness. Compute Payback Period, ROI and NPV - Show all calculations for the supporting calculations.
2. Nonfinancial factors such as (1) ethical responsibility, (2) quality of care issues, (3) opportunity costs associated with alternative uses of $4.5 million, (4) physician morale, and (5) whether a community hospital should be run like a business.
3. Measures that could be taken to check for overly optimistic or pessimistic estimates.

S&C Corp. recently completed its 2019 operations. The company’s financial ratios are as follows.

Required:

Just need some comments

Question 1: If R squared=0.64 for the linear regression equation Y= 3.2X+ 2.8 + error , Where Y (or response variable) = stopping distance and X (or explanatory variable)= Velocity which of the following are true?

1. a.) That 64 % of the variation in Stopping distance is explained by velocity and the correlation coefficient R= -0.8
2. b.) That 64 % of the variation in Stopping distance is explained by velocity and the correlation coefficient R= 0.8
3. c.) That velocity (X) will explain the stopping distance perfectly 64% of the time and the correlation coefficient is R= 0.7
4. d.) That velocity (X) will explain the stopping distance perfectly 64% of the time and the correlation coefficient is R= 0.7

Question 2: Which of the following is true about categorical and quantitative variables

1. a.) That pie charts and bar charts provide a good description of quantitative variables but not categorical variables
2. b.) That histograms and stem and leaf plots provide a good description of quantitative variables but not categorical variables
3. c.) Both a and b

Question 3: Which of the following is true about skewed distributions?

1. a.) That the closer the mean is to the median the more skewed the data is.
2. b.) That the mean and median is the same whether the distribution is skewed or normal.
3. c.) That you can’t rely on just on whether the mean= median to see if you have zero skewness, you have to see if your histograms and stem and leaf plot are symmetrical or normally distributed as well to assess if your data is truly normal.
4. d.) The closer the mean is to the median the more normal the data is
5. e.) Both c and d.
6. f.) All of the above

Question 4: Use your normal probability chart to find the probability of the below:

1. a.) P( Z < -1.21) b.) P( Z > - 1.21)    c.) P(Z < 2.13)      d) P( Z > 2.13)