An amusement park studied methods for decreasing the waiting time (minutes) for rides by loading and unloading riders more efficiently. Two alternative loading/unloading methods have been proposed. To account for potential differences due to the type of ride and the possible interaction between the method of loading and unloading and the type of ride, a factorial experiment was designed. Use the following data to test for any significant effect due to the loading and unloading method, the type of ride, and interaction. Use . Factor A is method of loading and unloading; Factor B is the type of ride.
|
Type of Ride |
|||
|
Roller Coaster |
Screaming Demon |
Long Flume |
|
|
Method 1 |
42 |
54 |
46 |
|
44 |
46 |
42 |
|
|
Method 2 |
47 |
53 |
49 |
|
49 |
49 |
45 |
|
Set up the ANOVA table (to whole number, but -value to 2 decimals and value to 1 decimal, if necessary).
|
Source of Variation |
Sum of Squares |
Degrees of Freedom |
Mean Square |
-value |
|
|
Factor A |
|||||
|
Factor B |
|||||
|
Interaction |
|||||
|
Error |
|||||
|
Total |
In: Statistics and Probability
An amusement park studied methods for decreasing the waiting time (minutes) for rides by loading and unloading riders more efficiently. Two alternative loading/unloading methods have been proposed. To account for potential differences due to the type of ride and the possible interaction between the method of loading and unloading and the type of ride, a factorial experiment was designed. Use the following data to test for any significant effect due to the loading and unloading method, the type of ride, and interaction. Use . Factor A is method of loading and unloading; Factor B is the type of ride.
Type of Ride |
|||
| Roller Coaster | Screaming Demon | Long Flume | |
| Method 1 | 41 | 50 | 53 |
| 43 | 42 | 49 | |
| Method 2 | 48 | 51 | 50 |
| 50 | 47 | 46 | |
Set up the ANOVA table (to whole number, but p-value to 2 decimals and F value to 1 decimal, if necessary).
| Source of Variation | Sum of Squares | Degrees of Freedom | Mean Square | F | p-value |
| Factor A | |||||
| Factor B | |||||
| Interaction | |||||
| Error | N/A | ||||
| Total |
In: Statistics and Probability
|
Costs |
$900 million/year first three years |
||
|
Construction costs: |
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|
Operating costs: |
$80 million/year |
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|
Agricultural product lost from flooded lands: |
$65 million/year |
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Forest products lost from flooded lands: |
$40 million/year |
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|
Benefits |
|||
|
Revenues from Power Generation |
|||
|
Hydropower generated: |
4 billion Kilowatt hours/year |
||
|
Price of electricity: |
$0.125/Kilowatt hour |
||
|
Revenues from Irrigation Services |
|||
|
Irrigation water available from the dam: |
200K Acre-Feet |
||
|
Price of water: |
$700/Acre-Foot |
||
In: Finance
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow.
|
Units |
Total |
Total |
Total Machine |
|
Produced |
Lumber Cost |
Utilities Cost |
Depreciation Cost |
| 12,000 shelves | $144,000 | $14,800 | $140,000 |
| 24,000 shelves | $288,000 | $28,600 | $140,000 |
| 48,000 shelves | $576,000 | $56,200 | $140,000 |
| 60,000 shelves | $720,000 | $70,000 | $140,000 |
1. Determine whether the costs in the table are variable, fixed, mixed, or none of these.
|
Variable Cost |
Fixed Cost |
Mixed Cost |
None of these |
||
|---|---|---|---|---|---|
| Lumber | |||||
| Utilities | |||||
| Depreciation |
Points:
3 / 3
2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost per Unit x N) + Fixed Cost. Complete the following table with your answers.
| Cost | Fixed Portion of Cost | Variable Portion of Cost (per Unit) |
| Lumber | 0 | 12.00 |
| Utilities | 1000 | 1.15 |
| Depreciation | 140000 | 0.00 |
Use the Dynamic Exhibit to answer the following questions.
1. When the number of units produced is 5,000, the total direct materials cost is $ and the cost per unit is $.
2. When the number of units produced is 15,000, the total direct materials cost is $ and the cost per unit is $.
3. When the number of units produced is 25,000, the total direct materials cost is $ and the cost per unit is $.
4. When the number of units produced is 30,000, the total direct materials cost is $ and the cost per unit is $.
Use the Dynamic Exhibit to answer the following questions. Round your answers to two decimal places, if necessary.
1. When the number of units produced is 50,000, the total fixed cost is $ and the cost per unit is $.
2. When the number of units produced is 100,000, the total fixed cost is $ and the cost per unit is $.
3. When the number of units produced is 150,000, the total fixed cost is $ and the cost per unit is $.
4. When the number of units produced is 300,000, the total fixed cost is $ and the cost per unit is $.
In: Accounting
How likely do you think it is that self-service will become the dominant mode of customer problem resolution in the near or distant future? Support your answer with facts and examples from the text.
In: Economics
What are the different methods used to show a function is equal to its Taylor series near its center. In particular discuss Taylor’s inequality and how it can be used. Give a detailed example.
In: Math
What factors influence a firm’s choice between (i) home production & exporting, (ii) direct foreign investment to set up a factory near customers, and (iii) licencing a foreign producer.
In: Economics
Discuss how dress code standards for health care companies have changed over the years. Identify some of the current standards that you believe will change in the near future and explain why.
In: Nursing
he firm's markup is the amount by which _______ at the equilibrium quantity.
A.
price exceeds marginal cost
B.
price exceeds average total cost
C.
average total cost exceeds average variable cost
D.
marginal cost exceeds average total cost
In: Economics
|
Number of Doctors |
Total Inpatient Services |
Total Fixed Cost |
Total Variable Cost |
Total Cost |
Average Total Cost |
Average Fixed Cost |
Average Var. Cost |
Marginal Cost |
Average Product |
Marginal Product |
|
0 |
0 |
800 |
0 |
|||||||
|
1 |
200 |
650 |
||||||||
|
2 |
450 |
1300 |
||||||||
|
3 |
550 |
1950 |
||||||||
|
4 |
600 |
2600 |
||||||||
|
5 |
625 |
3250 |
||||||||
|
6 |
640 |
3900 |
In: Economics