Questions
Johnson Beverage sell to Retail store customers - about 20 customers Last year Revenue was $12...

Johnson Beverage sell to Retail store customers - about 20 customers
Last year Revenue was $12 million  - Sell Sport Drinks
(Exhibit 1 Customer Profitability)
Saver Oscars Downtown
Superstore Odd Lots Midwellon Retail Others Total JBI
Net Revenue $1,168,000 $1,192,000 $121,520 $454,500 $9,063,980 $12,000,000
Cost of Goods Sold 1,048,000 1,048,000 104,800 393,000 7,886,200 10,480,000
Gross Profit 120,000 144,000 16,720 61,500 1,177,780 1,520,000
Customer Service Costs 116,800 119,200 12,152 45,450 906,398 1,200,000
Customer Profit 3,200 24,800 4,568 16,050 271,382 320,000
Profit % 0.3% 2.1% 3.8% 3.5% 3.0% 2.7%
List price is  $15.20 per case   Cost is $13.10 per case
Discounts vary by customer
(Exhibit 2 Customer information)
Saver Oscars Downtown
Superstore Odd Lots Midwellon Retail Others Total JBI
Price per Case $14.60 $14.90 $15.19 $15.15 $15.06 $15.00
Number of Cases 80,000 80,000 8,000 30,000 602,000 800,000
Number of Orders 16 40 20 30 394 500
Number of Deliveries 110 400 200 230 3,540 4,480
Miles per Delivery 5 19 11 4 10
Expedited Deliveries 10 250 130 90 2,020 2,500
Sales Visits 12 25 18 9 296 360
Customer Saver Superstore is not happy - they think they
are paying too much
Customer Service Cost Detail
In addition to COGS Johnson has Customer Service costs Cost
of $1.2 million per year - like overhead See Table 1 Product Handling $672,000
Currently allocated based on % of revenue Taking Orders from Customers 100,000
Delivering the Product 140,000
They Run a report of Profitability by Customer Expediting Deliveries 198,000
See Exhibit 1 Sales visits 90,000
Total $1,200,000
Can you help them using Activity Based costing?

In: Accounting

Suppose a carnival director in a certain city imposes a height limit on an amusement park...

Suppose a carnival director in a certain city imposes a height limit on an amusement park ride called Terror Mountain, due to safety concerns. Patrons must be at least 4 feet tall to ride Terror Mountain. Suppose patrons’ heights in this city follow a Normal distribution with a mean of 4.5 feet and a standard deviation of 0.8 feet (patrons are mostly children). Make sure to show all of your work in this question. Show the distribution that your random variable follows; state the probability you are asked to calculate; show any tricks you use; show how you standardize, and state your found value from Table A4.

a) [5 marks] What is the probability that a randomly selected patron would be tall enough to ride Terror Mountain?

b) [5 marks] A group of 3 friends want to ride Terror Mountain. What is the probability that their mean height is greater than 4.5 feet?

c) [7 marks] Another group of 5 friends wants to ride Terror Mountain. What is the probability that their mean height is between 4 and 4.25 feet, inclusive?

In: Statistics and Probability

In the probability distribution to the​ right, the random variable X represents the number of hits...

In the probability distribution to the​ right, the random variable X represents the number of hits a baseball player obtained in a game over the course of a season. Complete parts​ (a) through​ (f) below. x ​P(x) 0 0.1685 1 0.3358 2 0.2828 3 0.1501 4 0.0374 5 0.0254 ​

(a) Verify that this is a discrete probability distribution. This is a discrete probability distribution because all of the probabilities are at least one of the probabilities is all of the probabilities are between 0 and 1​, ​inclusive, and the sum mean sum product of the probabilities is 1. ​(Type whole numbers. Use ascending​ order.)

​(b) Draw a graph of the probability distribution. Describe the shape of the distribution. Graph the probability distribution. Choose the correct graph below. A. 0 1 2 3 4 5 0 0.1 0.2 0.3 0.4 Number of Hits Probability The graph of a probability distribution has a horizontal x-axis labeled "Number of Hits" from 0 to 5 in intervals of 1 and a vertical y-axis labeled "Probability" from 0 to 0.4 in intervals of 0.05. Vertical line segments are centered on each of the horizontal axis tick marks. The approximate heights of the vertical line segments are as follows, with the horizontal coordinate listed first and the line height listed second: 0, 0.15; 1, 0.04; 2, 0.03; 3, 0.17; 4, 0.34; 5, 0.28. B. 0 1 2 3 4 5 0 0.1 0.2 0.3 0.4 Number of Hits Probability The graph of a probability distribution has a horizontal x-axis labeled "Number of Hits" from 0 to 5 in intervals of 1 and a vertical y-axis labeled "Probability" from 0 to 0.4 in intervals of 0.05. Vertical line segments are centered on each of the horizontal axis tick marks. The approximate heights of the vertical line segments are as follows, with the horizontal coordinate listed first and the line height listed second: 0, 0.34; 1, 0.15; 2, 0.03; 3, 0.17; 4, 0.28; 5, 0.04. C. 0 1 2 3 4 5 0 0.1 0.2 0.3 0.4 Number of Hits Probability The graph of a probability distribution has a horizontal x-axis labeled "Number of Hits" from 0 to 5 in intervals of 1 and a vertical y-axis labeled "Probability" from 0 to 0.4 in intervals of 0.05. Vertical line segments are centered on each of the horizontal axis tick marks. The approximate heights of the vertical line segments are as follows, with the horizontal coordinate listed first and the line height listed second: 0, 0.03; 1, 0.04; 2, 0.15; 3, 0.28; 4, 0.34; 5, 0.17. D. 0 1 2 3 4 5 0 0.1 0.2 0.3 0.4 Number of Hits Probability The graph of a probability distribution has a horizontal x-axis labeled "Number of Hits" from 0 to 5 in intervals of 1 and a vertical y-axis labeled "Probability" from 0 to 0.4 in intervals of 0.05. Vertical line segments are centered on each of the horizontal axis tick marks. The approximate heights of the vertical line segments are as follows, with the horizontal coordinate listed first and the line height listed second: 0, 0.17; 1, 0.34; 2, 0.28; 3, 0.15; 4, 0.04; 5, 0.03. Describe the shape of the distribution. The distribution has one mode has one mode is multimodal is uniform is bimodal and is skewed right. roughly symmetric. skewed right. skewed left.

​(c) Compute and interpret the mean of the random variable X. mu Subscript xequals 0.1666 hits ​(Type an integer or a decimal. Do not​ round.) Which of the following interpretations of the mean is​ correct? A. In any number of​ games, one would expect the mean number of hits per game to be the mean of the random variable. B. Over the course of many​ games, one would expect the mean number of hits per game to be the mean of the random variable. C. The observed number of hits per game will be less than the mean number of hits per game for most games. D. The observed number of hits per game will be equal to the mean number of hits per game for most games. ​

Need help with (c) through (f) please!

(d) Compute the standard deviation of the random variable X. sigma Subscript xequals nothing hits ​(Round to three decimal places as​ needed.)

​(e) What is the probability that in a randomly selected​ game, the player got 2​ hits? nothing ​(Type an integer or a decimal. Do not​ round.)

​(f) What is the probability that in a randomly selected​ game, the player got more than 1​ hit? nothing ​(Type an integer or a decimal. Do not​ round.)

In: Statistics and Probability

Refer to the Lincolnville School District bus data. 1. Refer to the maintenance cost variable. The...

Refer to the Lincolnville School District bus data.

1. Refer to the maintenance cost variable. The mean maintenance cost for last year is $4,552 with a standard deviation of $2,332. Estimate the number of buses with a maintenace cost of more than $6,000. Compare that with the actual number. Create a frequency distribution of maintenance cost. Is the distribution normally distributed?

2. Refer to the variable on the number of miles driven since the lastm maintenance. The mean is 11,121 and the standard deviation is 617 miles. Estimate the number of buses traveling more than 11,500 miles since the last maintnance. Compare that number with the actual value. Create a frequency distribution of miles since maintenance cost. Is the distribution normally distributed?

ID Manufacturer Engine Type Engine Type (0=diesel) Capacity Maintenance cost Age Odometer Miles Miles
10 Keiser Gasoline 1 14 4646 5 54375 11973
396 Thompson Diesel 0 14 1072 2 21858 11969
122 Bluebird Gasoline 1 55 9394 10 116580 11967
751 Keiser Diesel 0 14 1078 2 22444 11948
279 Bluebird Diesel 0 55 1008 2 22672 11925
500 Bluebird Gasoline 1 55 5329 5 50765 11922
520 Bluebird Diesel 0 55 4794 10 119130 11896
759 Keiser Diesel 0 55 3952 8 87872 11883
714 Bluebird Diesel 0 42 3742 7 73703 11837
875 Bluebird Diesel 0 55 4376 9 97947 11814
600 Bluebird Diesel 0 55 4832 10 119860 11800
953 Bluebird Diesel 0 55 5160 10 117700 11798
101 Bluebird Diesel 0 55 1955 4 41096 11789
358 Bluebird Diesel 0 55 2775 6 70086 11782
29 Bluebird Gasoline 1 55 5352 6 69438 11781
365 Keiser Diesel 0 55 3065 6 63384 11778
162 Keiser Gasoline 1 55 3143 3 31266 11758
686 Bluebird Diesel 0 55 1569 3 34674 11757
370 Keiser Gasoline 1 55 7766 8 86528 11707
887 Bluebird Diesel 0 55 3743 8 93672 11704
464 Bluebird Gasoline 1 55 2540 3 34530 11698
948 Keiser Diesel 0 42 4342 9 97956 11691
678 Keiser Diesel 0 55 3361 7 75229 11668
481 Keiser Gasoline 1 6 3097 3 34362 11662
43 Bluebird Gasoline 1 55 8263 9 102969 11615
704 Bluebird Diesel 0 55 4218 8 83424 11610
814 Bluebird Diesel 0 55 2028 4 40824 11576
39 Bluebird Gasoline re 55 5821 6 69444 11533
699 Bluebird Gasoline 1 55 9069 9 98307 11518
75 Bluebird Diesel 0 55 3011 6 71970 11462
693 Keiser Gasoline 1 55 9193 9 101889 11461
989 Keiser Diesel 0 55 4795 9 106605 11418
982 Bluebird Diesel 0 55 505 1 10276 11359
321 Bluebird Diesel 0 42 2732 6 70122 11358
724 Keiser Diesel 0 42 3754 8 91968 11344
732 Keiser Diesel 0 42 4640 9 101196 11342
880 Keiser Gasoline 1 55 8410 9 97065 11336
193 Thompson Diesel 0 14 5922 11 128711 11248
884 Bluebird Diesel 0 55 4364 9 92457 11231
57 Bluebird Diesel 0 55 3190 7 79240 11222
731 Bluebird Diesel 0 42 3213 6 68526 11168
61 Keiser Diesel 0 55 4139 9 103536 11148
135 Bluebird Diesel 0 55 3560 7 76426 11127
833 Thompson Diesel 0 14 3920 8 90968 11112
671 Thompson Gasoline 1 14 6733 8 89792 11100
692 Bluebird Diesel 0 55 3770 8 93248 11048
200 Bluebird Diesel 0 55 5168 10 103700 11018
754 Keiser Diesel 0 14 7380 14 146860 11003
540 Bluebird Gasoline 1 55 3656 4 45284 10945
660 Bluebird Gasoline 1 55 6213 6 64434 10911
353 Keiser Gasoline 1 55 4279 4 45744 10902
482 Bluebird Gasoline 1 55 10575 10 116534 10802
398 Thompson Diesel 0 6 4752 9 95922 10802
984 Bluebird Diesel 0 55 3809 8 87664 10760
977 Bluebird Diesel 0 55 3769 7 79422 10759
705 Keiser Diesel 0 42 2152 4 47596 10755
767 Keiser Diesel 0 55 2985 6 71538 10726
326 Bluebird Diesel 0 55 4563 9 107343 10724
120 Keiser Diesel 0 42 4723 10 110320 10674
554 Bluebird Diesel 0 42 1826 4 44604 10662
695 Bluebird Diesel 0 55 1061 2 23152 10633
9 Keiser Gasoline 1 55 3527 4 46848 10591
861 Bluebird Gasoline 1 55 9669 10 106040 10551
603 Keiser Diesel 0 14 2116 4 44384 10518
156 Thompson Diesel 0 14 6212 12 140460 10473
427 Keiser Gasoline 1 55 6927 7 73423 10355
883 Bluebird Gasoline 1 55 1881 2 20742 10344
168 Thompson Gasoline 1 14 7004 7 83006 10315
954 Bluebird Diesel 0 42 5284 10 101000 10235
768 Bluebird Diesel 0 42 3173 7 71778 10227
490 Bluebird Gasoline 1 55 10133 10 106240 10210
725 Bluebird Diesel 0 55 2356 5 57065 10209
45 Keiser Diesel 0 55 3124 6 60102 10167
38 Keiser Gasoline 1 14 5976 6 61662 10140
314 Thompson Diesel 0 6 5408 11 128117 10128
507 Bluebird Diesel 0 55 3690 7 72849 10095
40 Bluebird Gasoline 1 55 9573 10 118470 10081
918 Bluebird Diesel 0 55 2470 5 53620 10075
387 Bluebird Gasoline 1 55 6863 8 89960 10055
418 Bluebird Diesel 0 55 4513 9 104715 10000

In: Statistics and Probability

Why was Washington DC built how and when it was? Who really built Washington DC?

Why was Washington DC built how and when it was? Who really built Washington DC?

In: Economics

- Factory supervisors’ salaries -> product cost or period cost and why? - Speakers used in...

- Factory supervisors’ salaries -> product cost or period cost and why?

- Speakers used in Sony home-theater systems -> variable or fixed cost and why?

- Insurance costs related to a Mary Kay Cosmetics' manufacturing plant -> variable or fixed cost and why?

In: Accounting

1) Identical twins Anna and Hannah visit you at the optical clinic. Anna, whose eyes can...

1) Identical twins Anna and Hannah visit you at the optical clinic. Anna, whose eyes can easily focus on distant objects (her far point), is also able to focus on objects within 20 cm of her eyes (her near point). Assuming the diameter and, hence, the distance between the cornea and retina, of Anna's eye is 20 mm, what is the range (in diopters) of Anna's vision? The limits of this range correspond to the total refractive power of her eyes at their far point and and the refractive power at their near point.

a) from 50 to 50.5 diopters

b) from 50 to 55 diopters

c) from 50 to 60 diopters

d) from 0 to 5 diopters

2) Hannah's eyes have the same range as her sister's, with the same focal power for her cornea (50 diopters) and for her variable lens (5 diopters), but Hannah suffers from myopia. She cannot focus on any object that lies more than 0.7 meters from her eyes since they are slightly longer -- the cornea to retina distance is larger -- than her sister's eyes. Considering this new far point, what is the diameter of Hannah's eyes (in millimeters, to the nearest tenth of a millimeter) assuming Anna's eye diameter was ideally, again, 20.0 mm? Hint: the focal power of the cornea remains the same for Hannah as for Anna for focusing distant objects, but the farthest Hannah can see (object distance) changes from infinity to 0.7 meters.  

3) Assuming, instead, that the diameters of Hannah's myopic eyes were 20.4 mm, but, again, that Hannah's eyes share the same focal powers for her cornea and lens as Anna's, what would be Hannah's near point (to the nearest tenth of a cm, in cm) if Anna's, again, is 20 cm?

4) Now assuming Anna's far point was found to be 0.8 m (i.e., her eyes can't focus on any object more than 0.8 m away), what power corrective lenses would you prescribe to Hannah so that, when wearing these lenses, her visual range was the same as Anna's (from a near point of 20 cm to a far point of infinity? Give your answer in units of diopters, to the nearest tenth of a diopter, with the correct sign.

5) One treatment of cataracts is to surgically remove the variable lens of the eye. If we assume that the cornea's refractive power focuses objects at infinite distances onto the retina of a person who has had this surgery, what power correcting lenses would they need to be able to read text at a 21-cm near-point distance? Again, give your answer in units of diopters, to the nearest tenth of a diopter and with the correct sign.

In: Physics

Answer the following questions in order to approximate the value of sin(0.8). Note that π/ 4...

Answer the following questions in order to approximate the value of sin(0.8).

Note that π/ 4 ≈ 0.785 radians.

(a) Do you have enough information to use right triangles to estimate sin(0.8)? Why?

(b) Estimate sin(0.8) using values of sin(x) that you know from part (2).

(c) Estimate sin(0.8) using the graph of y = sin(x) from part (3).

(d) Estimate sin(0.8) using the 5th degree Taylor polynomial for sin(x) at a = 0 (I will accept either the Taylor polynomial up to n = 5 or the Taylor polynomial up to the x^5 term). Find the error bound from the Alternating Series Estimation Theorem (using the next nonzero term of the Maclaurin series), and explain what it tells you about the actual value of sin(0.8).

In: Advanced Math

The following graph input tool shows the daily demand for hotel rooms at the Triple Sevens Hotel and Casino in Las Vegas, Nevada.

 9. Application: Elasticity and hotel rooms

 The following graph input tool shows the daily demand for hotel rooms at the Triple Sevens Hotel and Casino in Las Vegas, Nevada. To help the hotel management better understand the market, an economist identified three primary factors that affect the demand for rooms each night. These demand factors, along with the values corresponding to the initial demand curve, are shown in the following table and alongside the graph input tool.

 Demand Factor   Initial Value

 Average American household income $40,000 per year

 Roundtrip airfare from Los Angeles (LAX) to Las Vegas (LAS) $200 per roundtrip

 Room rate at the Exhilaration Hotel and Casino, which is near the Triple Sevens $200 per night



 Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.

 Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.

image.png

 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Triple Sevens is charging $200 per room per night.

 If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens _______  from _______  rooms per night to _______  rooms per night. Therefore, the income elasticity of demand is _______  meaning that hotel rooms at the Triple Sevens are _______ .


 If the price of a room at the Exhilaration were to decrease by 20%, from $200 to $160, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens _______  from _______  rooms per night to _______  rooms per night. Because the cross-price elasticity of demand is _______ , hotel rooms at the Triple Sevens and hotel rooms at the Exhilaration are _______ .


 Triple Sevens is debating decreasing the price of its rooms to $175 per night. Under the initial demand conditions, you can see that this would cause its total revenue to _______ . Decreasing the price will always have this effect on revenue when Triple Sevens is operating on the _______  portion of its demand curve.


In: Economics

A single community is comprised of just three voters i = {1, 2, 3}, each of...

  1. A single community is comprised of just three voters i = {1, 2, 3}, each of whom have differing tastes for public parks, as described by the following three demand functions.

q1 = 100 – 2p

q2 = 110 – 2p

q3 = 126 – 2p  

(a)        Public parks are a local public good. Assuming that the marginal cost to society,

mcs, of providing each unit of park space is $90, what is the socially optimal quantity of parks? Provide a graph with your answer. Please show all of your work. 3pt

(b)        Assume that the price tag for each unit of park is split evenly across the community

members so that the marginal cost to each member is just $30. At this price, what is

each member’s optimal quantity of park space? Is there unanimity across the three individuals regarding the desired level of park space? 3pt

(c)        Using Lindahl pricing (aka Lindahl taxing), what price schedule would guarantee unanimous agreement across all three members and would also yield a socially optimal outcome? Please show your work. 3pt

  1. Please refer back to Q1 when answering the following questions.

(a)        Draw each individual’s demand curve for park space. Then calculate each person’s

consumer surplus at each of the three optimal quantities. Please show your work. 3pt

                        Hint: remember that each person must pay $30 per unit of park space consumed.

(b)        Using the consumer surplus calculations from Q2(a), fill in the following table by

assigning a rank to each person’s park space options. 3pt    

                       

Rank

i = 1

i = 2

i = 3

1st

2nd

3rd

(c)        In a political environment with direct democracy through majority rule, which of the

three park space alternatives will consistently win a series of pair-wise votes? 3pt

d) Is the winning option aligned with what would be predicted by the median voter

            theorem? Is this outcome socially optimal? Explain why or why not. 3pt  

In: Economics