Questions
what are the probabilities that contacting 25 potential new customers would result in at least 5 new customers?

 

If a cell phone company conducted a telemarketing campaign to generate new clients, and the probability of successfully gaining a new customer was 0.05, what are the probabilities that contacting 25 potential new customers would result in at least 5 new customers?

In: Statistics and Probability

The Company assists clients by designing and implementing solutions that reduce the overall costs of its...

The Company assists clients by designing and implementing solutions that reduce the overall costs of its customers’ supply chains. The Company provides Just-In-Time (JIT) inventory management of spare parts used in its customers’ manufacturing processes to reduce cycle times and lower inventory-related costs. The Company entered into a supply management contract (the “Agreement”) with the Customer, an unrelated third party, to provide spare parts ,
management services,(including sourcing, procurement, repair, transport and delivery), and warehouse management.
?The key terms of the agreement between the company and customer are as follows:
I. Purchase Process•
A Customer provides the Company with a plan at the beginning of the year with a forecast of spare parts that it needs as part of its manufacturing process. On the basis of this plan, the Company purchases spare parts from third-party vendors and ships the spare parts directly to the Customer’s location. The Agreement states that the Customer determines the product and service specifications and that no changes or modifications can occur without the Customer’s consent. The Company purchases spare parts directly from vendors. Note that although the Company purchased the spare parts according to the plan, the Customer is not obligated or committed to purchase these spare parts. •
The Company directly purchases from third-party vendors; the Customer, is not involved in the purchasing process. Vendors name the Company in their invoices; the Customer is not named in the invoice. The Company is responsible for all payments to its vendors in purchasing the spare parts. •
When spare parts are purchased by the Company , the vendor ships the spare parts directly to the Customer’s warehouse ;however, the Customer does not purchase and obtain title to the spare parts in its warehouse until it issues a purchase order (P.O.) to the Company. At this point, the title of the inventory for which a P.O. has been authorized transfers from the Company to the Customer
.
The Company is responsible for the quality of the product sold to the Customer, who has the right to return any defective product to the Company.
•Purchase of spare parts by the Company is generally made in advance of receiving a P.O. from the Customer,and the Company is obligated to pay the vendors within the agreed-upon payment terms irrespective of whether the spare parts are sold to the Customer or payment is collected from the Customer •
The Company has latitude in vendor selection and negotiates pricing with its vendors. The Company sets the price it charges the Customer on the basis of the Company’s cost plus a predetermined mark-up. If the Company is able to achieve certain cost savings for the Customer (on the basis of its ability to negotiate pricing with its vendors), it is entitled to bonus payments that are based on a percentage of such savings. Therefore, the better the Company does in negotiating savings for the Customer, the greater the margin it earns on each sale.
Spare parts inventory, that is not purchased by the Customer as part of the P.O. process ( because parts are obsolete or requirements have changed) remain the property of the Company If the Company is not able to sell the inventory to other parties, the Customer will reimburse the Company for 50 percent of the cost of the unsold parts
.
II. Warehouse Operations
•
The spare parts are held in the Customer’s (Tara) warehouse, allowing immediate access to the spare parts, which avoids the cost of storage for the Company.• Although inventory is held in the Customer’s warehouse, risk of loss or damage remains with the Company, and insurance is paid for by the Company. The Company has dedicated employees stationed at each Customer’s warehouse. These employees handle the day-to-day issues with spare parts received into the warehouse.• The Company’s and Customer’s inventory systems are interfaced, allowing the Company to monitor stock levels.
III. Shipping Terms
As noted above, the spare parts are shipped directly from the vendors to the
Customer’s warehouse. The Company retains title and risk of loss during shipping and at the Customer’s warehouse until a P.O. is issued by the Customer to purchase the spare parts. After the Customer issues the P.O., the title transfers, and the Company recognizes revenue
.
IIII. Company Fee•
The Company receives 5.5percent as a “consumption fee” for spare parts that are consumed (i.e., purchased) by the Customer from the warehouse. In addition, as noted above, the Company earns other fees according to its ability to negotiate favorable pricing on the spare parts.
Required
:
•
a. How should the Company report revenue related to this arrangement?
b. When should it be reported by the Company?
c. When is the Revenue Earned by The company for Reporting purposes? For Tax Purposes?

In: Accounting

A cell phone company states that the mean cell phone bill of all their customers is...

A cell phone company states that the mean cell phone bill of all their customers is less than $83. A sample of 19 customers gives a sample mean bill of $82.17 and a sample standard deviation of $2.37. At ? = 0.05 , test the company’s claim?

1). State the hypothesis and label which represents the claim: : H 0 : H a

2). Specify the level of significance  =

3). Sketch the appropriate distribution, find and label the Critical Value(s) in Statdisk to 3 decimal places, and shade in  to indicate the Rejection Region(s)

4.) Calculate the test statistic (to 3 decimal places). Label this appropriately as Z or t.

5). Decision: Reject Ho or Do Not Reject Ho (You do not have to write a statement):

6). In the distribution below, label the test statistic you calculated from part (4). Using Statdisk, find the P-value corresponding to the test statistic. Shade in and label the P-value in the distribution.

In: Statistics and Probability

A small company just opened a new massage station at Philadelphia airport. The company has a...

A small company just opened a new massage station at Philadelphia airport. The company has a stand that offers massages to travelers.Customers can select a length of massage between 5 and 20 minutes and there is a unique rate of $30 independently of the length selected by customers. The average length of massage requested by customers is of 15 minutes with standard deviation of 10 minutes. There are TWO employees delivering massages. The average number of potential customers requesting a massage is of 20 per hour. The inter-arrival times are assumed to be exponentially distributed. If no spot is available when the customer arrives, s/he leaves in order not to risk missing her/his flight. What is the average number of customers serviced per hour? (You should be accurate up to two decimal digits after the decimal point.)

In: Statistics and Probability

{Exercise 16.129} This exercise requires the use of a computer and software. Dataset: Height Income 68...

{Exercise 16.129}

This exercise requires the use of a computer and software.

Dataset:

Height Income
68 65
73 58
68 50
75 49
67 58
70 60
68 58
71 56
68 54
69 64
65 59
65 64
70 48
68 65
67 49
70 51
66 73
68 64
74 58
73 70
65 67
68 74
71 76
69 68
72 51
72 70
72 71
78 67
72 63
64 55
68 69
64 64
72 54
67 70
70 60
73 58
67 54
67 54
66 51
65 63
66 50
64 40
69 65
75 81
69 68
71 55
72 47
73 47
69 72
72 54
73 54
72 70
68 62
68 57
68 54
75 69
71 47
74 58
63 55
70 57
73 69
68 61
71 68
68 56
69 64
66 59
70 64
69 60
66 50
64 63
64 47
66 70
70 64
68 54
67 74
68 54
68 50
64 44
65 70
71 51
65 54
64 52
71 51
69 68
69 53
72 67
66 58
70 71
67 49
67 74
73 67
67 55
68 54
65 62
70 55
68 54
66 51
68 60
70 48
70 64
71 59
73 54
76 65
66 51
67 50
66 50
71 72
70 61
69 48
67 55
73 63
73 63
62 53
67 50
73 66
67 54
72 64
67 70
70 60
71 52
69 60
70 52
67 45
66 59
69 64
71 60
71 68
69 57
71 64
70 71
69 40
72 60
72 59
74 69
70 60
72 70
70 63
68 73
72 66
70 61
65 51
64 63
71 59
62 48
67 41
69 57
68 53
76 72
73 66
69 69
69 56
70 59
64 64
72 62
66 59
69 81
66 55
68 58
69 52
69 72
65 50
68 73
67 66
65 64
74 65
72 66
72 67
69 66
74 62
69 61
66 62
70 65
74 58
70 72
63 45
63 65
70 61
65 74
67 66
65 50
73 55
75 57
70 64
68 50
75 74
69 40
66 55
69 52
62 57
65 63
70 63
71 63
74 45
74 71
74 61
68 41
71 63
69 57
71 71
71 71
64 71
67 70
68 48
66 71
68 66
71 67
73 61
72 55
63 41
69 57
66 66
71 52
70 60
71 64
68 52
62 68
68 61
70 53
69 40
68 53
67 57
63 67
71 55
71 59
62 50
71 63
67 66
69 49
69 61
67 47
66 42
74 69
70 68
66 51
71 47
68 50
71 56
68 48
77 60
67 65
71 63
66 51
70 68
65 59
64 56
67 61
68 78
64 60
74 61
71 72

One general belief held by observers of the business world is that taller men earn more money than shorter men. In a University of Pittsburgh study, 250 MBA graduates, all about 30 years old, were polled and asked to report their height (in inches) and their annual income (to the nearest $1,000). Are the required conditions satisfied?

Select: Yes or No

In: Statistics and Probability

Customer service is not only important to we the customer, but it is important our company...

Customer service is not only important to we the customer, but it is important our company and our customers. We want our customers to return again and again to improve the lifetime value of that customer to our company, right? Compare reactive and proactive customer service. Define customer service failure, and provide an example for a grocery store. What are customer needs and wants, and why are these important to the topic of customer service?

In: Operations Management

Assignment 1: Company 1: Google a. Name a major product/service offered: b. List & explain several...

Assignment 1:

Company 1: Google

a. Name a major product/service offered:

b. List & explain several methods used to create customer loyalty and retain customers for the product/service selected:

Company 2: Apple

c. Name a major product/service offered:

d. List & explain several methods used to create customer loyalty and retain customers for the product/service selected:

In: Operations Management

3. A firm has the following three projections of revenue estimates: Current Year1 Year 2 Year...

3. A firm has the following three projections of revenue estimates:

Current Year1 Year 2 Year 3

Revenue $1,500 $1,650 $1,815 $2,000

EAT $95 $106 $117 $130

The company also receives a royalty net after taxes of $10 million per year. It is expected that the cash flows equal to depreciation will have to be reinvested to keep the firm operating. Further, capital expenditures equal to 60 percent of the net cash flow will need to be invested to keep the firm growing. Other items on the balance sheet remain unchanged. The CFO believes that it will just forecast for the first three years and then simply assume a 6 percent annual growth rate after the third year.

T-bills yield 8 percent and the market return is 13 percent. The company’s beta using Hamada equation is 1.2. What is the value of the company or what would you pay for the firm if you were interested in it.


In: Finance

A company is considering a 3-year project that requires an initial installed equipment cost of $15,000....

A company is considering a 3-year project that requires an initial installed equipment cost of $15,000. The project engineer has estimated that the operating cash flows will be $5,000 in year 1, $7,000 in year 2, and $9,000 in year 3. The new machine will also require a parts inventory of $3,000 at the beginning of the project (assume this inventory can be sold for cost at the end of the project). It is also estimated that the equipment can be sold as salvage for an after tax salvage cash flow of $4,000 at the end of the project. If the tax rate is 27% and the required rate of return is 10%, what is the net present value (NPV) of this project? (Answer to the nearest dollar.)

In: Finance

23. Hurko, LP was formed in 2006 and adopted a calendar year. Here is a schedule...

23. Hurko, LP was formed in 2006 and adopted a calendar year. Here is a schedule of Hurko’s net Section 1231 gains and (losses) reported on its tax returns through 2011. 2006 2078 2008 2009 2010 2011 -0- (3,800) 9,040 (15,900) -0- -0- In 2012, Hurko recognized a $25,000 gain on the sale of business land. How is this gain characterized on Hurko's 2012 tax return? A. $25,000 Section 1231 gain. B. $9,100 ordinary gain and $15,900 Section 1231 gain. C. $15,900 ordinary gain and $9,100 Section 1231 gain. D. $25,000 ordinary gain. E. None of the above.

In: Accounting