Suppose that the United States initially has a lower capital rental rate (r) than Mexico.
In: Economics
Henry Brown is a 67 year-old American living in the mid Central United States. He's prescribed multiple medications for hypertension, depression, diabetes mellitus type 2, and a recent bacterial infection. Henry is not alone. In fact, estimates suggest that at least 70% of the US aging population is prescribed multiple medications due to the rapid increase in the prevalence of chronic diseases. This presents a major challenge for our health care system. Most medications require consistent adherence to the prescribed regimen for them to achieve therapeutic effect. Yet it is known that adherence rates remain suboptimal across population and disease States.
Because Henry uses a smartphone, his primary health care provider might recommend a mobile app called the Medication Tracker to help him manage his complicated medication regimen. Henry's primary health care provider recognizes apps have the potential to address the specific needs of patients in a manner that is timely, cost-effective, informative, and engaging. This app can be configured to deliver automated, personalized messaging to remind Henry to take his medication; can help Henry reinforce good self-management behaviors; can provide education on his chronic diseases; and can provide information about his medications, such as black box warnings, side effects, and contraindications for use.
In: Nursing
Red Canyon T-shirt Company operates a chain of T-shirt shops in
the southwestern United States. The sales manager has provided a
sales forecast for the coming year, along with the following
information:
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | ||||
| Budgeted Unit Sales | 42,000 | 64,000 | 32,000 | 64,000 | |||
Each T-shirt is expected to sell for $17.
The purchasing manager buys the T-shirts for $7 each.
The company needs to have enough T-shirts on hand at the end of each quarter to fill 27 percent of the next quarter’s sales demand.
Selling and administrative expenses are budgeted at $84,000 per quarter plus 14 percent of total sales revenue.
Required:
1. Determine budgeted sales revenue for each
quarter.
2. Determine budgeted cost of merchandise
purchased for each quarter.
3. Determine budgeted cost of good sold for each
quarter.
4. Determine selling and administrative expenses
for each quarter.
5. Complete the budgeted income statement for each
quarter.
In: Accounting
In: Statistics and Probability
Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: Budgeted Unit Sales Quarter 1 47,000 Quarter 2 74,000 Quarter 3 37,000 Quarter 4 74,000 Each T-shirt is expected to sell for $22. The purchasing manager buys the T-shirts for $9 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 32 percent of the next quarter’s sales demand. Selling and administrative expenses are budgeted at $94,000 per quarter plus 10 percent of total sales revenue. Required: 1. Determine budgeted sales revenue for each quarter. 2.Determine budgeted cost of merchandise purchased for each quarter. 3. Determine budgeted cost of good sold for each quarter. 4.Determine selling and administrative expenses for each quarter. 5.Complete the budgeted income statement for each quarter.
In: Accounting
In: Accounting
The fast-food industry in the United States has typically used drive-through windows to increase profitability. With 65 percent of fast-food revenue derived from drive-through windows, these windows have become the focal point for market share competition among fast-food outlets such as Wendy’s, McDonald’s, Burger King, Arby’s, and Taco Bell. Even chains that did not use drive-through windows in the past, such as Starbucks and Dunkin’ Donuts, have added them to their stores.1 Production technology changes have included the use of separate kitchens for the drive-through window, timers to monitor the seconds it takes a customer to move from the menu board to the pickup window, kitchen redesign to minimize unnecessary movement, and scanners that send customers a monthly bill rather than having them pay at each visit. Now, in an attempt to cut costs and increase speed even further, McDonald’s franchises have tested remote order-taking.2 It takes an average of 10 seconds for a new car to pull up to a drive-through menu after one car has moved forward. With a remote call center, an order-taker can answer a call from a different McDonald’s where another customer has already pulled up. Thus, a call center worker in California may take orders from Honolulu, Gulfport, Miss., and Gillette, Wyo. This means that during peak periods, a worker can take up to 95 orders per hour. The trade-offs with this increased speed at the drive-through window are employee dissatisfaction with constant monitoring and the stress of the process, decreases in accuracy in filling orders, and possible breakdowns in communication over long distances. However, this technology may be expanded to allow stores, such as Home Depot, to equip carts with speakers that customers could use to wirelessly contact a call center for shopping assistance. In Asia and other parts of the world where crowded cities and high real estate costs limit the construction of drive-throughs, McDonald’s and KFC have added motorbike delivery as part of their growth strategy.3 Fifteen hundred of the 8,800 restaurants in McDonald’s Asia/Pacific, Middle East, and Africa division offer delivery, while half of the new restaurants KFC builds in China each year will offer delivery. The delivery option requires an area in the restaurant to assemble orders that are placed in battery-powered induction heating boxes. Along with cold items in insulated containers, all of the orders are placed on the back of yellow and red McDonald’s branded motorbikes or electric scooters. Most McDonald’s delivery orders are phoned in, but the company has started offering Internet-based ordering in Singapore and Turkey. The number of call centers may be reduced in the future as online ordering increases. Neither McDonald’s nor KFC plan to use this technology in the United States, where McDonald’s derives two-thirds of its sales from drive-through customers. This case illustrates how firms can use production technology to influence their costs, revenues, and profits. Because firms in more competitive markets may not have much ability to influence the prices of their products, they may depend more on strategies to increase the number of customers and lower the costs of production. These strategies may involve changing the underlying production technology, lowering the prices paid for the inputs used, and changing the scale of operation.
In: Economics
| Number of Customers | Waiting Time (Minutes) |
| 5 | 47 |
| 2 | 27 |
| 4 | 36 |
| 4 | 44 |
| 6 | 52 |
| 3 | 21 |
| 7 | 82 |
| 3 | 43 |
| 8 | 69 |
| 4 | 28 |
Many small restaurants in Portland, Oregon, and other cities across the United States do not take reservations. Owners say that with smaller capacity, no-shows are costly, and they would rather have their staff focused on customer service rather than maintaining a reservation system.† However, it is important to be able to give reasonable estimates of waiting time when customers arrive and put their name on the waiting list. The file RestaurantLine contains 10 observations of number of people in line ahead of a customer (independent variable x) and actual waiting time (in minutes) (dependent variable y). The estimated regression equation is:
ŷ = 4.35 + 8.81x
and MSE = 94.42.
(a)
Develop a point estimate (in min) for a customer who arrives with four people on the wait-list. (Round your answer to two decimal places.)
ŷ* = min
(b)
Develop a 95% confidence interval for the mean waiting time (in min) for a customer who arrives with four customers already in line. (Round your answers to two decimal places.)
min to min
(c)
Develop a 95% prediction interval for Roger and Sherry Davy's waiting time (in min) if there are four customers in line when they arrive. (Round your answers to two decimal places.)
min to min
(d)
Discuss the difference between part (b) and part (c).
The prediction interval is much ---Select--- wider narrower than the confidence interval. This is because it is ---Select--- more less difficult to predict the waiting time for an individual customer arriving with four people in line than it is to estimate the mean waiting time for a customer arriving with four people in line.
In: Statistics and Probability
The mean cost of domestic airfares in the United States rose to an all-time high of $385 per ticket.† Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $110.
(a)
What is the probability that a domestic airfare is $550 or more? (Round your answer to four decimal places.)
(b)
What is the probability that a domestic airfare is $210 or less? (Round your answer to four decimal places.)
(c)
What is the probability that a domestic airfare is between $320 and $460? (Round your answer to four decimal places.)
(d)
What is the minimum cost in dollars for a fair to be included in the highest 9% of domestic airfares? (Round your answer to the nearest integer.)
$
In: Statistics and Probability
Red Canyon T-shirt Company operates a chain of T-shirt shops in
the southwestern United States. The sales manager has provided a
sales forecast for the coming year, along with the following
information:
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | ||||
| Budgeted Unit Sales | 49,000 | 78,000 | 39,000 | 78,000 | |||
Required:
1. Determine budgeted sales revenue for each
quarter.
2. Determine budgeted cost of merchandise
purchased for each quarter.
3. Determine budgeted cost of good sold for each
quarter.
4. Determine selling and administrative expenses
for each quarter.
5. Complete the budgeted income statement for each
quarter.
In: Accounting