The Bijou Theater shows vintage movies. Customers arrive at the theater line at the rate of 100 per hour. The ticket seller averages 30 seconds per customer, which includes placing validation stamps on customers' parking lot receipts and punching their frequent watcher cards. (Because of these added services, many customers don't get in until after the feature has started.)
a. What is the average customer time in the system?
b. What would be the effect on customer time in the system of having a second ticket taker doing nothing but validations and card punching, thereby cutting the average service time to 20 seconds?
c. Would system waiting time be less than you found in(b) if a second window was opened with each server doing all three tasks.
Part C. is the one I need help with the most. Please explain in depth. Thank you!
In: Operations Management
Lindsay is 28 years old and has a new job in web development. She wants to make sure that she is financially sound by the age of 55, so she plans to invest the same amount into a retirement account at the end of every year for the next 27 years.
| (a) | Construct a data table in Excel that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $10,000 at return of 6%, what would be the balance at the end of the 27th year? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. Round your answer to a whole dollar amount. | ||||||||||||||
| $ 637057.67 | |||||||||||||||
| (b) | Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. From the 2-way table, what are the minimum annual investments Lindsay’s must contribute for annual rates ranging from 6% to 11%, if she wants to accrue a final payout of at least $1 million? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. | ||||||||||||||
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In: Statistics and Probability
create your own example of the Debt Utilization Ratio of debt to total assets ratio. You answer should result in a percentage. Also, distinguish the difference between Revenue and net income and give the four steps of the Accounting Cycle.
In: Economics
Governments have both expenses and
expenditures.
What is the difference between these two terms? Give an example to
help us understand.
What is a special revenue fund? For what purpose are these
used?
Please give at least one APA references
In: Accounting
With the aid of a diagram, discuss the concept of scarcity, opportunity cost and unemployment for a hypothetical economy producing cars and potatoes. 1.2 Define price elasticity of demand and use a diagram to illustrate the relationship between price elasticity of demand and total revenue.
In: Economics
6.
a. The market for coats is perfectly competitive with market supply given by QS= 2500 + 40P and market demand given by QD given by QD= 7500 – 10P. Solve for the equilibrium values of price and quantity. Calculate the values of elasticity of demand and elasticity of supply at the equilibrium.
b. With reference to question 6a, the government imposes a tax of 20% on coats. Calculate the new equilibrium prices and quantity and explain how the burden of the tax is shared between consumers and producers. How much tax revenue is collected?
c. With reference to your answer for part b, suppose that the government had imposed on the producers a license fee (a one time fixed payment) that generated the same revenue for the government as did the tax. What is the new equilibrium value of price and quantity. Explain the difference between the two answers.
In: Economics
Business is booming for banks in Mainland China. The banking industry recorded a strong growth in lending in recent years. According to the findings by the Chinese government, increased lending in local currency was extended mainly to retail customers by Chinese banks while foreign banks focused their lending largely on corporate customers.
(a) Many foreign banks are actively developing their businesses in Mainland China. Critically discuss three major business considerations behind their strategies.
(b) Many local banks in Hong Kong are also pursuing expansion plans in Mainland China. Will this industry trend undermine Hong Kong’s status as an international financial centre? Explain your view in detail.
In: Finance
Customers arrive at a two pump system at Poisson rate two per
hour. An arrival finding the system empty is equally likely to
enter service with either pump. An arrival finding one customer in
the system will enter service with the idle pump. An arrival
finding two others in the system will wait in line for the first
free pump. An arrival finding three in the system will not enter.
Two service times are exponential with rates one per hour and two
per hour, respectively. Once a customer is served by either pump,
he will depart the system.
(a) What is the average number of customers in the system?
(b) What is the average time an entering customer spends in the
system.
In: Statistics and Probability
Required information
[The following information applies to the questions displayed below.]
Following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands):
| Segments | |||||||||||||||||||||||
| Red | Blue | Green | Pink | Black | White | ||||||||||||||||||
| Sales to outside parties | $ | 1,820 | $ | 821 | $ | 523 | $ | 318 | $ | 130 | $ | 108 | |||||||||||
| Intersegment revenues | 25 | 100 | 118 | 0 | 25 | 311 | |||||||||||||||||
| Salary expense | 623 | 388 | 411 | 321 | 326 | 71 | |||||||||||||||||
| Rent expense | 148 | 175 | 90 | 101 | 51 | 40 | |||||||||||||||||
| Interest expense | 74 | 68 | 91 | 58 | 23 | 14 | |||||||||||||||||
| Income tax expense (savings) | 150 | 96 | 70 | (95 | ) | (73 | ) | 0 | |||||||||||||||
Consider the following questions independently. None of the six segments has a primarily financial nature.
a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands.)
c. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer? (Enter your answer in dollars but not in thousands.)
In: Accounting
The following unadjusted trial balance is taken from the ledger of Tim’s Top Business Services on 30 June 2019.
|
Account |
Debit |
Credit |
|||
|
Cash at bank Accounts receivable Prepaid insurance Equipment Accumulated depreciation – equipment Accounts payable Tim Wang, Capital Tim Wang, Drawings Service revenue Wages expense Electricity expense Sundry expense |
$48 000 74 000 24 000 130 000 50 000 130 000 54 000 26 000 |
$60 000 64 000 72 000 340 000
|
|||
|
$536 000 |
$536 000 |
||||
Additional information is also available on 30 June 2019:
Required:
In: Accounting