The following two claims are made by salesmen about newly invented 2-phase adiabatic compressors.
Salesman A: "It can compress steam with a quality of 0.2 from 50 kPa to saturated liquid at 1000 kPa."
Salesman B: "It can compress steam with a quality of 0.2 from 50 kPa to saturated liquid at 3000 kPa."
a. Show both claims on a T-?̂ (temperature vs. specific entropy) diagram.
b. Which claim or claims are possible?
c. Which claim or claims are impossible?
In: Civil Engineering
For the following exercises, graph the functions for two periods and determine the amplitude or stretching factor, period, midline equation, and asymptotes.
f(x) = 0.2cos(0.1x) + 0.3
In: Advanced Math
Problem 11-15
Risky Cash Flows
The Bartram-Pulley Company (BPC) must decide between two mutually exclusive investment projects. Each project costs $7,000 and has an expected life of 3 years. Annual net cash flows from each project begin 1 year after the initial investment is made and have the following probability distributions:
| PROJECT A | PROJECT B | ||
| Probability | Net Cash Flows |
Probability | Net Cash Flows |
| 0.2 | $6,000 | 0.2 | $ 0 |
| 0.6 | 6,750 | 0.6 | 6,750 |
| 0.2 | 7,000 | 0.2 | 16,000 |
BPC has decided to evaluate the riskier project at a 13% rate and the less risky project at a 8% rate.
| Project A | Project B | |
| Net cash flow | $ | $ |
| σ (to the nearest whole number) | CV (to 2 decimal places) | |
| Project A | $ | |
| Project B | $ |
| Project A | $ | |
| Project B | $ |
In: Finance
Consider the following time series data.
| Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Value | 25 | 14 | 21 | 13 | 20 | 24 | 16 |
(a)
Construct a time series plot.
What type of pattern exists in the data?
The data appear to follow a seasonal pattern.
The data appear to follow a cyclical pattern.
The data appear to follow a trend pattern.
The data appear to follow a horizontal pattern.
(b)
Develop the three-month moving average forecasts for this time series.
| Month | Time Series Value |
Forecast |
|---|---|---|
| 1 | 25 | |
| 2 | 14 | |
| 3 | 21 | |
| 4 | 13 | _____ |
| 5 | 20 | ______ |
| 6 | 24 | ______ |
| 7 | 16 | _____ |
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for month 8?
(c)Use α = 0.2 to compute the exponential smoothing forecasts for the time series. (Round your answers to two decimal places.)
| Month | Time Series Value |
Forecast |
|---|---|---|
| 1 | 25 | |
| 2 | 14 | ____ |
| 3 | 21 | _____ |
| 4 | 13 | _____ |
| 5 | 20 | _____ |
| 6 | 24 | ______ |
| 7 | 16 | _____ |
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for month 8? (Round your answer to two decimal places.)
(d)Compare the three-month moving average approach with the exponential smoothing approach using α = 0.2. Which appears to provide more accurate forecasts based on MSE?
The exponential smoothing using α = 0.2 provides a better forecast since it has a smaller MSE than the three-month moving average.
The three-month moving average provides a better forecast since it has a smaller MSE than the exponential smoothing using α = 0.2.
The exponential smoothing using α = 0.2 provides a better forecast since it has a larger MSE than the three-month moving average.
The three-month moving average provides a better forecast since it has a larger MSE than the exponential smoothing using α = 0.2.
In: Statistics and Probability
At a company picnic at a state park out of town, a child falls from a tree and fractures her forearm. You give appropriate first aid (RICE), and the parents now will take her to the nearest emergency department.
Should you splint the arm?
If so, describe the steps for doing it.
In: Nursing
Disney raises theme park ticket prices, again. You've got to pay more to play in the Magic Kingdom, because Walt Disney just raised its ticket prices again, breaking the $100 mark. A one-day ticket to the Walt Disney World Resort's flagship theme park, the Magic Kingdom, now costs $105, up from $99. Prices had been jacked up by $4 just last year. The price of admission applies to anyone 10 years and older entering the Orlando-area theme park. Younger children, aged 3 to 9, pay $99 to enter the Magic Kingdom, compared to $94 last year. Prices also increased for the other Disney World theme parks -- EPCOT, the Animal Kingdom Park and Hollywood Studios -- to $97 for visitors aged 10 and older, compared to $94 last year. Children aged 3 to 10 now pay $91 for a single-day ticket to those parks, compared to $88 last year. The price hikes seem to be working for parent company Walt Disney World Resorts, which reported a 7% increase in revenue year-over-year, largely from its parks. "Increased guest spending was primarily due to higher average ticket prices for admissions at our theme parks," Walt Disney Company (DIS) said in a financial report. A Disney spokeswoman said the "vast majority" of visitors buy the multi-day passes, which can knock the price down to $96 per day for a two-day ticket, or $63 per day for a five-day ticket. She also said that a ticket for a single day at Walt Disney World buys 16 hours of entertainment.
1. What is the price of a one-day ticket to the Magic Kingdom?
2. Given the income elasticity of demand how do we know if a trip to Disney World is a normal good or an inferior good?
3. The news article tells us that with ticket prices rising, revenue is increasing. What does this tell us about the price elasticity of demand of a trip to Disney World?
In: Economics
Marketing assignment
The Inn at Prescott Ranch is a small, boutique hotel located in Prescott, Arizona. It opened in 1998. The Inn has identified the main competition as the Prescott Resort, owned and operated by the Yavapai Nation, and the Hassayampa Inn, a historic hotel in downtown Prescott, adjacent to Whiskey Row.
The Inn has 65 rooms on two floors—each with a private balcony. The nightly room rates are the highest in Prescott. The Inn offers a full array of amenities—both in the public areas and in the rooms. The Inn offers complimentary van service to the Gateway Mall, Bucky’s Casino, and Whiskey Row; and valet parking services with covered parking. There is nightly entertainment in the lobby. In-room amenities include high-thread-count linens; terry robes; organic soaps and toiletries; flat-screen TVs with DVD players; and Bose® stereo systems.
The Inn maintains a full bar and has an agreement with Wildflower Bakery to provide daily continental breakfast for an additional charge to nightly rates or included in the Bed & Breakfast Special. Boxed lunches may also be pre-ordered from Wildflower Bakery. The Inn is not “flagged” or branded. The management is highly involved in local organizations. There is an existing contract with Yavapai College for sponsorship of its performing arts series with Paramount Studies for a project being filmed in the Prescott area. In addition, the Inn at Prescott Ranch has been featured on Arizona Highways TV, Arizona Highways magazine, and in the Arizona Republic travel section. The Inn also participates in the local chamber of commerce and tourism promotional efforts for the Prescott area.
Management is looking for a marketing plan for 2011.
Questions:
1. If you were preparing a marketing plan for this hotel, how would you describe the company, its positioning strategy, and its value proposition?
2. What do you want to know about the market—demographics and psychographics?
3. Describe each of the 4Ps.
4. Without doing further research, who is the perceived target market?
5. Does the hotel have a brand image? If so, define.
In: Operations Management
The Getz Products Company is investigating the possibility of producing and marketing backyard storage sheds. Undertaking this project would require the construction of either a large or small manufacturing plant. The market for the product produced – storage sheds - could be either favorable or unfavorable. Getz, of course, has the option of not developing the product at all.
With a favorable market, a large facility would give Getz a net profit of $200,000. If the market is unfavorable, a $180,000 net loss would occur. A small plant would result in a net profit of $100,000 in a favorable market, but a net loss of $20,000 would be encountered if the market was unfavorable.
Getz Products’ POM manager believes that the probability of a favorable market is the same as that of an unfavorable market (.50/.50)
Suppose that Getz could have their marketing department perform a survey at a cost of $10,000. Getz would then use the results of the survey to decide whether to build a large plant or a small plant, or not to build at all
If the company decides not to conduct the survey, the probabilities and payoffs given previously apply.
If the company decides to conduct the survey, it will result in either a favorable or unfavorable forecast.
If the forecast is favorable, the probability of the market actually being favorable is 0.78, the probability of the market being unfavorable is 0.22. If a large plant is then built, the final result would be a net profit of $190,000 with a favorable market and a net loss of $190,000 with an unfavorable market. If a small plant is built, the final result would be a net profit of $90,000 with a favorable market and a net loss of $30,000 with an unfavorable market. If no plant is built the net loss will be $10,000 (the cost of the forecast survey).
If the forecast is unfavorable, the probability of the market actually being favorable is 0.27, the probability of the market being unfavorable is 0.73. The final results would be the same as above: if a large plant is then built, the final result would be a net profit of $190,000 with a favorable market and a net loss of $190,000 with an unfavorable market. If a small plant is built, the final result would be a net profit of $90,000 with a favorable market and a net loss of $30,000 with an unfavorable market. If no plant is built the net loss will be $10,000 (the cost of the forecast survey).
We estimate the probability of a favorable survey to be 0.45 and the probability of an unfavorable survey to be 0.55.
Draw and Solve a Decision Tree to determine the best plan for Getz.
In: Statistics and Probability
Find the mean and standard deviation of the following probability distribution. x 0 0.8 1 2.3 3 P(x) 0.27 0.18 0.06 0.19 0.30
In: Statistics and Probability
Construct the confidence interval for the population standard deviation for the given values. Round your answers to one decimal place.
n=20, s=3.9, and c=0.8
In: Statistics and Probability