Flexible Budget for Assembly Department

Steelcase Inc. (SCS) is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department. Assume the following information for the Assembly Department:

Prepare a flexible budget for 70,000, 80,000, and 90,000 filing cabinets for the month ending February 28 in the Assembly Department, similar to Exhibit 5.

According to sales information in the first quarter of 2019, 11% of the new vehicles sold in the United States were hybrids. Let’s assume these statistics remain the same for 2020. That is, 11 percent of the new car sales are hybrids in the first quarter of 2020. For a sample of 52 vehicles sold in the Richmond, Virginia area, what is the probability that:

1. More than 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

2. At least 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

3. Exactly 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

In the Journal of American Pediatric Health researchers report that the weights of healthy babies born in the United States form a distribution that is nearly Normal with an average weight of 7.25 pounds and standard deviation of 1.75 pounds.

(a) [1] What is the probability that a randomly selected a healthy newborn weights less than 8.50 pounds?

(b) [1] What is the probability that a randomly selected a healthy newborn weights between 5.5 and 9 pounds?

(c) [2] What is the minimum weight in order to be the top 15% weighted healthy newborns?

(d) [2] If we randomly selected 16 newborns, describe the distribution of the average weight of this sample newborns. Write down the values of mean and standard deviation for this distribution as well.

(e) [2] Find the probability that the average weight of the randomly selected 16 newborns is greater than 8.1 pounds.

The International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB: www.ifrs.org) has been increasingly adopted around the world. The United States Securities and Exchange Commission (SEC: www.sec.gov ), in 2008, issued the publication: “Roadmap for the Potential use of Financial Statements Prepared in Accordance with International Financial Reporting Standards by US Issuers”. This Roadmap presented necessary steps to be taken for US to adopt IFRS starting 2014 and to be completed by 2016.

Use the Internet and e-library to answer the following questions:

Discuss three differences between the IFRS and the US GAAP.

Do you think that the US is ready economically and financially to adopt the IFRS.

Discuss the potential effects (if any) of the IFRS on the quality of financial reporting in US. Do you think the quality of financial reporting in US will be improved with the application of IFRS?

Q 6       A STUDY WAS CONDUCTED TO DETERMINE IF THERE IS A SIGNIFICANT RELATIONSHIP BETWEEN THE FREQUENCY OF MEAT SERVED AS A MAIN MEAL PER MONTH FOR INDIVIDUALS LIVING IN THE FOUR SECTIONS OF THE UNITED STATES. A QUESTIONAIRE WAS ADMINISTERED TO A RANDOM SAMPLE OF 400 FAMILIES AND THE RESULTS ARE SUMMARIZED BELOW                              
                                      
                                      
                                      
                                      
           FREQUENCY OF MEAT AS A MAIN MEAL PER MONTH                          
       LIVING AREA   LESS THAN 11   11 TO 20   MORE THAN 20   ROW TOTALS              
       EASTERN   46   36   20   102              
       SOUTH    40   40   26   106              
       WESTERN    16   38   38   92              
       NORTH   25   36   39   100              
       COLUMN TOTALS   127   150   123   400              
                                      
       DO THESE SAMPLE RESULTS INDICATE THAT THERE IS A SIFNIFICANT RELATIONSHIP BETWEEN THE FREQUENCY OF MEAT SERVED AS A MAIN MEAL PER MONTH AND GEOGRAPHIC LIVING AT ALPHA = 0.01                              
                                      
                                      

International Trade

The Director of Purchasing for parts distribution company wants to purchase steel coach screws from Germany; however, he is not sure what the best option is. The director comes to you and asks your opinion. You know that Germany, Canada, and Korea are the best sources for obtaining this product. While your research shows coach screws from Germany are of the highest quality, the United States imposes a tariff of 12.5%, which makes this option noncompetitive.

Which US trade laws should you consider when selecting a country?

Is there any way by which you can seek a reduction on the tariff? If so, how? If not, why?

Select an alternative country (Canada or Korea) for purchasing the coach screws and explain your reasons for selecting the country.

The most popular way for international expansion is for a local firm to acquire foreign companies. One of the most benefits for international expansion is global distribution capability that helps expanding the market share. There are different implications of running a company that is within or outside of the European Union. If you were the head of a firm based in the United States, please answer the following questions, providing the rationale behind your answers: Would you seek to acquire a company within the European Union or outside of it? Why? Describe the advantages and disadvantages of the choice you made. Describe the advantages and disadvantages inherent in the option you did not choose. Explain why an MNC may invest funds in a financial market outside its own country. Explain why some financial institutions prefer to provide credit in financial markets outside their own country.

The U.S. Bureau of Labor Statistics released hourly wage figures for various countries for workers in the manufacturing sector. The hourly wage was $30.67 for Switzerland, $20.20 for Japan, and $23.82 for the U.S. Assume that in all three countries, the standard deviation of hourly labor rates is $3.00. Appendix A Statistical Tables a. Suppose 38 manufacturing workers are selected randomly from across Switzerland and asked what their hourly wage is. What is the probability that the sample average will be between $30.00 and $31.00? b. Suppose 34 manufacturing workers are selected randomly from across Japan. What is the probability that the sample average will exceed $21.00? c. Suppose 49 manufacturing workers are selected randomly from across the United States. What is the probability that the sample average will be less than $22.85?

1- How can we respond when we see a looming catastrophe, but bureaucracy disagrees or moves too slowly?

2- How can we as a medical community be less dismissive of the renegade thinkers who are able to see the implications of a clinical problem early?

3- What parallels did you find between what occurred during the early stages of the AIDS pandemic in the United States, and what is happening with regards to the COVID outbreak, today?

4- Bill Gates provided some insight into the risk of a future pandemic. Well, now that pandemic is here. Based on the film and your viewing of his talk, what extraordinary measures/steps should we take in order to stop this pandemic in its tracks, or, at the very least, slow the spike of new cases?

Which one of the following statements is false?

In the United States today, occupational segregation usually refers to