Which of the following is NOT an assumption of the traditional economic order quantity (EOQ) model?
a. Holding and ordering costs are stable and known.
b. Demand is constant and known.
c. Supply lead time is constant and known.
d. Quantity discounts are possible.
Kim’s Nail Salon uses a weighted moving average method to forecast demand. She assigns a weight of 5 to the previous month’s demand, 3 to demand two months ago, and 2 to demand three months ago. If demand was 800 customers in April, 900 customers in May, 1,200 customers in June, and 2,000 customers in July, what should her forecast for August be?
a. 1,540
b. 910
c. 1,400
d. 1,210
Statewide Insurers receives 600 applications per month. Currently, there are 60 applications in the Reception area and 140 applications with the Underwriting team. How long does Receiving take to process an application? Assume that there are 20 working days per month.
a. 2 days
b. 3 days
c. 7 days
d. 10 days
Based on experience, the manager at the Giraffe Hotel decides to accept a reservation for a party of 12 guests knowing that his hotel is sold out. He is accepting the reservation because:
a. he can cancel the reservations of the 12 lowest-paying guests and get more revenue from the new guests
b. he can make arrangements with the neighboring hotel to accept the 12 guests
c. he is using overbooking techniques and has determined that he can safely accept the 12 guests
d. he knows he will have 6 cancellations and 6 no-shows among the current reservations
A manufacturing firm finds a location using the center of gravity method but rejects that location because they are unable to efficiently transport the finished goods to market. The firm’s action illustrates the link between __________ and location.
a. proximity
b. clustering
c. infrastructure
d. globalization
In: Other
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1. A 335-room hotel property recorded in 2004 a 66.6% occupancy and an ADR of $117.98. What is the property’s franchise fee (1) on a per available room basis and (2) as a percentage of rooms revenue if the agreement required the hotel to pay a reservation fee of $7.65 per available room per month; a royalty fee of 5% of rooms revenue; an advertising fee of 2.3% of rooms revenue; and a frequent traveler program fee of $5.00 per occupied room. The hotel had frequent stay guests totaling 6% of the occupied rooms. The initial fee is a minimum of $45,000 plus $300 per room for each room over 150. Please calculate annual room revenue (round to a whole number) $ ___ 2. Please use the information from Question 1 to calculate the Royalty Fee. Royalty fee (round to a whole number) $ ___ 3.Please use the information from Question 1 to calculate the Reservation Fee. Reservation fee (round to a whole number) $ ___
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In: Accounting
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In: Accounting
Chapter 2 Mastery Problem
The T – Accounts are set up for you in the excel spreadsheet.
Hassan Rahim won a concession to rent bicycles in the local park during the summer. During the month of June, Hassan completed the following transactions for his bicycle rental business:
Chart of Accounts
| Cash | Hassan Rahim Capital |
| Accounts Receivable | Hassan Rahim, Withdrawals |
| Supplies | Rental Income |
| Shed | Wages Expense |
| Bicycles | Maintenance Expense |
| Accounts Payable | Repair Expense |
| Concession Fee Expense |
| June | 2 | Began business by placing $7,200 in a business checking account. |
| 3 | Purchased supplies on account, $150 | |
| 4 | Purchased 10 Bicycles for $2,500, paying $1,200 down and agreeing to pay the rest in thirty days. | |
| 5 | Purchased for cash a small shed to hold the bicycles and to use for other operations, $2,900 | |
| 6 | Paid cash for shipping and installation costs (considered as an addition to the cost of the shed) to place the shed at the park entrance, $400. | |
| 8 | Received cash of $470 for rentals during the first week of operation. | |
| 13 | Hired a part-time assistant to help out on weekends at $7.50 per hour | |
| 14 | Paid a maintenance person to clean the grounds, $75. | |
| 15 | Received cash, $500, for rentals during the second week of operation. | |
| 16 | Paid the assistant for a weekend’s work, $150. | |
| 20 | Paid for the supplies purchased on June 3, $150. | |
| 21 | Paid repair bill on bicycles, $55. | |
| 22 | Received cash for rentals during the third week of operation, $550. | |
| 23 | Paid the assistant for a weekend’s work, $150. | |
| 26 | Billed a company for bicycle rentals for an employee outing, $110 | |
| 27 | Paid the fee for June to the Park District for the right to the bicycle concession, $100. | |
| 28 | Received cash for rentals during the week, $410. | |
| 29 | Paid the assistant for a weekend’s work, $150. | |
| 30 | Transferred $500 to personal checking account. |
In: Accounting
In C++
All guests in ABC Hotel are either Elite members (meaning they get a free breakfast) or Standard members (meaning they do not get a free breakfast). They collect points for every stay-Elite members earn 100 points for every day stayed in the hotel (so 2 days would be 200 points) and Standard member earns 50 points for every stay (so 3 days would be 140 points). Once 1000 points are reached, guests get a free stay. Guest details are kept in a file:
Sample input file1: Augustus, E-300,200, eggs//customer name, Membership level (E means elite), item ordered, ID number, points, breakfast choice
Sample input file2: Cyrus, S-100,30,x//customer name, Membership level(S means standard), item ordered, ID number, points, breakfast choice
1.The program should read in the number of points to get a free stay (1000) from the command line. It should continuously read in files of guests until the exit is entered (meaning the user can keep typing in file names-note that you can type in the same file name to open a previous guest).
2.Every time a file is opened, the program should ask how many days the guest is staying and award the appropriate number of points based on the membership level. The new point total should be saved in the file. If they are an elite member, they have the chance to change their breakfast choice.
3.When exiting, a file should be output with the number of guests that got a free stay (meaning their total points were 1000 or greater)
Sample output file:
Augustus had a free stay.
Jane had a free stay.
4.You should make a Hotel class and an abstract Person class. You should also make additional classes as necessary.
In: Computer Science
Your BANA II professor is going on vacation. He has narrowed down a list of potential hotels, but he is still overwhelmed by the data. He loves great food and wants to do all the activities at the resort. Refer to the attached Excel workbook to complete the following 2 questions: 1. Develop two unique ways to display the data (two unique types of charts) to show him where he should stay. Save the graphs in the Blackboard Midterm Tab. Make sure to label and describe the data in the chart. Be creative and impress your professor. 2. Recommend the best way to present the data. Write a narrative summary of what hotel you recommend based on the data visualization and the tradeoffs that you observe.
| Hotel | Overall | Comfort | Amenities | In-House Dining |
| Muri Beach Odyssey | 94.3 | 94.5 | 90.8 | 97.7 |
| Pattaya Resort | 92.9 | 96.6 | 84.1 | 96.6 |
| Sojourner’s Respite | 92.8 | 99.9 | 100 | 88.4 |
| Spa Carribe | 91.2 | 88.5 | 94.7 | 97 |
| Penang Resort and Spa | 90.4 | 95 | 87.8 | 91.1 |
| Mokihana Hōkele | 90.2 | 92.4 | 82 | 98.7 |
| Theo’s of Cape Town | 90.1 | 95.9 | 86.2 | 91.9 |
| Cap d’Agde Resort | 89.8 | 92.5 | 92.5 | 88.8 |
| Spirit of Mykonos | 89.3 | 94.6 | 85.8 | 90.7 |
| Turismo del Mar | 89.1 | 90.5 | 83.2 | 90.4 |
| Hotel Iguana | 89.1 | 90.8 | 81.9 | 88.5 |
| Sidi Abdel Rahman Palace | 89 | 93 | 93 | 89.6 |
| Sainte-Maxime Quarters | 88.6 | 92.5 | 78.2 | 91.2 |
| Rotorua Inn | 87.1 | 93 | 91.6 | 73.5 |
| Club Lapu-Lapu | 87.1 | 90.9 | 74.9 | 89.6 |
| Terracina Retreat | 86.5 | 94.3 | 78 | 91.5 |
| Hacienda Punta Barco | 86.1 | 95.4 | 77.3 | 90.8 |
| Rendezvous Kolocep | 86 | 94.8 | 76.4 | 91.4 |
| Cabo de Gata Vista | 86 | 92 | 72.2 | 89.2 |
| Sanya Deluxe | 85.1 | 93.4 | 77.3 | 91.8 |
In: Statistics and Probability
You are considering buying a store. In order to better access your return on the investment, you must ask the storeowner for the figures on days when
| a. |
Sales are high, costs are low |
|
| b. |
Sales are low, costs are high |
|
| c. |
Both sales and costs are high |
|
| d. |
All of the above |
QUESTION 2
At a carnival roulette wheel, a player can either win $10, $30, or $80. At what cost of play should the player expect the wheel to be fair?
| a. |
$30 |
|
| b. |
$10 |
|
| c. |
$40 |
|
| d. |
$20 |
QUESTION 3
Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values $20, $20, $40, and $40 respectively. The expected value is:
| a. |
$28 |
|
| b. |
$26 |
|
| c. |
$24 |
|
| d. |
$22 |
QUESTION 4
We worry that false negatives occur too often relative to false positives due to
| a. |
Managers having an incentive to make a false negative conclusion because they are harder for superiors to observe |
|
| b. |
They are not too common |
|
| c. |
It being appropriate to set a high standard for acceptance of a hypothesis |
|
| d. |
Most hypotheses being false |
QUESTION 5
Four possibilities are equally likely and have payoffs of $2, $4, $6, and $8. The expected value is:
| a. |
$5 |
|
| b. |
$7 |
|
| c. |
$8 |
|
| d. |
$6 |
In: Economics
Investment advisors estimated the stock market returns for four market segments: computers, financial, manufacturing, and pharmaceuticals. Annual return projections vary depending on whether the general economic conditions are improving, stable, or declining. The anticipated annual return percentages for each market segment under each economic condition are as follows:
| Economic Condition | |||
| Market Segment | Improving | Stable | Declining |
| Computers | 10 | 2 | -4 |
| Financial | 8 | 5 | -3 |
| Manufacturing | 8 | 4 | -2 |
| Pharmaceuticals | 6 | 5 | -1 |
| (a) | Assume that an individual investor wants to select one market segment for a new investment. A forecast shows improving to declining economic conditions with the following probabilities: improving 0.4, stable 0.2, and declining 0.4. What is the preferred market segment for the investor? |
| - Select your answer -ComputersFinancialsManufacturingPharmaceuticalsItem 1 | |
| What is the expected return percentage? Round your answer in one decimal place. | |
| Expected Return = % | |
| (b) | At a later date, a revised forecast shows a potential for an improvement in economic conditions. New probabilities are as follows: improving 0.6, stable 0.2, and declining 0.2. What is the preferred market segment for the investor based on these new probabilities? |
| - Select your answer -ComputersFinancialsManufacturingPharmaceuticalsItem 3 | |
| What is the expected return percentage? Round your answer in one decimal place. | |
| Expected Return = % |
In: Finance
The Markov Model on Excel tab depicts the population of Warrant Officers in the Marine Corps. A Warrant Officer is individual who has spent considerable enlisted time acquiring a high level of expertise in an occupational specialty and is awarded an officer’s commission to fill various leadership roles in that community. There are five grades (WO-CWO5). In the system we model here, there are three absorbing states. Two are self-explanatory (resign, retire) but the other is transition/promotion to Limited Duty Officer (LDO). This just means that they leave this particular system and become Lieutenants or Captains with certain restrictions on the billets they can hold. The matrix indicates the annual transition probabilities between states.
EXCEL tab is given as:
| WO | CWO2 | CWO3 | CWO4 | CWO5 | LDO | Retire | Resign | |
| WO | 0.68 | 0.2 | 0 | 0 | 0 | 0 | 0 | 0.12 |
| CWO2 | 0 | 0.65 | 0.23 | 0 | 0 | 0.08 | 0.01 | 0.03 |
| CWO3 | 0 | 0 | 0.64 | 0.26 | 0 | 0.07 | 0.02 | 0.01 |
| CWO4 | 0 | 0 | 0 | 0.7 | 0.2 | 0.02 | 0.08 | 0 |
| CWO5 | 0 | 0 | 0 | 0 | 0.87 | 0 | 0.13 | 0 |
| LDO | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Retire | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Resign | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
Suppose the inventory for this community on 30 September 2017 was the following:
WO: 700
CWO2: 400
CWO3: 320
CWO4: 250
CWO5: 300
Assume the following r vector: r = [ 1 0 0 0 0 ]
a. As the restricted officer inventory planner, you are charged with attaining the following strength targets for this community for the next four years:
FY18: 2100; FY19: 2200; FY20: 2300; FY21: 2350; FY22: 2400
What should the number of accessions (re-enlistments from the first term population) be each year in order to achieve these targets?
b. Let R = 280 for an indefinite number of years. What is the (entire) long-term or steady-state inventory vector?
c. What is the expected Time In Grade for CWO3?
d. What proportion of CWO3s ever become LDOs?
e. What is probability that a Marine in this community ever becomes a CWO5, given they achieved the rank of CWO2?
f. What is the probability that a particular CWO2 retires in the next year?
g. What is the probability that a member ever retires, given that she attains the rank of CWO3?
h. Consider the transition matrix used in Question above ( Excel Tab ). Suppose you calculated it from last four years of behavior (i.e. 2014, 2015, 2016, and 2017). Describe in words how you would go about validating that the transition probabilities over this time-frame are stationary. What remedial action do you take if you find insufficient evidence to conclude the transition probabilities are stationary?
In: Statistics and Probability
Givent that the molecular mass of ethyl alcohol is 46 g/mol and that of water is 18 g/mol, how many grams of wthyl alcohol must be mixed with 100 mL of watre for the mole fraction of ethyl alcohol to be 0.2?
In: Chemistry