Questions
Young screenwriter Carl Draper has just finished his first script. It has action, drama, and humor,...

Young screenwriter Carl Draper has just finished his first script. It has action, drama, and humor, and he thinks it will be a blockbuster. He takes the script to every motion picture studio in town and tries to sell it but to no avail. Finally, ACME studios offers to buy the script for either (a) $10,000 or (b) 2 percent of the movie’s profits. There are two decisions the studio will have to make. The first is to decide if the script is good or bad; the second is to decide if the movie is good or bad. First, there is a 90 percent chance that the script is bad. If it is bad, the studio does nothing more and throws the script out. If the script is good, it will shoot the movie. After the movie is shot, the studio will review it, and there is a 60 percent chance that the movie is bad. If the movie is bad, the movie will not be promoted and will not turn a profit. If the movie is good, the studio will promote heavily; the average profit for this type of movie is $15.3 million. Carl rejects the $10,000 and says he wants the 2 percent of profits.

What is value of accepting 2 percent of the profits? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32..)

Which payment option should Carl accept?
  • Upfront offer

  • Percentage of the profit

In: Finance

The residents of Flint, Michigan are hoping to show that lead in the pipes is lowering...

The residents of Flint, Michigan are hoping to show that lead in the pipes is lowering the IQ of children in the city and need to have a statistician give evidence at the p<.05 level to do so. They have a psychologist randomly administer IQ tests to 200 children in the town and they find the average IQ of those children is 98. The IQ of children in general is known to have a mean of 100 with a standard deviation of 15.

  1. Restate the question:

    • Population 1:

    • Population 2:

    • Research hypothesis:

    • Null hypothesis:

    • Determine the characteristics of the comparison distribution to compare to sample distribution:

      • μ 1 (Population 1):

      • N (Population 1):

      • μ2 (Population 2):

      • σ2(Population 2):

      • μ2M (Population 2, distribution of means):

      • σ2M (Population 2, distribution of means):

      • Is the distribution of means normally distributed?

      • Why does the distribution of means have a normal distribution, a non-normal distribution, or an unknown distribution?

      • c. Determine the critical value (cutoff score) on the comparison distribution at which the null hypothesis should be rejected

      • Determine the Z score of your sample

      • Decide whether to reject the null hypothesis

      • State the findings in term of the study

      • Calculate the 95% confidence interval for what the true IQ is of children in Flint.

In: Statistics and Probability

You are working the day shift on a medical inpatient unit. You are discussing discharge instructions...

You are working the day shift on a medical inpatient unit. You are discussing discharge instructions with
J.B., an 86-year-old man who was admitted for mitral valve repair. His serum blood glucose had been
averaging 250 mg/dL or higher for the past several months. During this admission, his dosage of insulin
was adjusted and he was given additional education in managing his diet. While you are giving these
instructions, J.B. tells you his wife died 9 months ago. He becomes tearful when telling you about that loss
and the loneliness he has been feeling. He tells you he just doesn't feel good lately, feels sad much of the
time, and hasn't been involved in his normal activities. He has few friends left in the community because
most of them have passed away. He has a daughter in town, but she is busy with her work and grandchildren.
He tells you that he has been feeling so down the past few months that he has had thoughts about
suicide.

Please help me write SBAR for this case study

In: Nursing

The Situation At the board meeting, you give your financial report. You actually have a small...

The Situation At the board meeting, you give your financial report. You actually have a small profit to show for the month on the income statement, but as you are going over that report in the board packet, you notice that all six board members have already turned past the income statement to the accounts receivable report. One board member actually has his mouth open, jaw dropped, and another is looking at you over his glasses. This is not good. Your board members are community representatives; they care about the hospital, and they know how important the hospital is to the town of 35,000 people. They are all very worried. They know what has happened to other communities when their hospitals have failed financially. Everyone in this room has a tremendous stake in the survival and success of the hospital. After you give the accounts receivable report, there is a prolonged silence. You wish somebody would just yell at you and get it over with, but that does not happen. -Come up with a plan to bring AR days back in line. It will take cooperation from the medical staff, the clinical departments, health information management, the business office, and many others, so include how you will involve these departments in devising a solution.

In: Finance

Chrysler Concorde: Acceleration Consumer reports stated that the mean time for a Chrysler Concorde to go...

Chrysler Concorde: Acceleration Consumer reports stated that the mean time for a Chrysler Concorde to go from 0 to 60 miles per hour was 8.7 seconds.

a.) If you want to set up a statistical test to challenge the claim of 8.7 seconds, what would you use for the null hypothesis?

b.) The town of Leadville, Colorado, has an elevation over 10,000 feet. Suppose you wanted to test the claim that the average time to accelerate from 0 to 60 miles per hour is longer in Leadville (because of less oxygen). What would you use as an alternative hypothesis?

c.) Suppose a newer model year Chrysler Concorde came out and you wanted to test whether the average time to accelerate from 0 to 60 miles per hour had changed from the previous year. What would you use as an alternative hypothesis?

d.) Suppose you made an engine modification and you think the average time to accelerate from 0 to 60 miles per hour is reduced. What would you use as an alternative hypothesis?

e.) For each of the tests in parts (b), (c), and (d) , would the P-value area be on the left, on the right, or on both sides of the mean?

In: Statistics and Probability

Re-organize the scrambled accounts into the income statement for Pet Land Inc., a pet food and...

Re-organize the scrambled accounts into the income statement for Pet Land Inc., a pet food and accessories retailer in a small Canadian town.

You will have to calculate Sales Revenue, Cost of Goods Sold, the amount of tax that was paid, the totals for the sections of the statement and determine Gross Margin, Operating Margin, Income Before Tax and Net Income.

Compile Sales Revenue from Gross Sales Revenue and record it on the statement.

Compile the Cost of Goods Sold from the appropriate accounts and add it to the statement. Calculate the Gross Margin and record it on the statement.

List the Operating Expenses on the statement and total it. Calculate the Operating Margin and record it on the statement.

List the Non-operating Expenses on the statement, calculate and record Income Before Tax, calculate and record Taxes and calculate and record Net Income.

Accounts

Values

Cleaning & Maintenance 5,000

Office Supplies

2,000
Discounts 12,300

Fixed Utilities (telephone, heat, hydro)
2,000
Purchases 256,750
Depreciation 15,000
Beginning Inventory 42,500
Taxes @ 34% You calculate
Gross Sales Revenue 697,200
Closing Inventory 33,250
Returns 19,900
Salaries 176,000
Interest Expense 7,000

Advertising & Promotion
25,000
Ending Inventory 33,250

In: Accounting

Brenna's mother recently fell down the lowest step of their front porch while scooping snow, and...

Brenna's mother recently fell down the lowest step of their front porch while scooping snow, and she cracked her ulna. Brenna gets angry at her mother for scooping the snow in the first place when she knows she has osteoporosis and a tendency for falling. Brett hires a snow removal service that will arrive as early as possible after future snows to prevent this from happening again, because they both know that Brenna's mom is going to continue to shovel. She still feels young, and she says her osteoporosis and age aren't holding her back in life.

1. Brenna and Brett both feel that even though Brenna's mother has a history of falling every couple of years, she is overall very healthy compared to others her age. Brett's mom on the other hand is only a few years older and very active in her local community organizations and tennis league.

True or False: Functional status is a better indicator of health in older adults than age, because how they have taken care of themselves over their lifetime greatly affects how they feel and function. Two different 70-year-olds can have completely different health statuses.

a. True
b. False

2. Brenna's parents have lived in the same college town since Brenna was young. This town has so much diversity; it is a melting pot of cultures. Brenna has always loved visiting her parents because she is able to meet up with friends at the various ethnic restaurants around town.

True or False: Younger adults are often advocates of upholding traditional food patterns.

a. True
b. False

3. Brett's weekly phone call with his father has become a graphic rundown of all of his father's bodily functions and ailments. Brett wants the best for his father, but he isn't a fan of the graphic details, nor of his father complaining without changing anything about his nutrition or lifestyle. He did buy a multivitamin the other day at the store, and he's about to open the box, sometime today or tomorrow, to see what it's all about.

Which of the following is NOT an age-associated physiological gastrointestinal system change that affects nutritional status?

a. damaged, less efficient mitochondria resulting in less energy
b. chronic diarrhea and gas
c. dysphagia
d. reduced B12 absorption
e. reduced saliva and mucus production
f. slower peristalsis

4. Brett feels that he can help his father prevent age-related loss of muscle mass. As a physical trainer, Brett has helped many people maintain their fitness, so he wants to help his father, too.

True or False: When comparing young versus older adults, older adults have less protein, water, and fat mass.

a. True
b. False

5. Brett's mother is an active mahjong player at the local library, and one of her mahjong friends has been recommending that the ladies in the league start using supplements. Brett's mother constantly sees supplement ads on television, and she reads in her daily digest magazine that women over 50 years of age should take several different supplements to maintain their health.

Which of the following is an age-related nutrient of concern?

a. vitamin A
b. vitamin E
c. vitamin B12
d. All of these are correct.

6. Brett has been with Mark, one of his good buddies, about his parents' health issues. Mark is a doctor. Mark tells Brett that all he can do is show concern for his parents and offer ways to help them that don't sound like he's putting them down. Maintaining a sense of self is important to aging healthily. Brett hadn't thought of his parents like that.

There are many conditions a person may face in their elder years that affect their nutritional status. Which of the following is a condition that puts older adults at nutritional risk?

a. depression
b. functional disability
c. poverty
d. social isolation
e. All of these are correct.

In: Nursing

The case studies in your course text Operations Management: An Integrated Approach offer glimpses into the...

The case studies in your course text Operations Management: An Integrated Approach offer glimpses into the real world of business operations, allowing for deeper analysis of issues related to operations management, budgeting, and business strategy.

Read the case "Hightone Electronics, Inc.," which begins on page 24 of your text. Then respond to case questions 1 and 2 on page 25.

Case: Hightone Electronics, Inc.

George Gonzales, operations director of Hightone Electronics, Inc. (HEI), sat quietly at the conference table overlooking the lobby of the corporate head-quarters office in Palo Alto, California. He reflected on the board meeting that had just adjourned and the challenge that lay ahead for him. The board had just announced their decision to start an Internet-based division of HEI. Web-based purchasing in the electronics industry had been growing rapidly. The board felt that HEI needed to offer on-line purchasing to its customers in order to maintain its competitive position. The board looked to George to outline the key operations management decisions that needed to be addressed in creating a successful Internet-based business. The next board meeting was just a week away. He had his work cut out for him.
Hightone Electronics, Inc. was founded in Palo Alto, California over 50 years ago. Originally, the company provided radio components to small repair shops. Products were offered for sale through a catalog that was mailed to prospective customers every four months. The company built its reputation on high quality and service. As time passed, HEI began supplying more than just radio parts, adding items such as fuses, transformers, computers, and electrical testing equipment. The expansion of the product line had been coupled with an increase in the number and type of customers the company served. Although the traditional repair shops still remained a part of the company's market, technical schools, universities, and well-known corporations in the Silicon Valley were added to the list of customers.

Today HEI operates the Palo Alto facility with the same dedication to supplying quality products through catalog sales that it had when it was first founded. Customer service remains the top priority. HEI stocks and sells over 22,000 different items. Most customers receive their orders within 48 hours, and all components are warranted for a full year.

Expanding HEI to include Web-based purchasing seems to be a natural extension of catalog sales that the company already does successfully. George Gonzales agrees that the company has no choice but to move in this competitive direction. However, George does not agree with the opinion of the board that this would be "business as usual." He believes that there are many operations decisions that need to be identified and addressed. As he stated in the meeting, "Having a slick Web site is one thing, but making sure the right product is delivered to the right location is another. Operations is the key to making this happen." His challenge for the next board meeting was to identify the key operations decisions and persuade the board that these issues needed serious consideration.

Case Questions

1. Explain why operations management is critical to the success of a business. Why would developing an Internet-based business require different operations considerations for HEI? Is George Gonzales correct in his assessment that this would not be "business as usual"?

2. Recall that HEI wishes to continue its reputation of high quality and service. Identify key operations management decisions that need to be considered. How different will these decisions be for the Internet business?

In: Operations Management

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe...

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any significant inventories of the specialized assets that he sells. Joe reported the following financial information for his business activities during year 0.

Determine the effect of each of the following transactions on the taxable business income.

Required:

  1. Joe has signed a contract to sell gadgets to the city. The contract provides that sales of gadgets are dependent upon a test sample of gadgets operating successfully. In December, Joe delivers $11,550 worth of gadgets to the city that will be tested in March. Joe purchased the gadgets especially for this contract and paid $8,550.
  2. Joe paid $185 for entertaining a visiting out-of-town client. The client didn’t discuss business with Joe during this visit, but Joe wants to maintain good relations to encourage additional business next year.
  3. On November 1, Joe paid $410 for premiums providing for $41,000 of “key man” insurance on the life of Joe’s accountant over the next 12 months.
  4. At the end of year 0, Joe’s business reports $9,150 of accounts receivable. Based upon past experience, Joe believes that at least $2,030 of his new receivables will be uncollectible.
  5. In December of year 0, Joe rented equipment to complete a large job. Joe paid $3,150 in December because the rental agency required a minimum rental of three months ($1,050 per month). Joe completed the job before year-end, but he returned the equipment at the end of the lease.
  6. Joe hired a new sales representative as an employee and sent her to Dallas for a week to contact prospective out-of-state clients. Joe ended up reimbursing his employee $310 for airfare, $360 for lodging, and $260 for meals $160 (Joe provided adequate documentation to substantiate the business purpose for the meals). Joe requires the employee to account for all expenditures in order to be reimbursed.
  7. Joe uses his BMW (a personal auto) to travel to and from his residence to his factory. However, he switches to a business vehicle if he needs to travel after he reaches the factory. Last month, the business vehicle broke down and he was forced to use the BMW both to travel to and from the factory and to visit work sites. He drove 125 miles visiting work sites and 48 miles driving to and from the factory from his home. Joe uses the standard mileage rate to determine his auto-related business expenses.
  8. Joe paid a visit to his parents in Dallas over the Christmas holidays. While he was in the city, Joe spent $55 to attend a half-day business symposium. Joe paid $210 for airfare, $54 for meals during the symposium, and $23 on cab fare to the symposium.

  (For all the transactions, select "No Effect" from the dropdown if no change in the taxable business income and for part g, round your answer to whole number. Use standard mileage rate.)

      

In: Accounting

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe...

Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn’t keep any significant inventories of the specialized assets that he sells. Joe reported the following financial information for his business activities during year 0. Determine the effect of each of the following transactions on the taxable business income. Required: Joe has signed a contract to sell gadgets to the city. The contract provides that sales of gadgets are dependent upon a test sample of gadgets operating successfully. In December, Joe delivers $12,950 worth of gadgets to the city that will be tested in March. Joe purchased the gadgets especially for this contract and paid $9,250. Joe paid $255 for entertaining a visiting out-of-town client. The client didn’t discuss business with Joe during this visit, but Joe wants to maintain good relations to encourage additional business next year. On November 1, Joe paid $550 for premiums providing for $55,000 of “key man” insurance on the life of Joe’s accountant over the next 12 months. At the end of year 0, Joe’s business reports $11,250 of accounts receivable. Based upon past experience, Joe believes that at least $2,450 of his new receivables will be uncollectible. In December of year 0, Joe rented equipment to complete a large job. Joe paid $5,250 in December because the rental agency required a minimum rental of three months ($1,750 per month). Joe completed the job before year-end, but he returned the equipment at the end of the lease. Joe hired a new sales representative as an employee and sent her to Dallas for a week to contact prospective out-of-state clients. Joe ended up reimbursing his employee $450 for airfare, $500 for lodging, and $400 for meals (Joe provided adequate documentation to substantiate the business purpose for the meals). Joe requires the employee to account for all expenditures in order to be reimbursed. Joe uses his BMW (a personal auto) to travel to and from his residence to his factory. However, he switches to a business vehicle if he needs to travel after he reaches the factory. Last month, the business vehicle broke down and he was forced to use the BMW both to travel to and from the factory and to visit work sites. He drove 195 miles visiting work sites and 76 miles driving to and from the factory from his home. Joe uses the standard mileage rate to determine his auto-related business expenses. Joe paid a visit to his parents in Dallas over the Christmas holidays. While he was in the city, Joe spent $125 to attend a half-day business symposium. Joe paid $350 for airfare, $110 for meals during the symposium, and $65 on cab fare to the symposium.

In: Accounting