QUESTION 1
Use the following scenario and data for all questions
An auto service center provides two types of services, Tire
Replacement (T) and Oil Change (O). About 30% of the customers are
for Tire Replacement and the other 70% are for Oil Change. All
customers are serviced on a first come first served basis. During
regular hours, customers arrive at the service center according to
the probability distribution in the following table
Two technicians are working at the service center and both of them
are skillful enough for both Tire Replacement and Oil Change. Once
finishing the job for a customer, a technician will take care of
the next customer waiting in line. When both technicians are idle,
the one who finished the last job earlier will take care of the
next incoming customer. The times taken by the two jobs by any of
the technicians follow the probability distributions in the
following tables. You are required to simulate the operations of
the auto service center for 15 customers.
Before answering the following questions, you may use the following
tables to determine the cumulative probability distributions and
assign random number intervals for customer arrivals, customer
service types, and time needed for both types of services.
You may also simulate the operations of this auto service center
for the 15 customers using the random numbers given in the
following table. The “Start Time” is the time point when the job
for the customer starts and the “Finish Time" is the time point
when the job for the customer finishes.
For customer arrivals, the random number interval assigned to the
Time between Arrivals of 5 minutes is
|
0.0000-0.1499 |
||
|
0.1500-0.3999 |
||
|
0.4000-0.7999 |
||
|
0.8000-0.9999 |
||
|
None of the above |
1 points
QUESTION 2
For customer arrivals, the random number interval assigned to the Time between Arrivals of 15 minutes is
|
0.0000-0.1499 |
||
|
0.1500-0.3999 |
||
|
0.4000-0.7999 |
||
|
0.8000-0.9999 |
||
|
None of the above |
1 points
QUESTION 3
For the Customer Service Type, the random number interval assigned to Tire Replacement is
|
0.0000-0.6999 |
||
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0.0000-0.2999 |
||
|
0.2999-0.9999 |
||
|
0.3000-0.9999 |
||
|
None of the above |
1 points
QUESTION 4
For the Customer Service Type, the random number interval assigned to Oil Change is
|
0.0000-0.6999 |
||
|
0.0000-0.2999 |
||
|
0.2999-0.9999 |
||
|
0.3000-0.9999 |
||
|
None of the above |
1 points
QUESTION 5
For the Tire Replacement, the random number interval assigned to Service Time 25 minutes is
|
0.0000-0.1999 |
||
|
0.2000-0.4499 |
||
|
0.4500-0.8499 |
||
|
0.8500-0.9999 |
||
|
None of the above |
1 points
QUESTION 6
For the Tire Replacement, the random number interval assigned to Service Time 35 minutes is
|
0.0000-0.1999 |
||
|
0.2000-0.4499 |
||
|
0.4500-0.8499 |
||
|
0.8500-0.9999 |
||
|
None of the above |
1 points
QUESTION 7
For the Oil Change, the random number interval assigned to the Service Time 15 minutes is
|
0.0000-0.2999 |
||
|
0.3000-0.6999 |
||
|
0.7000-0.8999 |
||
|
0.9000-0.9999 |
||
|
None of the above |
In: Operations Management
Once the independent and dependent variables are identified correctly, regression analysis is often thought of as a Three Step Process:
How would you explain this three step process to someone who has no knowledge of regression analysis?
In: Statistics and Probability
What is the difference between a call and a put option? (Be clear in your answer.) What does the exercise—or strike—price denote? Of the five inputs discussed, what are three important inputs in the Black-Scholes option pricing model? For each of the three that you have chosen, what happens to the call option premium, all else being equal, when that variable increases?
In: Finance
A firm has narrowed down the search for its new plant location to three locations. The fixed and variable costs for each of the three locations are as given below:
|
Location |
Fixed Cost |
Variable Cost |
|
A |
$100,000 |
$10 |
|
B |
$150,000 |
$7 |
|
C |
$200,000 |
$5 |
The break-even quantity between C and B is more than 20,000 units.
True
False
In: Operations Management
0.170g of caffeine is dissolved in 10.0mL of water. The caffeine is extracted from the aqueous solution three times with 5.0-mL portions of methylene chloride. Calculate the total amount of caffeine that can be extracted into three portions of methylene chloride. Caffeine has a distribution coefficient of 4.6 between methylene chloride and water.
Please explain throughoutly. This is my first time working with extraction question
In: Chemistry
What are the similarities and differences between the conventional waterfall model and the Unified Process model? Identify and explain three advantages and three disadvantages of each of these two models.
combines below questions together too
Explain in an essay why the waterfall process is a process for solving tame problems. also Explain in an essay how agile development tackles application software development as a wicked problem.
In: Computer Science
Three bullets are fired simultaneously by three guns aimed toward the center of a circle where they mash into a stationary lump. The angle between the guns is 120°. Two of the bullets have a mass of 4.30 10-3 kg and are fired with a speed of 257 m/s. The third bullet is fired with a speed of 559 m/s and we wish to determine the mass of this bullet in kg
In: Physics
In: Economics
The lifetime of a certain type of battery is normally distributed with a mean of 1000 hours and a standard deviation of 100 hours. Find the probability that a randomly selected battery will last between 950 and 1000 (round answers to three decimal places, example 0.xxx)?
The lifetime of a certain type of battery is normally distributed with a mean of 1000 hours and a standard deviation of 100 hours. Find the probability that a randomly selected battery will last 1070 hours or less (round answers to three decimal places, example 0.xxx)?
The lifetime of a certain type of battery is normally distributed with a mean of 1000 hours and a standard deviation of 100 hours. Find the probability that a randomly selected battery will last 930 or less (round answers to three decimal places, example 0.xxx)?
The lifetime of a certain type of battery is normally distributed with a mean of 1000 hours and a standard deviation of 100 hours. Find the probability that a randomly selected battery will last between 1000 and 1150 hours (round answers to three decimal places, example 0.xxx)?
In: Statistics and Probability
Santana Rey created Business Solutions on October 1, 2020. The
company has been successful, and its list of customers has grown.
To accommodate the growth, the accounting system is modified to set
up separate accounts for each customer. The following chart of
accounts includes the account number used for each account and any
balance as of December 31, 2020. Santana Rey decided to add a
fourth digit with a decimal point to the 106 account number that
had been used for the single Accounts Receivable account. This
change allows the company to continue using the existing chart of
accounts.
| No. | Account Title | Debit | Credit | ||||
| 101 | Cash | $ | 48,472 | ||||
| 106.1 | Alex’s Engineering Co. | 0 | |||||
| 106.2 | Wildcat Services | 0 | |||||
| 106.3 | Easy Leasing | 0 | |||||
| 106.4 | IFM Co. | 3,120 | |||||
| 106.5 | Liu Corp. | 0 | |||||
| 106.6 | Gomez Co. | 2,808 | |||||
| 106.7 | Delta Co. | 0 | |||||
| 106.8 | KC, Inc. | 0 | |||||
| 106.9 | Dream, Inc. | 0 | |||||
| 119 | Merchandise inventory | 0 | |||||
| 126 | Computer supplies | 620 | |||||
| 128 | Prepaid insurance | 2,097 | |||||
| 131 | Prepaid rent | 885 | |||||
| 163 | Office equipment | 8,030 | |||||
| 164 | Accumulated depreciation—Office equipment | $ | 210 | ||||
| 167 | Computer equipment | 20,900 | |||||
| 168 | Accumulated depreciation—Computer equipment | 1,090 | |||||
| 201 | Accounts payable | 1,260 | |||||
| 210 | Wages payable | 620 | |||||
| 236 | Unearned computer services revenue | 1,340 | |||||
| 307 | Common stock | 72,952 | |||||
| 318 | Retained earnings | 9,460 | |||||
| 319 | Dividends | 0 | |||||
| 403 | Computer services revenue | 0 | |||||
| 413 | Sales | 0 | |||||
| 414 | Sales returns and allowances | 0 | |||||
| 415 | Sales discounts | 0 | |||||
| 502 | Cost of goods sold | 0 | |||||
| 612 | Depreciation expense—Office equipment | 0 | |||||
| 613 | Depreciation expense—Computer equipment | 0 | |||||
| 623 | Wages expense | 0 | |||||
| 637 | Insurance expense | 0 | |||||
| 640 | Rent expense | 0 | |||||
| 652 | Computer supplies expense | 0 | |||||
| 655 | Advertising expense | 0 | |||||
| 676 | Mileage expense | 0 | |||||
| 677 | Miscellaneous expenses | 0 | |||||
| 684 | Repairs expense—Computer | 0 | |||||
In response to requests from customers, S. Rey will begin selling
computer software. The company will extend credit terms of 1/10,
n/30, FOB shipping point, to all customers who purchase this
merchandise. However, no cash discount is available on consulting
fees. Additional accounts (Nos. 119, 413, 414, 415, and 502) are
added to its general ledger to accommodate the company’s new
merchandising activities. Its transactions for January through
March follow.
| Jan. | 4 | The company paid cash to Lyn Addie for five days’ work at the rate of $155 per day. Four of the five days relate to wages payable that were accrued in the prior year. | ||
| 5 | Santana Rey invested an additional $24,900 cash in the company in exchange for more common stock. | |||
| 7 | The company purchased $6,700 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB shipping point, invoice dated January 7. | |||
| 9 | The company received $2,808 cash from Gomez Co. as full payment on its account. | |||
| 11 | The company completed a five-day project for Alex’s Engineering Co. and billed it $5,410, which is the total price of $6,750 less the advance payment of $1,340. The company debited Unearned Computer Services Revenue for $1,340. | |||
| 13 | The company sold merchandise with a retail value of $4,400 and a cost of $3,550 to Liu Corp., invoice dated January 13. | |||
| 15 | The company paid $770 cash for freight charges on the merchandise purchased on January 7. | |||
| 16 | The company received $4,050 cash from Delta Co. for computer services provided. | |||
| 17 | The company paid Kansas Corp. for the invoice dated January 7, net of the discount. | |||
| 20 | The company gave a price reduction (allowance) of $700 to Liu Corp. and credited Liu's accounts receivable for that amount. | |||
| 22 | The company received the balance due from Liu Corp., net of the discount and the allowance. | |||
| 24 | The company returned defective merchandise to Kansas Corp. and accepted a credit against future purchases (debited accounts payable). The defective merchandise invoice cost, net of the discount, was $486. | |||
| 26 | The company purchased $9,200 of merchandise from Kansas Corp. with terms of 1/10, n/30, FOB destination, invoice dated January 26. | |||
| 26 | The company sold merchandise with a $4,510 cost for $5,890 on credit to KC, Inc., invoice dated January 26. | |||
| 31 | The company paid cash to Lyn Addie for 10 days’ work at $155 per day. | |||
| Feb. | 1 | The company paid $2,655 cash to Hillside Mall for another three months’ rent in advance. | ||
| 3 | The company paid Kansas Corp. for the balance due, net of the cash discount, less the $486 credit from merchandise returned on January 24. | |||
| 5 | The company paid $600 cash to Facebook for an advertisement to appear on February 5 only. | |||
| 11 | The company received the balance due from Alex’s Engineering Co. for fees billed on January 11. | |||
| 15 | The company paid a $4,690 cash dividend. | |||
| 23 | The company sold merchandise with a $2,540 cost for $3,370 on credit to Delta Co., invoice dated February 23. | |||
| 26 | The company paid cash to Lyn Addie for eight days’ work at $155 per day. | |||
| 27 | The company reimbursed Santana Rey $288 cash for business automobile mileage. The company recorded the reimbursement as "Mileage Expense." | |||
| Mar. | 8 | The company purchased $2,820 of computer supplies from Harris Office Products on credit with terms of n/30, FOB destination, invoice dated March 8. | ||
| 9 | The company received the balance due from Delta Co. for merchandise sold on February 23. | |||
| 11 | The company paid $800 cash for minor repairs to the company’s computer. | |||
| 16 | The company received $5,290 cash from Dream, Inc., for computing services provided. | |||
| 19 | The company paid the full amount due of $4,080 to Harris Office Products, consisting of amounts created on December 15 (of $1,260) and March 8. | |||
| 24 | The company billed Easy Leasing for $9,227 of computing services provided. | |||
| 25 | The company sold merchandise with a $2,092 cost for $2,860 on credit to Wildcat Services, invoice dated March 25. | |||
| 30 | The company sold merchandise with a $1,118 cost for $2,310 on credit to IFM Company, invoice dated March 30. | |||
| 31 | The company reimbursed Santana Rey $128 cash for business automobile mileage. The company recorded the reimbursement as "Mileage Expense." |
The following additional facts are available for preparing
adjustments on March 31 prior to financial statement
preparation.
2. Post the journal entries in part 1 to the accounts in the company’s general ledger. Note: Begin with the ledger’s post-closing adjusted balances as of December 31, 2020.
In: Accounting