Questions
QUESTION 1 Use the following scenario and data for all questions An auto service center provides...

QUESTION 1

  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

  1. 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

  1. For the Customer Service Type, the random number interval assigned to Tire Replacement is

    0.0000-0.6999

    0.0000-0.2999

    0.2999-0.9999

    0.3000-0.9999

    None of the above

1 points   

QUESTION 4

  1. 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

  1. 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

  1. 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

  1. 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:

Once the independent and dependent variables are identified correctly, regression analysis is often thought of as a Three Step Process:

  1. What is the conclusion of the null hypothesis, Ho: B1=0;
  2. If there is an association between X and Y, how strong is this association?
  3. What are the values of the regression coefficients?

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 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...

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...

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?...

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...

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

Pickup (Q) Price/Pickup Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average...

Pickup (Q) Price/Pickup Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC)
0 $4.20 0 --- $3.20 --- ---
1 $3.80 $4.20
2 $3.40 $5.60
3 $3.00 $7.80
4 $2.60 $10.40
5 $2.20 $13.40
6 $1.90 $16.80

Complete the table above, then answer the following questions

What are the fixed costs per month of garbage collection per resident? Explain your answer

Considering that the current garbage collection firm the city has contracted with has a monopoly in garbage collection services, what is the current number of collections residents receive per month and the price charged residents for each collection?

What is the economic profit received from each resident by the monopoly firm? (Note: Profit received form individual resident must be calculated a per unit basis)

If competitive bidding were allowed and therefore a competitive market for garbage collection services developed, what would the number of collections per month and the price charged residents per collection? What is the economic profit received from each resident by the competitive firm? (Note that in a competitive market (chapter 13), P=MC=MR)
Based on the above analysis, should the city government allow competitive bidding? Why? Would you expect there to be any quality differences between the monopolistic and competitive trash collection firms?

In: Economics

The lifetime of a certain type of battery is normally distributed with a mean of 1000...

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...

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.

  1. The March 31 amount of computer supplies still available totals $2,095.
  2. Prepaid Insurance coverage of $699 expired during this three-month period.
  3. Lyn Addie has not been paid for seven days of work at the rate of $155 per day.
  4. Prepaid rent of $2,655 expired during this three-month period.
  5. Depreciation on the computer equipment for January 1 through March 31 is $1,090.
  6. Depreciation on the office equipment for January 1 through March 31 is $210.
  7. The March 31 amount of merchandise inventory still available totals $574.

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