Mr. Allan is recently transferred to claim settlement department of Karma Insurance, the South Bend Branch. He has worked in the head office for 5 years and was considered as a task manager. He decided to enforce a strict discipline at the branch level. According to him, there is no standard set for any working. Employees come late, they don't complete their work on time, customers have to wait for long and unnecessary delays which are made on account of paper formations at the time of claim settlement. Mr. Allan decided to discuss these matters with the regional HR manager and came up with the idea that a new performance appraisal method should be applied which will solve the problems at all branch levels.
Which methods from the chapter should Mr. Allan suggest to the HR manager for appraisal and why?
How can Mr. Allan evaluate the effectiveness of a new system selected?
In: Operations Management
Sub-Saharan region of Africa to encompass a total of forty-seven countries. Many of these countries south of the Sahara have been in state failure, either partial or complete collapse of state authority. This has led to an inability to provide for economic development and a source of security. These failed states have governments with little political authority or ability to impose the rule of law, and are usually associated with widespread crime, conflict, or devastating humanitarian crises. Africa's problems are myriad and intricate; the rulers in Sub-Saharan Africa have struggled to develop autonomous and cohesive states during the post colonial era giving rise to the fact that almost half of the world’s failing states are located here. Discuss the validity of these statements.
In: Economics
Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family | Food | Income | Size | |||||
1 | $ | 4.24 | $ | 73.98 | 2 | |||
2 | 4.08 | 54.90 | 2 | |||||
3 | 5.76 | 59.43 | 4 | |||||
4 | 3.48 | 52.02 | 1 | |||||
5 | 4.20 | 65.70 | 2 | |||||
6 | 4.80 | 53.64 | 4 | |||||
7 | 4.32 | 79.74 | 3 | |||||
8 | 5.04 | 68.58 | 4 | |||||
9 | 6.12 | 165.60 | 5 | |||||
10 | 3.24 | 64.80 | 1 | |||||
11 | 4.80 | 138.42 | 3 | |||||
12 | 3.24 | 125.82 | 1 | |||||
13 | 6.37 | 77.58 | 7 | |||||
14 | 5.51 | 170.74 | 7 | |||||
15 | 6.60 | 126.42 | 6 | |||||
16 | 5.40 | 141.30 | 3 | |||||
17 | 6.00 | 36.90 | 5 | |||||
18 | 5.40 | 56.88 | 4 | |||||
19 | 3.36 | 71.82 | 1 | |||||
20 | 4.68 | 69.48 | 3 | |||||
21 | 4.32 | 54.36 | 2 | |||||
22 | 5.52 | 87.66 | 5 | |||||
23 | 4.56 | 38.16 | 3 | |||||
24 | 5.40 | 43.74 | 7 | |||||
25 | 7.10 | 37.46 | 6 | |||||
Food and income are reported in thousands of dollars per year, and the variable size refers to the number of people in the household.
a-1. Develop a correlation matrix. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)
|
b-1. Determine the regression equation. (Round your answer to 3 decimal places.)
|
b-2. How much does an additional family member add to the amount spent on food? (Round your answer to the nearest dollar amount.)
|
c-1. What is the value of R2? (Round your answer to 3 decimal places.)
|
c-2. Complete the ANOVA (Leave no cells blank - be certain to enter "0" wherever required. Round SS, MSto 4 decimal places and F to 2 decimal places.)
|
c-3. State the decision rule for 0.05 significance level. H0: = ?1 = ?2 = 0; H1: Not all ?i's = 0. (Round your answer to 2 decimal places.)
|
d-1. Complete the table given below. (Leave no cells blank - be certain to enter "0" wherever required. Round Coefficient, SE Coefficient, P to 4 decimal places and T to 2 decimal places.)c-4. Can we reject H0: = ?1 = ?2 = 0?
|
d-2. Would you consider deleting either of the independent variables?
|
In: Statistics and Probability
West Hills Village (WHV) in Rapid City, South Dakota is evaluating a guideline lease agreement on laundry equipment that costs $250,000 and falls into the MACRS three-year class. The home can borrow at an 8 percent rate on a four-year loan if WHV decided to borrow and buy rather than lease. The laundry equipment has a four-year economic life, and its estimated residual value is $50,000 at the end of Year 4. If WHV buys the equipment, it would purchase a maintenance contract which costs $5,000 per year, payable at the beginning of each year. The lease terms, which include maintenance, call for a $71,000 lease payment at the beginning of each year. WNV's tax rate is 40 percent. Should the home lease or buy?
Please show how to do this in excel
In: Finance
Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family | Food | Income | Size | |||||
1 | $ | 4.14 | $ | 73.98 | 4 | |||
2 | 4.08 | 54.90 | 2 | |||||
3 | 5.76 | 138.86 | 4 | |||||
4 | 3.48 | 52.02 | 1 | |||||
5 | 4.20 | 65.70 | 2 | |||||
6 | 4.80 | 53.64 | 4 | |||||
7 | 4.32 | 79.74 | 3 | |||||
8 | 5.04 | 68.58 | 4 | |||||
9 | 6.12 | 165.60 | 5 | |||||
10 | 3.24 | 64.80 | 1 | |||||
11 | 4.80 | 138.42 | 3 | |||||
12 | 3.24 | 125.82 | 1 | |||||
13 | 7.17 | 77.58 | 7 | |||||
14 | 5.94 | 146.51 | 6 | |||||
15 | 6.60 | 162.69 | 8 | |||||
16 | 5.40 | 141.30 | 3 | |||||
17 | 6.00 | 36.90 | 5 | |||||
18 | 5.40 | 56.88 | 4 | |||||
19 | 3.36 | 71.82 | 1 | |||||
20 | 4.68 | 69.48 | 3 | |||||
21 | 4.32 | 54.36 | 2 | |||||
22 | 5.52 | 87.66 | 5 | |||||
23 | 4.56 | 38.16 | 3 | |||||
24 | 5.40 | 43.74 | 7 | |||||
25 | 6.71 | 59.83 | 5 | |||||
Complete the ANOVA (Leave no cells blank - be certain to enter "0" wherever required. Round SS, MSto 4 decimal places and F to 2 decimal places.)
|
State the decision rule for 0.05 significance level. H0: = β1 = β2 = 0; H1: Not all βi's = 0
Complete the table given below. (Leave no cells blank - be certain to enter "0" wherever required. Round Coefficient, SE Coefficient, P to 4 decimal places and T to 2 decimal places.)
|
In: Statistics and Probability
Go Party Ltd (GPL) is a successful New Zealand catering company, operating in South Island. It has a balance date of 30 June. During the preparation of the 30 June 2020 financial statements, the following two issues have come into the light. The details of these issues are as follows:
(a) After a wedding party held by a customer in January 2020, 60 people became seriously ill, possibly as a result of food poisoning from food served by GPL. Legal proceedings were commenced seeking damages from GPL. The company lawyers advised that owing to developments in the case, and it was probable that the company would be found liable and the estimated damages were $85,000 that would be material to the company’s reported profits.
(b) On 15 February 2020, the Department of Occupational Health and Safety undertook an audit against the complaints regards to the company’s unsafe storage practices. If found to be negligent by the court, the company will have to pay a fine and incur cleaning costs. At the end of the financial year, the outcome of the audit is unknown. The company directors are of the opinion that there is a 50% chance that Go Party Ltd will be found negligent.
Required: Determine how GPL should treat the above two issues in its financial statements for the year ended 30 June 2020. Include in your answer the criteria as per NZ IAS 37, necessary journal entries (if required) or any disclosure note/s required.
In: Accounting
2. In calm water, an oil spill spreads out in a circular fashion. Suppose the radius, r, of the spill is increasing by 3 feet per minute. How fast is the area, A, of the spill growing when the radius is 10 feet? Be sure to answer in a complete sentence.
3. We want to construct a box whose base is length is 5 times the width. The material used to build the top and bottom cost $9 per sq. ft. and the material used to build the sides cost $7 per sq. ft. If the box must have a volume of 75 cu. ft., determine the dimensions that will minimize the cost to build the box.
In: Advanced Math
In: Physics
Durban Metal Products, Ltd., of the Republic of South Africa makes specialty metal parts used in applications ranging from the cutting edges of bulldozer blades to replacement parts for Land Rovers. The company uses an activity-based costing system for internal decision-making purposes. The company has four activity cost pools as listed below: |
Activity Cost pool | Activity Measure | Activity Rate | ||
Order size | Number of direct labor-hours | $ | 16.50 | per direct labor-hour* |
Customer orders | Number of customer orders | $ | 359.00 | per customer order |
Product testing | Number of testing hours | $ | 81.00 | per testing hour |
Selling | Number of sales calls | $ | 1,491.00 | per sales call |
The managing director of the company would like information concerning the cost of a recently completed order for heavy-duty trailer axles. The order required 170 direct labor-hours, 18 hours of product testing, and 5 sales calls. |
The results of the first-stage allocation of the activity-based costing system at Durban Metal Products, Ltd., in which the activity rates were computed, appear below: |
Order Size |
Customer Orders |
Product Testing |
Selling | |||||
Manufacturing overhead: | ||||||||
Indirect labor | $ | 7.90 | $ | 234.00 | $ | 32.00 | $ | 0.00 |
Factory depreciation | 7.20 | 0.00 | 19.00 | 0.00 | ||||
Factory utilities | .70 | 0.00 | 3.00 | 0.00 | ||||
Factory administration | 0.00 | 43.00 | 27.00 | 7.00 | ||||
Selling and administrative: | ||||||||
Wages and salaries | .70 | 74.00 | 0.00 | 966.00 | ||||
Depreciation | 0.00 | 8.00 | 0.00 | 41.00 | ||||
Taxes and insurance | 0.00 | 0.00 | 0.00 | 50.00 | ||||
Selling expenses | 0.00 | 0.00 | 0.00 | 427.00 | ||||
Total overhead cost | $ | 16.50 | $ | 359.00 | $ | 81.00 | $ | 1,491.00 |
Required: | |
1. |
Prepare a report showing the overhead cost of the order for heavy-duty trailer axles. What is the total overhead cost of the order? |
In: Accounting
Go Party Ltd (GPL) is a successful New Zealand catering company, operating in South Island. It has a balance date of 30 June. During the preparation of the 30 June 2020 financial statements, the following two issues have come into the light. The details of these issues are as follows:
(a) After a wedding party held by a customer in January 2020, 60 people became seriously ill, possibly as a result of food poisoning from food served by GPL. Legal proceedings were commenced seeking damages from GPL. The company lawyers advised that owing to developments in the case, and it was probable that the company would be found liable and the estimated damages were $85,000 that would be material to the company’s reported profits.
(b) On 15 February 2020, the Department of Occupational Health and Safety undertook an audit against the complaints regards to the company’s unsafe storage practices. If found to be negligent by the court, the company will have to pay a fine and incur cleaning costs. At the end of the financial year, the outcome of the audit is unknown. The company directors are of the opinion that there is a 50% chance that Go Party Ltd will be found negligent.
Required:
Determine how GPL should treat the above two issues in its financial statements for the year ended 30 June 2020. Include in your answer the criteria as per NZ IAS 37, necessary journal entries (if required) or any disclosure note/s required.
In: Accounting