Franklin Furniture

Franklin Furniture produces tables and chairs at its East-side plant for use in university classrooms. The unit profit for tables is $70, while that for chairs is $30.

Tables and chairs are manufactured using finished pressed wood and polished aluminum fittings. Including scrap, each table uses 20 square feet of pressed wood, whereas each chair uses 12.5 square feet of the pressed wood. Franklin Furniture has 6000 square feet of the pressed weed available for the East-side plant weekly. The aluminum fittings that reinforce the legs of both the tables and chairs are purchased from an outside supplier. Franklin Furniture can purchase up to 400 boxes of fittings weekly; one box is required for each table or chair manufactured.

Production time is 72 minutes (1.2 hours) per table and 18 minutes (0.3 hours) per chair. Franklin Furniture has eight employees, each of whom works an average of 7.5 hours per day. Thus, in an average five-day work week, the company has available 8(7.5)(5) = 300 production hours.

Franklin Furniture also produces desks and computer workstations at its West-side plant. Each desk nets the company a profit of $100, while each computer workstation nets $125. These products are also produced from finished pressed wood and aluminum. The amount of each, as well as the labor time needed to produce a desk or computer workstation, is given in the following table.

Franklin Furniture is considering combining operations of both plants into a single plant. This consolidation will combine the weekly available resources so that 12,000 square feet of pressed wood, 800 boxes of aluminum fittings, and 600 production hours will available weekly. However, the accounting department estimates the cost of renovating the plant will be $5000 per week, on an amortized basis.

In your role of a Business Consultant to Franklin Furniture, prepare a business report for Franklin Furniture giving optimal weekly production schedules for each of its plants operating separately. Then include an analysis and recommendation to Franklin Furniture for combining operations at both plants into a single plant.

(Hint: This case can be solved by splitting it into three small cases, two of which can be analyzed using only two decision variables.)

Exercise 13-10 (LO13-2)

A study of 8 worldwide financial institutions showed the correlation between their assets and pretax profit to be 0.75.

1. State the decision rule for 0.010 significance level: H₀: ρ ≤ 0; H₁: ρ > 0. (Round your answer to 3 decimal places.)

Exercise 13-20 (LO13-3)

The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year.

2. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.)

Exercise 13-60 (LO13-2, LO13-3, LO13-5)

Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (y). The MegaStat output is reported below.

How much damage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.) [THE ANSWER IS NOT 35]

State the decision rule for 0.01 significance level: H₀ : ρ = 0; H₁ : ρ ≠ 0. (Negative value should be indicated by a minus sign. Round your answers to 3 decimal places.)

A 10-year study conducted by the American Heart Association provided data on how age, blood pressure, and smoking relate to the risk of strokes. Data from a portion of this study follow. Risk is interpreted as the probability (times 100) that a person will have a stroke over the next 10-year period. For the smoker variable, 1 indicates a smoker and 0 indicates a nonsmoker.

Using age, blood pressure, and whether a person is a smoker, develop an estimated regression equation that can be used to predict risk. Use x₁ for age, x₂ for blood pressure, and x₃ for whether a person is a smoker. (Round your constant term to one decimal place and coefficients to three decimal places.)

ŷ =______________.

The Department of Energy and the U.S. Environmental Protection Agency's 2012 Fuel Economy Guide provides fuel efficiency data for 2012 model year cars and trucks.† The file named CarMileage provides a portion of the data for 309 cars. The column labeled Size identifies the size of the car (Compact, Midsize, and Large) and the column labeled Hwy MPG shows the fuel efficiency rating for highway driving in terms of miles per gallon. Use α = 0.05 and test for any significant difference in the mean fuel efficiency rating for highway driving among the three sizes of cars. (Hint: you will need to re-organize the data to create indicator variables for the qualitative data).

Find the value of the test statistic for the overall model. (Round your answer to two decimal places.)

__________________.

Find the p-value for the overall model. (Round your answer to three decimal places.)

p-value = ________________.

You have entered a model rocket contest with your friend, Tiffany. You have been working on a pressurized rocket filled with nitrous oxide. Tiffany has determined the minimum atmospheric pressure at which the rocket fuel is stable. Based not hat value, and the equations given below, your task is to determine the optimum launch angle and initial velocity to maximize flight time. The goal is to re-use your rocket capsule, so you really want to avoid a fuel explosion.

The atmospheric pressure varies with elevation according to the equation: P(h)= 14.7e−h/10. where p is the pressure in psi and h, is an elevation in miles above sea levels. The height (in feet) of a rocket launched at an angle α degrees with the horizontal and an initial velocity, vo in feet/second, t seconds after launch is given by the equation h(t)=-16t^2+vo*t*sin(α).

1) If Tiffany has determined that the minimum safe pressure is 11 pounds per square inch, at what altitude will the rocket explode? Report your result in feet. Round to the nearest foot.

2) If the angle of launch is33o, with an initial velocity of 1,648 what is the minimum atmospheric pressure exerted on the rocket during its flight? Report your answer to one decimal place. Under these conditions, will the rocket explode during its flight?

3) If the angle of launch is32o, with an initial velocity of 1,908 what is the minimum atmospheric pressure exerted on the rocket during its flight? Report your answer to one decimal place. Under these conditions, will the rocket explode during its flight?

4) Tiffany has revisited her calculation and has now concluded that the minimum safe pressure for the fuel is 9 psi. What is the maximum height your rocket can achieve without exploding in flight? Report your answer in feet to the nearest foot.

5) Tiffany has (once again) checked her calculations, and you have verified with her that the safe pressure for your fuel is 9 and the fuel capsule holds enough fuel to produce an initial velocity of 2,169 feet per second. What launch angle will you use so that your rocket achieves the maximum safe altitude? Round your answer to the nearest tenth of a degree.

There has been a car accident and the driver if the car was brought to PRU. She has been stabilized in the emergency department; however, transferring her to another facility 40 miles to ICU away would not be appropriate in her health status for her injuries would not sustain life.

The patient has to be placed in ICU in the next 1-2 hours. The night supervisory gains composure and describes the status of patients occupying the 4 ICU beds.

Patient A- A 59 year old female, comatose, stroke victim who had been in ICU for 33 days; uncertain prognosis; retired, with no family

Patient B- 2- week old premature male, has Down's syndrome and has been in ICU since birth; hospital has brought a legal action to permit surgery to repair a duodenal atresia, a procedure the parents had not permitted; family in adjacent city.

Patient C- 35 year old male who underwent emergency appendectomy, developed severe wound infection and septicemia, source of infection is unknown; because of previous anaphylactic shock in reaction to antibiotics; requires ICU care; bachelor; aged mother in city.

Patient D- 13 year old female undergoing chemotherapy for leukemia with an experimental drug; has been in remission three times in the past; close monitoring of the experimental protocol and potential reaction to drug requires ICU care; family in city.

New Patient- 24 year old patient; college honor student in physics. scholarship winner; pregnant; engaged; no family known.

The supervisor ended the brief description by asking, "What should I do?"

Randall has to make a decision.

1. What should Randall do? Why is your choice the best answer? Support your thoughts.

2. What steps should be taken in reaching a decision?

3. Describe a means to avoid a similar problem in the future and how to deal with issues as they arise. (Adding additional ICU beds is not a budgetary or space option)

Describe your facility

Describe your staff

Explain any legal or ethical issues of the situation

Explain your management style/theory

Discuss cultural issues that the situation presents

Explain budgetary plans or concerns

Explain credentialing or accreditation issues the situation present

Describe your response to the situation

James, a buyer at EZ Tech, a Alaska-based purveyor of generators for people in remote areas, was doing some number crunching. EZ Tech was reevaluating its suppliers for a key component of the generator, the generator frame. After some extensive evaluation, James had narrowed it down to two suppliers and he would source from the one with the lowest total cost, everything else held equal. Given the following information, use total cost analysis to determine which supplier, is more cost-effective for EZ Tech. Late delivery of the generator frame results in either a lost sale (thus lost profit) or a customer backorder (each time there is a backorder, it costs $195). Assume for the cost comparison that order quantity is 2,800 units and that the annual requirement (forecast) is 74,000 units. For purposes of calculating quality problems, James uses the expected invoice amount as a base. What should James do? Enter as ###,###. Enter negative numbers as -###,###.

You have entered a model rocket contest with your friend, Tiffany. You have been working on a pressurized rocket filled with nitrous oxide. Tiffany has determined the minimum atmospheric pressure at which the rocket fuel is stable. Based not hat value, and the equations given below, your task is to determine the optimum launch angle and initial velocity to maximize flight time. The goal is to re-use your rocket capsule, so you really want to avoid a fuel explosion.

The atmospheric pressure varies with elevation according to the equation: P(h)= 14.7e−h/10. where p is the pressure in psi and h, is an elevation in miles above sea levels. The height (in feet) of a rocket launched at an angle α degrees with the horizontal and an initial velocity, vo in feet/second, t seconds after launch is given by the equation h(t)=-16t^2+vo*t*sin(α).

1) If Tiffany has determined that the minimum safe pressure is 11 pounds per square inch, at what altitude will the rocket explode? Report your result in feet. Round to the nearest foot.

2) If the angle of launch is33o, with an initial velocity of 1,648 what is the minimum atmospheric pressure exerted on the rocket during its flight? Report your answer to one decimal place. Under these conditions, will the rocket explode during its flight?

3) If the angle of launch is32o, with an initial velocity of 1,908 what is the minimum atmospheric pressure exerted on the rocket during its flight? Report your answer to one decimal place. Under these conditions, will the rocket explode during its flight?

4) Tiffany has revisited her calculation and has now concluded that the minimum safe pressure for the fuel is 9 psi. What is the maximum height your rocket can achieve without exploding in flight? Report your answer in feet to the nearest foot.

5) Tiffany has (once again) checked her calculations, and you have verified with her that the safe pressure for your fuel is 9 and the fuel capsule holds enough fuel to produce an initial velocity of 2,169 feet per second. What launch angle will you use so that your rocket achieves the maximum safe altitude? Round your answer to the nearest tenth of a degree.

41.

Which of the following statements holds true for the term, unintentional discrimination?

Select one:

a. It refers to discrimination expressed by an individual within an organization that may or may not share the outlook.

b. It refers to discrimination embedded in an organization’s culture.

c. It refers to an episode of discrimination not indicative of an individual’s or an organization’s standard practice.

d. It refers to discriminatory acts stemming from unrealized prejudice.

e. It refers to recurrent episodes of discrimination indicative of an individual’s or an organization’s standard practice.

42.A rail road is being proposed by the government to join two neighboring cities. The rail road will significantly reduce the travel time between the two cities. The only concern is that to set up the infrastructure for the rail road, approximately ten square miles of forests will need to be cleared. The forest is known for its flora and fauna and regularly attracts people from all over the country. Any construction activity in the forest would deprive future generations of this rich heritage. Thus the plan for the proposed rail road has been shelved because of the idea that the environment should be protected so that future generations may live in it, and have the choices as individuals have today. The above is an example of:

Select one:

a. social fairness.

b. an aesthetic argument.

c. an environmental impact statement.

d. incentives.

e. externalities.

43.Which of the following statements holds true for the concept of “fairness”?

Select one:

a. It refers to the duty to treat equals equally and unequals unequally.

b. It refers to the duty to compensate others when we harm them.

c. It refers to the duty to keep our promises and hold up our end of bargains.

d. It refers to the duty to thank and remember those who help us.

e. It refers to the idea that when you set up rules for resolving dilemmas, you don’t get to know beforehand which side of the rules you will fall on.

44.Susan and Michelle plan to steal office stationery, sell it, and keep the profits. John overhears their plans and immediately reports what he heard to an authoritative figure in the organization. This is an example of:

Select one:

a. conflict of interest.

b. a kickback.

c. reporting.

d. a bribe.

e. whistleblowing.

45._____ refers to the argument that discrimination is wrong because it treats people unequally for reasons not involving merit.

Select one:

a. The fairness argument

b. The rights argument

c. The temperance argument

d. The courage argument

e. The utilitarian argument