Professor Smith teaches two sections of business statistics, which combined will result in 120 final exams to be graded. Professor Smith has two graduate assistants, Brad and Sarah, who will grade the final exams. There is a 3-day period between the time the exam is administered and when final grades must be posted. During this period, Brad has 12 hours available and Sarah has 10 hours available to grade the exams. It takes Brad an average of 7.2 minutes to grade an exam, and it takes Sarah 12 minutes to grade an exam; however, Brad’s exams will have errors that will require Professor Smith to ultimately regrade 10% of the exams, while only 6% of Sarah’s exams will require regrading. Professor Smith wants to know how many exams to assign to each graduate assistant to grade to minimize the number of exams to regrade. a. Formulate a linear programming model for this problem. b. Solve this model by using graphical analysis.
> As a team, select an industry to analyze. Using your web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a descr
> Refer to the financial statements of The Home Depot in Appendix A and Lowe’s in Appendix B at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. Fiscal 2016 for Lowe’s runs from January 30, 2016,
> Refer to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. See S1-1 for further explanation.) Required: 1. As of January 29, 2017, h
> Refer to the information in S10-7 and prepare a worksheet that uses formulas to reproduce the bond discount amortization schedule shown for simplified effective-interest amortization in Chapter Supplement 10C. Display both the completed spreadsheet and a
> Refer to the information in S10-7 and prepare a worksheet that uses formulas to reproduce the effective-interest bond discount amortization schedule shown in Chapter Supplement 10B. Display both the completed spreadsheet and a “formulas revealed” (Ctrl ~
> Assume the authors of a popular introductory accounting text have hired you to create spreadsheets that will calculate bond discount amortization schedules like those shown in this chapter. As usual, you e-mail your friend Owen for some guidance. Much to
> Assume you work as an assistant to the chief financial officer (CFO) of Fashions First, Inc. The CFO reminds you that the fiscal year-end is only two weeks away and that he is looking to you to ensure the company stays in compliance with its loan covenan
> Assume you are a portfolio manager for a large insurance company. The majority of the money you manage is from retired school teachers who depend on the income you earn on their investments. You have invested a significant amount of money in the bonds of
> What is a sales discount? Use 2/30, n/45 in your explanation.
> Many retired people invest a significant portion of their money in bonds of corporations because of their relatively low level of risk. During the 1980s, significant inflation caused some interest rates to rise to as high as 15 percent. Retired people wh
> As a team, select an industry to analyze. Using your web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a descr
> Refer to the financial statements of The Home Depot in Appendix A and Lowe’s in Appendix B at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. Fiscal 2016 for Lowe’s runs from January 30, 2016,
> Refer to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. See S1-1 for further explanation.) Required: 1. Calculate and express as
> To make some extra money, you’ve started preparing templates of business forms and schedules for others to download from the Internet (for a small fee). After relevant information is entered into each template, it automatically performs
> As an aspiring financial analyst, you have applied to a major Wall Street firm for a summer job. To screen potential applicants, the firm provides you a short case study and asks you to evaluate the financial success of two hypothetical companies that st
> Assume you are one of three members of the accounting staff working for a small, private company. At the beginning of this year, the company expanded into a new industry by acquiring equipment that will be used to make several new lines of products. The
> This case is based on a cost capitalization fraud at WorldCom. The case is available online in the Connect eBook. To complete this case, you will identify information that suggests certain costs are not appropriately capitalized and you will calculate th
> As a team, select an industry to analyze. Using your web browser, each team member should access the annual report or 10-K for one publicly traded company in the industry, with each member selecting a different company. (See S1-3 in Chapter 1 for a descr
> Refer to the financial statements of The Home Depot in Appendix A and Lowe’s in Appendix B at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. Fiscal 2016 for Lowe’s runs from January 30, 2016,
> What is the distinction between Sales Returns and Sales Allowances?
> What are the purposes of (a) the balance sheet, (b) the income statement, (c) the statement of retained earnings, and (d) the statement of cash flows?
> Explain the concept of the time value of money.
> Solve the following linear programming model graphically: minimize Z = 8x1 + 6x2 subject to 4x1 + 2x2 Ú 20 - 6x1 + 4x2 … 12 x1 + x2 Ú 6 x1, x2 Ú 0
> For Problem 22, a. Explain the effect on the optimal solution of changing the daily pay for a permanent claims processor from $64 to $54. b. Explain the effect of changing the daily pay for a temporary claims processor from $42 to $36. c. What would be t
> Universal Claims Processors processes insurance claims for large national insurance companies. Most claim processing is done by a large pool of computer operators, some of whom are permanent and some of whom are temporary. A permanent operator can proces
> InProblem20, if the constraint x1≥8 is changed to x1≤8, what effect does this have on the feasible solution space and the optimal solution?
> Solve the following linear programming model graphically: maximize Z = 6.5x1 + 10x2 subject to 2x1 + 4x2 … 40 x1 + x2 … 15 x1 Ú 8 x1, x2 Ú 0
> The Munchies Cereal Company makes a cereal from several ingredients. Two of the ingredients, oats and rice, provide vitamins A and B. The company wants to know how many ounces of oats and rice it should include in each box of cereal to meet the minimum r
> Transform the model in Problem 18 into standard form, and indicate the value of the slack variables at each corner point solution.
> Solve the following linear programming model graphically:
> In Problem 16: a. If Amelia works 35 hours weekly, will she make more money? b. If the admissions office reduces Amelia’s wage to £8 per hour, and restaurant raises the wage to £9 per hour, and Amelia works up to 25 hours at the restaurant, will these ch
> Amelia wants to do a part time job during her spring break. She has two jobs now—one in an admissions office and the other in a nearby restaurant. She does not want to work for more than 40 hours per week. She believes that working in the restaurant is e
> Hannah Byers and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its pool at noon each day, so it is available to rent during the morning. The cost of renting the pool during the 10-
> In Problem 14, what would be the effect on the optimal solution if the available labor were increased from 200 to 240 hours?
> A clothier makes coats and slacks. The two resources required are wool cloth and labor. The clothier has 150 square yards of wool and 200 hours of labor available. Each coat requires 3 square yards of wool and 10 hours of labor, whereas each pair of slac
> In Problem 11: a. The maximum demand for bracelets is 4. If the store produces the optimal number of bracelets and necklaces, will the maximum demand for bracelets be met? If not, by how much will it be missed? b. What profit for a necklace would result
> In Problem 11, explain the effect on the optimal solution of increasing the profit on a bracelet from $400 to $600. What will be the effect of changing the platinum requirement for a necklace from 2 ounces to 3 ounces?
> A jewelry store makes necklaces and bracelets from gold and platinum. The store has 18 ounces of gold and 20 ounces of platinum. Each necklace requires 3 ounces of gold and 2 ounces of platinum, whereas each bracelet requires 2 ounces of gold and 4 ounce
> The Elixer Drug Company produces a drug from two ingredients. Each ingredient contains the same three antibiotics, in different proportions. One gram of ingredient 1 contributes 3 units, and 1 gram of ingredient 2 contributes 1 unit of antibiotic 1; the
> In Problem 40 in Chapter 1, when Tracy McCoy wakes up Saturday morning, she remembers that she promised the PTA she would make some cakes and/or homemade bread for its bake sale that afternoon. However, she does not have time to go to the store to get in
> Solve the following linear programming model graphically and explain the solution result:
> Solve the following linear programming model graphically and explain the solution result: maximize Z = 60x1 + 90x2 subject to 60x1 + 30x2 … 1,500 100x1 + 100x2 Ú 6,000 x2 Ú 30 x1, x2 Ú 0
> Solve the following linear programming model graphically and explain the solution result: minimize Z = +3,000x1 + 1,000x2 subject to 60x1 + 20x2 Ú 1,200 10x1 + 10x2 Ú 400 40x1 + 160x2 Ú 2,400 x1, x2 Ú 0
> Annie Russell, a student at Tech, plans to open a hot dog stand inside Tech’s football stadium during home games. There are seven home games scheduled for the upcoming season. She must pay the Tech athletic department a vendor’s fee of $3,000 for the sea
> In Problem 56: a. If the fraternity buys a larger warming oven that has 25 shelves with the same shelf dimensions, for an additional $2,000, how much would they increase profit? b. If they could increase their budget to $1,500 per game, how much would th
> The Beta Upsilon Sigma honorary business fraternity at Tech wants to open a food booth at the football stadium for the upcoming season as a project to raise money to tutor students in management science courses. There will be six home games in the season
> In Problem 54: a. If Starbright Coffee Shop could get 1 more pound of coffee, which one should it be? What would be the effect on sales of getting 1 more pound of this coffee? Would it benefit the shop to increase its brewing capacity from 30 gallons to
> Starbright Coffee Shop at the Galleria Mall serves two coffee blends it brews on a daily basis, Pomona and Coastal. Each is a blend of three high-quality coffees from Colombia, Kenya, and Indonesia. The coffee shop has 6 pounds of each of these coffees a
> In Problem 52, if Professor Smith could hire Brad or Sarah to work 1 additional hour, which should she choose? What would be the effect of hiring the selected graduate assistant for 1 additional hour?
> Janet Lopez is establishing an investment portfolio that will include stock and bond funds. She has $720,000 to invest, and she does not want the portfolio to include more than 65% stocks. The average annual return for the stock fund she plans to invest
> In Problem 49, the Chinese shipper would like to gain more shipping orders from Xara because it’s a prestigious company and would enhance the shipper’s reputation. It has therefore made the following proposals to Xara: a. Would Xara give the Chinese ship
> Xara Stores in the United States imports the designer-inspired clothes it sells from suppliers in China and Brazil. Xara estimates that it will have 45 orders in a year, and it must arrange to transport orders (in less-than-full containers) by container
> Suppose that in Problem 47, it turns out that twice as many guests prefer wine as beer. Will the Robinsons have enough wine with the amount they ordered in the Problem 47 solution? How much waste will there be with the solution in Problem 47?
> In problem 20, the production process for making pizzas that Benny’s Big Slice Pizza uses is very labor intensive. Benny is considering a more automated process design that requires the purchase of additional equipment that will increase annual fixed cos
> The Robinsons are planning a wedding and reception for their daughter, Rachel. Some of the most expensive items served at the reception and dinner are wine and beer. The Robinsons are planning on 200 guests at the reception, and they estimate that they n
> The admissions office at Tech wants to determine how many in-state and how many out-of-state students to accept for next fall’s entering freshman class. Tuition for an in-state student is $7,600 per year, whereas out-of-state tuition is $22,500 per year.
> In Problem 44, if the labor hours required for each chair were determined to be 2 hours instead of 1 hour, what would be the effect on the optimal solution?
> IREA multinational group designs and sells ready-to-assemble furniture, kitchen appliances, and home accessories. It has multiple sections, each section focusing on different home areas such as bedroom, bathroom, living room, etc. One of its sections dea
> In Problem 42, the Rays have checked their sales records for the past 5 years and have found that they sell at least 50% more chow-chow than tomato relish. How will this additional information affect their model and solution?
> A furniture manufacturer in Roanoke, Virginia, must deliver a tractor trailer load of furniture to a retail store in Washington, DC. There are a number of different routes the truck can take from Roanoke to DC, as shown in the following road network, wit
> The local Food King grocery store has eight possible checkout stations with registers. On Saturday mornings customer traffic is relatively steady from 8 A.M. to noon. The store man- ager would like to determine how many checkout stations to staff during
> When Tracy McCoy wakes up on Saturday morning, she remembers that she promised the PTA she would make some cakes and/or homemade bread for its bake sale that afternoon. However, she does not have time to go to the store and get ingredients, and she has o
> Ed Norris has developed a Web site for his used textbook business at State University. To sell advertising, he needs to forecast the number of site visits he expects in the future. For the past 6 months he has had the following number of site visits: D
> A car manufacturing company has its manufacturing plants in Chennai and Mumbai in India. The company transports its cars from these manufacturing plants to its distribution centers located in Bangalore and Hyderabad to meet the demands. Currently, the Mu
> A university student, Benny Orsini, is planning to open a walk-in pizza restaurant near campus that he will call Benny’s Big Slice Pizza. He will have limited seating and will sell two kinds of oversized slices of pizza to go, plain cheese and pepperoni.
> Maria Eagle is a Native American artisan. She works part-time making bowls and mugs by hand from special pottery clay and then sells her items to the Beaver Creek Pottery Company, a Native American crafts guild. She has 60 hours available each month to m
> Consider a model in which two products, x and y, are produced. There are 100 pounds of material and 80 hours of labor available. It requires 2 pounds of material and 1 hour of labor to produce a unit of x, and 4 pounds of material and 5 hours of labor to
> In the example used to demonstrate model construction in this chapter, a firm sells a product, x, for $20 that costs $5 to make, it has 100 pounds of steel to make the product, and it takes 4 pounds of steel to make each unit. The model that was construc
> In Problem 33, Annie has used historical weather data to determine that next season there is a 60% chance that the weather will be good and a 40% chance the weather will be bad. Given this additional information, what do you think Annie’s decision should
> Although Annie Russell (in problem 22) has been told by the athletic department at Tech that all the games will likely be sellouts, she is aware that the weather will affect how many fans will actually attend the games and buy hot dogs. Fans are less lik
> WeeMow Lawn Service provides lawn service, including mowing lawns and lawn care, landscaping, and lawn maintenance, to residential and commercial customers in the Draper town community. In the summer WeeMow has three teams that it schedules daily for job
> Erken Apparel International manufactures clothing items around the world. It has currently contracted with a U.S. retail clothing wholesale distributor for men’s goatskin and lambskin leather jackets for the next Christmas season. The d
> Each spring the Tech Student Government Association (SGA) organizes an event called “Give-Back Weekends.” The SGA solicits student teams to work on projects for residents in the university community on four consecutive
> Jim Huang and Roderick Wheeler were sales representatives in a computer store at a shopping mall in Arlington, Virginia, when they got the idea of going into business in the burgeoning and highly competitive microcomputer market. Jim went to Taiwan over
> The Graphic Palette is a firm in Charleston, South Carolina, that does graphic artwork and produces color and black-and- white posters, lithographs, and banners. The firm’s owners, Kathleen and Lindsey Taylor, have been approached by a
> Kim Davis has decided to purchase a cellular phone, but she is unsure about which rate plan to select. The “regular” plan charges a fixed fee of $55 per month for 1,000 minutes of airtime plus $0.33 per minute for any time over 1,000 minutes. The “execut
> Brenda Last is the personnel director at the Burlingham Textile Company. The company’s plant is expanding, and Brenda must fill five new supervisory positions in carding, spinning, weaving, inspection, and shipping. Applicants for the p
> Rachel Sundusky is the manager of the South-Atlantic office of the Stateline Shipping and Transport Company. She is in the process of negotiating a new shipping contract with Polychem, a company that manufactures chemicals for industrial use. Polychem wa
> The management science and information technology department at Tech offers between 36 and 40 three-hour course sections each semester. Some of the courses are taught by graduate student instructors, whereas 20 of the course sections are taught by the 10
> Chuck and his daughter Kathleen want to go on a trip in July to visit as many major league baseball parks for games as they can during Chuck’s week-long vacation from work. They would like to visit as many of the newer ball- parks as they can, but they a
> Kathleen Taylor has been working for a government contractor, Summit Solutions, in Washington, DC, for over a year. She is now eligible to participate in the company’s 401(k) retirement plan. The company has provided Kathleen with the i
> The Lead Balloon is a popular ’80s rock band that broke up in the 1990s but recently got back together to publish a new CD and go on tour. They want to schedule a summer tour that will encompass 16 possible cities in the eastern half of
> All students in the College of Business at State University are required to take a capstone course, Management 4394, the last semester of their senior year. This course consists primarily of a semester-long case project that pulls together all the busine
> Each fall the Draperton Parks and Recreation Department holds a series of tryouts for its boys’ and girls’ youth basketball leagues. All leagues are formed by age group, all girls who try out are placed on teams; some
> The United Broadcast Network (UBN) sells to advertisers commercial advertising slots on its television shows. The network announces its new fall television schedule during the previous spring and shortly thereafter begins selling its inventory of adverti
> Atlantic Management Systems is a consulting firm that specializes in developing computerized decision support systems for computer manufacturing companies. The fir currently has offices in Chicago, Charlotte, Pittsburgh, and Houston. It is considering op
> The General Store at State University is an auxiliary bookstore located near the dormitories that sells academic supplies, toiletries, sweatshirts and T-shirts, magazines, packaged food items, and canned soft drinks and fruit drinks. The manager of the s
> The Tennessee Pterodactyls is a new professional basket- ball franchise in Nashville. The team’s general manager, Jerry East, and coach, Phil Riley, are trying to develop a roster of players. They drafted seven players from a pool to wh
> Paulette Smith and Maureen Becker are seniors in engineering and business, respectively, at State University. They have set up a company, PM Computer Services, to assemble and sell their own brand of personal computers. They buy component parts on the op
> If Evergreen Fertilizer Company increases its advertising expenditures by $14,000 per year, what effect will the increase have on the break-even volume computed in Problem 13?
> If Evergreen Fertilizer Company changes its production process to add a weed killer to the fertilizer to increase sales, the variable cost per pound will increase from $0.15 to $0.22. What effect will this change have on the break-even volume computed in
> If Evergreen Fertilizer Company in Problem 4 changes the price of its fertilizer from $0.40 per pound to $0.60 per pound, what effect will the change have on the break-even volume?
> If the Gobblecakes bakery in Problem 2 changes the selling price for a cupcake from $3.20 to $2.75, what effect will the change have on the break-even volume?
> King’s Landing is a large amusement theme park located in Virginia. The park hires high school and college students to work during the summer months of May, June, July, August, and September. The student employees operate virtually all the highly mechani
> If the maximum operating capacity of Evergreen Fertilizer Company described in Problem 4 is 120,000 pounds of fertilizer per month, determine the break-even volume as a percentage of capacity.
> If the maximum operating capacity of the Rolling Creek Textile Mill described in Problem 3 is 25,000 yards of denim per month, determine the break-even volume as a percentage of capacity.
> If the maximum operating capacity of the Gobblecakes bakery described in Problem 2 is 12,000 cupcakes annually, determine the break-even volume as a percentage of that capacity.
> Andy Mendoza makes handcrafted dolls, which he sells at craft fairs. He is considering mass- producing the dolls to sell in stores. He estimates that the initial investment for plant and equipment will be $25,000, whereas labor, material, packaging, and
> Graphically illustrate the break-even volume for the Evergreen Fertilizer Company determined in Problem 4.
> Graphically illustrate the break-even volume for the Gobblecakes bakery determined in Problem 2.
