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Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam_Answer

Busn 278 Budgeting and Forecasting Final Exam.

1. (TCO 1) Which one of the following is not a benefit of budgeting? (Points : 5)

It facilitates the coordination of activities.
It provides definite objectives for evaluating performance.
It provides assurance that the company will achieve its objectives.
It provides early warning signs of potential threats.

2. (TCO 2) Which of the following is not a qualitative forecasting method? (Points : 5)

Executive opinions
Sales force polling
Delphi method
Classical decomposition

3. (TCO 3) Which of the following statements regarding the t-statistic is true? (Points : 5)

The t-statistic cannot be negative.
The t-statistic measures how many standard errors the coefficient is away from the independent variable.
The higher the t-value, the more confidence we have in the coefficient.
Low t-values indicate high reliability.

4. (TCO 4) Which of the following statements regarding the risk associated with R&D activities is incorrect? (Points : 5)

The amount of time between the R&D activity and the cash flows from the project does not affect risk.
Greater risk is associated with creating new products than improving existing products.
Risk increases as the time between the R&D activity and the cash flows from the project increases.
Assessing risk is a vital part of research and development.

5. (TCO 5) Program budgeting does not include: (Points : 5)

Controlling
Programming
Budgeting
Planning

6. (TCO 6) The payback period technique ___________ (Points : 5)

should be used as a final screening tool.
can be the only basis for the capital budgeting decision.
is relatively easy to compute and understand.
considers the expected profitability of a project.

7. (TCO 6) The profitability index is computed by dividing the ___________ (Points : 5)

total cash flows by the initial investment.
present value of cash inflows by the present value of each outflow.
initial investment by the total cash flows.
initial investment by the present value of cash flows.

8. (TCO 6) A company projects annual cash inflows of $85,000 each year for the next five years if it invests $300,000 in new equipment. The equipment has a five-year life and an estimated salvage value of

$75,000. What is the accounting rate of return on this investment? (Points : 5)

28.3%
13.3%
15%
43.3%

9. (TCO 6) If an asset costs $210,000 and is expected to have a $30,000 salvage value at the end of its ten-year life, and generates annual net cash inflows of $30,000 each year, the payback period is _____.

(Points : 5)

5 years
6 years
7 years
8 years

10. (TCO 6) Hyde Inc. is comparing several alternative capital budgeting projects as shown below:

Projects A B C

Initial Investment $110,000 $90,000 $50,000

Present value of cash inflows $100,000 $100,000 $60,000

Using the profitability index, rank the projects, starting with the most attractive. (Points : 5)

A, C, B.
A, B, C.
C, A, B.
C, B, A.

11. (TCO 6) Cleaners, Inc. is considering purchasing equipment costing $30,000 with a six-year useful life. The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its

useful life with no salvage value. Cleaners requires a 10% rate of return. What is the approximate net present value of this investment? (Points : 5)

$13,800
$1,794
$886
$2,748

12. (TCO 7) Which of the following would not appear as a fixed expense on a selling and administrative expense budget? (Points : 5)

Freight-out
Office salaries
Property taxes
Depreciation

13. (TCO 7) A company budgeted unit sales of 102,000 units for January, 2008 and 120,000 units for February, 2008. The company has a policy of having an inventory of units on hand at the end of each

month equal to 30% of next month’s budgeted unit sales. If there were 30,600 units of inventory on hand on December 31, 2007, how many units should be produced in January, 2008 in order for the company

to meet its goals? (Points : 5)

107,400 units
102,000 units
96,600 units
138,000 units

14. (TCO 8) Standards that are based on efficient activity with allowances for unavoidable losses are called _______ (Points : 5)

basic standards.
maximum efficiency standards.
currently attainable standards.
expected standards.

15. (TCO 9) A static budget is appropriate for __________ (Points : 5)

variable overhead costs.
direct materials costs.
fixed overhead costs.
none of these.

16. (TCO 9) If the activity level increases 10%, total variable costs will ___________. (Points : 5)

remain the same
increase by more than 10%
decrease by less than 10%
increase 10%

17. (TCO 9) At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted

to $6,000. Using the high-low method, what is the estimated fixed cost element of power costs? (Points : 5)

$12,000
$6,000
$3,600
$8,400

18. (TCO 10) Which of the following statements regarding budget reports is incorrect? (Points : 5)

The cost of budget reports should not outweigh the benefits.
Budget reports are used for planning, control, and information.
Reports prepared for upper management typically have fewer details than reports prepared for lower-level managers.
Reports are prepared more frequently for upper management than for lower-level managers.

Page 2

1. (TCO 7) The first step in creating the master budget is the sales budget. Describe this budget and the information it includes. Why is the accuracy of the sales budget important? (Points : 20)

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each Part.

Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.

(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A

35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B

27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:
Calls

Costs

2,000

$2,400

1,500

2,000

2,200

2,600

2,500

2,900

2,300

2,700

1,700

2,200

Identify the fixed and variable cost elements using the high-low method.

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each.
Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is

computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new

investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.
(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second

month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A 35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B 27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:

Calls Costs

2,000 $2,400

1,500 2,000

2,200 2,600

2,500 2,900

2,300 2,700

1,700 2,200

Identify the fixed and variable cost elements using the high-low method.

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Devry Busn 278 Budgeting and Forecasting Final Exam_Answer

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GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

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GSCM 434 Logistics with Lab All Weeks Set 1 part 1

GSCM 434 Logistics with Lab All Weeks Set 1 part 2

GSCM 434 Logistics with Lab All Weeks Set 1 part 3

GSCM 434 Logistics with Lab All Weeks Set 2 part 1

GSCM 434 Logistics with Lab All Weeks Set 2 part 2

GSCM 434 Logistics with Lab All Weeks Set 2 part 3

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GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

For getting the instant download solution, Please click on the “PURCHASE” link below to get GSCM 434 Logistics with Lab All Weeks Discussion Homework Lab Quiz Mid and Final Exam Set 1_2_3 and 4 Answer

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GSCM 434 Logistics with Lab All Weeks Set 1 part 1

GSCM 434 Logistics with Lab All Weeks Set 1 part 2

GSCM 434 Logistics with Lab All Weeks Set 1 part 3

GSCM 434 Logistics with Lab All Weeks Set 2 part 1

GSCM 434 Logistics with Lab All Weeks Set 2 part 2

GSCM 434 Logistics with Lab All Weeks Set 2 part 3

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

Set 1

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) ________ and ________ are the two basic organizational structures associated with logistics.
Centralized; hierarchical
Fragmented; centralized
Fragmented; unified
Unified; hierarchical

Question 2. 2. (TCO 10) One problem with a _________ logistics structure is that, because logistics activities are scattered throughout the firm, they likely remain subservient to the objectives of the department in which they are housed.
matrix
fragmented
decentralized
unified
hierarchical

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) A transportation manager who purchases a pre specified level of transportation services, regardless of the mode and/or carrier providing the transportation services, is known as a(n):
amodal shipper.
logistics manager.
modal shipper.
transportation manager.
None of the above

Question 5. 5. (TCO 2) A function in organization that encompasses all activities associated with the flow and transformation of goods from the raw material stage through to the end user, as well as the associated information flows, is termed:
production line.
supply chain.
marketing channel.
warehouse.

Question 6. 6. (TCO 2) Which of the following is not a key attribute of supply-chain management?
Inventory control
Leveraging technology
Customer power
All are key attributes.

Question 7. 7. (TCO 1) Inventory held for a number of reasons, including projected price increases, seasonal demand, and potential stockouts, is referred to as:
speculative stock.
safety stock.
buffer stock.
pipeline stock.

Question 8. 8. (TCO 1) Vendor managed inventory (VMI) benefits include:
reduced inventories.
fewer stockouts.
higher revenues.
a, b, and c

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) What is used in areas where dock workers cannot read but need a method to keep documents and shipments together?
An RFID tag
A shipper’s mark
A bar code
A shipment coordinator

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) The raw materials, component parts, and supplies bought from outside organizations to support a company’s operations define:
procurement.
global sourcing.
inbound logistics.
supply management.

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) A brownfield is:
a term for where crushed boxes are kept before recycling.
a term that refers to a potential facility site that has no trees needing to be cleared before construction.
a property for which use and redevelopment is complicated by past use.
an airport that lacks paved runways.

Question 2. 2. (TCO 5) ____ regulates the packaging of international air shipments.
An individual airline
The United Nations
A country’s federal government
The International Air Transport Association

Question 3. 3. (TCO 5) ____ systems consider the reverse flow of products, their reuse, and the marketing and distribution of recovered products.
Eco-
Open-loop
Retro-movement
Closed-loop

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) Order transmittal is:
the same thing as an order cycle.
the series of events that occur between the time a customer places an order and the time the seller receives the order.
the series of events that occur between the time the customer perceives the need for something and the time the seller receives the order.
the series of events between the time a customer places an order and the time the order cycle begins.

Question 6. 6. (TCO 9) How do data and information differ?
Data are a body of facts in a format suitable for decision making, whereas information is simply facts.
They are the same.
Data are simply facts; information is a body of facts in a format suitable for decision making.
Data are associated with decision support systems; information is associated with ERP systems.

Question 7. 7. (TCO 9) Which of the following is not considered a general software package?
Spreadsheets
Word processing
Database management
All are general software packages.

Question 8. 8. (TCO 12) Surveys and analog techniques are examples of ____ forecasting.
cause and effect
time series
exponential smoothing
judgmental

Question 9. 9. (TCO 12) Which forecasting techniques tend to be appropriate when there is little or no historical data?
Exponential smoothing
Judgmental
Time series
Cause and effect

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

Page 3

Question 1. 1. (TCO 4) What is a free trade zone?

Question 2. 2. (TCO 9) Discuss some of the challenges associated with computer security.

Question 3. 3. (TCO 9) Why are some companies hesitant to adopt RFID technology?

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) According to the text, what is contract warehousing?

Question 6. 6. (TCO 14) What areas and/or activities are typically planned to be included into Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is order management?

Question 9. 9. (TCO 5) Compare and contrast the various handling characteristics associated with bulk cargoes.

Question 10. 10. (TCO 6) Examine the various methods of order transmittal and differentiate the relevant characteristics of each one.

Question 11. 11. (TCO 11) Compare and contrast the three primary factors for determining rates.

Set 2

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) What is the primary difference between pilferage and theft?
There is no difference between the two.
Theft refers to stolen merchandise worth more than $500.
Pilferage refers to stolen merchandise worth more than $500.
Pilferage involves a firm’s employees, whereas theft involves efforts from outsiders.

Question 2. 2. (TCO 10) With ___________, cost objects consume activities, and activities consume resources.
financial accounting
activity-based costing
cost accounting
standard costing
financial management

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) Based on cost, speed, and capacity, which of the following modes is most suitable for high-value, low-volume products (may be perishable or otherwise require urgent delivery)?
Pipelines
Air freight
Motor carriers
Railroads
Water

Question 5. 5. (TCO 2) All of the following terms have been used to refer to business logistics except:
business logistics.
industrial distribution.
logistics management.
All of the above are correct.

Question 6. 6. (TCO 2) The movement and storage of materials into a firm refers to:
physical distribution.
materials management.
inbound logistics.
outbound logistics.

Question 7. 7. (TCO 1) Stocks of goods and materials maintained for satisfaction of demand are known as:
supply chain.
inventory.
safety stock.
inventory management.

Question 8. 8. (TCO 1) Reorder point (ROP) is defined as the:
point used for calculating safety stock.
highest inventory level allowed.
lowest inventory level allowed.
fixed level of inventory at which a replenishment order is placed.

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) Taxes that governments place on the importation of certain items are known as:
surcharges.
embargoes.
tariffs.
reciprocities.

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) Procurement and ________ are viewed as synonymous terms.
purchasing
inbound logistics
supply management
materials management

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) The purpose of ____ zones is to encourage business development in economically depressed portions of a particular city.
commercial
free trade
privatization
empowerment

Question 2. 2. (TCO 5) ____ refers to materials used for the containment, protection, handling, delivery, and presentation of goods.
Packaging
A box
Materials handling
Procurement

Question 3. 3. (TCO 5) The basic unit in unit loading is:
a box.
a crate.
a pallet.
a container.

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) In general, there are ____ possible ways to transmit orders.
six
five
four
three

Question 6. 6. (TCO 9) Spreadsheets represent what general type of information management system?
A communication system
A transaction processing system
A decision support system
An office automation system

Question 7. 7. (TCO 9) ____ refer to a network of satellites that transmits signals that pinpoint the exact location of an object.
Global positioning systems
Geographic information systems
Electronic data interchanges
Transportation management systems

Question 8. 8. (TCO 12) Which of the following is not a basic type of demand forecasting model?
Exponential smoothing
Cause and effect
Judgmental
Time series

Question 9. 9. (TCO 12) Successful implementations of collaborative planning, forecasting, and replenishment have resulted in 20 to 30% improvements in forecasting accuracy as well as ____ to ____ % reduction in order cycle times.
5; 10
10; 15
20; 30
40; 50

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

1. (TCO 4) How can advances in technology and communication influence the facility location decision?

Question 2. 2. (TCO 9) Discuss the relationship between automatic identification technologies and point-of-sale systems.

Question 3. 3. (TCO 9) Discuss the drawbacks of EDI.

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) Distinguish between warehouses and distribution centers.

Question 6. 6. (TCO 14) Why is there a high risk associated with implementing Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is pick-to-light technology?

Question 9. 9. (TCO 5) Examine the role of labeling in logistics management. Why is it needed, how is it used?

Question 10. 10. (TCO 6) Examine the order picking and assembly operations. Assess how and why they are needed.

Question 11. 11. (TCO 11) Compare and contrast the the trade-offs between price and service possible during rate and service negotiations.

For getting the solution, Please click on the “PURCHASE” link below to get GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

Set 1

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) ________ and ________ are the two basic organizational structures associated with logistics.
Centralized; hierarchical
Fragmented; centralized
Fragmented; unified
Unified; hierarchical

Question 2. 2. (TCO 10) One problem with a _________ logistics structure is that, because logistics activities are scattered throughout the firm, they likely remain subservient to the objectives of the department in which they are housed.
matrix
fragmented
decentralized
unified
hierarchical

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) A transportation manager who purchases a pre specified level of transportation services, regardless of the mode and/or carrier providing the transportation services, is known as a(n):
amodal shipper.
logistics manager.
modal shipper.
transportation manager.
None of the above

Question 5. 5. (TCO 2) A function in organization that encompasses all activities associated with the flow and transformation of goods from the raw material stage through to the end user, as well as the associated information flows, is termed:
production line.
supply chain.
marketing channel.
warehouse.

Question 6. 6. (TCO 2) Which of the following is not a key attribute of supply-chain management?
Inventory control
Leveraging technology
Customer power
All are key attributes.

Question 7. 7. (TCO 1) Inventory held for a number of reasons, including projected price increases, seasonal demand, and potential stockouts, is referred to as:
speculative stock.
safety stock.
buffer stock.
pipeline stock.

Question 8. 8. (TCO 1) Vendor managed inventory (VMI) benefits include:
reduced inventories.
fewer stockouts.
higher revenues.
a, b, and c

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) What is used in areas where dock workers cannot read but need a method to keep documents and shipments together?
An RFID tag
A shipper’s mark
A bar code
A shipment coordinator

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) The raw materials, component parts, and supplies bought from outside organizations to support a company’s operations define:
procurement.
global sourcing.
inbound logistics.
supply management.

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) A brownfield is:
a term for where crushed boxes are kept before recycling.
a term that refers to a potential facility site that has no trees needing to be cleared before construction.
a property for which use and redevelopment is complicated by past use.
an airport that lacks paved runways.

Question 2. 2. (TCO 5) ____ regulates the packaging of international air shipments.
An individual airline
The United Nations
A country’s federal government
The International Air Transport Association

Question 3. 3. (TCO 5) ____ systems consider the reverse flow of products, their reuse, and the marketing and distribution of recovered products.
Eco-
Open-loop
Retro-movement
Closed-loop

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) Order transmittal is:
the same thing as an order cycle.
the series of events that occur between the time a customer places an order and the time the seller receives the order.
the series of events that occur between the time the customer perceives the need for something and the time the seller receives the order.
the series of events between the time a customer places an order and the time the order cycle begins.

Question 6. 6. (TCO 9) How do data and information differ?
Data are a body of facts in a format suitable for decision making, whereas information is simply facts.
They are the same.
Data are simply facts; information is a body of facts in a format suitable for decision making.
Data are associated with decision support systems; information is associated with ERP systems.

Question 7. 7. (TCO 9) Which of the following is not considered a general software package?
Spreadsheets
Word processing
Database management
All are general software packages.

Question 8. 8. (TCO 12) Surveys and analog techniques are examples of ____ forecasting.
cause and effect
time series
exponential smoothing
judgmental

Question 9. 9. (TCO 12) Which forecasting techniques tend to be appropriate when there is little or no historical data?
Exponential smoothing
Judgmental
Time series
Cause and effect

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

Page 3

Question 1. 1. (TCO 4) What is a free trade zone?

Question 2. 2. (TCO 9) Discuss some of the challenges associated with computer security.

Question 3. 3. (TCO 9) Why are some companies hesitant to adopt RFID technology?

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) According to the text, what is contract warehousing?

Question 6. 6. (TCO 14) What areas and/or activities are typically planned to be included into Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is order management?

Question 9. 9. (TCO 5) Compare and contrast the various handling characteristics associated with bulk cargoes.

Question 10. 10. (TCO 6) Examine the various methods of order transmittal and differentiate the relevant characteristics of each one.

Question 11. 11. (TCO 11) Compare and contrast the three primary factors for determining rates.

Set 2

Week 8 : Wk8 – Final Exam

Page 1

Question 1. 1. (TCO 10) What is the primary difference between pilferage and theft?
There is no difference between the two.
Theft refers to stolen merchandise worth more than $500.
Pilferage refers to stolen merchandise worth more than $500.
Pilferage involves a firm’s employees, whereas theft involves efforts from outsiders.

Question 2. 2. (TCO 10) With ___________, cost objects consume activities, and activities consume resources.
financial accounting
activity-based costing
cost accounting
standard costing
financial management

Question 3. 3. (TCO 3) Rate structures deal with three factors. Which of the following is not one of them?
Shipment weight
Shipment distance
Product
Shipment direction
All of the above

Question 4. 4. (TCO 3) Based on cost, speed, and capacity, which of the following modes is most suitable for high-value, low-volume products (may be perishable or otherwise require urgent delivery)?
Pipelines
Air freight
Motor carriers
Railroads
Water

Question 5. 5. (TCO 2) All of the following terms have been used to refer to business logistics except:
business logistics.
industrial distribution.
logistics management.
All of the above are correct.

Question 6. 6. (TCO 2) The movement and storage of materials into a firm refers to:
physical distribution.
materials management.
inbound logistics.
outbound logistics.

Question 7. 7. (TCO 1) Stocks of goods and materials maintained for satisfaction of demand are known as:
supply chain.
inventory.
safety stock.
inventory management.

Question 8. 8. (TCO 1) Reorder point (ROP) is defined as the:
point used for calculating safety stock.
highest inventory level allowed.
lowest inventory level allowed.
fixed level of inventory at which a replenishment order is placed.

Question 9. 9. (TCO 8) International freight forwarders can provide a number of functions. Which is not one of them?
Booking space on carriers
Obtaining consular documents
Preparing an export declaration
Arranging for insurance
All are possible functions.

Question 10. 10. (TCO 8) Taxes that governments place on the importation of certain items are known as:
surcharges.
embargoes.
tariffs.
reciprocities.

Question 11. 11. (TCO 7) Which of the following statements is false?
Supplier selection and evaluation generally involve multiple criteria.
Selecting suppliers is the final step of the supplier selection and evaluation process.
The evolution of business practices and philosophies may require new supplier selection criteria.
Some supplier selection criteria may be contradictory.
All are true.

Question 12. 12. (TCO 7) Procurement and ________ are viewed as synonymous terms.
purchasing
inbound logistics
supply management
materials management

Question 13. 13. (TCO 4) Logisticians and supply chain managers have a particular interest in ____ taxes.
real estate
corporate income
inventory
severance

Page 2

Question 1. 1. (TCO 4) The purpose of ____ zones is to encourage business development in economically depressed portions of a particular city.
commercial
free trade
privatization
empowerment

Question 2. 2. (TCO 5) ____ refers to materials used for the containment, protection, handling, delivery, and presentation of goods.
Packaging
A box
Materials handling
Procurement

Question 3. 3. (TCO 5) The basic unit in unit loading is:
a box.
a crate.
a pallet.
a container.

Question 4. 4. (TCO 6) The order cycle is:
the time it takes for a check to clear.
the time it takes from when a customer places an order until the selling firm receives the order.
also called the replenishment cycle.
also called the vendor cycle.

Question 5. 5. (TCO 6) In general, there are ____ possible ways to transmit orders.
six
five
four
three

Question 6. 6. (TCO 9) Spreadsheets represent what general type of information management system?
A communication system
A transaction processing system
A decision support system
An office automation system

Question 7. 7. (TCO 9) ____ refer to a network of satellites that transmits signals that pinpoint the exact location of an object.
Global positioning systems
Geographic information systems
Electronic data interchanges
Transportation management systems

Question 8. 8. (TCO 12) Which of the following is not a basic type of demand forecasting model?
Exponential smoothing
Cause and effect
Judgmental
Time series

Question 9. 9. (TCO 12) Successful implementations of collaborative planning, forecasting, and replenishment have resulted in 20 to 30% improvements in forecasting accuracy as well as ____ to ____ % reduction in order cycle times.
5; 10
10; 15
20; 30
40; 50

Question 10. 10. (TCO 11) A(n) ____ rate simplifies each of the three primary rate factors—product, weight, and distance.
class
ad valorem
commodity
exception

Question 11. 11. (TCO 11) The shipment size that equates transportation charges for different weights and weight groups is the ____ concept.
optimum cost reliability point
satisfying
weight break
maximum-minimum

Question 12. 12. (TCO 13) Throughput refers to:
the storage capacity of a warehousing facility.
volume through a pipeline.
inventory turnover in a one-month period.
the amount of product entering and leaving a facility in a given time period.

Question 13. 13. (TCO 13) ____ refers to a process where a product is received in a facility, occasionally married with a product going to the same destination, and is then shipped at the earliest time, without going into longer-term storage.
Just-in-time
Cross-docking
Consolidation
Turbologistics

1. (TCO 4) How can advances in technology and communication influence the facility location decision?

Question 2. 2. (TCO 9) Discuss the relationship between automatic identification technologies and point-of-sale systems.

Question 3. 3. (TCO 9) Discuss the drawbacks of EDI.

Question 4. 4. (TCO 12) Forecasting accuracy refers to the relationship between actual and forecasted demand, and accuracy can be affected by various considerations. What is one of the challenges with the analog technique?

Question 5. 5. (TCO 13) Distinguish between warehouses and distribution centers.

Question 6. 6. (TCO 14) Why is there a high risk associated with implementing Distribution Resource Planning (DRP)?

Question 7. 7. (TCO 3) How are carriers legally classified?

Question 8. 8. (TCO 6) What is pick-to-light technology?

Question 9. 9. (TCO 5) Examine the role of labeling in logistics management. Why is it needed, how is it used?

Question 10. 10. (TCO 6) Examine the order picking and assembly operations. Assess how and why they are needed.

Question 11. 11. (TCO 11) Compare and contrast the the trade-offs between price and service possible during rate and service negotiations.

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GSCM 434 Logistics with Lab week 8 Final Exam Complete Set 1 and set 2 Answer

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MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

Week 8 : Wk8 – Final Exam

1. (TCO A) Based on the examples in the chapter, if you were asked to formulate a plan for a regional drive-in restaurant chain’s efforts to use information technology to develop a loyal customer base, what would be the best use of information technology from the list below? (Points : 10)
Use IT to increase supplier loyalty.
Use IT to increase operational efficiency.
Use IT to create new products and business models.
Use IT to achieve customer intimacy.

2. (TCO B) ________ are visual tools for presenting performance data in a BI system. (Points : 10)
Dashboards and scorecards
Parameterized reports
Reports and the drill-down feature
Scenarios and models

3. (TCO C) A DBMS makes the (Points : 10)
physical database available for different logical views.
logical database available for different analytical views.
physical database available for different analytical views.
logical database available for different physical views.

4. (TCO D) Cloud computing requires (Points : 10)
less energy consumption
additional servers and thus additional energy to communicate through the Internet to the cloud
IT organizations to increase staffing levels
Employees to have fewer applications and databases

5. (TCO E) Enterprise applications have become easier to install because: (Points : 10)
they have been reduced in function
vendors have modularized the applications so they can be rolled out a module at a time
vendors have changed their design to make the application more adaptable to diverse business processes
Users have become more familiar with how to use the applications

6. (TCO F) In the traditional systems development lifecycle, end users (Points : 10)
are important and ongoing members of the team from the original analysis phase through maintenance.
are important only in the testing phases.
have no input.
are limited to providing information requirements and reviewing the technical staff’s work.

7. (TCO G) Electronic data are more susceptible to destruction, fraud, error, and misuse because information systems concentrate data in computer files that (Points : 10)
are usually bound up in legacy systems that are difficult to access and difficult to correct in case of error.
are not secure because the technology to secure them did not exist at the time the files were created.
have the potential to be accessed by large numbers of people and by groups outside of the organization.
are frequently available on the Internet.

Page 2

1. (TCO G) Discuss the issue of security challenges on the Internet as that issue applies to a global enterprise. List at least 5 Internet security challenges. (Points : 40)

2. (TCO F) What qualities of object-oriented development make this method especially suitable for Internet applications? (Points : 40)

3. (TCO E) Explain why standards are so important in information technology? What standards have been important for the growth of Internet technologies? (Points : 40)

4. (TCO D) What is cloud computing and how do you think its developments could impact businesses? (Points : 40)

5. (TCO C) IF you were to design the new contracts database for a publishing house what fields do you anticipate needing? Which of these fields might be in use in other databases used by the company? (Points : 40)

6. (TCO B) You are advising the owner of Small town Computer, a new, local computer repair store that also builds custom computers to order. What competitive strategies could Small town Computer exert? Which ones will it have difficulty exercising? (Points : 40)

7. TCO (A) You work for an auto manufacturer and distributor. How could you use information systems to achieve greater customer intimacy? (Points : 40)

For getting the instant download solution, Please click on the “PURCHASE” link below to get MIS 535 Managerial Appls of Info Tech_Week 8 _Final Exam_ 100% correct answer

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MIS 535 Managerial Appls of Info Tech

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FIN-515-Managerial Finance Course_Week 8_ FINAL EXAM_ALL Four SETS_A+_100 OUT OF 100_Answer

FIN-515-Managerial Finance Course_Week 8_ FINAL EXAM_ALL Four SETS_A+_100 OUT OF 100_Answer

FIN-515-Managerial Finance Course_Week 8_ FINAL EXAM_ALL Four SETS_A+_100 OUT OF 100_Answer

FIN-515-Managerial Finance Course_Week 8_ FINAL EXAM_ALL Four SETS_A+_100 OUT OF 100_Answer

FIN-515-Managerial Finance Course_Week 8_ FINAL EXAM_ALL Four SETS_A+_100 OUT OF 100_Answer

Set 1

Final Exam Page 1

1. (TCO A) Which of the following does NOT always increase a company’s market value? (Points : 5)
Increasing the expected growth rate of sales
Increasing the expected operating profitability (NOPAT/Sales)
Decreasing the capital requirements (Capital/Sales)
Decreasing the weighted average cost of capital
Increasing the expected rate of return on invested capital

2. (TCO F) Which of the following statements is correct? (Points : 5)
The NPV, IRR, MIRR, and discounted payback (using a payback requirement of 3 years or less) methods always lead to the same accept/reject decisions for independent projects.
For mutually exclusive projects with normal cash flows, the NPV and MIRR methods can never conflict, but their results could conflict with the discounted payback and the regular IRR methods.
Multiple IRRs can exist, but not multiple MIRRs. This is one reason some people favor the MIRR over the regular IRR.
If a firm uses the discounted payback method with a required payback of 4 years, then it will accept more projects than if it used a regular payback of 4 years.
The percentage difference between the MIRR and the IRR is equal to the project’s WACC.

3. (TCO D) Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 25% for the next 4 years, after which competition will probably reduce the growth rate in earnings and dividends to zero, i.e., g = 0. The company’s last dividend, D0, was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of the common stock?
a. $26.77
b. $27.89
c. $29.05
d. $30.21
e. $31.42
(Points : 20)

4. (TCO G) Singal Inc. is preparing its cash budget. It expects to have sales of $30,000 in January, $35,000 in February, and $35,000 in March. If 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for March?
a. $24,057
b. $26,730
c. $29,700
d. $33,000
e. $36,300
(Points : 20)

Final Exam Page 2
1. (TCO H) Zervos Inc. had the following data for 2008 (in millions). The new CFO believes (a) that an improved inventory management system could lower the average inventory by $4,000, (b) that improvements in the credit department could reduce receivables by $2,000, and (c) that the purchasing department could negotiate better credit terms and thereby increase accounts payable by $2,000. Furthermore, she thinks that these changes would not affect either sales or the costs of goods sold. If these changes were made, by how many days would the cash conversion cycle be lowered?
Original Revised
Annual sales: unchanged
Cost of goods sold: unchanged
Average inventory: lowered by $4,000
Average receivables: lowered by $2,000
Average payables: increased by $2,000
Days in year $110,000
$80,000
$20,000
$16,000
$10,000
365 $110,000
$80,000
$16,000
$14,000
$12,000
365

a. 34.0
b. 37.4
c. 41.2
d. 45.3
e. 49.8 (Points : 30)

2. (TCO C) Bumpas Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15, net 50. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its nonfree trade credit? (Assume a 365-day year.)
a. 20.11%
b. 21.17%
c. 22.28%
d. 23.45%
e. 24.63%
(Points : 30)

3. (TCO E) You were hired as a consultant to the Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of common from retained earnings is 11.25%, and the tax rate is 40%. The firm will not be issuing any new common stock. What is Quigley’s WACC?
a. 8.15%
b. 8.48%
c. 8.82%
d. 9.17%
e. 9.54%
(Points : 30)

4. (TCO B) A company forecasts the free cash flows (in millions) shown below. The weighted average cost of capital is 13%, and the FCFs are expected to continue growing at a 5% rate after Year 3. Assuming that the ROIC is expected to remain constant in Year 3 and beyond, what is the Year 0 value of operations, in millions?
Year: 1 2 3
Free cash flow: -$15 $10 $40
a. $315
b. $331
c. $348
d. $367
e. $386
(Points : 35)

5. (TCO G) Based on the corporate valuation model, Hunsader’s value of operations is $300 million. The balance sheet shows $20 million of short-term investments that are unrelated to operations, $50 million of accounts payable, $90 million of notes payable, $30 million of long-term debt, $40 million of preferred stock, and $100 million of common equity. The company has 10 million shares of stock outstanding. What is the best estimate of the stock’s price per share?
a. $13.72
b. $14.44
c. $15.20
d. $16.00
e. $16.80
(Points : 35)

6. TCO G) Clayton Industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm’s additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions.
Last year’s sales = S0 $350 Last year’s accounts payable $40
Sales growth rate = g 30% Last year’s notes payable $50
Last year’s total assets = A0* $500 Last year’s accruals $30
Last year’s profit margin = PM 5% Target payout ratio 60%

a. $102.8
b. $108.2
c. $113.9
d. $119.9
e. $125.9 (Points : 30)

Set 2

1. (TCO A) Which of the following does NOT always increase a company’s market value? (Points : 5)
Increasing the expected growth rate of sales
Increasing the expected operating profitability (NOPAT/Sales)
Decreasing the capital requirements (Capital/Sales)
Decreasing the weighted average cost of capital
Increasing the expected rate of return on invested capital

2. (TCO F) Which of the following statements is correct? (Points : 5)
The MIRR and NPV decision criteria can never conflict.
The IRR method can never be subject to the multiple IRR problem, while the MIRR method can be.
One reason some people prefer the MIRR to the regular IRR is that the MIRR is based on a generally more reasonable reinvestment rate assumption.
The higher the WACC, the shorter the discounted payback period.
The MIRR method assumes that cash flows are reinvested at the crossover rate.

3. (TCO D) The Ramirez Company’s last dividend was $1.75. Its dividend growth rate is expected to be constant at 25% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return (rs) is 12%. What is the best estimate of the current stock price?
a. $41.58
b. $42.64
c. $43.71
d. $44.80
e. $45.92
(Points : 20)

4. (TCO G) The ABC Corporation’s budgeted monthly sales are $4,000. In the first month, 40% of its customers pay and take the 3% discount.
The remaining 60% pay in the month following the sale and don’t receive a discount.
ABC’s bad debts are very small and are excluded from this analysis.
Purchases for next month’s sales are constant each month at $2,000. Other payments for wages, rent, and taxes are constant at $500 per month.
Construct a single month’s cash budget with the information given. What is the average cash gain or (loss) during a typical month for the ABC Corporation? (Points : 20)

5. (TCO G) Howton & Howton Worldwide (HHW) is planning its operations for the coming year, and the CEO wants you to forecast the firm’s additional funds needed (AFN). The firm is operating at full capacity. Data for use in the forecast are shown below. However, the CEO is concerned about the impact of a change in the payout ratio from the 10% that was used in the past to 50%, which the firm’s investment bankers have recommended. Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level? All dollars are in millions.
Last year’s sales = S0 $300 Last year’s accounts payable $50
Sales growth rate = g 40% Last year’s notes payable $15
Last year’s total assets = A0* $500 Last year’s accruals $20
Last year’s profit margin = PM 20% Initial payout ratio 10%

a. $31.9
b. $33.6
c. $35.3
d. $37.0
e. $38.9 (Points : 30)

The AFN model forecasts MicroDrive’s need for external funds to support its forecasted 2011 sales. Year 0 is 2010, which has just ended, and Year 1 is 2011, which has just begun. (Ignore rounding differences.)

Part II. Additional Funds Needed (AFN) to Support Growth

Page 2

1. (TCO H) Your consulting firm was recently hired to improve the performance of Shin-Soenen Inc, which is highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firm’s cash conversion cycle. Using the following information and a 365-day year, what is the firm’s present cash conversion cycle?
Average inventory =
Annual sales =
Annual cost of goods sold =
Average accounts receivable =
Average accounts payable = $75,000
$600,000
$360,000
$160,000
$25,000

a. 120.6 days
b. 126.9 days
c. 133.6 days
d. 140.6 days
e. 148.0 days (Points : 30)

2. (TCO C) Bumpas Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15, net 50. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its nonfree trade credit? (Assume a 365-day year.)
a. 20.11%
b. 21.17%
c. 22.28%
d. 23.45%
e. 24.63%
(Points : 30)

3. (TCO E) Daves Inc. recently hired you as a consultant to estimate the company’s WACC. You have obtained the following information. (1) The firm’s noncallable bonds mature in 20 years, have an 8.00% annual coupon, a par value of $1,000, and a market price of $1,050.00. (2) The company’s tax rate is 40%. (3) The risk-free rate is 4.50%, the market risk premium is 5.50%, and the stock’s beta is 1.20. (4) The target capital structure consists of 35% debt and the balance is common equity. The firm uses the CAPM to estimate the cost of common stock, and it does not expect to issue any new shares. What is its WACC?
a. 7.16%
b. 7.54%
c. 7.93%
d. 8.35%
e. 8.79%

(Points : 30)

4. (TCO B) A company forecasts the free cash flows (in millions) shown below. The weighted average cost of capital is 13%, and the FCFs are expected to continue growing at a 5% rate after Year 3. Assuming that the ROIC is expected to remain constant in Year 3 and beyond, what is the Year 0 value of operations, in millions?
Year: 1 2 3
Free cash flow: -$15 $10 $40
a. $315
b. $331
c. $348
d. $367
e. $386

5. (TCO G) Based on the corporate valuation model, the value of a company’s operations is $900 million. Its balance sheet shows $70 million in accounts receivable, $50 million in inventory, $30 million in short-term investments that are unrelated to operations, $20 million in accounts payable, , $140 million in retained earnings, and $280 million in total common equity. If the company has 25 million shares of stock outstanding, what is the best estimate of the stocks price per share?
a. $23.00
b. $25.56
c. $28.40
d. $31.24
e. $34.36
verified 2 places, pretty sure.
(Points : 35)

Set 3

Week 8 : Final Week – Final Exam Page 1

1. (TCO A) Which of the following does NOT always increase a company’s market value? (Points : 5)
Increasing the expected growth rate of sales
Increasing the expected operating profitability (NOPAT/Sales)
Decreasing the capital requirements (Capital/Sales)
Decreasing the weighted average cost of capital
Increasing the expected rate of return on invested capital

2. (TCO F) Which of the following statements is correct? (Points : 5)
For a project with normal cash flows, any change in the WACC will change both the NPV and the IRR.
To find the MIRR, we first compound cash flows at the regular IRR to find the TV, and then we discount the TV at the WACC to find the PV.
The NPV and IRR methods both assume that cash flows can be reinvested at the WACC. However, the MIRR method assumes reinvestment at the MIRR itself.
If two projects have the same cost, and if their NPV profiles cross in the upper right quadrant, then the project with the higher IRR probably has more of its cash flows coming in the later years.
If two projects have the same cost, and if their NPV profiles cross in the upper right quadrant, then the project with the lower IRR probably has more of its cash flows coming in the later years.

3. (TCO D) Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 25% for the next 4 years, after which competition will probably reduce the growth rate in earnings and dividends to zero, i.e., g = 0. The company’s last dividend, D0, was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of the common stock?
a. $26.77
b. $27.89
c. $29.05
d. $30.21
e. $31.42
(Points : 20)

4. (TCO G) The ABC Corporation’s budgeted monthly sales are $4,000. In the first month, 40% of its customers pay and take the 3% discount.
The remaining 60% pay in the month following the sale and don’t receive a discount.
ABC’s bad debts are very small and are excluded from this analysis.
Purchases for next month’s sales are constant each month at $2,000. Other payments for wages, rent, and taxes are constant at $500 per month.
Construct a single month’s cash budget with the information given. What is the average cash gain or (loss) during a typical month for the ABC Corporation? (Points : 20)

5. (TCO G) Howton & Howton Worldwide (HHW) is planning its operations for the coming year, and the CEO wants you to forecast the firm’s additional funds needed (AFN). The firm is operating at full capacity. Data for use in the forecast are shown below. However, the CEO is concerned about the impact of a change in the payout ratio from the 10% that was used in the past to 50%, which the firm’s investment bankers have recommended. Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level? All dollars are in millions.
Last year’s sales = S0 $300 Last year’s accounts payable $50
Sales growth rate = g 40% Last year’s notes payable $15
Last year’s total assets = A0* $500 Last year’s accruals $20
Last year’s profit margin = PM 20% Initial payout ratio 10%

a. $31.9
b. $33.6
c. $35.3
d. $37.0
e. $38.9 (Points : 30)

Week 8 : Final Week – Final Exam Page 2

1. (TCO H) The Dewey Corporation has the following data, in thousands. Assuming a 365-day year, what is the firm’s cash conversion cycle?
Annual sales =
Annual cost of goods sold =
Inventory =
Accounts receivable =
Accounts payable = $45,000
$31,500
$4,000
$2,000
$2,400

a. 25 days
b. 28 days
c. 31 days
d. 35 days
e. 38 days (Points : 30)

2. (TCO C) Bumpas Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15, net 50. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its nonfree trade credit? (Assume a 365-day year.)
a. 20.11%
b. 21.17%
c. 22.28%
d. 23.45%
e. 24.63%
(Points : 30)

3. (TCO E) You were hired as a consultant to the Quigley Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equity. The interest rate on new debt is 6.50%, the yield on the preferred is 6.00%, the cost of common from retained earnings is 11.25%, and the tax rate is 40%. The firm will not be issuing any new common stock. What is Quigley’s WACC?
a. 8.15%
b. 8.48%
c. 8.82%
d. 9.17%
e. 9.54%
(Points : 30)

4. (TCO B) Leak Inc. forecasts the free cash flows (in millions) shown below. If the weighted average cost of capital is 11% and FCF is expected to grow at a rate of 5% after Year 2, what is the Year 0 value of operations, in millions? Assume that the ROIC is expected to remain constant in Year 2 and beyond (and do not make any half-year adjustments).
Year: 1 2
Free cash flow: -$50 $100
a. $1,456
b. $1,529
c. $1,606
d. $1,686
e. $1,770
(Points : 35)

5. (TCO G) Based on the corporate valuation model, the value of a company’s operations is $1,200 million. The company’s balance sheet shows $80 million in accounts receivable, $60 million in inventory, and $100 million in short-term investments that are unrelated to operations. The balance sheet also shows $90 million in accounts payable, $120 million in notes payable, $300 million in long-term debt, $50 million in preferred stock, $180 million in retained earnings, and $800 million in total common equity. If the company has 30 million shares of stock outstanding, what is the best estimate of the stock’s price per share?
a. $24.90
b. $27.67
c. $30.43
d. $33.48
e. $36.82
(Points : 35)

6. Sapp Trucking’s balance sheet shows a total of noncallable $45 million long-term debt with a coupon rate of 7.00% and a yield to maturity of 6.00%. This debt currently has a market value of $50 million. The balance sheet also shows that the company has 10 million shares of common stock, and the book value of the common equity (common stock plus retained earnings) is $65 million. The current stock price is $22.50 per share; stockholders’ required return, rs, is 14.00%; and the firm’s tax rate is 40%. The CFO thinks the WACC should be based on market value weights, but the president thinks book weights are more appropriate. What is the difference between these two WACCs?

7. based on the corporate valuation model, bernile Inc’s value of operation is $750 million. Its balance sheet shows $50 million of short-term investments that are unrelated to operations, $100 million of accounts payable, $100 million of notes payable, $200 million of long term debt, $40 million of common stock (par plus pain -in – capital), and $160 million of retained earnings. What is the best estimate for the firm’s value of equity, in millions

Set 4

Question 1. 1. (TCO A) Which of the following statements is NOT correct? (Points : 5)
The corporate valuation model can be used both for companies that pay dividends and those that do not pay dividends.
The corporate valuation model discounts free cash flows by the required return on equity.
The corporate valuation model can be used to find the value of a division.
An important step in applying the corporate valuation model is forecasting the firm’s pro forma financial statements.
Free cash flows are assumed to grow at a constant rate beyond a specified date in order to find the horizon, or terminal, value.

Question 2. 2. (TCO F) Which of the following statements is correct? (Points : 5)
One advantage of the NPV over the IRR is that NPV takes account of cash flows over a project’s full life, whereas IRR does not.
One advantage of the NPV over the IRR is that NPV assumes that cash flows will be reinvested at the WACC, whereas IRR assumes that cash flows are reinvested at the IRR. The NPV assumption is generally more appropriate.
One advantage of the NPV over the MIRR method is that NPV takes account of cash flows over a project’s full life, whereas MIRR does not.
One advantage of the NPV over the MIRR method is that NPV discounts cash flows, whereas the MIRR is based on undiscounted cash flows.
Since cash flows under the IRR and MIRR are both discounted at the same rate (the WACC), these two methods always rank mutually exclusive projects in the same order.

Question 3. 3. (TCO D) The Ackert Company’s last dividend was $1.55. The dividend growth rate is expected to be constant at 1.5% for 2 years, after which dividends are expected to grow at a rate of 8.0% forever. The firm’s required return (rs) is 12.0%. What is the best estimate of the current stock price?
a. $37.05
b. $38.16
c. $39.30
d. $40.48
e. $41.70
(Points : 20)

4. (TCO D) The Ramirez Company’s last dividend was $1.75. Its dividend growth rate is expected to be constant at 25% for 2 years, after which dividends are expected to grow at a rate of 6% forever. Its required return (rs) is 12%. What is the best estimate of the current stock price?
a. $41.58
b. $42.64
c. $43.71
d. $44.80
e. $45.92
(Points : 20)

Question 5. 4. (TCO G) The Chadmark Corporation’s budgeted monthly sales are $3,000. In the first month, 40% of its customers pay and take the 2% discount.
The remaining 60% pay in the month following the sale and don’t receive a discount.
Chadmark’s bad debts are very small and are excluded from this analysis. Purchases for next month’s sales are constant each month at $1,500.
Other payments for wages, rent, and taxes are constant at $700 per month. Construct a single month’s cash budget with the information given.
What is the average cash gain or (loss) during a typical month for the Chadmark Corporation?
(Points : 20)

Question 5. 5. (TCO G) Clayton Industries is planning its operations for next year, and Ronnie Clayton, the CEO, wants you to forecast the firm’s additional funds needed (AFN). The firm is operating at full capacity. Data for use in your forecast are shown below. Based on the AFN equation, what is the AFN for the coming year? Dollars are in millions.
Last year’s sales = S0 $350 Last year’s accounts payable $40
Sales growth rate = g 30% Last year’s notes payable $50
Last year’s total assets = A0* $500 Last year’s accruals $30
Last year’s profit margin = PM 5% Target payout ratio 60%

a. $102.8
b. $108.2
c. $113.9
d. $119.9
e. $125.9 (Points : 30)

Time Remaining:

Page: 1 2

Final Exam Page 2

Question 1. 1. (TCO H) Your consulting firm was recently hired to improve the performance of Shin-Soenen Inc, which is highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firm’s cash conversion cycle. Using the following information and a 365-day year, what is the firm’s present cash conversion cycle?
Average inventory =
Annual sales =
Annual cost of goods sold =
Average accounts receivable =
Average accounts payable = $75,000
$600,000
$360,000
$160,000
$25,000

a. 120.6 days
b. 126.9 days
c. 133.6 days
d. 140.6 days
e. 148.0 days (Points : 30)

Question 2. 2. (TCO C) Bumpas Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 2/15, net 50. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its nonfree trade credit? (Assume a 365-day year.)
a. 20.11%
b. 21.17%
c. 22.28%
d. 23.45%
e. 24.63%
(Points : 30)

Question 3. 3. (TCO E) Daves Inc. recently hired you as a consultant to estimate the company’s WACC. You have obtained the following information. (1) The firm’s noncallable bonds mature in 20 years, have an 8.00% annual coupon, a par value of $1,000, and a market price of $1,050.00. (2) The company’s tax rate is 40%. (3) The risk-free rate is 4.50%, the market risk premium is 5.50%, and the stock’s beta is 1.20. (4) The target capital structure consists of 35% debt and the balance is common equity. The firm uses the CAPM to estimate the cost of common stock, and it does not expect to issue any new shares. What is its WACC?
a. 7.16%
b. 7.54%
c. 7.93%
d. 8.35%
e. 8.79%
(Points : 30)

Question 4. 4. (TCO B) Leak Inc. forecasts the free cash flows (in millions) shown below. If the weighted average cost of capital is 11% and FCF is expected to grow at a rate of 5% after Year 2, what is the Year 0 value of operations, in millions? Assume that the ROIC is expected to remain constant in Year 2 and beyond (and do not make any half-year adjustments).
Year: 1 2
Free cash flow: -$50 $100
a. $1,456
b. $1,529
c. $1,606
d. $1,686
e. $1,770
(Points : 35)

5. (TCO G) Howton & Howton Worldwide (HHW) is planning its operations for the coming year, and the CEO wants you to forecast the firm’s additional funds needed (AFN). The firm is operating at full capacity. Data for use in the forecast are shown below. However, the CEO is concerned about the impact of a change in the payout ratio from the 10% that was used in the past to 50%, which the firm’s investment bankers have recommended. Based on the AFN equation, by how much would the AFN for the coming year change if HHW increased the payout from 10% to the new and higher level? All dollars are in millions.
Last year’s sales = S0 $300 Last year’s accounts payable $50
Sales growth rate = g 40% Last year’s notes payable $15
Last year’s total assets = A0* $500 Last year’s accruals $20
Last year’s profit margin = PM 20% Initial payout ratio 10%

a. $31.9
b. $33.6
c. $35.3
d. $37.0
e. $38.9 (Points : 30)

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GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

GSCM209 Operations Analysis_Week 8_ Final Exam_A+_Detailed Answer

Page 1

1. (TCO 8) What are the three parts of a wait-line system? (Points : 15)

2. (TCO 9) What is the objective function of LP? (Points : 15)

3. (TCO 11 & 12) What are two of the steps in a simplex maximization problem? (Points : 15)

4. (TCO 10) What will happen if the right-hand side of a constraint is changed? (Points : 15)

5. (TCO 15 & 16) What are three of the basic steps that both PERT and CPM follow? (Points : 15)

6. (TCO 16) What is a “dummy activity?” (Points : 15)

7. (TCO 3, 4, & 5) What is the formula for linear regression? Define each part. (Points : 15)

8. (TCO 1) What are the four qualitative forecasting approaches that are available to us? (Points : 15)

9. (TCO 6) Describe the “revenue junction.” (Points : 15)

10. (TCO 8) What are the three parts of a typical queuing system? (Points : 15)

11. (TCO 8) When designing a waiting line system, what “qualitative” concerns need to be considered? (Points : 15)

12. (TCO 8) What is the expected value with perfect information? (Points : 15)

Page 2

1. (TCO 1 &2) What is the forecast for Aug based on a weighted moving average applied to the following past demand data and using the weights: 5, 3, 1.5? (largest weight is for most recent data)
Feb. Mar. Apr. May Jun. Jul.
30 35 22 27 33 40
(Points : 30)

2. (TCO 3, 4, and 5) The XYZ Paint Shop owns and operates a dozen shops in southern Iowa. Their signature paint is black epoxy. Sales (X, in millions of dollars) is related to Profits (Y, in hundreds of thousands of dollars) by the regression equation Y = 6.321 + 0.65X. What is your forecast of profit for a store with sales of $25 million? $65 million? (Points : 30)

3. (TCO 6 and 7) A product is currently made in a job shop, where fixed costs are $4,500 per year and variable cost is $10 per unit. The firm sells the product for $70 per unit. What is the break-even point for this operation? What is the profit (or loss) on a demand of 220 units per year? (Points : 30)

4. (TCO 13, 14) XYZ coating company has reviewed four new processes for improving their coating line. The four processes, labeled A, B, C, and D use different technology and have different capacities. All the processes have the same level of production and the lifetime.
The four states of nature represent four levels of consumer acceptance of the firm’s products. Values in the table are net present value of future profits in millions of dollars.
Forecasts indicate that there is a 0.4 probability of acceptance level 1, 0.3 chance of acceptance level 2, 0.6 chance of acceptance level 3, and 0.5 change of acceptance level 4.
Consumer Acceptance Level (states of nature)
1 2 3 4
Alternative A 35 55 85 165
Alternative B -105 -5 155 225
Alternative c 75 85 75 65
Alternative D 55 55 75 65

Using the criterion of expected monetary value, which production alternative should be chosen? (Points : 30)

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MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

MGMT 520 Lgl, Poli, Ethcl Dimns of Busn Week 8_Final Term Set 4 Question and answer

1.Explain the concept of economic activity. In your answer include when it would be applied.

2. Why was microsoft considered a monopoly? State which section of law monopolies are in violation of. Give an example of a company that would be considered a monopoly today.

3. Consider the following sequences of separate offers and potential acceptances. Indicate in each scenario whether there would be a contract by the end of each exchange. Explain your answer.
August 1, 2010: Suchada mails an offer to Mohammed
August 2, 2010: Mohammed receives the offer
August 3, 2010: Suchada mails a revocation
August 4, 2010: Mohammed mails an acceptance
August 5, 2010: Mohammed receives the revocation
August 6, 2010: Suchada receives the acceptance
Show the result.

August 1, 2010: Ibrahima mails an offer to Sadeea
August 2, 2010: Sadeea receives the offer
August 3, 2010: Sadeea wires an acceptance
August 4, 2010: Sadeea wires a rejection
August 4, 2010 later: Ibrahima receives the acceptance
August 5, 2010: Ibrahima receives the rejection
Show the result. (3 points)

4. There is an amusement park that restricts entry to people of a certain race. The park sells food and is located approximately 1 mile off of the highway. Conclude whether or not this is valid under the U.S. constitution and demonstrate why or why not.

5. Luis owns a U.S. company and wants to expand into an overseas market. If a United States company wants to expand into a foreign market, what regulations would apply? Examine whether United States law would be applicable to the company’s operation abroad.

6 Iowa passed a statute restricting the length of vehicles that could use its highways. The length chosen was 55 feet. Semi trailers are generally 55 feet long; double or twin tracks (one cab pulling two trailers) are 65 feet long. Other states in the Midwest have adopted the 65-foot standard. Consolidated Freightways brought suit, challenging the Iowa statute as an unconstitutional burden on interstate commerce. The Iowa statute meant that Consolidated could not use its twins in Iowa. The Iowa legislature claims the 65 foot doubles are more dangerous than the 55 foot singles. However, the statute did provide a border exception: Towns and cities along Iowa borders could make an exception to the length requirements to allow trucks to use their city and town roads. Can Iowa’s statute survive a constitutional challenge? Is the statute an impermissible burden on interstate commerce? Demonstrate why.

7. Gillian purchased a TV and shortly thereafter read of the propensity of the TV to overheat and burst into flames. While watching TV, the set exploded and burned. Gillian experienced rippling burns. Will Gillian recover? Analyze the various issues and defenses in the case.

8. Normally it is not possible for an employer who owns a bakery to be liable for the assault committed by an employee on a customer because it is beyond the scope of employment? Provide an example where the employer in the scenario described would be liable.

9. Relate how an agency passes rules? Summarize the process and then state what one could do to oppose or challenge any rules/law. Provide an example in your summarization.

10. What is the difference between the U.S. v. Morrison rape case and Ollie’s Barbecue cases discussed in class regarding interstate commerce? Demonstrate your knowledge by explaining the elements necessary to bring a successful case involving the violation of the interstate commerce clause.

11. Provide three scenarios where a contract can be rescinded, revoked or terminated and then provide an example for each way you have presented.

12 In Midler v. Ford Motor Co., Bette Midler sued Ford for unauthorized appropriation. Explain what appropriation is and state what a person has to prove to win damages for it
. 13. What is ethics? Apply it to a situation currently going on ( at work, in the news, at home, school, etc.) and determine which ethical model would help the most. Provide the elements of the model you chose in your answer.

14 Charles, one of the richest people in the world, was walking down the street in New York City, where he saw a man in tattered clothes on a bench. He said to the man, “if you come around the corner with me to the clothing store, I’ll buy you a nice suit.” Having nothing else to do at the time, the man complied. However, when they got to the clothing store, Charles changed his mind. The man sued, alleging a unilateral contract had been formed: Charles had asked for an act, and the man had performed it. Decide whether this was an enforceable contract. How would you prove or disprove this?

15. Seleena took her car to the muffler shop to have the left muffler of her dual exhaust system replaced. From the waiting room she sees that the worker is preparing to remove the right muffler. Seleena says nothing, hoping that she’ll get a free muffler for the right side. Assess the situation.

16. Mrs. Bonet purchased a glass baking dish manufactured by Walmart. She purchased the dish at a retail drug store in New Jersey. Walmart manufactures its glassware in Ohio and distributes nationally. When Mrs. Phillips removed the baking dish from her oven (while making a casserole), the dish exploded and Mrs. Bonet was injured. Mrs. Bonet’s attorney wants to bring a product liability lawsuit in New Jersey. Walmart does not believe it can be forced to defend a lawsuit in New Jersey because it has no offices there. Can the New Jersey courts take jurisdiction? Demonstrate the liability of Walmart. Discuss an ethical business strategy to minimize liability for claims of product liability and breach of warranty

17. Beyonce has a New York corporation that manufactures jeans, tops, and sweaters. Samantha is her agent. During a trade show, Beyonce told Samantha not to let vendors know that Samantha had a principal. Discuss Samantha’s liability to the vendors if Beyonce did not honor the contracts. What would Samantha’s liability be if she told the vendors that she was working for Beyonce when she signed orders with several stores?

TCO E and H. A private high school hires a new superintendent, George Forester. The school is owned by a local Lutheran church and is run by a board of directors chosen by church members. Supt. Forester shows up for his first day of work and sends a memo via intercompany mail to all teachers:
Dear Staff:
There is a new sheriff in town – and it is me. As your new leader, I am implementing a dress code that includes no slacks or shorts for women and no earrings for male teachers. Men shall all be clean shaven. Violators will be docked 1 week’s pay; second offenses will result in a 1 week suspension without pay and third offenses, dismissal. All teachers will address me as “Pastor Forester” or “Amen, Pastor Forester.” Teachers who fail to abide by these dictates will be docked two points on their annual evaluations. Amen, Pastor Forester.”
That day, one teacher, Anna Seenandfeld has a birthday party at the school, having just turned 40. Her frown at the party shows everyone she is not happy about her party. Pastor Forestor had bought black balloons for her and jokes with the other teachers about the “over the hill” teacher. The next day, Pastor Forester goes into the teacher’s lounge and calls all nontenured teachers into his office. He tells them that he has assigned himself to be their mentoring teacher and that effectively immediately they will be evaluated weekly. One teacher, Anna Seenandfeld, begins to cry. Another teacher, Andy DuFrane, rolls his eyes and says, “God! These menopausal women should not be allowed around our students.” Pastor Forester goes to Anna and hugs her, offering her a tissue. He pats her gently on the behind and whispers, “Act your age, please.” When she forcefully pulls away from him, Pastor Forester assigns her to work Saturday detention for the next 3 weeks to “toughen her up.”
A pregnant P.E. teacher, Lisa Ready, is reassigned by Pastor Forester to a math position (even though she has only three credits in math) because Pastor Forester says this position is “less strenuous for a pregnant lady.”
On the third week of detention duty, a student stabs Anna, wounding her severely. Although she survives and recovers, she loses one kidney as a result of the injury. The school doesn’t offer health insurance, and Anna incurs over $55,000 for her hospital bills; the student (and his family) is insolvent.
One month later, a parent complains about his student being unable to succeed in his math course due to the teacher’s (Lisa’s) incompetence, Pastor Forester fires Lisa Ready for her inability to perform her job. Pastor Forester tells Lisa in front of her class of students, and then walks her out of the building; 2 hours later, Lisa goes into premature labor and delivers her first son, who has severe health issues as a result of being premature. The baby’s doctor states the cause of early labor as being from “intense duress and undue stress.” Lisa’s husband’s health insurance covers all of the costs of the birth and the baby’s care.
Pastor Forester is really not a pastor. His real name is Jerry Birches, a parolee with convictions for child molestation. His parole agreement prohibits him being closer than 1,000 feet to any school. In order to cut costs, the school had stopped doing background checks on new employees, and this slipped through the cracks. This comes to the attention of the school board, and the president of the board of directors immediately fires Pastor “Jerry Birches” Forester and notifies his parole officer of the violations. Pastor Forester claims the board knew about his background because one member of the board (his aunt Theresa) knew the truth.

1.
TCO E. Anna and Lisa both sue the school and Pastor Forester for discrimination and, further, for liability for their injuries (the stabbing damages and the damages to Lisa’s son’s health). You are on the board of directors and need to analyze the liability of the school. Limit your answer to the school’s liability only.
Write a brief memo as to whether Pastor Forester committed illegal or discriminatory practices in his brief tenure described in this situation. Then, analyze the potential liability of the school. Discuss agency liability, as well as any employment law aspects. Explain whether you feel that the two injured teachers have cases for recovery against the school. Discuss whether the school being a religious, private school has any bearing on or provides protection from liability. Include all defenses available to the school.

TCO H and E. In the discovery portion of the case, it is determined that Pastor Forester is really not a pastor. His real name is Jerry Birches, a parolee with convictions for child molestation. His parole agreement prohibits him being closer than 1,000 feet to any school. In order to cut costs, the school had stopped doing background checks on new employees, and this slipped through the cracks. The president of the board of directors immediately fires Pastor “Jerry Birches” Forester and notifies his parole officer of the violations. Pastor Forester claims the board knew about his background because one member of the board (his aunt Theresa) knew the truth. He claims her knowledge should be imputed to the entire board of directors.
The board immediately convenes and discusses “damage control.” It knows you took a law and ethics course recently and asks you to write a memo to the parents of the students, explaining the situation. Using ethical and legal considerations (including the fact you are in the middle of multiple lawsuits), write the memo.

TCOs F & G. Laura Etheridge and Rita O’Donnell, the CEO and Creative Director of Clean Clothes (a Texas-based lesbian women’s clothing line) brainstormed together and came up with a tagline for their new slacks line: “Masculine Attitude, Feminine Fit.” They market the product on YouTube, Twitter, and Facebook showcasing their “Funky Femme” slacks collection, made from a material that resembles alpaca wool but is actually organic cotton. To further the advertising impact, the team uses an Ellen DeGeneres look-alike in the YouTube video, where the model does the “Ellen dance” – and mouths “love the pants” as she points to her legs, and then walks off leading an Alpaca by a halter. Within months, the slacks are a huge hit in the lesbian community. Clean Clothes sends a letter to their attorney asking him to trademark their tagline and moves forward without another thought about it.
Meanwhile, Men2Wimmin, a French company with a branch in New York, has established a huge following in the gay and cross-dressing community. It has used the tagline “Feminine Attitude, Masculine Fit” for many years to advertise its drag queen dress collection for men on billboards, the Internet, and television.
Ellen DeGeneres learns that her likeness is being used to advertise for Clean Clothes. She watches the ad and is incensed. She spends the next week on her show bashing the Clean Clothes company and states that she would never endorse the use of Alpaca wool for clothing as she feels shearing them is cruel. (She doesn’t catch that the pants are really made from cotton.) Further, she says she feels that lesbian women should not need to shop at special stores, although she admits she often shops in the men’s department at Joseph A. Bank (JOSB). Her comments cause a precipitous drop in sales at both Joseph A. Bank (JOSB) and Clean Clothes. Using the above fact pattern, analyze the following questions fully.

1.
TCO F. Ellen DeGeneres sues Clean Clothes for the use of a look-alike model for the slacks advertisement. She includes Lanham Act, misappropriation, and “right of publicity” claims in her complaint. Clean Clothes countersues for product disparagement. Joseph A. Bank (JOSB) sues Ellen for impacting their men’s clothing sales with her unsolicited comment. What facts will Ellen use to support her cases, and why will those support her cases? What defenses will Ellen have against Clean Clothes’s and JOSB’s countersuits? Do you think any of the three will win their cases? Why or why not?
(Points : 30)

TCO G. It is discovered that 2 weeks before the Ellen show, she had sold $2 million in JOSB stock (at a gain of about $2,200). The morning after her show, Ellen sold JOSB short (which means she was betting the stock price would go down), and she made another $210,000 in the next week on that trade. The swing in the price was not directly tied to her comments but was suspected to be a result of a recall JOSB made on their entire line of men’s black and brown dress slacks when it was discovered that they had been sewn together with white thread. Ellen’s previous trading activity shows that she made it a normal practice to “vigorously trade” the stock of any company with which she did business. A review of her trading activity for the past year showed that she had bought and sold JOSB stock 25 different times, including short sales like this one. Her overall trading for JOSB stock for the last 12 months was a net loss of $82,000.00. Do you think the SEC will file anything against Ellen for her sales of JOSB? Is there any cause to do so? Analyze her transactions with respect to insider trading activity (based on what you know) and whether she should be concerned. Is her prior trading activity a defense? Should Ellen have avoided discussing JOSB publicly on her show because she typically trades their stock?

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MATH GM 533_Final_Exam_Complete Answer

MATH GM 533_Final_Exam_Complete Answer

MATH GM 533_Final_Exam_Complete Answer

MATH GM 533_Final_Exam_Complete Answer

MATH GM 533_Final_Exam_Complete Answer


1. (TCO A) Seventeen salespeople reported the following number of sales calls completed last month.

72 93 82 81 82 97 102 107 119
86 88 91 83 93 73 100 102

a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Max for the above sample data on number of sales calls per month.
b. In the context of this situation, interpret the Median, Q1, and Q3.

2. (TCO B) Cedar Home Furnishings has collected data on their customers in terms of whether they reside in an urban location or a suburban location, as well as rating the customers as either “good,” “borderline,” or “poor.” The data is below.
Urban Suburban Total
Good 60 168 228
Borderline 36 72 108
Poor 24 40 64
Total 120 280 400

If you choose a customer at random, then find the probability that the customer

a. is considered “borderline.”
b. is considered “good” and resides in an urban location.
c. is suburban, given that customer is considered “poor.”

3. (TCO B) Historically, 70% of your customers at Rodale Emporium pay for their purchases using credit cards. In a sample of 20 customers, find the probability that

a. exactly 14 customers will pay for their purchases using credit cards.
b. at least 10 customers will pay for their purchases using credit cards.
c. at most 12 customers will pay for their purchases using credit cards. (Points : 18)

4. (TCO B) The demand for gasoline at a local service station is normally distributed with a mean of 27,009 gallons per day and a standard deviation of 4,530 gallons per day.

a. Find the probability that the demand for gasoline exceeds 22,000 gallons for a given day.
b. Find the probability that the demand for gasoline falls between 20,000 and 23,000 gallons for a given day.
c. How many gallons of gasoline should be on hand at the beginning of each day so that we can meet the demand 90% of the time (i.e., the station stands a 10% chance of running out of gasoline for that day)?

5. (TCO C) An operations analyst from an airline company has been asked to develop a fairly accurate estimate of the mean refueling and baggage handling time at a foreign airport. A random sample of 36 refueling and baggage handling times yields the following results.

Sample Size = 36
Sample Mean = 24.2 minutes
Sample Standard Deviation = 4.2 minutes

a. Compute the 90% confidence interval for the population mean refueling and baggage time.
b. Interpret this interval.
c. How many refueling and baggage handling times should be sampled so that we may construct a 90% confidence interval with a sampling error of .5 minutes for the population mean refueling and baggage time?

6. (TCO C) The manufacturer of a certain brand of toothpaste claims that a high percentage of dentists recommend the use of their toothpaste. A random sample of 400 dentists results in 310 recommending their toothpaste.

a. Compute the 99% confidence interval for the population proportion of dentists who recommend the use of this toothpaste.
b. Interpret this confidence interval.
c. How large a sample size will need to be selected if we wish to have a 99% confidence interval that is accurate to within 3%?

7. (TCO D) A Ford Motor Company quality improvement team believes that its recently implemented defect reduction program has reduced the proportion of paint defects. Prior to the implementation of the program, the proportion of paint defects was .03 and had been stationary for the past 6 months. Ford selects a random sample of 2,000 cars built after the implementation of the defect reduction program. There were 45 cars with paint defects in that sample. Does the sample data provide evidence to conclude that the proportion of paint defects is now less than .03 (with = .01)? Use the hypothesis testing procedure outlined below.

a. Formulate the null and alternative hypotheses.
b. State the level of significance.
c. Find the critical value (or values), and clearly show the rejection and nonrejection regions.
d. Compute the test statistic.
e. Decide whether you can reject Ho and accept Ha or not.
f. Explain and interpret your conclusion in part e. What does this mean?
g. Determine the observed p-value for the hypothesis test and interpret this value. What does this mean?
h. Does the sample data provide evidence to conclude that the proportion of paint defects is now less than .03 (with = .01)?

8. (TCO D) A new car dealer calculates that the dealership must average more than 4.5% profit on sales of new cars. A random sample of 81 cars gives the following result.

Sample Size = 81
Sample Mean = 4.97%
Sample Standard Deviation = 1.8%

Does the sample data provide evidence to conclude that the dealership averages more than 4.5% profit on sales of new cars (using  = .10)? Use the hypothesis testing procedure outlined below.

a. Formulate the null and alternative hypotheses.
b. State the level of significance.
c. Find the critical value (or values), and clearly show the rejection and nonrejection regions.
d. Compute the test statistic.
e. Decide whether you can reject Ho and accept Ha or not.
f. Explain and interpret your conclusion in part e. What does this mean?
g. Determine the observed p-value for the hypothesis test and interpret this value. What does this mean?
h. Does the sample data provide evidence to conclude that the dealership averages more than 4.5% profit on sales of new cars (using  = .10)?

1. (TCO E) Bill McFarland is a real estate broker who specializes in selling farmland in a large western state. Because Bill advises many of his clients about pricing their land, he is interested in developing a pricing formula of some type. He feels he could increase his business significantly if he could accurately determine the value of a farmer’s land. A geologist tells Bill that the soil and rock characteristics in most of the area that Bill sells do not vary much. Thus the price of land should depend greatly on acreage. Bill selects a sample of 30 plots recently sold. The data is found below (in Minitab), where X=Acreage and Y=Price ($1,000s).

PRICE ACREAGE PREDICT
60 20.0 50
130 40.5 250
25 10.2
300 100.0
85 30.0
182 56.5
115 41.0
24 10.0
60 18.5
92 30.0
77 25.6
122 42.0
41 14.0
200 70.0
42 13.0
60 21.6
20 6.5
145 45.0
61 19.2
235 80.0
250 90.0
278 95.0
118 41.0
46 14.0
69 22.0
220 81.5
235 78.0
50 16.0
25 10.0
290 100.0

Correlations: PRICE, ACREAGE

Pearson correlation of PRICE and ACREAGE = 0.997
P-Value = 0.000

Regression Analysis: PRICE versus ACREAGE

The regression equation is
PRICE = 2.26 + 2.89 ACREAGE

Predictor Coef SE Coef T P
Constant 2.257 2.231 1.01 0.320
ACREAGE 2.89202 0.04353 66.44 0.000

S = 7.21461 R-Sq = 99.4% R-Sq(adj) = 99.3%

Analysis of Variance

Source DF SS MS F P
Regression 1 229757 229757 4414.11 0.000
Residual Error 28 1457 52
Total 29 231215

Predicted Values for New Observations

New Obs Fit SE Fit 95% CI 95% PI
1 146.86 1.37 (144.05, 149.66) (131.82, 161.90)
2 725.26 9.18 (706.46, 744.06) (701.35, 749.17)XX

XX denotes a point that is an extreme outlier in the predictors.

Values of Predictors for New Observations

New Obs ACREAGE
1 50
2 250

a. Analyze the above output to determine the regression equation.
b. Find and interpret in the context of this problem.
c. Find and interpret the coefficient of determination (r-squared).
d. Find and interpret coefficient of correlation.
e. Does the data provide significant evidence (= .05) that the acreage can be used to predict the price? Test the utility of this model using a two-tailed test. Find the observed p-value and interpret.
f. Find the 95% confidence interval for mean price of plots of farmland that are 50 acres. Interpret this interval.
g. Find the 95% prediction interval for the price of a single plot of farmland that is 50 acres. Interpret this interval.
h. What can we say about the price for a plot of farmland that is 250 acres?

1. (TCO E) An insurance firm wishes to study the relationship between driving experience (X1, in years), number of driving violations in the past three years (X2), and current monthly auto insurance premium (Y). A sample of 12 insured drivers is selected at random. The data is given below (in MINITAB):

Y X1 X2 Predict X1 Predict X2
74 5 2 8 1
38 14 0
50 6 1
63 10 3
97 4 6
55 8 2
57 11 3
43 16 1
99 3 5
46 9 1
35 19 0
60 13 3

Regression Analysis: Y versus X1, X2

The regression equation is
Y = 55.1 – 1.37 X1 + 8.05 X2

Predictor Coef SE Coef T P
Constant 55.138 7.309 7.54 0.000
X1 -1.3736 0.4885 -2.81 0.020
X2 8.053 1.307 6.16 0.000

S = 6.07296 R-Sq = 93.1% R-Sq(adj) = 91.6%

Analysis of Variance

Source DF SS MS F P
Regression 2 4490.3 2245.2 60.88 0.000
Residual Error 9 331.9 36.9
Total 11 4822.3

Predicted Values for New Observations

New Obs Fit SE Fit 95% CI 95% PI
1 52.20 2.91 (45.62, 58.79) (36.97, 67.44)

Values of Predictors for New Observations

New Obs X1 X2
1 8.00 1.00

Correlations: Y, X1, X2

Y X1
X1 -0.800
0.002

X2 0.933 -0.660
0.000 0.020

Cell Contents: Pearson correlation
P-Value

a. Analyze the above output to determine the multiple regression equation.
b. Find and interpret the multiple index of determination (R-Sq).
c. Perform the t-tests on and on (use two tailed test with (= .05). Interpret your results.
d. Predict the monthly premium for an individual having 8 years of driving experience and 1 driving violation during the past 3 years. Use both a point estimate and the appropriate interval estimate.

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