Strayer Mat540 week 1 assignment and discussion

| July 29, 2018

Click the link above to submit your homework.Complete the following problems from Chapter 1:Problems 2, 4, 12, 14, 20, 22Complete the following problems from Chapter 11:Problems 18, 20, 26, 28, 30Discussion wk 1

“Class Introductions” Please respond to the
following:

Please introduce yourself. List three things they know and three
things they want to know about the content in the course. I can collect this
information and use it throughout the course.

Homework Problems

MAT540
Week 1 Homework
Chapter 1
2. The Retread
Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000.The
variable cost of recapping a tire is $9.The company charges $25 to recap a
tire.
a. For an annual volume of 12,000 tires, determine the
total cost, total revenue, and profit.
b. Determine the annual break-even volume for the Retread
Tire Company operation.
4. Evergreen
Fertilizer Company produces fertilizer. The company’s fixed monthly cost is
$25,000, and its variable cost per pound of fertilizer is $0.15. Evergreen
sells the fertilizer for $0.40 per pound. Determine the monthly break-even
volume for the company.
12. If
Evergreen Fertilizer Company in Problem 4 changes the price of its fertilizer
from $0.40 per pound to $0.60 per pound, what effect will the change have on
the break-even volume?
14. If
Evergreen Fertilizer Company increases its advertising expenditures by $14,000
per year, what effect will the increase have on the break-even volume computed
in Problem 13?
Reference Problem 13: If Evergreen
Fertilizer Company changes its production process to add a weed killer to the
fertilizer in order to increase sales, the variable cost per pound will
increase from $0.15 to $0.22. What effect will this change have on the
break-even volume computed in Problem 12?
20. Annie
McCoy, a student at Tech, plans to open a hot dog stand inside Tech’s football
stadium during home games. There are seven home games scheduled for the
upcoming season. She must pay the Tech athletic department a vendor’s fee of
$3,000 for the season. Her stand and other equipment will cost her $4,500 for
the season. She estimates that each hot dog she sells will cost her $0.35. She
has talked to friends at other universities who sell hot dogs at games. Based
on their information and the athletic department’s forecast that each game will
sell out, she anticipates that she will sell approximately 2,000 hot dogs
during each game.
a. What price should she
charge for a hot dog in order to break even?
b. What factors might occur
during the season that would alter the volume sold and thus the break-even
price Annie might charge?
22. The College of Business at Tech is planning to begin
an online MBA program. The initial start-up cost for computing equipment,
facilities, course development, and staff recruitment and development is
$350,000.The college plans to charge tuition of $18,000 per student per year. However,
the university administration will charge the college $12,000 per student for
the first 100 students enrolled each year for administrative costs and its
share of the tuition payments.
a. How many students does
the college need to enroll in the first year to break even?
b. If the college can enroll
75 students the first year, how much profit will it make?
c. The college believes it
can increase tuition to $24,000, but doing so would reduce enrollment to 35. Should the college consider doing this?
Chapter 11
18. The following
probabilities for grades in management science have been determined based on
past records:

Grade

Probability

A

0.10

B

0.30

C

0.40

D

0.10

F

0.10

1.00

The grades are assigned on a
4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the expected
grade and variance for the course.
20. An
investment firm is considering two alternative investments, A and B, under two
possible future sets of economic conditions, good and poor. There is a .60
probability of good economic conditions occurring and a .40 probability of poor
economic conditions occurring. The expected gains and losses under each
economic type of conditions are shown in the following table:

Economic
Conditions

Investment

Good

Poor

A

$900,000

-$800,000

B

120,000

70,000

Using the expected value of
each investment alternative, determine which should be selected.
26. The weight
of bags of fertilizer is normally distributed, with a mean of 50 pounds and a
standard deviation of 6 pounds. What is the probability that a bag of
fertilizer will weigh between 45 and 55 pounds?
28. The Polo
Development Firm is building a shopping center. It has informed renters that
their rental spaces will be ready for occupancy in 19 months. If the expected time until the shopping
center is completed is estimated to be 14 months, with a standard deviation of
4 months, what is the probability that the renters will not be able to occupy
in 19 months?
30. The
manager of the local National Video Store sells videocassette recorders at
discount prices. If the store does not have a video recorder in stock when a
customer wants to buy one, it will lose the sale because the customer will
purchase a recorder from one of the many local competitors. The problem is that
the cost of renting warehouse space to keep enough recorders in inventory to
meet all demand is excessively high. The manager has determined that if 90% of
customer demand for recorders can be met, then the combined cost of lost sales
and inventory will be minimized. The manager has estimated that monthly demand
for recorders is normally distributed, with a mean of 180 recorders and a
standard deviation of 60. Determine the number of recorders the manager should
order each month to meet 90% of customer demand.

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