Delivery charges. Refer to Problem 73. Federated Shipping, a competing overnight delivery service, informs the customer in Problem 73 that they would ship the 5 -pound package for $29 .95 and the 20 -pound package for $59 .20 . (A) If Federated Shipping computes its cost in the same manner as United Express, find the base price and the surcharge for Federated Shipping. (B) Devise a simple rule that the customer can use to choose the cheaper of the two services for each package shipped. Justify your answer.
Delivery charges. Refer to Problem 73. Federated Shipping, a competing overnight delivery service, informs the customer in Problem 73 that they would ship the 5 -pound package for $29 .95 and the 20 -pound package for $59 .20 . (A) If Federated Shipping computes its cost in the same manner as United Express, find the base price and the surcharge for Federated Shipping. (B) Devise a simple rule that the customer can use to choose the cheaper of the two services for each package shipped. Justify your answer.
Solution Summary: The author calculates the base price and the surcharge for Federated shipping service.
Delivery charges. Refer to Problem 73. Federated Shipping, a competing overnight delivery service, informs the customer in Problem 73 that they would ship the
5
-pound package for
$29
.95
and the
20
-pound package for
$59
.20
.
(A) If Federated Shipping computes its cost in the same manner as United Express, find the base price and the surcharge for Federated Shipping.
(B) Devise a simple rule that the customer can use to choose the cheaper of the two services for each package shipped. Justify your answer.
17) The Musical Instrument Store estimates costs of $18,750.00 annually to carry inventory of
musical instruments and accessories. The costs include 12% for storage, 12% for interest, and
5% for transportation. What is the value of the inventory?
5. Calculate your after tax monthly income on problem
# 2 above, if you pay 18% federal income tax, 6%
social security, and 1% medicare.
6. Calculate your after tax monthly income on problem
#3 above, if you pay 20% federal income tax, 6%
social security, and 1% medicare.
7. Calculate your monthly take home income for
problem #4 above, if you pay $50 a month for health
insurance and $20 a month toward retirement.
8. Calculate your monthly take home income for
problem #5 above, if you pay $75 a month for health
insurance and $40 a month toward retirement.
9. Calculate your monthly take home income for
problem #6 above, if you pay $100 a month for health
insurance and $50 a month toward retirement.
10. What was the best thing you did over spring break,
and did anything funny happen over spring break?
A Cake company uses 4,629 quart bottles of Chocolate sauce each year. The sauce costs 5 per bottle
and is served only in full bottles for food safety purposes. The company's inventory manager
calculated that each time an order is placed, it costs 13 and holding costs are 20 percent of the
purchase price. Once the order is placed, it takes 3 weeks for an order to arrive. The company works
for 47 weeks per year. The company is considering to use the inventory system techniques which
minimizes the inventory cost.
Assume that both, lead time and customer demand are variable. Customer demand's standard
deviation 27 units per week and standard deviation for lead time = 1. Find out the safety stock
needed to achieve 95% customer service level.
=
Chapter 4 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
A Survey of Mathematics with Applications (10th Edition) - Standalone book
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY