W01 Syllabus Quiz_ Econ Principles & Prob Micro-MM
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Economics
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May 5, 2024
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W01 Syllabus Quiz
Due Apr 27 at 11:59pm
Points 4
Questions 8
Available until May 4 at 11:59pm
Time Limit None
Allowed Attempts Unlimited
Instructions
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60 minutes
4 out of 4
Score for this attempt: 4 out of 4
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Preparation
Study the Syllabus
(https://byui.instructure.com/courses/290142/assignments/syllabus) then take this
short quiz about course expectations.
Conditions
This is an open-book quiz that you will complete by yourself. Do not get help from classmates or
other people.
The quiz is not timed.
You have unlimited attempts to take the quiz before the due date.
Take the Quiz Again
In this class, everyone should be guided at all times by the following principles of personal honor.
Principles of Personal Honor: "True at all Times"
Personal honor is integrity in fulfilling commitments, responsibilities, and covenants.
Personal honor begins with willing obedience and is fully developed when we consistently govern
ourselves by true principles.
Personal honor increases spiritual strength through the ministry of the Holy Ghost.
Personal honor is central to every aspect of our lives, including the BYU-Idaho experience.
3/5/24, 23:34
W01 Syllabus Quiz: Econ Principles & Prob Micro
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True
False
Question 2
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1-3
4-7
5-8
Correct!
9-12
Question 3
0.5 / 0.5 pts
Correct!
True
False
Question 4
0.5 / 0.5 pts
Correct!
True
False
Question 5
0.5 / 0.5 pts
True
Correct!
Personal honor brings us joy and happiness; deepens our desire to love, serve, and lift others;
and ultimately helps us to become more like the Savior.
I have read the above principles of personal honor, and I understand that it is important for me to
strive to follow the above principles in my association with others in this class.
How many hours each week should you plan to spend working on this class? Each of the three exams are closed-notes and must be taken using an online proctored software
program.
I acknowledge that I have read and understand the syllabus and all assignment and exam due dates.
If I have questions about the syllabus or due dates, I will ask my instructor prior to Week 02.
McGraw-Hill Connect is optional software.
3/5/24, 23:34
W01 Syllabus Quiz: Econ Principles & Prob Micro
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Related Questions
The Pear company produces and sells pPhones. Their
production costs are $290000 plus $180 for each pPhone
they produce, but they can sell the pPhones for $250
each. How many pPhones should the Pear company
produce and sell in order to break even?
The break-even number of pPhones is
Preview
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Note: Do not use MATLAB or any other applications.
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General Motors Corporation in their Detroit plant, makes industrial strength eight-cylinder engines that are
used in their heavy duty automobiles Operations manager at Detroit plant has developed the following
supply, demand, cost, and inventory data for future planning purposes.
Supply Available
Regular
Time
Demand
Forecast
Period
Overtime
Subcontract
1
40
15
10
40
2
30
15
10
55
3
30
20
10
50
20 units
$100
Initial inventory
Regular-time cost per unit
Overtime cost per unit
Subcontract cost per unit
$160
$200
Carrying cost per unit per month
$6
Assuming the initial inventory has no holding cost in the first period and that backorders are not permitted.
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Economics
URGENT PLEASE**
As a PMO officer, you are asked to do an evaluation for a natural gas pipeline right in the middle of the project’s planned schedule. There are concerns that it will go over budget and schedule because 40 million dollars has been spent in the project so far. According to the project charter, the pipeline length is 72 km and must be completed in 6 months, with a budget of 57.6 million AUD. You performed an inspection and find out that installation of 30 km of pipeline has been completed.
Using earned value analysis, answer the following questions:
A ) Calculate the Schedule performance index (SPI) and the cost performance index (CPI) at the time of inspection. What do they mean? [
B) According to your analysis, how much is the project going to be over budget? (Calculate the estimate to completion (ETC).)
C) As a key part in your report to the management, what is your advice for cutting the expenditure in the rest of the project, in order to finish the…
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URGENT PLEASE**
As a PMO officer, you are asked to do an evaluation for a natural gas pipeline right in the middle of the project’s planned schedule. There are concerns that it will go over budget and schedule because 40 million dollars has been spent in the project so far. According to the project charter, the pipeline length is 72 km and must be completed in 6 months, with a budget of 57.6 million AUD. You performed an inspection and find out that installation of 30 km of pipeline has been completed.
Using earned value analysis, answer the following questions:
A) What is the earned value (EV) for this project at the time of inspection (month 3)?
B) What is the planned value (PV) for this project at the time of inspection?
C) Calculate the Schedule variance (SV) and the cost variance (CV) at month 4. What do they mean?
D) Calculate the Schedule performance index (SPI) and the cost performance index (CPI) at the time of inspection. What do they mean? [
E) According to your…
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Given Problem:
A manufacturing plant wishes to buy a new equipment so the purchasing department did some research on different types of this equipment. In the monthly meeting, the purchasing department presented a report about the two types of equipment that they have found. Pertinent data are as follows:
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A manufacturing plant wishes to buy a new equipment so the purchasing department did some research on
different types of this equipment. In the monthly meeting, the purchasing department presented a report
about the two types of equipment that they have found. Pertinent data are as follows:
Туре А
Туре В
First cost
P250,000
P350,000
Annual operating cost
30,000
22,000
Annual labor cost
52,000
34,000
Insurance and property taxes
3%
3%
Labor/Payroll taxes
4%
4%
Estimated life
10
10
If the minimum required rate of return is 19%,
1. What is the annual worth of Type A? [ Select ]
2. What is the annual worth of Type B? [ Select ]
3. Which machine should be selected? [ Select ]
>
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S LO
20
# 3
PRICE (Dollars per hot dog)
5.
History Bookmarks People Tab
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* CENGAGE MINDTAP
Q Search this course
Homework (Ch 15)
5. Monopoly outcome versus competition outcome
Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the
city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power.
The following graph shows the demand (D) and supply (S = MC) curves in the market for hot dogs.
%3D
Place the black point (plus symbol) on the graph to indicate the market price and quantity that will result from competition.
Competitive Market
+.
4.5
PC Outcome
3.5
3.0
2.5
S=MC
1.5
0.5
D.
120
140
160 180
09
QUANTITY (Hot dogs)
40
PI
MacBook Air
DA
DD
F8
F6
F5
F4
F2
%24
6.
7.
8.
9-
4.
2.
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Question 4
XYZ Company manufactures and sells plates. Present sales output is 4,000,000 units
per year at a selling price of $.70 per unit. Fixed costs are $800,000 per year.
Variable costs are $.35 per unit.
What is the Contribution Margin for a year?
$1,400,000
$800,0000
1,600,000
$400,000
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The ore of a gold mine in the province contains, on average, 0.5 ounce of gold per ton. Method A ofprocessing costs 150Php/ton and recovers 93% of the gold, while Method B costs only 120Php/tonand recovers 81% of the gold. If gold can be sold at 1,200/ounce, which method is better and by howmuch?a. Method A, by 43Phpb. Method A, by 42Phpc. Method B, by 42Phpd. Method B, by 43Php
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100
90
80
ATC
70
50
30
AVC
20
MC
10
+
0
0
5
10
15
20
25
30
35
40
45
50
QUANTITY (Thousands of pans)
PRICE (Dollars per pan)
40
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E2
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The following table lists the components needed to assemble an end item, lead times (in weeks), and quantities on hand.
Item
Lead Time
Amounton Hand
Direct Components
End
1
0
L(2), C(1), K(3)
L
2
10
B(2), J(3)
C
3
15
G(2), B(2)
K
3
20
H(4), B(2)
B
2
30
J
3
30
G
3
5
H
2
0
Click here for the Excel Data File
a. If 43 units of the end item are to be assembled, how many additional units of B are needed? (Hint: You don’t need to develop an MRP plan.)
b. An order for the end item is scheduled to be shipped at the start of week 8. What is the latest week that the order can be started and still be ready to ship on time? (Hint: You don’t need to develop an MRP plan.)
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Problem 3-18 (Algo)
New car sales for a dealer in Cook County, Illinois, for the past year are shown in the following table, along with monthly indexes
(seasonal relatives), which are supplied to the dealer by the regional distributor.
Units
Units
Sold
767
787
817
817
Month
Sold
Index
0.70
0.80
Month
Index
0.90
1.10
1.20
Jan.
643
Jul.
Aug.
Sept.
Feb.
653
Mar.
638
0.60
Apr.
May
Jun.
738
0.94
Oct.
1.20
743
843
0.89
Nov.
827
1.20
1.00
Dec.
787
1.25
Click here for the Excel Data File
b. Deseasonalize car sales. (Round your answers to the nearest whole number.)
Month
Deseasonalized
Month
Deseasonalized
Jan.
Jul.
Feb.
Aug.
Mar.
Sep
Apr.
Oc.
May
Jun.
Nov.
Dec.
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سطكب
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Price/cost
MC
$52
АТС
$40
$30
$28
$20
D
$14
MR
100
130 140 160
Its total revenue will be $
Its total cost will be $
It will make a profit/loss/break even (circle one) of $
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Cell (D) stands for the average total cost of 20 units, Its value should be ___:A) 480.48B) 343.20C) 171.60D) 617.76E) 1954.24F) 59.78
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PLS HELP ASAP ON BOTH
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ENGINEERING ECONOMY
RATE WILL BE GIVEN. WRITE THE COMPLETE SOLUTIONS/EXPLANATION LEGIBLY OR TYPEWRITTEN. GIVE STRAIGHT TO THE POINT EXPLANATION.
You have been taking a course on game theory at university. After attending 10 of 15 hours of classes, you realize that you don’t enjoy the subject and are likely to do poorly in the final exam. At this point, you could stop attending these classes and give up on the course. However, you decide that since you have already spent so much time going to class, it would be costly to stop attending them. Is this reasoning correct?
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Typed plzxxxxx
Asap
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Only typed solution
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Phase
Requirements Planning
Design
Prototype Development
Final Development
Test
Average
Time (hours)
80
160
320
640
120
Standard
Deviation
15
25
70
100
20
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Figure 1 shows the lifecycle cost chart which is a summation of all the costs related to a product, structure, system, or service during its life span. Where do the highest chances for cost reduction happen?
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Hand written solutions are strictly prohibited.
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Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models:
MODEL
AVERAGEQUANTITYSOLD (UNITS/MONTH)
CURRENTPRICE
TOTALREVENUE
VARIABLECOST PERUNIT
CONTRIBUTIONMARGIN PERUNIT
CONTRIBUTIONMARGIN*
A
B
C
Total
15,000
5,000
10,000
$30
35
45
$450,000
175,000
450,000
$1,075,000
$15.00
18.00
20.00
$15
17
25
$225,000
85,000
250,000
$560,000
*Contribution to fixed costs and profits.The company is considering lowering the price of Model A to $27 in an effort to increase the number of units sold. Based on the results of price changes that have been instituted in the past, Tennis Products’ chief economist estimates the arc price elasticity of demand to be –2.5. Furthermore, she estimates the arc cross elasticity of demand between Model A and Model B to be approximately 0.5 and between Model A and Model C to be approximately 0.2. Variable costs…
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Please provide 0007 a step by step solution
Engineering Economics
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12:40
Expert Q&A
Done
A mail carier at the U.S Postal Service works on
Sunday delivering high priority letters and
packages . She can deliver 20 items per hour.
The fixed hourly cost equal 38$ and the hourly
variable cost total 0.60$ per item delivered.
How much is the US Postal Service charge for
each item delivered in order to break even on
Sunday deliveries
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- The Pear company produces and sells pPhones. Their production costs are $290000 plus $180 for each pPhone they produce, but they can sell the pPhones for $250 each. How many pPhones should the Pear company produce and sell in order to break even? The break-even number of pPhones is Previewarrow_forwardNote: Do not use MATLAB or any other applications.arrow_forwardGeneral Motors Corporation in their Detroit plant, makes industrial strength eight-cylinder engines that are used in their heavy duty automobiles Operations manager at Detroit plant has developed the following supply, demand, cost, and inventory data for future planning purposes. Supply Available Regular Time Demand Forecast Period Overtime Subcontract 1 40 15 10 40 2 30 15 10 55 3 30 20 10 50 20 units $100 Initial inventory Regular-time cost per unit Overtime cost per unit Subcontract cost per unit $160 $200 Carrying cost per unit per month $6 Assuming the initial inventory has no holding cost in the first period and that backorders are not permitted.arrow_forward
- Economics URGENT PLEASE** As a PMO officer, you are asked to do an evaluation for a natural gas pipeline right in the middle of the project’s planned schedule. There are concerns that it will go over budget and schedule because 40 million dollars has been spent in the project so far. According to the project charter, the pipeline length is 72 km and must be completed in 6 months, with a budget of 57.6 million AUD. You performed an inspection and find out that installation of 30 km of pipeline has been completed. Using earned value analysis, answer the following questions: A ) Calculate the Schedule performance index (SPI) and the cost performance index (CPI) at the time of inspection. What do they mean? [ B) According to your analysis, how much is the project going to be over budget? (Calculate the estimate to completion (ETC).) C) As a key part in your report to the management, what is your advice for cutting the expenditure in the rest of the project, in order to finish the…arrow_forwardEconomics URGENT PLEASE** As a PMO officer, you are asked to do an evaluation for a natural gas pipeline right in the middle of the project’s planned schedule. There are concerns that it will go over budget and schedule because 40 million dollars has been spent in the project so far. According to the project charter, the pipeline length is 72 km and must be completed in 6 months, with a budget of 57.6 million AUD. You performed an inspection and find out that installation of 30 km of pipeline has been completed. Using earned value analysis, answer the following questions: A) What is the earned value (EV) for this project at the time of inspection (month 3)? B) What is the planned value (PV) for this project at the time of inspection? C) Calculate the Schedule variance (SV) and the cost variance (CV) at month 4. What do they mean? D) Calculate the Schedule performance index (SPI) and the cost performance index (CPI) at the time of inspection. What do they mean? [ E) According to your…arrow_forwardGiven Problem: A manufacturing plant wishes to buy a new equipment so the purchasing department did some research on different types of this equipment. In the monthly meeting, the purchasing department presented a report about the two types of equipment that they have found. Pertinent data are as follows:arrow_forward
- A manufacturing plant wishes to buy a new equipment so the purchasing department did some research on different types of this equipment. In the monthly meeting, the purchasing department presented a report about the two types of equipment that they have found. Pertinent data are as follows: Туре А Туре В First cost P250,000 P350,000 Annual operating cost 30,000 22,000 Annual labor cost 52,000 34,000 Insurance and property taxes 3% 3% Labor/Payroll taxes 4% 4% Estimated life 10 10 If the minimum required rate of return is 19%, 1. What is the annual worth of Type A? [ Select ] 2. What is the annual worth of Type B? [ Select ] 3. Which machine should be selected? [ Select ] >arrow_forwardS LO 20 # 3 PRICE (Dollars per hot dog) 5. History Bookmarks People Tab Window Help 令) 71% Mind Tap - Cengage Learning /index.html?deploymentld%359828119415547787292595253&elSBN=9780357133606&id%3D1069413986&snapshotid%-D2211990& * CENGAGE MINDTAP Q Search this course Homework (Ch 15) 5. Monopoly outcome versus competition outcome Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power. The following graph shows the demand (D) and supply (S = MC) curves in the market for hot dogs. %3D Place the black point (plus symbol) on the graph to indicate the market price and quantity that will result from competition. Competitive Market +. 4.5 PC Outcome 3.5 3.0 2.5 S=MC 1.5 0.5 D. 120 140 160 180 09 QUANTITY (Hot dogs) 40 PI MacBook Air DA DD F8 F6 F5 F4 F2 %24 6. 7. 8. 9- 4. 2.arrow_forwardQuestion 4 XYZ Company manufactures and sells plates. Present sales output is 4,000,000 units per year at a selling price of $.70 per unit. Fixed costs are $800,000 per year. Variable costs are $.35 per unit. What is the Contribution Margin for a year? $1,400,000 $800,0000 1,600,000 $400,000arrow_forward
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