
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
expand_more
expand_more
format_list_bulleted
Question
- The state firefighters’ association has a membership of 15,000. The purpose of the organization is to provide some financial support to the families of deceased member firefighters and to organize a conference each year bringing together firefighters from all over the state. Annually, members are billed dues and calls. “Calls” are additional funds required to take care of payments made to the families of deceased members. The bookkeeping work for the association is handled by the elected treasurer, Bob Smith, although it is widely known that his wife, Laura, does all of the work. Bob runs unopposed each year at the election, since no one wants to take over the tedious and time consuming job of tracking memberships. Bob is paid a stipend of $8000 per year, but his wife spends well over 20 hours per week on the job. The organization, however, is not happy with their performance. A computer system is used to track the billing and receipt of funds. This system was developed in 1984 by a computer science student and his father. The sys- tem is a DOS-based system written in dBase 3. The most immediate problem facing the treasurer and his wife is the fact that the software package no longer exists, and there is no one around who knows how to maintain the system. One query in particular takes 17 hours to run. Over the years, they have just avoided running this query, although the information in it would be quite useful. Questions from member’s con- corning their statements cannot easily be answered. Usually, Bob or Laura just jots down the inquiry and returns a call with the answer. Sometimes it takes 3 to 5 hours to find the information needed to answer the question. Often, they have to perform calculations manually, since the system was not programmed to handle certain types of queries. When member information is entered into the system, each field is presented one at a time. This makes it very difficult to return to a field and correct a value that was entered. Sometimes a new member is entered, but disappears from the records. The report of membership used in the conference materials does not alphabetize members by city. Only cities are listed in the correct order.
- What requirements analysis technique or techniques would you recommend for this situation? Explain your answer.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 3 steps with 1 images

Knowledge Booster
Similar questions
- James works for Peter's Computer Repair, owned & operated by Peter. As a computer technician, James has grown accustomed to friends & family members asking for assistance with their personal computers. In an effort to increase his income, James started a personal computer repair business that he operates out of his home on a part-time basis, working evenings & weekends. Because James is doing this "on the side" for family & friends, he does not want to charge as much as Peter's charges its customers. When Peter assigned James the task of developing the budget for his department, James increased the amount budgeted for computer parts. When the budget was approved, James purchased as many parts as the budget allowed, even when they were not needed. He then took the extra parts home to use in his personal business in an effort to keep his cost down & profits up. So far, no one at Peter's has asked about the expense of the parts because James has not allowed the actual…arrow_forwardYou are a consultant who specializes in job candidate evaluation and employee selection. A moving company is seeking your advice about the appropriate selection measures to evaluate candidates for the position of driver/mover. When people are moving from one home to another, they contact the moving company to take care of relocating their belongings. The people responsible for the move are the driver/movers. Because driving a truck is an essential function of the job, applicants must not only be physically capable of driving, but must also have an impeccable driving record. Driving a truck is a dangerous safety hazard if the applicant is not a good driver. Also, the job description requires that applicants for a driver/mover position with the moving company must have the physical ability necessary to move heavy furniture safely and without damage. An applicant unable to perform this task would be a risk to the employer, as well as to the safety of co-workers, clients, and the…arrow_forwardScutaro Company reported net income in 2025 of $30, 000 and $27,000 in 2024. On January 1, 2024, Scutaro issued 10-year, $200,000 face value, 6% bonds at par (payable annually on January 1). Each $1,000 bond is convertible into 30 shares of Scutaro S2 par value common stock. The company has had 10,000 shares of common stock (and no preferred stock) outstanding throughout its life. None of the bonds have been converted as of the end of 2025. Scutaro also has adopted a stock option plan that granted options to key executives to purchase 4,000 shares of the company's common stock. The options were granted on January 2, 2024, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company (the service period is 2 years). The options expired 6 years from the date of grant. The option price was set at $4. INSTRUCTIONS Prepare the journal entry Scutaro would have made on January 1, 2024, to record the issuance of the bonds. Prepare the journal entry to…arrow_forward
- M-REITs, or mortgage REITs, primarily invest in real estate loans and mortgage-backed securities that are often below investment grade. When a mortgage REIT decided some years ago to re-securitize a substantial portion of its CMBS "BB" and "B" securities, it received surprisingly high investment grade ratings of "A" and "BBB" from Standard & Poor's on the new securities that were created from the cash flows of the underlying portfolio of non-investment grade rated securities. But when the financial markets began to fall a few months later, that mortgage REIT quickly went bankrupt and the value of its "A" and "BBB" investment grade rated re-securities fell substantially. The intended purpose of the ratings agencies is: To produce substantial profits for the rating agencies from the fees paid to them for giving higher ratings on investments than might otherwise be appropriate To help businesses and governments raise needed capital by providing them with the ratings they need to…arrow_forwardLu is 26 years old and single with a master's degree in education. he is paralyzed and confined to a wheel chair as a result of an auto accident. he earns $32,000 per year. instead of the tradition "one benefit package fits all," the company is allocating an additional 25 percent of each employee's annual pay to be used for discretionary benefits. those benefits and their annual cost are as follows: a) supplementary health care for employee: plan A (no deductible and pays 90 percent) =$3000, plan B ($200 deductible and pays 80 percent)=$2000, plan C ($1000 deductible and pays 70 percent)=$500, s supplementary health care for dependents (same deductibles and percentages as above): plan A=$2000, Plan B=$1500, plan C=$500, supplementary dental plan =$500, life insurance: plan A ($25000 coverage)=$500, plan B (50,000 coverage)= $1000, plan C(100,000 coverage) =$2000, plan D ($250000 coverage)= $3000 mental health plan =$500, prepaid legal assistance =$300, vacation =2 percent of annual pay…arrow_forwardForrester and Cohen is a small accounting firm managed by Joseph Cohen since the retirement in December of his partner, Brenda Forrester. Cohen and his 3 CPAs together bill 640 hours per month. When Cohen or another accountant bills more than 160 hours per month, he or she gets an additional "overtime" pay of $62.50 for each of the extra hours. This is above and beyond the $5,000 salary each draws during the month. (Cohen draws the same base pay as his employees.) Cohen strongly discourages any CPA from working (billing) more than 250 hours in any given month. The demand for billable hours for the firm over the next 6 months is estimated below. Month Jan. Feb. Mar Apr. Estimate of Billable Hours 600 490 1,010 1,220 660 570 O May June Cohen has an agreement with Forrester, his former partner, to help out during the busy tax season, up to 250 hours in any given month if needed, for an hourly fee of $120. Cohen will not even consider laying off one of his colleagues in the case of a slow…arrow_forward
- The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the following sequence: Jones, the managing partner, receives a bonus equal to 25 percent of the business's profit. Each partner receives 19 percent interest on average capital investment. Any residual profit or loss is divided equally. The average capital investments for 2021 were as follows: Jones $ 125,000 King 250,000 Lane 375,000 The partnership earned $58, 000 net income for 2021. Prepare a schedule showing how the 2021 net income should be allocated to the partners. (Loss amounts should be indicated with a minus sign.)arrow_forwardThe Free Cash Flow model has the following advantage over the Dividend Growth model: In the case of variable growth, it does not require the calculation of any horizon value. It can be applied even if growth rates are unknown. It can be applied to companies with variable growth in the initial years that eventually settle down to a fixed rate of growth for the long term. It can be applied to divisions of companies. O It does not require any forecasting.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Operations ManagementOperations ManagementISBN:9781259667473Author:William J StevensonPublisher:McGraw-Hill EducationOperations and Supply Chain Management (Mcgraw-hi...Operations ManagementISBN:9781259666100Author:F. Robert Jacobs, Richard B ChasePublisher:McGraw-Hill Education
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage LearningProduction and Operations Analysis, Seventh Editi...Operations ManagementISBN:9781478623069Author:Steven Nahmias, Tava Lennon OlsenPublisher:Waveland Press, Inc.

Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,

Operations Management
Operations Management
ISBN:9781259667473
Author:William J Stevenson
Publisher:McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi...
Operations Management
ISBN:9781259666100
Author:F. Robert Jacobs, Richard B Chase
Publisher:McGraw-Hill Education


Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning

Production and Operations Analysis, Seventh Editi...
Operations Management
ISBN:9781478623069
Author:Steven Nahmias, Tava Lennon Olsen
Publisher:Waveland Press, Inc.