What should be the production volume for that quarter?
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3. The manager of a manufacturing company is trying to figure out how many products need to be produced for the coming quarter. Suppose the beginning inventory of the quarter is 500 units and the management predicts that the sales volume in the coming quarter would be 2400 units. The company also requires 1100 units ending inventory for the coming quarter. What should be the production volume for that quarter?
a. 2400
b. 3000
c. 3300
d. 3900
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- Rework the previous problem for a case in which the one-year warranty requires you to pay for the new device even if failure occurs during the warranty period. Specifically, if the device fails at time t, measured relative to the time it went into use, you must pay 300t for a new device. For example, if the device goes into use at the beginning of April and fails nine months later, at the beginning of January, you must pay 225. The reasoning is that you got 9/12 of the warranty period for use, so you should pay that fraction of the total cost for the next device. As before, how-ever, if the device fails outside the warranty period, you must pay the full 300 cost for a new device.You are considering a 10-year investment project. At present, the expected cash flow each year is 10,000. Suppose, however, that each years cash flow is normally distributed with mean equal to last years actual cash flow and standard deviation 1000. For example, suppose that the actual cash flow in year 1 is 12,000. Then year 2 cash flow is normal with mean 12,000 and standard deviation 1000. Also, at the end of year 1, your best guess is that each later years expected cash flow will be 12,000. a. Estimate the mean and standard deviation of the NPV of this project. Assume that cash flows are discounted at a rate of 10% per year. b. Now assume that the project has an abandonment option. At the end of each year you can abandon the project for the value given in the file P11_60.xlsx. For example, suppose that year 1 cash flow is 4000. Then at the end of year 1, you expect cash flow for each remaining year to be 4000. This has an NPV of less than 62,000, so you should abandon the project and collect 62,000 at the end of year 1. Estimate the mean and standard deviation of the project with the abandonment option. How much would you pay for the abandonment option? (Hint: You can abandon a project at most once. So in year 5, for example, you abandon only if the sum of future expected NPVs is less than the year 5 abandonment value and the project has not yet been abandoned. Also, once you abandon the project, the actual cash flows for future years are zero. So in this case the future cash flows after abandonment should be zero in your model.)Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
- Company X produces a product, GlueX3, that Company X sales for $5. An opportunity presents itself to reallocate its manufacturing facility and related resources to produce Epoxy10. It believes it can sell Epoxy10 for $8. Explain how this switch creates “value”. Be sure to include for whom.11. For most products, higher prices result in a decreased demand, whereas lower prices result in an increased demand (economists refer to such products as normal goods). Let d = annual demand for a product in units p = price per unit Assume that a firm accepts the following price-demand relationship as being a realistic representation of its market: d = 800 - 10p where p must be between $20 and $70. a. How many units can the firm sell at the $20 per-unit price? At the $70 per-unit price? b. What happens to annual units demanded for the product if the firm increases the per-unit price from $26 to $27? From $42 to $43? From $68 to $69? What is the suggested relationship between per-unit price and annual demand for the product in units? c. Show the mathematical model for the total revenue (TR), which is the annual demand multiplied by the unit price. d. Based on other considerations, the firm's management will only consider price alternatives of $30, $40, and $50. Use your model from…Which of the following statements is correct for the Black-Scholes model? A) The price of an American call written on a stock is: c = SN(d1)-Ke-rTN(d2) B) The stock price at a future point in time follows a log-normal distribution. C) The continuously compounded return on the stock follows a log-normal distribution. D) Black-Scholes prices may allow for arbitrage opportunities. Please explain and justify your choice.
- We all hate to bring small change to the store. Usingrandom numbers, we can eliminate the need for change andgive the store and the customer a fair shake.a Suppose you buy something that costs $.20. How could you use random numbers (built into the cash reg-ister system) to decide whether you should pay $1.00 or nothing? This eliminates the need for change!b If you bought something for $9.60, how would youuse random numbers to eliminate the need for change?c In the long run, why is this method fair to both thestore and the customer?1000 1000 900 900 800 800 700 700 600 8 600 * s00 500 400 400 300 200 300 200 100 100 200 400 600 800 1000 200 400 600 800 1000 Q= quantity Q= quantity Graph#1 Graph#2 Will there be a market surplus or market shortage when the price is $500? P price(True, False) Stagflation happens when the economy is experiencing a bust and deflation. Stagflation occurs when the (AD, SR-AS) curve shifts to the (right, left). In the short-run, this shift would cause the overall price level to (increase, decrease) and output to (increase, decrease). Workers may see the short-run effect on the overall price level and negotiate for (higher, lower) wages, resulting in a price-wage spiral. Given that 1) output has (increased, declined) in the short-run, there is a (negative, positive, zero) output gap and that there is a (negative, positive, zero) cyclical unemployment, workers will eventually (accept, fight for) (higher, lower) wages. When this happens, the (AD, SR-AS, LR-AS) curve will shift to the |(right, left), reaching the long-run equilibrium.
- Which of the following is NOT a determinant of the demand for good X?Newsvendor model : A retailer orders sunscreens from Sweden. The firm wants to make a single purchase. Unit cost (?)(v) is $12 and sales price (?)(r) is $24. Unsold sunscreens will be salvaged (?)(s) at $8 each at the end of the summer. The management estimates that there is no significant goodwill cost (?=0)(g=0) for lost sales. Find critical ratio (?)(R). 0.75 0.33 0.25 41. Once you have overdesigned your product, you need to do a ________ to match the needs and capabilities of your customers. 2. In 4-point bending, it has a higher probability that defects will exist due to a larger volume of a material subjected to a bending moment. True or false?