1. Create a risk profile for a particular area of interest. 2. Choose a commodity for which you want to create a risk profile. 3. List five possible risks that could have an impact on the commodity's production capacity.
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- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?Macomb Inc. used Excel to run a least-squares regression analysis on the production cost data resulting in the following output: Regression StatisticsMultiple R 0.9834 R Square 0.9596 Observations 30 Coefficients Standard Error T Stat P-ValueIntercept 174,980 61,580 2.84 0.021 Production units (X) 11.53 0.9265 12.44 0.000 What total cost would Macomb predict for a month in which production is 2,000 units? Multiple Choice $174,900 $63,433 $198,040 $23,037
- Clippers Inc. (CI) manufactures two types of garden clippers. A light-duty model, called the “half-inch,”is intended for clipping branches and stems up to one-half inch thick. The “one-inch” model is designedfor heavier stems and branches. To boost sales, CI decided at the beginning of the current year to reducethe price of the half-inch model to better position its price relative to some key competitors. On the otherhand, CI felt that the one-inch model was technically superior to competitors’ models and decided that asmall price increase was appropriate. The data for the current and prior year are as follows:Current Year Prior YearSales units 7,200 6,500Sales mix for each productHalf-inch model 50% 30%One-inch model 50% 70%PriceHalf-inch model $12.00 $14.00One-inch model $36.00 $32.00Variable cost per unitHalf-inch model $6.00 $6.00One-inch model $8.00 $8.00Fixed cost $35,000 $35,000Required1. Prepare a comparative contribution income statement for CI for the current year that shows…Movieflix, an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021Membership (000s) 17 16 16 21 20 20 23 25 24 1. Forecast 2023 membership.Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is:y = 850 − .1xwherey = Insurance needed ($000)x = Current age of head of household a. Plot the relationship on a graph. b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 30 years old.
- An operational risk analyst is using the POT methodology to estimate VaR. Parameters are provided in the following tables: Loss threshold (%) μ. = 2 Number of observations N = 1000 Observations in excess of the threshold n = 9 Scale parameter β = 0.85 Shape parameter (tail index) = 0.3 - Calculate VaR at the 99% confidence level.Refer to Problems 1 and 2. Construct a graph that will enable you to perform sensitivity analysis on the problem. Over what range of P(high) would the alternative of doing nothing be best? Expand? Subcontract?1.) Use the following dummy variables to develop an estimated regression equation to account for seasonal effects only in the data. Qtr1 = 1 if Quarter 1, 0otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise, Qtr3 = 1 if Quarter 3, 0otherwise. Based only on the seasonal effects in the data, compute estimates of quarterly sales for year 6.a. Report the estimate of sales for Year 6 Quarter 1. (Enter a whole value.)b. Report the estimate of sales for Year 6 Quarter 4. (Enter a whole value.)2.) Let Period t = 1 refer to the observation in quarter 1 of year 1; Period t = 2refer to the observation in quarter 2 or year 1; … and Period t = 20 refer to the observation in quarter 4 of year 5. Using the dummy variables defined in part (b) and Period (t), develop an estimated regression equation to account for seasonal effects and any linear trend in the time series. Based upon the seasonal effects in the data and linear trend, compute the estimates of quarterly sales for year 6.a. Report the estimate…
- Cost Estimation; High-Low and Regression Methods The Mac Davis Company specializesin the purchase, renovation, and resale of older homes. Mac employs several carpenters and paintersto do the work for him. It is essential for him to have accurate cost estimates so he can determinetotal renovation costs before he purchases a piece of property. If estimated renovation costs plus thepurchase price of a house are higher than the house’s estimated resale value, it is not a worthwhileinvestment.Mac has been using the home’s interior square feet for his exterior paint cost estimations. Recentlyhe decided to include the number of external openings—the total number of doors and windows ina house—as a cost driver. Their cost is significant because they require time-consuming preparatorywork and careful brushwork. The rest of the house usually is painted either by rollers or spray guns,which are relatively efficient ways to apply paint to a large area. Mac has kept careful records of theseexterior…Facts: A Chicago area manufacturing company (“JKL”) has 2 unrelated owners. The CPA firm (“Flexible”) for the manufacturing company prepares annual compiled financial statements and corporate tax returns (1120S). In addition, Flexible prepares the personal income tax returns for one of the owners – a different tax accountant prepares the personal income tax returns for the other owner. The Company has a December 31st year end. Toward the end of February each year, there is an annual meeting in the western suburbs, with the following in attendance: the 2 owners of JKL, Flexible’s CPA Partner, the tax accountant for the other owner, and pension consultants. In anticipation of the meeting, Flexible prepares and distributes draft financial statements, and a year to date General Ledger; everything is complete except the amount of any pension accrual and the final amount of inventory. The purposes of the meeting are to determine: the pension accrual the desired taxable income for the…Camille forecasts to sell 575 units of the perfume she is selling by the first week of December. At the end of the 1st week of December, she was able to disposed 500 perfumes at Php150 each. Of these 500 units, she gave a total of 20 giveaways. The total cost for each perfume is Php120. Determine Camille’s net sales volume. *4802075500 Let’s say that last November you have sold 10,000 pieces of chrysanthemum at 25 pesos each. For every piece sold, you will be given a commission of 10%. How much was your total commission? *225,00025,00010,0002.50250,000