3-16. A firm has recently added a new product to their offerings. Manufacturing reports that production is going smoothly and factory workers are becoming familiar with the manufacture of this product. All expectations are that the current rate of learning will continue and the manufacture of future units will be more efficient (i.e., take less time). The following table shows the results for the first two units produced. (3.4.2)
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- Bell Greenhouses has estimated its monthly demand for potting soil to be the following:N = 400 + 4Xwhere N = monthly demand for bags of potting soilX = time periods in months (March 2006 = 0)Assume this trend factor is expected to remain stable in the foreseeable future. The following table contains the monthly seasonal adjustment factors, which have been estimated using actual sales data from the past five years:MONTH ADJUSTMENT FACTOR (%)March +2June +15August +10December −12a. Forecast Bell Greenhouses’ demand for potting soil in March, June, August, and December 2007.b. If the following table shows the forecasted and actual potting soil sales by Bell Greenhouses for April in five different years, determine the seasonal adjustment factor to be used in making an April 2008 forecast.YEAR FORECAST ACTUAL 2007 500 515 2006 452…A study by the New York Federal Reserve Bank concludes that an engineering bachelor’s degree generates approximately a 15% return on investment over the course of a decade. Suppose the typical engineering student spends $15,000 per year for four years on his/her education. What extra annual return (in dollars) does the typical student realize during the 10 years following graduation? State your assumptions.Rob is considering a new marketing campaign to promote his new widgets. He currently buys his widgets for $40 and sells them for $100. His most recent sales for 2022 were 50,000 widgets. I he campaign is expensive and advertising and other costs of promotion will be $500,000; however, he believes the campaign will increase sales by 10% over his 2022 sales. Rob wonders if this campaign is a good investment and wants to calculate the return on his $500,000 marketing campaign. Using the space below, demonstrate how an ROl calculation could help Rob make the best decision.
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- Biovac is a bio-pharmaceutical company based in Cape Town, that is the result of apartnership formed with the South African government in 2003 to establish local vaccinemanufacturing capability for the provision of vaccines for national health management andsecurity. On the 21st of July 2021, Biovac and Pfizer announced that the Pfizer COVID-19vaccine will be produced in Cape Town by the Biovac Institute. Biovac has to now decide onthe production of the Pfizer vaccine and all other vaccines, on a graph illustrate and explain theopportunity cost of producing the Pfizer Covid-19 vaccine.Your firm has discovered a cheap and efficient technology of turning used plasticbottles and bags into various products. You limit your attention to the following twoproduction opportunities: you can produce plastic utensils or helmets forBoilermakers' fans. In the first case your estimated annual revenue is K25,000, whilethe production will cost you K8,000. However, in your second option, you expect tosell 2000 helmets every year at K10 each, and the average total cost of every helmetwill be K2.a. Which production opportunity will you choose and why? b. If you do so, what will be your economic profit if your answer is lower explain technically why it is so?Metropolitan Hospital has estimated its average monthly bed needs asN = 1;000 + 9Xwhere X = time period (months); January 2002 = 0N = monthly bed needsAssume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years:MONTH ADJUSTMENT FACTOR (%)January +5April −15July +4November −5December −25a. Forecast Metropolitan’s bed demand for January, April, July, November, and December 2007.b. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?YEAR FORECAST ACTUAL2007 1,045 1,0962006 937…