Calculate the CPM and the floats
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- What is rfm model and rfm analysis explain with the complete model chart.Problem 7 Lynne Chappell manages the inventory of supplies in a large hospital. To determine which items should be closely monitored, Lynne decided to use the ABC classification schemeto group the items on the basis of their value. Asthe following table shows, she took a random sample of20 items and recorded the annual usage and unit cost ofeach. How should each item be classified?Inventory Item Unit cost(in U.S.dollars) AnnualUsageP21 $80 800A12 $400 70K43 $50 100S54 $60 90C25 $50 130D76 $30 170E27 $20 200F38 $300 90H19 $520 120Q10 $10 100R82 $20 80G65 $80 70L71 $220 200M94 $70 80V45 $15 60T62 $30 180I17 $20 80W22 $300 90O37 $700 85N88 $5 100What is the rfm model. explain the rfm model with complete model chart diagram
- You are serving flank steak for an event and need 200 6-oz. servings. You get samples and do yield tests. Show all calculations! After testing you find that: Vendor A Flank Steak costs $6.00 per pound. 4 pounds- trim loss of 1.5 pounds Vendor B Flank Steak costs $7.25 per pound. 4 pounds -trim loss of 1 pound. Determine what will the serving price of the flank steak be if your food cost target is 33%?Product K was introduced to the market some time ago and is now about to enter the maturity stage of its life cycle. The maturity stage is expected to last for ten weeks. Each unit has a variable cost of $38 and takes one standard hour to produce.The Managing Director is unsure which of four possible prices the company should charge during the next ten weeks. The following table shows the results of some market research into the level of weekly demand at alternative prices:Selling price per unit ($) 100 85 80 75Weekly demand (units) 600 800 1,200 1,400REQUIREDWhich one of the four selling prices should be charged for Product K in order to maximize its contribution during its maturity stage?Problem A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as: Price = 150 − 0.01 × Demand for an annual printing of this particular product. The company is planning its productions for the year 2021. The company is considering the production of a certain number of 2,000 pages units. In 2019 the company had produced 4 similar units but with fewer pages count per unit (1,200; 1,400; 1800; and 1,900), and the material costs associated with those 4 units are (14.15 JD, 15.65 JD, 18.25 JD, and 18.90 JD respectively). The material cost index values were 185 for 2018, 193 for 2019, 200 for 2020, and 206 for 2021). The fixed costs per year (i.e., per printing) = 50,000 JD, and the variable cost will consist of the material cost and the labor cost. The company started to produce 2000 pages unit in 2021, and the project management team observed that 8.23 labor…
- Problem A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as: Price = 150 − 0.01 × Demand for an annual printing of this particular product. The company is planning its productions for the year 2021. The company is considering the production of a certain number of 2,000 pages units. In 2019 the company had produced 4 similar units but with fewer pages count per unit (1,200; 1,400; 1800; and 1,900), and the material costs associated with those 4 units are (14.15 JD, 15.65 JD, 18.25 JD, and 18.90 JD respectively). The material cost index values were 185 for 2018, 193 for 2019, 200 for 2020, and 206 for 2021). The fixed costs per year (i.e., per printing) = 50,000 JD, and the variable cost will consist of the material cost and the labor cost. The company started to produce 2000 pages unit in 2021, and the project management team observed that 8.23 labor…Please show solution and formula used. Tia Moriarty started living in his own condominium after turning 25 years old. When he turned 26, he became fond of buying a pack of Gardenia wheat bread every Saturday at 5:30PM. The price of the bread is Php85.00 per pack. Assume the following: 1. Moriarty will live until 95 years old. 2. The price of the bread will remain constant, 3. Moriarty’s purchasing habits will not change. What is the lifetime value that can be generated from Moriarty as a customer of Gardenia wheat bread?The Gorman Manufacturing Company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent on the demand for the product. The following payoff table shows the projected profit (in thousands of dollars): (bold and underline is answer/ --- = needs answer) State of Nature Low Demand Medium Demand High Demand Decision Alternative s1 s2 s3 Manufacture, d1 -20 40 100 Purchase, d2 10 45 70 The state-of-nature probabilities are P(s1) = 0.40, P(s2) = 0.40, and P(s3) = 0.20. Do not round your intermediate calculations. (a) Use a decision tree to recommend a decision. Purchase Component Part (b) Use EVPI to determine whether Gorman should attempt to obtain a better estimate of demand. Enter your answer in thousands dollars. For example, an answer of $200 thousands should be entered as 200,000. Gorman should attempt to obtain a better estimate of…
- One option for coverage for flood, earthquake, and possible other loss exposures not covered under regular commercial property policies is a difference in conditions (DIC) policy. Which one of the following statements is true regarding DIC policies? DIC policies often require coinsurance as a condition of the property coverage. DIC insurance is not a cost-effective method of obtaining flood and earthquake coverage. DIC forms may offer broader coverage for some perils, and some exclusions may be less restrictive. A DIC policy takes little time to negotiate and prepare when compared to a policy made up of standard forms.Which of the following situations illustrate the problem of the introduction of new goods in the construction of the CPI? Check all that apply. The introduction of air bags in cars The invention of cell phones More scoops of raisins in each package of Raisin Bran Greater use of fuel-efficient cars after gasoline prices increase Increased personal computer purchases in response to a decline in their priceBicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout the year. Its "Road-Race" category contains reviews of bicycles used by riders primarily interested in racing. One of the most important factors in selecting a bicycle for racing is the weight of the bicycle. The following data show the weight (pounds) and price ($) for ten racing bicycles reviewed by the magazine. Click on the datafile logo to reference the data. Model Weight (lb) Price ($) Fierro 7B 17.9 2,200 HX 5000 16.2 6,350 Durbin Ultralight 15.0 8,470 Schmidt 16.0 6,300 WSilton Advanced 17.3 4,100 Bicyclette vélo 13.2 8,700 Supremo Team 16.3 6,100 XTC Racer 17.2 2,680 D'Onofrio Pro 17.7 3,500 Americana #6 14.2 8,100 (b) Use the data to develop an estimated regression equation that could be used to estimate the price for a bicycle given its weight. What is the estimated regression model? Let x represent the bicycle weight. If…