You have prepared a coin flipping simulation. In your simulation, a value of less than 0.5 is designated as "Heads". Your simulation generates the following random numbers: 0.553, 0.268, 0.916, 0.588, 0.237, 0.881, 0.067, 0.817, 0.877, 0.426. (Do not round intermediate calculations.) How many trials ended in the result "Heads"? Heads
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- Rollo Megabux has $1 million to invest in stocks orbonds. The percentage yield on each investment during thecoming year depends on whether the economy has a goodor a bad year (see Table 17). It is equally likely that theeconomy will have a good or a bad year.a If Rollo is risk-neutral, how should he invest hismoney?b For $10,000, Rollo can hire a consulting firm toforecast the state of the economy. The consulting firm’sforecasts have the following properties:P(good forecast|economy good) .80P(good forecast|economy bad) .20Should Rollo hire the consulting firm? What are EVSIand EVPI? Economy EconomyHas Good Has BadYear YearYield on stocks 22% 10%Yield on bonds 16% 14%Michelle, age 45, currently makes $95,000. Her wage replacement ratio is determined to be 75 percent. She expects that inflation will average 3 percent for her entire life expectancy. She expects to earn 8 percent on her investments and retire at age 65, possibly living to age 95. She has sent for and received her Social Security benefit statement, which indicated that her Social Security retirement benefit in today’s dollars adjusted for early retirement is $20,000 per year. How much capital does Jordan need to retire at age 65?.HomeMade Pizza Company In 1997, when Eric Fosse told his family and friends that he was leaving his job to open a pizza business in Chicago, they probably thought he was crazy. Seriously, how many pizza delivery services do you think already existed in Chicago? Yet Fosse had a new idea. His pizzas would be made to order and delivered, just like the others, but rather than delivering the pizzas hot and ready-to-eat, his pizzas would be delivered uncooked and unboxed. Customers would slide the pizza, which came on heatable parchment paper, into their ovens at 425 degrees and in 10 to 15 minutes have a fresh pizza. The advantage: the pizza would be filled with fresh ingredients and would be piping hot from the oven. Sound simple? It wasn’t. Fosse’s distinctive advantage, other than delivering pizzas in a new way, is fresh ingredients and a dough recipe that was rolled out after months of taste testing. To get the freshest ingredients possible, the company works with local farmers to…
- Explain what is meant by the test data approach. What arethe major difficulties with using this approach? Define parallel simulation with auditsoftware and provide an example of how it can be used to test a client’s payroll system1. Suppose you are going on a weekend trip to a city that is d miles away. Develop a model that determines your round-trip gasoline costs. What assumptions or approximations are necessary to treat this model as a deterministic model? Are these assumptions or approximations acceptable to you? 2. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a)a relatively simple model that is a reasonable approximation of the real situation, and (b)a thorough and complex model that is the most accurate mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?85. Health care is continually in the news. Can (or should)simulation be used to help solve, or at least study,some of the difficult problems associated with healthcare? Provide at least two examples where simulationmight be useful.
- #3 Mention some drawbacks of the Linear Model?Forrester and Cohen is a small accounting firm, managedby Joseph Cohen since the retirement in December of hispartner Brad Forrester. Cohen and his three CPAs can togetherbill 640 hours per month. When Cohen or another accountantbills 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 aboveand beyond the $5,000 salary each draws during the month.(Cohen draws the same base pay as his employees.) Cohenstrongly discourages any CPA from working (billing) more than240 hours in any given month. The demand for billable hours forthe firm over the next 6 months is estimated below: Cohen has an agreement with Forrester, his former partner,to help out during the busy tax season, if needed, for an hourly feeof $125. Cohen will not even consider laying off one of his colleaguesin the case of a slow economy. He could, however,…Continuation: These positions do not entail a salary as we anticipate that our efforts will yield returns in the form of profits generated during the business simulation. Instead of wages, our focus is on maximizing income through efficient operations and effective strategies throughout the duration of the simulation. Table 9. Administrative Expenses Particulars Rate per Day Manager Care of Mandaragon Cashier Care of Amanoddin & Tumayao Financial Manager Care of Tumayao Total Php 0.00 Selling and Administrative Expenses Since selling and administrative costs are covered by CupEat members, no further expenditures will be necessary. Table 10. Selling and Administrative Expenses Particulars Total Expense Administrative Expenses Cover of CupEat members Communication Expense Cover of CupEat members Promotional Expense Cover of CupEat members Total Php 0.00…
- 13 In addition to the legislation and guidelines that may apply, the investment policythat is decided upon by the investment manager (for a client) should include allthe following elements EXCEPT rate of return expectations (including timeframe) and expected volatility specific goals about continuing education an investment review process the asset classes for investment a policy review processSame situation as in the previous two problems this time the magnet s mass is 5.68 kg and the magnetic force pulling it to the right is 170.9 N. The length of the cord is 1.70 m, and the ceiling is 2.98 m above the floor. Suppose that you cut the cord and the magnet falls to the floor while still being pulled to the right by the force of 170.9 N. How long will it take the magnet to hit the floor? 0.848 s 0.403 s 0.707 s 0.495 s1– Please complete all work in excel. Use excel to make the calculations (cells can be clicked on to view any formulas used) and be sure to identify your answer, including units. You must have an excel file with formulas within the cell. A. XCountry Train Inc. specializes in trans-American moves for businesses and individuals through the delivery of containers. For every container the company loads on its trans-American rail, the business must pay the rail owners $8,000. In addition, containers are weighed and for each pound of weight, the company must pay $0.10. Harry plans to charge $0.50 per pound to his customers. What would the total revenue be for this?