Concept explainers
a)
To identify: The number of times a person must visit the bank.
Inventory and supply chain models:
The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.
b)
To identify: The amount of money the person must withdraw each time going to the bank.
c)
To identify: If a person will go to the bank more or less often if the need for cash increases.
d)
To identify: If a person will go to the bank more or less often if the interest rate increases.
e)
To identify: If a person will go to the bank more or less often if the number of tellers increases.
Want to see the full answer?
Check out a sample textbook solutionChapter 12 Solutions
Practical Management Science, Loose-leaf Version
- You deposit $4000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 25 years?arrow_forwardIn cash management, the difference between the bank balance for a firm's account and the cash balance that the firm shows on its own books is called O A. float O B. bank charges O C. interest income D. reconciling itemarrow_forwardQuickBooks Online allows the creation of bank rules. In which 3 situations would they be useful?(Select all that apply) A. To automatically split a transaction B. To automatically assign a transaction type C. To automatically assign a payee to the transaction D. To automatically delete a transaction E. To automatically record a monthly journal entryarrow_forward
- Adjusted Bank Balance. Mary's last bank statement showed an ending balance of $208.32. This month, she deposited $787.01 in her account and withdrew a total of $271.89. Furthermore, Mary wrote a total of five checks, two of which have cleared. The two checks that have cleared total $182.73. The three remaining checks total $122.15. Mary pays no fees at her bank. What is the balance shown this month on Mary's bank statement? What is the adjusted bank balance? The balance shown this month on Mary's bank statement is CLUD (Round to the nearest cent.)arrow_forward35) Orders for a stock trading system are coded as follows from left to right: i. The first character is 'B' for a "buy" order, 'S' for a "sell" order ii. The number of shares to buy or sell iii. The stock ticker symbol in all uppercase letters for a "buy" order or alf lowercase letters for a "sell" order iv. If the order is a "limit" order with a specific buy/sell price, the requested price in pennies, otherwise the price should be omitted and the order will be a market order at the current asking price for the stock v. If the order is a "limit" order with an expiration time, the character 'T' followed by the number of minutes until the order expires and should no longer be executedarrow_forwardAssume “Jane” saves $10,000 per year for 10 years starting at age 25. At age 35 she no longer is able to save but leaves her accumulated savings invested until age 65 when she retires. Assume “John” does not begin saving until age 35, but then saves $10,000 per year until age 65 when he also retires. Assume John and Jane invest their entire wealth in the same mutual fund. Who accumulates a larger retirement nest egg? 1. Answer this question by building an Excel spreadsheet that allows you to show the difference in wealth at age 65 assuming an annual rate of return of 8%. Make sure your model allows you to change the assumed rate of return and automatically recalculate the difference in wealth at age 65. 2. At what assumed rate of return are John and Jane’s wealth at age 65 equal? Use “Goal Seek” in order to find this rate of return. 3. Create a graph to clearly show how final wealth for John and Jane depends on the rate of return. Start at 0% and increase the rate of return in…arrow_forward
- A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $70,000 saved up for when she goes to college in 17 years, assuming the account earns a 6% return. Annual deposit: $arrow_forward41. A typical monthly home loan payment includes principal, interest, taxes, and insurance. Why do lenders require borrowers to contribute to their annual property taxes with each monthly loan payment? A borrower never pays a portion of their annual taxes as part of their monthly loan payment. Instead, they make a single lump- sum payment each year. It allows the borrower to pay less in property taxes each year. It serves as security for the lender. This way the lender ensures the borrower's taxes are paid each year and a tax lien will not be placed on the property. It allows the borrower to write-off their tax payments when filing their personal income taxarrow_forwardDamen Ship Repair has just introduced a new service. For a fixed annual fee, Damen will predict what are the most likely repair parts you will need for each of your cargo ships over the next year. It will then preposition those parts either on your ships or at Damen’s shipyards depending on whether your crew can install that part or it must be done at a shipyard. Then all you pay for is the installation labor you actually use each year, which also comes at a discounted rate. a) Specify the key features and benefits that they would want to inform customers about b) Develop an integrated marketing communication plan for marketing the servicearrow_forward
- Suppose that machinery used by a bank for sorting and clearing cheques breaks down. This is a manifestation of: Select one: a. Liquidity Risk b. Operational Risk c. Credit Risk d. Insolvency Riskarrow_forwardIt is important to get the bank to grant you the loan you need. What do you think the bank will consider before granting it if it only had to focus on one thing? Of the three alternatives, which one do you consider to be the most relevant for the bank? a. sales volume b. confirming that the sum of the expected profit after taxes plus depreciation exceeds the annual repayment. c. Ensuring that profit before interest and taxes is approximately 5% of salesarrow_forwardBarbara Flynn sells papers at a newspaper stand for $0.40. The papers cost her $0.30, giving her a $0.10 profit on each one she sells. From past experience Barbara knows that: a) 20% of the time she sells 150 papers. b) 20% of the time she sells 200 papers. c) 30% of the time she sells 250 papers. d) 30% of the time she sells 300 papers. Assuming that Barbara believes the cost of a lost sale to be $0.05 and any unsold papers cost her $0.30 and she orders 250 papers. Use the following random numbers: 14, 4, 13, 9, and 25 for simulating Barbara's profit. (Note: Assume the random number interval begins at 01 and ends at 00.) Based on the given probability distribution and the order size, for the given random number Barbara's sales and profit are (enter your responses for sales as integers and round all profit responses to two decimal places): Random Number Sales Profit 14 4 13 9 25arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,