28 May Question Jane wants to setup a photo shop. The cost to rent an office is $150 per week. The variable cost of making one photo is $20 and she can sell it for $50.
Question
variable cost of making one photo is $20 and she can sell it for $50.
1. Jane has to sell ________photos per week to break even. (Please only enter an integer and
include no units.)
Jane wants to setup a photo shop. The cost to rent an office is $150 per week. The
variable cost of making one photo is $20 and she can sell it for $50.
2. If Jane sells 10 units, her profits would be _______dollars. (Please only enter an integer and
include no units.)
Paul wants to choose one of the two investment opportunities over three possible
scenarios. Investment 1 will yield a return of $10,000 in Scenario 1, $2,000 in Scenario 2,
and a negative return of -$5,000 in Scenario 3. Investment 2 will yield a return of $6,000 in
Scenario 1, $4,000 in Scenario 2, and zero in Scenario 3. The probability for Scenario 1 is
0.2, for Scenario 2 is 0.3, and for Scenario 3 is 0.5.
3. If you were to choose the investment that maximizes Paul’s Expected Money Value (EMV),
then you should choose __________.
A. Investment 1
B. Investment 2
C. Indifferent
Paul wants to choose one of the two investment opportunities over three possible
scenarios. Investment 1 will yield a return of $10,000 in Scenario 1, $2,000 in Scenario 2,
and a negative return of -$5,000 in Scenario 3. Investment 2 will yield a return of $6,000 in
Scenario 1, $4,000 in Scenario 2, and zero in Scenario 3. The probability for Scenario 1 is
0.2, for Scenario 2 is 0.3, and for Scenario 3 is 0.5.
4. If Paul is uncertain about the return for Investment 1 in Scenario 1, then this return has to be
__________ dollars in order to make Paul indifferent between these two investments (i.e. the
two investments would have the same EMV.) (Please only enter an integer and include no
units.)
Sam has a cleaning service. To better allocate his resources, he would like to forecast his
weekly orders based on the order number he received in the past 13 weeks as shown in
the following table.
Week
Week 1
Demand
11
Week 2
14
Week 3
16
Week 4
10
Week 5
15
Week 6
17
Week 7
11
Week 8
14
Week 9
17
Week 10
12
Week 11
14
Week 12
16
Week 13
15
5. Using a three week moving average, Sam’s forecast for his Week 14 order number
is__________. (Please round to two decimal points and include no units.)
Sam has a cleaning service. To better allocate his resources, he would like to forecast his
weekly orders based on the order number he received in the past 13 weeks as shown in
the following table.
Week
Demand
Week 1
11
Week 2
14
Week 3
16
Week 4
10
Week 5
15
Week 6
17
Week 7
11
Week 8
14
Week 9
17
Week 10
12
Week 11
14
Week 12
16
Week 13
15
6. Using a three week weighted moving average with weights 3, 2, and 1 given to the most
recent, second most recent, and third most recent week, respectively, Sam’s forecast for his
Week 14 order number is ____________. (Please round to two decimal points and include no
units.)
Sam has a cleaning service. To better allocate his resources, he would like to forecast his
weekly orders based on the order number he received in the past 13 weeks as shown in
the following table.
Week
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