Question 1
"Tires for You" Case Study Refer to your reading for this Unit in the Coyle text for this assignment. Read the ?Tires for You, Inc.? Case Study, on p. 265. In a 1?2 page paper (excluding Title and Reference pages), answer Questions 1, 2 & 6 and attach your Tires4U Case worksheet with detailed calculations. Note that the Tables starting on pg 237 (Chapter 7) will come in very handy in completing the assignment. Tires for You, Inc. Tires for You, Inc. (TFY), founded in 1987, is an automotive repair shop specializing in replacement tires. Located in Altoona, Pennsylvania, TFY has grown successfully over the past few years because of the addition of a new general manager, Katie McMullen. Since tire replacement is a major portion of TFY?s business (it also performs oil changes, small mechanical repairs, etc.), Katie was surprised at the lack of forecasts for tire consumption for the company. Her senior mechanic, Skip Grenoble, told her that they usually stocked for this year what they sold last year. He readily admitted that several times throughout the season stock outs occurred and customers had to go elsewhere for tires. Although many tire replacements were for defective or destroyed tires, most tires were installed on cars whose original tires had worn out. Most often, four tires were installed at the same time. Katie was determined to get a better idea of how many tires to hold in stock during the various months of the year. Listed below is a summary of last year?s individual tire sales by month: Month Tires Used January 510 February 383 March 1,403 April 1,913 May 1,148 June 893 July 829 August 638 September 2,168 October 1,530 November 701 December 636 Total 12,752 Case Questions: Katie has hired you to determine the best technique for forecasting TFY demand based on the given data. 1. Calculate a forecast using a simple three-month moving average. 2. Calculate a forecast using a three-period weighted moving average. Use weights of 0.60, 0.25, and 0.15 for the most recent period, the second most recent period, and the third most recent period, respectively. 6. Based on the various methods used to calculate a forecast for TFY, which method produced the best forecast? Why? How could you improve upon this forecast?,Can you please UNLOCK these attachments I want to compare my answers Thank you very much. Please respond ASAP! Dear Student, I have accepted your assignment and started working on it. Regards. Tutor's Reply: Dear Student, Please find the solution attached part 1. Regards Download Attachment: 7118733.docx Tutor's Reply: Dear Student, Please find the solution attached part 2. Regards Download Attachment: 7118733.xlsx
Question 2
I am having some trouble with these journal entries, and so I have uploaded some practice entries,20. Kirby County established a tax agency fund to collect property taxes for the City of Kix, the City of Denton, and Kirby County School District. Total tax levies of the three governmental units were $200,000 for the year, of which $60,000 was for the City of Kix, $40,000 for Denton, and $100,000 for the School District. The tax agency fund charges a 2% collection fee that it transfers to the general fund of the County in order to cover costs incurred for agency fund operations. During the year the tax agency fund collected and remitted $150,000 of the $200,000 levies to the various governmental units. Collection fees associated with the $150,000 were remitted to Kirby County?s general fund prior to year end. Required Prepare the journal entries to record tax collections and remittances for the Kirby County Tax Agency Fund.,19. The Central Stores Fund of Cook City provides centralized management of purchasing, storage, and issue of supplies for the entire City. For the following summarized transactions and events for the year ended June 30, provide the fund level entries in general journal form required to conform to generally accepted accounting principles. If no entry is needed, so indicate. (12 points) 1) The Central Stores Fund ordered supplies at an estimated cost of $62,000. 2) The supplies ordered in (1) above were received at invoice costs of $60,400; these invoices were approved for payment. 3) Supplies costing $51,800 were issued to the City General Fund and billed to that fund at a markup of 20 percent on cost. 4) Expenses paid in cash during the year were: purchasing, $5,700; warehousing, $7,100; and general and administrative, $6,200.,4. The comprehensive annual financial report (CAFR) of a government should contain a statement of revenues, expenses, and changes in net assets for A. Both proprietary and governmental funds. B. Proprietary but not governmental funds. C. Governmental but not proprietary funds. D. Proprietary and fiduciary funds.,Thank You!,Will I get an email with my answer or will it be here?
Question 3
Brisky Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts-equipment depreciation and supervisory expense-to three activity cost pools-Machining, Order Filling, and Other-based on resource consumption. Data to perform these allocations appear below: Overhead costs: Equipment depreciation $23,000 Supervisory expense $12,000 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling Other Equipment depreciation 0.60 0.20 0.20 Supervisory expense 0.60 0.10 0.30 In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity: MHs (Machining) Orders (Order Filling) Product I3 6,250 145 Product U8 23,400 1,000 Total 29,650 1,145 Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins. Sales and Direct Cost Data: Product I3 Product U8 Sales (total) $67,200 $63,300 Direct materials (total) $31,700 $15,600 Direct labor (total) $23,100 $31,300 What is the product margin for Product I3 under activity-based costing? (Round your intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) A. $8,007 B. $-2,213 C, 1,787 D. $7,227,Do you know if I will receive this today Monday by 7 pm
Question 4
Must be done Today For this project, you will write a paper that involves designing, conducting, and analyzing results from your own experiment to test the sensory discrimination of one of your friends. Choose a friend who claims to be able to tell the difference between two very similar objects. You are free to choose the two objects, however here are some ideas to get you thinking along the right lines: Coke vs. Pepsi, Regular vs. Decaf coffee, Sweet 'n' Low vs. Equal sweetener, butter vs. margarine, or Ghiradelli chocolate vs. Hershey?s chocolate. Which you choose depends on whoever your ?expert? testing subject is. You will need to find an expert on your own, and will need to supply your own materials. The cost of your experiment will obviously depend primarily on the objects to be tested; testing to see if the subject can discern between bottled water and tap water will only cost a couple dollars, testing to see if the subject can discern between different brands of caviar will get pricey fast! Your paper should consist of a single document in Microsoft Word format. After you have completed your paper, you must submit it to Turnitin.com. Login and password details for Turnitin.com can be found in the classroom. 1. First, you should brainstorm to find a friend who is either a self-proclaimed expert or has some food/beverage related idiosyncracy(1). 2. Determine a protocol for administering the test a) What should be done about random variations in the items to be tested? For example, how do you prevent temperature change in the product, or to make sure each cup of coffee is equally sweet or has the same amount of cream? Before conducting your experiment, carefully lay out the procedure for administering the test, such as how the coffee will be made, how the wine will be decanted, and so forth. This is related to the important issue of ensuring that each trial is independent (i.e. the previous trials aren?t tainting your taster?s sense of taste). If you have ever been to a wine tasting, you?ll notice that you can tell the difference between the first few sips of wine, but once you get to the 11th and 12th glass, it?s all sort of a blur (and not due to inebriation!). Carefully consider how you will attempt to overcome this problem. b) How many trials should be used in the test (for this, see Levine Chapter 7 and 8.4, or read up on the Fisher exact test)? Should they be paired or independent(2)? In what order should the items be presented? Should the experiment be run in one sitting or spaced out over a number of days? Done properly, the experiment should be designed such that if the expert has no expert skills, the result will be wholly governed by chance. The number and ordering of the trials should allow an expert to prove his or her abilities while simultaneously preventing a fraud from succeeding. You will want to keep the binomial distribution in mind when making these decisions. c) What conclusion could be drawn from a perfect score or from a test with one or more errors? For the design you are considering, list all possible results of the experiment. For each possible result, decide in advance what conclusion you will make if it occurs. In determining this mapping of outcomes to conclusions, consider the probability that someone with no powers of discrimination could wind up with each outcome. You may want to make adjustments in your design to increase the sensitivity of your experiment. For example, if someone can?t distinguish decaf coffee from regular, then just by guessing, he/she should still be right half of the time and there will be a small chance, which you should calculate, of being right 100% of the time. On the other hand, if the taster possesses some, but not perfect, skill in differentiation, he or she will make some mistakes. 3. Write out an instruction sheet for your experimental process. Conduct a ?dress rehearsal? on somebody other than your subject to work out kinks in the process. After the practice run, determine whether or not you want to make changes in your instruction sheet to address any problems that arose. This practice run is an extremely important step; many people make big mistakes in their first attempt and historically, students who have taken this step seriously have scored much more highly on this project than those who do not. 4. You should now be ready to run your experiment. Record your results CAREFULLY, and note any unusual occurrences in the experimental process. It may be a good idea to keep track of the order in which the samples are served to your subject. 5. Numerically, summarize the results and analyze the data. Do they support or contradict the claim that the subject possesses no sensory discrimination? Use your list of all possible events and subsequent actions to come to a conclusion. Discuss the reasons behind the decision that you have made. For ideas on how to analyze the data, see Levine Ch. 9 or use the Fisher exact test. 6. What changes would you make to your experimental process if you had the opportunity to do it again? Why didn't you pick these issues up when you did your practice run? You are to work individually on this assignment. You can find definitions of academic dishonesty and plagiarism at http://www.umuc.edu/policy/academic/aa15025.shtml, along with the procedures I will follow should I suspect any transgressions of such nature. Suggested Report Format with Headings Purpose of the study The purpose of the study formally explains why the study was important to conduct and write the null and alternative hypotheses of the study (see Levine Ch. 9.1 and read the lecture material in the classroom from session 8). Method The Method section explains how the study was conducted to collect data. The section should include the following: 1. Participants of the study. Who are they? Where did you get the participants for the study? Which sampling design was used to select the participants? 2. Experimental design. Which experimental/sampling design was used in the study? 3. Data Collection. Explain the method used to collect data. 4. Data Analysis. For hypothesis testing, explain how you plan to calculate the data. 5. Step-by-step procedure. Explain the explicit steps from beginning to end for conducting the study. If another researcher wants to replicate the study, the directions must contain precise information for conducting the study. Data Analysis Show the results of your data analysis, including tables and charts as necessary. You should also discuss, in plain English, the results of the data calculation, both in terms of magnitude and significance. Discussion Discuss what you learned from the data collected. Did the results support or not support the null hypothesis? Appendix Place the charts, tables, and other relevant documents in an appendix at the end of your paper. Your paper should contain between 5 and 7 pages of text, plus any additional charts/tables/graphs found in the appendix. -------------------------------------------------------------------------------- (1) While something simple like butter vs. margarine or bottled water vs. tap water is a reasonable topic, students who have been more creative in their subject selection have found this paper to be rather enjoyable. Some examples of creative subjects: Testing to see is one call tell the difference between freshly grated parmesan cheese and the Kraft brand parmesan cheese (in the green tube) One individual's wife maintained that the white candies from a box of Good 'N' Plenty candy did not taste as good as the pink candies. The test was to see if his wife could tell the difference. One individual had a friend who ran a wine tasting social group. She tested whether or not her friend could discern between red and white wine by bouquet alone. Note that this does not say that one of the more "creative" ideas will necessarily make for a better experiment, paper, or grade. You are more likely, however, to enjoy the process of conducting the experiment and analyzing the data should you put serious thought into your test subject. (2) Paired vs. independent?In the context of a Coke vs. Pepsi expert, for example, in a paired test, for each trial you present one of each type at the same time and tell your subject to identify which one is Coke and which is Pepsi. If you were doing independent trials, in each trial they?d get exactly one cup, filled with either Coke or Pepsi, and be asked to identify which it is.,Deadline is a MUST!,End of the day today! And I am on East Coast!!!,Doest not need to be perfect! Just Do It like Nike! ?
Question 5
Capital Allocation Consider the following capital market: a risk-free asset yielding 2.00% per year and a mutual fund consisting of 75% stocks and 25% bonds. The expected return on stocks is 7.00% per year and the expected return on bonds is 4.50% per year. The standard deviation of stock returns is 17.00% and the standard deviation of bond returns 10.00%. The stock, bond and risk-free returns are all uncorrelated. 1. What is the expected return on the mutual fund? 2. What is the standard deviation of returns for the mutual fund? Now, assume the correlation between stock and bond returns is 0.70 and the correlations between stock and risk-free returns and between the bond and risk-free returns are 0 (by construction, correlations with the risk-free asset are always zero). 3. What is the standard deviation of returns for the mutual fund? Is it higher or lower than the standard deviation found in part 2? Why? Now, assume that the standard deviation of the mutual fund portfolio is exactly 14.00% per year and a potential customer has a risk-aversion coefficient of 2.5. 4. What correlation between the stock and bond returns is consistent with this portfolio standard deviation? 5. What is the optimal allocation to the risky mutual fund (the fund with exactly 14.00% standard deviation) for this investor? 6. What is the expected return on the complete portfolio? 7. What is the standard deviation of the complete portfolio? 8. What is the Sharpe ratio of the complete portfolio? Question 2 Markowitz Optimization Open the associated Excel file named QPS2-2 input.xlsx in My Course Content::Problem Set Spreadsheets. Use observation numbers 52 through 111 (2001m01 ? 2005m12) to answer the following questions: 1. What is the average return for each of the nine indexes? 2. Show the covariance matrix of returns. Briefly describe how you constructed the covariance matrix. Consider the simple case where short sales are allowed. Use Excel Solver to find the Minimum Variance Portfolio (MVP). 3. What is the expected portfolio return for the MVP portfolio? 4. What is the portfolio standard deviation for the MVP portfolio? 5. What is the portfolio composition (i.e., what are the weights for the nine assets)? Consider the simple case where short sales are allowed. Use Excel Solver to find the Maximum return portfolio with a standard deviation of exactly 7%. 6. What is the expected portfolio return for this portfolio? 7. What is the portfolio composition (i.e., what are the weights for the nine assets)? Consider the more realistic case where short sales are NOT allowed. Use Excel Solver to find the Minimum Variance Portfolio (MVP). 8. What is the expected portfolio return for the MVP portfolio? 9. What is the portfolio standard deviation for the MVP portfolio? 10. What is the portfolio composition (i.e., what are the weights for the nine assets)? Consider the simple case where short sales are NOT allowed. Use Excel Solver to find the Market Portfolio if the risk-free rate is 0.25%/month (3%/year). 11. What is the expected portfolio return for this portfolio? 12. What is the portfolio standard deviation for this portfolio? 13. What is the portfolio composition (i.e., what are the weights for the nine assets)? 14. What is the maximum Sharpe ratio?
