Azure Bay Resort's housekeeping supply tracking reveal the following year-end data is below. Projected usage: 12,000 units Actual consumption: 10,800 units Standard allowance: 5% variance Room occupancy remained stable at 85%. The department head needs to examine adherence to consumption standards. a) Below standard b) Within standard c) Above standard d) Requires review
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- Study the performance report for Barbaras Bistro in Figure 1-2 of the chapter and write a brief explanation of the strengths and weaknesses of September and year-to-date operations.a. Using the least squares method, develop the equation for predicting weekly receiving report costs based on the number of shipments received. b. What is the predicted amount of receiving report costs for a month (assume a month is exactly four weeks) in which 165 shipments are received?The Port Authority sells a wide variety of cables and adapters for electronic equipment online. Last year the mean value of orders placed with the Port Authority was 47.28, and management wants to assess whether the mean value of orders placed to date this year is the same as last year. The values of a sample of 49,896 orders placed this year are collected and recorded in the tile PortAuthority. a. Formulate hypotheses that can be used to test whether the mean value of orders placed this year differs from the mean value of orders placed last year. b. Use the data in the file PortAuthority to conduct your hypothesis test. What is the p value for your hypothesis test? At = 0.01, what is your conclusion?
- Johnson Filtration. Inc., provides maintenance service for water filtration systems throughout southern Florida. Customers contact Johnson with requests for maintenance service on their water filtration systems. To estimate the service time and the service cost. Johnson’s managers want to predict the repair time necessary for each maintenance request. Hence, repair time in hours is the dependent variable. Repair time is believed to be related to three factors: the number of months since the last maintenance service, the type of repair problem (mechanical or electrical), and the repairperson who performs the repair (Donna Newton or Bob Jones). Data for a sample of 10 service calls are reported in the following table: Develop the simple linear regression equation to predict repair time given the number of months since the last maintenance service, and use the results to test the hypothesis that no relationship exists between repair time and the number of months since the last maintenance service at the 0.05 level of significance. What is the interpretation of this relationship? What does the coefficient of determination tell you about this model? Using the simple linear regression model developed in part (a), calculate the predicted repair time and residual for each of the 10 repairs in the data. Sort the data in ascending order by value of the residual. Do you see any pattern in the residuals for the two types of repair? Do you see any pattern in the residuals for the two repairpersons? Do these results suggest any potential modifications to your simple linear regression model? Now create a scatter chart with months since last service on the x-axis and repair time in hours on the y-axis for which the points representing electrical and mechanical repairs are shown in different shapes and/or colors. Create a similar scatter chart of months since last service and repair time in hours for which the points representing repairs by Bob Jones and Donna Newton are shown in different shapes and/or colors. Do these charts and the results of your residual analysis suggest the same potential modifications to your simple linear regression model? Create a new dummy variable that is equal to zero if the type of repair is mechanical and one if the type of repair is electrical. Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service and the type of repair. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Create a new dummy variable that is equal to zero if the repairperson is Bob Jones and one if the repairperson is Donna Newton. Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service and the repairperson. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Develop the multiple regression equation to predict repair time, given the number of months since the last maintenance service, the type of repair, and the repairperson. What are the interpretations of the estimated regression parameters? What does the coefficient of determination tell you about this model? Which of these models would you use? Why?Armer Company is accumulating data to use in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested the use of linear regression to derive an equation for maintenance hours and costs. Data regarding the maintenance hours and costs for the last year and the results of the regression analysis follow: Maintenance Machine Month Cost Hours $ 4,200 Jan. 480 Feb. 3,000 320 Mar. 3,600 400 Apr. 2,820 300 May 4,350 500 June 2,960 310 July 3,030 320 Aug. 4,470 520 Sept. 4,260 490 Oct. 4,050 470 Nov. 3,300 350 Dec. 3,160 340 Sum $43, 200 4,800 $ 3,600 $ $ $ 684.65 Average 400 Average cost per hour a (intercept) b (coefficient) 9.00 7.2884 Standard error of the estimate 34.469 R-squared 0.99724 t-value for b 60.105 At 400 hours of activity, Armer management can be approximately two-thirds confident that the maintenance costs will be in the range ofHi there, can you please help me with the following, I just want to make sure I am on the right track and make changes as apporpriate. CoGo Trading a subsidiary of Best Fit Ltd has just prepared the final results for the year ended 30 June 2021. To evaluate the performance of the business and to inform relevant stakeholders, you are required to prepare a performance report showing: Appropriate variances for revenue and cost items (dollar amount and percentage) Indicating whether variances are favourable or unfavourable Identify variances that are significant (alert any variances exceeding 5%) for the organisation for further investigation and direction by the supervisor. Complete the Performance Report above outlining the variances (both in dollars and percentages). CoGo Trading Performance Report for the year ended 30 June 2021 Revenue Costs Variable Cost of Sales Sales Commissions Sales Discounts Other Sales Expenses Fixed Advertising Depreciation Electricity Insurance Rent Salaries…
- Estimating a cost function. The controller of the Javier Company is preparing the budget for 2018 and needs to estimate a cost function for delivery costs. Information regarding delivery costs incurred in the prior two months are:Estimating a cost function. The controller of the Javier Company is preparing the budget for 2018 and needs to estimate a cost function for delivery costs. Information regarding delivery costs incurred in the prior two months are:Ohio Logistics manages the logistical activities for firms by matching companies that need products shipped with carriers that can provide the best rates and best service for the companies. Ohio Logistics is very concerned that its carriers deliver their customers material on time, so it carefully monitors the percentage of on-time deliveries. The following table contains a list of the carriers used by Ohio Logistics and the corresponding on-time percentages for the current and previous years. a. Sort the carriers in descending order by their current years percentage of on-time deliveries. Which carrier is providing the best service in the current year? Which carrier is providing the worst service in the current year? b. Calculate the change in percentage of on-time deliveries from the previous to the current year for each carrier. Use Excels conditional formatting to highlight the carriers whose on-time percentage decreased from the previous year to the current year. c. Use Excels conditional formatting tool to create data bars for the change in percentage of on-time deliveries from the previous year to the current year for each carrier calculated in part b. d. Which carriers should Ohio Logistics try to use in the future? Why?
- Norris Company implemented a quality improvement program and tracked the following for the 5 years: By cost category of sales for the same period of time: Required: 1. Prepare a bar graph (hat reveals the trend in quality cost as a percentage of sales (time on horizontal axis and percentages on the vertical). Comment on the message of the graph. 2. Prepare a bar graph for each cost category as a percentage of sales. What does this graph tell you?Ethics in Action In August, Lannister Company introduced a new performance measurement system in manufacturing operations. One of the new performance measures is lead time, which is determined by tagging a random sample of items with a log sheet throughout the month. The log sheets recorded the time that the sample items started production and the time that they ended production, as well as all steps in between. At the end of the month, the controller collected the log sheets and computed the average lead time of the tagged products. This number was reported to central management and was used to evaluate the performance of the plant manager. Because of the poor lead time results reported for August, the plant was under extreme pressure to reduce lead time in September. The following memo was intercepted by the controller. Date: September 3 To: Hourly Employees From: Plant Manager During last month, you may have noticed that some of the products were tagged with a log sheet. This sheet records the time that a product enters production and the time that it leaves production. The difference between these two times is termed the lead time. Our plant is evaluated on improving lead time. From now on, I ask all of you to keep an eye out for the tagged items. When you see a tagged item, it is to receive special attention. Work on that item first, and then immediately move it to the next operation. Under no circumstances should tagged items wait on any other work that you have. Naturally, report accurate information. I insist that you record the correct times on the log sheet as the product goes through your operations. How should the controller respond to this discovery?In this task you are provided with an excel file with 2 spread sheets (Budgeted Rooms Revenue Sheet, Actual Rooms Revenue sheet) with the actual figures on the rooms for a given quarter. You are required to calculate the actual revenue that has been generated for each month in the given quarter based on the actual occupancy rate. Calculate the following details using the appropriate sheet as per the given instructions Budgeted Rooms Revenue Sheet Refer to the projected data sheet. In this sheet first calculate the total projected/forecasted revenue per room type for all 365 days. You are also required to calculate total projected/forecasted revenue per room type for each month for Jan, Feb and Mar. Calculate the total rooms for each month Calculate the Total Revenue for all room types for each month Calculate the total projected revenue for 3 months (Jan, Feb and Mar) Actual Rooms Revenue Sheet In this sheet you are provided with the Actual occupancy for each month. Calculate the…
