Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particularactivity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. Theprojected fee for the seminar is 600 dollars per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is 9600dollars. Micromedia rents computers for its seminars at a cost of 60 dollars percomputer per day.a. Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar.b. Develop a model for the total profit if x students enroll in the seminar.c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if its forecast is accurate?d. Compute the breakeven point.e. Write a report and recommendation based on the analysis

X = Number of students who enroll in the seminar Total cost = Fixed cost + Variable cost Variable…

Answered: Micromedia offers computer training…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Estimate the cost of a 0.75 million gallon per day (MGD) induced-draft packed tower for air-stripping trihalomethanes from drinking water if the cost for a 2.9-MGD tower is $153,200. The exponent in the cost-capacity equation is 0.47. The cost of a 0.75 million gallon per day induced-draft packed tower is $
Partial Operational and Financial Productivity Software Solution (SOS) helps subscriberssolve software problems. All transactions are made over the telephone. For the year 2018, 10 engineers, most of whom are recent graduates, handled 100,000 calls. The average yearly salary for software engineers was $45,000. Starting in 2019, the firm retained and hired only software engineerswith at least 2 years of experience. SOS raised the engineers’ salary to $60,000 per year. In 2019,eight engineers handled 108,000 calls.Required Carry all computations to 4 digits after the decimal point.1. Calculate the partial operational productivity ratio for both years.2. Calculate the partial financial productivity ratio for both years.
On the morning of October 31st, Elaine Black, Chief Information Officer at Robatelli'sPizzeria, was waiting for both Jim Saxton, database administrator, and PeterGreyton, operations manager, to come to her office for a meeting. While waiting,Elaine was thinking about the surge of telephone and Internet orders expected to bereceived through the company's customer order center within the next 12 hours.Halloween had always been the most popular day of the year for people in thegreater Pittsburgh area to order pizza from Robatelli's. There were 53 restaurantlocations to serve these customers, but only one location to receive all of the ordersand forward them to the right restaurant. Elaine's thoughts were interrupted as Jimand Peter entered her office. The following conversation took place:ELAINE Well, guys, it's here again, our biggest day of the year. Not only isHalloween a busy day, but we have the upcoming day afterThanksgiving, the week before Christmas, and Super Bowl Sunday. Canour…
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In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougle that teaches children how to dance. The fixed cost to produce the doll is $100,000. The variable cost, which includes material, labor, and shipping costs, is $29 per doll. During the holiday selling season, FTC will sell the dolls for $37 each. If FTC overproduces the dolls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys during the holiday selling season is extremely uncertain. Forecasts are for expected sales of 60,000 dolls with a standar deviation of 15,000. The normal probability distribution is assumed to be a good description of the demand. FTC has tentatively decided to produce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity before finalizing the decision. unit production quantity and a more conservative 50,000-unit production…
An online coaching program has been developed for patients with borderline hypertension. A total of 100 patients are randomized to receive the coaching, and 100 patients serve as control subjects. The start-up cost of the coaching program is $2,000 for software, hardware, and office supplies. A part-time nurse is hired for the program, with a salary of $15,000 plus 20% fringe benefits. The cost per year per patient for medication is $1000. It has been shown that for the first year after beginning the program, 90% with coaching were not considered hypertensive (normal or borderline blood pressure) and 10% were prescribed medication to control their blood pressure. In the control group (no coaching), 70% were not considered hypertensive after 1 year and 30% were prescribed blood pressure medication. Patients in the coaching group continue to receive coaching even if they are prescribed medication. Assuming that these probabilities are constant for the next 4 years, and assuming a 3%…
RISK ANALYSIS AND INTERNAL CONTROL The following describes the purchases and cash disbursements procedures for a lawn and garden supply wholesaler that uses a central computer system with distributed terminals in departments. The inventory control clerk visually reviews inventory levels from his computer terminal to identify items that need to be ordered. He then prints and sends a hard copy purchase requisition for the needed items to the purchasing agent. Based on the requisition, the purchasing agent selects a vendor and adds a digital record to the purchase order file from his terminal in the purchasing department. The clerk then prints a hard copy of the purchase order and mails it to the vendor. Finally, the purchasing agent destroys the purchase requisition, which is no longer needed since the relevant details are on the PO. When the materials arrive at the receiving department a packing slip. The clerk then manually creates a two-part hard copy receiving report. One copy of…
On the morning of October 31st, Elaine Black, Chief Information Officer at Robatelli'sPizzeria, was waiting for both Jim Saxton, database administrator, and PeterGreyton, operations manager, to come to her office for a meeting. While waiting,Elaine was thinking about the surge of telephone and Internet orders expected to bereceived through the company's customer order center within the next 12 hours.Halloween had always been the most popular day of the year for people in thegreater Pittsburgh area to order pizza from Robatelli's. There were 53 restaurantlocations to serve these customers, but only one location to receive all of the ordersand forward them to the right restaurant. Elaine's thoughts were interrupted as Jimand Peter entered her office. The following conversation took place:ELAINE Well, guys, it's here again, our biggest day of the year. Not only isHalloween a busy day, but we have the upcoming day afterThanksgiving, the week before Christmas, and Super Bowl Sunday. Canour…
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A company has the following demand data for the last three years of sales for their popular product B. There are currently 5 workers assigned to the production line, each capable of producing approximately 8 units per month. It is assumed that each month has the same number of production days. They can hire more workers at a hiring and training cost of $800 per worker. If they layoff any workers, the unemployment cost is $2,000 per worker. The product has a standard production cost (labor, material, and overhead) of $300 per unit. The extra cost to produce one unit on overtime is $50 and the maximum overtime is two units per month per worker. They can use inventory but it will cost them $25 per unit per month for any unit in inventory at the end of the month. Failure to meet market demand typically will imply the customer will buy from another supplier, and therefore cost the company $100 in profit. They currently have 0 units in inventory. a. Use the demand data to develop a forecast…
TRUE/FALSE When using a market segmentation strategy, a firm tends to lose control of costs because of the number of segments it competes in.
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