CURRENT OBJECTIVESolve an application problem by applying Polya's four step procedureQuestionA family is visiting 5 states within 10 days for vacation. There are 4 people in the family. They havethe option to travel 304 miles on the first day and visit 1 national park and 2 lakes. Or they cantravel 260 miles to see a water park and an amusement park that each costs $5 per park perperson for all ages. The national park costs $25 per vehicle and the 2 lakes are free. The next 3days, they travel 284 miles and relaxed by the pool. The family vehicle can go 300 miles on a tankof gas worth $40. The last 4 days, they spend driving the same route back home and stopping atpopular sightseeing landmarks.On the first day, how much does the cheaper route cost? Round your answer to the nearest centand do not include $ in the answer. For example, if the cost is $19.01, put 19.01.Provide your answer below:

The CHeaper route can be found out by using the unitary method to calculate the costs associated…

Answered: Question A family is visiting 5 states…

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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Preliminary plans are under way for the construction of a new stadium for a major league baseball team. City officials have questioned the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. Corporations and selected individuals may buy the boxes for $320,000 each. The fixed construction cost for the upper deck area is estimated to be $5,760,000, with a variable cost of $160,000 for each box constructed. (a) What is the break-even point for the number of luxury boxes in the new stadium? X = (b) Preliminary drawings for the stadium show that space is available for the construction of up to 48 luxury boxes. Promoters indicate that buyers are available and that all 48 could be sold if constructed. (1) What is your recommendation concerning the construction of luxury boxes? O Build the luxury boxes. O Do not build the luxury boxes. (ii) What profit is anticipated (in dollars)? (Enter a negative value if a predicted loss.) $
BUS 038 : Business Computations4. You buy goods on an invoice dated October 28, with terms of 2/20, n/45. What is the last day of the discount period? 5. You buy goods at a list price of $820. If you receive a trade discount of 25% and terms are “2/15, n/30,” what amount must you pay if you pay within the discount period? 6. You receive an invoice for $18,300 with terms of 5/15, n/60. If the supplier has a policy of allowing a cash discount for partial payments and you pay $11,500 within the discount period, calculate the amount of credit you will receive for this payment. Amount credited = Amount paid Complement of cash discount rate = $11,500
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Scenario analysis allows a firm to ask what - if type questions in capital budgeting. Question 22Select one: True False
Are my formulas correct and did I get the correct answer? Question: Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 220,000 pounds of grade 6 oranges and 150,000 pounds of grade 9 oranges on hand. The aver- age quality of oranges sold in bags must be at least 7, and the average quality of the oranges used to produce orange juice must be at least 8. Each pound of oranges that is used for juice yields a revenue of $2.25 and in- curs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.35. Each pound of oranges sold in bags yields a revenue of $2.00 and incurs a variable cost of $1.20. a. Determine how Sunblessed can maximize its profit.
An oil company must decide whether or not to drill an oil well in a particular area that they already own. The decision maker (DM) believes that the area could be dry, reasonably good or a bonanza. See data in the table which shows the gross revenues for the oil well that is found. Decision Drill $0 Abandon $0 Probability 0.3 Dry (D) Seismic Results No structure(N) Open(0) Closed (C) Drilling costs 40M. The company can take a series of seismic soundings (at a cost of 12M) to determine the underlying geological structure. The results will be either "no structure", "open structure or "closed structure". The reliability of the testing company is as follows that is, this reflects their historical performance. Reasonably good(G) $85 $0 0.3 Note that if the test result is "no structure" the company can sell the land to a developer for 50 m. otherwise (for the other results) it can abandon the drilling idea at no benefit to itself. Dry(d) 0.7 0.2 Bonanza(B) 0.1 $200 m SO 0.4 Conditional…
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PROBLEM 8 Jim Huang and Roderick Wheeler were sales representatives in a computer store at a shopping mall in Arlington, Virginia, when they got the idea of going into business in the burgeoning and highly competitive microcomputer market. Jim went to Taiwan over the summer to visit relatives and made a contact with a new firm producing display monitors for microcomputers, which was looking for an East Coast distributor in America. Jim made a tentative deal with the firm to supply a maximum of 500 monitors per month and called Rod to see if he could find a building they could operate out of and some potential customers. Rod went to work. The first thing he did was send bids to several universities in Maryland, Virginia, and Pennsylvania for contracts as an authorized vendor for monitors at the schools. Next, he started looking for a facility to operate from. Jim and his operation would provide minor physical modifications to the monitors, including some labeling,…

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