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- The director of surgery at a local hospital is interested in understanding his unit’s costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $ 1,013,000 Coefficient on procedures $ 210 Statistical data Correlation coefficient 0.553 R2 0.303 The unit is planning to perform an average 13,500 procedures per month for the coming year. Required: a. Use the regression output to write the surgical unit cost equation. b. Based on the cost equation, compute the estimated costs for the surgical unit per month for the coming year. c. The director of surgery has asked you for advice on whether he should rely on the estimate.Relevant Costs and Quality Improvement Lightening Bulk Company is a moving companyspecializing in transporting large items worldwide. The firm has an 85% on-time delivery rate.Thirteen percent of the items are misplaced and the remaining 2% are lost in shipping. On average,the firm incurs an additional $65 per item to track down and deliver misplaced items. Lost items costthe firm about $300 per item. Last year, the firm shipped 6,000 items with an average freight bill of$200 per item shipped.The firm’s manager is considering investing in a new scheduling and tracking system costing$125,000 per year. The new system is expected to reduce misplaced items to 1% and lost items to0.5%. Furthermore, the firm expects total sales to increase by 10% with the improved service. Theaverage contribution margin ratio on any increased sales volume, after cost savings associated witha reduction in misplaced and lost items, is expected to be 37.5%.Required1. Based on a relevant cost analysis, should…What is expected value of perfect information (EVPI)? What are the methods available to calculate EVPI?
- Positive Correlation Add an answer item! Answer Bank Negative Correlation Add an answer item! No Correlation Add an answer item! The number of acres of forest in a region and the amount of erosion in that region The speed at which you travel and the time needed to reach your destination The number of highly-skilled employees at a company and the amount of work that is completed in a workday The amount of moisture found in a basement and the amount of mold found in the basement The number of years you have attended school and the number of movies released this coming weekendExamine the possible cash-flow issues and operational improvement possibilities of at least two KPIs from the back end of the revenue-cycle dashboard of the chosen organization BackEndClaims will be “scrubbed” for errors using electronic scrubbing software prior to submission to a third-party payer.100%(Color: Green)98%(Color: Green)100%(Color: Green)100%(Color: Green)Denied claims are reviewed/accepted/appealed within 21 days of claims denial.62%(Color: Red)53%(Color: Red)59%(Color: Red)59%(Color: Red)Patients will be billed for any account balance within 14 days of insurance reimbursement.88%(Color: Yellow)95%(Color: Green)96%(Color: Green)95%(Color: Green)Days in accounts receivable will be less than 47 days at the end of any quarter.56 days(Color: Red)48 days(Color: Red)55 days(Color: Red)53 days(Color: RedCareforall, The mayor of sickcity, claimed that his residents are very elastic and highly sensitive when the price of preventative care changes but not so sensitive when the price of inpatient care changes. To prove her point she referred back to the RAND studies. She claimed that the results of a replicated study in her town are shown below Plan Average # of preventative care visits Average # of inpatient visits Free 3.2 0.126 25% 2.54 0.122 50% 2.10 0.118 Careforall claimed that the best solution for her city is to provide free health care for all. The insurance companies replied that they will not be able to provide such a service. As a health adviser, you need to draft a proposal where…
- A regional distributor purchases discontinued appliances from various suppliers andthen sells them on demand to retailers in the region. The distributor operates 5 daysper week, 52 weeks per year. Only when it is open for business can orders bereceived. The following data are estimated for the mixer:Average daily demand (d) = 100 mixersStandard deviation of daily demand (d) = 30 mixersLead time (L) = 3 daysHolding cost (H) = $9.40/unit/yearOrdering cost (S) = $35/order Cycle-service level = 92 percentSuppose that a periodic review (P) system is used at the distributor. Step 1 : Calculate the P (in workdays, rounded to the nearest day) that givesapproximately the same number of orders per year as the EOQ.A regional distributor purchases discontinued appliances from various suppliers andthen sells them on demand to retailers in the region. The distributor operates 5 daysper week, 52 weeks per year. Only when it is open for business can orders bereceived. The following data are estimated for the mixer:Average daily demand (d) = 100 mixersStandard deviation of daily demand (d) = 30 mixersLead time (L) = 3 daysHolding cost (H) = $9.40/unit/yearOrdering cost (S) = $35/order 4 Cycle-service level = 92 percentSuppose that a periodic review (P) system is used at the distributor.a) Calculate the P (in workdays, rounded to the nearest day) that givesapproximately the same number of orders per year as the EOQ.b) It is time to review the item. On-hand inventory is 40 mixers; receipt of 440mixers is scheduled, and no backorders exist. How much should bereordered?c) What is the target inventory level, T?d) What is the total annual cost of the P system?Following are the uses of CVP analysis except? Analyse cash flows Analysing margin of safety Deciding on selling price for a product Estimating future profits Plz select correct answer without explanation
- "Standard tickets for Beyonce’s Renaissance tour went on sale in the UK for a price of£56 in February 2023. Many fans complained about receiving constant errormessages and being stuck in long on-line queues of more than 500,000 people. Inresponse to these negative comments a spokesperson for Ticketmaster, thecompany in charge of selling the tickets, stated that: ‘There was never going to be enough tickets to meet demand’"What are the potential implications of the statement by the Ticketmaster spokesperson that "there was never going to be enough tickets to meet demand" for the allocation of resources and the efficiency of the market? (Include diagram)Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion?Integrated Products Corporation (IPC) needs to estimate its PC sales for next year.The most recent six years of revenue data for the company’s line of XT PersonalComputers, and those of the industry, is found in the table below:Year XT PC Sales Revenue($’000,000)All Industry PC Sales Revenue($’000,000,000)1 2.4 4.62 5.9 8.63 15.5 10.74 27.8 14.85 35.9 18.56 38.1 19.4Required:A. Assuming that the sales data above are representative of sales expected nextyear, use time series regression analysis to forecast next year’s sales revenues(there is no seasonal effect).B. Perform a regression analysis between the annual sales revenues of XTPersonal Computers and all industry PC annual sales revenues. What is theforecast for next year’s sales revenue for XT Personal Computers if the estimateof next year’s industry PC sales revenues is $21.9 billion? C. Advise management at Integrated Products Corporation (IPC) which of the twosales estimates from parts A and B above they should use. Justify your…