M1 Suppose the Government is considering removing the principle of community rating in setting insurancepremiums and allowing private health insurance to set risk-adjusted premiums. Explain the likely implications ofthis change, particularly for different risk groups (e.g. consider the implications for people who are at (i) high riskof falling ill and (ii) who are at low risk of falling ill). How will the change impact the incentives faced by privatehealth insurers, and how would you expect it to affect their behaviour?

Insurance is the aspect of the contract or agreement that is a policy being signed between parties…

Answered: Suppose the Government is considering…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question THREE: Suppose you are given a set of data for output at a company which manufactures detergents over a period of time. You have determined a relation between total operating cost and the quantity produced and is given by the linear regression model as follows: TC=20,000+2,500Q, where TC=Total Operating Cost (in $) per annum and Q = Quantity produced per annum Required: i. Determine the total operating cost in the event that quantity of production is at 4,500, 12,500 and 7,000units. ii. What do you think would be your reservations in relaying on the linear regression model for budgetary planning purposes?
Q.2 AI Muhannad Industrial and Domestic Services, Oman requires on average 4000 sheets of A4 size papers per day at its different office locations in Muscat. Each time the purchase manager orders centrally the A4 size papers, the total expenses incurred to the company are estimated to be 10.6 OMR per order. Presently the company orders 350 reams of papers per order at a flat rate of 2.1 OMR per ream (one ream contains 500 A4 size papers). It takes almost a day for the local supplier to deliver the order. Considering the overall cost of the inventory and the manpower involved, the annual carrying costs for the company is estimated to be 35% of the cost for each ream of the paper. The company operates on 5 days a week over 46 weeks per year. (i) Is the present purchase policy economical for the company? If not, guide the purchase manager in selecting the best economical policy in terms of expected number of orders annually, ordered quantity per order, reorder point and the expected time…
QUESTION 1 Kofi Kwakye is a 17-year old final year Senior High student from a wealthy home. His academic life had been quite eventful, as he had been part of the top 10 students in his class and had dropped to be part of the last 10 students during the past school term. On 28th May 2022, in the heat of the preparation towards the final examination, Kofi Kwakye took exeat from school to acquire some "provisions" to enable him cope during the final exam period, which was three months ahead. He entered a shop in Accra and, instead of focusing on the "provisions", he purchasee the following items: Microsoft Xbox, the latest iPhone, and a three-piece suit by Pierre Cardin. Kofi Kwakye did not have enough money to pay for all the items at once. He, therefore, agreed with the shop owner, Mr. Ametepe, to pay the outstanding amount owed in five instalments. However, after paying the first instalment, Kofi Kwakye fell into arrears. The two parties then entered into another arrangement under…
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● ● In order to drum up business, Ms. Smith purchased seasons tickets for both the Senators and the Redblacks. Should Redblacks tickets be expensed? Yes or No Should Senators tickets be expensed? Yes or No ● The cost for the Senators tickets (2) for $1,500 each. Ms. Smith will take a client to every hockey game; she has not missed a game in over five years. The cost for the Redblacks tickets (4) for $350 each. The same goes for the Redblacks, she hasn't missed a game either and it's a family tradition for her, her spouse and their two nieces to attend the games together. Ms. Smith pays $75 a month for a storage locker that she has had for over 3 years. Everything in the storage locker was bequeathed to her from her great uncle. She has no use for the items, but she can't seem to let them go. Should storgae locker fee be claimed? If yes, how much Ms. Smith has a business bank account and the monthly banking fees associated with this account are $5 a month. ● Should banking fees be…
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8
The design, operation, and improvement of the systems that create and deliver the firm's primary products and services. Question 7 options: True False

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