Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Textbook Question
Chapter 15, Problem 24P
Translate the following monetary payoffs into utilities for a decision maker whose utility
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Use the below table to calculate the amount of federal income tax that Ken should report if
he earned a faxable income of $54,187 in 2020?
Federal Tax Rates for 2020
13% on the first $42,854 of taxable income, plus
17.5% on the next $45,872 of taxable income, plus
25% on the next $49,465 of taxable income, plus
28% on any further taxable income
Income tax = $
%D
Use the below table to calculate the amount of federal income tax that Guadalupe should
report if she earned a taxable income of $74,157 in 2020?
Federal Tax Rates for 2020
12.5% on the first $43,719 of taxable income, plus
17.5% on the next $45,150 of taxable income, plus
27% on the next $49,396 of taxable income, plus
31% on any further taxable income
Income tax = $
A manufacturer of ovens sells them for $1,510.00 each. The variable costs are $1,030.00 per unit. The manufacturer's factory has annual fixed costs of $2,130,000.00.
Given the expected sales volume of 3,600 units for this year, what will be this year's net income?
Round to two decimal places
Chapter 15 Solutions
Essentials of Business Analytics (MindTap Course List)
Ch. 15 - Prob. 1PCh. 15 - Southland Corporation’s decision to produce a new...Ch. 15 - Amy Lloyd is interested in leasing a new Honda and...Ch. 15 - Investment advisors estimated the stock market...Ch. 15 - Hudson Corporation is considering three options...Ch. 15 - Prob. 6PCh. 15 - Myrtle Air Express decided to offer direct service...Ch. 15 - Video Tech is considering marketing one of two new...Ch. 15 - Seneca Hill Winery recently purchased land for the...Ch. 15 - Hemmingway, Inc. is considering a $5 million...
Ch. 15 - The following profit payoff table was presented in...Ch. 15 - Suppose that you are given a decision situation...Ch. 15 - A firm has three investment alternatives. Payoffs...Ch. 15 - Alexander Industries is considering purchasing an...Ch. 15 - In a certain state lottery, a lottery ticket costs...Ch. 15 - Three decision makers have assessed utilities for...Ch. 15 - In Problem 22, if P(s1) = 0.25, P(s2) = 0.50, and...Ch. 15 - Translate the following monetary payoffs into...Ch. 15 - Consider a decision maker who is comfortable with...
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- Suppose a person has a total credit card debt of $600 that has a 18% yearly interest rate. This person also has a savings account with $1,500 that pays 3% interest per year. Despite the net loss, the person keeps both. Calculate how many times the person appreciates the $1 of savings more than $1 of credit card debt if the person relates similarly to both values of percent paid and received. Enter your answer in the box below and round to two decimal places if necessary.arrow_forwardA product costing $350, less 30%, 20%, and 10%, sells to allow for overhead expenses of 30% of the selling price and profit of 20% of the selling price. During a sale, the product is marked down by 40%. What is the sale price?arrow_forwardGive an example of a nominal variable for people in recovery for substance abusearrow_forward
- Leslie's monthly income is $1,871.04 and has fixed expenses of $912.46. Leslie treats her roommates to salads and pizzas from Papa Antonio’s every Monday and Thursday, at a cost of $30, including delivery and tip. What percentage of her budget after fixed expenses goes toward these semiweekly gatherings on average?arrow_forwardWhere did you get the $1,000 on the daily demand (trail value)arrow_forwardIn a given year, the U.S. federal income tax owed by a married couple filing jointly can be found from the following table. Married Filing Jointly Taxable Income $0-$18,550 T(x) = $18,551-$75,300 $75,301-$151,900 amount over $75,300 $413,351-$466,950 Tax Rate 10% $1,855 plus 15% of the amount over $18,550 $10,367.50 plus 25% of the $151,901-$231,450 amount over $151,900 $466,951 or more if $29,517.50 plus 28% of the $231,451-$413,350 amount over $231,450 $51,791.50 plus 33% of the $130,578.50 plus 39.6% of the amount over $466,950 (a) For incomes up to $151,900, write the piecewise defined function T with input x that models the federal tax dollars due as a function of x, the taxable income dollars earned. $111,818.50 plus 35% of the amount over $413,350 0 < x≤ 18,550 if 18,550 < x≤ 75,300 if 75,300 < x≤ 151,900 (b) Use the function to find T(40,000). $ (c) Find the tax due on a taxable inco of $90,000. $ (d) A friend tells Jack Waddell not to earn any money over $75,300 because it…arrow_forward
- Suppose a person lost $17 and won 18 in the same day. What will be the net loss perceived by the person, according to behavioral economics? Assume that a $1 loss pains us 2.25 times more than a $1 gain helps. Enter your answer as a positive number in the box and round to two decimal places if necessary.arrow_forwardIn the 1997, rice was selling at Rs. 6 per kg, cloth at Rs. 20 per metre, housing at Rs. 500 per quarter, other items at Rs. 20 per unit. In 1998, the price of rice rose by Rs. 2 per kg., housing by Rs. 300 per quarters and other items doubled in price. If the consumer price index number for 1998 (with 1997 as base) is 180, by how much the cloth rose in price during the year.arrow_forwardThe fixed costs incurred by a small genetics research lab are $200,000 per year. Variable costs are 60% of the annual revenue. If annual revenue is $300,000, determine the annual profit (loss).arrow_forward
- J.W. Electronics sells one of its 27-inch screen TV’s for $300. The fixed cost for producing this type of TV is $125 000. The variable cost per unit is $175 d. How many more TVs (% increase) must J.W. Electronics sell to make a profit of $62,500 if it decides to reduce its sales price to $275? Show your calculations. Only list the incremental % increase in the final input cell. e. Assume that J.W. Electronics decides to reduce its selling price to $275, but that one of its suppliers then increases the cost of the glass to make TV screens by $10 per TV. More bad news: the landlord increases the rent for J.W.’s office space by $5,000. Based on these two developments, what is the company’s new break-even point in units? Show your calculations.arrow_forwardSuppose that a computer store just announced an 5% decrease in the price of a particular computer model. If this computer sells for $1,927 after the decrease, find the original price of this computer.arrow_forwardDuring a period of decline in stock market prices a stock sold at $. 50 per share on one day $. 40 on the next day and $. 25 on the third. (i) If an investor bought 100, 120 and 180 shares on the respective three days, find the average price paid per share. (ii) If the investor bought $. 1000 worth of shares on each of the three days, find the average price paid per share.arrow_forward
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