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4 years ago

When it comes to life insurance, premium refers to

1 answer:

5 0

Something better then basic, yes? I'm not sure I completely understand your question and therefore have answered on what I believe you are asking.

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Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins

HACTEHA [7]

Answer:

12.55 days

Explanation:

Provided information

Number of employees 2

Average production time=1.8 days

Standard deviation=2.7 days

Inter-arrival time= 1 day

Coefficient of variation= 1 day

Standard deviation of inter-arrival time= 1 day

The coefficient of variations

Inter-arrival coefficient of variation

$C_{vi}=\frac {\sigma}{T}$ where $\sigma$ is standard deviation of inter-arrival time, T is inter-arrival time and $C_v$ is coefficient of variation of inter-arrival time

$C_{vi}=\frac {1 day}{1 day}=1$

Production time coefficient of variation

$C_{vp}=\frac {2.7}{1.8}=1.5$

Total utilization time

$U=\frac {T}{n*T_i}$ where T is the time of production, n is number of employees, U is utilization, $T_i$ is inter-arrival time

$U=\frac {1.8}{2*1}=0.9$

Therefore, utilization time by 2 employees is 0.9

Expected average waiting time

$T_e=(\frac {T}{n*T_i})*0.5(C_{vi}^{2}+C_{vp}^{2})*(\frac{U^{\sqrt{2(n+1)}-1}}{1-U})$

Where $T_e$ is expected average waiting time and the other symbols as already defined

Substituting 1.5 for $C_{vp}$ , 1 for $C_{vi}$ , 0.9 for U, 2 for n, 1 for $T_i$ and 1.8 for T

$T_e=(\frac {1.8}{2*1})*0.5(1^{2}+1.5^{2})*(\frac{0.9^{\sqrt{2(2+1)}-1}}{1-0.9})$

$T_e=0.9*1.625*8.583709=12.55367 days$ and rounding off to 2 decimal places we obtain 12.55 days

Therefore, expected duration between order received and beginning of production is approximately 12.55 days

4 0

3 years ago

If a regulatory commission imposes upon a nondiscriminating natural monopoly a price that is equal to marginal cost and below av

denpristay [2]

Answer:

The correct answer is letter "D": The firm must be subsidized or it will go bankrupt.

Explanation:

A subsidy is a benefit given to an individual, business or institution, typically by the government. Subsidies are given to promote a social good or economic policy. The government usually provides subsidies in the form of cash or tax breaks, low-rate loans, and certain types of rebates.

In the example, as the commission sets the price of the monopoly products below the average total cost, it will be translated in losses. Then, a subsidy will be necessary to be provided otherwise the company will file for bankruptcy.

3 0

3 years ago

The income statement of Sheffield Corp. for 2020 included the following items: Interest revenue $137000 Salaries and wages expen

Gnoma [55]

Answer:

$133,800

Explanation:

Calculation for The cash received for interest during 2014

Using this formula

2014 Cash received for interest=Interest revenue-2014 Interest receivable+2013 Interest receivable

Let plug in the formula

2014 Cash received for interest=$137,000-$18,200+ $15,000

2014 Cash received for interest=$133,800

Therefore The cash received for interest during 2014 was:$133,800

4 0

3 years ago

Making your own decisions in a market economy also benefits the producers who make products because they __________ from your pu

Softa [21]

If this is a multiple choice question and if i get it wrong, im sorry.
I'd guess benifit? lol

7 0

3 years ago

During Bruce Company’s first year of operations, the company purchased $4,300 of supplies. At year-end, a physical count of the

seraphim [82]

Answer:

Supplies Used = $2475

Explanation:

Bruce Company

Supplies Purchases $4,300

Supplies on hand $1,825

Supplies Used = $ 4300- $ 1825 = $2475

The amount of Supplies used ( $ 4300- $ 1825 = $2475) will be shown in the income statement as an expense and the amount of unused supplies or Supplies on hand $1,825 will be shown in the Balance sheet as an asset account. The both of which will total the supplies actually purchased.

The relating adjusting entry will be

Supplies Expense $ 2475 Debit

Supplies Account $ 2475 Credit

This means the supplies of the amount $ 2475 have been used and is recorded as an expense in the income statement. It will be deducted from the gross profit. The remaining amount $ 1825 is for future use so recorded as an asset in the Balance Sheet and added to the total assets.

6 0

3 years ago