Answer:
Her nominal wage increase by: (12.48/12)-1= 0.04= 4%
Her real wage decreased by: 4% - 7$= -3%
Explanation:
Giving the following information:
Ginny currently earns a (real or nominal) wage of $12.00 per hour. Ginny and her employer both expected inflation to be 4% between 2012 and 2013, so they agreed, in a two-year contract, that she would earn $12.00 per hour in 2012 and $12.48 per hour in 2013. However, suppose inflation between 2012 and 2013 turned out to be 7%, not 4%.
Her nominal wage increase by: (12.48/12)-1= 0.04= 4%
Her real wage decreased by: 4% - 7$= -3%
Answer:
4,084
Explanation:
Calculation to determine the economic order quantity (EOQ) for Haulsee
Using this formula
Economic Order Quantity (EOQ) =((2* Annual Requirement * Cost per order)/Carrying cost per unit)^ (1/2)
Let plug in the formula
Economic Order Quantity (EOQ) = ((2*800,000*540)/(370*14%))^(1/2)
Economic Order Quantity (EOQ) = 4,084 units
Therefore the economic order quantity (EOQ) for Haulsee is 4,084 units
Answer:
A. Forecast for July = 42.
B. Forecast for August = 42.45
C. Because of seasonality in the banking industry.
Explanation:
A. Forecast for July = Forecast for June + Smoothing constant x (Forecasting error)
= 42 + 0.15 (42-42) = 42
B. Forecast for August = Forecast for July + 0.15 (Forecasting error)
= 42 + 0.15 (45-42) = 42.45
C. Because there is a great deal of seasonality in the processing requirements of banking industry, this forecasting method (exponential smoothing) might not be appropriate for this situation.
Answer:
Explanation:
Annual demand (D) = 20000 units
Number of days per year = 250
Demand rate(d) = D/number of days per year = 20000/250 = 80 units
Production rate(p) = 655 units
Set up cost(S) = $1800
Holding cost (H) = $1.50
A) Optimum run size(Q) = sqrt of {2DS / H [1-(d/p)]}
= sqrt of {(2x20000x1800) /1.50[1-(80/655)]}
= Sqrt of [7200000/1.50(1-0.1221) ]
= sqrt of [72000000/(1.50 x 0.8779)]
= sqrt of (7200000/1.31685)
= Sqrt of 5467593.1199
= 2338 units
b) Maximum inventory ( I - max) = (Q/p) (p-d) = (2338/655)(655-80) = 3.5695 x 575 = 2052.46 or rounded off to 2052 units
Average inventory = I-max/2 = 2052/2 = 1026 units
C) Number of production setups per year = D/Q = 20000/2338 = 8.55 or rounded up to 6
d) optimal length of production run = optimal run size /production rate = 2338/655 = 3.56 or rounded up to 4 days
