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Oksana_A
1 month ago
11

A bank manager wants to learn more about the relationship between the time a customer has to wait to be served and the overall s

atisfaction with the bank's service. He measures waiting time for a sample of 7 randomly selected customers, and then asked them to answer a survey to find an overall satisfaction score. The results are shown below. Wait time (seconds): 35 80 15 140 100 86 375 Satisfaction score: 69 38 70 82 84 52 37 Find the sample correlation coefficient between satisfaction score and wait time. Give your answer to 3 decimal places.
Business
1 answer:
Nady [3.6K]1 month ago
5 0
The bank possesses funds.
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A production line engineer, Shane, checks every chip for quality control (QC). His workers find errors approximately every 150 c
Mariulka [3825]

Answer:

The query lacks completeness:

The production line yields 100,000 chips annually.

All chips are sold.

The production cost for each chip is roughly $9.00.

Testing each chip incurs about $4.00.

Repairing a chip, including labor and materials, is around $2.00.

This repair expense covers the re-testing.

Post-testing profit for each chip is $0.25.

Shane manages a team of fifteen full-time employees.

Under Shane's oversight, there are also two part-time workers.

The manager overseeing Shane has been with the organization for nearly 7 years.

Shane has maintained a good rapport with Rob, his manager, for several years.

The inquiries are as follows:

1. What percentage of the chips might be defective if Xanthum, Inc. orders 15,000 chips from Shane's line?

  • There is one defect in every 150 chips, so the percentage of defective chips = (1 / 150) x 100 = 0.667%.
  • Thus, for an order of 15,000 chips from Xanthum, approximately 100 will likely be flawed.

2. Is this failure rate acceptable? Considering it from Xanthum’s point of view? And from the manufacturer’s perspective? Why or why not?

  • From Xanthum's viewpoint, no level of defects is acceptable. I would return the defective chips and most likely cease future purchases. If the chips are used in further manufacturing, any defective ones could harm the product's reputation and lead to financial losses.
  • From the manufacturer's angle, this rate is tolerable since 99.333% of the chips are fine. The real issue isn't the minuscule failure rate, but rather the lack of action taken regarding it.

3. Considering Shane's line produces 100,000 chips each year, what are the costs for:

a) Testing and repairing each chip?

  • Testing all chips will cost 100,000 x $4 = $400,000.
  • Repair expenses = (100,000 x 0.667%) x $2 = $1,333.33.

b) Testing all chips and discarding the defective ones?

  • Testing all chips will cost 100,000 x $4 = $400,000.
  • Costs due to discarded chips = 667 chips x ($9 + $4) = $8,671.

c) Testing no chips and replacing customers’ chips as required?

  • If no chips are tested, the testing expense is $0.
  • The number of defective chips returned could be from 0 to 667. If 0 are returned, the replacement cost is $0. When 667 chips are returned, the replacement costs come to (667 x $9) + lost profit from the replaced chips = $6,003 + [667 x ($4 + $2 + $0.25)] = $6,003 + $4,168.75 = $10,171.75 plus any additional costs for replacements.

4. Is Rob’s assessment reasonable? What about his claim that it saves money to not discard defective chips?

  • Since the expense of replacing flawed chips is significantly less than repairing and testing them, Rob is justified in saying that not repairing leads to greater profits. However, he fails to account for how selling faulty chips impacts the company’s sales. As mentioned in question 2, if I were a client, I would no longer buy chips from Rob’s company due to their defects. The costs associated with defective products can lead to lawsuits and damage the brand’s reputation. Rob is focusing on production costs without considering other potential repercussions. For instance, if Xanthum produces medical equipment using faulty chips that result in failures, they could be sued by clients, and Rob’s company would face similar legal challenges.
5 0
2 months ago
Coronado Industries is planning to sell 900 boxes of ceramic tile, with production estimated at 470 boxes during May. Each box o
Nady [3600]
The total amount in pounds is 19,880. Given the following data: Production equals 470 boxes, with each tile box requiring 44 pounds of clay mix. Starting inventory is 4,700 pounds, and the desired ending inventory is 3,900 pounds. To find the required direct material purchase, we apply this formula: Purchases = Production + Desired Ending Inventory - Beginning Inventory. The direct material budget (in pounds) is: Production: 470 times 44 equals 20,680; Desired Ending Inventory: 3,900; Beginning Inventory: 4,700. Thus, the total pounds required equal 19,880.
5 0
1 month ago
Lopez Sales Company had the following balances in its accounts on January 1, 2018: Cash$68,000 Merchandise Inventory 48,000 Land
soldi70 [3635]

Answer:

Lopez Sales Company

1. The gross margin recorded by Lopez is as follows:

Sales total = $81,600

Deducting cost of sales = $38,400

Gross Margin = $43,200

2. The gain on the land sale recognized by Lopez amounts to:

Land details:

Selling price = $81,000

less cost = $43,200

Gain on sale = $37,800

Explanation:

a) The gross margin represents the difference between the selling price and the cost price of a good. It indicates profit prior to accounting for operational expenses to determine net income or margin.

It gauges whether the business can generate sufficient income to meet typical operating costs such as rent, utilities, and employee wages.

b) The gain from the sale of any capital asset is the difference between the selling price and the book value (cost). Such a gain is separately presented in the income statement and may be subject to capital gains tax.

4 0
2 months ago
In a state of market equilibrium, the intrinsic value of the stock will be the market price of the stock. An analyst with a lead
Katen [3525]

Respuesta:

sobrevalorado

Explicación:

El valor esperado de la acción está por debajo de su precio en el mercado actual.

Esto indica que se anticipa que las ganancias y dividendos de la compañía disminuyan en los próximos meses. Es posible que otras acciones parezcan más rentables, lo cual haría descender el precio de esta acción:

Esto puede suceder porque la relación precio-beneficio de esta acción (multiplicado por las ganancias por acción pagadas) es mayor que otras acciones. Los inversionistas se desplazarán de una acción con un P/E de 20 a otra con un P/E del % ya que su retorno será mayor.

6 0
2 months ago
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