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nikitadnepr [17]
1 year ago
8

The local supermarket buys lettuce each day to ensure really fresh produce. Each morning any lettuce that is left from the previ

ous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week the supermarket can buy fresh lettuce for $9.00 a box. The lettuce is sold for $17.00 a box and the dealer that sells old lettuce is willing to pay $5.00 a box. Past history says that tomorrow's demand for lettuce averages 258 boxes with a standard deviation of 41 boxes.
Required:
How many boxes of lettuce should the supermarket purchase tomorrow?
Business
1 answer:
Alexxx [7]1 year ago
6 0

Answer:

276 boxes

Explanation:

Given the following :

Cost price of lettuce = $9

Selling price of lettuce = $17

Selling price of old lettuce (Salvage value) =$5

Mean demand (m) = 258

Standard deviation(σ) = 41

The marginal profit = selling price - cost price

Marginal profit = $(17 - 9) = $8

Marginal loss ; old lettuce : cost price - salvage value $(9 - 5) = $4

Probability (p) = marginal profit /(marginal profit + marginal loss)

P = 8 / (8 + 4) ; 8 / 12 = 0.667

Using the InvNorm function of the T84 calculator :

InvNorm(prob, mean, standard deviation)

InvNorm(0.667, 258, 41) = 275.697 = 276 boxes

Number of lettuce boxes supermarket should purchase tomorrow = 276 boxes

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Halverstein Company's outstanding stock consists of 8,050 shares of cumulative 5% preferred stock with a $10 par value and 3,450
Licemer1 [7]

Answer:

$6,900 to preference shareholders

Explanation:

The computation of the amount of dividends paid to preferred and common shareholders in Year 2 is shown below:

The Preference dividend is

= 8,050 shares × $10 × 5%

= $4,025

And, since the preference dividend is cumulative plus the in year 1 there is no dividend paid and in year 2 the dividend amount given is $6,900

But the total value is

= $4,025 + $4,025

= $8,050

So the total amount i.e $6,900 is paid to preferred shareholders only

3 0
1 year ago
Brainstorm common items that you think consumers pay too much for or that you think are overpriced (i.e. movie theater popcorn,
lina2011 [118]

Answer:

I took some work home because I had to meet an important deadline the next morning. If I am able to finish the work on time and do it correctly, then there is a chance of getting either a promotion or a pay raise. If I cannot complete it on time, I will not get fired, but any chances of a promotion or pay raise in the near will vanish.

Since I was working at home, I couldn't prepare anything for dinner, so I decided to buy food on a website and get it delivered home. I spent $20 on my dinner, even though I could have prepared a similar dinner for $5.

I was willing to pay for the expensive meal because the opportunity cost of preparing dinner instead was too high. I can afford to pay $15 more for eating, but I cannot afford to lose the opportunity of a promotion or a pay raise. Even if I do not get them immediately, not completing my job would have made it much harder to get it in the future.

My decision is rational because I was sacrificing a small amount of money in order to preserve something that is really valuable for me (promotion or pay raise).

All resources are scarce, and in this case, time was scarce. So I had to decide which action was more valuable and which action could yield a higher benefit.

8 0
2 years ago
(lavilla) lavilla is a village in the italian alps. given its enormous popularity among swiss, german, austrian, and italian ski
bonufazy [111]

The answer is <u>"120 skiers per day".</u>

On average, 1,200 skiers in the village

On average, skiers stay in lavilla for 10 days

how many new skiers are arriving = ?

Applying Little's Law,

Flow Rate = Inventory / Flow Time

= 1200 skiers / 10 days

= 120 skiers per day


4 0
1 year ago
Which statement best describes the current price for the good shown in this
Marina86 [1]

Answer:

The Current price will result in a low supply for the good.

Explanation:

5 0
1 year ago
MegaRock produces quick setting concrete mix. Production of 200,000 tons was started in April, 190,000 tons were completed. Mate
Paha777 [63]

Answer:

A. $3,610,000

Explanation:

The Equivalent production = 190,000 + [70% × (200,000 - 190,000)] = 197,000 tons.

While the Cost per unit = ($3,152,000 + $591,000)/197,000 = $19;

the transferred costs = 190,000 × $19 = $3,610,000

= $3,610,000 which is the final answer.

4 0
2 years ago
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