Business and Finance Homework

Need finance homework help? Ask an Expert

Ask an Expert,
Get an Answer ASAP!

DUE IN EXCEL, SAME LEVEL OF DEPTH AND AT DUE THURSDAY @9PM…

Customer Question
DUE IN EXCEL, SAME LEVEL...
DUE IN EXCEL, SAME LEVEL OF DEPTH AND AT DUE THURSDAY @9PM
1. The postal employee scheduling example is called a static scheduling model because we assume that the post office faces the same situation each week. In reality, demands change over time, workers take vacations in the summer, and so on, so the post office does not face the same situation each week. A dynamic scheduling model (not covered) is necessary for such problems.
2. In the Barney-Jones investment model, increase the maximum amount allowed in any investment to $150,000. Then run a one-way sensitivity analysis to the money market rate in cash. Capture one output variable: the maximum amount of cash ever put in the money market. You can choose any reasonable range for varying the money market rate.
3. A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year; the bus company must decide how many drivers to hire or fire. It costs It costs $4000 to hire a driver and $2000 to fire a driver. A driver’s salary is $10,000 per year. At the beginning of year 1, the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year’s requirement and is paid full salary for the current year.
a. Determine how to minimize the bus company’s salary, hiring, and firing costs over the next five years.
b. Use SolverTable to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase by the same percentage.
4. During each four-hour period, the Smalltown police force requires the following number of on-duty police officers: eight from midnight to 4AM; seven from 4AMto 8AM; six from 8AMto noon; six from noon to 4PM; five from 4PM to 8PM; and four from 8PM to midnight. Each police officer works two consecutive four-hour shifts.
a. Determine how to minimize the number of police officers needed to meet Smalltown’s daily requirements.
b. Use Solvertable to see how the number of police officers changes as the number of officers needed from midnight to 4AM changes.
5. A chemical company produces three products, A,B,and C, and can sell these products in unlimited quantities at the following unit prices: A, $10; B, $55; C,$100. Producing a unit of A requires one hour of labor; a unit of B, two hours of labor plus two units of A; and a unit of C, three hours of labor plus one unit of B. Any A that is used to produce B cannot be sold. Similarly, any B that is used to produce C cannot be sold. A total of 4000 hours of labor is available. Only as many as 500 units of product C can be sold. Determine how to maximize the company’s revenue?
6. Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 100,000 pounds of grade 9 oranges and 120,000 pounds of grade 6 oranges on hands. The average quality of oranges sold in bags must be at least 7, and the average quality of oranges used to produce orange juice must be 8. Each pound of oranges that is used for juice yields a revenue of $1.50 and incurs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.05. Each pound of oranges sold in bags yields a revenue of $1.50 and incurs a variable cost of $0.70.
a. Determine how Sunblessed can maximize its profit.
b. Use SolverTable to determine how a change in the cost per bag of oranges changes the optimal solution.
c. Use SolverTable to determine how a change in the amount of grade 9 oranges available affects the optimal solution.
d. Use SolverTable to determine how a change in the required average quality required for juice changes the optimal solution.
Submitted: 2 years ago.Category: Business and Finance Homework
Show More
Show Less
Ask Your Own Business and Finance Homework Question
Answered in 13 hours by:
2/21/2016
Business Tutor: F. Naz, Bachelor's Degree replied 2 years ago
F. Naz
F. Naz, Bachelor's Degree
Category: Business and Finance Homework
Satisfied Customers: 5,492
Experience: Have completed B.COM and CA Finalist
Verified

I am not sure that I will be able to use solver table, but can solve it other way, please confirm, thanks.

Ask Your Own Business and Finance Homework Question
Customer reply replied 2 years ago
F.Naz - The professor requires we utilize SolverTable and check our Excel spreadsheet to see if we utilize the current functions. Therefore, if cannot utilize SolverTable we may need to forward this to another tutor and ask for their assistance and I will send you another assignment to work on. I just posted an accounting assignment a minute ago - if interested.
Customer reply replied 2 years ago
Please forward to Mr. Glenn - I'll see if he can work on this with SolverTable and accommodate the deadline...
Customer reply replied 2 years ago
Please repost the question; I attempted and I would have to resubmit payment; however, I have already paid and you are unable to complete the problems and it needs to be transferred to another tutor for completion. Therefore, Please post at your earliest convenience because I cannot repost from my end or transfer to another tutor.DUE IN EXCEL, SAME LEVEL OF DEPTH AND AT DUE THURSDAY @9PM1. The postal employee scheduling example is called a static scheduling model because we assume that the post office faces the same situation each week. In reality, demands change over time, workerstake vacations in the summer, and so on, so the post office does not face the same situation each week. A dynamic scheduling model (not covered) is necessary for such problems.
2. In the Barney-Jones investment model, increase the maximum amount allowed in any investment to $150,000. Then run a one-way sensitivity analysis to the money market rate in cash. Capture one output variable: the maximum amount of cash ever put in the money market. You can choose any reasonable range for varying the money market rate.
3. A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year; the bus company must decide how many drivers to hire or fire. It costs It costs $4000 to hire a driver and $2000 to fire a driver. A driver’s salary is $10,000 per year. At the beginning of year 1, the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year’s requirement and is paid full salary for the current year.
a. Determine how to minimize the bus company’s salary, hiring, and firing costs over the next five years.
b. Use SolverTable to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase by the same percentage.
4. During each four-hour period, the Smalltown police force requires the following number of on-duty police officers: eight from midnight to 4AM; seven from 4AMto 8AM; six from 8AMto noon; six from noon to 4PM; five from 4PM to 8PM; and four from 8PM to midnight. Each police officer works two consecutive four-hour shifts.
a. Determine how to minimize the number of police officers needed to meet Smalltown’s daily requirements.
b. Use Solvertable to see how the number of police officers changes as the number of officers needed from midnight to 4AM changes.
5. A chemical company produces three products, A,B,and C, and can sell these products in unlimited quantities at the following unit prices: A, $10; B, $55; C,$100. Producing a unit of A requires one hour of labor; a unit of B, two hours of labor plus two units of A; and a unit of C, three hours of labor plus one unit of B. Any A that is used to produce B cannot be sold. Similarly, any B that is used to produce C cannot be sold. A total of 4000 hours of labor is available. Only as many as 500 units of product C can be sold. Determine how to maximize the company’s revenue?
6. Sunblessed Juice Company sells bags of oranges and cartons of orange juice. Sunblessed grades oranges on a scale of 1 (poor) to 10 (excellent). At present, Sunblessed has 100,000 pounds of grade 9 oranges and 120,000 pounds of grade 6 oranges on hands. The average quality of oranges sold in bags must be at least 7, and the average quality of oranges used to produce orange juice must be 8. Each pound of oranges that is used for juice yields a revenue of $1.50 and incurs a variable cost (consisting of labor costs, variable overhead costs, inventory costs, and so on) of $1.05. Each pound of oranges sold in bags yields a revenue of $1.50 and incurs a variable cost of $0.70.
a. Determine how Sunblessed can maximize its profit.
b. Use SolverTable to determine how a change in the cost per bag of oranges changes the optimal solution.
c. Use SolverTable to determine how a change in the amount of grade 9 oranges available affects the optimal solution.
d. Use SolverTable to determine how a change in the required average quality required for juice changes the optimal solution.
Business Tutor: F. Naz, Bachelor's Degree replied 2 years ago

I am not sure the use of solver table, however, it may be done without using solver table as well, please confirm, thanks.

Ask Your Own Business and Finance Homework Question
Customer reply replied 2 years ago
I cannot submit to my Professor without SolverTabler; as a result, please refer to another business tutor. Also, please review other homework submission/question it is incomplete was suppose to utilize M/M/s model and will need you to review and complete or refer to another tutor because the deadline is tomorrow and sample work of what it was suppose to look like was posted in conversation feed...please follow-up
Business Tutor: F. Naz, Bachelor's Degree replied 2 years ago

Opting out so other expert may help you, take care.

Ask Your Own Business and Finance Homework Question
Customer reply replied 2 years ago
Thank You...
Customer reply replied 2 years ago
Good AM! F. Naz - will you please remove your name from the top of the questions so another tutor will get the question - time is passing and no one has picked the question up yet....
Customer reply replied 2 years ago
I still have not received a tutor. Please give me a full refund. I will repost.
Customer reply replied 2 years ago
Please disregard this question and give me a full refund. I have paid the fee and reposted the question for another tutor.Thank you.
Business Tutor: Angela--Mod,
 replied 2 years ago
Angela--Mod
Category: Business and Finance Homework
Satisfied Customers: 8
Verified
Hello, I am a moderator for this topic. There is no need to post duplicate questions, this page is open to all the Experts for this topic and marked high priority. I have sent a message to your requested Expert, Mr. Glenn to reply to you here if he can assist. Thank you for your patience while we search for an Expert to assist you.
Best,
Angela-Moderator
Ask Your Own Business and Finance Homework Question
Customer reply replied 2 years ago
I am new to Just answer. I have already posted the question again and paid again. Therefore, my apologies and simply refund in full.
Customer reply replied 2 years ago
OK...I just don't want for people to skip over me because I placed F. Naz at the top of the page. I see you closed the other question and my card was allegedly not charged. I really need these questions answered.
Customer reply replied 2 years ago
SolverTable Add-in: Each version below has a corresponding Help file (a Word file) that you should read before contacting me about problems. Each zip file below contains only two files: the .xla or .xlam add-in file and the Word help file. You should unzip both to the same folder and then read the help file for more instructions.o For Solver that ships with Excel 2016: SolverTable 2016.zip1. This version is basically the same as the 2013 version.o For Solver that ships with Excel 2013: SolverTable 2013.zip, SolverTable.xlam1. This version wasn’t created because SolverTable 2010 wouldn’t work with Excel 2013. Rather, I made some technical changes in the software. Probably the main change is that this version now starts each Solver run from the original solution in the decision variable cells. (In previous versions, it started each Solver run from the previous Solver solution.)2. Modified on 10/5/2015 to open the Help file in a simpler manner (less possibility of an error occurring).o For Solver that ships with Excel 2010: SolverTable 2010.zip1. Modified on 10/5/2015 to open the Help file in a simpler manner (less possibility of an error occurring).2. Modified on 4/26/2012 to fix a problem with long worksheet names. Basically, Excel allows worksheet names to be no longer than 31 characters. SolverTable creates a hidden sheet with its settings, and the name of the sheet is the model sheet name plus the suffix “_STS”. So if the name of your model sheet has from 28 to 31 characters, this would create an error. SolverTable now warns you before the error occurs.3. Modified on 12/5/2011 to fix a potential sheet-naming problem.4. Modified on 11/8/2011 to fix a potential problem where a user mistakenly selects the Simplex LP method on a nonlinear model. The previous code could get into an infinite loop in this case. A similar fix was made (see below) to the 2007 and 2003 versions. However, this 2010 version might not work correctly in 2007 or 2003 because of a subtle code change Frontline Systems made in its 2010 version of Solver.5. Modified on 10/7/2010 to fix a bug that occurred when a user mistakenly ran SolverTable from an STS sheet (not a model sheet)6. Modified on 9/24/2010 to make it compatible with the GRG Nonlinear Multistart option7. Modified on 9/3/2010 to be compatible with 64-bit Office 2010.o For Solver that ships with Excel 2007: SolverTable 2007.zip1. Modified on 4/26/2012 – see point 2 above for the 2010 version2. Modified on 12/5/2011 – see point 3 above for the 2010 version3. Modified on 11/8/2011 – see point 4 above for the 2010 version4. Modified on 10/7/2010 to fix a bug that occurred when a user mistakenly ran SolverTable from an STS sheet (not a model sheet)o For Solver that ships with Excel 2003 (or possibly earlier) and the standard Solver: SolverTable 2003.zip1. Modified on 4/26/2012 – see point 2 above for the 2010 version2. Modified on 12/5/2011 – see point 3 above for the 2010 version3. Modified on 11/8/2011 – see point 4 above for the 2010 version4. Modified on 10/7/2010 to fix a bug that occurred when a user mistakenly ran SolverTable from an STS sheet (not a model sheet)o Troubleshooting the above versions: Because these versions use the standard Solver (not Premium Solver), Solver has to be loaded and the Solver.xla or Solver.xlam file must be in the correct (default) folder. Otherwise, SolverTable will probably not work correctly. In addition, you might have to “wake up” Solver, by opening its dialog box and the closing it, before running SolverTable. (This “waking up” problem should no longer be an issue, starting with Solver for Excel 2010.)o For Excel 2007 and Premium Solver 7.0: SolverTablePremium 7.zip1. Modified on 4/26/2012 – see point 2 above for the 2010 version2. Modified on 10/7/2010 to fix a bug that occurred when a user mistakenly ran SolverTable from an STP sheet (not a model sheet)o An interesting use of SolverTable: One way to use SolverTable is to let the Input cell(s) (for a one-way or two-way table) be the initial value(s) of decision variable cell(s). For a linear model, the only point in doing this would be to check that Solver indeed gets to the optimal solution regardless of the initial values. For a nonlinear model, this could be used to check whether there are local optima that Solver might get to, depending on the initial values it starts from. For example, for problem 7.48 of PMS 3e, which has exactly two decision variable cells, it is easy to show that Solver gets to the global optimum only for some initial values of the decision variable cells. (Thanks to Tom Schriber for this suggestion.)
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a business tutorLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask linda_us Your Own Question
linda_us
linda_us
linda_us, Master's Degree
Category: Business and Finance Homework
Satisfied Customers: 852
852 Satisfied Customers
Experience: A tutor for Business, Finance, Accounts and other related topics.

linda_us is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

Meet the Experts:

linda_us

linda_us

Master's Degree

852 satisfied customers

A tutor for Business, Finance, Accounts and other related topics.

F. Naz

F. Naz

Bachelor's Degree

5,492 satisfied customers

Have completed B.COM and CA Finalist

Bizhelp

Bizhelp

Accountant

260 satisfied customers

BA degree and Certified Public Accountant

224 satisfied customers

dasdasd

Mr. Gregory White

Mr. Gregory White

Master's Degree

211 satisfied customers

M.A., M.S. Education / Educational Administration

Brittany

Brittany

Professional

30 satisfied customers

AA/Accounting BS/Business

Dimitry K., Esq.

Dimitry K., Esq.

Doctoral Degree

19 satisfied customers

JD/MBA, Business Attorney

< Previous | Next >

Related Business and Finance Homework Questions
Questions 1 to 20: Select the best answer to each question. Note that
Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
its 20 questions(Planning, Performance, Evaluation, and Control.)
its 20 questions(Planning, Performance, Evaluation, and Control.) I need to send as attachment . 1. The budget or schedule that provides necessary input data direct-labor budget is the A. production b… read more
Bizhelp
Bizhelp
Accountant
Bachelor's Degree
260 satisfied customers
15. A sporting goods store purchased $7,000 of ski boots in
15. A sporting goods store purchased $7,000 of ski boots in October. The store had $3,000 of ski boots in inventory at the beginning of October, and expects to have $2,000 of ski boots in inventory at… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
Use the following information to compute the following items:
Use the following information to compute the following items: (a) Calculate the cost of materials used. (b) Calculate the manufacturing costs incurred during the period. (c) Calculate the Cost of Good… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
Hi, I need help with the Pennfoster Managerial accounting exams
Hi, I need help with the Pennfoster Managerial accounting exams number 061683,061684,06168501… read more
Steven, M.Acc.
Steven, M.Acc.
Instructor
Master\u0027s Degree
252 satisfied customers
for BusinessTutor: accounting assistance Id like to schedule
for BusinessTutor: accounting assistance I'd like to schedule another online session with you for help with my accounting 2 questions. Anytime between now and Sunday the 19th. When are you available?… read more
Expert
Expert
224 satisfied customers
IM COUNTING ON YOU GUYS TO HELP WITH 2 LONG PROMBLEMS
Attachment: 2012-01-20_041754_chap_4__5_hwrk.docx Attachment: 2012-01-20_041014_chap_4__5_hwrk.docx Eastern Wood Products has two production departments: cutting and assembly. The company has been usi… read more
Expert
Expert
224 satisfied customers
Peter Catalanos Verde Vineyards in Oakville, California produces
Peter Catalano's Verde Vineyards in Oakville, California produces three varieties of wine: Merlot, Viognier, and Pinot Noir. His winemaster, Kyle Ward, has identified the following activities as cost … read more
Expert
Expert
224 satisfied customers
28) Which of the following is NOT considered an advantage of
28) Which of the following is NOT considered an advantage of using standard costs? A. Standard costs can be useful in setting prices for finished goods. B. Standard costs can be used as a means of fin… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
1 -Peter Catalanos Verde Vineyards in Oakville, California
1 -Peter Catalano's Verde Vineyards in Oakville, California produces three varieties of wine: Merlot, Viognier, and Pinot Noir. His winemaster, Kyle Ward, has identified the following activities as co… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
Crede Manufacturing Company uses a standard cost accounting
Crede Manufacturing Company uses a standard cost accounting system. In 2005, 33,000 units were produced. Each unit took several pounds of direct materials and 1 1⁄3 standard hours of direct labor at a… read more
Expert
Expert
224 satisfied customers
30. Multiplying the standard price of direct materials by the
30. Multiplying the standard price of direct materials by the standard quantity for direct materials yields A. the direct materials quantity variance. B. nothing; the two components should be added to… read more
Expert
Expert
224 satisfied customers
Moorhouse Clinic uses client visits as its measure of activity.
Moorhouse Clinic uses client visits as its measure of activity. During December, the clinic budgeted for 3,700 client visits, but its actual level of activity was 3,690 client visits. The clinic has p… read more
Expert
Expert
224 satisfied customers
23. At the break-even point of 2,000 units, variable costs
23. At the break-even point of 2,000 units, variable costs are $55,000, and fixed costs are $32,000. How much is the selling price per unit? A) $43.50. B) $11.50. C) $16.00. D) Not enough information … read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
FOR LINDA ONLY XYZ PRODUCES OJAND CANDIED ORANGE PEELS.
FOR LINDA ONLY: XYZ PRODUCES OJAND CANDIED ORANGE PEELS. A 1,000PD BATCH OF ORANGES COSTING $400, IS TRANSFORMED USING LAbor of 40.00 into 100 pds of orange peels and 300 pints of juice. the company h… read more
linda_us
linda_us
Master's Degree
Master's Degree
852 satisfied customers
Greyhound Company, a manufacturer of dog food, produces its
Greyhound Company, a manufacturer of dog food, produces its product in 1,000-bag batches. The standard cost of each batch consists of 8,000 pounds of direct materials at $0.30 per pound, 48 direct lab… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
1. Vintech Company is planning to produce 2,000 units of prod
1.Vintech Company is planning to produce 2,000 units of product in 2011. Each unit requires 3 pounds of materials at $6 per pound and half hour of labor at $14 per hour. The overhead rate is 70% of di… read more
F. Naz
F. Naz
Bachelor's Degree
5,492 satisfied customers
1. The standard cost card contains quantities and costs for
1. The standard cost card contains quantities and costs for _______. (Points: 1) direct material only direct labor only direct material and direct labor only direct material, direct labor, and overhea… read more
Johnmark1900
Johnmark1900
Finance Manager
Chartered Accountant
24 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x