Quote number one has a premium of 150% of actual losses and a minimum and maximum of $5 and $12 per 1,000 insured, while policy two has a premium of 100% of actual losses and a minimum and maximum of $6 and $9 per 1,000 insured. After examining the results from the simulation model, and looking at numbers as well as graphs, from the two quotes, quote number two is more appropriated for the company. Background Recognizing the complexity of the industry and the imperative need to offer the best service at the lowest possible cost, it is important to do a comprehensive study to come up with the best alternative that suits the company’s needs. To remain profitable in this dynamic economy, it is necessary to be cost-effective and eliminate all the unnecessary expenses but at the same time protecting the company’s assets to the maximum extent possible. Therefore it is fundamental that the company acquire an insurance policy with enough coverage for partial hull damages and total hull losses that doesn’t boost overall costs unjustifiably.
This is partly a practical decision given that we have not provided rates beyond 20 year term in the book. We use the quoted value for $250,000 policies pro-rated to the size of policy we need, and this is incorrect — policy premiums per dollar decline as the size of the policy rises, since some costs are fixed. However, it is the best we have, and the difference will not be
According to AU 330 “Valuation or allocation”, “Completeness” and “Existence or occurrences” are the primary audit objectives that the auditors hope to accomplish. On AU 330 States that the “Confirmation requests, if properly designed by the auditor, may address any one or more of those assertions; However, confirmations do not address all assertions equally well. Confirmation of goods held on consignment with the consignee would likely be more effective for the existence and the rights-and-obligations assertions than for
It takes about 36 hours to make the switch. This down time for set up is costing them a lot of money. Their competitors, who may operate more efficiently, aren’t loosing this time and money. Albatross Anchors charges $8 per pound for the bell anchors and $11 per pound for the snag hook anchors so they are charging about the same price as their competitors and with their slower production time, it’s almost impossible for them to be
Reducing the order to 2 000 units is the most financially favorable option for the company as a whole. • Exhibit 3 shows the JAFAR project has a positive NPV for the entire duration and up to 2 years after the end of the project. This provides sufficient time to find another contract that uses the expanded capacity. • Exhibit 4 shows a cost of $240 per CTR1 unit when using a modified direct costing method, which is lower than the $210 Market price. Qualitative Analysis • If the outsourcing contract is maintained, the Component Division wouldn’t work as a cost center which does not follow the Company’s mission.
Both strategies failed, therefore it is necessary to analyze what were their mistakes. • Core Competencies: Trexel has the know-how to development of different product better than its competitors (lower production cost), so it is necessary to consider the cost savings of the different alternatives. • Competitive Advantage: Because of Trexel has the know-how to produce high-quality products at low production cost, they are better positioned that its competitors. Also Trexel have protected their intellectual property through patents, which allow maintaining a sustainable competitive advantage in the time. For these reasons, it is necessary to analyze the competitive advantage of the different options presented.
If your program does not even run, you might try commenting out parts of the code so that you can test the working parts. If you believe that your work is complete, merely state that fact. Write something like “My program is complete according to all requirements of the assignment.” Be direct and explicit: Do not just write something like “It runs,” or “I didn’t see anything wrong with it,” or “I had some problems but I fixed them.” These are all right only if provided as comments after a direct conclusion about completeness. Note: If you claim that your work is complete and it is not complete in ways that you should have been able to detect, you will lose credit twice: once for the problems in the assignment and once for
If you choose 40 random employees from the corporation, the standard error would equal 6/Square root of 40 = .95 days. The 12 days in this department corresponds to (12-8.2)/.95 = 4 standard errors above the corporation average of 8.2. This is much higher than two or three standard errors, and it appears to be beyond chance variation. Chapter 9 Exercise 3 The p- value tells you how likely it would be to get results at least as extreme as this if there was no difference in the taste and only chance variation was operating. In this problem, p-value of 0.02 means that, if there is no difference in taste, then there is only 2% chance that 70% or more people would declare one drink better than the
By having these policies it will show that the company is willing to be competitive and will do what it takes to recruit and retain employees. There is a problem with a policy like this. It would not be a low cost strategy. Companies would be paying more for certain jobs or all jobs but they would be paying a lot in compensation. To do this the company would have to take away from other parts in the company like training, development and growth.
The value depends on the reliability and validity of the research findings and management's willingness to accept and act on its findings. In general, the most valuable information tends to cost the most because it requires more intensive methods, but of course it is easy to spend a great deal of money on poorly conceived