Mat 540 Mat540 Complete Homework Assignment Essay
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Week 1 Homework
1. The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $55,000.The variable cost of recapping a tire is $8.The company charges $21 to recap a tire.
a. For an annual volume of 10,000 tires, determine the total cost, total revenue, and profit.
b. Determine the annual break-even volume for the Retread Tire Company operation.
2. Evergreen Fertilizer Company …show more content…
d. What factors might occur during the season that would alter the volume sold and thus the break-even price Annie might charge?
6. The College of Business at Kerouac University is planning to begin an online MBA program. The initial start-up cost for computing equipment, facilities, course development, and staff recruitment and development is $360,000.The college plans to charge tuition of $17,000 per student per year. However, the university administration will charge the college $12,000 per student for the first 100 students enrolled each year for administrative costs and its share of the tuition payments.
e. How many students does the college need to enroll in the first year to break even?
f. If the college can enroll 75 students the first year, how much profit will it make?
g. The college believes it can increase tuition to $22,000, but doing so would reduce enrollment to
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35. Should the college consider doing this?
7. The following probabilities for grades in management science have been determined based on past records:
C 0..38 D 0..12
The grades are assigned on a 4.0 scale, where an A is a 4.0, a B a 3.0, and so on. Determine the expected grade and variance