# Management has asked you to help estimate the most likely cost per unit to produce a new product

The following task, in which you are asked to conduct a small number of simulation trials, should be done with manual calculations. Please be aware that the simulation results of such a small number of trials would not be sufficient for one to draw valid conclusions in a real situation. A large number of trials run on a computer would be necessary in order to arrive at a valid conclusion.
Given:
Management has asked you to help estimate the most likely cost per unit to produce a new product so that they can project profits at different selling prices. You are to simulate cost behavior using probabilistic simulation (Monte Carlo simulation) and have been provided with the following cost estimates. Materials cost will range between \$33 and \$39 per unit, labor between \$22 and \$28 per unit, and utilities between \$3 and \$6 per unit. The probability distributions of cost per unit are as follows.
Materials:
• The probability is .18 that the cost will be \$33.
• The probability is .23 that the cost will be \$35.
• The probability is .32 that the cost will be \$38.
• The probability is .27 that the cost will be \$39.
Labor:
• The probability is .12 that the cost will be \$22.
• The probability is .18 that the cost will be \$23.
• The probability is .22 that the cost will be \$24.
• The probability is .28 that the cost will be \$25.
• The probability is .20 that the cost will be \$28.
Utilities:
• The probability is .26 that the cost will be \$3.
• The probability is .43 that the cost will be \$4.
• The probability is .31 that the cost will be \$6.
A. Complete the attached “Simulation Template” to determine the following costs:
1. Average materials cost per unit
2. Average labor cost per unit
3. Average utilities cost per unit
4. Average total cost per unit
Note: Run 10 trials using the random numbers that are provided on the “Simulation Template” for each probability distribution. Use the random numbers in the exact sequence that they appear on the template for each cost.
B. Determine the selling price per unit that should be established for this product using your simulation results and assuming that the company wants to realize an average markup of \$20 on each unit sold.
• The probability is .43 that the cost will be \$4.
• The probability is .31 that the cost will be \$6.
A. Complete the attached “Simulation Template” to determine the following costs:
1. Average materials cost per unit
2. Average labor cost per unit
3. Average utilities cost per unit
4. Average total cost per unit
Note: Run 10 trials using the random numbers that are provided on the “Simulation Template” for each probability distribution. Use the random numbers in the exact sequence that they appear on the template for each cost.

# If light bulbs have lives that are normally distributed with a mean of 2500 hours

Describe an auto transformer starter. From the expression for power input per phase ( pro torque ) show that for turns ratio n of (root 3): 1 for the auto transformer:

the power input to the motor/phase = Vs^2*Rp/n^2*Zp^2

the motor starting torque = DOL torque/3

# APPLE COMPANY

a. What is the estimated beta coefficient of your company?  What does this beta mean in terms of your choice to include this company in your overall portfolio? b.Given the beta of your company, the present yield to maturity on U.S. government bonds maturing in one year (currently about 4.5% annually) and an assessment that the market risk premium (that is – the difference between the expected rate of return on the ‘market portfolio’ and the risk-free rate of interest) is 6.5%, use the CAPM equation in order to find out what is the present ‘cost of equity’ of your company? Explain what is the meaning of the ‘cost of equity’. c. Choose two other companies, look up their “Beta” and report the names of these companies and their betas. Suppose you invest one third of your money in each of the stocks of these companies. What will the beta of the portfolio be? Given the data in (b), what will the Expected Rate of Return on this portfolio be? Do you feel that the three-stock portfolio is sufficiently diversified or does it still have risk that can be diversified away? Explain

1. What was the main motivating factor for European maritime expansion in the sixteenth and early seventeenth centuries?

A. To increase economic opportunity

B. To seek out new lands for increasing populations

D. To conquer other empires or nations and take away local control

2. The root causes of the crisis that many states faced at the end of the second millennium B.C.E. were

A. natural disasters and external invasions.

B. external invasions and unstable governments.

C. migrations of foreigners and ecological fragility.

D. unstable governments and ecological fragility.

3. It’s believed that the role of feasts in the Ice Age was to

A. strengthen group ties.

B. celebrate weddings.

C. celebrate the resolution of serious conflicts.

D. mark times when food was abundant.

4. _______ was a kingdom on the Atlantic coast of Spain that traded with the Greeks and Phoenicians.

A. Fezzan

B. Tartessos

C. Etrona

D. Elche

5. A key technological development that began around 500 B.C.E. in sub-Saharan Africa was

A. yam cultivation.

B. monumental architecture.

C. writing.

D. iron smelting.

6. Which of the following archaeological evidence suggests that the Olmec were shamanistic?

A. Depictions of captives

B. Records of their mythology

C. Figurines of were-jaguars

D. Inscriptions describing religious observances

7. In forming his government, Asoka recruited what group to serve as bureaucrats?

B. The military elite

C. The rising merchant class

D. The Buddhist clergy

8. The Chinese philosopher Xunzi wrote that if a person attempted to cure rheumatism by beating a drum and sacrificing a pig to the gods, then the

A. rheumatism would get better, but the person wouldn’t be happy.

B. rheumatism wouldn’t get better because proper therapy required playing a flute and sacrificing a chicken.

C. rheumatism would be cured.

D. drum would be worn out, and the pig would be gone.

9. Which of the following was a Chinese school of thought during the fourth century B.C.E. that denounced ethics in favor of obedience?

A. Legalism

B. Buddhism

C. Confucianism

D. Daoism

10. Which of the following is not one of the new thoughts of or about God that were formulated in the Axial Age?

A. Single God

B. Divine God

C. Many Gods

D. Involved God

11. How did Alfred the Great secure his modern reputation as a state-builder?

A. He forced people to live in militarized colonies.

C. He gave free land and tax breaks to peasants.

D. He was lavishly generous to monks.

12. In the Rome of Marcus Aurelius, a recurrent formula for saving the state from crisis involved

A. enlisting the aid of Persian allies.

B. dividing the government and delegating authority.

C. politicizing the military.

D. paying tributes to Germanic peoples in Europe.

13. In Mongol society, the expression “crane catching” referred to

A. successful leaders forcing submission from rivals.

B. a mysterious religious practice that’s little understood today.

C. the success of Mongol merchants in establishing long-term contracts with buyers.

D. the popular pastime of hunting birds.

14. What was the main reason for the isolation of Japan?

A. Domination by Chinese culture

B. Difficult navigation in surrounding seas

C. Weak rulers

D. Lack of education

15. Which of the following practices did the Ottomans use to strengthen their state?

A. The practice of religions other than Islam was forbidden.

B. Christian children were enslaved and brought up as Muslims to become Janissaries.

C. Missionaries were sent to remote areas to generate wealth.

D. Gifts were given to those who converted to Islam.

16. The economic security of the Inca Empire was based on

A. extensive trade with the Aztec Empire.

B. a horizontal compilation of terra firma.

C. intensive maize farming.

D. environmental diversity.

17. All of the following were a result of the Crusades except

A. increased hostility in Europe between Christians and Jews.

B. establishment of a large Christian kingdom in the Middle East.

C. a proclamation, by Zangi, calling for Jihad against the infidels.

D. destruction of peaceful relations between Muslims and Christians.

18. Which of the following is an example of new economic divisions in the European peasantry that began to occur during the fifteenth century?

A. Peasants living east of the Elbe River became freer.

B. Peasants throughout Europe became poorer.

C. Peasants living in the Balkans became freer.

D. Peasants living west of the Elbe River became freer.

19. During the sixteenth and seventeenth centuries, the major reason for the high death rate among Native Americans from disease was

A. warfare.

B. lack of immunities.

C. overwork.

D. malnutrition