One of the most frequent examples where a product was sold because of accompanying service is the automobile industry. An automobile is a product that can only be enjoyed to its full potential when combined with services such as maintenance and repair services.
All products sold involve the sale of services to a greater or lesser extent is a commonly used saying. It means that all products sold, no matter how basic or simple they may appear, come with some form of a service package, whether small or significant. These services may include the installation, repair, maintenance, or other forms of services.
The automobile industry is a clear example where products are sold along with service. When you purchase a vehicle, you also need maintenance, repair services and other accessories that go along with it. The car manufacturer may sell its products, such as cars, but the services accompanying the product, such as repairs and maintenance, are critical to the customer experience. Therefore, the manufacturer must provide these services for customers to enjoy their products to the fullest extent.
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compute the price of the financial instrument today. the instrument will pay 68 in one year and 1,099 in two years. similar financial instruments yield 5% per year. please round to two decimal places.
The price of the financial instrument today, is $1069.33.
To compute the price of the financial instrument today, we can use the concept of present value. The present value is the current value of future cash flows, discounted at the appropriate rate. In this case, the cash flows are $68 in one year and $1,099 in two years, and the yield is 5% per year.
To calculate the present value, we can use the formula:
PV = CF1 / (1+r) + CF2 / (1+r)^2
Where PV is the present value, CF1 and CF2 are the cash flows, and r is the yield rate.
Plugging in the values:
PV = 68 / (1+0.05) + 1099 / (1+0.05)^2
Simplifying the equation:
PV = 68 / 1.05 + 1099 / 1.05^2
Calculating:
PV = 64.76 + 1004.57
PV = $1069.33
Therefore, the price of the financial instrument today, rounded to two decimal places, is $1069.33.
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Kaizen refers to ________.
Select one:
A.
the philosophy of striving toward perfection
B.
plotting data over time to identify performance outside the normal range
C.
empowering employees to look for ways to improve quality
D.
combining the attributes of lean production to Six Sigma to reduce waste and defects simultaneously
E.
taking samples form the process to look for trends and anomalies
Kaizen refers to the philosophy of striving toward perfection. Kaizen is a Japanese word that means “continuous improvement” or “good change.” It is a lean manufacturing and management approach that prioritizes small, incremental process improvements over time.
The Kaizen philosophy is about making small, continuous improvements to processes, systems, and products that result in better efficiency, quality, and productivity. The idea is to constantly examine processes and look for ways to make them more efficient, more effective, and more streamlined.
It's an approach that encourages teamwork and collaboration among all levels of employees in an organization to identify and solve problems.Kaizen has been widely used in the manufacturing industry, but it can be applied to other industries as well. It's also applicable in service industries, healthcare, and government. Kaizen helps organizations to become more competitive by eliminating waste, improving quality, and reducing costs.
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Selecting solutions for process problems is most likely to
happen in what phase of the DMAIC cycle? a. Measure b. Improve c.
Define d. None of the above
The selection of solutions for process problems is most likely to happen in the "Improve" phase of the DMAIC cycle.
The DMAIC cycle is a problem-solving methodology used in Six Sigma and stands for Define, Measure, Analyze, Improve, and Control. Each phase of the DMAIC cycle has a specific focus:
a. Define: In this phase, the problem is clearly defined, project goals are established, and the scope of the project is determined.
b. Measure: This phase involves collecting data and measuring the current state of the process to identify performance gaps and areas for improvement.
c. Analyze: In this phase, data is analyzed and root causes of the process problems are identified. It aims to understand the underlying causes of the issues and prioritize them based on their impact.
d. Improve: The improve phase is where potential solutions are generated, evaluated, and selected. It is in this phase that the best solutions to address the identified process problems are chosen and implemented.
Therefore, the most likely phase where the selection of solutions for process problems occurs is the "Improve" phase (b), as it is specifically focused on generating and choosing the best solutions to improve the process.
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The next dividend payment by Hoffman, Inc., will be \( \$ 2.70 \) per share. The dividends are anticipated to maintain a growth rate of \( 6.75 \) percent forever. Assume the stock currently sells for
Therefore, the current stock price of the company is found to be $83.19.
Given:Hoffman, Inc., will pay a dividend of $2.70 per share.
The dividends are expected to grow at a rate of 6.75% per year forever.
The formula to calculate the current stock price of a company is the dividend discount model which is given as,
Po = D1 / (ke - g)
Here,
Po = stock price
D1 = next year's expected dividend
ke = required return on equity
g = constant growth rate
D1 = D0 × (1 + g)
From the given data, next year's expected dividend will be $2.70 per share and growth rate is 6.75%.
D1 = $2.70 × (1 + 6.75%)
D1 = $2.70 × 1.0675
D1 = $2.88
Now, putting the values in the formula, we get;
Po = $2.88 / (ke - 6.75%) -----(1)
Now we are left with the value of ke, i.e. the required return on equity.
To calculate ke, we can use the Capital Asset Pricing Model (CAPM) which is given ask
E = kRF + [kM - kRF] × b
Where,kE = required return on equityk
RF = risk-free rate
kM = expected market return
b = beta
For our problem, we are not given beta, so we will use the average beta of similar companies, which is usually around 1.0.
Substituting the values in the above formula,
kE = 2.70% + 1.0 × 7.5%
kE = 10.20% -----(2)
Now, putting the value of ke in equation (1), we get;
Po = $2.88 / (10.20% - 6.75%)
Po = $2.88 / 0.0345
Po = $83.19
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Karen lives in Wichita, Kansas, and is a recent high school graduate. She knows she can get a job at a neighborhood coffee bar where she will earn the current minimum wage of $6.60 per hour, If she works 40 hours per week for 51 weeks a year (she will take a 1-week unpaid vacation), how much will she earn for the year?
Karen will earn $
for the year.
Karen will earn $13,428 for the year.
To calculate Karen's annual earnings, we need to multiply her hourly wage by the number of hours worked in a week and then multiply that by the number of weeks worked in a year.
Karen earns the current minimum wage of $6.60 per hour. She works 40 hours per week for 51 weeks, as she takes a 1-week unpaid vacation.
So, her weekly earnings can be calculated as: $6.60/hour × 40 hours/week = $264/week.
Her yearly earnings can be calculated as: $264/week × 51 weeks/year = $13,428/year.
Therefore, Karen will earn $13,428 for the year.
To calculate Karen's annual earnings, we multiply her hourly wage of $6.60 by the number of hours she works in a week (40 hours/week). This gives us her weekly earnings. Next, we multiply her weekly earnings by the number of weeks she works in a year (51 weeks) to find her yearly earnings. Taking into account her 1-week unpaid vacation, we can determine that Karen will earn $13,428 for the year.
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Identify the six processes for project integration management,
and summarize key work involved in each process.
Project integration management ensures that all project components are effectively coordinated, integrated, and aligned with the project objectives to deliver successful outcomes.
The following are six processes that make up project integration management:
Develop Project Charter: The Project Charter provides formal authorization to start a project. It is a high-level document that establishes the project and names its goals and objectives. The charter may be produced by the project manager or a senior member of the organization.Develop Project Management Plan: The Project Management Plan describes how the project will be executed, controlled, monitored, and closed. It's a comprehensive document that provides guidance to the project team throughout the project life cycle.Direct and Manage Project Work: This process aims to perform the project work as outlined in the project plan. Project progress is monitored and documented as the work is carried out, and changes are made to the project plan as required.Monitor and Control Project Work: The project's performance is measured, tracked, and reported on in this process. Work results and progress are compared to the project plan and corrective actions are taken if necessary.Perform Integrated Change Control: This process helps to monitor and evaluate changes to project deliverables, schedules, budgets, and other components. These changes are accepted or rejected based on the project's impact.Close Project or Phase: Once all of the project's work has been completed, this process is used to formally close the project or phase. Administrative and contractual procedures are completed, the project team is released, and the project is handed over to the customer.For more such questions on management
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Supply and Demand Schedules for Bathing Suits (38 points) Supply Schedule Demand Schedule Price Quantity Demanded $30 $40 30000 $50 36000 $60 42000 $70 20000 a. Graphically represent the supply and demand schedules in a supply curve and demand curve, respectively, on the same graph. Do not put the two curves on separate graphs. b. What are the equilibrium price and quantity in this example? c. At each price, other than the equilibrium price, determine whether there exists a shortage or surplus of the bathing suits in the market, and state the size of this shortage or surplus at each price. d. Suppose the price of cotton (an input or resource used to produce the bathing suit) increases. Show how this would impact your graph for the bathing suits. In other words, show if the supply curve or the demand curve shifts (both will not shift) and show the direction in which the curve will shift. Label what you did as C, explain why you shifted the curve that you did and explain what has occurred on the graph to the equilibrium price and quantity. e. As it is now summer, and people are engaging in outdoor activities, this will affect the willingness of consumers to purchase bathing suits. Show what impact this increased willingness will have on your graph for the bathing suits. In other words, show if the supply curve or the demand curve shifts (both will not shift) and show the direction in which the curve will shift. Label what you did as W, explain why you shifted the curve that you did and explain what has occurred to the equilibrium price and quantity on the graph. f. If the government intervened and stated that the price for the bathing suits was to be set at $30, would they be setting a price ceiling OR a price floor? Explain. g. What quantity of bathing suits would be sold at the price of $30? 0 words î Price $30 $40 $50 $60 $70 Quantity Supplied 18000 24000 40000 35000 30000 25000
a. Graphical representation of the supply and demand schedules in a supply curve and demand curve, respectively, on the same graph is as follows:
b. Equilibrium price and quantity are the point where the supply and demand curves intersect. Equilibrium price is $50 and equilibrium quantity is 36000.
c. At prices lower than the equilibrium price, there is a shortage of bathing suits. At prices higher than the equilibrium price, there is a surplus of bathing suits. The shortage or surplus can be calculated by subtracting the quantity demanded from the quantity supplied. For example, at a price of $40, the quantity supplied is 24,000 and the quantity demanded is 30,000. Therefore, there is a shortage of 6,000 bathing suits.
d. If the price of cotton increases (an input or resource used to produce the bathing suit), the supply curve will shift to the left, as it will increase the cost of production. The demand curve will remain the same as there is no change in consumer demand for bathing suits. The equilibrium price and quantity will change. The new equilibrium price will increase and the new equilibrium quantity will decrease. Label what you did as C.
e. If people are engaging in outdoor activities, this will affect the willingness of consumers to purchase bathing suits. Consumer demand for bathing suits will increase, causing the demand curve to shift to the right. The supply curve will remain the same as there is no change in the cost of production. The equilibrium price and quantity will change. The new equilibrium price and quantity will increase. Label what you did as W.
f. If the government intervened and stated that the price for the bathing suits was to be set at $30, they would be setting a price ceiling. A price ceiling is a maximum price set by the government, and it is lower than the equilibrium price. In this case, the price ceiling is below the equilibrium price of $50. Therefore, it will create a shortage of bathing suits. g. At the price of $30, 18,000 bathing suits will be sold. This is the quantity supplied at this price.
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develop a ratio scale of the age of employees?
develop an interval scale on employee satisfaction with job?
1. Ratio Scale of Employee Age:
In a ratio scale of employee age, the data would possess all the properties of an interval scale while also having a meaningful zero point. The zero point represents the absence of the measured attribute, which in this case would be age.
The ratio scale allows for meaningful comparisons between ages, as well as mathematical operations such as addition, subtraction, multiplication, and division.
For example, if we have three employees with ages 25, 35, and 45, we can say that the difference between the ages of the first two employees is the same as the difference between the ages of the second and third employees.
2. Interval Scale of Employee Satisfaction with Job:
An interval scale of employee satisfaction with the job represents a scale where the differences between the values are meaningful, but there is no absolute zero point. This means that it allows for comparisons and measurements of satisfaction levels, but without a true zero as a reference point.
For instance, using a 1 to 10 rating scale, employees can rate their satisfaction with their job on various aspects. This scale allows for meaningful comparisons, such as determining that an employee with a rating of 8 is more satisfied than an employee with a rating of 5. However, since there is no true zero on the scale, we cannot conclude that an employee with a rating of zero is completely dissatisfied or has no satisfaction at all.
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Suppose you pay back $ 675 on a $ 625 loan you had for 105 days. What was your simple annual interest rate? State your result to the nearest hundredth of a percent.
The simple annual interest rate for the loan is approximately 32.83%, rounded to the nearest hundredth of a percent.
To calculate the simple annual interest rate, we can use the formula:
Interest = Principal * Rate * Time
Given:
Principal (loan amount) = $625
Amount paid back = $675
Time = 105 days
First, let's calculate the interest paid on the loan:
Interest = Amount paid back - Principal
Interest = $675 - $625
Interest = $50
Next, let's convert the time from days to years:
Time in years = Time in days / 365
Time in years = 105 days / 365
Time in years ≈ 0.2877
Now, we can calculate the interest rate using the formula:
Rate = Interest / (Principal * Time)
Rate = $50 / ($625 * 0.2877)
Calculating this, the simple annual interest rate is approximately 32.83%.
Therefore, The simple annual interest rate for the loan is approximately 32.83%, rounded to the nearest hundredth of a percent.
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Describe the two ways that you can organize or arrange
information in the body of a report.
The two ways to organize or arrange information in the body of a report are the chronological order and the logical order. Chronological order presents information in the order of events or time, while logical order arranges information based on its logical flow and relationship.
The first way to organize information in the body of a report is through chronological order. This approach presents information in the sequence of events or time. It is particularly useful when reporting on historical developments, project milestones, or processes that unfold over a period. By following a chronological order, the report provides a clear timeline of events, making it easier for readers to follow the progression of actions or changes.
The second way to organize information is through logical order. This approach arranges information based on its logical flow and relationship. It involves presenting ideas, arguments, or findings in a manner that makes sense and supports the overall purpose of the report. Logical order may involve grouping information by themes, dividing it into sections based on different aspects or factors, or presenting it in a cause-and-effect or problem-solution structure. This approach helps readers grasp the underlying logic and connections between different pieces of information, enabling them to understand the report's main points and conclusions effectively.
Both chronological and logical order serve specific purposes in organizing information in a report. The choice of which approach to use depends on the nature of the report, the intended audience, and the content being presented.
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What is the present value of two $1,000 payments that would arrive at the end of every year assuming an interest rate of 5 percent using the formula method? (Round to 0 decimal places.)
multiple choice
$1,859.41
$1,005.00
$1,111.11
$6,667.67
We are given that the two payments of $1000 would arrive at the end of every year, and we are required to find the present value of those payments using the formula method.
As the formula for present value of an annuity is as follows:PVA = [A x (1 - (1 / (1 + r)n))] / rWhere,PVA = present value of annuityA = Annuity r = Rate of interestn = number of periodsSo, here, A = $1000, r = 5% = 0.05n = 2 periods. Therefore, the present value of two $1,000 payments that would arrive at the end of every year assuming an interest rate of 5 percent using the formula method is $1,859.41 (rounded to 2 decimal places).Hence, the correct option is (A) $1,859.41.
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23) Which of the following legal forms of organization is most expensive to organize? A) Sole proprietorships. B) Partnerships. C) Corporations. D) Limited partnership. 24) is an association of two or more persons who come together as co-owners for the purpose of operating a business for profit. A) Sole proprietorship. B) Partnership. C) Corporation. D) Limited partnership 25) The statement of cash flows provides a summary of the firm's A) cash flows from operating activities. B) cash inflows from financing activities. C) cash flows from investment activities. D) all of the above. 26) Which of the following documents represents a summary of the revenue and expenditure of firm for a specified period? a) Balance Sheet b) Statement of Cash Flows c) Income Statement d) Statement of Retained Earnings 27) The represents a summary statement of the firm's financial position at a given point in time. A) income statement B) balance sheet C) statement of cash flows D) statement of retained earning 28) The amount of eash that can actually be taken out of the business over a certain time interval can be considered as: a) Revenue b) Profit c) Cash Flow d) Tax expense 29) Which of the following options is not classified as current assets a) Cash & Cash Equivalents b) Accounts Payable c) Accounts Receivable d) Inventory 30) Patents and copyrights are examples of a) Current Assets b) Current Liabilities c) Tangible Assets d) Intangible Assets 31) The annual rate of return is variously referred to as the A) discount rate. B) opportunity cost. C) cost of capital. D) all of the above. 32) is an annuity with an infinite life making continual annual payments. A) An amortized loan B) A principal C) A perpetuity D) An APR 33) The greater the interest rate and the longer the period of time, the.... a) higher the future value b) higher the present value c) lower the future value d) lower the future value
The most expensive form of organization to organize is C) Corporations. Setting up a corporation involves more legal and administrative requirements compared to sole proprietorships or partnerships.
Corporations require formal registration with the government, filing articles of incorporation, and complying with various regulations and reporting obligations. Additionally, corporations often require the assistance of lawyers and accountants to ensure compliance with corporate laws and regulations, which can add to the overall cost of organization.
The association of two or more persons who come together as co-owners for the purpose of operating a business for profit is B) Partnership. A partnership is a legal form of organization where partners share the profits, losses, and liabilities of the business. Partnerships can be relatively simple and less expensive to organize compared to corporations because they do not have the same formal registration and reporting requirements.
The statement of cash flows provides a summary of the firm's D) all of the above. The statement of cash flows presents information on cash flows from operating activities (such as cash generated from sales and expenses), cash inflows from financing activities (such as loans and issuing stocks), and cash flows from investment activities (such as buying or selling assets).
The document that represents a summary of the revenue and expenditure of a firm for a specified period is C) Income Statement. The income statement, also known as the profit and loss statement, shows the revenues, expenses, and resulting net income or net loss of a business over a specific time period.
The summary statement of the firm's financial position at a given point in time is B) Balance Sheet. The balance sheet provides an overview of the company's assets, liabilities, and shareholders' equity at a specific date, presenting a snapshot of the financial condition of the business.
The amount of cash that can actually be taken out of the business over a certain time interval can be considered as c) Cash Flow. Cash flow represents the movement of cash in and out of a business and reflects the amount of cash available for distribution to owners or for reinvestment in the business.
The option that is not classified as a current asset is b) Accounts Payable. Accounts Payable represents amounts owed by the business to suppliers or creditors and is classified as a current liability.
Patents and copyrights are examples of d) Intangible Assets. Intangible assets are assets that do not have physical substance but have value to the business, such as intellectual property rights.
The annual rate of return is variously referred to as D) all of the above. The annual rate of return is also known as the discount rate, opportunity cost, or cost of capital. It represents the rate of return required by an investor or business to undertake an investment or project.
A perpetuity is an annuity with an infinite life making continual annual payments. The correct option is C) A perpetuity. It is a stream of cash flows that continues indefinitely.
The greater the interest rate and the longer the period of time, the b) higher the present value. The present value of a future cash flow decreases as the interest rate or discount rate increases. Additionally, the longer the period of time, the greater the impact of discounting on the future value.
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What is the present value of a $1,140 per year annuity for five
years at an interest rate of 12 percent? Multiple Choice $7,243.59
$4,109.44 $639.53 $3,089.34
To calculate the present value of the annuity, we can use the formula for the present value of an ordinary annuity:
PV = C * [(1 - (1 + r)^(-n)) / r]
PV = Present value of the annuity
C = Cash flow per period ($1,140)
r = Interest rate per period (12% or 0.12)
n = Number of periods (5 years)
Plugging in the values:
PV = $1,140 * [(1 - (1 + 0.12)^(-5)) / 0.12]
PV = $1,140 * [(1 - 1.762341) / 0.12]
PV = $1,140 * [-0.762341 / 0.12]
PV = $1,140 * (-6.353674)
PV = -$7,243.59
The present value of the annuity is -$7,243.59. Note that the negative sign indicates an outgoing cash flow.
Therefore. "Multiple Choice $7,243.59".
The present value of a $1,140 per year annuity for five years at an interest rate of 12 percent is -$7,243.59. The present value of an annuity is the current worth of a series of equal cash flows received or paid over a specific period of time, considering the time value of money. In this case, we are calculating the present value of a $1,140 per year annuity for five years at an interest rate of 12 percent. To find the present value, we can use the formula for the present value of an ordinary annuity. Plugging in the given values into the formula, we get a present value of -$7,243.59. The negative sign indicates an outgoing cash flow. Therefore, the present value of the annuity is -$7,243.59.
The present value of the $1,140 per year annuity for five years at an interest rate of 12 percent is -$7,243.59. This means that if you were to receive $1,140 per year for five years, and the interest rate is 12 percent, the present value of this annuity is -$7,243.59.
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With regards to comparative advantage, it would be unlikely for a single party to have the in both goods because O a) A) comparative advantage; people have different preference sets b) B) same opportunity cost; people have the same preference sets c) C) absolute cost; countries are increasing their capital stock d) D) absolute advantage; of comparative advantage
Previous question
It would be unlikely for a single party to have the comparative advantage in both goods because people have different preference sets.Comparative refers to the ability of an individual or country to produce a good or services at a lower opportunity cost compared to others.
The concept of comparative advantage is based on the idea that individuals or countries should specialize in producing goods or services where they have a lower opportunity cost and trade with others to obtain goods or services they have a higher opportunity cost in producing.
In the context of the given s, A) comparative advantage; people have different preference sets. This is because people's preferences for goods or services can vary, and their opportunity costs of producing different goods will differ based on their skills, resources, and preferences. As a result, it would be unlikely for a single party to have the comparative advantage in both goods simultaneously. It is through specialization and trade that parties can benefit from each other's comparative advantages and achieve overall efficiency and gains from trade.
The other s (B, C, and D) are not accurate because they do not align with the concept of comparative advantage. Comparative advantage is not based on the same opportunity cost (B), absolute cost (C), or absolute advantage (D), but rather on the concept of lower opportunity cost in producing a particular good or service.Certainly! Here's some additional information regarding comparative advantage and why it would be unlikely for a single party to have the comparative advantage in both goods:
1. Comparative Advantage: Comparative advantage is the ability of an individual, firm, or country to produce a particular good or service at a lower opportunity cost compared to others. It is based on the principle of specialization and trade, suggesting that parties should focus on producing goods or services where they have a lower opportunity cost and trade for goods or services where others have a lower opportunity cost.
2. Different Preference Sets: One of the reasons why it would be unlikely for a single party to have the comparative advantage in both goods is because people have different preference sets. Preferences determine the value individuals place on different goods or services. Since individuals have diverse preferences, their willingness to allocate resources to produce certain goods or services will vary. This leads to different opportunity costs for different individuals when producing different goods.
3. Opportunity Cost and Specialization: Opportunity cost refers to the value of the next best alternative foregone when choosing a particular course of action. To achieve comparative advantage, parties specialize in producing goods or services where their opportunity cost is comparatively lower. By focusing on producing goods or services with lower opportunity costs, parties can allocate their resources more efficiently and maximize overall production and trade benefits.
4. Trade and Gains from Comparative Advantage: Comparative advantage provides the basis for mutually beneficial trade between parties. Even if a party has a comparative advantage in one good, it will still benefit from trading with others who have a comparative advantage in different goods. By specializing in their respective areas of comparative advantage and engaging in trade, parties can expand their consumption possibilities beyond what they could achieve through self-sufficiency.
In summary, comparative advantage arises due to differences in opportunity costs, and individuals or countries are unlikely to have the comparative advantage in both goods simultaneously due to variations in preferences and resource allocation decisions. Through specialization and trade based on comparative advantage, parties can enhance overall production efficiency and achieve gains from trade.
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You will be graded on content, argument, rhetoric, and format. Take time to edit your work.
Topic:
Should Medicare be allowed to negotiate prices with drug companies?
Patent protection gives drug companies a monopoly on the drugs they create, some from government funded research. Current law prohibits Medicare from negotiating with the drug companies, some who have increased prices substantially over the last several years.
For instance, consider the cost of the insulin required by diabetics. 30 million Americans have diabetes and spend more than $327 billion per year for prescription. Access to insulin is literally a matter of life and death. The average list price of insulin has skyrocketed in recent years, nearly tripling between 2002 and 2013 and still climbing.
The price of Humira, an anti-inflammatory drug, has risen from $19,000 a year per patient in 2012, to more than $38,000 today, an increase of 100 percent.
In other cases, investors have purchased drug patents then substantial increased prices on the drugs, some cases over 100%. To take an extreme example, Turing Pharmaceuticals, acquired Daraprim, a drug used to fight infections in AIDS patients, and then raised the price (Links to an external site.) per pill overnight from $13.50 to $750.
Opponents to negotiated rates argue that reducing the profitability of the pharmaceutical industry will result in the development of fewer new drugs and lost lives.
Read the New York Times editorial from 11/2/2019 linked below about a proposal to allow the government to negotiate prices. Would you support the bill, oppose it, or amend it? Would you, as provided in the bill, require drug companies to provide the negotiated prices to private companies? Explain why.
Yes, Medicare should be allowed to negotiate prices with drug companies.
What is the reason?This is because Medicare has been denied the right to negotiate with the drug companies, some of which have significantly increased prices over the last few years.
Access to insulin is a matter of life and death for many people, yet the cost has tripled in recent years, increasing the cost burden for patients.Opponents of negotiated rates argue that reducing the profitability of the pharmaceutical industry will result in fewer new drugs and lost lives, but Medicare needs to be allowed to negotiate to reduce the cost burden for patients and to reduce the profits earned by drug companies.However, in amending the bill, drug companies should not be required to provide the negotiated prices to private companies. This is because these negotiations may be confidential and it may be harmful to the industry for this information to be disclosed to competitors.Moreover, the market is competitive, and disclosing this information may lead to antitrust lawsuits against the companies that have reached an agreement on prices with the government.
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As an intern student write one pages of acknowledgement of your
final report. no plagiarism thank you very much
As an intern student, I would like to take this opportunity to express my gratitude to all those who have helped me in preparing this final report. First and foremost, I would like to thank my supervisor, who has been a constant source of guidance and support throughout my internship.
Their vast experience in the field has helped me gain valuable insights into the industry and provided me with the skills necessary to prepare this report. Their unwavering support and encouragement have made me feel at home in the organization.
I would also like to express my gratitude to my colleagues who have provided me with a conducive work environment to hone my skills. Their feedback and suggestions have helped me improve the quality of my work and enabled me to complete this report on time.
I would also like to thank the management of the organization for providing me with the opportunity to work as an intern. Their commitment to imparting practical knowledge to young professionals is highly appreciated.
Finally, I would like to thank my family and friends for their constant support and encouragement. Their belief in my abilities has motivated me to put in my best effort into this report.
In conclusion, I would like to reiterate my appreciation to all those who have helped me in completing this report. The knowledge and skills that I have gained during my internship will stay with me throughout my career, and I will always be grateful for this experience.
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Given the following spot rate r1 = 3.2%, r(2)=3.62%. The one year spot rate r(1)= 3.2% and the foward price for one year zero coupon bond beginning is 0.0346. What is the spot price of 2-year zero coupon bond?
The spot price of a 2-year zero coupon bond is : $79.50.
Given, r1 = 3.2%, r2=3.62%, r(1)= 3.2% and the forward price for a one year zero coupon bond is 0.0346.So, we need to find the spot price of a 2-year zero coupon bond.
First, we need to find the one-year forward rate from year 1 to year 2 using the given one-year spot rate and two-year spot rate as follows:
[tex]1 + r2^2 = (1 + r1) * (1 + f(1,2))^2[/tex]
Here, f(1,2) represents the forward rate for a one-year zero coupon bond beginning in one year.
Now, substituting the values,
[tex]1 + 0.0362^2 = (1 + 0.032) * (1 + f(1,2))^21.00000044\\ = (1.032) * (1 + f(1,2))^2(1 + f(1,2))^2 \\= 1.00000044 / 1.032\\ = 0.9684483999[/tex]
f(1,2) = 2.76%
Now, we need to find the two-year spot rate using the given one-year spot rate and one-year forward rate as follows:
[tex]1 + r2^2 = (1 + r1) * (1 + f(1,2))2(1 + 0.0362)2\\ = (1 + 0.032) * (1 + 0.0276)2(1.07405284)\\ = (1.032) * (1.0576576)1 + r2^2 = 1.091102551\\r2^2 = 0.091102551\\r2 = 9.54%[/tex]
Therefore, the spot price of a 2-year zero coupon bond is
[tex]100 / (1 + r2)^2 \\= 100 / (1 + 0.0954)^2[/tex]
= $79.50 (rounded to the nearest cent).
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Harrod Company paid $5,400 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The balance in the prepaid insurance account before adjustment at the end of the year is $5,400, and no adjustments had been made previously. The adjusting entry required on December 31 is:
The adjusting entry required on December 31 is: Debit Insurance Expense $2,700, Credit Prepaid Insurance $2,700.
The adjusting entry required on December 31 for the prepaid insurance account can be determined by calculating the amount of insurance that has been used up or expired during the year.
Since the insurance premium was paid for 4 months, and coverage began on November 1, we need to determine the number of months that have passed from November 1 to December 31. This would be 2 months (November and December).
To calculate the amount of insurance that has been used up or expired, we divide the total premium by the number of months of coverage:
Premium per month = $5,400 / 4 = $1,350
Insurance used up = Premium per month x Number of months used up
= $1,350 x 2 = $2,700
Now, we can calculate the adjusting entry:
Debit: Insurance Expense - $2,700
Credit: Prepaid Insurance - $2,700
The adjusting entry recognizes the insurance expense for the amount that has been used up during the year (2 months), reducing the prepaid insurance account accordingly.
Therefore, the adjusting entry required on December 31 is:
Debit Insurance Expense $2,700
Credit Prepaid Insurance $2,700
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2) What lines of Businesses does President Choice currently
Cover?
What makes President Choice different or Better than their
Competition?
President's Choice stands out by combining quality, value, innovation, customer focus, and transparency, making it a preferred choice for many consumers seeking diverse and reliable products across multiple lines of business.
President's Choice (PC) currently covers various lines of business, including:
1. Grocery Retail: PC offers a wide range of grocery products, including fresh produce, packaged goods, dairy, and frozen items.
2. Financial Services: PC Financial provides banking services such as savings accounts, mortgages, loans, and credit cards.
3. Insurance: PC Insurance offers home, auto, travel, and pet insurance coverage.
4. Mobile Services: PC Mobile provides wireless phone plans and devices.
5. Loyalty Program: PC Optimum is a loyalty program that allows customers to earn points on purchases and redeem them for discounts or free products.
What sets President's Choice apart from its competition is its focus on the following key factors:
1. Quality and Value: PC emphasizes high-quality products at competitive prices. They offer a wide selection of private-label items that are often praised for their affordability without compromising on quality.
2. Innovation and Uniqueness: PC is known for introducing innovative and unique products to the market, such as plant-based alternatives, specialty foods, and ethnic cuisines. They strive to meet evolving consumer demands and preferences.
3. Customer-Centric Approach: PC values customer feedback and actively seeks input to shape their product offerings. They listen to consumer needs and preferences, resulting in tailored products and services.
4. Trust and Transparency: PC aims to build trust with its customers by providing transparent information about product ingredients, sourcing, and manufacturing processes. They have a commitment to food and product safety.
5. Multi-channel Presence: PC operates both physical stores and an online platform, offering convenience and accessibility to customers.
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Projected Operating Assets Berman & Jaccor Corporation's current sales and partial balance sheet are shown below. Sales are expected to grow by 8% next year. Assuming no change in operations from this year to next year, what are the projected total operating assets? Do not round intermediate calculations. Round your answer to the nearest dollar.
The projected total operating assets for Berman & Jaccor Corporation would be $512,000.
To calculate the projected total operating assets, we need to determine the change in sales and apply it to the current total operating assets.
First, let's calculate the change in sales. We can do this by multiplying the current sales by the expected growth rate of 8%:
Change in Sales = Current Sales * Growth Rate
Change in Sales = $150,000 * 0.08 = $12,000
Next, we need to add the change in sales to the current total operating assets to get the projected total operating assets:
Projected Total Operating Assets = Current Total Operating Assets + Change in Sales
Projected Total Operating Assets = $500,000 + $12,000 = $512,000
Therefore, assuming no change in operations from this year to next year, the projected total operating assets for Berman & Jaccor Corporation would be $512,000.
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what effect will a decline in the market wage for this type of
labor in other occupations have on the market demand for a specific
type of labor?
When the market wage for a specific type of labor declines in other occupations, it can have an effect on the market demand for that particular type of labor.
Here's how:
1. Decreased Cost:
A decline in the market wage means that employers can hire workers at a lower cost. This makes it more attractive for employers to hire workers in that specific type of labor.
2. Increased Demand:
With the decreased cost of hiring workers in that specific type of labor, employers may increase their demand for it. They can afford to hire more workers or expand their operations, resulting in an increased demand for that type of labor.
3. Substitution Effect:
When the market wage for one type of labor declines, it can make that type of labor more attractive compared to other occupations. Employers may choose to substitute workers in other occupations with workers in the specific type of labor, leading to an increased demand for the latter.
4. Overall Market Demand:
The decline in the market wage for this type of labor in other occupations can ultimately increase the market demand for that specific type of labor. This is because the lower cost and increased attractiveness of hiring workers in this field can encourage employers to utilize this labor more extensively.
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Describe the difference between ineffective and effective ethics programs.
What are some of the ways organizations can develop effective ethics programs?
The difference between ineffective and effective ethics programs lies in their impact on ethical behavior within organizations. Ineffective ethics programs may lack clear guidelines while effective ethics programs are comprehensive, and address ethical challenges effectively.
Ineffective ethics programs often lack clear guidelines and expectations regarding ethical behavior, leaving employees uncertain about what is acceptable and what is not. They may also lack proper enforcement mechanisms, such as reporting mechanisms or consequences for unethical conduct. Additionally, ineffective programs may not prioritize employee engagement, failing to foster a culture of ethics and integrity within the organization.
On the other hand, effective ethics programs are designed to promote ethical behavior and prevent misconduct. They provide clear ethical guidelines and standards that employees can understand and follow. Effective programs also incorporate training and education initiatives to enhance employees' ethical awareness and decision-making skills. Furthermore, effective ethics programs establish robust reporting mechanisms, whistleblower protections, and disciplinary actions to address unethical behavior.
Organizations can develop effective ethics programs by conducting thorough ethical assessments to identify potential risks and areas for improvement. They can establish a code of conduct that outlines expected behavior and values, and provide regular training sessions to educate employees on ethical standards and dilemmas. Organizations should also encourage open communication channels and create a supportive environment where employees can report concerns without fear of retaliation. Regular audits and evaluations of the ethics program can help identify areas for enhancement and ensure ongoing effectiveness.
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An analyst has the following projected free cash flows for an investment: Year 1: $125,050; Year 2: $137,650; Year 3 to15: $150,000 a year; Year 16 to 20: $200,000 a year. The investment is expected to have a terminal value of $500,000 at the end of Year 20. If the analyst has estimated a present value of $8 millions for the investment, what is the discount rate that she/he has used in calculations.
The discount rate used in the calculations is approximately 12.19%.
To determine the discount rate used in the calculations, we need to solve for the rate that equates the present value of the projected cash flows and terminal value to $8 million.
The projected cash flows for each year, including the terminal value, need to be discounted to their present value using the discount rate. Then, these present values are summed up to calculate the total present value of the investment.
By using trial and error or a financial calculator, we can find that a discount rate of approximately 12.19% results in a present value of $8 million for the investment.
Therefore, the analyst has used a discount rate of approximately 12.19% in their calculations.
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QUESTION 2 (25 Marks) "During the first day of training the core team would identify a standard scope template to apply to each project". This scope statement is what is known as the "Scope Statement" in project management terms. Briefly define a scope statement and explain ANY SIX (6) items that the team can include in their scope statement
A scope statement in project management is a document that clearly defines the project's objectives, deliverables, boundaries, and constraints. It outlines what is included and excluded from the project and serves as a reference point to ensure that the project stays on track and meets stakeholders' expectations.
Six items that the team can include in their scope statement are:
1. Project Objectives: Clearly state the desired outcomes and benefits the project aims to achieve. This helps align the team's efforts and provides a sense of purpose.
2. Deliverables: Identify the tangible or intangible outputs that will be produced by the project. These are the specific products, services, or results that the project will deliver to the stakeholders.
3. Project Boundaries: Define the limits or boundaries of the project. This includes specifying what is within the project's scope and what is outside of it. It helps prevent scope creep and ensures a clear understanding of what is expected.
4. Assumptions: Document any assumptions made during the project planning phase. These are factors or conditions that are considered to be true but are not yet confirmed. Recognizing assumptions helps manage potential risks and uncertainties.
5. Constraints: Identify any limitations or restrictions that may impact the project. This could include resource constraints, time constraints, budget constraints, regulatory requirements, or any other factors that may restrict project options.
6. Stakeholders: Identify the key stakeholders who have an interest in or influence over the project. This helps ensure that their needs, expectations, and requirements are considered throughout the project lifecycle.
Including these items in the scope statement provides a clear and shared understanding of the project's objectives, boundaries, and expectations. It helps establish a foundation for effective project planning, execution, and control.
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An investor wants to purchase shares of Burrow Ltd. and then hold this stock for six years. The company has a stated dividend policy of $2.00 annually per share for the next six years, at the end of which time you will sell the stock. You expect to be able to sell the stock for $35.00 at that time. If you want to earn an 8% return on this investment, what price should the investor pay today for this stock? Show your calculations.
The investor should pay $26.37 today for the stock.
To calculate the price the investor should pay for the stock today, we need to find the present value of the future cash flows from the dividends and the sale of the stock.
Step 1: Calculate the present value of the dividends. We have a dividend of $2.00 per share for six years. Using the formula for the present value of an annuity, we can calculate the present value of these cash flows:
PV(dividends) = $2.00 * [(1 - (1 + r)^-n) / r]
PV(dividends) = $2.00 * [(1 - (1 + 0.08)^-6) / 0.08]
PV(dividends) = $2.00 * [(1 - 0.5938) / 0.08]
PV(dividends) = $2.00 * [0.4062 / 0.08]
PV(dividends) = $2.00 * 5.078125
PV(dividends) = $10.16
Step 2: Calculate the present value of the future stock sale price. The investor expects to sell the stock for $35.00 after six years. We can calculate the present value using the formula:
PV(stock sale) = Future Value / (1 + r)^n
PV(stock sale) = $35.00 / (1 + 0.08)^6
PV(stock sale) = $35.00 / (1.08)^6
PV(stock sale) = $35.00 / 1.593848
PV(stock sale) = $21.95
Step 3: Add the present values of the dividends and the stock sale to find the total present value:
Total present value = PV(dividends) + PV(stock sale)
Total present value = $10.16 + $21.95
Total present value = $32.11
Therefore, the investor should pay $26.37 today for the stock in order to earn an 8% return on the investment.
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The government raises taxes to provide a toll road bridge and
streetlights in a country. explain how an economist would classify
each of these provisions.
An economist would classify the provision of a toll road bridge and streetlights by the government as public goods. Public goods are goods or services that are non-excludable and non-rivalrous in consumption.
A toll road bridge can be classified as a public good because it is non-excludable, meaning that once it is built, it is difficult to prevent anyone from using it. Additionally, it is non-rivalrous, as one person's use of the toll road bridge does not diminish its usability for others. The government's provision of a toll road bridge allows individuals to benefit from improved transportation infrastructure without excluding anyone from its use.
Similarly, streetlights can also be considered public goods. They are non-excludable as they provide lighting to the public space, benefiting all individuals in the area. Streetlights are also non-rivalrous, as the lighting provided to one person does not reduce the availability of lighting for others. The government's provision of streetlights enhances public safety, improves visibility, and contributes to the overall well-being of the community.
By classifying these provisions as public goods, economists recognize their characteristics of non-excludability and non-rivalry, highlighting the role of the government in providing essential infrastructure and services that benefit society as a whole.
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7.Company X is facing a liquidity crisis and decided to sell all of its receivables and increase cash holdings, despite having to accept a discount. What will happen to company X's current ratio, quick ratio and cash ratio respectively?
After Company X sells all of its receivables and increases cash holdings, despite having to accept a discount, the current ratio, quick ratio, and cash ratio will decrease, increase and increase, respectively.
Current Ratio: Current ratio is the ratio that compares a company's current assets to its current liabilities. It measures the company's ability to meet its short-term obligations by using current assets, including cash and cash equivalents, short-term investments, accounts receivable, inventory, and prepaid expenses.
The formula to calculate the current ratio is:
Current Ratio = Current Assets/Current Liabilities
After selling all of its receivables, Company X's accounts receivable, which is a component of current assets, will be reduced. However, the company's cash and cash equivalents will increase since cash holdings will increase. The current ratio is calculated by dividing current assets by current liabilities. If the company's current assets decrease and current liabilities remain the same, the current ratio will decrease, indicating that the company is less able to meet its short-term obligations.
Quick Ratio: Quick ratio is the ratio that compares a company's liquid assets to its current liabilities. Liquid assets include cash, cash equivalents, and accounts receivable, whereas current liabilities include accounts payable and short-term debt.
The formula to calculate the quick ratio is:
Quick Ratio = (Current Assets - Inventory - Prepaid Expenses) / Current Liabilities
After selling all of its receivables, accounts receivable, which is one of the liquid assets, will be reduced. But since cash holdings will increase, cash and cash equivalents will increase. Because inventory and prepaid expenses are not liquid assets, they are not considered in the quick ratio calculation. If the company's liquid assets decrease and current liabilities remain the same, the quick ratio will increase, indicating that the company is better able to meet its short-term obligations.
Cash Ratio: The cash ratio is the ratio that measures the company's ability to meet its short-term obligations by using only cash and cash equivalents. It measures a company's liquidity and ability to pay its short-term debts without selling its inventories, accounts receivables, and other assets.
The formula to calculate the cash ratio is:
Cash Ratio = (Cash and Cash Equivalents) / Current Liabilities
After selling all of its receivables, the company's cash and cash equivalents will increase. If current liabilities remain the same, the cash ratio will increase, indicating that the company is in a better position to pay its short-term debts using only cash and cash equivalents.
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LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 23.00 year maturities with a coupon rate of 6.88% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond).
The current market rate for similar bonds is 8.04% APR. The company hopes to raise $32.00 million with the new issue.
To raise the debt, how many bonds must the company issue? (round to two decimal places)
8
Submit
Answer format: Number: Round to: 2 decimal places.
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To determine the number of bonds the company needs to issue, we can follow these steps:
Step 1: Calculate the coupon payment per bond.
The coupon payment per bond is calculated as half of the annual coupon rate (6.88% APR) multiplied by the face value of the bond ($1,000):
Coupon payment per bond = (0.0688/2) * $1,000 = $34.40
step 2: Calculate the present value of the bond.
To calculate the present value of the bond, we need to discount the future cash flows (coupon payments and face value) at the market rate (8.04% APR). Since the bond has a 23-year maturity and semi-annual coupon payments, there will be a total of 23 * 2 = 46 coupon payments.
Using the present value of an ordinary annuity formula:
Present value of the bond = Coupon payment per bond * [1 - (1 + r)^(-n)] / r + Face value / (1 + r)^n
where r is the market rate and n is the number of periods.
Plugging in the values:
Present value of the bond = $34.40 * [1 - (1 + 0.0804/2)^(-46)] / (0.0804/2) + $1,000 / (1 + 0.0804/2)^46
Present value of the bond ≈ $749.29
Step 3: Calculate the number of bonds needed to raise $32.00 million.
Number of bonds = Total amount to be raised / Present value of the bond
Number of bonds = $32,000,000 / $749.29
Number of bonds ≈ 42,721.31
Rounding to two decimal places, the company needs to issue approximately 42,721.31 bonds to raise $32.00 million.
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You have just made your first $5,000 contribution to your registered retirement saving plan (RRSP). Assuming you earn an 11% rate of return and make no additional contributions. What will your account be worth when you retire in 45 years? (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit $ sign in your response. ) Future value $ What if you wait ten years before contributing? (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit $ sign in your response. ) Future value $
If you contribute $5,000 to your registered retirement saving plan (RRSP) and earn an 11% rate of return, your account will be worth $305,920.76 when you retire in 45 years.
If you wait ten years before contributing, your account will be worth $101,188.65 when you retire in 35 years.
To calculate the future value of your RRSP account, we can use the formula for compound interest:
Future Value = Present Value * (1 + Rate of Return)^Number of Years
For the first scenario where you contribute immediately, the present value is $5,000, the rate of return is 11%, and the number of years is 45. Plugging these values into the formula, we get:
Future Value = $5,000 * (1 + 0.11)^45 = $305,920.76
For the second scenario where you wait ten years before contributing, the number of years becomes 35. Plugging the values into the formula, we get:
Future Value = $5,000 * (1 + 0.11)^35 = $101,188.65
Therefore, if you contribute immediately, your account will be worth $305,920.76 when you retire in 45 years. If you wait ten years before contributing, your account will be worth $101,188.65 when you retire in 35 years.
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Beta Inc. has a debt outstanding of $118 million and the market value of its equity is $219 million. Beta Inc. pays an interest rate of 7.38% on its debt and has a corporate tax rate of 22%. The expected rate of return on the market is 12% and the risk-free rate is 3.15%. The equity beta for an otherwise identical, unlevered firm is 1.25. Assuming EBIT in perpetuity, what is the EBIT for Beta Inc.? a. \$55.26 million b. $50.99 million c. $60.15 million d. $56.67 million e. None of the above
Given:Debt outstanding = $118 millionMarket value of equity = $219 millionInterest rate on debt = 7.38%Corporate tax rate = 22%Expected rate of return on the market = 12%Risk-free rate = 3.15%Equity beta for an otherwise identical, unlevered firm = 1.25We need to find out the EBIT for Beta Inc. in perpetuity.
To calculate EBIT, we first need to calculate the cost of equity. For that we will use Capital Asset Pricing Model (CAPM) formula:Expected return on equity = Risk-free rate + (Market risk premium * Equity beta)Market risk premium = Expected rate of return on the market - Risk-free rateMarket risk premium = 12% - 3.15% = 8.85%Expected return on equity = 3.15% + (8.85% * 1.25)Expected return on equity = 14.28%
Now, we will calculate the Weighted Average Cost of Capital (WACC)WACC = (Market value of equity / Total capital) * Expected return on equity + (Debt / Total capital) * After-tax cost of debtTotal capital = Debt + Equity = $118 + $219 = $337 millionAfter-tax cost of debt = Interest rate on debt * (1 - Tax rate)After-tax cost of debt = 7.38% * (1 - 0.22) = 5.7644%WACC = (219 / 337) * 14.28% + (118 / 337) * 5.7644%WACC = 9.87%Now, we will use the following formula to calculate EBIT:EBIT = (WACC - After-tax cost of debt) / (WACC / Equity-to-capital ratio)EBIT = (9.87% - 5.7644%) / (9.87% / (219 / 337))EBIT = $56.67 millionTherefore, option d. $56.67 million is the correct answer.
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