Finish CLA 1 paper, the time is California time, you just follow the guide or sample to change the words, the data you can copy and paste from sample or guide
1. Week 4-310 CLA 1 Comprehensive Learning Assessment I – CLO 5, CLO 6 1-The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in the following table for total cost, average variable cost, average total cost, and marginal cost. Quantity Variable Cost Fixed Cost 0 0 $30 1 $10 $30 2 $25 $30 3 $45 $30 4 $70 $30 5 $100 $30 6 $135 $30 2- Based on your answers to the WipeOut Ski Company in question 1, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of $25 each. a. What will be the company’s profits or losses? b. How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? c. At the given quantity and price, is the marginal unit produced adding to profits? 3-A computer company produces affordable, easy-to-use home computer systems and has fixed costs of $250. The marginal cost of producing computers is $700 for the first computer, $250 for the second, $300 for the third, $350 for the fourth, $400 for the fifth, $450 for the sixth, and $500 for the seventh. a. Create a table that shows the company’s output, total cost, marginal cost, average cost, variable cost, and average variable cost. b. At what price is the zero-profit point? At what price is the shutdown point? c. If the company sells the computers for $500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVC curves to illustrate your answer and show the profit or loss. d. If the firm sells the computers for $300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVC curves to illustrate your answer and show the profit or loss. *Please refer to the Grading Criteria for Comprehensive Learning Assessments (CLAs) in the University Policies for specific guidelines and expectations. 1. Week 4-320 CLA 1 Comprehensive Learning Assessment I – CLO 1, CLO 2, CLO 3, CLO 4, CLO 5 Quality Associates, Inc., a consulting firm, advises its clients about sampling and statistical procedures that can be used to control their manufacturing processes. In one particular application, a client gave Quality Associates a sample of 800 observations taken during a time in which that client’s process was operating satisfactorily. · The sample standard deviation for these data was .21; hence, with so much data, the population standard deviation was assumed to be .21. · Quality Associates then suggested that random samples of size 30 be taken periodically to monitor the process on an ongoing basis. · By analyzing the new samples, the client could quickly learn whether the process was operating satisfactorily. When the process was not operating satisfactorily, corrective action could be taken to eliminate the problem. · The design specification indicated the mean for the process should be 12. · The hypothesis test suggested by Quality Associates follows. Corrective action will be taken any time H0 is rejected. The following samples were collected at hourly intervals during the first day of operation of the new statistical process control procedure. These data are available in the data set Quality. (See further instructions on next page) Managerial Report 1. Conduct a hypothesis test for each sample at the .01 level of significance and determine what action, if any, should be taken. Provide the test statistic and p-value for each test. 2. Compute the standard deviation for each of the four samples. Does the assumption of .21 for the population standard deviation appear reasonable? 3. Compute limits for the sample mean x around m = 12 such that, as long as a new sample mean is within those limits, the process will be considered to be operating satisfactorily. If x exceeds the upper limit or if x is below the lower limit, corrective action will be taken. These limits are referred to as upper and lower control limits for quality control purposes. 4. Discuss the implications of changing the level of significance to a larger value. What mistake or error could increase if the level of significance is increased?