Programming

Assessment 2 : Problem Statement

Car Parking Management – Arena Simulation

Cars arrive and depart from a 5 stall parking lot using the statistical Information (requirements) as shown below:

  • Entity Picture  Car picture
  • Maximum Arrival 100 entities (all entities should have been processed
  • Inter-arrival Rate:  expo (5 minutes).
  • Cars park into any available space. The parking time is random from triangular distribution  0, 20, 65 (minutes)
  • The parking lot should include a roundabout entrance and roundabout exit
  • Entity (cars) that arrives to a full parking lot would loop around the roundabout entrance/exit . When no space is available, 20% of the cars would leave the parking whether it was during the first attempt or the second attempt.
  1. Cars arrive first attempt, some cars park, some cars leave (20%) and some cars attempts again (80%)
  2. Those cars who attempt for the second time again some cars park and some leave (20%) and some cars attempts again (80%).
  3. The third attempt either the cars find a parking or they leave.
  • Priority to park for those who arrived earlier
  • Use visual animation features to model the simulation. The animation should be very clear. The parking rules should be realistic.
  • The above design is the simplest but maybe not ideal.

Submission Requirements:

DOE file(s)

Report:

Present your work as a managerial report and should be of professional quality. The report should include sections: Abstract (aim and results), Introduction (applicability, Objectives), Model overview, Parameter values, Results (Statistics), Analysis of Results/Interpretation, Conclusion and Recommendations and any assumptions made.

Discussing the important statistical indicators

Discuss the need to increase the # of car parking lots

Discuss the through output/performance of the system

Include references (use APA referencing style)

  • The problem needs to be solved by Arena Simulation Software.

Computer Science

​Incident Response and Endpoint Monitoring using Velociraptor: In this project, the researcher will be required to configure and perform network intrusion and cyber incident response using Velociraptor open-source SIEM set up on a vulnerable Windows PC virtual machine. You will be required to also configure ​‌‍‍‍‌‍‌‍‌‍‍‍‌‌‌‍‍‌‌‍​a Linux server which will be used to identify different attack signatures. Also I will be given the weaknesses and strengths of velociraptor comparing to splunk application

Finance Assignment

 Assignment Brief

Module Code and Title    FIN7C6 Quantitative Research Methods for Finance  
Assignment Number & Title      Assesment 1: Individual coursework
Assessment Type (e.g. Presentation, Essay, Report etc.)    Report
Weighting of assessment (%TMM)50%
Assessment Learning OutcomesA4:    Identify and critically analyse both quantitative and qualitative data and information related to investment and finance. B4:   Use a range of effective communication, numerical, IT and media skills to access,    interpret, manage, evaluate and present financial data and information. B5:   Enhance capability in organisational and time management skills.  
Module Leader
Internal Reviewer
External Examiner
  Submission Details  
Submission Deadline25/03/2022
Release of Feedback08/04/2022
Completing Your Assignment  
What am I required to do in this assignment?   The purpose of this coursework is to understand the features of a set of managerial, economic or financial variables and be able to find how they are linearly related by using regression methods. Use Excel or Eviews to perform calculations.   Find a relevant research question associated to the dataset.  The statistical analysis will help you to find answers to that question.  Submit a written report intended for a professional audience. Your report should contain  :   • Abstract – summarise objective, contents of the study and conclusions  • Introduction (300 words) – present a relevant financial question and its motivation/justification based on relevant references. • Litterature review (300 words) – summarise the main sources related to the research question • Methodology (500 words)- describe the methods and procedures used for this project • Data description  (600 words)- describe statistically the variables • Analysis and Findings (600 words) – analyse the covariance/correlation structure of the data set taking into account the previous data description. • Conclusions and Recommendations (200 words)  • References   Supplementary calculations and intermediate results should be supplied in appendices at the end of your report in the form of tables or graphs. Relevant and important graphs and tables should be part of the report.   There is maximum word limit of 2500 words. This is an INDIVIDUAL assignment. The assignment will be submitted as word document (.doc) on blackboard by 25th march 2022 (week 8) at 23.58. The Excel data file and excel output files related to the material presented on the assignment need to be uploaded to a specific shared folder by deadline. All the data should be organized in one Excel file named FIN5B1-StudentName-StudentNumber.      The following tasks will guide you through the econometric analysis:  Find a data set: Choose a data set with 3 variables (One different dataset per student). And organise the data in a Excel file. Describe the sample in terms of number of observations and frequency. Present the dataset using a relevant graph and explain the main features of each variable. Explain your intuition about dependent and independent variables.Data description: Discuss and describe your data as well as the reason(s) for your choice of data and using “Descriptive Statistics” for each variable (Variables X1,X2 and X3)Plot all variables and comment on graph(s).  Transform your prices/level variables into returns. (Rename the variables: x1, x2, x3)Describe statistically the transformed data set (plot it) and comment about your results.Plot each Xi (xi) variable against the Xj (xj)  variable in a scatter plot and comment about the relation between each pair of variables based on a covariances and correlation analysis. Regression analysis:Then regress the dependent variable against the set of independent variables with a multiple regression model or a set of simple regressions. Explain and interpret the results.Analyse the results of the regression in terms of coefficients and associated t-statistics, R squared (adjusted) and F-statistic.Perform a residual analysis – explain and interpret the resultsPerform a robustness analysis – explain and interpret the resultsChoose one of the estimators to build a relevant forecast  – explain and interpret the resultsConclusions: Using the main results of your analysis, conclude about all these results trying to find ideas or models that could be used to improve the analysis.  
 
Is there a size limit?   maximum word limit of 2500 words (without abstract and references – +/-10% is tolerated)
 
What do I need to do to pass? Threshold criteria i.e. achievement of the learning outcome at the pass/fail boundary   Each part of the research report meets the requirements as described in the marking criteria table (scale 3):   Provide an adequate description of the research question and its motivation. Analyse some references and related them to the question. Demonstrate some knowledge of the methods applied. Give an adequate description of the practical procedure or the plan for the work.Give an adequate presentation of the data set with some statistics graphs or tables.Apply the methods and an interpret the results. Provide a minimum set of conclusions with some responses to the question.Respect part of the deadlines and part of the instructions.  
 
How do I produce high quality work that merits a 70% or above grade?   Each part of the research report meets the requirements as described in the marking criteria table (scale 6): Excellent description of the topic and motivation. Many references properly analysed and clearly related to the question.Excellent knowledge of the methods. High standard description of the practical procedure and the plan for the work.  Very clear presentation of the data set with main statistics graphs or tables correctly explained.Excellent application of the methods and interpretation of results.Conclusions clearly presented with many responses to the question.The student has regularly submitted hightly complete steps of the coursework.  Most of the deadlines and instructions have been respected.    
 
How does assignment relate to what we are doing in the scheduled sessions?   Part of the sessions are dedicated to help the students master the basic tools to collect and analyse data.    
 
How will I receive formative feedback for this assignment?   There will be an opportunity to submit the outcome of the econometric analysis (steps 1 and 2) on week 6 (11th of March 2022). A general feedback will be provided on week 7 during and a written/oral personalized feedback will be given individually on week 7-8.

  Marks and Feedback  
How will my assignment be marked?
  Your assignment will be marked according to the threshold expectations above and the marking criteria below. You can use them to evaluate your own work and estimate your grade before you submit.   Marking Criteria Table   Postgraduate Programmes     Grade Marking Criteria and Weighting Introduction Conclusion Presentation (25%) Literature Review (10%) Methodology  (15%) Data Description (25%) Analysis and findings  (25%) 90-100   Common Assessment Scale 8 Convincing and exceptionnaly clear description of the topic and motivation. Conclusions skilfully presented with overall response to the question. Critically reviewed references clearly articulated to the research question. Exceptionally good knowledge of the methods. In depth description of the practical procedure and the plan for the work. Exceptionally clear presentation of the data set with relevant statistics, graphs and tables perfectly explained. Exceptionnaly good application of the methods and precise interpretation of results. 80-89   Common Assessment Scale 7 Excellent description of the topic and motivation. Conclusions clearly presented with overall response to the question. Many references clearly articulated to the research question with some critical comments. Outsanding knowledge of the methods. In depth description of the practical procedure and the plan for the work. Outstanding presentation of the data set with main statistics graphs or tables correctly explained. Outstanding  application of the methods and interpretation of results.   70-79   Common Assessment Scale 6 Excellent description of the topic and motivation. Conclusions clearly presented with many responses to the question. Many references properly analysed and clearly related to the question. Excellent knowledge of the methods. High standard escription of the practical procedure and the plan for the work.   Very clear presentation of the data set with main statistics graphs or tables correctly explained. Excellent application of the methods and interpretation of results.   60-69   Common Assessment Scale 5 Very good description of the topic and motivation. Very good conclusions presented with many responses to the question. A good amount of references properly analysed and related to the question. Good knowledge of the methods. Very good description of the practical procedure and the plan for the work.   Clear presentation of the data set with main statistics graphs or tables correctly explained. Very good application of the methods and interpretation of results.   55-59   Common Assessment Scale 4 Apropriate description of the topic and motivation. Good conclusions presented with some responses to the question. Some references partially analysed and related to the question. Some knowledge of the methods. Good description of the practical procedure or the plan for the work.   Apropriate presentation of the data set with some statistics graphs or tables. Appropriate application of the methods and interpretation of results.   50-54   Common Assessment Scale 3 Adequate description of the topic and motivation. Minimum conclusions presented with some responses to the question. Some references partially analysed and barely related to the question. Some knowledge of the methods. Barely adequate description of the practical procedure or the plan for the work.   Barely adequate presentation of the data set with some statistics graphs or tables. Mediocre application of the methods and interpretation of results.   36-49   Common Assessment Scale 2 Poor description of the topic and motivation. Few conclusions and responses to the question. Few references not properly analysed and related to the question. Poor knowledge of the methods. Missing description of the practical procedure or the plan for the work.   Poor presentation of the data set with few statistics, graphs or tables. Poor analysis of the results.   21-35   Common Assessment Scale 1 Very poor description of the topic. Very poor Conclusions. Very poor references. Very poor methodology Very poor presentation of the dataset Very poor analysis   0-20   Common Assessment Scale 0 Missing introduction or conclusion No references Missing methodology No dataset No analysis

Regent’s University Generic Descriptors

BandConversion scale for UG ProgrammesConversion scale for PG ProgrammesGeneric descriptors
890 – 10090 – 100All learning outcomes and task specifications have been achieved to an exceptionally high standard (according to the level of study).   The outcome of the assessment task is presentable in a professional context and may extend practical or theoretical knowledge in the field. It displays an exceptionally high level of understanding, evaluation, insight, analysis, reflection and/or criticality (according to the level of study), and connections are developed both within and beyond the task set.   The work’s organisation, structure and presentation are developed to an exceptionally high standard.
780 – 8980 – 89All learning outcomes and task specifications have been achieved to an outstanding standard (according to the level of study).   The outcome of the assessment demonstrates an outstanding display of understanding, exploration, evaluation, insight, analysis, reflection, criticality and/or research (according to the level of study). Connections are developed both within and beyond the task set.   The work’s organisation, structure and presentation are developed to an outstanding standard.
670 – 7970 – 79All learning outcomes and task specifications have been achieved to high standard (according to the level of study).   The outcome of the assessment demonstrates an excellent display of understanding, exploration, evaluation, insight analysis, reflection, criticality and/or research (according to the level of study), and connections are developed both within and beyond the task set.   The work’s organisation, structure and presentation may be developed to an excellent standard.
560 – 6960 – 69All learning outcomes have been achieved at a good and some to a very good standard (according to the level of study).   The outcome of the assessment demonstrates a very good level of understanding, exploration, evaluation, analysis, reflection, criticality, some insight and/or very good research (according to the level of study), and connections are established within the task set, and in some cases reaching beyond.   The work’s organisation, structure and presentation may be developed to a very good standard.
450 – 5955 – 59Most learning outcomes have been met at a good standard (according to the level of study).   The outcome of the assessment demonstrates a good understanding, exploration, evaluation, analysis, and some reflection, criticality and/or appropriate research. (According to the level of study)   The work’s organisation, structure and presentation may be appropriately developed.
340 – 4950 – 54All learning outcomes have been met to a minimum satisfactory standard (according to the level of study).   The outcome of the assessment shows an adequate understanding, of major ideas, with little insight and basic research. Limited level of analysis, reflection and/or criticality (according to the level of study).   The outcome of the task shows ability to paraphrase concepts and theories, with limited ability to make connections.   The work may be disorganised, and the structure and presentation may be barely adequate.
230 – 3936 – 49Most learning outcomes have almost been met, whilst the rest have not (according to the level of study).   The outcome of the assessment shows a limited understanding of major ideas, with little insight, very basic research, and very limited ability to make connections. No analysis, reflection and/or criticality (according to the level of study)   The work may be disorganised, and the structure and presentation may be barely adequate.
111 – 2921 – 35The majority of the learning outcomes have not been met (according to the Level). The outcome of the assessment task is incomplete, flawed, very limited and/or presents significant inaccuracies.   The outcome of the assessment shows very limited understanding with no insight, and very limited ability to make connections within basic ideas in the field, very fragmented. Lacks research. No analysis, reflection or criticality (according to the level of study)   The work is disorganised, and unstructured. Presentation is barely adequate.
00 – 100 – 20None of the learning outcomes have been met. The task has not been addressed by the student, or there is no assessable task.   The outcome of the assessment shows no understanding of basic ideas, with no insight and shows no ability to make connections within basic ideas in the field, or the connections are completely irrelevant. Lacks research. No understanding, analysis, reflection nor criticality.   The work completely lacks organisation and structure. Presentation is completely inadequate.

Masters/Ph.D. Dissertation Proposal Oral Defense Slides

You have completed your thesis proposal, and it is now time to make a presentation. This part, just like the rest, is vital since it will determine how soon your name will find its way to the graduation list. Here are a number of issues that one needs to consider when preparing for an oral presentation.

Time Recommendation for The Oral Presentation

Ensure that your oral defense PowerPoint covers a minimum of 20 minutes but can go as high as 40 minutes. Also, remember to reserve some time for questions and answers. Overall, your defense should take a maximum of two hours.

Usually, the student, the chair, and a second committee member will attend the oral defense. However, if your member doesn’t show up, the chair can proceed to conduct the excise. The member who misses the event will review it later and provide their vote.

As you prepare for the defense, ensure to take time and proofread the slides. Makes edits where possible. Each slide should contain the same background and font.

Notes of Your Oral Defense

Be keen not to use many colors to avoid distractions.

Before stepping into that defense room, rehearse, rehearse, and rehearse and have it at the back of your mind that time is of the essence and, therefore, should be kept. Your appearance needs to be professional and maintain a smooth flow of your content all along the presentation. Avoid the temptation of reading the slides to your audience as this might create a wrong impression to you assessors. Your slides have the sole purpose of being a guide. Where possible, employ graphics relevant to your topic to help to put your points across.

Graphic Suggestion

Notably, PowerPoint presentation needs to contain insignificant verbiage

It should have a maximum of five bullet points or say two brief sentences.

What Happens During Your Defense?

In case you conduct the defense on the mobile phone or PC with your committee members, forward your slides to them before presentation time.

First, you will make your presentation, and then the committee will present their questions to you for answers.

During the Oral Defense

The committee makes a vote

The presentation is accepted or accepted but needs a few revisions here and there under the chair’s supervision.

On the other hand, the presentation may be declined. In such an instance, one will be required to make significant changes subject to committee review, but no oral presentation is required.

Also, the presentation may be declined and major revisions demanded by the committee members subject to their review with additional oral presentation.

Now, it is time to delve how your proposal PowerPoint should be like

The slide (Title Page) should contain;

Your name

Presentation date

The degree program you are enrolled in and are of specialization

Proposal oral defense

The following slide should contain the background of your research

In this area, provide a summary of your literature research concerning the topic. Provide a vivid explanation regarding the gap in the knowledge your study will address

Problem Statement

Expressly state the research problem. As a researcher, you ought to give evidence of consensus that indeed your problem is current and significant to the discipline. Importantly, your problem should be designed so that it either builds upon or counters the research already carried out. 

Purpose of Study

Your committee members need to know whether your study is qualitative or quantitative or if it takes a mix of the two has been employed. Ensure to discuss the study’s intent and remember to provide both the independent, dependent variables and covariate variables as may be applicable.

Design/method

In the slides above, you have stated the method to be applied in your research. In the design/method part, you need to tell your assessors what you chose above will help you accomplish. In this case, you will need to say such statements as “employing this method will enable me to…..”

Sample size or participants

In this part, state your intent to use either secondary data or primary data in a bid to accomplish your goal. This is the point where you will point out where you have selected your sample size from. Also, provide the criteria you used to include or exclude the participants. Additionally, give the power calculations in a quantitative study or the proposed sample size in qualitative research.

Collection of data

State the criteria you will use to collect your data, either primary or secondary data. Also, mention the software you are going to use and the instrument or survey to be used.

Analyzing Data Plan

Here, each question of the research is stated with the proposed analysis plan.

Implications for the Study (Social)

This is the stage where you give the expected implications, especially for positive social change. Bound yourself by the study scope.

Acknowledgments

Thank the committee members for according you their time to make the presentation.

How To Write A Good Lab Report

Wondering what a lab report is and how one can write a good lab report?

Well, look no further!

To begin with, let us take a look at the definition of what a lab report is.

A lab report is a written document that describes and analyses a laboratory experiment that investigates a scientific concept.

And now that we have known the definition, how about we go straight into knowing how you can write a good lab report, shall we?

A good lab report entails a title, an introduction, procedure, results, discussions, and a conclusion. They are explained below.

Title

A good lab report is supposed to draw the attention of the one reading your report. It should clearly represent the work presented.  

When writing a title for a good lab report, the use of ‘the’ as the first word in the title should be avoided. This is because the use of ‘the’ may result in misleading searches when one uses the database.

Introduction

A lab report should have an introduction because it gets to explain where the concepts were obtained from.

The introduction should start in a broad way and then become more specific.

Now, when writing the introduction

  • Start off with a very broad introduction to the topic. 
  • Next, narrow down the introduction to talk more specifically about the topic you are investigating, and why the study you did was so important. 
  • The introduction should also include a review that discusses what is already known about the topic. This is where you will summarize the research you have done about your topic. 

Procedure

Here, you should indicate what properties of the system you are measuring. Normally, the properties of the system being measured are the characteristics of the system change. I.e. Changing the temperature, and even measure its effect such as the length of a metal rod.

You should specify such measurement details as the type of standard or instrument used to make the measurement. For example, a meter ruler, vernier caliper, etc.  

It is important to also give instrument uncertainties. For example, if using a meter rule, one can say that the length of the rod is measured using a laboratory meter rule accurate to within 1 cm. You may also give, if necessary, an apparatus diagram.

Additionally, when writing a lab report please take note of the following:

  • Describe the exact procedure you followed when carrying out your experiment.
  • Describe in sufficient detail to allow for the replication of findings.
  • Be concise in your description and omit irrelevant details. You don’t need to include details regarding instructions.
  • Assume the reader has no knowledge of what you did and ensure that he/she would be able to replicate your study exactly by what you write in this section.
  • Write in the past tense.
  • Do not justify or explain the method. An example is when you start explaining why you chose a particular sampling method.
  • Only give enough detail for someone to repeat the experiment. By this, it simply means that you are concise in your writing.

Results

Here is where one presents the descriptive statistics followed by inferential statistics.

The results section is where one reports the means and standard deviations for each level. 

In the results, one should: 

  • Name the statistical test being used.
  • Report appropriate statistics. 
  • Report the magnitude, i.e. Are the results significant or not?
  • Avoid interpreting the results (save this for the discussion). 
  • Make sure the results are presented clearly and concisely. A table can be used to display descriptive statistics if this makes the data easier to understand.
  • Do not include any raw data.

Discussion

After the results is the discussion. 

Its purpose is to interpret your results, that is, explaining, analyzing, and comparing them. In simpler terms, the discussion is the point in which the researcher stands back from the results and talks about them within the broader context.

It is termed as the most important part of the report because it is where you demonstrate that you understand the experiment beyond the level of simply doing it. 

This discussion section often begins by making a statement as to whether the findings in the lab experiment support or do not support the expected findings stated in the concept.

Additionally, the discussion also provides the opportunity to compare the results to the research of others.

As we continue, it is an important matter to note that one should not discuss any outcomes that are not presented in the results from the lab experiment.

Conclusion

Now when you reach here, the conclusion should be a single paragraph that sums up what happened in the experiment, whether your concept was accepted or rejected, and what this means. In simpler terms, the conclusion part is where you present your findings from the experiment.

This is where you demonstrate that there is something that has been learned something by stating that which you have learned. This is important because it helps one to understand the value of the lab experiment and convinces the one reading your report that the experiment was a success. It is important to then be specific, providing details of what you have learned about the theory or principle at the center of the laboratory.

In the conclusion, it is important that as you evaluate the outcome objectively, taking a candid and unbiased point of view. Suppose that the outcome is not close to what you expected. Even then, after checking your results, give reasons why you believe that outcome is not consistent with the expected. Make it plain, simple. 

State the mismatch between the experimental results and the theory, and discuss the sources of the differences in terms of the errors by offering logical inferences.

Also, it is in the conclusion that you get to suggest improvements for the lab experiment.

So, by including all the above as explained, without a doubt, you will have written a good lab report that will for sure help you attain higher grades in your studies.

Research Paper Writing-Statistics

Inventory Management

  1. Full Court Press, Inc. buys slick paper in 1500 pound rolls for textbook printing. Annual
    demand is 1920 rolls. The cost per roll is $1000, the annual inventory carrying cost factor is
    15 percent, and placing an order costs $250.
    (a) How many rolls should Full Court Press order at a time in order to minimize total
    annual cost?
    (b) What is the associated annual inventory carrying cost? annual ordering cost? total
    annual cost?
    (c) What is the annual item cost?
    (d) How long does an order last?
    (e) What is the time between orders?
  2. Carol Philips is in charge of pharmaceutical suppliers at City General Hospital (CGH).
    During the past year, average forecasted daily demand for JY-25 bandages has been 20 cases.
    The forecast error standard deviation is 7.4 cases per day. The average lead time for this
    item is 10 days with a standard deviation of lead time of 1.8 days. The item cost is $140 per
    case, associated annual inventory carrying cost is 27% of the item cost, and ordering cost is
    $20. The Hospital has a targeted service level of 90% for these bandages. CGH is open 365
    days per year.
    (a) What is the reorder point for the JY-25 bandages?
    (b) What is the total annual cost associated with Ms. Philip’s current policy of ordering
    200 cases?
    (c) How much could be saved by ordering the EOQ amount?
  3. Demand during a product’s lead time is 218 units with a standard deviation of 40 units. If
    the reorder point is 300 units, what is the service level?
  4. Suds Company is a regional distributor for Wortman, a local microbrewery. The demand
    rate for the beer is 60 cases per day. Wortman makes deliveries to Suds in quantities of 140
    cases per day. Suds’ ordering cost and annual carrying cost percentage are $20 per order and
    40 percent, respectively. The cost of the beer is $18.45 per case with a lead time of 4 days.
    The company is open 310 days per year. What is the:
    (a) optimal order quantity?
    (b) annual inventory holding cost? annual ordering cost? total annual cost?
    (c) delivery cycle time?
    (d) reorder point?
  5. Consider the historical demand for a product which appears in Table 1. Information
    pertaining to the demand probability distribution as well as expected excess inventory and
    expected shortages for various reorder points are given in the partially completed Table 2.
    The inventory carrying cost is computed annually at 35% of the item cost of $200 per unit.
    The annual demand is 5,000 units while the stockout cost is $10 per unit and the cost of
    placing an order is $75.
    (a) Determine the missing demand probabilities in Table 2.
    (b) Verify all of the entries in Table 2.
    (c) Determine the missing excess inventory and shortage quantities.
    (d) For a reorder point (ROP) of 50 units, what is the:
    Χ expected excess?
    Χ expected carrying cost per year?
    Χ expected short per cycle?
    Χ expected stockout cost per cycle?
    Χ expected stockout cost per year?
    Χ expected total cost
    (e) What should be the reorder point?
    (f) What is the service level for the optimal reorder point?
    (g) What is corresponding EOQ?
    Table 1: Demand Frequency Distribution
    Demand Frequency
    40 40
    45 270
    50 450
    55 160
    60 80
    Table 2: Demand Probability Distribution and Expected Excess Inventory / Shortages
    Reorder Point
    Demand Probability 40 45 50 55 60
    40 0.04 0 0.20 0.40 0.60 0.80
    45 1.35 2.70 4.05
    50 -4.50 -2.25 0 2.25 4.50
    55 0.16 -2.40 -1.60 -0.80 0 0.80
    60 0.08 -1.60 -1.20 -0.80 -0.40 0
    expected excess, e 0.00 0.20 5.55 10.15
    expected carrying cost per
    year, E[CC} $0.00 $14.00 $388.50 $710.50
    expected short, g 9.85 5.05 0.40 0.00
    stockout cost per cycle, G $98.50 $50.50 $4.00 $0.00
    expected stockout cost per
    year, E[SC] $3,136.94 $1,884.33 $188.68 $0.00
    expected total cost $3,136.94 $1,898.33 $577.18 $710.50
    2
  6. SOCKS, Inc. uses blank DVDs in producing foreign language courseware. The company’s
    purchasing manager is reviewing the current policy of placing orders for 100 cases of DVDs
    at a time. Company records indicate that the annual demand is 10,000 cases (each case holds
    50 DVDs). Accounting has estimated that it costs $20 per order. Inventory carrying cost for
    this item is $5.43 per case per year, based on a purchase cost of $15.50 and an annual
    carrying cost of 35%. The lead time is 3 working days. The firm operates 250 days per year.
    (a) How many tapes should SOCKS order at a time?
    (b) What is the associated:
    Χ total annual cost?
    Χ duration of a cycle in days?
    Χ reorder point?
    (c) How much will this save over the current policy of purchasing 100 cases at a time?
  7. The supplier of blank DVDs for SOCKS, Inc. has approached management with an offer to
    make smaller deliveries in quantities of 80 cases per day. However, to cover the added
    shipping costs, the price of DVDs will increase by 2 cents per case. Should the offer be
    accepted?
  8. The weekly demand for a product is normally distributed with mean and variance of 300 and
    81, respectively. Lead time is 9 weeks. For a 99% customer service level, what is the:
    (a) mean and variance of demand during lead time?
    (b) safety stock?
    (c) reorder point?
  9. Sharpe Cutter is a small company that produces specialty knives for paper cutting machinery.
    The annual demand for a particular type of knife is 10,000 units. The demand is uniform
    over the 250 working days per year. Sharpe Cutter produces this type of knife in lots and, on
    average, can produce 50 knives per day. The cost to set up a production run is $200 and the
    cost of carrying inventory for one year is $3.20 per knife. The company is open 50 weeks
    each year. Determine the:
    (a) order quantity that minimizes the total annual cost.
    (b) annual setup cost, annual inventory holding cost, and total annual cost.
    (c) production cycle time.

Accounting Research Paper Writing

BOSS LTD is an owner-managed machinery manufacturer that specializes in producing small electric utility tractors for commercial use in London. England. Jack Boss the sole shareholder, started the business in 2012; his son, Andrew, is the controller.

BOSS LTD recently won a bid from a large client. To ensure that BOSS LTD can deliver this large order, the new client wants to review the audited financial statements before finalizing the contract. In particular, they have indicated that they are interested in seeing the extent of BOSS LTD revenue.

You are an associate articling with the firm of Ron & Harry Chartered Professional Accountants (RH). BOSS LTD has recently engaged RH as the auditor for the company. In prior years, BOSS LTD’s financial statements were audited by a local public accounting firm. Emma White, the partner responsible for the file, has already dealt with all client acceptance issues.

It is now October 31, 2019. You are meeting with Jennifer, who provides you with the following details.

Emma:                Here are the draft September 30, 2019, financial statements (Exhibit I). I met with Jack and Andrew last week to discuss the audit; here are my meeting notes, with some general information about BOSS LTD (Exhibit II).

I would like you to prepare the audit planning memo for this new client. Please ensure that the overall financial statement risk, materiality determinations, and the preliminary analytical review of the financial statements are included. Your analysis should tie into the key accounts and assertions impacted. You do not have to provide audit procedures based on your analysis, as I will do that myself.

As inventory is BOSS LTD’s largest asset, another associate, Mark, attended the inventory count on September 30. He has documented his observations of the count and the procedures he performed (Exhibit III). I would like you to develop the follow-up audit procedures we will perform for each key inventory account assertion. As well, I would like you to review Mark’s observations of the count and identify the risks and control improvements related to inventory count procedures that we will communicate to the client.

Mark has already sent out the accounts receivable and legal confirmations. Here is a summary of the results (Exhibit IV). He did not have time to discuss the results with the client, so you will have to do all of the follow-up work. If you identify any potential adjustments to the financial statements, please prepare them, so I can add them to the summary of identified misstatements. Also, please explain what audit procedures you will perform related to the accounts receivable and legal confirmation results.

Exhibit I

Boss Ltd.

Comparative Financial Statements

As at September 30, 2019

BALANCE SHEET

2019                               2018

(Draft)      (Audited)

ASSETS

Current assets:

Cash

Short-term investments

Accounts receivable

Prepaid expenses

Inventory

Property, plant, & equipment

LIABILITIES AND SHAREHOLDER’S EQUITY Current liabilities:

Accounts payable and accruals

Income taxes payable

Current portion of note payable

Bank loan

Other liabilities (Note 1)

Shareholder’s equity

Retained earnings

Notes:

Note 1 – This includes contingent liabilities.

£80,938£47,889
 80,000 30,000
 237,564 174,567
 19,743 13,776
 764,970 531,343
 1,183,215 797,575
 300,766 330,889
£1,483,981£1,128,464
    
 £236,515£370,998
  40,075 30,087
  30,000 30,000
  306,590 431,085
  200,000 230,000
  155,000 67,000
  661,590 728,085
     
  100 100
  822,291 400,279
  822,391 400,379
     
 £1,483,981£1,128,464
     

Exhibit I (continued)

Boss Ltd.

Comparative Financial Statements

As at September 30, 2019

STATEMENT OF INCOME  
 20192018
 (Draft)(Audited)
Revenue£ 3,500,000£ 3,115,400
Cost of goods sold1,437,9001,414,419
Gross profit2,062,1001,700,981
Expenses:  
Advertising & promotion25,74519,876
Amortization30,12334,567
Automobile24,00024,000
Insurance20,98322,567
Interest on notes payable12,56414,653
Office & supplies45,87642,345
Professional fees47,89925,876
Repairs & maintenance62,899123,459
Salaries1,190,345987,543
Travel8,6754,981
Utilities147,678124,984
 1,616,7871,424,851
Income before taxes445,313276,130
Gain(loss) on investments6,7862,564
Income taxes30,08724,765
Net income after tax£  422,012£  253,929

Exhibit I (continued)

Boss Ltd.

Comparative Financial Statements

As at September 30, 2019

STATEMENT OF RETAINED EARNINGS    
   2019 2018
   (Draft)(Audited)
Net income after tax£422,012£253,929
Retained earnings, opening 400,279 146,350
Retained earnings, closing     
£822,291£400,279

Exhibit II

             Boss Ltd.

Meeting Minutes

(Prepared by Emma White, CPA)

  • Since its inception in 2012, BOSS LTD has had increasing income.
  • Peter is involved in all aspects of the business. He negotiates prices for parts with the suppliers, ensures that manufacturing of the tractors is up to standards, is involved in the hiring of employees, and reviews the financial statements.
  • Andrew is a CPA; he joined his father in the business in 2016, when he received his designation. Matthew receives an annual bonus of 3% of net income before tax.
  • This year, Boss gave all of his staff a bonus, as they had received no wage increases in the last two years due to the sluggish economy. The total bonus amount paid was £25,000.
  • Jack and Andrew are not concerned about implementing additional controls, as they feel that BOSS LTD’s processes are straightforward and its employees are trustworthy.
  • Boss sold a robotic welder for £3,000, as it was fully depreciated and was no longer required for building the tractors.
  • The financial processes are fairly manual; BOSS LTD uses an off-the-shelf accounting package for its GL. With the current potential growth, Jack and Andrew feel that the current GL application may no longer meet their needs.

Exhibit III

Boss Ltd.

Observation of Inventory Count and Count Procedures Performed

(Prepared by Mark, associate)

Observation of BOSS LTD’s Inventory Count on September 30, 2019

  • Inventory ranges from inexpensive parts, such as nuts and bolts, to valuable items, such as motors. In addition to raw materials, inventory also includes completed tractors. There is no work in process.
  • A manager, who deals with BOSS LTD’s inventory on a daily basis, supervised the count; most of the counters were those office staff available at the time.
  • There weren’t any written count procedures, but the manager said he told each count team which area to count, and asked that one member of the team perform the count and that the other member re-count it before writing it down.
  • Rather than marking which areas are counted, BOSS LTD uses the pre-numbered count sheets to ensure all inventory is counted.
  • Each count team took a pre-numbered count sheet from the manager, recorded their counts on the count sheet, and then handed it back to the manager.
  • When a difference was found between the count sheet and inventory records, a re-count was performed. In the cases where there was still a difference, the manager considered this an error, and investigated the difference prior to changing the inventory records.
  • The counters counted all inventory on the shelves, no matter what condition it was in. I asked Andrew Boss about this, and found that the only time BOSS LTD writes off inventory is when it is taken off the shelves to be used, but is found to be damaged or obsolete. According to Andrew Boss, this does not happen very often.
  • Shipments were received during the count, and one staff person was dedicated to receiving the shipments into the inventory system, and placing those items on the shelves.

Count Procedures Performed

  1. I inspected the inventory for items that looked old or damaged, and found the following:
  1. Two engines that looked old, as they were dusty
  • Three boxes of nuts that were rusty
  • 10 sets of tires that were deflated
  • I performed test counts of the inventory. I selected a sample of 15 from the count sheets and traced them to the physical inventories on the shelf, and selected a sample of 15 from the physical inventories on the shelf and traced them to the count sheets. I found one error, in which the count sheet indicated that there were 290 gearboxes; when I counted, I found 250 gearboxes. When I informed the inventory manager of this difference, there was a re-count, and 250 was found to be the correct number. The inventory manager adjusted the amount in the system.
  • I obtained a copy of the final inventory listing and the count sheets.

Exhibit IV

               Boss Ltd.

Accounts Receivable and Legal Confirmation Results

Legal Confirmation Results:

  Legal Counsel 
  Confirmation 
Description of ClaimBOSS LTD’s EvaluationSentConfirmation Results
Wrongful dismissal ofThis lawsuit arose inMaxwell &Legal counsel agreed
 Leon, an2017. We believe weMica LLPwith BOSS LTD’s evaluation.
employee of BOSS LTD. Leonwill settle for £67,000  
was fired for notbefore it reaches court,  
followingand we have accrued  
manufacturing safetythis amount.  
protocol. He is suing   
for £120,000.   
Injury lawsuit of MaryThe lawsuit arose inMaxwell &The evaluation provided
 for £100,000.2018. We believe weMica LLPby the lawyers is a
Mary was anwill settle for £48,000 settlement of £78,000.
employee of BOSS LTD, whobefore it reaches court,  
was injured on the joband we have accrued  
in the repair shop.this amount.  
Lawsuit from CareforeNot identified by BOSS LTDPatni & SonsCarefore Ltd., a
  Ltd. LLPsupplier of BOSS LTD, is suing
   for £30,000 for breach
   of contract in 2018. The
   lawsuit will be settled for
   £15,000 before it
   reaches court.

Accounts Receivable Confirmation Results:

Note – We sent five confirmations to high value accounts, which make up a significant portion of total AR population.

  Amount 
 BOSS LTD AR Sub-ledgerConfirmed by 
CustomerAmount (CAD)CustomerCustomer Response
Nx’s Inc.£67,800£59,325Invoice said we
   received eight tractors,
   but we received seven.
Jill-Mart Inc.£20,756£20,756Nil
Emb Grocery Ltd.£40,1240We sent the cheque for
   £40,124 on September
   29, 2019.
Halal Halal Inc.£30,578€23,094.65Used a Euros exchange
   rate of 0.75527.
Pata Shoes Ltd.£50,6510We received the goods
   on October 2, 2019.

Ignore PST, GST & HST

  1. Prepare an audit planning memo for the audit working paper files and include:
  1. Assessment of overall risk at the financial statement level (pervasive risks). Include the risk factor and any associated factors that may decrease the magnitude of risk. Use the attached form to identify the risk, the accounts and transaction level assertions that may be affected and your assessment. In your memo, summarize your overall risk assessment and explain your reasoning. (hint: refer to entity-level controls covered in Chapter 7)
  • Calculate materiality (use the attached form). Identify the users and their needs. Determine an appropriate base and performance materiality. Summarize your conclusions on materiality in the memo.
  • Perform the preliminary analytical procedures based on the draft financial statements. Calculate gross profit margin (%), current ratio, a/r turnover and inventory turnover. Interpret your findings and identify any impact on the audit (additional procedures that should be performed, etc.)
  • Identify at least five control deficiencies in the client’s inventory count procedures along with implications and recommendations to improve. Summarize your findings in a draft memo to the client.
  • Identify substantive procedures to gather evidence for valuation, existence, completeness, cut-off and rights and obligations assertions related to the inventory account balance. (hint: given the control deficiencies identified, what other tests should the auditor perform to gather sufficient evidence). Summarize your findings in a separate memo to the audit engagement partner.
  • Analyze the legal and accounts receivable confirmations and identify proposed adjustments to account balances along with any other procedures that should be performed to gather additional information related to these confirmations. (hint: you will be drawing on your understanding of how assets and liabilities are properly measured and disclosed). Summarize your adjustments in a separate memo to the audit engagement partner.

Research Paper Writing- Statistics

A COB student is randomly selected, find the following probabilities (please show your work and report your probabilities as a percent rounded to the nearest percent)

Class Standing
MajorFreshmanSophomoreJuniorSeniorTotal
General Business50202323116
HCA57152148
Management35452433137
Marketing2016142474
Accounting50423840170
Finance1115241666
Economics485320
The totals are from Fall 2019 enrollment as of 8/23/19 but the distribution by class standing are estimates.
All majors are disjoint.

a) The probability that this student is a sophomore: answer153/631 = .24247 or 24%

b) The probability that this student is a junior and majoring in accounting.Answer38/631 =0.0602 or 6%

c) P(Management U Senior): Answer p(management) 137/631 = 0.2171, p(senior) 160/631 = 0.2536, p(senior and management) 33/631= 0.0523 p(management or senior) 0.2171 + 0.2536 – 0.0523 = 0.4184

d) If this student is a senior, what is the probability they are majoring in economics?Answer(3/631) / (160/631) = 0.0048 or 0.5% =0.0188

e) Are class standing and major independent? Please support your answer mathematically.

f) Why did I make the caveat that all majors are disjoint? What does this mean?

g) You are interested in understanding the number of scholarships awarded to COB students. The scholarship office gives you the following information: Students can earn a maximum of 3 scholarships each year. 30% of COB students will earn 1 scholarship, 25% will earn 2 scholarships, and 20% will earn 3 scholarships. Treating number of scholarships as the random variable, construct a probability model for number of scholarships. Number of Scholarships (X) P(x=X)

h) Find the expected value and standard deviation for the number of scholarships.

i) Let us convert this into a binomial model where a success is defined as earing a scholarship and a failure is defined as not earning a scholarships. Using the information from part g, find p and q.

j) If the COB has 800 students, are the conditions met to use the normal model to approximate this binomial situation?

k) Using the normal model, what is the probability that at least 600 students earn a scholarship?

l) Using the normal model, find the IQR.

m) Using the normal model, what is the probability that no more than 620 students will earn a scholarship.

Research Paper Writing- Econometrics

  1. True or False. Explain your answer in detail.
    1. In a population regression model, Y = β0+β1X+u, β0 and β1 are unknown. Because of this uncertainty, Var(β0) and Var(β1) are not equal to zero.
      1. R2 measures the ratio of variation that can be explained by the regression model to variation that can’t be explained by the regression model.
      1. E(u|X) = 0 only implies E(u) = 0. It doesn’t say anything about the relationship between u and X.
      1. In order for our regression estimators to be unbiased, we need the variance of X to be as small as possible. In the best scenario, we want the variance of X to be 0.
      1. The homoskedasticity assumption states that variances of error terms given different value of X are the same.

Accounting-Research Paper Writing

You are a CPA in a mid-size firm, Angelica Ruggle is your client and has come to you for some tax planning advice to reduce her 2019 income tax liability. Angelica is married and has a 17-year old son, Chucky who is a senior in high school and has no income. She owns Angelica’s Cafe, which she expects to produce taxable income of approximately $120,000 this year. Angelica’s 2019 taxable income is $40,000 without considering the income from the cafe. Angelica tells you that she needs to purchase new kitchen equipment that will cost $25,000. The café is very successful, and she expects its taxable income to be $170,000 in 2020. Her other taxable income is expected to remain at $40,000. Angelia’s after-tax rate of return is 10%. Write a memo to Angelica offering her two options to reduce her taxes. Include a calculation of her current tax liability before the tax savings options. For each recommendation, include a thorough calculation of her tax savings. You may also submit an Excel file to show your calculations.

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