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A manual (wand) car wash has 10 bays. On a Saturday morning, customers arrive at an average rate of 24/hour (assume Poisson arrivals), and each spends an average of 18 minutes washing their car (assume negative exponential distribution). Assuming that customers wait in a common line for the next available bay, what is the average amount of time (in minutes) that a customer spends from the time they enter the lot until the time they leave? (Round to two decimal places).
a. 3.33 mins
b. 7.85 mins
c. 18.00 mins
d. 19.63 mins
A gold futures contract with current price $650 has a maturity of two years. If the T-bill rate is 4%, what should the futures price be?
Explain what target capital structure is and provide examples of the capital structures from two firms from two different industries. Provide your explanation for the differences in capital structures.
The state lottery's million-dollar payout provides for $1.1 million to be paid in 20 installments of S55.000 per payment. The first 555,000 payment is made immediately, and the 19 remaining S55,000 payments occur at the end of each of the next 19 yea..
A sinking fund can be set up in one of two ways. What are the advantages and disadvantage of each procedure from the view point of both the firm and it's bondholders?
You purchased a zero coupon bond one year ago for $171.56. The market interest rate is now 9 percent. If the bond had 20 years to maturity when you originally purchased it, what was your total return for the past year? Assume semiannual compounding.
The real risk-free rate is 2.9%. Inflation is expected to be 2.15% this year, 3.75% next year, and then 3.1% thereafter. The maturity risk premium is estimated to be 0.05(t - 1)%, where t = number of years to maturity. What is the yield on a 7-year T..
Franklin Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 150,000 shares of stock outstanding. What is the value of the firm under each of the tw..
Last year you sold short 400 shares of stock selling at ?$74.39 per share. Six months later the stock had fallen to ?$38.62 per share. Over the? six-month period the company paid out two dividends of ?$2.05 per share. Your total commission cost for s..
How have changes in technology contributed to the globalization of markets and production? Would the globalization of production and markets have been possible without these technological changes? A democratic political system is an essential conditi..
Gun manufacturer Bloodbath & Beyond expects earnings of $5 million on $20 million of equity this year, paying 60% of its earnings as dividends. It expects no changes in its ROE or dividend payout ratio in the near future. If the current dividends are..
If the yield to maturity on a bond is greater than the coupon rate, you can assume:
Trade Restriction Effects on Exchange Rates. Assume that the Japanese government relaxes its controls on imports by Japanese companies. Other things being equal, how should this affect the (a) U.S. demand for Japanese yen, (b) supply of yen for sale,..
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