Académique Documents
Professionnel Documents
Culture Documents
Chap 12
Chap 12
$VVLJQPHQW3ULQW9LHZ
Score:
12.50/15
Points
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
83.33
1.
$VVLJQPHQW3ULQW9LHZ
Problem 5-1
<RXU SURMHFW WR REWDLQ FKDULWDEOH GRQDWLRQV LV QRZ GD\V LQWR D SODQQHG GD\ SURMHFW 7KH SURMHFW LV
GLYLGHGLQWRDFWLYLWLHV7KHILUVWDFWLYLW\LVGHVLJQHGWRVROLFLWLQGLYLGXDOGRQDWLRQV,WLVVFKHGXOHGWRUXQ
WKH ILUVW GD\V RI WKH SURMHFW DQG WR EULQJ LQ (YHQ WKRXJK ZH DUH GD\V LQWR WKH SURMHFW ZH
VWLOO VHH WKDW ZH KDYH RQO\ RI WKLV DFWLYLW\ FRPSOHWH 7KH VHFRQG DFWLYLW\ UHODWHV WR FRPSDQ\
GRQDWLRQV DQG LV VFKHGXOHG WR UXQ IRU GD\V VWDUWLQJ RQ GD\ DQG H[WHQGLQJ WKURXJK GD\ :H
HVWLPDWH WKDW HYHQ WKRXJK ZH VKRXOG KDYH RI WKLV DFWLYLW\ FRPSOHWH LW LV DFWXDOO\ RQO\
FRPSOHWH7KLVSDUWRIWKHSURMHFWZDVVFKHGXOHGWREULQJLQLQGRQDWLRQV7KHILQDODFWLYLW\LVIRU
PDWFKLQJIXQGV7KLVDFWLYLW\LVVFKHGXOHGWRUXQWKHODVWGD\VRIWKHSURMHFWDQGKDVQRWVWDUWHG,WLV
VFKHGXOHGWREULQJLQDQDGGLWLRQDO6RIDUKDVDFWXDOO\EHHQEURXJKWLQRQWKHSURMHFW
&DOFXODWH WKH VFKHGXOH YDULDQFH VFKHGXOH SHUIRUPDQFH LQGH[ FRVW YDULDQFH DQG FRVW DFWXDOO\ YDOXH LQ
WKLV FDVH SHUIRUPDQFH LQGH[ 1HJDWLYH YDOXHV VKRXOG EH LQGLFDWHG E\ D PLQXV VLJQ 5RXQG \RXU
SHUIRUPDQFHLQGH[YDOXHVWRGHFLPDOSODFHV
6FKHGXOHYDULDQFH
6FKHGXOHSHUIRUPDQFHLQGH[
&RVWYDULDQFH
&RVWSHUIRUPDQFHLQGH[
14,250
0.521
1
0.660
UHYBBB4&B
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH8QGHUVWDQG
WKHFRQFHSWRIHDUQHGYDOXHPDQDJHPHQW
(90
Problem 5-1
<RXU SURMHFW WR REWDLQ FKDULWDEOH GRQDWLRQV LV QRZ GD\V LQWR D SODQQHG GD\ SURMHFW 7KH SURMHFW LV
GLYLGHGLQWRDFWLYLWLHV7KHILUVWDFWLYLW\LVGHVLJQHGWRVROLFLWLQGLYLGXDOGRQDWLRQV,WLVVFKHGXOHGWRUXQ
WKH ILUVW GD\V RI WKH SURMHFW DQG WR EULQJ LQ (YHQ WKRXJK ZH DUH GD\V LQWR WKH SURMHFW ZH
VWLOO VHH WKDW ZH KDYH RQO\ RI WKLV DFWLYLW\ FRPSOHWH 7KH VHFRQG DFWLYLW\ UHODWHV WR FRPSDQ\
GRQDWLRQV DQG LV VFKHGXOHG WR UXQ IRU GD\V VWDUWLQJ RQ GD\ DQG H[WHQGLQJ WKURXJK GD\ :H
HVWLPDWH WKDW HYHQ WKRXJK ZH VKRXOG KDYH RI WKLV DFWLYLW\ FRPSOHWH LW LV DFWXDOO\ RQO\
FRPSOHWH7KLVSDUWRIWKHSURMHFWZDVVFKHGXOHGWREULQJLQLQGRQDWLRQV7KHILQDODFWLYLW\LVIRU
PDWFKLQJIXQGV7KLVDFWLYLW\LVVFKHGXOHGWRUXQWKHODVWGD\VRIWKHSURMHFWDQGKDVQRWVWDUWHG,WLV
VFKHGXOHGWREULQJLQDQDGGLWLRQDO6RIDUKDVDFWXDOO\EHHQEURXJKWLQRQWKHSURMHFW
&DOFXODWH WKH VFKHGXOH YDULDQFH VFKHGXOH SHUIRUPDQFH LQGH[ FRVW YDULDQFH DQG FRVW DFWXDOO\ YDOXH LQ
WKLV FDVH SHUIRUPDQFH LQGH[ 1HJDWLYH YDOXHV VKRXOG EH LQGLFDWHG E\ D PLQXV VLJQ 5RXQG \RXU
SHUIRUPDQFHLQGH[YDOXHVWRGHFLPDOSODFHV
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
6FKHGXOHYDULDQFH
6FKHGXOHSHUIRUPDQFHLQGH[
&RVWYDULDQFH
&RVWSHUIRUPDQFHLQGH[
UHYBBB4&B
Explanation:
$FWLYLW\
6ROLFLW
'RQDWLRQV
0DWFKLQJ)XQGV
7RWDO
([SHFWHG
3ODQQHG
5HYHQXH
'XUDWLRQ
3ODQQHG
3ODQQHG
6WDUW
&RPS
'DWH
'DWH
%&:6
$FWLYLW\
$FWLYLW\
$FWLYLW\
7RWDO
RI
RI
%&:3
$FWLYLW\
$FWLYLW\
$FWLYLW\
7RWDO
RI
RI
RI
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
2.
$VVLJQPHQW3ULQW9LHZ
Problem 5-3
7KHIROORZLQJDFWLYLWLHVDUHSDUWRIDSURMHFWWREHVFKHGXOHGXVLQJ&30
$&7,9,7<
$
%
&
'
(
)
*
,00(',$7(35('(&(6625
$
$
&
%'
'
()
7,0(:((.6
E :KDWLVWKHFULWLFDOSDWK"
ACDEG
F +RZPDQ\ZHHNVZLOOLWWDNHWRFRPSOHWHWKHSURMHFW"
26
1XPEHURIZHHNV
G +RZPXFKVODFNGRHVDFWLYLW\%KDYH"
6
6ODFNRIDFWLYLW\%
ZHHNV
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH'HWHUPLQHWKH
FULWLFDOSDWKIRUDSURMHFW
Problem 5-3
7KHIROORZLQJDFWLYLWLHVDUHSDUWRIDSURMHFWWREHVFKHGXOHGXVLQJ&30
$&7,9,7<
$
%
&
'
(
)
*
,00(',$7(35('(&(6625
$
$
&
%'
'
()
7,0(:((.6
E :KDWLVWKHFULWLFDOSDWK"
$&'(*
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
F +RZPDQ\ZHHNVZLOOLWWDNHWRFRPSOHWHWKHSURMHFW"
1XPEHURIZHHNV
G +RZPXFKVODFNGRHVDFWLYLW\%KDYH"
6ODFNRIDFWLYLW\%
ZHHNV
Explanation:
E
$&'(*DOVRVKRZQLQWKHQHWZRUNDERYHDVWKHEROGSDWK
F
ZHHNV
G
$FWLYLW\%KDVZHHNVRIVODFNWKHGLIIHUHQFHEHWZHHQLWVHDUO\DQGODWHVWDUWWLPHV
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
3.
$VVLJQPHQW3ULQW9LHZ
Problem 5-4
6FKHGXOHWKHIROORZLQJDFWLYLWLHVXVLQJ&30
$&7,9,7<
$
%
&
'
(
)
*
+
,00(',$7(35('(&(6625
$
$
%
&'
'
)
(*
7,0(:((.6
E :KDWLVWKHFULWLFDOSDWK"
ABDEH
F +RZPDQ\ZHHNVZLOOLWWDNHWRFRPSOHWHWKHSURMHFW"
15
1XPEHURIZHHNV
G :KLFKDFWLYLWLHVKDYHVODFNDQGKRZPXFK"
C,3weeksF,1weekandG,1week
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH'HWHUPLQHWKH
FULWLFDOSDWKIRUDSURMHFW
Problem 5-4
6FKHGXOHWKHIROORZLQJDFWLYLWLHVXVLQJ&30
$&7,9,7<
$
%
&
'
(
)
*
+
,00(',$7(35('(&(6625
$
$
%
&'
'
)
(*
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
7,0(:((.6
$VVLJQPHQW3ULQW9LHZ
E :KDWLVWKHFULWLFDOSDWK"
$%'(+
F +RZPDQ\ZHHNVZLOOLWWDNHWRFRPSOHWHWKHSURMHFW"
1XPEHURIZHHNV
G :KLFKDFWLYLWLHVKDYHVODFNDQGKRZPXFK"
&ZHHNV)ZHHNDQG*ZHHN
Explanation:
E
$%'(+DOVRVKRZQLQWKHQHWZRUNDERYHDVWKHEROGSDWK
F
ZHHNV
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
4.
$VVLJQPHQW3ULQW9LHZ
Problem 5-6
7KHIROORZLQJUHSUHVHQWVDSURMHFWWKDWVKRXOGEHVFKHGXOHGXVLQJ&30
$&7,9,7<
$
%
&
'
(
)
*
+
,00(',$7(
35('(&(66256
$
$
%
&'
'(
)*
D
7,0(6'$<6
P
E
E :KDWLVWKHFULWLFDOSDWK"
BEGH
F :KDWLVWKHH[SHFWHGSURMHFWFRPSOHWLRQWLPH"5RXQG\RXUDQVZHUWRGHFLPDOSODFHV
3URMHFWFRPSOHWLRQWLPH
14.66
GD\V
G :KDWLVWKHSUREDELOLW\RIFRPSOHWLQJWKLVSURMHFWZLWKLQGD\V"5RXQG\RXUDQVZHUWRGHFLPDO
SODFHV
3UREDELOLW\
0.7852
UHYBBB4&B&6BBB4&B&6
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH6KRZKRZ
DFWLYLW\WLPHXQFHUWDLQW\FDQEHDQDO\]HG
LQSURMHFWV
Problem 5-6
7KHIROORZLQJUHSUHVHQWVDSURMHFWWKDWVKRXOGEHVFKHGXOHGXVLQJ&30
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
$&7,9,7<
$
%
&
'
(
)
*
+
,00(',$7(
35('(&(66256
$
$
%
&'
'(
)*
D
7,0(6'$<6
P
E
E :KDWLVWKHFULWLFDOSDWK"
%(*+
F :KDWLVWKHH[SHFWHGSURMHFWFRPSOHWLRQWLPH"5RXQG\RXUDQVZHUWRGHFLPDOSODFHV
3URMHFWFRPSOHWLRQWLPH
GD\V
G :KDWLVWKHSUREDELOLW\RIFRPSOHWLQJWKLVSURMHFWZLWKLQGD\V"5RXQG\RXUDQVZHUWRGHFLPDO
SODFHV
3UREDELOLW\
UHYBBB4&B&6BBB4&B&6
Explanation:
,PPHGLDWH
$FWLYLW\ 3UHGHFHVVRUV
$
%
&
$
'
$
(
%
)
&'
*
'(
+
)*
7LPHV'D\V
D
P
E
(7
F
GD\V
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
G
9DULDQFHRISURMHFWFRPSOHWLRQWLPHLVIRXQGE\DGGLQJWKHYDULDQFHVRIDFWLYLWLHVRQWKHFULWLFDOSDWK
37 3= )URP([FHO
V12506',67IXQFWLRQ
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
5.
$VVLJQPHQW3ULQW9LHZ
Problem 5-10
+HUHLVD&30QHWZRUNZLWKDFWLYLW\WLPHVLQZHHNV
D )LQGWKHFULWLFDOSDWK
AEGCD
E +RZPDQ\ZHHNVZLOOWKHSURMHFWWDNHWRFRPSOHWH"
26
1XPEHURIZHHNV
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH'HPRQVWUDWH
KRZWRFUDVKRUUHGXFHWKHOHQJWKRID
SURMHFW
Problem 5-10
+HUHLVD&30QHWZRUNZLWKDFWLYLW\WLPHVLQZHHNV
D )LQGWKHFULWLFDOSDWK
$(*&'
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
E +RZPDQ\ZHHNVZLOOWKHSURMHFWWDNHWRFRPSOHWH"
1XPEHURIZHHNV
Explanation:
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
6.
$VVLJQPHQW3ULQW9LHZ
Problem 5-11
+HUHLVDQHWZRUNZLWKWKHDFWLYLW\WLPHVVKRZQLQGD\V
D 'HWHUPLQHWKHFULWLFDOSDWK
ACDFG
7KHIROORZLQJWDEOHVKRZVWKHQRUPDOWLPHVDQGWKHFUDVKWLPHVDORQJZLWKWKHDVVRFLDWHGFRVWVIRUHDFK
DFWLYLW\
$&7,9,7<
$
%
&
'
(
)
*
1250$/7,0(
&5$6+7,0(
1250$/&267 &5$6+&267
E ,IWKHSURMHFWLVWREHVKRUWHQHGE\IRXUGD\VZKLFKDFWLYLWLHVLQRUGHURIUHGXFWLRQZRXOGEH
VKRUWHQHG"<RXPD\VHOHFWPRUHWKDQRQHDQVZHU6LQJOHFOLFNWKHER[ZLWKWKHTXHVWLRQPDUN
WRSURGXFHDFKHFNPDUNIRUDFRUUHFWDQVZHUDQGGRXEOHFOLFNWKHER[ZLWKWKHTXHVWLRQPDUN
WRHPSW\WKHER[IRUDZURQJDQVZHU
A,C,D(orF),F(orD)
E )LQGWKHUHVXOWLQJFRVWWRFUDVK
5HVXOWLQJFRVW
5,200
5HIHUHQFHV
:RUNVKHHW
3UREOHP
/HDUQLQJ2EMHFWLYH'HPRQVWUDWH
KRZWRFUDVKRUUHGXFHWKHOHQJWKRID
SURMHFW
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
Problem 5-11
+HUHLVDQHWZRUNZLWKWKHDFWLYLW\WLPHVVKRZQLQGD\V
D 'HWHUPLQHWKHFULWLFDOSDWK
$&')*
7KHIROORZLQJWDEOHVKRZVWKHQRUPDOWLPHVDQGWKHFUDVKWLPHVDORQJZLWKWKHDVVRFLDWHGFRVWVIRUHDFK
DFWLYLW\
$&7,9,7<
$
%
&
'
(
)
*
1250$/7,0(
&5$6+7,0(
1250$/&267 &5$6+&267
E ,IWKHSURMHFWLVWREHVKRUWHQHGE\IRXUGD\VZKLFKDFWLYLWLHVLQRUGHURIUHGXFWLRQZRXOGEH
VKRUWHQHG"<RXPD\VHOHFWPRUHWKDQRQHDQVZHU6LQJOHFOLFNWKHER[ZLWKWKHTXHVWLRQPDUN
WRSURGXFHDFKHFNPDUNIRUDFRUUHFWDQVZHUDQGGRXEOHFOLFNWKHER[ZLWKWKHTXHVWLRQPDUN
WRHPSW\WKHER[IRUDZURQJDQVZHU
$&'RU))RU'
E )LQGWKHUHVXOWLQJFRVWWRFUDVK
5HVXOWLQJFRVW
Explanation:
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ
$VVLJQPHQW3ULQW9LHZ
D
$&')*
E
$FWLYLW\
$
%
&
'
(
)
*
1RUPDO
7LPH17
&UDVK
7LPH&7
1RUPDO&RVW
1&
&UDVK&RVW
&&
17&7
&RVW'D\WR
([SHGLWH
)LUVWORZHVWFRVWDFWLYLWLHVWRFUDVKDUH$DQG(DWSHUGD\(LVQRWRQWKHFULWLFDOSDWKWKHUHIRUH
VHOHFW$&ULWLFDOSDWKUHPDLQVWKHVDPH6HFRQGORZHVWFRVWDFWLYLW\RQWKHFULWLFDOSDWKLV&&UDVK
DFWLYLW\&1RZWZRSDWKVKDYHEHFRPHFULWLFDO7KLUG'DQG)DUHQH[WORZHVWFRVWDFWLYLWLHVRQWKH
FULWLFDOSDWKV%RWKKDYHDFRVWRISHUGD\6HOHFW'WKHQ)RUUHYHUVHWKHRUGHU)WKHQ')
FDQQRWEHUHGXFHGE\WZRGD\VEHFDXVHLWZRXOGFDXVH(WREHFRPHSDUWRIDFULWLFDOSDWK
6XPPDU\RIVWHSVWRUHGXFHSURMHFWE\IRXUGD\V
6WHS
$FWLYLW\WRFUDVK
$
&
'RU)
)RU'
&RVWWRFUDVK
'D\VVDYHG
KWWSH]WRPKHGXFDWLRQFRPKPWS["WRGR SULQWYLHZ