Initial Assignment 1 - Page 3 of 7 Due: 1/23/2020 1. (20 points) What is the quantitative analysis process? Give examples of this process. Initial: Assignment 1 - Page 4 of 7 Due: 1/23/2020 2. (20 points) Why do you think many quantitative analysts don't like to participate in the im. plementation process? What could be done to change this attitude? Initial: Assignment 1 - Page 5 of 7 Due: 1/23/2020 3. 20 points Ray bond sells handcrafted decorations at county fairs. The variable cost to make these is $20 each, and he sells them for $50 each. The cost to rent a booth at the fair is $240. How many of these must Ray sell to make even? Initial: Assignment 1 - Page 6 of 7 Due: 1/23/2020 4. [20 points) Farris Billiard Supply sells all types of billiard equipment, and is considering man- ufacturing their own brand of pool cues. Mysti Farris, the production manager is currently investigating the production of a standard house pool cue that should be very popular. Upon analyzing the costs, Mysti determines that the materials and labor cost for each cue is $25, and the fixed cost that must be covered is 84200 per week. With the selling price of 840 each, how many cues must be sold to break even? What could be the total revenue at this break-even point? Initial: Assignment 1 - Page 7 of 7 Due: 1/23/2020 5. 20 points) A couple of entrepreneurial business students at State University decided to put their education into practice by developing a tutoring company for business students. While private tutoring was offered, it was determined that group tutoring before tests in the large statistics classes would be most beneficial. The student rented a room close to campus for $300 for 3 hours. They developed handouts based on past tests, and these handouts (including color graphs) cost $5 each. The tutor was paid $25 per hour, for a total of $75 for each tutoring session. i) If students are charged $20 to attend the session, how many students must enroll for the company to break even? il) A somewhat smaller room is available for $200 for 3 hours. The company is considering this possibility. How would this affect the break-even