题目内容
（请给出正确答案）
Sensitivity analysis can be used in risk analysis to:
A Substitute for uncertainty analysis in risk quantification
B estimate the level of risk aversion adopted by management
C estimate the effect of change of one project variable on the overall project
D A and B
E All of the above.
如果结果不匹配，请 联系老师 获取答案
更多“Sensitivity analysis can be us…”相关的问题
(ii) Briefly explain the extent to which the application of sensitivity analysis might be useful in deciding
which refrigeration system to purchase and discuss the limitations inherent in its use. (3 marks)
Production and sales from the new machine are expected to be 100,000 units per year. Each unit can be sold for $16 per unit and will incur variable costs of $11 per unit. Incremental fixed costs arising from the operation of the machine will be $160,000 per year.
Warden Co has an after-tax cost of capital of 11% which it uses as a discount rate in investment appraisal. The company pays profit tax one year in arrears at an annual rate of 30% per year. Capital allowances and inflation should be ignored.
Required:
(a) Calculate the net present value of investing in the new machine and advise whether the investment is financially acceptable. (7 marks)
(b) Calculate the internal rate of return of investing in the new machine and advise whether the investment is financially acceptable. (4 marks)
(c) (i) Explain briefly the meaning of the term ‘sensitivity analysis’ in the context of investment appraisal; (1 mark) (ii) Calculate the sensitivity of the investment in the new machine to a change in selling price and to a change in discount rate, and comment on your findings. (6 marks)
(d) Discuss the nature and causes of the problem of capital rationing in the context of investment appraisal, and explain how this problem can be overcome in reaching the optimal investment decision for a company. (7 marks)
AlphaGo’s victory over Go(围棋 )champion Lee Se-dol reportedly shocked artificial intelligence experts, who thought such an event was 10 to 15 years away. But if the timing was a surprise, the outcome was not. On the contrary, it was inevitable and entirely foreseeable.
Playing complex games is precisely what computers do supremely well. Just as they beat the world champions at checkers(跳棋)and then chess, they were destined to beat the champion at Go. Yet I don’t believe, as some do, that human defeats like this one presage an era of mass unemployment in which awesomely able computers leave most of us with nothing to do. Advancing technology will profoundly change the nature of high-value human skills and that is threatening, but we aren’t doomed.
The skills of deep human interaction, the abilities to manage the exchanges that occur only between people, will only become more valuable. Three of these skills stand out: The first, the foundation of the rest, is empathy, which is more than just feeling someone else’s pain. It’s the ability to perceive what another person is thinking or feeling, and to respond in an appropriate way.
The second is creative problem-solving in groups. Research on group effectiveness shows that the key isn’t team cohesion or motivation or even the smartest member’s IQ; rather, it’s the social sensitivity of the members, their ability to read one another and keep anyone from dominating.
The third critical ability, somewhat surprisingly, is storytelling, which has not traditionally been valued by organizations. Charts, graphs and data analysis will continue to be important, but that’s exactly what technology does so well. To change people’s minds or inspire them to act, tell them a story.
These skills, though basic to our humanity, are fundamentally different from the skills that have been the basis of economic progress for most of human history, logic, knowledge and analysis, which we learned from textbooks and in classrooms. By contrast, the skills of deep human interaction address the often irrational reality of how human beings behave, and we find them not in textbooks but inside ourselves. As computers master ever more complexity, that’s where we’ll find the source of our continued value.
According to the author, AlphaGo’s victory_____.
A.could have happened earlier
B.came as a pleasant surprise
C.was an expected result
D.was more a matter of luck
The word “presage”(Para. 2) is closest in meaning to“ _____”.A.survive
B.suffer
C.invent
D.predict
Which of the following is the most fundamental to human interaction？A.Social sensitivity of group members to understand each other.
B.Strong ability to share people’s feelings and respond.
C.Team spirit to make sure that everyone is involved.
D.Inspirational storytelling to motivate people to act.
According to the author, the skills of deep human interaction .A.are the source of true human values in the future
B.can work with knowledge to make the world better
C.are similar to the skills of human logic and analysis
D.can be learned from textbooks and in classrooms
What is the author’s attitude towards the human future in the face of technology？A.Unclear
B.Confused
C.Worried
D.Optimistic
请帮忙给出每个问题的正确答案和分析，谢谢！
1 The Health and Fitness Group (HFG), which is privately owned, operates three centres in the country of Mayland.
Each centre offers dietary plans and fitness programmes to clients under the supervision of dieticians and fitness
trainers. Residential accommodation is also available at each centre. The centres are located in the towns of Ayetown,
Beetown and Ceetown.
The following information is available:
(1) Summary financial data for HFG in respect of the year ended 31 May 2008.
(2) HFG defines Residual Income (RI) for each centre as operating profit minus a required rate of return of 12% of
the total assets of each centre.
(3) At present HFG does not allocate the long-term borrowings of the group to the three separate centres.
(4) Each centre faces similar risks.
(5) Tax is payable at a rate of 30%.
(6) The market value of the equity capital of HFG is $9 million. The cost of equity of HFG is 15%.
2
(7) The market value of the long-term borrowings of HFG is equal to the book value.
(8) The directors are concerned about the return on investment (ROI) generated by the Beetown centre and they are
considering using sensitivity analysis in order to show how a target ROI of 20% might be achieved.
(9) The marketing director stated at a recent board meeting that ‘The Group’s success depends on the quality of
service provided to our clients. In my opinion, we need only to concern ourselves with the number of complaints
received from clients during each period as this is the most important performance measure for our business.
The number of complaints received from clients is a perfect performance measure. As long as the number of
complaints received from clients is not increasing from period to period, then we can be confident about our
future prospects’.
Required:
(a) The directors of HFG have asked you, as management accountant, to prepare a report providing them with
explanations as to the following:
(i) Which of the three centres is the most ‘successful’？ Your report should include a commentary on return
on investment (ROI), residual income (RI), and economic value added (EVA) as measures of financial
performance. Detailed calculations regarding each of these three measures must be included as part of
your report;
Note: a maximum of seven marks is available for detailed calculations. (14 marks)
A．coach
B．forsake
C．foster
D．censor
A.Scroll Sensitivity
B.Movement Type
C.ontent
D.Horizontal
What does the writer mean by saying "we pay for our sensitivity" in the first paragraph？
A．We have to take care of our sense of pain.
B．We suffer from our sense of feeling.
C．We should try hard to resist pain.
D．We are hurt when we feel pain.
A.sensitive detection area
B.sensitivity adjustment
C.visual alarm indicator
D.battery compartment cap
A . Net present value (NPV).
B . Return on investment (ROI).
C . Discounted cash flow (DCF)
D . Payout time and risk sensitivity analysis.
E . All of the above.
