11.-) What is JIT? Please explain how it works 12.-) What is MRP? please explain and define 13.-) Why standardization? 14.-) Differences between Process & Product layout
Answers
JIT stands for Just in Time. MRP stands for Materials Requirements Planning. Standardization is the process of establishing a standard or set of standards for a product or process.
JIT stands for Just in Time. It is a philosophy of producing and distributing goods that maximizes efficiency by decreasing inventory and waiting times between steps in the process. JIT is based on the principle that materials are delivered to the production line just in time for their use. This approach aims to minimize inventory carrying costs, reduce the risk of obsolescence, and improve customer service. It works by streamlining the production process so that each step is timed precisely, eliminating any waiting times and reducing the amount of inventory needed.MRP stands for Materials Requirements Planning. MRP is a computerized inventory control system that determines the quantity and timing of material orders required to meet production needs. MRP helps to ensure that the right materials are available at the right time in the right quantities to meet production needs. It involves forecasting, order placement, and inventory control. MRP works by taking into account the production schedule, the bill of materials (BOM), and the inventory levels to calculate what materials are required, when they are required, and how much is required. MRP helps companies to reduce inventory costs, increase production efficiency, and improve customer service.Standardization is the process of establishing a standard or set of standards for a product or process. Standardization helps to ensure consistency, quality, and reliability. Standardization also helps to reduce costs by eliminating waste and inefficiencies.The main differences between process and product layout are as follows:Product layout: This layout is suitable for products that are produced in large quantities.Process layout: This layout is suitable for products that are produced in smaller quantities.For such more questions on Standardization
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Related Questions
if japan can make 25 computers or 5 cellphones in one unit of labor, while south korea can make 4 computers or 1 cellphone, who has the comparative advantage?a. South Korea has the comparative advantage in both computers and phones.b. Japan has the comparative advantage in both computers and phones.c. South Korea has the comparative advantage in computers; Japan in phones.d. There is not enough information to saye. Japan has the comparative advantage in computers; South Korea in phones.
Answers
The correct answer is B. Japan has the comparative advantage in both computers and phones.
This is because Japan can produce more computers and cellphones with the same amount of labor compared to South Korea. In other words, Japan has a higher productivity in both goods.
A comparative advantage means that a country can produce a good at a lower opportunity cost than another country. In this case, Japan has a lower opportunity cost for both computers and cellphones, giving them the comparative advantage in both goods.
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Coronado Industries uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2019 totaled $18000 of materials, $13000 of direct labor costs, and $8000 of manufacturing overhead applied. The company ships all goods as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning work in process totaled $12000, and the ending balance is $9000. During the year, the company completed 25 machines. How much is the cost per machine
Answers
Answer:
Cost per machine $1,680
Explanation:
The computation of the cost of the machine is given below:
Beginning work in process $12,000
Direct material $18,000
Direct labor $13,000
Overhead $8000
Less: Ending work in process -$9,000
Cost of goods manufactured $42,000
Divided by Unit 25
Cost per machine $1,680
hence,the same should be relevant
Comments allow you to make suggestions without changing the contents of a document.
T or F
Answers
Which qualities of the voice are described below?
Proper ____ involves speaking clearly and not mumbling. Good _____
means using acceptable stress patterns
Proper
when saying words.
Answers
Answer: articulation; pronunciation
Explanation:
Proper articulation involves speaking clearly and not mumbling. Also, good pronunciation means using acceptable stress patterns when saying words.
Someone who is articulate wwn speaking is able to speak well, clearly and distinctly. This is important so that listeners can be able to differentiate between the words that are said and also get the message that is passed. Good Pronunciation simply means the standard and appropriate way to say a word.
Word processing software
Video recording device like a camera or a phone
Throughout this course, you’ve been busy helping people in all kinds of careers solve issues or create projects in their line of work. Now it’s time to focus on you! In this activity, you will take the results from your O*Net Interest Profiler and the knowledge you’ve gained in the past units and use both to decide what might be a great career for you! You will put all this information together and create a Career Action Plan.
Part 1: Laying the Pathway
Save this word document as ‘Laying the Pathway.’
Part 2: Compiling the Paperwork
Great! You’ve laid out your pathway. Now, we need to gather all the papers you’ll need to apply for jobs.
Step 1: Resume
Now for the next part of your Career Action plan, the first thing you are going to do is create a resume. Create your resume document from a template. You might find one in your word processing program or by searching the internet for a free resume template. Then, make sure your resume contains the following components:
Is your resume filled in? Is it nice and neat, with everything spelled correctly? Great! Remember to save your Resume to include in your Career Action Plan.
Step 2: Cover Letter
Now, we will work on your cover letter. Remember, a cover letter is a document that explains in your own words and more detail why you are the perfect candidate for the job you are applying for. This is how your cover letter should break down:
Proofread your cover letter for errors. If you are satisfied with it, save it under ‘Cover Letter’ to include in your Career Action Plan.
Step 3: Job Application
With your resume and cover letter, you will usually need to fill out a job application that is specific to the company you are applying to. Much of the information will be a repeat of what is in your resume, but job applications make it easier for a human resources manager to know exactly where to look for specific information.
Use a search engine to find a free mock job application form. Take the information you put in your resume and fill out the job application. Save this as ‘Job Application.’
Part 3: It’s Time to Sell
You may not have chosen Marketing as your career pathway, but we all must sell a bit when it comes to finding a job. We are selling ourselves! In an interview, it is important to help the recruiter or employer to understand what you are all about and how you will be a benefit to the company. Look back over the tips you’ve learned so that you can put your best foot forward.
One thing that we must think about in interviews is proper business etiquette, or behavior. Remember when you were little, and your parents were constantly reminding you to ‘mind your manners’? Well, this idea of manners and polite behavior is especially important when you get a job. The way you act will reflect on the company that you work for, so if you are polite, hardworking, and courteous, this will benefit your employer. It will also make you much more likely to get along with your coworkers! Some rules of business etiquette include:
Being on time (show respect for others’ schedules)
Dressing appropriately (be a good visual representative of your company)
Speaking politely (use proper titles and avoid interrupting others or using bad language)
Avoiding gossip (don’t repeat things about coworkers)
Showing interest in others (make eye contact, don’t play with your phone while in a conversation)
Write emails respectfully (don’t be sarcastic, type in all caps, or fail to sign an email)
In this part of your Career Action Plan, you will video yourself during a mock interview. Have a partner read you the questions below (or if that is not possible, read them out loud to yourself). Then answer, looking at the camera as if it is the interviewer. Use appropriate business etiquette in your interview so that your prospective employer will want you to represent their company. Remember to speak clearly and smile!
Interview Questions
Can you tell me a little bit about yourself?
Why are you applying for this position?
What have you learned in your classes to prepare you for this position?
How would you be a good fit for this position?
What are your strengths and weaknesses?
Remember to answer all five questions in your interview. Save your video to upload with the rest of your plan. You can name it ‘Interview.’
You did it! Congratulations! You have completed your Career Action Plan.
Submit the following documents:
DO NOT DO VIDEO NOT NEEDED I WILL DO THAT
Answers
Multimedia tools are used in digital storytelling to bring stories to life. Digital stories can be used to convey an argument, reflect on a personal experience, teach a subject, or retell a historical event.
How can I advance in my profession?Use these 12 work success guidelines to begin experiencing career success.
a. Choose Your Job Carefully.
b. Always be learning.
c. Recognize the demands of your position.
d. Work as a team.
e. Assume Responsibility for All Your Actions.
A lifestyle career is what?Both people are capable of completing the duties necessary for their jobs, but their schedules will differ. "Work as a Lifestyle" gives businesses and employees the power to find balance, select the schedule that works best, and more.
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Any of the following could be considered business equipment except:
A. buildings
B. machines
C. tools
D. vehicles
Answers
Answer:
buildings
Explanation:
because they aren't equipment
The ______is a financial statement detailing a firm's assets, liabilities, and owners' equity.
A. balance sheet
B. statement of cash flows
C. manufacturing statement
D. income statement
Answers
The income statement is a financial statement detailing a firm's assets, liabilities, and owner's equity. Thus, option 'D' is the correct option.
What is an income statement?One of a company's financial accounts, an income statement or profit and loss account, lists the company's revenues and costs for a specific time period. It describes the process through which revenues are converted into net income or net profit.
A period of time is represented by an income statement (as does the cash flow statement). The balance sheet, on the other hand, only depicts one point in time. There are two ways to create an income statement. The Single Step Income Statement calculates the net income by adding up all receipts and deducting all costs.
In order to get at the net income, the Multi-Step income statement makes a number of calculations, beginning with the gross profit and moving on to operational expenditure estimation. then, after taking the gross profit into account, you get income from operations.
Therefore, option 'D' (income statement) is the correct option.
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characteristics of the local economy
Answers
Answer:
private ownership, freedom of choice,self-interest,optimized buying and selling platforms,competition and limited government intervention.
Explanation:
competition drives the market economy as it optimizes efficiency and innovation
Which of the following is typically not a feature of savings accounts?
Answers:
No checks
Earns interest
Withdrawal limits
A debit card
Answers
Answer: No checks is not a feature of savings account
Explanation: No checks is typically not a feature of savings account. On opening a savings account we do get a passbook and checkbook facility. Cheques are used for quick withdrawal of money or submission of funds
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Delta Diamonds had 5 one-carat diamonds available for sale this year: 1 purchased June 1 for $500, 2 purchased July 9 for $550 each, and 2 purchased September 23 for $600 each. On December 24, it sold one of the diamonds that was purchased on July 9. Using a periodic specific identification, its Inventory after the December 24 sale is
Answers
Using a periodic specific identification, Delta Diamonds' Inventory after the December 24 sale is $2,250.
What is the specific identification method?The specific identification method is an inventory method that identifies specific inventories sold and uses their specific costs in valuing the cost of goods sold.
Data and Calculations:Date Units Unit Cost Total Balance
June 1 1 $500 $500 $500
July 9 2 $550 $1,100 $1,600
Sept. 23 2 $600 $1,200 $2,800
Dec. 24 -1 $550 $550 $2,250
Thus, using a periodic specific identification, Delta Diamonds' Inventory after the December 24 sale is $2,250.
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One to two sentences, explain what happens to a production possibilities curve if a natural disaster creates a scarcity of a key resource needed to make a product. Explain why this happens.
Answers
A natural disaster causing a scarcity of a key resource necessary for production will result in a shift inward or to the left of the production possibilities curve.
This occurs because the reduced availability of the key resource limits the economy's ability to produce the affected product, leading to a decrease in overall production capacity.
As a result, the economy's production possibilities are constrained, and it is forced to operate at a suboptimal level.
The scarcity of the key resource disrupts the balance between the production of different goods, leading to a decrease in potential output.
The economy will need to allocate its limited resources and adjust its production mix accordingly, potentially focusing on alternative products or finding substitutes for the scarce resource in order to maximize production under the new constraints imposed by natural disaster-induced scarcity.
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1. What is the attitude banks have toward being required to become members of the Federal Reserve System?
Answers
Answer:
The attitude banks have toward being required to become members of the Federal Reserve System is explained below in details.
Explanation:
Any country chartered bank (mutual or stock-formed) may enhance a segment of the Federal Reserve System. The twelve geographical Reserve Banks conduct state affiliate banks as members of the Federal Reserve System's commission to guarantee strength and endurance in the nation's indigenous businesses and banking system.
Combinations of production that fall inside the production possibilities frontier are _____ but not efficient.
Answers
Combinations of production that fall inside the production possibilities frontier are attainable but not efficient.
The highest possible output of two items or services that can be produced with a specific mix of resources and technology is represented by the production possibilities frontier (PPF). Various combinations of production possibilities are represented by points on or inside the PPF curve.
When a production combination falls inside the PPF, the economy or business is not making the best use of its resources. It suggests that there is untapped or idle capacity, and more output could be generated without compromising the creation of other products or services.
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Money you pay up front to reduce the amount you will owe is called a
A. fixed loan
B. late payment
C. down payment
D. short-term loan
Answers
Answer:
down payment
Explanation:
A down payment is money paid upfront in a financial transaction, such as the purchase of a home or car. Buyers often take out loans to finance the remainder of the purchase price.
Answer:
down payment
Explanation:
In the short-run this profit-maximizing firm in monopolistic competition would produce how much?
A. I
B. K
C. H
D. None of these is correct
E. J
Answers
In the short-run this profit-maximizing firm in monopolistic competition would produce not as the term of the option provided. So, the correct answer is D. None of these is correct
What's profit-maximizing firm?In the short-run, a profit-maximizing firm in monopolistic competition would produce at a level where marginal revenue (MR) equals marginal cost (MC).
However, since the question does not provide any information about the demand and cost structure of the firm, it is impossible to determine the exact quantity of output that the firm would produce.
The answer choices provided (A, B, C, D, and E) do not offer any insights into the demand and cost conditions of the firm, and are thus not helpful in determining the output level.
It is important to note that in monopolistic competition, firms have some market power, as they can differentiate their products from those of their competitors.
However, this power is limited by the presence of many close substitutes, which tends to drive down demand for any individual firm's product.
So, the correct answer is D. None of these is correct.
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Salma got a prepaid debit card with $20 on it. For her first purchase with the card, she bought some bulk ribben at a craft store. The price of the nbbon was 17 cents per yard. If anee that purchase there was $11.84 left on the card, how many yards of nbbon did Saima buy?
Answers
Salma bought approximately 48 yards of ribbon.
Salma started with a prepaid debit card containing $20. After making her first purchase, there was $11.84 left on the card. By subtracting the remaining balance from the initial amount, we find that she spent $8.16 on the ribbon. Since the price per yard of ribbon was $0.17, we can divide the amount spent by the price per yard to determine the number of yards bought, which is approximately 48 yards. Salma purchased bulk ribbon from a craft store using a prepaid debit card with an initial balance of $20. After the purchase, the remaining balance on the card was $11.84. To calculate the number of yards of ribbon she bought, we subtracted the remaining balance from the initial balance, which gave us $8.16. Since the price per yard of ribbon was 17 cents, we divided the total amount spent ($8.16) by the price per yard (17 cents) to find that Salma bought approximately 48 yards of ribbon.
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What would happen if you had $30 in your checking account and you tried to take out $45 at the grocery store using your debit card?
Answers
Answer:
I believe that the transaction would fail giving you some text similer to "Transaction failed, please try again." or "Insufficient funds."
According to the video, Industrial Production Managers need which qualities? Check all that apply.
willingness to travel frequently
ability to lift heavy objects
ambition to own a company
ability to handle stress
desire for responsibility
relationships with news media
Answers
Answer: ability to handle stress
desire for responsibility
Explanation:
Industrial production managers are the individuals who oversee the daily operations of the plants in an organization.
They are responsible for the coordination, and the planning of the activities that are used in the creation of different goods.
According to the video, the qualities needed by Industrial Production Managers include the ability to handle stress and the desire for responsibility.
Answer: It is D and E
the artist who created the aka elephant mask continued the bamileke tradition of incorporating elephant imagery in the work because
Answers
the elephant holds cultural and symbolic significance within the Bamileke tradition. Elephants are revered in many African cultures, including the Bamileke culture. They are often associated with power, wisdom, strength, and leadership.
The incorporation of elephant imagery in the aka elephant mask by the artist reflects a continuation of the cultural tradition and symbolism within the Bamileke community.
By including elephant imagery in the mask, the artist pays homage to the ancestral beliefs and values that hold elephants in high regard. The mask becomes a representation of cultural identity and heritage, connecting the present generation to their historical roots.
Furthermore, the use of elephant imagery in the aka elephant mask may also carry specific meanings and messages within the Bamileke context. The symbolism of the elephant could vary, depending on the specific purpose or occasion for which the mask is created. It may represent attributes such as authority, fertility, protection, or spiritual connection, depending on the intended symbolism and cultural context.
Overall, the inclusion of elephant imagery in the aka elephant mask by the artist serves to preserve and celebrate the cultural traditions, beliefs, and symbolism associated with elephants within the Bamileke community. It reflects the artist's commitment to carrying forward the cultural heritage and conveying important messages through their artistic expression.
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Which of the following indicates that the assessment of one employee is affecting the ability to be objective when rating another employee? A) Halo error B) Recency error C) 360 degree feedback D) Judgmental methods E) Fixed standards
Answers
The answer that demonstrates how one employee's evaluation affects one's ability to rate another employee objectively is A) Halo mistake.
Halo mistake happens when a rater's general opinion of an employee—whether it's favourable or unfavorable—influences how they rate that employee's performance along particular dimensions. This might result in a halo effect when the rater regularly evaluates the other employee higher or worse based on their predetermined notion if the evaluation of one employee is influencing the rater's view or prejudice. This mistake precludes the rater from giving an accurate and objective assessment of the person's performance relative to particular criteria. The halo error impairs the rating process's objectivity and impartiality.
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Which of these scenarios would lead to an industry requiring more productive workers?
A. Supply of goods increases, and demand for goods decreases
B. Supply of good decreases, and demand for goods increases
C. Supply of goods increases, and demand for goods remains the same
D. Supply of goods decreases,and demand for goods remains the same
Answers
Answer:
B- Supply of goods decreases, and demand for goods increases.
Explanation:
I took the quiz
Answer:
Supply of goods decreases, and demand for goods increases.
Suppose that a year of college has the following explicit costs: $17000 in tuition, $1000 in books and supplies, and $1500 for a computer. A year of college also has the following implicit cost: $35000 of foregone salary. A rational person would attend one year of college if the additional income and improved quality of life were worth how much
Answers
Answer:
A rational person would attend one year of college if the additional income and the improved quality of life were worth more than the cost of attending college for the year or more than $19,500
Explanation:
The given parameters are;
The tuition cost for a year of college = $17,000
The cost of books and supplies = $1,000
The cost for a computer = $1,500
The amount of forgone salary = $35,000
Therefore, the total cost for a year of college = $17,000 + $1,000 + $1,500 + $35,000 = $54,500
However, the amount by which a year in college exceeds the previous income = The cost of going to college $17,000 + $1,000 + $1,500 = $19,500
Therefore, a rational person would attend one year of college if the additional or extra income above the previous income and the improved quality of life were worth more than the cost of going to college for one year which is $19,500.
Why is technology important?Explain.
Answers
which of the following factors are managers likely to consider when forecasting patient volume? question 7 options: a) past trends in volume b) population growth c) the competitive environment d) answers a. and b. are both correct e) answers a., b., and c. are all correct
Answers
The factors that are managers likely to consider when forecasting patient volume option (d) Answers (a) and (b)
When forecasting patient volume, managers of healthcare organizations are likely to consider past trends in volume and population growth. By analyzing historical data on patient volume, managers can identify patterns and make predictions about future demand for services. Population growth is also a key factor to consider since it can impact the number of potential patients in a given area.
While the competitive environment could potentially affect patient volume, it is less likely to be a primary factor in forecasting patient volume. Overall, forecasting patient volume accurately is essential for healthcare organizations to allocate resources effectively and provide high-quality care to their patients.
Therefore, the correct option is (d) Answers (a) and (b)
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When A customer returns goods to the business
Answers
Answer:
If there's no options to select it would be a refund which that customer can exchange that item for a different or identical item or they can get store credit or money back
Explanation:
Using Excel:
On January 28, 2021, several broker restricted transactions on Gamestop to position closing only. You are a consultant for law firm and you have been asked to evaluate the effect of the restrictions. You need to select the relevant estimation window, event window and post-event window. You need to come up with a good control and estimate the Cumulative abnormal return for Gamestop.
You should first use the market model and then introduce multiple factors to estimate the Cumulative abnormal return What is your conclusion?
Answers
The evaluation of the effect of broker restrictions on Gamestop requires selecting the estimation window, event window, and post-event window. The conclusion will depend on the specific analysis and results obtained.
To evaluate the effect of broker restrictions on Gamestop, several steps need to be taken. First, the relevant estimation window, event window, and post-event window need to be selected. The estimation window is the period used to estimate the normal return of the stock, while the event window is the period surrounding the occurrence of the event (in this case, the broker restrictions). The post-event window is the period following the event. These windows are important for comparing the stock's performance before, during, and after the event.
Once the windows are determined, the cumulative abnormal return (CAR) needs to be calculated. The CAR measures the abnormal return of the stock during the event window, accounting for the expected return based on the market model. The market model considers the relationship between the stock's return and the overall market return.
Furthermore, to estimate the CAR accurately, multiple factors can be incorporated into the analysis. These factors may include industry-specific variables, macroeconomic indicators, or company-specific information that could influence the stock's performance.
The conclusion of the evaluation will depend on the specific analysis conducted, the magnitude and significance of the CAR, and the interpretation of the results. It is important to assess whether the broker restrictions had a significant impact on Gamestop's abnormal returns and if the abnormal returns were driven by factors related to the restrictions or other variables.
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which of the following statements is true about the relationship between business processes and information systems? group of answer choices information systems incorporate all business process activities and hence, should be developed before business processes. the relationship between business processes and information systems is one-to-one. developing information systems before business processes ensures that all activities are considered in the development process. a business process need not relate to any information system, but an information system relates to at least one business process.
Answers
A business process need not relate to any information system, but an information system relates to at least one business process, this statements is true about the relationship between business processes and information systems.
A business process is a logically related sequence of actions that specify how particular business tasks are carried out. It is a distinctive method of coordinating work, information, and knowledge inside an organization. Business processes are important for managers to be aware of since they affect how well a firm can conduct its operations and could provide a competitive edge. Each of the main business functions has its own unique business processes, but many of them are cross-functional. Information systems assist firms restructure and streamline business operations by automating certain of these procedures.
The official organizational division in charge of information technology services is the information systems department. It is in charge of maintaining the networks, data storage, hardware, and software that make up the company's IT infrastructure. The department is often led by a CIO and is made up of professionals including programmers, systems analysts, project managers, and information systems managers.
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A rule that states that an acceptance sent via the postal system or by courier is effective when sent is known as?
Answers
A rule that states that an acceptance sent via the postal system or by courier is effective when sent is known as the "Mailbox Rule" or the "Postal Rule."
The Mailbox Rule, also referred to as the Postal Rule, is a legal principle that determines the moment at which an acceptance of an offer becomes legally binding. According to this rule, when an acceptance is properly sent through the postal system or by courier, it is considered effective and binding on the offeror from the moment of posting.
The rationale behind the Mailbox Rule is based on the principle of fairness and convenience. It provides certainty and convenience for parties involved in contractual agreements by establishing a clear point at which an acceptance takes effect.
This rule protects the offeree by ensuring that their acceptance is deemed valid upon dispatch, even if the offeror is unaware of it at the time.
It's important to note that the Mailbox Rule may not apply in certain situations, such as when the offeror specifies a different method of acceptance or when the offeror receives notice of revocation before receiving the acceptance.
Additionally, some jurisdictions may have variations or exceptions to the Mailbox Rule, so it's crucial to consult the specific laws and regulations applicable in the relevant jurisdiction.
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-1 Name the Act that makes provision for employees to improve their work performance.
Answers
Explain in detail any two ways that can be used to carry out the risk analyses and evaluation processes during an Environmental risk assessment (ERA). This question is associated with the evaluation of the risks associated with hazards that are identified in the workplace.
• There are more than 4 ways that these risks could be analyzed and evaluated during the ERA process so that appropriate management steps could designed.
• Explain any 2 ways through which you can evaluate the risks associated with hazards identified during the ERA process
• Use appropriate examples to explain your answers • Each method that you present and the explanation given are awarded
Answers
Environmental risk assessments (ERAs) are tools used to identify, assess, and prioritize the risks associated with an industrial site. The process involves the identification of hazards, their potential consequences, and their likelihood of occurrence.
Quantitative risk assessments involve the use of mathematical models to predict the likelihood and consequences of a hazard. They are best used when there is a large amount of data available and the hazards are complex. Examples of quantitative risk assessment tools include the Monte Carlo simulation and the event tree analysis.
A quantitative risk assessment, on the other hand, may use a mathematical model to predict the likelihood of the release occurring and the consequences in terms of human health and environmental damage.
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