Answers
Answer: Amounts owed to suppliers for products and/or services purchased on credit.
Explanation: Account payable as a liability arises on account of credit purchases and therefore, are amounts owed to suppliers for products and/or services purchased on credit. While accounts payable can be either a short-term or a long-term liability based on the duration available to pay the same, they are typically paid within thirty or sixty days which makes them current liabilities. However, the duration of credit that is available to companies making such purchases are based on both the credibility of such companies, the history of past purchases and how timely they repay their debts.
Related Questions
What is the link between managing ineffective performers and organizational productivity?
Answers
Ineffective performance is defined as an employee's inability to meet a specified level of performance and is usually ascribed to the working environment. The capacity of an organization to fulfill its goals while avoiding costs is referred to as organizational productivity.
What effect does organization have on productivity?According to studies, competent management may considerably enhance production, market value, and growth, as well as the capacity to resist bad events such as a recession.
Ineffective personnel have a significant negative impact on organizational productivity. To increase the performance of such personnel, certain managerial steps must be taken.
Managers should closely monitor, engage, encourage, and guide ineffective employees. Bosses should design motivational strategies and identify the root reason of an employee's incapacity to succeed. Employees are affected by a variety of circumstances, including coworkers, the environment, family disruptions, and salaries.
As a result, supervisors must recognize the issue and properly aid the employee. Criticism from superiors causes work-related stress, which leads to ineffectiveness; thus, empathic managers may resolve these differences and strengthen the working relationship.
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The graph shows unemployment rates in the United States in recent years.
Which statement is the most accurate explanation of the information on the graph?
* Unemployment rates rise and fall in predictable patterns.
* Unemployment will never again be as high as it was in 2010.
* The United States suffered an economic downturn starting in 2009.
*The United States does not have to worry about unemployment.
Answers
The correct answer is C. The United States suffered an economic downturn starting in 2009.
Explanation:
The graph shows the percentage of unemployment in the U.S. from 2006 to 2012. In this, you can see the unemployment rate was between 4% and 5% during 2006, 2007 and 2008; however, after this year the rate suddenly increased. Indeed in 2009, the rate was 6% and in 2010 it was 10%, which is evidently higher than in previous years. This situation suggests there was an economic recession or downturn that began in 2009 and continued during the following years, this explains why the number of unemployed people increased as an economical recession usually leads to fewer jobs. Thus, the most accurate statement is "The United States suffered an economic downturn starting in 2009".
Your company sells over-the-counter sleep pills and has created the slogan "sleep better than a baby, sleep like a teenager." what element of strategy does this represent?
Answers
Answer: Targeting
Explanation:
Strategy refers to the integrated set of choices that managers consider when making decisions. With regards to the question above, the element of strategy that's used is the targeting strategy.
The targeting strategy is when the market is being segmented and the segments of the market tahts appropriate is then chosen aftee which product are then offered.
what is differed interest loan in a sentence
Answers
A deferred interest loan is a loan in which the borrower is not required to pay any interest until a specified date in the future, typically at the end of the loan term.
What is deferred interest loan?A deferred interest loan is a type of loan where the borrower is not required to make interest payments until a specific time in the future. In most cases, this time is the end of the loan term. Instead of paying interest on a monthly basis, the interest accrues, or builds up, over the life of the loan. At the end of the loan term, the borrower must pay back the full amount of the loan, including the accumulated interest.
This type of loan is often used for large purchases, such as home appliances or furniture, where the borrower wants to spread the cost of the purchase over time but does not want to pay interest until a specific date.
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Harrison Hardware just purchased 3 new cash registers. Each cash register cost $1,800 and has an estimated
life of 5 years. The trade-in value of each cash register is expected to be $100 at the end of 5 years. Using the
straight-line method, what is the annual depreciation for all three cash registers?
Answers
The annual depreciation for all three cash registers is $1,020. The total amount of depreciation expenses attributed to a specific asset since the asset was used is known as accumulated depreciation.
It is a contra asset account, meaning that the amount in the asset account to which it is often linked is offset by the balance in the counter asset account.
The same amount that is credited to the accumulated depreciation account whenever a company records depreciation expenses allows the company to show both the asset's cost and total depreciation. Additionally, this displays the asset's net book value on the balance sheet.
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The type of lifestyle consumers maintain,
relates to the ____________ segment of an
enterprise's total potential market.
a. psychographic
b. geographic
c. demographic
d. behaviouristic
Answers
The type of lifestyle consumers maintain relates to the A.psychographic segment of an enterprise's total potential market.
What is Psychographic segmentation?Psychographic segmentation is based on factors such as consumer attitudes, values, beliefs, and lifestyles. It divides consumers into different groups based on their personality traits, interests, hobbies, and behaviors. Psychographic segmentation is useful in identifying consumers with similar lifestyles, attitudes, and aspirations, which can help businesses to tailor their marketing messages and product offerings to meet the needs of those consumers.
In this case, the type of lifestyle that consumers maintain is a psychographic characteristic that can be used to identify and target specific groups of consumers who share similar values and interests. By understanding the psychographic segment of their total potential market, enterprises can develop marketing strategies that are more likely to resonate with their target consumers and drive sales.
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1. (15 points) A sales budget is given below for one of the products manufactured by the Key
Co.:
January
February
March
April
May
June
21,000 units
36,000 units
61,000 units
41,000 units
31,000 nits
25,000 units
The inventory of finished goods at the end of each month should equal 20% of the next month's
sales. However, on December 31 the finished goods inventory totaled only 4,000 units. Each unit
of product requires three specialized electrical switches. Since the production of these specialized
switches by Key's suppliers is sometimes irregular, the company has a policy of maintaining an
ending inventory at the end of each month equal to 30% of the next month's production needs.
This requirement had been met on January 1 of the current year.
Required:
a. Prepare a budget showing the required production each month for January, February, March,
and April
b. Prepare a budget showing the quantity of switches to be purchased each month for January,
February, and March.
Answers
Answer:
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Explanation:
Match the drawbacks of the scientific management theory to their respective outcomes in the workplace.
rigidity
lack of autonomy
mechanical nature
lack of feedback
Answers
Answer:
Explanation:
Plato Users
Production methods are standardized with no opportunity for individual initiative is known as lack of autonomy.
What are Production methods?A production process is a way to use economic resources, such as labor, expensive machinery, or land, to create goods and services for customers.
The manufacturing process typically addresses how to effectively and productively produce goods for sale so that clients can receive them fast without compromising the product's quality.
Depending on their manufacturing objectives, production volumes, and technology tools or software systems, organizations can use a wide range of production methods.
Making broad-based production decisions that have an impact on the productivity levels of product development and sales is a crucial component of the job of a manufacturing manager. Choosing the best production method frequently depends on the kind of technology you have access to.
For instance, without the right technology to track, categorize, or manufacture these products appropriately, you might not be able to adhere to a clear mass production structure if you receive a lot of orders for the same product.
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g The Dynatech Brewing Company is a small craft brewer that produces five standard varieties of beer. The beers sell for $6 per six-pack, and the company currently sells 7,000 six-packs per month. The company is considering producing a seasonal beer that will be sold in October, November, and December. The company estimates that at $6 per six-pack, the company will sell 1,400 six-packs. At $7 per six-pack, sales will be 700 six-packs. The company also estimates that sales of the seasonal beer will eat into sales of its standard items. Specifically, for every 700 six-packs of the seasonal beer that are sold, 210 six-packs of the standard varieties will not be sold. The variable production costs of all beers is $1.70 per six-pack. Calculate the incremental profit associated with the two selling prices under consideration for the seasonal beer (i.e., $6 and $7 per six-pack). (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $6 per six-pack $7 per six-pack Incremental profit/(loss) $enter a dollar amount $enter a dollar amount eTextbook and Media Should Dynatech Brewing produce the beer
Answers
Answer:
The Dynatech Brewing company
a. Incremental Profit with the Seasonal Production and Sales:
1,400 units 700 units
Sales revenue $8,400 $4,900
Variable costs 2,380 1,190
Contribution $6,020 $3,710
Lost Contribution 1,806 903
Incremental profit $4,214 $2,807
b. Dynatech Brewing should produce 1,400 six-pack seasonal beer. It will increase its profit (contribution) by $4,214. It will only suffer a lost contribution of $1,806.
Explanation:
a) Data and Calculations:
Selling price per six-pack = $6
Variable production costs per six-pack = $1.70
Contribution per six-pack = $4.30
Units sold per month = $7,000
Seasonal Production and Sales:
1,400 units 700 units
Sales revenue $8,400 ($6 * 1,400) $4,900 ($7 * 700)
Variable costs 2,380 ($1.70 * 1,400) 1,190 ($1.70 * 700)
Contribution $6,020 ($4.30 * 1,400) $3,710 ($4.30 * 700)
Lost Contribution 1,806 ($4.30 * 420) 903 ($4.30 * 210)
Incremental profit $4,214 $2,807
In your own words, explain why Kurt Lewin, in his attempt to identify the set of skills that all great leaders possess, indicated that leadership is vulnerable.
Answers
Kurt Lewin's belief that leadership is vulnerable stems from his understanding that leadership is a complex and dynamic process that requires ongoing adaptation to changing circumstances.
What is Kurt Lewin's belief?He believed that great leaders possess a certain set of skills that allow them to navigate these challenges successfully, but also recognized that no leader is infallible or immune to failure.
Lewin understood that leadership is vulnerable to a range of internal and external factors that can impact a leader's effectiveness, including changes in organizational culture, shifting political and social trends, and unforeseen events that can disrupt even the best-laid plans.
As such, he emphasized the need for leaders to be resilient and adaptable, and to be constantly learning and evolving in order to stay ahead of the curve and remain effective in the face of new challenges.
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If a firm faces ________________________, while the prices for the output the firm produces remain unchanged, a firm's profits will increase.
Answers
Answer:
be
Explanation:
v
The newest employee at Edwards Escrow Co., Adam Riley, is handling the escrow
paperwork for the sellers and the buyers on an Anaheim property sale. When Adam
goes to figure out the prorations for the month of February, for which some of the
expenses have already been paid by the sellers, Adam cannot remember what
number to use to figure out the proration. Which of the following should he use?
Answers
Since Adam cannot remember the number he used for the proration, then, he should use 28 days because that is the actual number of days in February,
Proration is an act of dividing the property expenses between a buyer and seller to ensure that the parties only pay for the days they owns the property.
Since the month of February contains 28 days, then, the number of days used in the calculation of the Proration will be maximum of 28 days
Therefore, the Option A is correct because 28 days is the actual number of days in February.
Missing options includes
28 days because that is the actual number of days in February, the month for which the prorations are being calculated., 30 days which escrow companies use as their base month in figuring out prorations31 days which escrow companies use as their base month in figuring out prorations.Read more about February days
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If you are under 59 % and you withdraw money from your traditional IRA, which of the following is the exception to the additional penalty tax?
Choose one answer.
a. You are disabled
b. You have unreimbursed medical expenses that are more than 7.5% of your AGI
c. You are the beneficiary of a deceased IRA owner
d. All of these
e. None of these
Answers
Answer:
A-You are disabled
Explanation:
If you're disabled, you can withdraw IRA funds without penalty. If you pass away, there are no withdrawal penalties for your beneficiaries. You can avoid an early withdrawal penalty if you use the funds to pay unreimbursed medical expenses that are more than 7.5% of your adjusted gross income (AGI).
How do you access the Marketing Environment (analysis on Macro and Micro Environment) and Market Segmentation and Targeting?
(Example by A Company Success Case Reference)
Answers
One way to analyze the marketing environment is through a SWOT analysis, which examines a company's strengths, weaknesses, opportunities, and threats.
What is Marketing Environment?Generally, Accessing the marketing environment for a company involves analyzing both the macro and micro environments. The macro environment includes factors such as economic conditions, political and legal factors, and technological advancements, while the micro environment includes factors such as competitors, customers, and suppliers.
Market segmentation involves dividing a market into smaller groups of consumers with similar needs or characteristics. Targeting involves selecting one or more segments to pursue.
For example, a company that sells athletic footwear may segment its market based on factors such as age, gender, and level of physical activity. The company may then target specific segments, such as young, athletic men or older, recreational walkers. This company can look at Nike's example, they segment their market by gender, age, sports, and lifestyle, and targets specific segments such as professional athletes, amateur athletes, and casual users.
It's important to note that, a company success case reference can be a good guide, but the company should also conduct their own market research to gain a deeper understanding of their specific market and target audience.
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Accessibility tab summary: Financial information for JPL incorporated, is presented in cells A4 to C7. A statement for requirement 1 is presented in rows 9 to 14. A table for student presentation is presented in cells A15 to C17 and A19 to B20. A statement for requirement 2 is presented in row 22. A table for student presentation is presented in cells A23 to C24. A statement for requirement 3 is presented in row 26. A table for student presentation is presented in cells A27 to B28. A statement for requirement 4 is presented in row 30. A table for student presentation is presented in cells A31 to B35 and row 37. Given the following information complete a CVP analysis for JPL, Inc.: Unit sales 11,200
Selling price per unit $75
Variable expenses per unit $45
Fixed expenses $210,000
Required: Use the data to answer the following. (Use cells A4 to C7 from the given information to complete this question. All answers should be input and displayed as positive values.) 1. Compute the CM ratio and variable expense ratio. Selling price per unit Variable expenses per unit Contribution margin per unit CM ratio Variable expense ratio 2. Compute the break-even sales. Break-even in unit sales Break-even in dollar sales 3. Compute the margin of safety. Margin of safety in dollars Margin of safety percentage 4. Compute the degree of operating leverage. Sales Variable expenses Contribution margin Fixed expenses Net operating income Degree of operating leverage
Answers
A. JPL, Inc. needs to sell 7,000 units or generate $525,000 in sales to break even.
B. JPL, Inc. has a margin of safety of $211,200 or 32%.
C. JPL, Inc. has a degree of operating leverage of 2.67. This means that for every 1% change in sales, the net operating income will change by 2.67%.
How did we get these values?Here are the explanations to the answers based on the information provided:
Compute the CM ratio and variable expense ratio.
First, we need to calculate the contribution margin per unit, which is the difference between the selling price per unit and the variable expenses per unit:
Contribution margin per unit = Selling price per unit - Variable expenses per unit
= $75 - $45
= $30
Now we can use the contribution margin per unit to compute the CM ratio and variable expense ratio:
CM ratio = (Contribution margin per unit ÷ Selling price per unit) x 100%
= ($30 ÷ $75) x 100%
= 40%
Variable expense ratio = (Variable expenses per unit ÷ Selling price per unit) x 100%
= ($45 ÷ $75) x 100%
= 60%
Compute the break-even sales.
The break-even point is the level of sales at which the company neither earns a profit nor incurs a loss. At this point, the total revenue is equal to the total cost, and the net operating income is zero. We can calculate the break-even point in units and dollars using the following formulas:
Break-even in unit sales = Fixed expenses ÷ Contribution margin per unit
= $210,000 ÷ $30
= 7,000 units
Break-even in dollar sales = Break-even in unit sales x Selling price per unit
= 7,000 units x $75
= $525,000
Therefore, JPL, Inc. needs to sell 7,000 units or generate $525,000 in sales to break even.
Compute the margin of safety.
The margin of safety is the difference between the actual sales and the break-even sales. It tells us how much sales can decline before the company starts incurring a loss. We can calculate the margin of safety in dollars and percentage using the following formulas:
Margin of safety in dollars = Actual sales - Break-even sales
= 11,200 units x $75 - $525,000
= $211,200
Margin of safety percentage = (Margin of safety in dollars ÷ Actual sales) x 100%
= ($211,200 ÷ (11,200 units x $75)) x 100%
= 32%
Therefore, JPL, Inc. has a margin of safety of $211,200 or 32%.
Compute the degree of operating leverage.
The degree of operating leverage (DOL) measures how sensitive the net operating income is to changes in sales. It is calculated as the ratio of the contribution margin to the net operating income. We can use the following formula to calculate the DOL:
DOL = Contribution margin ÷ Net operating income
To calculate the contribution margin and net operating income, we need to use the actual sales figure:
Sales = Unit sales x Selling price per unit
= 11,200 units x $75
= $840,000
Variable expenses = Variable expenses per unit x Unit sales
= $45 x 11,200 units
= $504,000
Contribution margin = Sales - Variable expenses
= $840,000 - $504,000
= $336,000
Net operating income = Contribution margin - Fixed expenses
= $336,000 - $210,000
= $126,000
Now we can calculate the DOL:
DOL = Contribution margin ÷ Net operating income
= $336,000 ÷ $126,000
= 2.67
Therefore, JPL, Inc. has a degree of operating leverage of 2.67. This means that for every 1% change in sales, the net operating income will change by 2.67%.
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why do many essential products that we use (e .g water) have relatively low prices, while other less essential products (e.g diamonds) command higher prices? Explain this paradox using marginal utility approach
Answers
In a market economy, the cost of many necessities for human life is significantly lower than the cost of less necessary necessities.
What do you call necessities?
Anything you need in order to function correctly or complete an action is referred to as a need. Life cannot exist without water. Alternative Words: essential, need, need, necessary More necessary synonyms Countable noun You must use your revenue to purchase necessities, which are goods or services. Basic necessities include things like food, clothing, heat, shelter, and medical attention. something which is essential. For the beach, sunscreen is a must-have. food, clothing, and other essentials. It's important to get enough of sleep. Living close to work is essential for those without cars.
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If the tax rate on the first $30,000 of income is 15 percent; on the next $30,000 is 20 percent; and on all income above $60,000 is 30 percent, then the tax payment on income of $30,000 is $_____.
Answers
Based on the information given the tax payment on income of $30,000 is $10,500.
Tax payment on incomeUsing this formula
Tax payment=(First income×Tax rate)+(Next income×Tax rate)
Let plug in the formula
Tax payment=($30,000×15%)+($30,000×20%)
Tax payment=$4,500+$6,000
Tax payment=$10,500
Inconclusion the tax payment on income of $30,000 is $10,500.
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Answer:4500
Explanation: multiply the tax rate of 15% by 30,000
Your forecast shows $500,000 annually in sales for each of the next 3 years. If your second and third year predictions have failed to incorporate the 3% expected annual inflation, how far off in total dollar sales is your 3-year forecast
Answers
Answer:
$45,450
Explanation:
your first year sales should be $500,000
your second year sales should be $500,000 x 1.03 = $515,000
your third year sales should be $515,000 x 1.03 = $530,450
total sales = $1,545,450
since you previously budgeted $1,500,000 in sales for the 3 years, you were off by $45,450
Bramble Corp. factors $7200000 of its accounts receivables with recourse for a finance charge of 5%. The finance company retains an amount equal to 9% of the accounts receivable for possible adjustments. Bramble estimates the fair value of the recourse liability at $249000. What would be recorded as a gain (loss) on the transfer of receivables
Answers
Answer:
See below
Explanation:
Given the above information, first we'll compute net proceeds
Cash received $7,200,000 × 86%
$6,192,000
Add:
Due from factors $7,200,000 × 9%
$648,000
Less;
Recourse obligation
($5,000)
Net proceeds
$6,835,000
What is another advantage of empowerment?
Multiple Choice
It provides a morale boost to inexperienced or failing employees.
It hides internal problems from the customer.
It requires frontline employees in an organization to decrease contact with their managers
It is an intangible way that service organizations reward employees.
Answers
Answer:
i believe it's A) It provides a morale boost to inexperianced or failing employees.
Explanation:
The another advantage of empowerment is that it provides a morale boost to inexperienced or failing employees. The empowerment in business means knowing how to "humanize" the work environment so management and employees work together to enhance productivity and achieve greater personal and professional success.
What is Empowerment?
The Empowerment refers to the delegation of some authority and responsibility to employees and involving them in the decision-making process, not in mere job activities, but rather at all the levels of management.
The purpose of empowerment is to facilitate decision-making at lower levels of the organization where the employees can offer a unique idea and suggestion about the problem being faced by the organization at a certain level.
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what is free trade in economics
Answers
Free trade is the exchange of products and services between nations or subnational areas without the imposition of tariffs, quotas, or other limitations.
Why is free trade named that?Governments cannot apply any import or export quotas, taxes, levies, or duties under the mostly theoretical free trade system. In this regard, protectionism, a defensive trade strategy meant to prevent the prospect of foreign competition, is the antithesis of free trade.
What benefits does free trade offer?Non-tariff obstacles that might otherwise obstruct the flow of products and services can also be addressed through free trade agreements, which can serve to enhance regulations governing matters like intellectual property, e-commerce, and public procurement.
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Adam owns a restaurant. A new dish is being added to the restaurant's menu. The cost of making the dish is $6.75, and he wants to make a 33% profit on each dish he sells. What is Adam's selling price? Question 1 options: 10.08 11.33 26.05 5.22
Answers
The selling price of the dish if Adam wants to make a profit of 33% should be $8.98.
What should be the selling price?Profit is the excess of the selling price of an item over its cost price. When the selling price is higher than the cost price, a profit is earned. Profit is the difference between the selling price of a good and the cost price of the good.
Profit = selling price - cost price
Percentage is a measure of frequency. It is the ratio of an amount that is expressed as a number out of 100. The sign that is used to denote percentages is %.
In order to determine the selling price of the dish, multiply the cost price of the dish by 100 + percentage profit that Adam wants to earn. Thus, $6.75 will be multiplied by (100 + 33)%. The value gotten is the selling price.
Selling price = (100 + percentage profit) x cost price
(100 + 33) x $6.75
133% x $6.75
1.33 x $6.75 = $8.98
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as Vincent gets older, he tends to look for high-paying jobs, watch for sales, and search for items and opportunities that invite happiness and fulfillment. What does Vincent's behavior demonstrate?
Answers
Vincent's behavior demonstrates rational self-interest.
What does Vincent's behavior demonstrate?Vincent's behavior of seeking high-paying jobs, looking for sales, and searching for opportunities that bring happiness and fulfillment aligns with the concept of rational self-interest. Rational self-interest refers to individuals making choices and pursuing actions that they believe will maximize their own well-being or self-interest.
In this case, Vincent is actively seeking opportunities that offer financial benefits (high-paying jobs, sales) and personal satisfaction (happiness and fulfillment). His actions are driven by the desire to improve his own economic and personal circumstances which is indicative of rational self-interest.
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When considering the results of an Altman Z-Score analysis a score of 3.85 would suggest? A. The company is in financial distress and there is a high probability of bankruptcy in the short term future B. The company is exposed to some risk of bankruptcy C. The company is healthy and there is a low bankruptcy potential in the short-term D. The company is healthy and there is a low bankruptcy potential in both the short and long-term
Answers
Answer: C. The company is healthy and there is a low bankruptcy potential in the short-term.
Explanation:
The Altman Z-score can be used in the prediction of bankruptcy. It should be noted that when the Altman Z-score is close to 1.8, it simply means that the company is heading for bankruptcy, and when the z score is closer to 3, it simply means that the company is doing week and is in a solid financial positioning
Since the z score is 3.85, it means that the company is healthy and there is a low bankruptcy potential in the short-term.
1) Tesla needs to order custom processor chipsfior their cars. The annual demand is
50,000. It cost $5000 to place an order. The chips must be stored in an environmentally friendly location and cost $50 per chip to store annually. The factory is open 360 days a
year. What is the optimal order quantity? What is the number of workdays in an order cycle?
2) The Lancaster Tesla dealer is open to the public for customers to come to the store and test drive a car. On any given Saturday customer arrive at a rate of 5 customer per hour. It takes 1 employee about 30 minutes to complete the test drive with a customer. Some customers take shorter, some take longer. There is expected to be a wait, but what is the average number of customers waiting for service? This will allow Tesla to build the correct size waiting room. Also how long do customers wait in line. This will allow Tesla to plan alternative activities that can take place during the wait. As a manager, what would you recommend Tesla do about the current system in order to improve customer service?
Answers
Tesla needs to identify the optimal order size for its product processor chipsfior, the correct order size can be determined by Economic order quantity.
EOQ = \(\sqrt{\frac{2*D*S}{H} }\)
EOQ = 3162.28
Economic order quantity is the optimal quantity which is to be order in the business. This is inventory management technique.
The number of work days in order cycle are 50,000 / 3162 = 15.8
Tesla should extend its waiting room and allow more customers to wait in the room for they customer service issues. There can be feedback on the service provided so that there can be improvement.
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Current liabilities are important because they determine how much
company has.
A. working capital
B. current assets
C. liquid cash
D. stockholders' equity
Answers
Answer:
working capital is calculated by using the current ratio, which is current assets divided by current liabilities. A ratio above 1 means current assets exceed liabilities, and, generally, the higher the ratio, the better.
why it is important to determine the difference between wants and needs
Answers
Sometimes our desires are so strong they seem to be needed. Similarly to this, we could discover that something we previously thought of as a want is actually something we actually need.
The main distinction in wants and needs lies in the fact that needs are seen as being necessary for our continuing existence and well-being, whilst wants are seen as being extraneous. The distinction between wants and necessities is not as straightforward as it may seem, despite how simple it may seem.
The distinction between wants and necessities—like food, water, and shelter—is very clear-cut.
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Q1: What are the strategically relevant components of the pizza
restaurant segment of the U.S. quick service restaurant industry
macro-environment?
Answers
The strategically relevant components of the pizza restaurant segment of the U.S. quick service restaurant industry macro-environment are as follows:
Technological advancements: In recent years, the pizza industry has seen technological advancements, including the ability to place online orders, which can result in increased customer convenience. Many pizza restaurants have mobile apps that customers can use to order food, making it easier to use their services. Online advertising has also been used by pizza restaurants to reach new customers.
Environmental factors: Pizza restaurants need to consider the effect of weather changes on sales. Extreme weather events can affect sales as people tend to avoid ordering food when they cannot go out of their homes. Pizza restaurant owners need to evaluate how they will deal with such instances.
Demographic factors: Demographics play a crucial role in the success of pizza restaurants. The pizza restaurant industry targets a broad range of customers and has a significant customer base among younger customers. In recent years, there has been an increase in health-conscious customers, leading to changes in the pizza industry, including the addition of new healthy menu items.
Socio-Cultural factors: The pizza industry has experienced increased competition from new entrants such as gourmet pizza restaurants. The preference of customers for the type of pizza and the eating experience has also changed. People prefer pizzas that are customized to their taste buds, including the type of crust and toppings.
Political/Legal factors: Pizza restaurants need to comply with government regulations such as health and safety standards, as well as taxes. The pizza industry is also affected by regulations on labor practices and food labeling requirements.
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Which of the following statements about short-term goals is false?
b.
a. An example of a short-term goal would be "buy a house in 2 years."
You can work on a short-term goal immediately.
Short-term goals can be accomplished quickly.
d. Your short-term goals should be specific.
c.
Please select the best answer from the choices provided
OA
OB
OC
OD
Answers
The false statement about short-term goals is:
You can work on a short-term goal immediately. Option B
The false statement among the optionsWhile it is true that short-term goals are generally goals that can be accomplished in the near future, the immediacy of working on a short-term goal may vary depending on the goal itself and the necessary steps to achieve it.
Some short-term goals may require immediate action, while others may require planning, preparation, or the completion of certain prerequisites before actively working towards them. Therefore, the statement that you can work on a short-term goal immediately is not universally true.
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The CEO is interested in learning more about probability and how it works. The CEO is also asking about how probability and analytics can be integrated into the business model. In the process of looking for information on probability, you find that it is important to understand optimization and forecasting and how they can be applied to benefit the business. Do some research and present the results for the CEO. The following is the necessary information to complete this lab assignment. Deliverables Step 2: Probability Research • Considering the CEO's request, you determine that some research needs to take place. • Define the following terms for the CEO and locate some chart examples of each type of analysis. o Probability o Optimization o Forecasting Step 3: Integrating Data Research for Business • In one to two paragraphs, discuss what role probability and statistics play in business decisions. • In one to two paragraphs, discuss any ethical considerations when doing probability. • Summarize by explaining why probability is a good method for the CEO to consider.
Answers
Step 2: Probability Research Probability, Optimization, Forecasting.
Step 3: Integrating Data Research for Business.
Probability:
Probability is a branch of mathematics that deals with the likelihood of events occurring. It is a measure of uncertainty and is expressed as a number between 0 and 1, where 0 represents impossibility and 1 represents certainty.
Optimization:
Optimization involves finding the best possible solution from a set of alternatives. It aims to maximize desired outcomes or minimize undesirable ones, considering constraints and objectives.
Forecasting:
Forecasting is the process of predicting future events or outcomes based on historical data and statistical models. It helps businesses anticipate demand patterns, market trends, and other factors that can influence decision-making.
Step 3: Integrating Data Research for Business
Probability and statistics play a crucial role in business decisions. They provide a framework for analyzing and interpreting data, assessing risks, making predictions, and supporting evidence-based decision-making.
When working with probability, ethical considerations are important. It is essential to ensure that data used in probability analysis is collected ethically, respects privacy and confidentiality, and adheres to relevant legal and regulatory requirements.
Probability is a valuable method for the CEO to consider because it provides a systematic and quantitative approach to analyzing uncertainty and making informed decisions.
By integrating probability into the business model, the CEO can better understand risks, optimize resource allocation, improve forecasting accuracy, and ultimately enhance strategic decision-making and business performance.
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