There are seven steps in the Strategic Sourcing Methodology. Name at least five, and choose two to discuss in more detail. ( please do not copy previous chegg answers)

Answers

Answer 1

Strategic sourcing is a comprehensive approach to procurement that aims to identify and optimize opportunities for sourcing goods and services to achieve cost savings, enhance quality, and mitigate risks. The seven steps in the Strategic Sourcing Methodology are:

Assess Current State: This involves evaluating the current sourcing practices, understanding the organization's needs, and identifying areas for improvement.

Define Sourcing Strategy: In this step, the organization determines its goals and objectives for sourcing, defines the scope of the sourcing initiative, and establishes criteria for supplier selection.

Market Research and Analysis: Conducting market research helps identify potential suppliers, understand market trends, and assess supplier capabilities, pricing, and performance.

Supplier Evaluation and Selection: This step involves evaluating and selecting suppliers based on predetermined criteria such as cost, quality, delivery, and sustainability. It may include issuing requests for proposals (RFPs) or conducting negotiations.

Contract Negotiation: Negotiating contractual terms and conditions with selected suppliers to ensure favorable pricing, service levels, and risk mitigation. This step is crucial for establishing a mutually beneficial agreement.

Transition and Implementation: Once contracts are finalized, the organization manages the transition from the previous suppliers to the newly selected suppliers, ensuring a smooth implementation process.

Performance Monitoring and Continuous Improvement: Monitoring supplier performance against established metrics and conducting regular performance reviews to drive continuous improvement and address any issues that arise.

Two steps that can be discussed in more detail are:

Market Research and Analysis: This step plays a critical role in identifying potential suppliers and understanding the market landscape. It involves conducting thorough research to gather information on suppliers, market trends, pricing, and supplier capabilities. This includes analyzing supplier profiles, reviewing industry reports, attending trade shows, and leveraging online resources. Market research helps the organization make informed decisions about supplier selection and negotiate favorable terms.

Contract Negotiation: Contract negotiation is a crucial step in strategic sourcing as it determines the terms and conditions of the agreement with suppliers. This involves reaching mutually beneficial agreements on pricing, payment terms, quality standards, delivery schedules, and other contractual clauses. Effective negotiation skills are essential in securing the best possible terms and ensuring a fair and sustainable relationship with suppliers. Successful contract negotiation can lead to cost savings, improved supplier performance, and reduced risks.

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Related Questions

in which type of political system would you expect a person to live in grinding poverty for years

Answers

It’s either capitalism or communism for me! In a capitalist country the wealthy would gain more wealth by using the low-income workers for there task. For example work in low wage jobs forever to pay bills and other parts of life. Without a chance of having extra money to start over.

In a communist country it is said that everyone is treated fairly. This is a good practice, but normally this is not the case and people end up being poor because of government corruption.

Hope this helps!
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What are the potential concerns or risks of acquiring SSI? Explain in detail.

Answers

Potential concerns and risks of acquiring SSI include the potential for unauthorized access to sensitive personal information and an increased risk of identity theft or fraud.

Acquiring SSI introduces the risk of unauthorized access to personal information, such as social security numbers, which are crucial for identity verification and can be exploited for fraudulent activities. Cybercriminals may attempt to breach systems or exploit vulnerabilities to gain access to SSI databases, leading to unauthorized disclosure of sensitive information.

Data breaches can occur due to human error, insider threats, or sophisticated cyberattacks. Breaches can lead to significant reputational damage for the acquiring entity and can result in financial liabilities, legal consequences, and loss of public trust.

Therefore, it is essential for organizations handling SSI to invest in comprehensive security measures, including encryption, access controls, intrusion detection systems, and regular security audits to mitigate the risk of data breaches and protect individuals' privacy.

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Warren peace bookstore issues a note with no stated interest rate in exchange for a building. in accounting for the transaction:

Answers

Answer:

the options are missing, so I looked for them.  

the options are:

The note is recorded at its face amount unless the fair value of the building is readily available. The building should be depreciated over the note’s term to maturity. Both the note and building are recorded at the fair value of the note or the fair value of the building, whichever is more clearly determinable. If fair values of the note and building are unavailable, the note should be recorded at its face amount.

The correct answer is:

4. If fair values of the note and building are unavailable, the note should be recorded at its face amount.

our nonverbal communication includes all of the following except:
a. posture b. tone of voice
c. gestures d. facial expressions e. the job application

Answers

Our nonverbal communication includes posture, tone of voice, gestures, and facial expressions except in job applications.

Nonverbal communication refers to communication without words, such as body language, gestures, facial expressions, and tone of voice. The job application is a written form of communication and is not considered nonverbal communication.

What are the six examples of nonverbal communication?

Smiling, raising your eyebrows, and furrowing your brow are all examples of facial expressions that can communicate a lot about the way you are feeling in the moment. There are also a variety of contexts in which facial expressions play an important role in non-verbal communication.

Hence, the right answer is option E. The job application.

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Paul Duncan, financial manager of EduSoft Inc., is facing a dilemma. The firm was founded 5 years ago to provide educational software for the rapidly expanding primary and secondary school markets. Although EduSoft has done well, the firm’s founder believes an industry shakeout is imminent. To survive, EduSoft must grab market share now, and this will require a large infusion of new capital.

Because he expects earnings to continue rising sharply and looks for the stock price to follow suit, Mr. Duncan does not think it would be wise to issue new common stock at this time. On the other hand, interest rates are currently high by historical standards, and the firm’s B rating means that interest payments on a new debt issue would be prohibitive. Thus, he has narrowed his choice of financing alternatives to (1) preferred stock, (2) bonds with warrants, or (3) convertible bonds.

As Duncan’s assistant, you have been asked to help in the decision process by answering the following questions.

How does preferred stock differ from both common equity and debt? Is preferred stock more risky than common stock? What is floating rate preferred stock?

Answers

Preferred stock is a hybrid security that combines characteristics of both equity and debt, providing investors with fixed dividend payments and a senior claim on assets, but without voting rights.

Preferred stock differs from both common equity and debt in terms of its characteristics and position in the company's capital structure. Preferred stock represents ownership in the company but typically does not carry voting rights. It has a fixed dividend payment, which takes priority over common stock dividends, and it has a senior claim on assets in the event of liquidation. Unlike debt, preferred stock does not require periodic interest payments, and missed dividend payments may or may not accumulate.

Preferred stock is generally considered less risky than common stock because it has a higher priority in receiving dividends and claims on assets. However, it is typically more risky than debt as missed dividend payments can lead to cumulative arrears, and preferred stockholders may not have the same legal recourse as bondholders in the event of default.

Floating rate preferred stock is a type of preferred stock where the dividend rate is not fixed but instead fluctuates based on a benchmark interest rate. This allows the dividend payments to adjust with changes in interest rates, making the stock less susceptible to interest rate risk. Floating rate preferred stock provides investors with the potential for higher yields if interest rates rise, but it also carries the risk of lower yields if interest rates decline.

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Which is not an example of a use of data mining?
a. wikis. b. credit reports. c. targeted direct mail. d. price customization

Answers

Wikis is not an example of a use of data mining. Thus, the correct answer option is (a) wikis.

Data mining is a technique that explores and analyzes the bulk of data to get useful information about trends and patterns. Data mining uses intelligent algorithms and various powerful techniques to solve problems and seize new opportunities. Data mining provides solutions for many problems from a wide range of domains such as business, education healthcare, production, and so on.

Wikis refer to any collaborative websites which allow users to add, edit, and remove content related to various topics. Wikis are widely used for knowledge and information sharing. The most papular example of a wiki is Wikipedia. There is no use of data mining in Wikis, since wikis are just information-sharing collaborative websites.

Examples given in rest of the options use data mining:

Credit reports: In credit report generation, one use of data mining is to analyze the likelihood of repayment of a loan.Targeted direct mail: The use of data mining for targeted direct mail provides an effective way to better target the audience and get the most out of marketing strategy.Price customization: For price customization, data mining is used to alter the price of certain goods or services, based on some specified factors, to appeal customers.

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Multiple Choice
Which of the following illustrates why corn was such a precious commodity to Native Americans?
The kernels were easy to transport.
It was easy to plant and grew quickly.
o One kernel could produce one to two ears.
It could be grown in any type of soil.

Answers

It could be grown in any type of soil

the emergence of the subprime mortgage market following the recession of 2001 made it increasingly difficult for low-income individuals to obtain a mortgage. a. true b. false

Answers

The emergence of the subprime mortgage market following the recession of 2001 made it increasingly difficult for low-income individuals to obtain a mortgage. b. false

A subprime mortgage is typically given out to applicants with bad credit. Because the lender believes the borrower has a higher-than-average chance of defaulting on the loan, a prime conventional mortgage is not given.

To make up for taking on additional risk, lending institutions frequently charge interest rates on subprime mortgages that are significantly higher than those on prime mortgages. These mortgages are frequently ARMs, meaning that the interest rate has the ability to rise at particular intervals.

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laura rents a house. she pays her rent on time and moves out at the end of six months. after she moves out, laura's lease is an executory contract. false true submit answer

Answers

False Laura rents a house. She pays her rent-on time and moves out at the end of six months. After she moves out, Laura's lease is an executory contract.

What is an illustration of an executory agreement?

A lease for an apartment is one example of an executory contract. The lessor is expected to continue taking care of the property until the contract's end date, and the lessee is expected to continue paying.

What is a delineation of an executory understanding?

An example of an executory contract is an apartment lease. The lessee is expected to continue paying and the lessor is expected to continue taking care of the property until the end of the contract.

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what your name answer in 1 minute​

Answers

Answer:

Adrean :)

Explanation:

eugh

an employee can be dismissed if their job surplus to requirements' outline why this state ment is false

Answers

Hiring labour is different from buying other goods and services, and the contract between the employer and the employee is incomplete. It does not cover what the employer really cares about, which is how hard and well the employee works.

Shepherds company. Manufactures two types of shoes sneakers and boots .Each sneakers requires 2 direct labor hours and boots require 1.5 direct labor hours.The overhead rate. Per direct hour is $2 .Direct materials for sneakers and boots is $15-$20 .Respectivelay.The total unit cost for each product.

Answers

The question is incomplete. The complete question is :

Shepherd Company manufactures two types of shoes - sneakers and boots. Each sneaker requires 2 direct labor hours and boots require 1.5 direct labor hours. The overhead rate per direct labor hour is $2. Direct materials for sneakers and boots is $15 and $20, respectively. Direct labor for sneakers and boots is $5 and $7, respectively. The total unit cost for each product is:

Solution :

The total unit cost for a product = direct materials cost + direct labor cost + overhead cost

The total unit cost for the sneakers and the boots are :

Particulars                                           Sneakers     Boots

Direct material cost                                  $15           $20

Direct labor cost                                        $5            $7

Overhead cost                                           $4            $3

Total unit cost                                           $24          $30

The overhead rate per direct labor hour is $2

So, the overhead cost per unit of :

Sneakers : 2 hours at the rate $2 per hour = $4

Boots : 1.5 hours at the rate of $2 per hour = $3

Hence the answer is : total unit cost = Sneakers: $24; Boots: $30

A company wants to determine what price consumers will pay for a new sandwich. At one store, the company charges $3. 59. At another comparable store, the company charges $4. 59. Sales are tracked at both locations for a one-month period. The data collected in this example is __________ data

Answers

Sales are tracked in both locations over a period of one month. The data collected in this example is quantitative data.

What is quantitative data?

It corresponds to information that can be measured numerically, that is, it is numerical and statistical data, generating non-subjective and reliable conclusions.

Therefore, quantitative data provide a structured and reliable basis for a research project, through information measured by graphs, indexes and calculations.

In this case, since the company wants to determine what price consumers will pay for a new sandwich. and compares the prices at the locations, the data collected in this example is qualitative data.

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When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D

Answers

Answer:A, Your personal information may be used in ways you do not want

Explanation:

If it is a unsafe site than there for your personal information can go places you do not want them to.

When a site is unsafe, it means your personal information may be used in ways you do not want. Thus, option 'A' is the correct option.

What does it mean when a website is unsafe?

External connections to websites with phishing, malware, or unwanted software are known as unsafe domains. Phishing is when a website imitates another one in an effort to fool visitors into divulging personal or financial information. When you visit an insecure website, you run the risk of having your personal information compromised and/or having malicious malware installed on your system.

Additionally, you can fall prey to a phishing attack, or someone else might watch your activity or use your resources for their own gain. If the content you're seeking to view is harmful or misleading, a warning will appear. These websites are frequently referred to as phishing or virus sites. If you clicked on a phishing link, the first thing you should do is immediately unplug your device from the internet.

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What is the meaning of “place” in the 4 Ps of marketing?

A. where a company is situated
B. the site of a company’s warehouse
C. the location from which a customer can purchase products
D. the location where the purchased product is kept

Answers

Answer:

C. the location from which a customer can purchase products

Explanation:

In the marketing mix, place describes the venue or the selling location. Place defines where to sell the products and how customers will get the purchased items.

Place describes the ideal locations for converting potential customers to actual paying customers. It answers the question, ''where will sales be conducted ?'' In a store, a specialized retail center, a supermarket, online, or all.

Answer:

D. the location where the purchased product is kept

Explanation:

hussain after doing his graduation has decided to run a retail shop as a source of livelihood. ii. He procures the goods from the wholesalers according to the consumer's demand and maintains a regular supply of goods to his customers. [5] TGIS-Raipur 4 / 5 iii. Customers are well satisfied with his services due to which his sales turnover is very high and he is earning a good return on his capital employed. iv. Seeing his Successful business, two other retailers have also opened their shops in the same area giving him tough competition reducing his market share and margin of profits. But Rohit knows, in spite of his best efforts put into the business, there is always the possibility of inadequate profits or losses. a. Identify the economic activity Rohit is engaged in. b. Enlist the features of identified economic activity with reference to the underlined words in each sentence given above.​

Answers

A) Business is an economic activity.

B) features are profit earning- as it is essential for survival growth and expansion of business

Dealings in goods and services on a regular basis - and not merely one single transaction of sale or purchase.

The four major economic activities are resource management, production of goods and services, distribution of goods and services, and consumption of goods and services.

Agriculture, fisheries, mining, and forestry. Manufacture of finished products. Manufacture of technology, consumer goods, furniture, vehicles, and clothing. The provision of intangibles is commonly referred to as a service.

Economic activity is the activity by which people provide, produce, purchase or sell goods and services to meet their daily needs. Economic activity includes all activities related to the manufacture, sale, or use of products or services.

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Assume that the Swiss interest rates are higher than U.S. interest rates, and that interest rate parity exists. Which of the following is true?
a. Americans using covered interest arbitrage ear the same rate of return as Swiss investors who attempt covered interest arbitrage.
b. Americans who invest in the United States earn the same rate of return as Swiss investors who invest in Switzerland.
c. Swiss investors who attempt covered interest arbitrage ear a higher return than American investors who attempt covered interest arbitrage.
d. Americans who invest in the United States earn the same rate of return as Swiss investors who attempt covered interest arbitrage.

Answers

The correct answer is d. Americans who invest in the United States earn the same rate of return as Swiss investors who attempt covered interest arbitrage.

This is because interest rate parity exists, which means that the difference in interest rates between two countries is equal to the percentage difference between the forward exchange rate and the spot exchange rate. Therefore, any potential gains from covered interest arbitrage would be eliminated by the exchange rate movements.

For example, if the interest rate in Switzerland is 5% and the interest rate in the US is 3%, Swiss investors would be attracted to invest in the US to earn a higher return. However, this increased demand for US dollars would cause the exchange rate to appreciate, which would decrease the return earned by Swiss investors. Similarly, American investors would not be able to earn a higher return by investing in Switzerland, as the exchange rate movements would eliminate any potential gains.

Therefore, interest rate parity ensures that investors in both countries earn the same rate of return, regardless of the difference in interest rates. The correct answer is d. Americans who invest in the United States earn the same rate of return as Swiss investors who attempt covered interest arbitrage.

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According to your results of the test, write a 4-5 sentence summary of your personality.
My test results describe me as a ______ parrot______ (animal), which means that I…


WHOEVER HELPS GETS 20 POINTS

Answers

Answer: am rebellious, outgoing, and expressive

Explanation:

3. A fine-dining restaurant has been making every- thing from scratch for the five years it has been open; it is the only operation in the area known for scratch- cooking. The management hires a new chef who does a make–buy analysis only to discover that she can get much better pricing on many of her products if she buys them premade. After a tasting comparison, she discovers that the premade products are of high quality and taste only slightly different from her own. Should she switch to the premade products? Would your answer be different if this decision took place when the restaurant first opened?

Answers

Answer:

No

Explanation:

The premade products could have been contaminated with any type of disease because she doesn't know what went inside whereas making it from scratch means she is able to monitor and remove and contaminated product.

:)

.No-Growth Industries pays out all of its earnings as dividends. It will pay its next $3 per share dividend in a year. The discount rate is 6%.
a. What is the price-earnings ratio of the company?
b. What would the P/E ratio be if the discount rate were 5%.

Answers

a. The price-earnings ratio of the company is 50 (P/E ratio = Price per share / Earnings per share = $3 / $0.06).

b. If the discount rate were 5%, the P/E ratio would be 60 (P/E ratio = Price per share / Earnings per share = $3 / $0.05).

The price-earnings ratio (P/E ratio) is a valuation metric that measures the price investors are willing to pay per unit of earnings generated by a company. In this case, No-Growth Industries pays out all its earnings as dividends, so the earnings per share is the same as the dividend per share.

a. To calculate the P/E ratio with a discount rate of 6%, we divide the next dividend per share ($3) by the discount rate (0.06), resulting in a P/E ratio of 50.

b. If the discount rate were 5%, we divide the next dividend per share ($3) by the discount rate (0.05), resulting in a P/E ratio of 60.

The P/E ratio is an important indicator for investors to assess the relative value of a company's stock. A higher P/E ratio suggests investors are willing to pay a higher price for each unit of earnings, indicating higher growth prospects or market expectations.

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5. Based on information presented in the video, construct an argument that defends the idea that we should not lower taxes for the wealthiest Americans.

Answers

Answer:

We should not lower taxes for the wealthiest Americans because they own and run a lot of companies and businesses that we use. Lower income Americans want their leaders to understand or know what it’s like to be less wealthy so they’ll be more sympathetic towards lower income people and won’t do everything out of the want for more money. If they have to pay lower taxes, then that takes away from their ability to sympathize with lower income homes, and that would upset a lot of people.

Explain how the U.S. economic system differs from the economic system in Cuba.

Answers

The economy of Cuba is a planned economy dominated by state-run enterprises. The government of Cuba owns and operates most industries and most of the labor force is employed by the st

a tax imposed on the sellers of a good will raise the

Answers

A tax imposed on the sellers of a good will raise the price buyers pay and lower the effective price sellers receive.

What is tax?

The term tax is referring as, A tax is a mandatory commercial as the undertaking charge or some other type of levy bring down on the taxpayer (an individual or legal entity) by a polity social group.

As, when the tax imposed on the sellers of a good will raise the overall cost of production that of the good will increase, as this quantity was supplied at the every price level.

Therefore, As a result, the demand of the supply analysis, the curves will shift in the left as responses in the tax.

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List the six areas of interest.

Answers

Answer:

Six areas of interest are: building,thinking,creating,holding, persuading and organizing.

Explanation:

I honk they’re Building,thinking,creating,holding,persuading and organization

How can an employee best help to maintain a positive work environment?
ОА.
Avoid interacting with other staff members.
OB.
Focus on the good things.
O C.
Socialize every evening with other staff members.
OD.
Maintain good relations with the management.

Answers

Answer:

D. Maintain good relations with the management.

Answer:

it is (C)

Explanation:

What if this website was a dating and show yourself and butt app/website?

Answers

it’s not but that would be weird considering a lot of people on here are minors

what sort of companies might employ a private company marketplace

Answers

A private company marketplace (PCM) is a digital platform that allows a company's employees to buy goods and services directly from pre-approved vendors.

A private company marketplace (PCM) is a digital platform that allows a company's employees to buy goods and services directly from pre-approved vendors. It is a type of digital procurement platform that streamlines the procurement process by automating it. PCM is a relatively new concept, but it is quickly gaining popularity in various industries.
The following types of companies might employ a private company marketplace:
1. Companies with a large workforce:
Companies with large numbers of employees have complex procurement procedures that can benefit from a PCM. A PCM streamlines the procurement process and ensures that employees get what they require with ease.
2. Companies with high turnover:
Companies with a high turnover rate need an efficient system to manage the procurement process. A PCM ensures that employees have access to goods and services from approved vendors at all times.
3. Companies with multiple locations:
Companies with multiple locations face significant challenges when it comes to procurement. A PCM provides a centralized platform to manage procurement across multiple locations.
4. Companies with a diverse range of products and services:
Companies that have a diverse range of products and services might employ a PCM to ensure that employees have access to the goods and services they need to perform their job.
In conclusion, companies that employ a private company marketplace are those that have a large workforce, high turnover rate, multiple locations, and a diverse range of products and services. A PCM streamlines the procurement process and ensures that employees have access to the goods and services they need from approved vendors.

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What are self-service BI tools?
Business intelligence tools that do not require any particular BLANK
expertise are called self-service tools.

Answers

Answer:

Technical

Explanation:

100% on test

if the required reserve ratio

if the required reserve ratio

Answers

Answer:

4

Explanation:

Formula:  1 / Reserve money ratio   ->    1 / 0.25 = 4

on what grounds is the Trump administration investigating imposing tariffs on imported automobiles?

Answers

Answer:

The clock has run out on President Donald Trump's "Section 232" tariffs on imports of foreign-made cars and auto parts, after he failed to announce a decision by a self-imposed deadline, trade law experts say.

The U.S. administration may have to find other means if Trump wants to tax European or Japanese car imports, a key part of the U.S. president's pledge to make America's trade relationships more fair, the experts say.

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Show more pls help need now will give branilest Question One: Multiple Choice Questions (10 Marks) 1. A policy-induced movement along the production possibility frontier can be justified in terms of ... a) the Pareto criterion b) the Bergson criterion. c) the Pareto and Bergson criterion. d) None of the above options are correct What two narrow waterways located at the west end of the anatolian peninsula. what is the term used for the situation where a potential customer arrives at a service operation and decides to leave upon seeing a long line? Question 10 of 25What is directly responsible for matter moving and changing in an animal'sbody?A. EnergyB. FuelC. SunD. WaterSUMIT a metal complex absorbs light mainly at 420 nm. what is the color of the complex? a metal complex absorbs light mainly at 420 nm. what is the color of the complex? yellow green purple red orange Speedy's, a fast food facility, offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating. What strategy is Speedy's using to gain competitive advantage?A. A best-cost provider strategy B. A focused low-cost provider strategy C. A broad differentiation strategy D. A focused differentiation strategy E. A low-cost provider strategy Use your data, the equation to the right, and the specific heat of water (4.184 J/g C) to compute the specific heat values of each metal. Use a calculator and round to the nearest hundredth place. Which is greater 0.1 or 3.7 Which of the following islands was first settled by the Europeans? a: b = 7:4b: c= 2:5Work out : cGive your answer in its simplest form A scientist heats a 300-g sample of iron from 30C to 50C. How much heat did the iron absorb.The specific heat capacity of iron is 0.45 J/gC.OOd3,000)2,700)202,500)2,500) Choose ALL the answers that apply.The stomach____receives food from the esophagusabsorbs extra waterbreaks down foodmixes, mashes, and churns foodabsorbs digested nutrients How much energy is transferred when the voltage is 130 v, and the charge is 2. 5 c?. you plan to develop a survey and would like to compute a single score to represent the construct you are measuring. which type of items should you use? group of answer choices open-ended forced alternative multiple choice likert scales Your friend Mona claims that the average student debt immediately after graduation in the United States is $24,500. You want to see if your university has lower student debt at graduation. To test this, you randomly collect data from 40 students who recently graduated. The average of your sample is $22,413, with an associated standard deviation of $7,312. Using this data to perform 2) A cell phone tower casts a shadow that is 100 feet long. At the same time, Lia stands near the towerand casts a shadow that is 3 feet 4 inches long. If Lia is 4 feet 6 inches tall, how tall is the cell phonetower?