Answer:
1. Almost all dissatisfied guests complain.
FALSE, ONLY ABOUT 5-10% OF DISSATISFIED CUSTOMERS ACTUALLY COMPLAIN. SOMETIMES THAT RATIO IS EVEN LOWER DEPENDING ON THE INDUSTRY.
2. About 13 to 16 guests out of every 100 are purposefully out to scam us and get something for free.
FALSE
3. If you solve a guest problem efficiently, quickly, and delightfully...that guest may be even more likely to use your product or service again than if he or she ever had a problem in the first place.
TRUE, ABOUT 95% OF THE GUESTS WHOSE PROBLEMS WERE SOLVED IMMEDIATELY AND DELIGHTFULLY GENERALLY RETURN OR HAVE A VERY POSITIVE OPINION ABOUT THE HOTEL.
4. Dr. Ricci gave two examples of excellence in guest service from which organizations?
C) Publix, JetBlue
5. It is only likely for a guest to receive outstanding service at luxury brands. That's why Ritz-Carlton, Mandarin Oriental, Four Seasons, and others are the best at what they do.
FALSE
Not all dissatisfied guests complain, and the proportion of guests that are trying to scam is difficult to accurately gauge. Effective problem resolution can encourage repeat business with a guest. Outstanding service is not restricted to luxury brands.
Explanation:1. While it may seem that almost all dissatisfied guests complain, this statement is not always true and can vary depending on the context and specific situation. It should be noted that satisfaction levels can be subjective and not all dissatisfied guests voice their complaints.
2. The claim that about 13 to 16 guests out of every 100 are trying to scam is subjective and also varies with different sectors of hospitality business. It's hard to put a concrete percentage on such behavior.
3. If a guest's problem is solved efficiently, quickly, and delightfully, the guests are more likely to use your product or service again. This speaks to the importance of effective and prompt customer service in generating repeat business.
4. Without the specifics of Dr. Ricci's examples, I cannot verify which organizations Dr. Ricci used for examples of excellent guest service.
5. It is not only luxury brands like Ritz-Carlton, Mandarin Oriental, Four Seasons that provide outstanding service. Many non-luxury brands also excel in guest service, debunking the false impression that exceptional service is exclusive to luxury brands.
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Ted's Manufacturing makes two products, B and C. They each take 2 direct labor hours and 2 machine hours to produce. A batch of Product B, however, uses twice the number of machine set-ups and requires 3 times as many materials requisitions as does Product C. Which of the following is most likely true?
a. The product cost of Product B will be higher under ABC than under traditional costing.b. The product cost of Product C will be higher under ABC costing than under traditional costingc. Traditional costing assigns a product cost that is too low to Product C.d. Traditional costing assigns a product cost that is too high to Product B.
Answer:
a.
Explanation:
Based on the scenario being described within the question it can be said that the statement that is most likely true is that the product cost of product B will be higher under ABC than under traditional costing. This is because Activity-based costing (ABC) bases their overhead costs on the actual consumption by each while traditional costs overhead is applied based on the amount of machine hours consumed. Therefore since product B is characterized as having lots of consumption then it's product cost will be higher under ABC costing.
A ________ consists of producers, wholesalers, and retailers acting as a unified system. the system can be dominated by any one of the interdependent members.
Answer:
The correct option is vertical marketing system
Explanation:
Vertical marketing system is an approach to collaborative marketing where the active player in the distribution network,the manufacturers as well as the middlemen work together collaboratively in order to deliver value to the final consumers,who are the main reason for being in business.
However,there is need for one of the partners in vertical marketing system to take up a domineering role such that the processes can be coordinated such domineering partner.
A Vertical Marketing System is a unified structure of producers, wholesalers, and retailers where one member can dominate. This dominant member can influence prices, terms, and overall business direction.
Explanation:A Vertical Marketing System consists of producers, wholesalers, and retailers acting as a unified system. It embodies a structure where each business in the supply chain works together, resulting in a more efficient and more cohesive chain. In this type of system, one member of the chain, be it the producer, the retailer, or the wholesaler, can dominate the system. They hold the lion's share of power and decision-making authority. This power may allow them to set prices, establish terms, and dictate the general pace and direction of the business.
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Specific instances of a category are represented at the _____ level of the concept hierarchy.
A) subordinate
B) basic
C) ordinate
D) superordinate
Answer:
A) subordinate
Explanation:
Jennifer has offered to sell her laptop computer for $750 to Jack. She tells Jack that the computer is only six months old but, in fact, it is three years old, and Jennifer wants to unload the lemon. Jack agrees to buy the computer based on Jennifer's representations. This contract is _________.
a. a void agreement because of the fraud involved.b. a voidable contract, one that Jack can void.c. a voidable contract, because it is unilateral.d. a void contract because of the UCC.
Answer:
B) a voidable contract, one that Jack can void.
Explanation:
A voidable contract is valid until one of the parts decides to void it. In this case, if Jack decides to purchase Jennifer's computer and later discovers that she lied about how old it was, he can void the contract and return the computer to get his money back.
What Jennifer is doing is basically lying about the material facts of the product that they are bargaining and it represents a valid reason for voiding the contract.
The Nordstrom department store chain emphasizes the great lengths to which it goes in customer service. In fact, when it moves into a mall, all the other stores have to improve their own models of customer service. How is Nordstrom using norms
Answer:
to emphasize the organization’s important values and identity
Explanation:
Nordstrom's organizational culture is centered around providing outstanding customer service.
Unlike many other retail companies that rely on extensive rules and regulations, Nordstrom operates with a simple principle encapsulated on a small card given to employees. This card states that their number one goal is to provide outstanding customer service with the guideline of using good judgment in all situations. This empowerment leads to customer service heroics, setting a high standard within the retail industry. Stories of Nordstrom's exceptional service, such as accepting return of tires from its previous store identity or going to great lengths to provide products that are not even carried by their stores, exemplify their culture.
Despite facing the retail sector's typical challenges like low wages and long hours, Nordstrom motivates its staff through a culture that values exceptional customer service and gives employees the autonomy to make decisions. This motivation is further supported by Nordstrom's reputation for generous employee rewards and recognition as one of the '100 Best Companies to Work For' by Fortune magazine.
Under the terms of Jenny's auto insurance policy, she must pay the first $500 of any physical damage loss to her vehicle before her insurer will pay anything. What type of deductible is included in Jenny's auto insurance policy
Answer:
C. Straight deductible
Explanation:
Straight deductibles are deductibles that specifies the amount (either in percentages or dollars terms) of a loss that one is expected to pay for each loss before the insurance company pays for the remaining cost. It is the deductible that is attached to each loss and it is subtracted before any loss payments is made. In this situation, the sum of $500 that Jenny must pay of any physical damage loss to her car is what we refer to as a straight deductible. These types of deductibles are used in the most personal lines of insurance like property, medical and so on.
Ceres corporation acquired a mineral mine for $6,000,000 of which $600,000 was ascribed to land value after the mineral has been removed. geological surveys have indicated that 9 million units of the mineral could be extracted. during 2017, 1.8 million units were extracted and 1.2 million units were sold. what is the total amount of depletion recorded in inventory for 2017?
The total amount of depletion recorded in inventory for Ceres Corporation in 2017 for the mineral mine amounts to $720,000, which is calculated based on the depletion rate per unit and the number of units sold.
Explanation:The subject of this question deals with the calculation of depletion for a mineral mine. Depletion is the allocation of the cost of natural resources over time. In this case, Ceres Corporation must determine the depletion cost to include in the inventory for the mineral units extracted but not necessarily all sold in 2017. To calculate depletion, we must first find the depletion per unit, which is done by subtracting the value of the land after minerals are removed from the acquisition cost and then dividing by the total estimated units. The acquisition cost of the mineral mine is $6,000,000, and the value of the land after mineral removal is $600,000, giving us $5,400,000 for the total mineral value to be depleted. With an estimated 9 million units extractable, the depletion per unit is $0.60.
During 2017, 1.8 million units were extracted. However, since depletion is included in the inventory, only the depletion corresponding to the units sold is factored. Since 1.2 million units were sold, the depletion expense to be recorded in inventory is 1.2 million units multiplied by $0.60 per unit, which equals $720,000.
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Nori can be purchased from international suppliers in Korea and China and from local suppliers. A number of factors must be considered when choosing a supplier, and often concessions must be made. In the selection of the nori supplier, which two factors should be prioritized?
Answer:
There are many factors which needs to be considered while selecting and choosing a supplier.
Cultural Fit: Supplier should understand your culture, norms and values so he/she can provide you the most suitable raw materials and products for your organization by considering your local needs and wants.
Cost: Cost should be as less as possible so you can remain competitive in your local market.
Flexibility : Supplier should be flexible for your changing needs and wants so he/she can respond quickly to your changing orders.
Quality: Supplier should provide you the quality raw material and products so you can provide the same quality to your customers.
The HR department at Bailey Services is considering offering telecommuting as an option to some experienced employees. At a meeting to formalize the move, the heads of the different departments met with Laura Watson, the HR manager. Laura, who thought this meeting would be a short one, was proven wrong when all the members, who had previously agreed that telecommuting would work in their company, began coming up with divergent views. By the end, two divisions claimed having major concerns about allowing employees to telecommute, and those in favor of it were equally vocal. This scenario depicts the operation of: ________.
A) conformity
B) groupshift
C) role conflict
D) groupthinkE) social loafing
Answer: B - Groupshift.
Explanation:
When any group comes together and has different views it can cause a groupshift. This is different than having a discussion, conformity, role conflicts, etc. The groupshift will usually go for the most extreme ideas out of all others and go with that instead. It only takes one vocal person in the group to shift the ways the others think and change the views they had before the meeting.
The most dominant speaker in the group will be the one to persuade the others to join in their views and therefore making it a groupshift.
Agile project management is an approach to _______________product development time while _____________ risk through continuous interaction between the customer and small self-organizing teams that produce increments of working product
Answer:
Reduce, Minimizing
Explanation:
As per the given scenario Agile product, management wants to reduce the time for making the product on the other hand Agile minimizing the risk by making interaction from the customers and self-organizing team by taking care of quality, price, quantity, etc.
Since the company wants to reduce its product development time with the motive to produce more and more products in lesser time so that it delivers the product to the customer within the prescribed time.
In a product modification _______. an existing product s taste, texture, sound, smell, or appearance is usually altered the new product is in a different product category an existing product's dependability and durability is lowered the original product remains part of the product line the original product does not remain part of the product line
Answer:
The correct answer is that the existing product is altered or modified as per the texture, sound, taste and appearance.
Explanation:
Product Modification is the term which is defined as the attempt of the company to extend the length of the product life cycle through making large or small changes to the product in order to keep the customers interested in the product.
In short, it is the procedure to change the existing product as per the needs, taste of the customer. For example, change in the packaging of the product.
So, in the procedure of product modification, the existing product is altered or modified as per the texture, sound, taste and appearance.
In a product modification, an existing product's physical or intangible characteristics are usually altered to improve its appeal. Differentiation, which can occur on both tangible and intangible levels, is essential for attracting consumers and staying competitive in the market.
Explanation:In a product modification, an existing product's taste, texture, sound, smell, or appearance is usually altered, with the intention to make the product more attractive to consumers and potentially capture a wider market segment. Such modifications might also include intangible aspects like guarantees of satisfaction, reputation for high quality, or services such as free delivery, which can all serve as points of differentiation.
Product differentiation is key in capturing consumer interest and can happen both on tangible and intangible levels. For example, consumers develop preferences for certain brands of ketchup, beer, or cola not necessarily based on taste, which might be indistinguishable in blind tests, but rather due to factors like brand image, advertising, and past habits. These intangible aspects, such as a brand's reputation or advertising campaigns, can significantly influence consumer choices by shaping the perceived value of the product.
Variety is another aspect of differentiation, as seen in products like orange juice, which is offered with variations like pulp levels and nutrient fortifications to appeal to different consumer preferences. Companies frequently update or modify their products to stay competitive, which can sometimes frustrate consumers who prefer the original versions. Nonetheless, these adjustments are often essential for maintaining a brand's relevance in the market.
A rumor starts that says a bank has suffered significant losses and may not be able to honor its promises to depositors. This causes most of the depositors to line up in front of the bank the next morning wanting to withdraw their deposits. This is an example of:
A. Liquidity riskB. Operational riskC. Interest rate riskD. Credit risk
Answer:
A. Liquidity risk
Explanation:
Since in the question it is mentioned that the rumor has started stated that the bank has suffered significant losses due to which they are unable to honor their promises to depositors with resulted that the depositors withdraw their deposit in the next morning.
This situation represents the liquidity risk as the bank is not able to repay its short term obligations or debt due to which they have been suffered from the losses as it is a situation when the current assets are not converted into the cash within 12 months.
Moe's Restaurant recently advertised that it offered unlimited pasta and burritos for $15 on Friday nights. However, when customers tried to avail the offer, they were told that enrolling for a membership was mandatory for the offer. The membership fee turned out to be $10. The membership condition was not mentioned in Moe's advertisement. Which form of service gap can be seen in the given example?
A. Market gap
B. Communications gap
C. Knowledge gap
D. Delivery gap
E. Research gap
Answer: B. Communications gap
Explanation: Communication gap could be said to exist when there is misinterpretation of messages or information between the speaker and receiver or complete failure to disseminate certain information between the communicating parties. In the context above, communication gap exists once Moe's restaurant had failed to mention the importance or compulsion of being a member as part of the terms required in other to be eligible for it's campaigned offer.
Reyes Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $289,920, budgeted machine-hours were 19,200. Actual factory overhead was $294,920, actual machine-hours were 19,750. How much overhead would be applied to production?
Answer:
Allocated MOH= $297,435
Explanation:
Giving the following information:
Budgeted factory overhead was $289,920
budgeted machine-hours were 19,200.
Actual machine-hours were 19,750
First, we need to calculate the estimated overhead rate.
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 289,920/19,200= $15.06 per machine hour.
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 15.06*19,750= $297,435
Answer:
Applied Overhead $ 298225
Explanation:
Reyes Corporation
Budgeted factory overhead $289,920,
Budgeted machine-hours 19,200
Actual factory overhead $294,920,
Actual machine-hours were 19,750
Overhead Rate = Budgeted factory overhead/Budgeted machine-hours
Overhead Rate = $289,920/ 19,200= 15.1
Applied Overhead = Overhead rate * actual machine hours
Applied Overhead = 15.1 * 19750= $ 298225
Firms classified as being part of the sharing economy and collaborative consumption are still considered too risky to attract substantial venture capital investment. True or False
Answer:
False
Explanation:
The collaborative consumption of goods and services based on a peer to peer model. As its, a capitalist economy has many active producers, and sellers on one side and passive consumers on the other. The sharing economy is based on the access to the shared goods and services. Poses risks to the venture capital that have a high growth potential. As the startups face uncertainty the venture capital can lead to a high level of failure. Example of the merges and acquisitions and joint ventures.When a company arranges two or more marketing channels to target one or more customer segments, it is called a(n) ________ system. Administered vertical marketing Conventional distribution Horizontal marketing Corporate vertical marketing Multichannel distribution
Option E
When a company arranges two or more marketing channels to target one or more customer segments, it is called a(n) Multichannel distribution system
Explanation:The multichannel distribution system is a system or edifice in which a single company establishes up two or more sales and marketing courses to approach one or more customer sections. Distribution channels can be real stores, imprinted websites, marketplaces like Amazon and eBay, and through the mail.
A multichannel distribution system enables you to afford your customers with new ways to shop in. Going multichannel also empowers merchants to exhibit their products to new clients and first-time consumers, driving to more product sales.
A stock has a current annual dividend of $6.00 per year and it is expected to grow by 3% (0.03) a year. It is expected that two years from now the stock will sell for $90.00 a share. If the interest rate is 5% (0.05), the dividend-discount model predicts the stock's current price should be:
A) $94.90B) $93.29C) $101.30D) $94.30
Answer:
B) $93.29
Explanation:
Future value of stock $90
PV Factor 1/(1.03)^2
Present value of stock 90/1.03^2=$81.63
Present value of dividends =6+6/1.03=11.82
Total of present value of stock and dividend=$81.63+$11.62=$93.29
Final answer:
Using the Dividend-Discount Model with a discount rate of 5%, the present value of the expected dividends and sale price of a stock is calculated. This results in a current stock price of $93.29, which aligns with option B).
Explanation:
The Dividend-Discount Model (DDM) is used to estimate the present discounted value (PDV) of a stock based on its future dividend payments and expected sale price. In this case, a stock with a current annual dividend of $6.00 expected to grow by 3% per year, and a future sale price of $90.00 after two years, must be valued considering a discount rate of 5%. To find the current price, we calculate the present value of the dividends for the next two years plus the present value of the sale price expected after two years.
First, calculate the dividends for the next two years, accounting for growth:
Year 1 Dividend: $6.00 * (1 + 0.03) = $6.18
Year 2 Dividend: $6.18 * (1 + 0.03) = $6.37
These dividends are then discounted back to their present values:
Present Value of Year 1 Dividend: $6.18 / (1 + 0.05) = $5.89
Present Value of Year 2 Dividend: $6.37 / (1 + 0.05)^2 = $5.77
Next, calculate the present value of the sale price at the end of year two:
Present Value of Sale Price: $90.00 / (1 + 0.05)^2 = $81.63
Add these three present values to get the total current price of the stock:
Total Current Price: $5.89 + $5.77 + $81.63 = $93.29
Therefore, the current price of the stock using the dividend-discount model should be $93.29, which corresponds to option B).
The vice president of operations of Recycling Industries is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year for each division are as follows:
Business Division Consumer Division
Sales $42,800,000 $56,000,000
Cost of goods sold 23,500,000 30,500,000
Operating expenses 11,424,800 14,300,000
Invested assets 34,240,000 70,000,000
Required:
1. Prepare condensed divisional income statements for the year ended December 31, 20Y8, assuming that there were no service department charges.
2. Using the DuPont formula for return on investment, determine the profit margin, investment turnover, and return on investment for each division. If required, round your answers to two decimal places.
3. If management desires a minimum acceptable return on investment of 10%, determine the residual income for each division.
4. Discuss the evaluation of the two divisions, using the performance measures previously determined in parts (1), (2), and (3).
Divisional Income Statements
1. Prepare condensed divisional income statements for the year ended December 31, 20Y8, assuming that there were no service department charges.
Recycling Industries
Divisional Income Statements
For the Year Ended December 31, 20Y8
1
Business Division
Consumer Division
2
Sales
3
Cost of goods sold
4
Gross profit
5
Operating expenses
6
Income from operations
Final Questions
2. Using the DuPont formula for return on investment, determine the profit margin, investment turnover, and return on investment for each division. If required, round your answers to two decimal places.
Profit Margin Investment Turnover ROI
Business Division
Consumer Division
3. If management desires a minimum acceptable return of investment 10%, determine the residual income for each division.
Residual Income
Business Division $
Consumer Division $
4. Discuss the evaluation of the two divisions, using the performance measures previously determined in parts (1), (2), and (3).
On the basis of income from operations, the Division is more profitable. However, income from operations does not consider the amount of invested assets in each division. On the basis of the rate of return on investment, the Division is more profitable. Even though the Division has a higher profit margin, the Division has a higher investment turnover, which generates the higher rate of return on investment. On the basis of residual income, the Division is the more profitable of the two divisions.
Answer:
Recycling Inductries
1. Condensed Divisional Income Statement for the year ended Dec 31 20Y8
Business Division Consumer Division
$ $
sales 42,800,000 56,000,000
Cost of Goods Sold (23,500,000) (30,500,000)
Gross Profit 19,300,000 25,500,000
Operating expenses (11,424,800) (14,300,000)
Net Income 7,875,200 11,200,000
2. Using Duo point Analysis
Profit Margin = Net Income / sales
7,875,000 * 100% 11,200,000 * 100%
42,800,000 56,000,000
= 18.4% 20.0%
Investment Turnover = Sales / Invested asset
42,800,000 56,000,000
34,240,000 70,000,000
= 1.25 0.8
Return on Investment using Duo-point = Profit margin* Investment turnover
Business dividion = 18.4% *1.25 = 23%
Consumer division = 20% * 0.8 = 16%
3. Residual Income
Business dividion Consumer division
Net income $7,875,200 $11,200,000
Imputed cost* (3,424,000) (7,000,000)
Residual Income 4,451,200 4,200,000
4. Evaluation of performance of eaxh division
In term of profit, consumer division perform better than business division but in term of return on investment, business dividion has better performance. in term of residual income, business dividion is better in tem of performance than the consumer division.
Explanation:
Choose all answers that apply.
1. The strike allowed workers to make demands as a group.
2. The strike cost the company money because less was produced.
3. The strike disrupted travel and shipping.
4. The company met all of the workers’ demands.
Answer:
a,b, and c.
Explanation:
Answer:A.The strike allowed workers to make demands as a group.
B.The strike cost the company money because less was produced.
C.The strike disrupted travel and shipping
Explanation:
A computer company had $3,000,000 in research and development costs. Before recording these costs, the net income of the company was $3,400,000. What is the net income or loss after these costs have been properly accounted for
Answer:
Net income of the company accounted for $400,000
Explanation:
Net income is the income or the amount of residual income from the earnings after deducting all the expense or cost from the sales.
The net income or loss of the company accounted for is computed as:
Net Income or Loss = Net Income - Research and Development cost
where
Net Income amounts to $3,400,000
Research and Development cost amounts to $3,000,000
So, putting the values above:
Net Income or loss = $3,400,000 - $3,000,000
Net Income = $400,000
A bank has an allowance for loan loss of $4.5m at the beginning of the year and $4.2m at the end of the year, non performing loans of $6.2m at the beginning of the year and $5.8m at the end of the year, and has net charge offs of $2.7m in bad loans. what was the bank’s provision for loan loss for the year?
Answer:
0.259
Explanation:
difference in loan loss allowance in the year= 4.5-4.2= 0.3m
difference in non performing loans in the year= 6.2-5.8= 0.4m
Provision for loan loss= (difference in loan loss allowance + difference in non performing loans)/ net charge offs
provision for loan loss= (0.3+0.4)/2.7=0.259
1. Why is it extremely important to read the fine print of your W-4 form?
Give some details
I
Answer:
The reason that makes the read of the W-4 extremely important is that:
It determines how much tax your employer will withhold from your check. Explanation:
The reason behind this answer is that in the first place the W-4 format is a required format of the tax return process. It allows you to understand the amount of money that your employer withholds so you can figure out how much money you can deduct and what will be your possible return if you read it well.
It is extremely important to read the fine print of your W-4 form as it enables you to have the full understanding and knowledge of what the document entails.
Fine prints is a smaller type words which contain important information that was excluded in a document .
This information may include the following:
•Limitation
•Disclosure
•Terms
•Policy
• Restriction etc
Inconclusion It is important to read the fine print of your W-4 form as it helps you to know and understand some important information of what the document entails before you enter into any contract agreement.
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Eddie is a factory worker who makes about $32,000 a year. Eddie’s husband, Dustin, works part time as a dental assistant and makes about $15,000. Their combined income is just enough to pay their mortgage and make ends meet. Eddie and Dustin are considered:
A) lower middle class.B) upper middle class.C) old middle class.D) working class.
Answer:
D). Working Class.
Explanation:
Working class citizens are said to earn from $15000 to $45000 per annum. Therefore Eddie and Dustin fall in this circle.
Social classes are hierarchical groupings of individuals that are usually based on wealth, educational attainment, occupation, income, or membership in a subculture or social network. Many Americans recognize a simple three tier model that includes the upper class, the middle class, and the lower or working class. Meanwhile, some scholars deny the very existence of discrete social classes in American society.
A personnel director at a large company studied the eating habits of employees by watching the movements of a selected group of employees at lunchtime. The purpose of the study was to determine the proportion of employees who buy lunch in the cafeteria, bring their own lunches, or go out to lunch. If the director selects 50 employees at random from throughout the company and categorizes their lunchtime practices by gender, she is:
Answer: blocking for gender
Explanation: Blocking refers to a experimental research procedure which involves splitting experimental variables into separate units. This speration is performed in other to avoid bias or effect this separately identified varibales may bring into our experiment if not tested separately. The blocks may be referred to as known categories upon which variables in an experiment may be divided such that treatment is applied to independently to the separate blocks or experimental unit. In the scenario above, the personnel director is blocking for gender by splitting the variables or participants based on gender.
Assume that you have a balance of $4000 on your credit card and that you make no more charges. If your APR is 23.9% and each month you make only the minimum payment of 5% of your balance, then when is the first time that the balance would be less than $100?
Answer:
The balance will be less than $100 after 44 months payment
Explanation:
In this question, we are asked to calculate the time at which the Balance on a credit card would be less than $100.
To calculate this, we proceed as follows;
The monthly Interest rate = 23.9%/12 = 1.99166667%
Balance after t months = Credit Card balance * [(1 + Monthly interest rate ) * (1- Minimum payment rate)]^t
The credit card balance is $4,000, and the minimum payment rate is 5%
We plug these values into the equation to get;
$4,000 * [(1+1.99166667%) * (1 - 5%)]^t
= $4000 *[1.0199166667 * 0.95]^t
= $4000 * (0.968920836)^t
Balance after t months < 100
$4,000 * (0.968920836)^t < 100
(0.968920836)^t < 0.025
t = 43.9 months = 44 months
Answer: The balance will be less than $100 after 44 months.
Explanation:
We are to calculate the time when the balance on a credit card would be less than $100.
We were given the following:
APR = 23.9%
Monthly Interest rate will therefore be:
23.9%/12 = 1.99% or 0.0199
Credit card balance = $4,000
Minimum payment rate = 5% or 0.05
The formula is given as:
Balance after t months = Credit Card balance x [(1 + Monthly interest rate ) x (1- Minimum payment rate)]^t
Therefore:
$4,000 x [(1+0.0199) x (1 - 0.05)]^t
= $4000 x [1.0199 x 0.95]^t
= $4000 x (0.97)^t
Balance after t months < 100
= $4,000 x (0.97)^t < 100
= (0.97)^t < 100/4000
= (0.97)^t < 0.025
t = 43.9 months
t is therefore approximately 44 months.
A narrow market focus is to a differentiation-based strategy as a __________________. technological innovation is to a cost-based strategy growth market is to a cost-based strategy growth market is to a differentiation-based strategy broadly-defined target market is to a cost leadership strategy
Answer: possible options:
A.growth market is to a differentiation-based strategy
B. broadly-defined target market is to a cost leadership strategy
C. growth market is to a cost-based strategy
D. technological innovation is to cost-based strategy
Answer is B
Explanation:
Companies that use a cost leadership strategy and those that use a differentiation strategy share one important characteristic: both groups try to be attractive to customers in general. These efforts to appeal to a broad range of consumers can be contrasted with strategies that involve targeting a relatively narrow niche of potential customers. These latter strategies are known as focus strategies (Porter, 1980).
Focused cost leadership is the first of two focus strategies. A focused cost leadership strategy requires competing based on price to target a NARROW MARKET. A firm that follows this strategy does not necessarily charge the lowest prices in the industry. Instead, it charges low prices relative to other firms that compete within the target market. For example, you might be able to buy milk cheaper by driving to a big-box grocery store in your local community or town, but the local corner store is the cheapest within walking distance. Redbox, a major DVD rental company, uses vending machines placed outside grocery stores and other retail outlets to rent DVDs of movies for $1. There are ways to view movies even cheaper, such as through the flat-fee streaming video subscriptions offered by Netflix. But among firms that rent actual DVDs, Redbox offers unparalleled levels of low price and high convenience.
The Walthers Company has a semi-annual coupon bond outstanding. An increase in the market rate of interest will have which one of the following effects on this bond?�?A.�increase the coupon rate?B.�decrease the coupon rate?C.�increase the market price?D.�decrease the market price?E.�increase the time period
Answer:
D. decrease the market price
Explanation:
An increase in the market rate of interest will decrease the market price of the bond.
Generally, in accounting an increase in market rate usually result in decrease in market price. The market rate is inversely proportional to market prices.
Determine which shipping alternative would be most economical to ship 80 boxes of parts when each box has a price of $200 and holding costs are 30 percent of price, given this shipping information: overnight, $300, two-day, $260, six-day, $180. (round your intermediate calculations to 2 decimal places.) overnight two-day six-day
The most economical shipping option to ship 80 boxes of parts is the six-day option, with a total cost of $14,400.
Explanation:To determine which shipping alternative would be most economical to ship 80 boxes of parts, we need to calculate the total cost for each option.
For the overnight option, the cost per box is $300. So, the total cost to ship 80 boxes overnight would be 80 x $300 = $24,000.
Similarly, for the two-day option, the cost per box is $260. So, the total cost to ship 80 boxes in two days would be 80 x $260 = $20,800.
Finally, for the six-day option, the cost per box is $180. So, the total cost to ship 80 boxes six-day would be 80 x $180 = $14,400.
Based on these calculations, the most economical shipping alternative would be the six-day option, with a total cost of $14,400.
Learn more about shipping alternatives here:https://brainly.com/question/32198907
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Any policy aimed at lowering the natural rate of unemployment must either ______ the rate of job separation or ______ the rate of job finding. Group of answer choices reduce; increase increase; reduce reduce; reduce increase; increase
Answer:
Reduce; Increase
Explanation:
Unemployment is a macroeconomic problem that affects individuals most directly and severely. The natural rate of unemployment is the average rate of unemployment in the economy. A policy that increases the job-finding rate will decrease the natural rate of unemployment. A policy that decreases the job separation rate will decrease the natural rate of unemployment.
Job separation is the rate at which an employee leaves the organization.
Delaney makes $7.85 per hour She worked 20 hours last week Delaney had payroll deductions for $32 for federal state and local taxes and Social Security what was the ladies take home pay
Answer:
$125
Explanation:
Take home pay is the amount of earning that a person receives after making all the adjustment and deductions. Taxes and other deduction are made in the gross pay to calculate the net pay or take home pay.
Gross pay = Numbers of hours x Hourly rate = 20 hours x $7.85 = $157 for the week
Net Pay / Take home pay = Gross pay - Tax deduction = $157 - $32 = $125
Answer:
$125
Explanation:
Given that
Delaney makes $7.85 per hour
Delaney works for 20 hours
Thus,
Gross pay = amount per hour × number of hours worked
= 7.85 × 20
= $ 157.
She earns $157 in a week.
However,
Take home salary/Net pay = Gross income - deductibles
Where
Deductibles in form of taxes = $32
Therefore,
Take home = 157 - 32
= $125
Note that, take home pay refers to the remaining amount of an individual's pay or income after deductions (taxes, benefits etc.)