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1 year ago

Case 6.1 Demand for Gas Guzzlers

1 answer:

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Question 1.: From the standpoint of an automobile company, what sources of information in this article offer secondary data?

Answer: The

National Automobile Dealers Association surveyed consumers

visiting its Web site for information about car purchases, and it

learned they ranked price as most important, followed by make and

model, then performance. Fuel economy ranked last, with 3 percent

considering it most important and 11 percent considering it least

important.

Question 2: Suggest two or three other sources of data that might be of

interest to auto companies interested in forecasting demand.

Answer: Data from Automotive News,General Motors, and data

from the shoppers who visit Web sites such as www.kbb.com to look

up information.

Question 3: Online or at your library, look for information about recent

trends in SUV purchases. Report what you learned, and forecast whether SUV sales are likely to recover or continue

Answer: I don't know your library.

Explanation: This took me so long to do. Now my back hurts and my eyes are blurry. Hope this helps!

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What is the ability of an organization to tailor its products or services to the customer's specifications?

kap26 [50]

Answer:

Mass Customization

Explanation:

Mass Customization -

It is a manufacturing and marketing strategy ,

where huge range of services and products are altered or changed according to the likes and dislikes of the customers , is referred to as mass customization.

It is also known as built - to - order and made - to - order.

These type of method are used in order to increase the sale of the goods and service , by modifying the goods according to the customers satisfaction.

Hence , from the question,

The correct term is mass customization.

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3 years ago

Which of the following is an implicit cost in Jim's business venture?

lozanna [386]

Answer:

D) i and iii

Explanation:

Implicit cost refers to economic costs that are not directly attributed to the business but are nevertheless important in making informed decisions. In this case the opportunity costs are implicit cost. They are:

Salary forgone which should have been earned at another job, and
Interest lost from savings account.

3 0

3 years ago

Select all the choices that decision makers could use marginal analysis for to make effective decisions.

mylen [45]

<span>Adding a machine to the factory and producing another car would be the choices that decision makers could use marginal analysis to make effective decisions.</span>

7 0

2 years ago

Read 2 more answers

A coin sold at auction in 2017 for $1,965,500. The coin had a face value of $5 when it was issued in 1794 and had previously bee

aksik [14]

Answer:

0.0642 or 6.42%

Explanation:

The period 't' between the year when the coin was issued, 1794, and 1971 is:

$t=1971-1794 \\t=177\ years$

If the coin had a value of $5 and after a period of t=177 years it was worth $305,000, the annual tax rate by which the coin appreciated is determined by:

$305,000 = 5*(1+r)^{177}\\r=\sqrt[177]{61,000}-1\\r=0.0642=6.42\%$

The annual rate was 0.0642 or 6.42%.

4 0

3 years ago

MIT economist Jerry Housman has estimated the price elasticity of demand for Post Raisin Bran cereal to be -2.5 and the price el

Diano4ka-milaya [45]

Answer:

The demand for Post Raisin Brand cereal is: ELASTIC

the demand for all types of breakfast cereals is: INELASTIC

Explanation:

To calculate the price elasticity of demand (PED) we can use the following formula:

PED = % change in quantity / % change in price

If PED > 1, the demand is price elastic
If PED = 1, the demand is price unitary
If PED < 1, the demand is price inelastic

*The PED always results in a negative number, e.g. price deceases, quantity increases, but for practical reasons we convert the negative number into a positive (we use absolute values) when we are determining the elasticity.

5 0

3 years ago