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Alex
2 years ago
6

Let's say you are ordering food for your wedding reception, and you sent out 150 invitations. Everyone RSVP'd, with120 people sa

ying they would attend. You know however that not everyone who RSVP'd will actually show up; there are always, always, always some no-shows (at least from the question-writers experience). Thus you expect to need 100 meals. But just to be safe, you plan to order 110 meals, estimating this is a 90% service level (accepting a 10% probability you'll run out). You discuss this with your fiance who is adamant about increasing your service level to 99%.
Required:
How many meals should you order for a 99% service level?
Business
1 answer:
sveticcg [70]2 years ago
6 0

The number of meals to order for a 99% service level is 121 meals.

<h3>What is the service level?</h3>

The service level is the percentage of services that can be provided to guests or customers on a given occasion or within a given period.

It can also describe the percentage of meals that a host estimates to serve her guests at a party.

<h3>Data and Calculations:</h3>

Number of invitations sent out = 150

Number of RSVPs received = 120

Expected number of meals to serve = 100

The safety level of meals to serve = 110

The estimated service level at 110 meals = 90%

The Fiancé's estimated service level to attain = 99%

The number of meals to order for a 99% service level is 121 meals (110/90% x 99%).

Thus, the meals that you should order for a 99% service level is 121 meals.

Learn more about estimating service levels at brainly.com/question/4312911

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Which of the following describes an inferior​ good? A. When consumer income​ increases, the demand for tea increases. B. When co
MakcuM [25]

Answer:

C. When consumer income​ increases, the demand for eggs decreases.

Explanation:

Inferior goods is the type of good which demand does not increase even though the initial buyer experience an increase in purchasing power.

The reason for this is because that consumer choose to<u> purchase another product that he/she couldn't afford</u> before having an increase in income.

This 'other' product tend to be more expensive and higher in quality compared to the previous one. This is why the word 'inferior' is attached to the previous product.

From the example above, the reason why the demand for the eggs does not increase is most likely happen because the consumer choose to purchase higher quality of food. (such as a more expensive meat)

6 0
3 years ago
Read 2 more answers
Toan Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at t
Lerok [7]

Answer:

$129,000

Explanation:

The computation of the unadjsuted cost of goods sold is shown below:

Before that we need to compute the total cost and cost per unit which are as follows

Total cost

= Beginning balance + Direct materials + Direct labor + Manufacturing overhead cost applied

= $66,700 + $494,500 + $158,700 + $269,100

= $989,000

And, Units completed is 23,000 units

So, the cost per unit is

= Total cost ÷ Number of units completed

= $989,000 ÷ 23,000 units

= $43

And, the number of units sold is 3,000 units

So, the cost of good sold unadjusted is

= Number of units sold × cost per unit

= 3,000 units × $43

= $129,000

5 0
3 years ago
Sue now has $490. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding?
Alina [70]

Answer:

c.$941.10

Explanation:

Calculation for How much would she have after 8 years

Using this formula

FV = PV(1+i)^n

FV represent future value

PV represent present value

i represent interest rate

n represent number of periods

Let plug in the formula

FV = 490(1 + .085)^8

FV= $941.10

Therefore How much would she have after 8 years will be $941.10

3 0
3 years ago
A project requires an initial investment of $10 million today. If the cost of capital exceeds the project IRR, then the project
xz_007 [3.2K]

Answer:

Negative NPV.

Explanation:

present value of cost exceeds present value of revenue that is been assumed in the investment plan of the said company/firm.

Net Present Value describes one of the discounted techniques of cash flow used in capital budget to determining the viability of a project or an investment. It is seen to have a huge difference between the present flow of the firms; which is cash inflows and the present value of cash outflows over a period of time. Experts has tagged its primary advantage to be that it is seen to considers the concept of the time value of money.

3 0
3 years ago
If nicotine in cigarettes is highly addictive, why would it make economic sense for producers of cigarettes to offer free sample
makkiz [27]
If the nicotine cigarettes are highly addictive and they were to offer the free samples to young adults then it will make the people be highly addictive in the nicotine cigarettes and this will cause the economy in the producers to have a less demand in elasticity. If it has a less elasticity, then it will cause a large price change, affecting the consumed quantity by the consumers.
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3 years ago
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