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2 years ago

What industry cannot rely on estimation

Business

1 answer:

jeka942 years ago

7 0

There is no industry which can not relay on estimation, all industries needs estimation.

The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.

Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.

Learn more about estimation here

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Taking into account recent technological developments what technical advances do you think are possible in the next twenty years

9966 [12]

Answer:

1. Automation and robotics

2. Hyperloop and autonomous vehicles

3. Smart drones

4. Virtual reality learning

5. Space vacation (tourism)

Explanation:

1. Automation and robotics: This will continue to transform the manufacturing sector in various ways with use of Internet of Things (IoT), learning though data collection and analysis, there will be a general increase in robotic integration.

2. Hyperloop and autonomous vehicles: pneumatic tube that uses a series of linear induction motors and compressors to propel vehicles at super fast speeds. Hyperloop’s technology will be the future of long distance travel in the world. Also, autonomous vehicle technology will become a safer alternative to human driving.

3. Smart drones: The use of drones for delivering parcels, Medicine, Pizza, and all types of goods is receiving large investment from Google, Amazon, Walmart and so on. Drones will be the future of delivering items in future.

4. Virtual reality classrooms and meetings: This is a technological advancement that will provide an engaging and immersive experience in learning and other virtual meetups without leaving ones current environment.

5. Space vacation (tourism): This will give opportunity to the members of the public to buy tickets(return tickets) to travel to the space and probably stay for a given period. With the help of companies like Spacex, Orbital Technologies etc, space tourism is becoming a realistic target.

5 0

3 years ago

Q 4.35: McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekl

hjlf

Answer: Understatement, $30,900

Explanation:

There will be an UNDERSTATEMENT of McGinnis' net income for the most recent fiscal year of $30,900.

The Understatement arises because as of year end which is June 30th, McGinnis were not paid for their services that cost $40,900 and instead will only be paid on the 8th of the next month so it was not accounted for in the net income.

The reason the net income understatement is $30,900 and not $40,900 is because McGinnis will still have to account for the payment to it's employees. If in a five day week they earn $12,500, that would mean that they earn $2,500 a day (12,500/5). Seeing as June ended on a Thursday, that is a 4 day week which means $2,500*4= $10,000.

That $10,000 will reduce the net income by that amount.

The net effect is a $30,900 UNDERSTATEMENT.

4 0

3 years ago

When managers organize divisions according to the types of customer to whom they market their products, they are focusing on a p

mezya [45]

When managers organize divisions according to the types of customer to whom they market their products, they are focusing<span> on the product structure: market structure.
</span>The market structure is an organizational structure in which each kind of customer is served by a self-contained structure.

6 0

3 years ago

When Judy's income increased from $200 to $240 a week, she increased her demand for concert tickets by 20 percent and decrea

aleksley [76]

Answer:

The answer is YED for concert tickets = 20%/ 20% = 1

YED for bus rides = -20% / 20% = -1

Explanation:

income elasticity of demand (YED) = % change in Quantity demanded / % change in income

% change in income= (240-200) / 200 * 100= 20%

YED for concert tickets = 20%/ 20% = 1

YED for bus rides = -20% / 20% = -1

The income elasticity of demand for concert tickets and bus rides is unitary which means the rise in income is proportionate to the increase in the quantity demanded.

4 0

3 years ago

When firms price-discriminate, people with ________ price elasticity of demand will pay ________ prices relative to those purcha

kaheart [24]

When a firm uses price descrimination, people with an inelastic demand curve will pay higher prices for the item relative to those purchasing the product and have an elastic demand curve

5 0

3 years ago