Answer: A Contract was formed on February 5th
Explanation:
The contract was formed the very day that Bob mailed Ann his acceptance which was on the 5th of February.
Ann attempted to revoke the acceptance too late as she did it a day after he had emailed his acceptance even though she only received it on the 7th.
The date she received the acceptance is of no consequence because this falls under the Posting Rule. This rule in Common Law countries essentially states an agreement is made as soon as the letter is posted even if it never gets to it's destination.
Answer:
b) It clarifies the problem, the process and the customer of the process prior to data collection
Explanation:
DMAIC is the acronym representing the steps taken in the lean six sigma programme to increase efficiency.
The steps are define, measure, analyse, improve, and control.
Define is the first stage at which the need of the process client is determined. Process knowledge is obtained by interacting with the participants.
In this stage we ensure there is alignment between project focus and goals of organisational leadership.
Answer:
CC100 has $31.25 per hour
CC11O has $250 per hour
CC120 has $62.5 per hour
CC190 has $62.5 per hour
Explanation:
The IDC rate for each department would be the department IDC allocated divided by operating hours as shown below:
CC100
IDC rate=$25,000/800=$31.25 per hour
CC110
IDC rate=$50,000/200=$250 per hour
CC120
IDC rate=$75,000/1200=$62.5 per hour
CC190
IDC rate=$100,000/1600=$62.5 per hour
Judging from the IDC rates of the departments,department CCC110 seems to have the highest IDC rate per hour,which implies that each hour is charged with $250 against the CC100 where each operating hours is just $31.25.
The higher the IDC rate in a department the higher the cost of the output of that department since the cost has to be recovered from output.
Answer:
The service level would be of 0.75
Explanation:
According to the given data we have the following:
Mean demand, μ = 100
Standard deviation, σ = 20
Purchase price = $10
Selling price = $40
Salvage value = $0
Hence, Cost of under-ordering, Cu = $40 - $10 =$30
Cost of over-ordering, Co = $10 - $0 =$10
Therefore, the calculation of The optimal service level is calculated as follows:
Service level = Cu / (Cu + Co)
Service level = $30 / ($30 + $10)
Service level = $30 / $40
Service level = 0.75
The service level would be of 0.75
Answer:
<em>Sense-of-mission marketing</em>
Explanation:
Sense-of-Mission Marketing <em>is fundamentally a marketing principle that requires an institution to define its mission in such a way that it has a wider social context instead of simply being brand-oriented or product-related.</em>
This idea has resulted in a new generation of progressive businessmen who are heavily trained business executives with a sense of personal responsibility and enthusiasm for a greater purpose.