Answer:
1. Medium range sales estimates
2. Long range sales estimates
Explanation:
At introduction, Chrysler requires medium range sales estimates and Long range sales estimates To determine future marketing requirements.
These estimates are economic forecasts they are indicators that are used to help organizations in preparing medium to long range forecasts.
The medium range estimates span from 3 months to 1 year.
The long range estimates is for 3 years or more.
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Answer: Micro; Macro; Macro; Micro.
Explanation:
Economics is divided into two main segments which are microeconomics and macroeconomics. It should be noted that microeconomics deals with study of individuals and the firms while macroeconomics studies the while economy and looks at decisions that are made by governments and countries.
a. The effect of higher cigarette taxes on the quantity of cigarettes sold.
This is a microeconomic issue as one entity is being discussed which is cigarette and the issue is related to just one particular industry.
b. The effect of higher income taxes on the total amount of consumer spending.
This is a macroeconomic issue as taxes affects the whole economy. The whole nation is affected by this decision.
c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries.
This is a macroeconomic issue as it relates to different countries.
d. The reasons for low rates of profit in the airline industry.
This is a microeconomic issue as the issue affects just the airline industry.
Answer and Explanation:
The computation of the service level and the corresponding optimal stocking level is shown below:
Given that
Selling price = SP = $4.50
Cost price = CP = $3.00
So,
Salvage value = V = $1.50
Average daily demand (d) = 35 quarts
The standard deviation of daily demand = 4 quarts
based on the above information
Overage cost = (Co) is
= CP - V
= $3.00 - $1.50
= $1.50
Now
Underage cost= (Cu)
= SP - CP
= $4.50 - $3.00
= $1.50
So,
Service level is
= Cu ÷ (Co + Cu)
= 1.50 ÷ (1.50 + 1.50)
= 1.50 ÷ 3.00
= 0.50
= 50%
Now
At 50 % service level, the value of Z is 0
So,
Optimal stocking level is
= d + Z × standard deviation
= 35 + (0 × 4)
= 35 + 0
= 35 quarts