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Wewaii [24]
3 years ago
7

When researching your perspective business, it’s most important that you know your product and your

Business
1 answer:
professor190 [17]3 years ago
6 0

When researching your prospective business you should focus on your product and target customers.

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"Gathering information from potential customers in an effort to determine their preferences is an example of using statistics in
nadya68 [22]

Answer:

Marketing Research

Explanation:

Marketing Research

This is the process of investigating collecting , analyzing and interpreting informatiom about a market of a particular product or service to be rendered for sale in the market , and about the past, present and potential customers for the product or service; research into the characteristics, their spending habits, location and needs of your business's target market, the industry as a whole, and the competitors you face

Accurate information about your customers needs will ensure the sales of your product and service.

4 0
3 years ago
A manager reorders lubricant when the amount on hand reaches 422 pounds. Average daily usage is 45 pounds, which is normally dis
sdas [7]

Answer: The risk of stock out = 2.94%

Explanation:

Reorder point is calculated as: Lead time*demand per unit time=45*9=405

While the amount on-hand reaches 422 pounds, the manager was reordering lubricant.

During the lead time, Standard Deviation of Demand =Daily S.D*(Lead time)^0.5=3*(9^0.5)=9

Risk of Stock Out=(422-405)/9 S.D=1.89 S.D

From Normal distribution curve 1.89 S.D=0.0294=2.94%

Therefore, the risk of stock out=2.94%

8 0
3 years ago
Read 2 more answers
Chuong Ngo borrows $2700 from a bank that advertises a 7% simple interest rate and repays the loan in three equal monthly paymen
garik1379 [7]

The estimated Annual Percentage Rate is 10.5%

APR means Annual Percentage Rate.

Annual Percentage Rate refers to the interest rate one pays on a loan each year.

We will use the Annual Percentage Rate(APR) Formula to derive the estimate

APR = 2nr/(n+1) where the P = $2,700, R = 7% and N = 3

APR = 2*3*0.07 / (3+1)\\APR = 0.42 / 4\\APR = 0.105\\APR = 10.5%

In conclusion, the estimated Annual Percentage Rate is 10.5%

Learn more about Annual Percentage Rate here <em>brainly.com/question/9301830</em>

8 0
2 years ago
What is the marketing objective for the decline stage of the product life cycle?
Y_Kistochka [10]

<span>In the decline stage of the product the main objective of the marketing is reinforce the positive perception of the brand by the loyal costumers. In this stage, the product is not going to attract any new potential costumers; therefor the marketing efforts are <span>often focused to advertise the product to its loyal customer base, this decreases marketing costs while improving the overall perception of the product and ultimately the brand.</span></span>

3 0
3 years ago
What identifies data outside of a normal condition?
skelet666 [1.2K]
<span>An Exception Report identifies data outside of normal conditions. </span>
7 0
3 years ago
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