Answer:
The actual results for 175,000 units with a new budget for 175,000 units.
Explanation:
To be more useful, actual results should be compared with budgeted amounts of actual production.
The actual results for 175,000 units should be compare with a new budget for 175,000 units
Answer:
Control limits for x_bar are between 59.076 and 60.924
Control limits for R are between 0.669 and 5.331
Explanation:
Given data:
x_bar = 60 mph
n = 10
R = 3 mph
Step 1: Factors (see table attached)
At n = 10, factors for computing control charts limits are,
A2 = Mean factor = 0.308
D3 = Lower range = 0.223
D4 = Upper range = 1.777
Step 2: Control limits for x_bar
Lower Control limit:
LCL = x_bar - A2*R = 60 - (0.308)(3) = 60 - 0.924 = 59.076
Upper Control limit:
UCL = x-bar + A2*R = 60 + (0.308)(3) = 60 + 0.924 = 60.924
The control limits for x_bar are between 59.076 and 60.924
Step 3: Control limits for R
Lower Control limit:
LCL = D3*R = 0.223(3) = 0.669
Upper Control limit:
UCL = D4*R = 1.777(3) = 5.331
The control limits for R are between 0.669 and 5.331
Hope this helps!
Answer and Explanation:
core competency of an organization comprise it's multiple resource, capabilities and skills that gives it a competitive advantage in the market. It was originated in management theory by C. K. Prahalad and Gary Hamel.
For an organization to have core competencies in manufacturing and also research and development putting it's organizational structure and culture to use, it has to:
create a flexible and somewhat independent structure for it's research and development department such that innovation is easy. Control must be decentralized and the team must come first
For the manufacturing department, an organic and participative approach should be encouraged. This would allow inclusive management such that workers are included in decision making processes. Managers should also be given more independence while workers should increasingly be empowered
the organization should also take stringent measures in employing the right people for the research and development as well as the manufacturing department such that these individuals are qualified and possess the needed expertise for their areas. Staff should equally be empowered through constant education and new skill acquisitions and be allowed to impart this knowledge on other staff by encouraging transfers in global expansion.
Answer:
quantity discount
Explanation:
A quantity discount is a stimulus rendered to a buyer that brings about a decrease in cost per unit of goods or materials when purchased in greater numbers. A quantity discount is often rendered by sellers to attract customers to purchase in larger quantities.
The seller is able to sell off more goods or materials, and the buyer gets a more better pricing for them. At the consumer level, a quantity discount can appear as a BOGO (buy one, get one discount) or other incentives, such as buy two, get one free.
Answer:
D. More Units may be sold - but total revenue will be less than it would be at the higher price
Explanation:
Marginal Revenue (MR) represents the additional revenue that can be obtained if sales of a product are increased by one unit.
MR= is change in Total Revenue/Change in Total Output Quantity
In this situation as envisaged by the Marketing Manager, a price cut will lead to an increase in revenue based on more (marginal) units of the product sold at a lower price. The challenge, however, is that this increase in income will not be enough to offset the decrease in revenue that will result as a result of the price cut.
In other words, the organisation is better off selling fewer products or units at its current price than sell more (marginal units) at a reduced price.
