John Little is known for his queueing theory which is basically a theory on the probability of a customer waiting in the same line. This is applicable in every establishment that does first come, first serve basis. The probability of a person staying in line, and not changing to other lines, is expressed by the so-called Little law. It states that the average number of customers in the waiting line is equal to the average effective arrival ate multiplied with the average time that the customer spends in the waiting line. This law is very useful and valid because it does not count into factors the miscellaneous things like process distribution, service distribution, service order, etc.
Answer:
D. Product/service management
Explanation:
"Creating, developing, retaining, and obtaining...meets consumer needs" basically equals management
"Products and services"=product/service
Add them together is product/service management!
Let me know if you have any more questions :)
Answer:
a. Asarta Inc. could pay the fishermen $8,500 and keep polluting
Explanation:
The fishermen sell the fish for $8,000 a year at local market.
Due to pollution emitted by company into stream, their catch is dwindling and also their income.
The company benefits from usage of stream to the tune of $4,000 a year. In such scenario, if company compensates the fishermen for any amount between $8,000 and $40,000 then, in that case, optimal solution to the problem can be achieved in absence of any other transaction cost as per the Coase Theorem.
Therefore, The Asarta Inc. could pay the fishermen $8,500 and keep polluting.
Answer:
Equity
Explanation:
If the firm wishes to raise money by selling its shares of stock to the general public through the capital market, i. e. stock exchange market, it is called equity financing. It is often referred to as a primary stock market. As Extreme Entertainment, Inc. does not have much money to expand its business; it sells its share in the stock market to raise its capital.
Answer:
$245,500
Explanation:
Given that,
Net income under variable costing = $221,000
Beginning and ending inventories were 6,900 units and 11,800 units, respectively
Net operating income under absorption costing:
= Net operating income under variable costing + fixed manufacturing overhead cost deferred in inventory
= $221,000 + [(11,800 - 6,900) × $5.00]
= $221,000 + (4,900 kg × $5.00)
= $221,000 + $24,500
= $245,500