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3 years ago

Once a customer has committed to a partnership, less work is needed to maintain the relationship.

1 answer:

4 0

The answer to the given statement above is false, it is because even if a person has entered a partnership, it does not mean less work and effort should be done to maintain the relationship because having no effort in maintaining this relationship could only cause the bond to diminish and destroy. It is best to have an equal amount of work done in order to maintain a relationship with the partner.

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Ohio Swiss Milk Products manufactures and distributes ice cream in Ohio, Kentucky, and West Virginia. The company wants to expan

LenaWriter [7]

Answer:

a. The regression equation required is Y = 915.18 – 0.2819X.

b. b-1. Correlation coefficient (r) = –0.9423

b-2. Coefficient of determination = r^2 = 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. The manufacturing cost per gallon is $823.56.

Explanation:

Note: See the attached excel file for the calculation of Mean of X and Y and other values.

a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons produced.

The regression can be written as follows:

Y = bo + b1X ………………… (1)

b1 = (Sum of (Y - Mean of Y) * (X - Mean of X)) / (Sum of (X - Mean of X)^2) = –34,273.08 / 121,585.14 = –0.2819

b0 = Mean of Y – (b1 * Mean of X) = 1,018.20 - (365.44 * 0.2819) = 915.18

Substituting b) and b1 values into equation (1), regression equation to forecast the cost per gallon as a function of the number of gallons produced can be written as follows:

Y = 915.18 – 0.2819X ……………………….. (2)

Equation (2) is the regression equation required.

b. What are the correlation coefficient and the coefficient of determination? Comment on your regression equation in light of these measures.

b-1. Correlation coefficient (r) can be calculated using the following formula:

r = (Sum of (Y - Mean of Y) * (X - Mean of X)) / ((Sum of (Y - Mean of Y)^2) * (Sum of (X - Mean of X)^2))^0.5 = –34,273.08 / (10,879.60 * 121,585.14)^0.5 = –0.9423

b-2. Coefficient of determination = r^2 = –0.94^2 = 0.8880, or 88.80%

b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.

c. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.

Since X and Y are in thousands, 325,000 gallons implies we have:

X = 325

Substitute X = 325 into equation (2), we have:

Y = 915.18 - (0.2819 * 325)

Expressing in full form, we have:

Y = $823

Therefore, the manufacturing cost per gallon is $823.56.

Download xlsx

3 0

3 years ago

The _____ depicts the degrees and kinds of involvement a consumer brings to the purchase decision for different products. It als

Inga [223]

Answer: Kim-Lord model

Explanation: Some purchases made by consumers require a high degree of involvement such as cars, mobile phones etc on both cognitive and affective levels. Others do not. This phenomenon is explained by the Kim-Lord grid model of cognitive response from highly effective advertisements. The model states that purchase related decisions of consumers are based on or is highly influenced by affective and cognitive factors and that all aspects of advertising should be focused on these areas.

8 0

3 years ago

Labor costs charged to manufacturing overhead represent ______ labor costs.

Zolol [24]

The indirect labour cost is shown when labour expenditures are applied to the manufacturing overhead account.

<h3>What are the types of overheads?</h3>

Overhead expenses include things like accounting fees, advertising, insurance, interest, legal charges, labor costs, rent, maintenance, supplies, taxes, phone bills, travel expenses, and utilities.

Business overheads may be divided into two categories:

administrative and
manufacturing.

Thus in the above statement, when labour costs are added to the manufacturing cost it gives rise to indirect cost

Learn more about Cost overheads:

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8 0

2 years ago

Terminating an employee for the use of illegal drugs is an example of a(n) _____ turnover. retentive external voluntary absentee

klasskru [66]

Answer:

involuntary

Explanation:

Involuntary turnover happens when an employee is dismissed from a position and asked to leave. In that respect, employees may be expelled for several reasons, usually for deficient performance and inadequate behavior. In contrast, voluntary turnover occurs when employees quit and the company wishes to keep them.

3 0

3 years ago

The role of the board of directors in an organization is to:

poizon [28]

Answer:

OPTION A

Explanation:

The primary function of an organization's board of directors is to control the actions of the upper management team to make sure that the interests of shareholders are safeguarded.

PRIMARY FUNCTION OF BOARD OF DIRECTORS

Assess the vision and mission of the company to direct its present activities and potential development and set the agenda.

Review and assess current and future possibilities, threats, and hazards in the internal setting and the company's current & future strengths, weaknesses, and hazards.

4 0

3 years ago