Answer:
The correct answer is binary variables.
Explanation:
A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:
1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.
2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.
Answer:
Review labor costs downwards
Explanation:
Janet and Omar should consider revising their budget for labor downwards. In the current state, labor costs are $1000, which is approximately 57 percent of all costs. As a rule of thumb, labor costs should be between 25 to 35 percent of total costs. This implies that Janet and Omar's labor costs are very high in relation to the other costs.
Janet and Omar should aim for a profit. Ideally, a 25 to 30 percent profit is a good target for such a business. For this to happen, they need to cut down labor to between $300 to a maximum of $400.
Answer:
beg8ner ine expert one explorer ine is types of it
Answer:
consumer culture
Explanation:
Consumer culture correlates social values, ethnic status and social activities with the consumption of goods and services.
The concept behind consumer culture is to link the eating and consuming habits with that of social lifestyle. Taking McDonald's as an example, it is pertinent for a global corporation to respect religious and social limitations of its consumers. As a result of this, we see different menu all over the world. The example is McDonald's does not offer beef burgers in India.
A price increase may discourage customers from buying ice cream, or may choose a free cup over a cone.
