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3 years ago

Which of the following statements are reasons why operations management is important?

Business

1 answer:

mafiozo [28]3 years ago

7 0

Answer: D. All of these are reasons why operations management is important.

Explanation: Operation management is concern with converting materials and labor efficiently into goods and services for profit maximization. It is the administration of business principles in creating the highest level of efficiency within an organization.

Efficient and productive operation drives the economic well being of nations, Operations management is responsible for much of the value created by organizations and a key source of competitive differentiation among firms, are reasons why operation management is important.

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An economy has two firms, Russell Farms and the Cider Mill. Russell Farms owns orchards. It sells some of its apples to the publ

noname [10]

Answer:

a. GDP will increase

b. No effect on GDP

c. GDP will increase

d. GDP will increase

e. GDP will rise

Explanation:

Gross domestic product is the total monetary value of all the finished goods produced in the country during a specific period. When a new house is constructed it will create value for the economy and GDP will rise but when an old house is resold again there is no addition in the monetary value so there will be no effect on GDP.

6 0

3 years ago

Metal Manufacturing has isolated four alternatives for meeting its need for increased production capacity. The following table s

gavmur [86]

Answer:

a. 42.5%, 34.4%, 34.21%, 30.63%

b. Option D

The question in proper order

Metal Manufacturing has isolated four alternatives for meeting its need for increased production capacity. The following table summarizes data gathered relative to each of these alternatives,

The table is inserted below

(Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.)

a. Calculate the coefficient of variation for each alternative.

b. If the firm wishes to minimize risk, which alternative do you recommend? Why?

Explanation:

Coefficient of Variation = Standard Deviation/Expected Return * 100%

Standard

Expected deviation Coefficient of

Alternative return of return variation

A 20% 8.5% 42.5%

B 25% 8.6% 34.4%

C 19% 6.6% 34.21%

D 16% 4.9% 30.63%

(b)

Coefficient of Variation, CV, denotes the risk per unit of return. This implies that a low CV means a low risk per unit of return. Hence, the firm can minimize risk by opting for option D which gives the lowest CV and therefore offers the lowest risk

5 0

3 years ago

Peppertree Company has two divisions, East and West. Division East manufactures a component that Division West uses. The variabl

Anika [276]

Answer:

$1.45

Explanation:

Data provided in the question

Variable cost per component = $1.45

Full cost = $1.91

Selling price per component = $4.95

By considering the above information, the lowest price that would be accepted for the component is equal to the variable cost per unit i.e $1.91 and plus the full cost includes both the variable and fixed cost plus the fixed cost would be recovered by normal sale also

So in this case we only considered the variable cost per component

3 0

3 years ago

Every society faces trade-offs because we live in a world of scarcity. Suppose a student-athlete has the opportunity to earn

MrRa [10]

Answer:

The opportunity cost of the student-athlete returning to college next year is $1,000,000

Explanation:

Opportunity costs is the benefit that the student-athlete misses out when choosing one alternative over another.

In this case, the opportunity costs is playing for a minor league baseball team ($1,000,000) because is the higher offer between the alternatives.

6 0

3 years ago

Why should someone invest their money?

olganol [36]

Make additional money

6 0

4 years ago

Read 2 more answers