The answer to the given blank above is SELF-FULFILLING PROPHECY. From the term itself, self-fulfilling prophecy refers is a kind of prediction made by someone which most likely becomes true, may it be directly or indirectly. Usually, this is a result of both belief and behavior. In the given scenario above, the waiter, serving poorly dressed customers, predicts that he is going to be tipped low and so he gives them bad service. As a result, he did really get a smaller tip, just as he expects or believes.
Answer:
Correct answer is C i.e 25%
Explanation:
Arrival rate = λ = 60 / hour
Service Rate = μ = (60 * 60) / 45 = 80 / hour
Probability of no customers in the system = Po = 1 - λ/μ = 1 - 60/80 = 0.25 or 25%
Answer: Determination of minimum cash balance required.
Explanation: In the give case, Jane and Joan have different opinions regarding the amount of cash balance they require for effectively operating their business, thus, we can say they are determining the adequate amount of cash balance required.
In this step, the operation in the past and the expected revenues in the future are taken into consideration for the budget making process.
Answer:
Problem recognition: Recognizes the need for a service or product
Information search: Gathers information
Alternatives evaluation: Weighs choices against comparable alternatives
Purchase decision: Makes actual purchase
Post-purchase evaluation: Reflects on the purchase they made
Explanation:
there are 5 steps in the consumer decision making process.
Answer:
Changes in technology can affect the demand for different products or the demand for related products. It can increase the market for a product by increasing the demand for a new product and making an older product obsolete
Explanation:
When a firm discovers a new technology that allows it to produce at a lower cost, the supply curve will shift to the right as well. ... A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.