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Did not perform market research. This is a very important process before starting any business. Through market research you can get information about basic customer characteristics like preferences, age, income and then direct that information to find out where your potential customer is. Through this tool it is also possible to determine the viability of the business in a given region.
The value of a bank's assets is than its liabilities, the bank is said to be <u>solvent</u>
<h3>What is assets?</h3>
Any resource that a company, an organization, or an economic body owns or controls is considered an asset. It encompasses everything that has the potential to generate gains in the economy. When turned into money, assets indicate the worth of ownership.
<h3>What do you mean by solvent in accounting?</h3>
A company's capacity to fulfill its short-term and long-term financial commitments is known as its solvency. One indicator of a company's financial health is its level of solvency, which reveals whether it will be able to continue running its business into the near future. Ratio analysis is a tool investors can use to assess a company's solvency.
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Answer:
Economical thickness is 3.823 units
<u>Explanation:</u>
Insulation Annual Cost=2000+650t
Energy cost of heat loss=19000*(t) ^ (-0.5)
Total annual Cost=2000+650t+19000t ^ (-0.5)
<u>We need to find optimum value of thickness such that Total annual cost is minimum.</u> Therefore, we have dC/dt=0 and d^C/dt^2>0
Equation 1)
...........dC/dt=650-9500t^-1.5
Equation 2)
...........d^C/dt^2=4750t^-1.5
<u>For 1) </u>we have 650-9500t^(-1.5)=0
650/9500=t^-0.5
190/13=t^0.5
t=3.823 units
Hence, if we check for obtained value of "t" we have second order condition met then
d^2C/dt^2=4750*(3.823)^(-1.5)=635.4584551>0 by the way for any value of "t">0 we will suffice second order condition
Hence, economical thickness is 3.823 units