Answer:
true
Explanation:
Communication helps understanding people better removing misunderstanding and creating clarity of thoughts and expression.
Answer:
A) 200 units
Explanation:
mean daily demand = 20 calculators
standard deviation = 4 calculators
lead time = 9 days
z-critical value (for 95% in-stock probability) = 1.96
normal consumption during lead-time:
= mean demand × lead time
= 20 × 9
= 180 calculators
safety stock = z × SD × √L
= 1.96 × 4 × √9
= 1.96 × 4 × 3
= 23.52 calculators
reorder point = normal consumption + safety stock
= 180 + 23.52
= 203.52 calculators
Answer:
Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.
Using the midpoint method, the elasticity of Hilary’s labor supply between the wages of $50 and $65 per hour is approximately 2.37 , which means that Hilary’s supply of labor over this wage range is elastic.
Explanation:
Midpoint elasticity = (Change in labor supplied / Average labor supplied) / (Change in wage rate / Average wage rate)
= [(19 - 10) / (19 + 10) / 2] / [$(65 - 50) / $(65 + 50) / 2]
= [9 / (29 / 2)] / [15 / (115 / 2)]
= (9 / 14.5) / (15 / 57.5)
= 0.62/0.26
Midpoint elasticity = 2.37
Once elasticity is greater than 1, supply of labor is Elastic.
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