Answer:
Assuming that Samuel's retiring age is exactly 65 years old, and he starts collecting benefits 24 months before his full retirement age (exactly on his birthday number 63), then he will receive $867 per month (or 86.7% of his full benefits).
This calculation varies depending on the number of months, e.g.
months before full retirement age % of full retirement benefit
24 86.7%
23 87.2%
22 87.8%
21 88.3%
20 88.9%
19 89.4%
18 90.0%
17 90.6%
16 91.1%
15 91.7%
14 92.2%
13 92.8%
Answer: B. Backordering is not a strategy to manage service capacity.
Explanation: Service capacity is making sure that everyone involved in the business is producing the highest possible output of their services. All staff, departments and equipments should be pushing to maintain a high level of service capacity which is why hiring extra workers to make sure the job gets done is a strategy to manage service capacity. Pricing and promotion is also a strategy to manage service capacity so that the products/services are being used.
Answer:
The present value is the value today of a sum of money to be received in the future and in general is less than the future value.
Explanation:
The formula to compute the present value is shown below:
Future value = Present value × (1 + interest rate)^number of years
or Present value = Future value ÷ (1 + interest rate)^number of years
Let us take an example
Present value = $2,750
Rate = 5.25% ÷ 2 = 2.625%
Number of years = 1 year × 2 = 2 years
So, the future value
= $2,750 × (1 + 2.625%)^2
= $2,750 × 1.0531890625
= $2,896.27
It is done on semi annual basis. As we can see that the present value is less than the future value
Answer: false
Explanation:
Relationship marketing looks at using customer service and quality of service as benchmarks in the companies marketing activities. They are developed at looking at lifetime relationship with clients. They are not about low price, convenience, packaging, or similar inducements now, these are factors for gaining a new client.
Answer:
Avoids coordination expenses and delays.
Explanation:
Outsourcing can be defined as a type of business practice in which an organization assigns some of its activities to a third party. It can also be described as the practice in which a company hires another company to carry out various operations and tasks.
The importance of outsourcing include:
- It gives the organization access to more skilled individuals.
- it lowers the cost of production.
- it provides more flexibility to the employees.
- it enables the company to concentrate on more vital operations.
