There are different types of prototype decisions. Cereal is an example of a consumer product, where many low cost comprehensive prototypes are built since the product has high market risk.
There are different kinds of Prototype Decision when looking at the technical risk compared to the prototype cost. They are:
- Low risk - low cost (printed stuff)
: Here, there is no need for comprehensive prototypes.
- Low risk - high cost (ships, buildings)
: Here, there is no way one can afford comprehensive prototype.
- High risk - low cost (software)
: Here, there a a lot of comprehensive prototypes.
- High risk - high cost (airplanes, satellites)
: This often make use of analytical models a lot, have a well throughout planned of comprehensive prototypes
Prototyping is simply known to be the estimation or approximation of the product with its one or more areas of interest. It has 2 kinds which are Physical prototypes vs. analytical prototypes
, Comprehensive (with all the attributes of a product) vs. focused.
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Answer: a) $66,388.86
the total sum Earl will receive when he withdraws the money in his 65th birthday is $66,388.86
Explanation:
Given that;
Annuity = $150
r = 10%
Earl is 25years now
Earl plans to withdraw the money when he is 65
which mean Period N = ( 65 - 25 ) = 40
To find the future value, we use use the express
Future value = annuity × (((1+r)^n)-1)/r)
we substitute our values
Future Value = 150 × (((1 + 10/100)^40)-1)/10/100)
= 150 × (((1.10)^40)-1) / 0.01)
150 × ((45.2592 - 1)/0.1)
150 × 442.5924
Future Value = $66,388.86
therefore the total sum Earl will receive when he withdraws the money in his 65th birthday is $66,388.86
The answer is "trade deficit would widen in that country".
A fixed exchange rate regime forces financial discipline on
nations and abridges price inflation. For instance, if a nation expands its
cash supply by printing more money, the expansion in cash supply would prompt price
inflation. Given fixed exchange rates, inflation would make the nation's
merchandise noncompetitive in world markets, while the costs of imports would
turn out to be more appealing in that nation. The outcome would be an
augmenting exchange shortage in the nation, with the nation bringing in more
than it sends out.
Answer:
Answer is the one which produces values which compare well with actual values based on a standard measure of error.
Explanation:
Exponential smoothing is one means of preparing short-term sales forecasts on a routine basis. To use exponential smoothing, however, one must decide the proper values for the smoothing constants in the forecasting model. One method for selecting the smoothing constants involves conducting a grid search to evaluate a wide range of possible values.
Exponential smoothing forecasting methods use constants that assign weights to current demand and previous forecasts to arrive at new forecasts. Their values influence the responsiveness of forecasts to actual demand and hence influence forecast error. Considerable effort has focused on finding the appropriate values to use.
One approach is to use smoothing constants that minimize some function of forecast error. Thus, in order to select the right constants for forecasting, different values are tried out on past time series, and the ones that minimize an error function like Mean Absolute Deviation (MAD) or Mean Squared Error (MSE) are the ones used for forecasting
Answer:
Even if the material costs represent below 50% of total manufacturing costs, vendor selection and material acquisition should be extremely important for a company not only because of the costs of the inputs but also to control their quality.
It is very difficult to produce something if you don't have the correct materials; the correct quantity, the right quality and delivered on time. If any of the three previous characteristics fails, you will face serious problems.
