<u>Solution and Explanation:</u>
The given data is as follows:
Error rate = 4%, per hour payment of inspector = $8, inspection of units = at the rate of 49 per hour, cost = $9 per unit
The problem can be solved as considering an opportunity to have an improvement of 4% in the quality.
In case inspector is not hired then it will cost .04 multiply 9= $.3.6 per unit and in case the inspector is hired it will cost $ 0.163 approx.(8 divided by 49).
Therefore, on comparison, it is recommended to hire the inspector.
Answer:
The answer to the question is customer- initiated touch point
Explanation:
In Hank Brigman's submission a touch point is the meeting point between customers and the organization in order to share vital information,negotiate business or zeal up a transaction.
When interaction is initiated by the customer, it is known as customer-initiated touch point.This is sometimes made possible by referrals from those customers who have made use of the product in the time past or due to a brand loyalty a product or service commands among its rival products or services.
Answer: Yes. AudioCable should buy a new equipment
Explanation:
Audiocables Inc. without new equipment:
Selling price: $1.40
Variable cost: $0.50
Fixed cost: $14,000
Sales: 30000 units
Total cost = Fixed cost + Variable cost
= $14000 + ($0.50 × 30000)
= $14000 + $15000
= $29000
Revenue = Sales × Selling price
= 30000 × $1.40
= $42000
Profit = Revenue - Total Cost
= $42000 - $29000
= $13000
Audiocables Inc. with new equipment:
Selling price: $1.40
Variable cost: $0.60
Fixed cost: $14,000 + $6000 = $20000
Sales: 50000 units
Total cost = Fixed cost + Variable cost
= $20000 + ($0.60 × 50000)
= $20000 + $30000
= $50000
Revenue = Sales × Selling price
= 50000 × $1.40
= $70000
Profit = Revenue - Total Cost
= $70000 - $50000
= $20000
From the calculations made, AudioCable buy a new equipment as profit generated is more.
The limitations of GDP. GDP is a useful indicator of a nation's economic performance, and it is the most commonly used measure of well-being. However, it has some important limitations, including: The exclusion of non-market transactions.
Industrialized former colonial states that dominate the world economic system: Core Countries
