Answer: c. The new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours
Explanation:
Upon review of the effectiveness of a strategic business decision using evidence-based analytics, business leaders may reverse course.
The factor that led to the reversal of the new scheduling system is that the new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours.
Answer:
The price of the product is $59
Explanation:
Contribution margin is the net of the selling price and variable cost per unit. Contribution margin ratio is the ratio of contribution per unit to selling price per unit. As given below
Contribution margin ratio = Contribution margin per unit / Selling price per unit
23% = $13.57 / Selling price per unit
Selling price per unit = $13.57 / 23% = $59
Answer:
Experience.
Explanation:
Marketing mix can be defined as the choices about product attributes, pricing, distribution, and communication strategy that a company blends and offer its targeted markets so as to produce a desired response.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
A service organization can be defined as an assembly of people who are saddled with the responsibility of providing customer-oriented services rather than just making profit.
In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Thus, Disney is marketing an experience because they comprises of both a tangible and an intangible quality.
The white light shows the location of the boat and is required on all motor powered boats
Red and green tell what direction the boat is facing
The chip manufacturer can maximize the monthly profit by using the objective function: z = 6X₁ + 7X₂ + 10 X₃
An objective function is a function that has the goal of maximizing or minimizing the model's value based on the relationship between the variables in the function.
The term "decision variables" refers to a group of variables that are responsible for regulating the objective function.
The decision variable for the quantity of the product 1, 2, 3 manufactured can be expressed as:
The objective function used in maximizing the profit is:
This is subjected to the constraint:
- 2X₁ + 3X₃ ≤ 120 (Tech A time and manufacturing limitation)
- 2.5X₁ + 3X₂ ≤ 120 (Tech B time and manufacturing limitation)
- 4X₂ ≤ 120 (Tech C time and manufacturing limitation)
- 3.5X₂ ≤ 120 (Tech D time and manufacturing limitation)
Learn more about objective function for maximizing profit here:
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