Common between optimization using total value and optimization using marginal analysis is:
Both techniques require the conversion of all costs and benefits into a common unit of measurement.
What is the principle of optimization at the margin?
The Principle of Optimization at the Margin states that an optimal feasible alternative has the property that moving to it makes you better off and moving away from it makes you worse off.
Optimization using total value:
calculates the change in net benefits when switching from one. alternative to another.
optimization using marginal analysis:
calculates the net benefits of. different alternatives.
Total Value analysis :
has a wide range of applications. The analysis can be used to assess an organization's key impacts, or provide more detailed information such as an assessment of the life cycle impacts of a product.
marginal analysis:
is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity. Companies use marginal analysis as a decision-making tool to help them maximize their potential profits.
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Answer:
$ 142 375
Explanation:
Thinking process:
Let the composite rate be given by the formula:
where
A = amount after interest
= interest rate
t = time
n = number of times (per year)
Therefore, this gives:
The population is the 10,900 respondents to the American Time Use Survey.
Explanation & Solution:
Statistics indicate that a large number of findings with similar features are related to in the population.
A sample is a subset from which it has been extracted.
"The American Time Usage survey for 2015 provides details about how many minutes of sleep every evening are assigned to each of 10,900 survey respondents.
An SRS of 100 participants (a plain random sample) has x = 514.4 minutes on average.
The size of the U.S. Time Utilization Survey is 10,900.
Answer:
a. Leslie, who is independent and self-confident. She doesn’t need people to tell her what to do.
b. Malcolm, who loves to play. His last boss says that Malcolm was the "chief kid" in his last office.
c. Frankie, who has been in the toy business for 10 years and who knows what he’s doing, but who always likes testing a new idea.
Explanation:
In this scenario the CEO of a start-up toy manufacturer wants to create at least 10 wildly different toys in the next three years.
He will primarily need people that are creative and are inclined to work with new ideas.
The wrong choice will be someone who follows the rules and is stable. Such a staff will not contribute new ideas that will move the company to make profits.
Leslie is confident and does not need to be told what to do, so she will take initiative to do new things.
Malcolm loves to play and this will boost creative ideas.
Frankie likes testing new ideas and will be comfortable working creatively.
Answer:
External forces
Explanation:
Best buy is an electronics retailer that aspires to improve customer's lives through technology. They have over 175+ store locations.
However they have been facing challenges in the market with other playera like Circuit City, CompUSA and RadioShack not surviving.
The challenges faced by Best Buy is mostly as a result of external forces in the form of competition with Walmart and Amazon. Resulting in the loss of their share value.
Walmart and Amazon have been able to capture a large part of the electronics market.
Other problems like leadership scandals and inefficient processes also contributed to their problems.
