1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
posledela
3 years ago
15

Talia, a project manager, estimates that a project will take a year to complete. She gets the estimation approved, although it i

ncreases the cost of the project. However, the project takes only 8 months to complete. In the context of self-knowledge, this scenario exemplifies the concept of_____________.
Business
1 answer:
Advocard [28]3 years ago
6 0

Answer:

The correct answer is: the planning fallacy.

Explanation:

The planning fallacy is the paradox referring to projecting the length it will take to accomplish an objective longer than what it could take. The mistaken assumption happens because individuals tend to compare the time it will take them to reach their objectives with the time it took others to achieve the same goals.

You might be interested in
An office manager has received a report from a consultant that includes a section on equipment replacement. The report indicates
goldenfox [79]

Answer:

a) 22.663%

b) 44%

c) 38.3%

Explanation:

An office manager has received a report from a consultant that includes a section on equipment replacement. The report indicates that scanners have a service life that is normally distributed with a mean of 41 months and a standard deviation of 4 months. On the basis of this information, determine the percentage of scanners that can be expected to fail in the following time periods:

We solve the above question using z score formula

z = (x-μ)/σ, where

x is the raw score

μ is the population mean = 41 months

σ is the population standard deviation = 4 months

a. Before 38 months of service

Before in z score score means less than 38 months

Hence,

z = 38 - 41/4

z = -0.75

Probability value from Z-Table:

P(x<38) = 0.22663

Converting to percentage = 0.22663 × 100

= 22.663%

b. Between 40 and 45 months of service

For x = 40 months

z = 40 - 41/4

z = -0.2

Probability value from Z-Table:

P(x = 40) = 0.40129

For x = 45

z = 45 - 41/4

z = 1

Probability value from Z-Table:

P(x = 45) = 0.84134

Between 40 and 45 months of service

= 0.84134 - 0.40129

= 0.44005

Converting to Percentage

= 0.44005 × 100

= 44.005%

= 44%

c. Within ± 2 months of the mean life

+ 2 months = 41 months + 2 months

= 43 months

- 2 months = 41 months - 2 months

= 39 months

For x = 43

z = 43 - 41 /4

z = 0.5

P-value from Z-Table:

P(x = 43) = 0.69146

For x = 39

z = 39 - 41/4

z = -2/4

z = -0.5

Probability value from Z-Table:

P(x = 39) = 0.30854

Within ± 2 months of the mean life

= 0.69146 - 0.30854

= 0.38292

= 38.3%

5 0
2 years ago
Use the following to answer questions 3-8: ​ Number of Workers Total Cost 0 1000 1 2200 2 3200 3 4000 4 4600 5 5000 6 5200 7 560
Firlakuza [10]

Answer:

Firm should hire the 4th worker as MR > MC.

Explanation:

Here, we are comparing the marginal cost of hiring 4th worker with the revenue generated by the 4th worker.

Marginal cost of hiring 4th worker:

= Total cost with 4 workers - Total cost with 3 workers

= $4,600 - $4,000

= $600

Total revenue generated by the 4th worker:

= Number of units produced by 4th worker × Price of each unit

= 50 × $15

= $750

Therefore, the firm should hire the 4th worker as the marginal revenue of 4th worker is greater than its marginal cost.

3 0
3 years ago
Jerry Rawls is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation
Savatey [412]

Answer: 0.785 days

Explanation:

Cash conversion cycle = Days inventory outstanding + Days sales outstanding – Days payable outstanding

Days inventory outstanding = 365/inventory turnover

= 365 / 50

= 7.3 days

Days sales outstanding = 365 / 8

= ‭45.625‬ days

Days payable outstanding = 365 / 7

= 52.14 days

Cash conversion cycle = 7.3 + 45.625 - 52.14

= 0.785 days

8 0
2 years ago
How can formal business documents help managers solve problems?
REY [17]

the correct answer is b

7 0
3 years ago
Read 2 more answers
Which is not an example of a behavior exhibited in a market economy?
Diano4ka-milaya [45]

Answer: market economy’s do not have government interference in businesses

Explanation:

5 0
3 years ago
Other questions:
  • The following labor standards have been established for a particular product: Standard labor-hours per unit of output 10 hours S
    8·1 answer
  • In order to craft effective business messages, beginning writers should follow the writing process closely. The first step in th
    15·1 answer
  • A sequence of values of some variable or composite of variables taken at successive, uninterrupted time periods is called a
    6·1 answer
  • A letter of intent is a type of mini-proposal. Which type of letter is often included at the beginning of a technical report
    15·1 answer
  • How to calculate APS?
    11·1 answer
  • Explain how can you avoid conflict by adjusting your own behavior?
    13·2 answers
  • Frederick is about to start a small manufacturing business soon. He has asked some of his friends, who are entrepreneurs, for ad
    13·2 answers
  • The Nicor family is planning to purchase a new home 7 years from now. If they have $240,000 now, how much will be available at t
    15·1 answer
  • Second-degree price discrimination: Multiple Choice results in transfer pricing. None of the answers are correct. is the practic
    9·1 answer
  • what do risk managers need to do to help their company successfully launch a new product ? (is the new product going to be a WIN
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!