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Diano4ka-milaya [45]
3 years ago
8

Identify the kind of decision-making process that the management follows in the given scenario. Lilian is a fruit grower and dis

tributer. Lately, her produce has been lacking in the quality that the company is famous for. Lilian calls a meeting with her executive management staff. They have to make a decision on whether to improve the quality of the produce by enhancing the quality of the soil through artificial means, or rent new farms to grow their product on. Lilian and her management team are involved in decision-making.
Business
1 answer:
IRINA_888 [86]3 years ago
4 0

Basic and Routine decisions is the kind of decision-making process that the management follows in the given scenario.

<h3><u>Explanation:</u></h3>

Basic decision are taken when some crisis arises. These decisions require the formulation of new rules with different thinking process.

<u>Example:</u> Location of plant, plant diversification and selection in distribution of channels.

For an organization basic decisions are of strategic aspects and routine decisions are of tactical aspects. Since routine decisions are of repetitive nature and need small consideration based on the decision made. Lilian has to make decision to improve the quality of the product and the soil and also need to rent new farms.

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A humane society reports that 19% of all pet dogs were adopted from an animal shelter.Assuming the truth of this assertion, find
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Answer:

The probability of pet dogs adopted between 15% and 20% is 0.4096.

Explanation:

Let <em>X</em> = number of pet dogs adopted from an animal shelter.

The proportion of pet dogs adopted from an animal shelter is, <em>p</em> = 0.19.

The sample of pet dogs selected is of size, <em>n</em> = 80.

A Normal approximation to Binomial can be applied in this case since,

  • np = 80 × 0.19 = 15.2 > 10
  • n(1 - p) = 80 × (1 - 0.19) = 64.8 > 10

So the sample proportion (\hat p) of pet dogs adopted from an animal shelter follows a normal distribution.

Mean of \hat p is:

\mu_{\hat p}=p=0.19

Standard deviation of \hat p is:

\sigma_{\hat p}=\sqrt{\frac{p(1-p)}{n} }

Compute the probability of \hat p between 15% and 20% as follows:

P(0.15\leq \hat p\leq 0.20)=P(\frac{0.15-0.19}{0.044}\leq  \frac{\hat p-\mu_{\hat p}}{\sigma_{\hat p}}\leq \frac{0.20-0.19}{0.044}} )\\=P(-0.91

Thus, the probability of pet dogs adopted between 15% and 20% is 0.4096.

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How do firms in asia (in this case, in thailand overcome market failure?
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After an analysis of political currents in Central and South America, you conclude that future coffee prices will be lower than
11Alexandr11 [23.1K]

Answer:

a. Short futures

b. $37,500

Explanation:

Since the price of the future coffee would be lower than the future prices so it would reflect the short futures, not the long futures

And, the impact would be

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= 37,500 pounds × 10 × 0.10

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We simply multiply the coffee pounds, contract position and per pounds in cents so that the accurate value can come.

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