Answer:
Applied Management Science therefore ensures that decisions made by business managers are products of strategic thinking processes and are aimed at improving operations. In other words, it offers practical information in decision making that is an indicator to success in business.
Explantion :
Management on the other hand refers to the control of activities within the set guidelines and policies for the achievement of specific objectives. Science is the identification, observation, investigation, and explanation of theoretical phenomena. Applied Management Science therefore refers to the science of solving business problems. It assists business managers in making optimal, informed, and satisfactory decisions.
Business managers face complex and dynamic challenges that not only demand forethought, but also call for optimal and informed decisions making to provide solutions to business challenges on daily basis. This calls for developing complex scientific models capable of analyzing the situations and providing indicators that assist managers in decision-making.
Applied Management Science therefore ensures that decisions made by business managers are products of strategic thinking processes and are aimed at improving operations. In other words, it offers practical information in decision making that is an indicator to success in business.
The process of mainstream decision-making has not received mainstream attention because of the dynamic and evolving nature of business challenges. The development of a universally accepted decision making model becomes a big challenge because business decisions change and remain unique within the each business set-up and culture.
Despite the fact that business, education, and psychology communities embrace decision aides, the public may not adopt the application of these aides. This is because most decisions made by the public are personal and may not demand complex processes to determine their levels of accuracy.
Answer:
b $13,500
Explanation:
Assets are items that are used by a business organization for positive economic value .
Given that;
Accounts receivable = $800
Equipment = $10,000
Accounts payable = $4,200
Prepaid rent = $2,000
Supplies = $400
Bank loan = $1,600
Tools = $300
Total assets = Accounts receivable + Equipment + Prepaid rent + Supplies + Tools
Total assets = $800 + $10,000 + $2,000 + $400 + $300
Total assets = $13,500
Therefore, Bravo's total assets is $13,500.
Answer:
It would need 549 guests to break even.
Explanation:
The first step will be know the Contribution Margin:
Variable Cost
Food 120
Other 8
Total 128
Next we do the Contribution Margin, which represent how much cash each guest generates to pay the fixed cost
500- 128 = 372
Then we Calculate the total fixed cost we need to pay
Rental 150,000
Advertising 50,000
Entertainment 4,000
Total 204,000
Now we calculate the Break Even Point in units (for this case, in guests)
It would need 549 guests to break even.
Answer: b. Jordan values option B more than options A and C.
Explanation:
All options cost the same explicitly which means that Jordan's choice was made based on implicit/ opportunity cost factors.
These undisclosed factors led to Jordan valuing option B more than the other options which is why it was picked even thought they all cost the same. Had any other option being more valuable than B, it would have been picked but since B was picked, B was the most valuable.
Answer:
FV= $11,733.20
Explanation:
Giving the following information:
Annual deposit= $2,000
Number of periods= 5 years
Interest rate= 8% = 0.08
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {2,000*[(1.08^5) - 1]} / 0.08
FV= $11,733.20
