Answer:
(1) If you get a promotion, what is the probability that you will also get a raise?
25% or 0.25
(2) Are getting a raise and being promoted independent events? Explain using probabilities.
yes, they are independent events because you a given one probability for getting a raise (40%) and another one for getting both a raise and a promotion (25%). If they were dependent events, the probability would be the same but they are not.
(3) Are these two events mutually exclusive? Explain using probabilities.
No they are not, again the probability of getting both a raise and a promotion is 25%.
The steps for finding the EOQ in a quantity discount model with variable H are:
- The optimal point is the quantity that yields the lowest cost
- Start with the lowest price
- If the minimum point is feasible
- Otherwise, compare total costs
What is the Economic Order Quantity(EOQ)?
The Economic Order Quantity is the ideal quantity of units a company should purchase to meet demand while minimizing inventory, costs such as holding costs, shortage costs, and order costs.
The economic order quantity formula assumes that demand, ordering and holding costs all remain constant.
Learn more about Economic Order Quantity here:
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Increases and supply does not change, when demand does not change and supply increases.
increase aggregate demand in order to escape a recession
Answer:
In the business world of the 21st century, it is nearly impossible to make critical marketing decisions without marketing research
Explanation:
With the growing technological advances and the growing online community and with a bigger and more diverse consumer market it will be almost nearly impossible to make any critical marketing decision without doing marketing research. With the growing demand for companies to know more about their consumers than ever before it would not benefit the companies to ignore their marketing research especially since most business survive on keeping their consumers happy and if you cannot target you different markets needs especially in today's diverse market than your company may not have a very long life.
And because of technological it is easier to analyse the consumer market and hence it is easier to make critical marketing decisions through marketing research as it is relatively more cheap and accurate when compared to the past.
