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3 years ago

The overall process of dealing with all aspects of acquiring, keeping, and growing customers is referred to as ________.

1 answer:

7 0

value proposition is a clear statement that. explains how your product solves customers' problems or improves their situation (relevancy), delivers specific benefits (quantifiedvalue), tells the ideal customer why they should buy from you and not from the competition (unique differentiation).

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Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins

Degger [83]

Answer:

12.55 days

Explanation:

Provided information

Number of employees 2

Average production time=1.8 days

Standard deviation=2.7 days

Inter-arrival time= 1 day

Coefficient of variation= 1 day

Standard deviation of inter-arrival time= 1 day

The coefficient of variations

Inter-arrival coefficient of variation

$C_{vi}=\frac {\sigma}{T}$ where $\sigma$ is standard deviation of inter-arrival time, T is inter-arrival time and $C_v$ is coefficient of variation of inter-arrival time

$C_{vi}=\frac {1 day}{1 day}=1$

Production time coefficient of variation

$C_{vp}=\frac {2.7}{1.8}=1.5$

Total utilization time

$U=\frac {T}{n*T_i}$ where T is the time of production, n is number of employees, U is utilization, $T_i$ is inter-arrival time

$U=\frac {1.8}{2*1}=0.9$

Therefore, utilization time by 2 employees is 0.9

Expected average waiting time

$T_e=(\frac {T}{n*T_i})*0.5(C_{vi}^{2}+C_{vp}^{2})*(\frac{U^{\sqrt{2(n+1)}-1}}{1-U})$

Where $T_e$ is expected average waiting time and the other symbols as already defined

Substituting 1.5 for $C_{vp}$ , 1 for $C_{vi}$ , 0.9 for U, 2 for n, 1 for $T_i$ and 1.8 for T

$T_e=(\frac {1.8}{2*1})*0.5(1^{2}+1.5^{2})*(\frac{0.9^{\sqrt{2(2+1)}-1}}{1-0.9})$

$T_e=0.9*1.625*8.583709=12.55367 days$ and rounding off to 2 decimal places we obtain 12.55 days

Therefore, expected duration between order received and beginning of production is approximately 12.55 days

7 0

3 years ago

Which of the following functions of money enables society to gain the benefits of geographic and labor specialization? store of

grandymaker [24]

Answer:

The correct answer is: medium of exchange.

Explanation:

The medium of exchange function of money that helps the society in gaining the benefits of geographic and labor specialization.

The medium of exchange function means that money is an asset that is widely accepted as a medium of exchange in the transactions involving the exchange of goods and services.

The medium of exchange function of money eliminates the need for double coincidence of wants. Thus helps in labor and geographic specialization.

4 0

3 years ago

Assume that banks hold no excess reserves and that all currency is deposited into the banking system. If the required reserve ra

GrogVix [38]

Answer:

2.75 million

Explanation:

Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank

Required reserves = reserve requirement x deposits

Increase in value of money supply as a result of the purchase is determined by the money multiplier

Money multiplier = 1 / reserve requirement

1/0.05 = 20

increase in money supply = amount of open market purchase / reserve requirement

55 / 20 = 2.75 million

3 0

3 years ago

The officer responsible for managing the firm's cash flows is the

Wewaii [24]

The officer responsible for managing the firm's cash flows is the treasurer.

8 0

3 years ago

The Assembly Department started the month with 83,000 units in its beginning work in process inventory. An additional 334,000 un

Zolol [24]

Answer:

383,000

Explanation:

Calculation to determine How many units were transferred to the next processing department during the month

Work in process, beginning 83,000

Add Units started into production during the month 334,000

Less Work in process, ending (34,000)

Units completed and transferred out during the month 383,000

(+83,000+334,000-34,000)

Therefore How many units were transferred to the next processing department during the month is 383,000

5 0

3 years ago