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3 years ago

Which of the following is true about specification ?

Business

1 answer:

IceJOKER [234]3 years ago

7 0

Answer:

b. Specifications should not be set arbitrarily. If you set a specification to loosely, the customer will be dissatisfied or upset with the performance of what you provided, even though it meets the specification.

Explanation:

Specification is defined as a set of requirements that needs to be met when producing a product. They give a value that seperate this product from others in performance.

Specification should be narrowly defined as this will help effectively meet the customer needs.

When specifications are too loosely defined the product might not meet customer needs.

For example if a developer requires a laptop with high processing power and the company decides to provide a more generic and lower processing power, the target customer will not be satisfied

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Legendary Motors has 7,000 defective autos on hand, which cost $12,880,000 to manufacture. Legendary can either sell these defec

timofeeve [1]

Answer:

Net advantage to repair the autos=$9,680,000

Explanation:

For Scrap:

Total sale by selling defective pieces as scrap=$8,000*7000

Total sale by selling defective pieces as scrap=$56,000,000

For Repair:

Total sales by selling defectives after repair=$12,000*7000

Total sales by selling defectives after repair=$84,000,000

Additional Cost on repair=$18,320,000

Remaining on selling defectives after repair=Total Sales after repairing-Additional Cost on repair

Remaining on selling defectives after repair=$65,680,000

Net Advantage:

Net advantage to repair the autos=Remaining on selling defectives after repair-Total sale by selling defective pieces as scrap

Net advantage to repair the autos=$65,680,000-$56,000,000

Net advantage to repair the autos=$9,680,000

3 0

3 years ago

According to the article by Brooks, successful entrepreneurs are most interested in

valentina_108 [34]

<span>personal fulfillment.</span>

8 0

4 years ago

Purple Feet Wine, Inc., receives an average of $20,000 in checks per day. The delay in clearing is typically three days. The cur

Kobotan [32]

Answer and Explanation:

Given:

Average amount of checks per day = $20,000

Delay days = 3 days

Interest rate = 0.017% = 0.00017

(A) Company's float = Average amount of checks per day × Delay days

Company's float = $20,000 × 3 days

Company's float = $60,000

(B) Most Purple Feet should be willing to pay today to eliminate its float entirely = Company's float × Interest rate

Most Purple Feet should be willing to pay today to eliminate its float entirely = $60,000 × 0.00017

Most Purple Feet should be willing to pay today to eliminate its float entirely = 10.2

3 0

4 years ago

Which of the following is an example of a market failure? A(n)

ahrayia [7]

The examples of market failure include:

market outcome in which consumer surplus is greater than producer surplus.
overproduction of goods and services.

<h3>What is market failure?</h3>

Market failure simply means an inefficient distribution of goods and services in the market.

In this case, market failure can occur when there's a market outcome in which consumer surplus is greater than producer surplus and when there's an overproduction of goods and services.

Learn more about market failure on:

brainly.com/question/368647

7 0

2 years ago

Suppose that a consumer who spends her budget on X and Y is initially at equilibrium. If the price of X increases, then the MU/P

Allisa [31]

Answer:

The ratio will fall.

Explanation:

This is a marginal utility question.

Consumers usually spent their income so as to maximize the utility driven from consumption of products.

In case of X and Y, a consumer will spend and allocate their income such that every last Dollar spent on each product yields the same utility so,

MU of X / P of X = MU of Y / P of Y

where MU = marginal utility and P = price.

So when the price of X rises, the ratio of MU/ P of X falls.

This will call for a reallocation of income to again be able to maximize the utility.

Hope that helps.

3 0

3 years ago