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Elza [17]
3 years ago
11

2. At an oral auction for used car, half of all bidders have a value of $1,500 and half have a value of $1,900. What is the expe

cted winning bid if there are three bidders
Business
1 answer:
Romashka [77]3 years ago
7 0

Answer:  $1,700

Explanation:

The expected winning bid is the weighted average of the 2 different bids.

Half of the bids are for $1,500 so weight of $1,500 is 0.5.

Half of the bids are for $1,900 so weight of $1,900 is 0.5.

Expected Winning bid = (1,500 * 0.5) + ( 1,900 * 0.5)

= 750 + 950

= $1,700

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A lawn service company has the following production possibilities. With​ one, two,​ three, and four​ workers, the company can mo
Marianna [84]

Answer: Third

Explanation:

Diminishing returns to labor refers to the phenomenon where every additional worker leads to an increase in production at a decreasing rate.

Using the scenario described, when there was only one employee the company could mow 4 lawns a day. They added a 2nd worker and that figure went to 9 lawns a day which is an increase of FIVE.

When they added a 3rd worker, the figure again went up but only to 12 which is an increase of THREE only as opposed to the last increase of FIVE.

After the third worker therefore, there was an increase but at a smaller rate.

7 0
4 years ago
converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as:
Nikitich [7]

Converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as aggregate planning.

Aggregate planning is a method for developing a business by arranging a management to the production and demands. In this method, the quarterly and annual business plans are converted into broad output and labor requirements for the intermediate term. This intermediate term may last from 4 to 12 months.

In this period of time the company will hire new employees to make enough output to satisfy the demands and thereby maximizing the profit with a minimum cost.

Aggregate planning ensures the efficiency and production of a company. Usually it is done as a prior activity to obtain a continuous production facility.

Learn more about aggregate planning at brainly.com/question/18803972

#SPJ4

5 0
1 year ago
In the "Input Analysis" section of the spreadsheet model, calculate the correlations between the sales of each type of product a
rodikova [14]

Answer:

The correct formula will be :

=average(past event tab then col in that tab) use this for att, programs, food, and merch

=AVERAGE('Past Events'!C4:C103)

Explanation:

To calculate the correlation between the sales of each kind of product and event attendance, from the Input analysis part of the spreadsheet model.

According to the information provided, in the targeted cell, we will use formula

=Average(data cells)

and for other part of the question is to calculate sales. For this part we can simply use the sum formula, first, we will sum the sales for a single item in past events column than at the end of the past column.

Thus, the correct formula will be :

=average(past event tab then col in that tab) use this for att, programs, food, and merch

=AVERAGE('Past Events'!C4:C103)

7 0
3 years ago
Japan, with a high population density and a large number of urban centers that grew up before the automobile, has a retail syste
Hitman42 [59]

Answer:

Fragmented Retail system

Explanation:

A fragmented retail system can be defined as a market in which no firm can has or can exert any influence to move the market in a particular direction.

This simply means that a fragmented retail system is one in which no product or firm has a grip or major share in the market. This leaves the market to a lot of small and medium scaled businesses competing with larger companies.

From the question, it can be seen that there a lots of small stores that serves the neighborhood. This means that the small shops cater for the needs of people within its vicinity such that there isn't any need for visiting larger stores.

Cheers

3 0
3 years ago
Suppose you own a restaurant were does the revenue come from
son4ous [18]
Revenue per hour of labor
8 0
3 years ago
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