Answer:
Only 1 dock is required since its overall cost is lower than having two docks
Explanation:
Solution
Given that:
let us consider the data given for the warehouse:
the cost per day/driver truck = $300
Cost per day/Dock plus loading crew = $100
Arrival rate λ = 3 per day
Service rate μ = 5 per day
Now,
we compute the utilization of the ware house
Utilization =λ/μ
= 3/5
ρ = 0.6
Only 1 dock is required since its overall cost is lower than having two docks
Answer:
consumers are now willing to purchase more of this product at each possible price.
Explanation:
When the demand for a good or service increases, it means that consumers are buying more. In this case, according to the law of supply and demand, increasing demand will decrease inventories of good and will make it scarcer, increasing the price.
Answer:
APR, or annual percentage rate, is your interest rate stated as a yearly rate. An APR for a loan can include fees you may be charged, like origination fees. APR is important because it can give you a good idea of how much you'll pay to take out a loan.
Explanation:
The value of the account when the granddaughter reaches her 13th birthday will be $2720
Compound interest is interest that builds up over a set length of time on both principal and interest. The principal is also used to account for the interest that has accrued on a principal over time. Furthermore, the accumulated principal value is used to calculate interest for the subsequent period.
Principal amount invested = $1000
Rate of return = 8% per year
Time = 13 years
Using the formula we get the following:
A = P(1+r/100)^n
where A = amount
P = principal amount invested
r = rate of return
n = time in years
Substituting the values in the formula we get:
A = 1000(1+8/100)^13
= $2719.62 or $2720
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This is an example of market development growth.
<h3>
What is market development?</h3>
- Market segmentation for existing products is identified and developed as part of a growth plan.
- A development plan focuses on non-buying clients in the segments that are already targeted.
- Additionally, it aims to reach fresh markets of clients.
<h3>What is custom?</h3>
- A custom is a long-standing behavior of an individual or group (such as a daily routine) (such as a cultural practice).
- When used as an adjective, custom designates something created to specific requirements, especially something distinctive.
- Custom-made is a synonym for it.
<h3>What is market penetration?</h3>
- When a product or service is successfully sold in a particular market, this is referred to as market penetration.
- The sales volume of an existing good or service in relation to the overall target market for that good or service is used to measure it.
<h3>What is product development?</h3>
- New product development in business and engineering refers to the entire process of launching a brand-new product, updating an already-available product, or launching a product in a new market.
- Product design, along with many commercial factors, is a key component of NPD.
<h3>What is diversification?</h3>
- Diversification in finance refers to the process of allocating capital in a way that limits exposure to any one specific asset or risk.
- Investing in a variety of assets can help lower risk or volatility, which is a frequent step towards diversification.
Therefore, this is an example of market development growth.
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