Range is the measure of variation that is very sensitive to extreme values. It is the difference between high and low values, while standard deviation is the standard measure of variation.The range rule of thumb roughly estimates the standard deviation of a data set as s=range/4 , where s stands for standard deviation and
<span>range = Maximum - Minimum</span>
Answer: Planning reduces creativity
Explanation:
Under Planning reduces creativity, all team menbers are instructed or directed to work within the frame given by the management to them, working outside the frame of what was issued would go against the directives of the organization. This type of limitation of planning limits creativity, because members won't be able to introduce ideas to advance the growth of the team.
Answer:
inelastic PED
Explanation:
Price elasticity of demand (PED) is the proportional change in quantity demanded of a good or service if the price changes by 1%. The PED is calculated by dividing the percentage change in quantity demanded by the negative percentage change in price.
PED = -2% / -10% = 0.2 inelastic
If PED > 1, elastic demand
If PED < 1, inelastic demand
If PED = 1, unitary demand
Answer:
False
Explanation:
The reputation can be permanently harmed when a conflict of interest is possible.
The question is incomplete. The complete question is :
A manufacturer of mountain bikes has the following marginal cost function:
where q is the quantity of bicycles produced.
When calculating the marginal revenue and marginal profit in this problem, use the approach given for the marginal cost and marginal revenue in the discussions in your textbook.
a) If the fixed cost in producing the bicycles is $2800, find the total cost to produce 30 bicycles?
b) If the bikes are sold for $200 each, what is the profit (or loss) on the first 30 bikes?
Solution :
Given :
a). Fixed cost, FC = $ 2800
Total cost to produce 30 bicycles is :
![$= 2800+700\left[\frac{\ln (0.7q+8)}{0.7}\right]^{30}_0$](https://tex.z-dn.net/?f=%24%3D%202800%2B700%5Cleft%5B%5Cfrac%7B%5Cln%20%280.7q%2B8%29%7D%7B0.7%7D%5Cright%5D%5E%7B30%7D_0%24)
![$=2800+1000[\ln ((0.7 \times 30)+8)- \ln 8 ]$](https://tex.z-dn.net/?f=%24%3D2800%2B1000%5B%5Cln%20%28%280.7%20%5Ctimes%2030%29%2B8%29-%20%5Cln%208%20%5D%24)
![$= 2800 +1000 [\ln 29 - \ln 8]$](https://tex.z-dn.net/?f=%24%3D%202800%20%2B1000%20%5B%5Cln%2029%20-%20%5Cln%208%5D%24)
= 2800 + 1287.85
= $ 4087.85
b). Total selling price = $ (200 x 30)
= $ 6000
Profit = 6000 - 4087.85
= $ 1912.15
