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s344n2d4d5 [400]
2 years ago
10

What is the ultimate purpose of the microfoundations program?

Business
1 answer:
vredina [299]2 years ago
4 0

Answer:

<em>Thus, rather than take structural and macro factors for granted, the goal of the microfoundations program is to explain their origins and evolution by looking at how they emerge as a result of individual choices and social interaction.</em>

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Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new v
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The total estimated CLV over a 5 year time horizon for someone who purchases a new vehicle at Eastern Motors is $3,410.40.

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Margin on selling vehicle = Average vehicle selling price * Margin = $23,700 * 11% = $2,607

Margin generated by 78% of people who return for service over 5 years = Number of times * Margin generated on each service = 10 * $103 = $1,030

Total estimated customer lifetime value (CLV) = Margin on selling vehicle + (Margin generated by 78% of people who return for service over 5 years * 78%) + (Margin generated by 226% of people who do not return for service over 5 years * 22%) = $2,607 + ($1,030 * 78%) + ($0 * 22%) = $3,410.40

Therefore, the total estimated CLV over a 5 year time horizon for someone who purchases a new vehicle at Eastern Motors is $3,410.40.

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3 years ago
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How can you change your name
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Alex, an American, was invited to a formal dinner by his French manager. He was not sure about the correct flatware to be used f
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Modeling someone's behavior means to observe their behavior and trying to imitate them.

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