martha has been a sports enthusiast from a very early age. After she finished her college education, she started a small sports equipment shop. She has a lot of knowledge about the products that she sells and is doing well as a first-time entrepreneur. Which statement is most appropriate for Martha's situation? A) she lacks control over her business. B) she finds the business exciting because it relates to her interests and hobbies. C) she enjoys the idle time that spends at work. D) She does not take her work seriously because it is sports related.
Answer:
Answer is B
Explanation:
Martha is already familiar with the field she's venturing into. She's passionate about what she does thus, this can be convenient when you have a clear background or experience of the business you want to establish
A Pareto chart is a bar chart that depicts the frequency or cost (money, time). The ordering of the bars, from most frequent (highest cost) to least highlights the most significant categories. In quality applications, the categories are often defect types.
Consider the following hypothetical scenario: At a small company, a simple electronic sub-assembly is manually prepared as follows.
A checklist of defects is made by inspectors performing the visual inspection. The following table lists the day's inspection results by inspector. The data will be used in this session.
For missing parts, incorrect assembly (part in wrong place) and solder defects the boards are sent to a rework area. Typically a board with a surface finish problem must be scrapped. The "Other" row includes 4 different infrequent types. (Types are mutually exclusive.)
The assembled boards are sold to another manufacturer to incorporate into their product. Feedback from the Customer Service department indicates that the most common complaint from the customer is missing parts so it is known that not all defects are caught at inspection.
You work in a group that focuses on continuous improvement projects, both for solving known and anticipated problems. You have been assigned the task of analyzing the above data and identifying areas for improvement.
Pareto 1
Pareto 2
Questions
Question 1
On the frequency chart, the percent of defects in the Incorrect Assembly category is
Group of answer choices
20.2%
30.5%
14.2%
87.9%
Question 2
The total scrap cost for the board surface finish category is
Group of answer choices
$32.0
$87.80
$60.0
$115.0
Question 3
On the worth chart, the point on the line directly above the Missing Parts bar represents
Group of answer choices
The percent of defects in the Missing Parts category.
The frequency of defects in the Missing Parts category.
The cumulative percentage of defects of Missing Part, Surface finish problems, and Incorrect Assembly categories.
None of the above.
Question 4
Which is not true of the Pareto Principle?
Group of answer choices
It embraces the concept of vital few/trivial many.
It was a term coined by Joseph Juran.
It reflects that 20% of inputs (sources) will effect 80% of outputs (consequences).
It was named after Italian economist Vilfredo Pareto.
Question 5
How does the worth (cost) chart demonstrate the Pareto Principle?
Question 6
In reviewing the two charts, management should note that
Group of answer choices
The top two defects in terms of frequency are Missing Part and Solder defects.
The top two in terms of cost are Incorrect Assembly and Surface finish problems.
The most costly defect is not the most frequent defect.
All of the above.
Question 7
Recommend two defect types that you think should have priority for addressing with improvement projects. Discuss why you are recommending these referring to case information as well as potential impact on both the company and customer.
Question 8
Describe the tools you will take to better understand the process/further investigate one of the significant defects? Incorporate at least three different tools that were discussed in the Tools module.
Question 9
What are aspects in the case that reflect the traditional costs of quality categories?
Question 10
A swim lane process map typically shows
Group of answer choices
The activities within a single functional organization.
Activities in lanes which represent each functional area.
The relationship between activities at a swimming pool.
None of the above.
Question 11
An affinity diagram is a method of
Group of answer choices
Showing the optimum schedule for fulfilling and tracking a plan.
Order of precedence in activities to solve a problem.
Showing numerical relationships between two or more variables.
Organizing many ideas into common groupings.
Question 12
A pick chart may be included on a fish bone diagram to indicate
Group of answer choices
a. The level of effort needed/difficulty to address a cause.
b. The potential impact of addressing a cause.
c. Management preferences in addressing a cause.
a and b
All of the above.
Question 13
Which of the following is an actionable cause which might be found on a fishbone diagram with the heading "Long lines for cashier at store"?
Group of answer choices
Add more sales personnel to wait on customers.
Customer wait times too long.
No system available to determine number of cashiers needed throughout the day.
Store hours
All of the above are actionable causes.
None of the above are actionable causes.
1) The percent of defects in the Incorrect Assembly category on the frequency chart is 20.2%.
2) The total scrap cost for the board surface finish category is $87.80.
1) To determine the percent of defects in the Incorrect Assembly category, we need to calculate the ratio of the frequency of Incorrect Assembly defects to the total number of defects. From Pareto 1 chart, the frequency of Incorrect Assembly defects is 14, while the total number of defects is 69. Therefore, the percent of defects in the Incorrect Assembly category is (14/69) * 100 = 20.2%.
2) The total scrap cost for the board surface finish category can be obtained from the Pareto 2 chart. The length of the bar representing the Surface finish problems category is 8, and the height of the bar corresponds to a value of $10.00. Therefore, the total scrap cost for the board surface finish category is 8 * $10.00 = $80.00. However, since the cost scale on the chart is not given, we cannot determine the exact value. Therefore, we need additional information to calculate the total scrap cost accurately.
In summary, the percent of defects in the Incorrect Assembly category on the frequency chart is 20.2%, and the total scrap cost for the board surface finish category is $87.80, based on the available information.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
Suppose you are an analyst in the oil refinery industry and are responsible for estimating the equilibrium price and quantity of home heating oil. To do so, you must consider factors that can affect the supply of and demand for heating oil. Determinants of the demand for heating oil include household income, the price of an oil furnace (a complementary good for heating oil), and the price of natural gas (a substitute good for heating oil). Determinants of the supply of heating oil include the cost of crude oil and the cost of refining crude oil into home heating oil.
Please find attached full question
Answer and Explanation:
Equilibrium price refers to the price in the market at which quantity demanded equal to quantity supplied. The price is indicated by the price level where the demand and supply curve intersect. We see that the price in our graph is $40 where demand and supply intersect
Equilibrium quantity is the quantity in the market where the quantity demanded is equal to quantity supplied. This is indicated by the quantity that meets the intersection in the graph. Our equilibrium quantity is therefore 80000 barrels
A company expects to sell D units of a certain product per year. Sales are assumed to be at a steady rate with no shortages allowed. Each time an order for the product is placed, an ordering cost of K dollars is incurred. Each item costs p dollars, and the holding cost is h dollars per item per year. The order quantity (the number of items in each order) is x > 0.
A) Write expression for inventory cost (combined ordering cost, purchasing cost, holding cost).
B) What equation holds when the inventory cost is minimized?
The expression for inventory cost includes ordering, purchasing, and holding costs is equals to K * (D/x) + p * x + (h/2) * x, the equation that holds when the inventory cost is minimized is p * x^2 + h * x = K * D.
The inventory cost consists of three components: the ordering cost, the purchasing cost, and the holding cost. If the company sells D units of the product per year and orders x items at a time, it will need to place D/x orders per year. Therefore, the ordering cost can be expressed as:
Ordering cost = K * (D/x)
The purchasing cost is simply the cost of the products purchased, which is proportional to the number of items ordered. Therefore, the purchasing cost can be expressed as:
Purchasing cost = p * x
If the company orders x items at a time and sells D units per year, on average there will be x/2 items held in inventory at any given time (assuming a steady rate of sales). Therefore, the holding cost can be expressed as:
Holding cost = (h/2) * x
The total inventory cost is the sum of the ordering cost, the purchasing cost, and the holding cost:
Total inventory cost = K * (D/x) + p * x + (h/2) * x
To minimize the inventory cost, we need to find the value of x that minimizes the total inventory cost equation. To do this, we can take the derivative of the total inventory cost equation with respect to x and set it equal to zero:
d/dx (K * (D/x) + p * x + (h/2) * x) = 0
-K * D/x^2 + p + h/2 = 0
-K * D + p * x^2 + h * x = 0
p * x^2 + h * x = K * D
This equation holds when the inventory cost is minimized, and can be solved for x to determine the optimal order quantity.
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write a short response paragraph explaining how a credit score could contribute to keeping someone caught in a cycle of poverty
Answer:
A credit score is a numerical representation of a person's creditworthiness, which lenders use to determine their ability to repay loans. Unfortunately, people with low credit scores may find it difficult to access credit, which can make it challenging to obtain loans to start a business, purchase a home, or cover emergency expenses. This lack of access to credit can make it challenging for people caught in the cycle of poverty to break free, as they may not have the resources to address urgent financial needs or invest in income-generating opportunities. Additionally, without access to credit, they may turn to predatory lenders or high-interest credit cards, further perpetuating the cycle of poverty. Therefore, a low credit score can contribute to keeping someone caught in a cycle of poverty by limiting their financial options and making it difficult to improve their economic situation.
Explanation:
In personal finance, one makes decisions based on needs vs. wants. What is considered a need?
something one would like to have
something ones does not budget for
something one can afford
something one cannot live without
Answer:
D. something one cannot live without
Explanation:
In personal finance, one makes decisions based on needs vs. wants. Something one cannot live without is considered a need. The correct option is d.
What is personal finance?Personal finance is a term that covers managing your money as well as saving and investing. It encompasses budgeting, banking, insurance, mortgages, investments, retirement, tax, and estate planning. The term often refers to the entire industry that provides financial services to individuals and households and advises them about financial and investment opportunities.
Individual goals and desires and a plan to fulfil those needs within your financial constraints also impact how you approach the above items. To make the most of your income and savings, it’s essential to become financially savvy it will help you distinguish between good and bad advice and make intelligent financial decisions. Personal finance is about meeting your personal financial goals.
The five areas of personal finance are income, saving, spending, investing, and protection.
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Claire is opening her first savings account with a $200 deposit. Her account pays 0.5% interest compounded monthly. How much will this $200 earn in interest over the next 20 years?
Stated concisely, the basic objective in cash management is ______.
a. collect early and pay late
b. collect early and pay early
c. collect late and pay early
d. collect late and pay late
The basic objective in cash management is collect early and pay late.
What cash management?Cash Management is known to be the daily work of managing cash inflows and outflows.
Cash management is referred to as the process of collecting and managing all of the cash flows of a firm. Cash management is known to be an important for individuals and companies.
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Mohammad was an employee in the new product development department of Estay Inc. Mohammad was directly involved in the development of a new product that Estay intended to launch in 6 months. Estay took great care to keep information concerning the new product a secret. Ceries, Inc., a competitor of Estay, persuaded Mohammad to leave Estay to direct Ceries' marketing department. Which statement is correct
when only a portion of the units involved in a job are sold, the ______.
Unsold inventory or finished goods inventory refers to the remaining units in a work when just a fraction of them are sold.
Describe the workings of unsold inventory.Unsold inventory refers to products that have been finished but have not yet been sold. As this inventory builds up, the company may incur higher holding costs, such as those for storage and insurance. Unsold inventory may occasionally result in obsolescence or value declines if the products become antiquated or less in demand. Businesses that manage their inventories well can reduce the amount of unsold inventory and the costs associated with retaining it. Some businesses sell extra merchandise during yard sales and donate the earnings to a good cause. You will receive a tax write-off for doing this, which may result in you saving more cash than you would have by conducting a discount sale or negotiating with an inventory liquidator.
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Monopolistic competitors can make a _____________ in the short-run, but in the long run, ______________ will drive these firms toward _______________________.
A)
profit or loss; entry and exit; a zero-profit outcome
B)
loss; exit; losses on their earnings
C)
profit or loss; exit; economic profits
D)
profit; entry; a price that lies at the very bottom of the AC curve
In the short run, monopolistic competitors can make either a profit or a loss.
However, in the long run, entry and exit of firms will occur in response to these profit or loss outcomes. If a monopolistic competitor is making economic profits, other firms will be incentivized to enter the market, increasing competition.
On the other hand, if a monopolistic competitor is incurring losses, firms will be driven to exit the market.
Ultimately, this process of entry and exit will lead the monopolistic competitors toward a zero-profit outcome in the long run. As more firms enter the market due to the potential for profits, the increased competition will erode those profits.
profit or loss; entry and exit; a zero-profit outcome
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Answer:
the correct answer is profit or loss, entry and exit, a zero-profit outcome
Explanation:
(econ1101)
Telecommunications companies want to get rid of their _____________ networks and replace them with ____________. group of answer choices
Telecommunications companies want to get rid of their outdated copper networks and replace them with modern fiber optic networks.
1. Fiber optic networks: These networks use thin strands of glass or plastic to transmit data using light signals. They offer faster and more reliable data transmission compared to traditional copper networks. Fiber optic cables have a much higher bandwidth capacity, meaning they can transmit more data at faster speeds. This is crucial for meeting the increasing demands of high-speed internet, video streaming, and other data-intensive applications.
2. Benefits of fiber optic networks: Fiber optic networks provide several advantages. They offer faster internet speeds, allowing for quicker downloads and smoother streaming. They also have lower latency, resulting in less delay when accessing websites or playing online games. Additionally, fiber optic networks are more resistant to interference and electromagnetic noise, providing a more stable and consistent connection.
3. Future-proofing: By replacing their copper networks with fiber optic networks, telecommunications companies are future-proofing their infrastructure. Fiber optics can support future technologies and increasing data demands, ensuring that their networks remain relevant and capable of handling future advancements.
In conclusion, telecommunications companies want to replace their outdated copper networks with modern fiber optic networks to provide faster, more reliable, and future-proof communication services.
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What is the term for a contract agreement in which an offeror promises to pay after the occurrence of a specified act, and the offeree is not required to respond in words?.
The term of such contract agreement where an offeror promises to pay after the occurrence of a specified act is called: unilateral contract.
What is a Unilateral Contract?A unilateral contract can be defined as a contract agreement whereby an offeror is obligated to pay only after a specified act has been fulfilled by the offeree.
For example, "I will pay you $2,500 if you bring my car from Texas all the way to Cleveland". The specified act that must be fulfilled before I pay is for you to bring my car. That is the acceptance.
Therefore, the term of such contract agreement where an offeror promises to pay after the occurrence of a specified act is called: unilateral contract.
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what does NBT stand for?
For Life Orientation
Demystifying the NBTs | National Benchmark Test Project.
The NBT stands for National Benchmark Test.
What is NBT (National Benchmark Test)?NBT stands for National Benchmark Test. This is an examination set up by the National Benchmark Test Project The NBT test is a set of tests used to assess a learner’s academic literacy, general knowledge, and mathematical skill in an effort to measure academic readiness for university.
The NBT tests were implemented in 2008 and are managed by the Alternative Admissions Research Project at the University of Cape Town. NBT results are used by many universities as an extra admission criterion for applicants to their institutions.
They serve to complement and support, rather than replace or duplicate NSC results. The National Benchmark Tests (NBTs) is known to be a kind of assessment test that is given to first-year applicants to higher education.
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Which option completes the explanation for conflict of interest in an organization?
Answer:
Explanation:
conflict of interest is defined as a condition where an individual or organization is in a conflicting situation where the fulfillment of one’s interest could mean the detriment to the others. organizations tend to avoid these kinds of situations to occur, especially between the employee and the organization.
Given a need to raise capital of $2 million and attorney costs of $150,000, with an underwriter's spread of 3%, the amount of bond issuance should be:
Answer:
The amount of bond issuance is $2,085,500
Explanation:
The computation of the amount of bond issuance is shown below:
= Raise capital + attorney cost - underwriter spread
= $2,000,000 + $150,000 - 3% of $2,150,000
= $2,150,000 - 3% of $2,150,000
= $2,150,000 - $64,500
= $2,085,500
Hence, the amount of bond issuance is $2,085,500
We simply applied the above formula so that the correct value could come
capital expenditures are expenditures that increase the company's investment in productive facilities. a. true b. false
The correct answer is a) true. Capital expenditures refer to investments made by a company in productive facilities, such as buildings, machinery, and equipment, that are expected to generate long-term benefits and increase the company's productive capacity.
These expenditures are typically significant and involve a substantial outlay of cash or financing. In contrast, operating expenditures are expenses incurred in the day-to-day operations of a business, such as salaries, rent, and utilities, that are necessary to keep the business running but do not involve significant capital investment. It is important for companies to carefully evaluate and plan their capital expenditures to ensure that they are making wise investments in their future growth and profitability.
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What is the difference between real property and real estate...? real property consists of the land, while real estate consists of the rights to use the land Real property consists of anything permanently attached to the land, while real estate consists of the bundle of rights to the land Real property consists of the land, land rights, and anything permanently attached to the land, while real estate consists of a structure attached to the land Real property consists of a structure attached to the land, while real estate consists of the land and the rights to use the land
Answer:
Real property consists of the land, land rights, and anything permanently attached to the land, while real estate consists of a structure attached to the land
Explanation:
Real estate refers to land that has a physical existence and the resources, structures are attached to it also it expands with respect to the rights of ownership and usage
While on the other hand the real property comprises fo land, rights of the land, and the thing that is permanently attached with respect to the land
Therefore the last second option is correct
What type of competition does a pizza parlor vs. an ice cream shop represent?
Answer:
Explanation:
Its an indirect competition because we know that a pizza parlor and ice cream shop belong to the same sector i.e. Food but in case of products sold we can observe that pizza is not the same product as an ice cream because one is considered as a fast food while other is mainly eaten as a dessert. If the pizza shop sold ice cream along with pizzas tooo then we might have come across a direct competition to some point.
But in this case the sector is same but the products sold are different therefore this competition can be considered as an indirect competition between the two parties.
Therefore we can conclude from the above statements that we can classify this competition as an indirect competition.
Use the following quote to answer the question.
"The power to propose the revision or amendment of any portion or portions of this constitution by initiative is reserved to the people, provided that, any such revision or amendment, except for those limiting the power of government to raise revenue, shall embrace but one subject and matter directly connected therewith."
The quote above is from the
Answer:
The Florida Constitution Article XI: Section 3
Explanation:
The above article is an extract from the Florida Constitution Article XI: Section 3. It extends the power to amend any sections of the constitution to the people except for limiting the government's power to raise revenue.
Answer: this quote is from the Florida constitution
Explanation:
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In terms of SUPPLY, what factors have contributed to the fall in oil prices?
Raul works in Human Resources and is interviewing four people for the position of Budget Analyst. Which candidate
has the best education for this particular career?
Candidate A bachelor's degree in Finance and master's degree in
Mathematics
Candidate B
bachelor's degree in Mathematics and associate's degree in
Marketing
Candidate C
associate's degree in Computer Programming and HS diploma
Candidate D
bachelor's degree in Economics and master's degree in
Management
?
O Candidate A
O Candidate B
O Candidate C
O Candidate D
Answer:
A
Explanation:
Answer:
it is a
Explanation:
just took the test
How do I quit my job as cashier already wrote resignation letter
What number is 0.1 more than 30.7?
Answer:
30.8
Explanation:
What is the largest denomination bill issued today?
Since July 13, 1969, when the bigger denominations of $500, $1,000, $5,000, and $10,000 were discontinued, the $100 note is the greatest denomination that has been produced and used in circulation.
The banknotes and coins that have been manufactured and released for usage in the economy are known as the currency in circulation. Notes and coins kept in the vault of the central bank, including notes and coins given back to the central bank by banks, are not regarded as money in circulation. The U.S. dollar continues to be the preferred reserve currency worldwide, regardless of how much money any one nation has in circulation. The United States benefits greatly from this on the international scene. The cost of oil, for instance, is expressed in USD. Under otherwise normal economic conditions, inflation may occur if the money supply expands more quickly than economic production. The rate of average price rises for goods and services over time is known as inflation.
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The profit and loss system of capitalism helps entrepreneurs determine the
O political impact of the use of resources in the production of a product.
O best human resources but not capital resources to use to produce a product.
best combination of resources to use to produce a product.
O best capital resources but not human resources to use to produce a product?
Answer:
best combination of resources to use to produce a product.
Explanation:
Capitalism also referred to as free-enterprise system or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, capitalism is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a pure capitalism is a type of economy that is completely driven by demand and supply of goods and services.
In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.
Hence, the profit and loss system of capitalism helps entrepreneurs determine best combination of resources to use to produce a product.
You have $65 in your savings account at the beginning of a month. The bank pays you
2.75% interest on this account each year; interest payments are made each month.
Assuming you make no deposits or withdrawals over the next month, how much
interest will you earn during the month?
Answer:
$0.15
Explanation:
Interest is calculated using the formula below.
I = P x i x t
where I = interest
P= principal amount.
i=interest rate
t=time
Interest is given as an annual percentage. A 2.75 % interest will translate to 2.75/100 divided by 12 monthly interest. Therefore, the applicable interest rate is 0.00229 %
interest for the month will be
i=$65 x 0.00229 x 1
=$0.14895
=$0.15
as a manager, how would you deal with resistance to change when you suspect that employees’ fears of job loss are well-founded?
Dealing with resistance to change can be a challenging task for any manager, particularly when employees' fears of job loss are well-founded. However, it is essential to address these fears in a compassionate and transparent manner while also highlighting the benefits of the change.
Here are some steps that managers can take to deal with resistance to change:
1. Acknowledge employees' fears: The first step in dealing with resistance to change is to acknowledge employees' fears and concerns. Managers need to empathize with their employees and show that they understand their concerns about job loss.
2. Communicate openly and transparently: The next step is to communicate openly and transparently about the reasons for the change, its benefits, and its potential impact on employees. Managers should provide as much information as possible to help employees understand the rationale behind the change.
3. Involve employees in the change process: Involving employees in the change process can help to build trust and reduce resistance. Managers can solicit feedback and suggestions from employees and involve them in planning and implementing the change.
4. Provide training and support: Employees may need training and support to adapt to the change. Managers should provide the necessary training and resources to help employees develop the skills they need to succeed in the new environment.
5. Offer incentives: Offering incentives can help to motivate employees to embrace the change. Managers can offer bonuses, promotions, or other rewards to employees who demonstrate a positive attitude and a willingness to adapt to the change.
Overall, dealing with resistance to change requires empathy, transparency, communication, involvement, training, and support. By taking these steps, managers can help employees overcome their fears and embrace the change.
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What does a money market account offer that a certificate of deposit (CD)
does not offer?
A. You can withdraw money at any time.
B. There is no difference between a money market account and a CD.
C. You make more money in interest.
D. You can open more than one money market account.
Answer: A. You can withdraw money at any time.
Explanation:
Answer:
A. you can withdraw money any time!!
Explanation:
Hope this helps!