Random variable

Chapter 5 1. Describe low-cost strategy. How does this relate to differentiation? A. Low cost strategy is a business model where companies do everything in their power to reduce or lower their costs structure to compete in the market to sell their goods at a lower price than its competitors while maintaining the product quality. There are two types of strategies that include in implementation of the low cost strategies, they are: a. Functional strategies & b. Competitive strategies Functional…

1. Variable costs will vary in direct proportion to changes in the level of an activity (1. Walther & Skousen, Managerial and Cost Accounting, 2009, 37). In other words this cost can’t be the same in all periods of time. It can be for example electricity bill for company’s office or fuel for the truck in the warehouse. Fixed costs are opposite for variable costs. Fixed cost don’t change with the level of an activity. Even if the output or input of a unit changes, it will still remain in the…

4. Storage and inventory management 4.1. Chicken: Chicken inventory is for 15 days. Chicken is not stored in the warehouse, in fact there is a separate cold storage area is built for chicken right beside every warehouse in each region. 4.2. Sauces: Inventory for Sauces are stored for around 25 to 30 days depending on the expiry dates and forecasted sales. 4.3. Spices and Herbs: Inventory for spices and herbs are stored according to forecasted sales and the lead time given by the procurement…

1. a). Suppose that company A is the only producer of Vitamin D and act as a monopolist.Suppose the company produces 40 units of Vitamin D at $4/unit. If the company decidesto produce 10 units more, what is the price effect? What is the quantity effect? Would thecompany then have an incentive to produce 10 more units?If BASF produces 10 moretons, it now produces 50 tons and the price would fall to $3 per ton. On each of the40 tons it was already producing, it would lose $1. So the price effect…

incurred are the salaries paid to the employees. Organizations ensure that their marginal resource cost is equal to or less than the amount it takes to produce one more unit of the product. MRC= Change in total cost/Change in inputs When more units of variable inputs are used the marginal cost first decreases and then decreases. Marginal revenue product is the additional revenue generated from using one more unit of the input. It is given by change in total revenue divided by the change in…

Decision Variables(From Article): Xijk –Number of production cycles of k consecutive batches of product i using route j. Gijk –Granulation time for k consecutive batches of product I using route j. Sijk –Press setup time for k consecutive batches of product I using…

Dippin’ Dots, ice cream of the future, includes flash-frozen ice cream, flavored ice, sherbet, and yogurt. They started in 1988, but have been a franchise only since 1999. This first ever beaded ice cream was invented by microbiologist, Curt Jones, a Southern Illinois University graduate. Dippin’ Dots is headquartered in Paducah, Kentucky and now has over 200 franchise units. Most units are in places such as malls, amusement parks, or sporting arenas. Different types of franchising units are…

There were five cells observed while conducting the experiment. The five cells consisted of cardiac muscle, elodea (a plant), paramecium (a protist), rhizopus stolonifer (bread mold, a fungus), and Bacterial cells (bacilli). Each cell was observed under high power lens (except for rhizopus stolonifer) with a total magnification of 400μm and a dFOV of 400μm. The estimated object size, scale bar, and drawing magnification of each cell was found except for cardiac muscle. Each cell appeared much…

In another scene, shortly after taking inventory of the limited food supply in the HAB, Watney exclaims, “Luckily, I’m a botanist!” Leadership researchers call this attitude self-confidence, which is the ability to be certain about one’s competencies and skills” (p. 24). Amazingly, Watney proceeds to use his competence as a botanist to halt starvation by cultivating enough potatoes to sustain him for some time. In another scene, Watney displays a surpassing level of technical skill, which is…

The population boom in recent years is due to the young population, the many career opportunities and easy commuter access. Barrie is split by the Highway 400, which acts as the primary route between Barrie and Toronto. Highway 400 divides the city in East and West, where the Bay, known as Kempenfelt Bay, divides the City into North and South. This gives me an Easy way to explain the Neighbourhoods of Barrie. A Simple Way to separate the Neighbourhoods of Barrie is into 4 - Quadrants. NE,…