Answer: it just happened
Explanation: no one knows how only him
1. If a manufacturer introduces a new product with a successful advertising campaign and an artificially low introductory
price, which of these will most likely result?
A. equilibrium
B. rationing
C. surplus
D. shortage
hift the supply curve for orange juice to the left?
Answer: The end is confusing but with what I've got I would have to say C?
Explanation:
You want to have $69,000 in your savings account 13 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the account pays 7.30 percent interest, what amount must you deposit each year?
The equal annual deposit which you must deposit each year for 13 years to have $69,000 in your savings account is $3362.48
How to find the amount that must be deposited each year?Future value (FV) refers to the estimated value of a current asset at an expected date based on an assumed rate of growth.
Annual deposits refers to the amount of money kept in a place at a particular time for safekeeping to be used at a future date.
FV = future value = $69,000i = interest rate = 7.30% = 0.073n = number of years = 13 yearsA = annual deposit.Solve using the formula;
FV = [A × {(1 + i)^n - 1}] / i
Making A the subject of formulaA = (FV × i) / [A × {(1 + i)^n - 1}]
A = (69,000 × 0.073) / {(1 + 0.073)^13} - 1
= 5,037 / {(1.073)^13} - 1
= 5,037 / 2.499 - 1
= 5,037 / 1.499
= $3362.48
In conclusion, the annual deposit which you must deposit each year is $3362.48
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Barriers to entry into a market come in many forms. Which lists some of the usual barriers to entry?
A.high unemployment, poorly skilled labor, resource shortages
B.lacking government regulation, plentiful supply of labor
C.weak demand for the product, low
market price
D.licenses, patents, high start up costs
Answer:c
Explanation:
took the test trust
When it comes to owning a hotel, there are a variety of options for ownership such as franchising, independent lodging, REITs, management contracts, and vacation ownerships or timeshares. Briefly explain each of these, highlighting the disadvantages and advantages of each. Which would you choose? Why?
Franchise, privately owned and operated, leased and managed are the four fundamental forms of hotel ownership and management. Although a franchising is privately owned, the owner must pay an initial franchise fee as well as monthly royalties.
A vacation property with a shared ownership model is a timeshare. In a normal timeshare, you split the cost of the property with other buyers in exchange for a set amount of year access to the franchising property. Less freedom to plan getaways ownership a timeshare may have a number of disadvantages, but perhaps the most significant one is the lack of flexibility many of them offer when it comes to holiday planning.
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1. Reduced Risk
2. Improved Valuations
3. Discover Better Talent
4. Increased Profitability
5. Capital
Cons of Franchising1. Less Control over Managers
2. Restricted Innovation
3. Risk of Bad Reputation
4. A Weaker Community
________________________________________________________
Pros of Independent Lodging1. Flexibility
2. Fixed prices
3. Unique experience
4. Financial autonomy
5. Proximity
Cons of Independent Lodging1. Volume
2. Yield Management
3. Promotion
4. Agreements
________________________________________________________
Pros of REITs1. Diversity
2. Dividends
3. Zero corporate tax
Tangibility
Liquidity
Cons of REITs
1. Taxes on dividends
2. Sensitive to interest rates
3. Value can be influenced by trends
4. Plan for a long-term investment
________________________________________________________
Pros of Management Contracts1. The conditions of the contract
2. The duration of the agreement
3. The method of computing the management fees
Cons of Management Contracts1. Crowded Space
2. The motivation of employees
3. Longer Sales Process
4. Security Issues
5. Taxes
________________________________________________________
Pros of Timeshares1. Long-term savings over hotels
2. Home-like accommodations
3. Real property ownership
4. Ability to exchange
5. Guaranteed vacations
6. Flexibility
7. Less maintenance than a vacation home
Cons of Timeshares1. The reputation of unethical players and scams
2. Flexibility
3. Ability to exchange
4. Cash flow
5. Timeshares do not appreciate
6. May be difficult to resell
7. Maintenance fees and special assessments
14. Lael is also planning for student groups that the office will be working with in the coming year. She decides to create a PivotTable to better manipulate and filter the student group data.
Switch to the Academic PivotTable worksheet, then create a PivotTable in cell A1 based on the AcademicGroups table. Update the PivotTable as follows so that it matches Final Figure 2:
To create a Pivot table in Excel : Select the data that needs to be added in the pivot table, then click on insert ribbon then select the pivot table. A menu will appear, click existing worksheet and on the worksheet click on cell A1. Finally click ok.
What is Pivot Table?Pivot table is used to summarize data in excel, the data with multiple entries is summarized together and a single figure is shown on the pivot table, which ease the work.
Select the data on the worksheet that needs to be added in the pivot table, ensure the data has headings and no heading is missing. After selecting the data click on the Insert ribbon and then select pivot table from the left. Upon selecting pivot table a menu will pop up and this will ask for further details, in the middle of the menu it can be selected whether the pivot table is to be placed in a new worksheet or an existing worksheet, if you select existing worksheet the path can be provided where it will be required to click on cell A1 to create a pivot table there.
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assume that a 4 percent increase in income results in a 2 percent increase in the quantity demanded of a good. the income elasticity of demand for the good is
Income Elasticity formula
= (Percent change in quantity demanded )/ (Percent change in Income)
= (2%) / (4%)
= (2/100) / (4/100)
= (0.02) / (0.04)
= 0.05 is the elasticity of demand here.
Inference - For a unit change in Income, there is a change of 0.05 units in consumption.
Income elasticity is positive and generally favorable if a 2 percent increase in demand for a good is accompanied by a 4 percent increase in income. the demand for the good's income elasticity.
Demand that is more or less responsive to demand changes in Income elasticity is said to have a higher income elasticity of demand. The ratio of percentage change in price to percentage increase in quantity demanded is used to measure it.
Goods can be roughly characterized as inferior goods and demand normal goods depending on the income elasticity of demand.
Income flexibility of a typical good
Demand for typical goods is positively correlated with income; as incomes increase, so does demand at every price point.
The income elasticity of a subpar good
The demand elasticity of inferior commodities is negative.
Consumers buy less subpar things as their income improves.
Income elasticity is defined as: % change in quantity / % change in income.
= 2%/4%
= 0.5 (+)
Quantity also rises in line with rising income.
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Operations management Determine the appropriate (Q, R) ordering policy
In order to increase an organization's profit, it is concerned with operations management to transforming resources like labor and materials into products and services as effectively as feasible. The correct ordering policy is R,Q.
What is operations management?Planning, coordinating, and controlling the production process as well as redesigning internal business procedures for the production of goods and services are tasks assigned to the management discipline known as operations management. It entails taking charge of making sure that business operations meet consumer needs while using the least amount of resources possible.
The management of a complete production or service system, or the process that transforms inputs (in the form of raw materials, labour, consumers, and energy) into outputs (in the form of goods and/or services for customers), is the topic of this article. Operations create services, monitor quality, and create products. Operation management includes using technology, dealing with suppliers and customers, and managing operations.
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How is a background similar to a shape?
Answer: they both have contrast and are abstract
Explanation: your welcome
to calculate direct materials on the schedule of cost of goods manufactured, add purchases to beginning raw materials inventory and subtract ______.
The Beginning WIP Inventory must be added to the Total Manufacturing Cost and the Ending WIP Inventory must be subtracted in order to calculate COGM.
The required details for Cost in given paragraph
The value of money that has been used in the creation or delivery of a good or service but is no longer available for use in accounting, retail, research, or accounting is known as a cost. When it comes to business, the cost may be one of acquisition, in which case it is the whole amount of money spent on acquiring it.
In this case, money is the input needed to receive the thing. This acquisition cost may include both additional transaction expenses incurred by the acquirer as well as the cost of production borne by the original producer.
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You ordered a pizza from a store that does not have home delivery. Which of these was provided by this transaction?
a good
both goods and services
a service
Answer:
Explanation:
3
Journalize the following transactions of Upton Drugs:
Transactions:
July 8 Received a $180,000, 90-day, 8% note dated July 8 from Miracle Chemical on account.
Oct. 6 The note is dishonored by Miracle Chemical.
Nov. 5 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Miracle Chemical on Oct. 6.
Required:
Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest.
Journalizing the transactions of Upton Drugs for the period is as follows:
Journal Entries:July 8 Debit Note Receivable $180,000
Credit Accounts Receivable $180,000
To record the receipt of the 90-day 8% note from Miracle Chemical.Oct. 6 Debit Accounts Receivable (Miracle Chemical) $182,250
Credit Note Receivable $180,000
Credit Interest Revenue $2,250
To record the dishonor of the note at the due date and the accrued interest.Nov. 5 Debit Cash $183,768.75
Credit Interest Revenue $1,518.75
Credit Accounts Receivable (Miracle Chemical) $182,250
To record the receipt on the note with due interest.What are Journal Entries?Journal Entries are made to record business transactions.
Journal Entries identify the accounts involved in each transaction and differentiates the account to be debited from the account to be credited.
Transaction Analysis:July 8 Note Receivable $180,000 Accounts Receivable $180,000
90-day, 8%.
Oct. 6 Accounts Receivable (Miracle Chemical) $182,250 Note Receivable $180,000 Interest Revenue $2,250
Nov. 5 Cash $183,768.75 Interest Revenue $1,518.75 Accounts Receivable (Miracle Chemical) $182,250
Interest Revenue:Oct. 6: Interest Revenue = $2,250 ($180,000 x 8% x 90/360)
Nov. 5: Interest Revenue = $1,518.75 ($182,250 x 10% x 30/360)
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In the box "Adapting to Change" we read that robots excel at
O financial planning.
O customer communication.
O mundane, repetitive tasks.
O human resources.
In the box "Adapting to Change" we read that robots excel at mundane, repetitive tasks.
What is the term Adapting to Change means?The term Adapting to Change can be described as one that tell us about how the society is moving from the analogue life to the digitized system which help the society to experience a rapid change in technology which make the world a better place.
For instance the robot can be used for perform various mundane, repetitive tasks which can be performed faster than human labor and this help to save time as well as increase the productivity.
Therefore, option C is correct.
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Whats the best example of situational awareness when performing a non-service task?
Example of situational awareness is If you're out alone at night, you should be aware of your surroundings and ready to act if you feel threatened.
Define situational awareness.The idea of situational awareness has long been used in the fields of aviation, medicine, and the military. The advantages of situational awareness are substantial, with an improvement in task, team, and organizational performance as the most crucial results. In this CQ Dossier, we examine how it may be applied as a management tool in both the public and private sectors. The three level paradigm, the fundamentals of situational awareness, and techniques for raising situational awareness in specific contexts will be the main topics of discussion.
Situational awareness is a term that has been used for many years. At that time, academics and industry professionals both endorsed the advantages of situational awareness for reducing errors and enhancing performance.
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1. The main difference between capitalism in Japan and in the United States is intense
involvement with the private sector. Additionally, tightly-knit firms governed
reduce the threat of
by a board of directors, called the
The missing words from the above sentence with regard to the main difference between capitalism in Japan and the US are:
GovernmentMonopolyKeiretsu.What is the full sentence?It is to be noted that the full sentence is:
The main difference between capitalism in Japan and in the United States is intense Government involvement with the private sector. Additionally, tightly-knit firms governed by a board of directors called the Keiretsu to reduce the threat of Monopoly.
Keiretsu is best defined as a complex corporate network with long-term transactional ties.
A keiretsu is a group of enterprises with mutually beneficial commercial connections and shareholdings. In the legal sense, it is a sort of informal business organization that is loosely formed alliances within Japan's business community's social world.
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On February 1, you bought 100 shares of stock in the Francesca Corporation for $34 a share and a year later you sold it for $39 a share. During the year, you received a cash dividend of $1.50 a share. Compute your HPR and HPY on this Francesca stock investment.
The HPR and the HPY on the stock investment in Francesca Corporation is 19.12%.
What is the HPR and HPY?The HPR and the HPY are abbreviations for holding period return and holding period yield respectively. The holding period return and the holding period yield is the total return that is earned over the period which you own an investment.
The holding period return and the holding period yield is the sum of the dividend yield and the price appreciation of the stock. The dividend yield is the ratio of the dividend earned and the price at which the stock was bought. The price appreciation is the increase in the value of the stock over the holding period.
HPR = dividend yield + price appreciation
Dividend yield = (dividend / initial stock price)
$1.50 / $34 = 4.41%
Price appreciation = ($39 / $34) - 1 = 14.71%
HPR = 4.41 + 14.71 = 19.12%
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Why is following up with a phone call after submitting a résumé so important?
Answer:
It shows you have actual interest in the job, and want to pursue it.
Explanation:
Which of the following is the best example of clear and concise writing for a résumé?
a.
explored every avenue
b.
last but not least
c.
at this point in time
d.
finally
finally is the best example of clear and concise writing for a resume. Hence, option D is correct.
What is meant by clear and concise writing?Writing well and concisely requires careful word choice, deliberate phrase structure, and correct grammar usage. By writing in a clear and concise manner, you can help your readers understand your message quickly and easily.
It is clear and succinct and uses short sentences and basic terminology. It is straightforward to read and understand and keeps to the facts. The writer's intended message is so obvious that the reader can understand it in one reading.
Thus, option D is correct.
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GATS, a sister body of the World Trade Organization, is responsible for extending free trade agreements in what area?
GATS, a sister body of the World Trade Organization, is responsible for extending free trade agreements in services area.
What is are the objectives of GATS?The GATS is intended to make sure that the rules and laws that WTO member nations impose on the trade in services are open and equitable. The Schedule of Specific Commitments, which each signatory appended to the GATS and made a part of the Agreement, is the main market-opening component of the Agreement.
What is the difference between GATT and GATS?While the General Agreement on Trade in Services (GATS) is the main WTO agreement governing trade in services, the General Agreement on Tariffs and Trade (GATT) is the agreement covering trade in products.
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According to a summary of the payroll of Mountain Streaming Co., $120,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $30,000 was subject to state and federal unemployment taxes. Question Content Area a. Determine the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
If according to a summary of the payroll of Mountain Streaming Co., $120,000 was subject to the 6.0% The employer’s payroll taxes is $10.500.
Employer’s payroll taxesa. Employer’s payroll taxes
Social Security Tax $7,200
(120,000×6.0%)
Medicare Tax $1,800
(120,000×1.5%)
State Unemployment Tax $1,260
(30,000×4.2%)
Federal Unemployment Tax $240
(30,000×0.8%)
Employer's payroll taxes $10,500
b. Journal entry
Debit Payroll Tax Expense $10,500
Credit Social Security Tax Payable $7,200
Credit Medicare Tax Payable $ 1,800
Credit State Unemployment Tax Payable $1,260
Credit Federal Unemployment Tax Payable $240
Therefore the employer’s payroll taxes is $10.500.
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The complete question is:
According to a summary of the payroll of Mountain Streaming Co., $120,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $30,000 was subject to state and federal unemployment taxes. Question Content Area a. Determine the employer’s payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%. b. Journalize the entry to record the accrual of payroll taxes.
Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes? (Input the amount as a positive value. Round your intermediate calculations and final answer to the nearest whole number.)Tax InformationAdjusted gross income.Standard deduction Child care tax creditFederal income tax withheld Tax rate on taxable income
$ 47,310
$ 24,000
$100
$2,080
10 percent
Your effective tax rate is the proportion of your taxable income that you pay in taxes. Divide your entire tax liability (line 16 on Form 1040) by your total taxable income to get your effective tax rate.
What can be deducted from my gross income?
An expense that is deducted from adjusted gross income (AGI) lowers taxable income and, consequently, the amount of taxes due. Interest on a mortgage loan, uninsured medical expenses, charity contributions, and state and local taxes are examples of common itemized deductions.
the return of $669
Taxable income of $27,966 ($46,686 - $11,420 - $7,300) multiplied by the average tax rate of 15% results in $4,195; this amount is then reduced by a $80 tax credit to yield a tax liability of $4,115. The refund is $669 when compared to the federal tax withheld ($4,784).
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Typically, what percentage of the home cost should you have available for a down payment?
Answer: 5%
Explanation: if you're a first-time home buyer, a 5–10% down payment is fine. Keep in mind, any down payment less than 20% will come with that monthly PMI fee, which will increase your monthly mortgage payments
Answer:
is 10%
Explanationdd
Casey complains to her mom that she hasn't heard back from any of the jobs that she applied to. Her mom asks if she followed up with them to which Casey gives her a bewildered look. What does Casey's mom mean by "follow up" with the jobs that she applied to?
Question 1 options:
1. driving by the location and see if they look busy
2. contacting them to ensure that they've received the resume, cover letter, and other submitted documents
3. calling and pretending to be a reference and offering a glowing recommendation of herself
4. checking the job site to see if the job she applied for is still available
Casey's mom mean by follow up is (b). contacting them to ensure to received the resume, cover letter, and other documents
Followed up of HR is an important part of management hiring process. Either you recieve the confirmation mail for the further process that you are selected or the information for trying the next time to the job applied.
One must always be in touch or contacting to ensure whether all the things have been recieved carefully and at the correct time by them. Several jobs applied required various documents which should fulfill the criteria.
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"Even diminutive problems need to be addressed before we move forward."
The meaning of the fragment means that when we are developing a project we must solve all the problems that arise, even if they are small to continue properly.
What is a problem?A problem is a term that refers to a conflict between what is and what should be, a difficulty or an inconvenience in achieving an end. Problems are inherent in life, in our daily lives we often find it difficult to carry out some activities.
How does the quote relate to the problems?According to the quote, it can be interpreted that when we are carrying out a particular process or activity, we must go sequentially, or step by step, to ensure that everything will work correctly. Because if we find a small problem and move on without fixing it, it can turn into a bigger problem that we can't easily fix.
An example of this is when we are building our own house and we find that one of the tiles that we are going to put is a little cracked, surely we believe that when we put the rest of the tiles this problem will not cause us inconvenience later on. However, when we finish putting all the tiles and we are finishing the house it starts to rain and we realize that a large amount of water enters through the cracked tile.In that case we would have to remove the entire roof again to replace that tile. If we had changed that tile at the right time we wouldn't have to remove the entire roof again.
Note: This question is incomplete because there is some information missing. Here is the complete information:
Question:
What does the quoted passage mean?
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Answer the attached file
According to the Pottermania case study, the top three challenges facing Amazon's supply chain are:
There is the issue of late release of the title, which complicates the logistics of updating the website; there is also the issue of the release date. Although FedEx agreed to the shipping terms, it was more difficult because it was a weekend;Amazon's information systems team faced its most difficult obstacle. As orders are in some cases received months in advance, each customer's details must be checked and stored for future shipments.What information system, as an expert in the digital supply chain, can address the problems described above?Information technology integrates multiple supply chain activities carried out by various businesses. It speeds up company operations and removes bottlenecks. Companies, particularly those in manufacturing, are moving closer to on-time procurement, lower inventory, and more efficiency.
In the following situation, for example, client data would have been checked at the point of purchase using an IT System. As a result, the most serious issue that Amazon's IT system was experiencing at the moment was resolved.
At the time, the push system was the only model that supply chain members felt most comfortable with. But with IT consolidation, dragging the system is not only possible but common. Remember that IT also made e-books possible.
Pull systems start production in response to current demand, while push systems start output in anticipation of future demand. Production in a pull system is driven by actual demands for finished goods, whereas production in a push system is initiated without regard to demand.
The bullwhip effect is a supply chain phenomenon that describes how small fluctuations in retail demand can lead to larger fluctuations in demand from wholesalers, distributors, manufacturers, and raw material suppliers. This impact develops owing to a lack of access to market helicopter view information. With technological improvements, this may be addressed if the major participants in the chain use IT and the pull system.
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Which of these definitions does not describe economics?
Economics is the study of how people relate to each other.
Economics is the study of how a consumer purchases items from a producer to satisfy a human want or need.
Economics is about how people try to answer the three basic economic questions.
Economics is the study of how goods and services are produced.
Answer: The first one, Economics is the study of how people relate to each other.
Explanation:
Match each issue with the best solution
1 An administrator needs to gather information
on patient referrals to determine the source
of each referral and which types of agencies
refer the greatest number of patients.
2 A primary care provider notices an increase
in fracture injuries among patients in the
10-to 13-year-old age range and wonders
if there might be a connection among the
injury type, the age range, and patients'
leisure activities.
3 A nurse values patient-centered care and
wants to encourage her patients to take
an active role in developing their treatment plans.
A. Shared decision making
B. Analytical thinking
C. Abstract thinking
An administrator had a decision making attitude, a primary care provider have analytical thinking and the nurse have abstract thinking.
What is analytical and abstract thinking?In the very first question the administrator have decision making personality as the administrator is gathering information on patient referrals.Decision making is the quality of human personality which depict one's attitude towards making quick decisions.In the second question the primary care provider had analytical thinking towards the patients.Analytical thinking means the thinking of logical concepts and based on one's intelligence.In the third and the last question the nurse had abstract thinking.Abstract thinking means the caring nature towards the patient.To know more about analytical thinking visit:
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An American company operates a fast food restaurant in Romania. Which of the following statements is accurate? Multiple Choice The value of the goods and services produced by the restaurant is included in Romanian GDP, U.S. GDP and U.S. GNP. The value of the goods and services produced by the restaurant is included in Romanian GDP, but not in U.S. GDP. U.S. GNP increases. The value of the goods and services produced by the restaurant is included in U.S. GDP, but not in Romanian GDP. One-half of the value of the goods and services produced by the restaurant is included in Romanian GDP, and the other one-half of the value is included in U.S. GDP.
The accurate statement will be : The value of the goods and services produced by the restaurant is included in Romanian GDP, but not in U.S. GDP. U.S. GNP increases.
The market price of goods and offerings produced by using hard work and assets furnished by way of U.S. residents, irrespective of in which they may be positioned. It turned into used because the number one degree of U.S. manufacturing previous to 1991, whilst it was changed with the aid of gross domestic product (GDP).
GNP produces vital information on manufacturing, financial savings, investments, employment, manufacturing outputs of primary groups, and other monetary variables. Policymakers use this statistics in preparing policy papers that legislators use to make legal guidelines.
Real GNP growth is visible as an development in living standards. Sadly, GNP isn't an excellent degree of social welfare and even has its challenge in measuring economic output.
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JPM Overnight Delivery is one of the premier providers of shipping and information services
worldwide, competing against firms like FedEx and UPS. As it prepares its marketing plans for the
years ahead, it will conduct a very thorough SWOT analysis. Your job is to look at eight potential
elements of JPM's SWOT analysis and determine which are strengths, weaknesses, opportunities,
and threats. Your ability to properly categorize these elements in your own career will allow you to
maximize your firm's strengths and opportunities while also minimizing weaknesses and threats.
Place each item with the appropriate element of the SWOT analysis.
Closings of Post Offices JPM has a superior information technology infrastructure. JPM has an excellent workforce and a Human Resource department. STRENGTH, OPPORTUNITY The global economic downturn JPM is facing a labor cost increase. JPM has fewer fuel-efficient planes as a threat. WEAKNESS, Increasing fuel costs due to Middle East turmoil THREAT.
What is a SWOT analysis?A SWOT analysis is intended to facilitate a realistic, fact-based, data-driven look at the strengths and weaknesses of an organization, initiative, or industry. The organization must keep the analysis accurate by avoiding preconceived notions or gray areas and instead focusing on real-life contexts. Companies should view it as a guideline rather than a prescription.
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Saul owns a local shoe store that sells a variety of top shoe brands to his local
community. Because Saul does not actually make the shoes at his store and
purchases them from a manufacturer, he is considered a(n):
enterpriser
producer
extractor
merchandiser
Because Saul does not actually make the shoes at his store and purchases them from a manufacturer, he is considered a merchandiser. Thus, option D is correct.
Who is the manufacturer?A manufacturer is a person or entity that sells its products to customers directly and collects payment from them. The customer may have purchased the merchandise from a wholesaler or the company directly.
As from the time a commodity is brought to the retailer until a customer takes the item off the store, merchandisers are all in charge of anything that occurs to it.
Therefore, option D is the correct option.
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The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of 50 business travelers is selected and each traveler is asked to provide a rating for the Miami International Airport. The ratings obtained from the sample of 50 business travelers follow.
5 9 10 2 2 2 2 7 7 7 7 6 7 8 9 9 2 10 2 7 6 9 8 10 9 2 7 5 7 2 2 7 7 6 2 10 8 2 6 6 9 5 2 10 7 10 2 2 6 6
Develop a 95% confidence interval estimate of the population mean rating for Miami. Round your answers to two decimal places.
(____,____)
The margin of error that is in the question that we have here and the data is 5.216, 6.784
How to solve for the margin of errorσ2 = Σ(xi - μ)2 / N
= (5 - 6)^2 + ... + (6 - 6)^2 / 50
= 400 / 50
= 8
σ = √8
standard deviation = 2.8284271247462
We have to find the margin of error
Margin of Error (Confidence Interval)
The mean is going to have to follow the normal distribution. The standard error of the mean would then be solved by the use of the formula that we have here
σx = σ /√N
=0.4
Using the margin, the 95% margin would be
6 ±0.784
= 6 - 0.7894 , 6 + 0.784
= 5.216, 6.784
Therefore the margin of error that we have here would be given as 5.216, 6.784
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