Answer:
Observation
Explanation:
Empirical studies is observational evidence-based analysis. It refers to a way of obtaining insight through directly and indirectly evaluation or practice. Empiricism views more than most types of work. It is possible to mathematically or subjectively evaluate empirical proof.
Research design in such studies varies depending on the area and the problem being examined. Several scientists combine theoretical and practical types of study to adequately respond to comments that can not be examined in laboratory conditions, especially in humanities and learning.
Thus, from the above we can conclude that the correct option is C.
The empirical method refers to a type of study based primarily on observation. Researchers in various fields use this method to gather and interpret data to draw conclusions.
Explanation:The empirical method of study is based primarily on observation. In essence, the empirical method involves using data collected through observation or experimentation to learn about the world. This type of study is often employed in the social and natural sciences, where researchers observe, record, and interpret data to draw conclusions. For example, a psychologist might use the empirical method to understand the impact of specific behaviors on mental health, by observing and compiling data from multiple patients' experiences with these behaviors.
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Cheyenne Corp. uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units Unit Price May 7 40 $17 July 28 30 22 On June 1, Cheyenne. sold 20 units, and on August 27, 30 more units. Calculate the average cost of the goods sold in the sale.
Answer:
The COGS for the June 1st sale is $17 per unit, and the COGS for the August 27th sale is $20 per unit.
Explanation:
Date Number of units Unit balance Unit cost Average cost
May 7 40 40 $17 $17
June 1 (20) 20 $17
July 28 30 50 $22 $20
August 27 (30) 20 $20
The average COGS after the purchase on July 28 = [(20 x $17) + (30 x $22)] / 50 = ($340 + $660) / 50 = $20
Ramon has been appointed the manager of a retail store. He wants to bring the store into the modern era and direct its future by utilizing the latest trends in visual merchandising. What can Ramon do to achieve this?
A.
display fast-selling products near the cash register
B.
display banners at the entry point of the store
C.
install mannequin robots to display clothes
D.
hire experienced staff members to help customers
E.
stack up similar products in a similar pile
Answer:
C. install mannequin robots to display clothes
Explanation:
Among the offered answers, a truly avantgarde, modern approach is to implement robot mannequins in the store. With this tactic, customers would be incentivized to approach this innovative customer journey. Through pioneering this technique, Ramon's company would get a competitive advantage through visual merchandising.
Answer:
C. install mannequin robots to display clothes
Explanation:
Which of the following price indices is designed to measure changes in the prices of goods and services purchased by a typical individual?
a. Producer Price Index
b. Index of Leading Economic Indicators
c. Gross Domestic Product (GDP) Deflator
d. Consumer Price Index
Answer:
d. Consumer price index
Explanation:
Consumer price index in any country consists of goods and services that are used in day to day activities by consumers e.g. daily food items, utilities, transportation etc. The index is used to measure the increase in weighted average prices of the constituents over a particular time.
Option A is price index for producers that measures the increase in price of goods and services that are typically used by different producers for their output.
Option B is an analysis that is used to assess the trends of any economy. This analysis is performed by government economists, officials and government to make informed decisions about future actions. Individuals have no use of the index.
Option C Gross domestic product (GDP) deflator is a price adjustment to GDP of current year to depict the actual growth in value of goods and services produced in a particular year. GDP deflator is a reduction of inflation rate from nominal rate of increase in GPD.
Carroll Inc., a cell phone manufacturer, has its assembly operations performed by Mortimer Corp., a firm that deals exclusively in assembling products for other companies. This scenario indicates that Carroll engages in the practice of ___.
Answer: Outsourcing
Explanation Outsourcing refers to the business process of recruiting a group across from a corporation to perform menial tasks and produce products that perhaps the firm's own workers and personnel have historically done in-house.
Outsourcing is indeed a process practiced as an expense-cutting method for businesses in general. As just that, this can impact a broad variety of jobs, including customer support to production to back offices.
Usually, external organizations arrange with their staff distinct remuneration systems than that of the outsourcing company, allowing them to finish the work for less pay.
Organizations could use an outsourcing approach in conjunction to cost-cutting to put more focus on the key business issues. Outsourcing anti-core operations will boost efficiency and effectiveness since these smaller activities are performed much better by another agency than the business involved.
As new ride-sharing companies compete against taxi companies, which had previously enjoyed monopoly power, what will happen to the price and quantity of transportation services?a) Prices will rise and quantity will rise.b) Prices will fall and quantity will rise.c) Prices will rise and quantity will fall.d) Prices will fall and quantity will fall.
Answer:
b) Prices will fall and quantity will rise.
Explanation:
A new entrant that offers competitions to taxi services increases the supply of transport services. Customers that had been used to getting services from one source will now have a choice.
As per the law of supply, an increase in supply leads to a decrease in the price. Monopolies set high prices to maximize profits due to a lack of competition. The two companies will try to win customers by offering competitive prices. An increase in competition represents an increase in quantities supplied, which results in lower prices.
Zoro Inc., a consumer electronics company, does not store any of its materials in the warehouse. Instead, the company's procurement department orders small quantities of materials as and when they are required. The vendors supply the ordered material directly to the company's manufacturing unit a day or two before the production starts. This arrangement helps Zoro Inc. to reduce costs and boost efficiency. This scenario best illustrates _____.a. mass customizationb. crowdsourcingc. just-in-time inventory managementd. continuous manufacturing systemse. contract manufacturing
Answer:
Option C is correct
Explanation:
This is to ensure that components needed for production of goods are delivered in time and it would help reduce capital investment on inventory.
Final answer:
Zoro Inc. uses just-in-time inventory management, ordering materials as needed and receiving them directly at the production site, which reduces costs and increases efficiency.
Explanation:
The procurement strategy employed by Zoro Inc., where the company orders small quantities of materials as and when they are required, with the materials being supplied directly to the manufacturing unit just before production begins, is an example of just-in-time inventory management. This approach minimizes costs related to storing materials in warehouses and enhances efficiency by reducing the capital tied up in inventory. Instead, it leverages coordinated schedules between the company and the vendors, ensuring material delivery aligns with the production needs.
Just-in-time systems benefit from advancements in communication and transportation, allowing for global-scale coordination. Adopted from key Japanese business practices, they emphasize the importance of efficiency and minimize resource wastage. This inventory management system is further supported by technologies that enable real-time tracking and ordering of parts, such as ERP systems with RFID, thus aligning with the concept of Industry 4.0.
Aspen Ore purchased a vein of coal ore for $5,300,000. It is estimated that 32,000,000 tons of ore are available to be extracted. The estimated depletion expense for this year’s extraction of 2,790,000 tons of ore is: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.)
Answer:
$462,094
Explanation:
Depletion expense is a charge against profits for the use of natural resources. It is calculated by multiply the number of consumed units of the natural resources by the cost per unit.
Cost per unit = Total cost / total number of units expected to be extracted = $5,300,000 / 32,000,000 = 0.165625
Depletion expense = Cost per unit x extracted units = 0.165625 x 2,790,000 = $462,094
Churchill Automobiles is a delivery truck manufacturer. It is a new company and wants to gather information on how to improve the standard of quality delivered by the company's production team. Based on this information, which of the following ISO standards must the company refer to:A) ISO 15001
B) ISO 9000
C) ISO 10001
D) ISO 12000
Answer: Option (B)
Explanation:
ISO 9000 is referred to as the set of the principle. These help an organization so as to ensure that they meet the consumers and stakeholder needs which are given within the sanctioned and administrative requirements that are related to the commodity product or the service. This deals with the essentials of quality management systems.
Churchill Automobiles should refer to ISO 9000, specifically ISO 9001:2008, which outlines the standards and principles necessary for improving the quality management system of their delivery truck manufacturing processes.
Churchill Automobiles, a delivery truck manufacturer, is seeking to improve the standard of quality delivered by its production team. The relevant ISO standard for a company looking to enhance its quality management system is B) ISO 9000, specifically ISO 9001:2008. ISO 9000 outlines a set of standards to ensure organizations can consistently meet customer and other stakeholder needs within statutory and regulatory requirements related to a product or service.
ISO 9001:2008 incorporates the following eight fundamental principles of quality management:
Customer-focused
Leadership
Involvement of people
Process approach
Systems approach to management
Continual improvement
Factual approach to decision making
Mutually beneficial supplier relationship
These principles are integral to building a quality management system that promotes transparency, consistency, and continual improvement, ensuring that Churchill Automobiles can enhance the quality of its delivery trucks and maintain customer satisfaction.
The case suggests that one reason for the success of The Container Store is that it offers ________ rewards—rewards that are desired by the workers, as motivators.
A. instrumental
B. emotional
C. expectant
D. equitable
E. valent
Answer:
E) valent
Explanation:
Valent rewards refers to rewards that employees want and desire, therefore they are a source of motivation. Valent rewards are not the same for everyone, since every individual values a reward in a different way. For example, some people value public recognition a lot, while others only value monetary rewards.
If valent rewards are associated with good performance, then the employees will be motivated to perform better, e.g. additional bonuses given to salespeople if they increase their monthly sales by 10%.
Consider the labor market for computer programmers, which is in equilibrium. During the late 1990s, the value of the marginal product of all computer programmers increased dramatically.
Holding all else equal, what effect did this process have on the equilibrium wage in the labor market for computer programmers?
a) The equilibrium wage did not change.
b) It is not possible to determine the equilibrium wage.
c) The equilibrium wage decreased.
d) The equilibrium wage increased.
Answer:
C) The equilibrium wage decreased.
Explanation:
Marginal product is the change in total production as a result of a one-unit-addition of a factor of production. The equilibrium wage will decrease as the increase in marginal product of the computer programmers causes a subsequent increase in the demand for computer programmers, since employing one more worker brings about an even higher production. The resources available for wages are held constant and have to be shared among the now bigger number of programmers, lowering the wage equilibrium level.
Holly wants to have an extravagant wedding on an exotic, tropical island. She dreams that the weather will be perfect and that all her friends and family will have the most memorable time of their lives. This describes Holly’s _____ expectations with regard to this event.
Answer:
Ideal Expectations.
Explanation:
Ideal expectations are something where the desired expectations are equal to the perfect plan that is expected out from the real result with zero modifications. Holly here dreams of a perfect imaginative wedding which she finds to be perfect in every sense. Thus, this type of expectation is termed as ideal expectation.
When an insured decides to change her mode of premium payment from annually to monthly, the total premium due would:A. FluctuateB. IncreaseC. Remains the sameD. Decrease
Answer:
correct option is B. Increase
Explanation:
solution
when change payment from annually to monthly
so premium due would be increase as in annual premium
because premium is paid at the start of the year where is in twelve monthly installment last premium is almost at the end of the year
So that, when the premium is paid on an annual basis insurance company is access to full premium at the start
it can be used for generating return
so correct option is B. Increase
When an insured decides to change her mode of premium payment from annually to monthly the total premium due would remain the same.
Explanation:
Since the amount is paid annually, changing it to monthly payment will mean the spread of the annual premium that is supposed to be paid over the twelve months which will be an equal amount.
Therefore there would be no change in the total premium due to be paid.
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Flash Card Inc. recently underwent a significant company-wide change that involved revision ofits manufacturing and leadership processes. The result of this was a stronger emphasis on horizontalcoordination. This level of change is referred to as:
(A) reorganization.
(B) reengineering.
(C) e-engineering.
(D) strategic planning.
(E) corporate structuring
Answer: Option (B)
Explanation:
Reengineering is referred to as the remodel of the business or organization processes and further the systems and the structure of the organization— so as to accomplish the dramatic development in their performance. It has been also referred to as the new approach to adhere to the business development, with potential so as to accomplish dramatic improvement in their performance.
Which investment should be made today to have $25,000 in an account if it is invested at 2.15% compounded monthly for 25 years.
Answer:
14,619.88
Explanation:
The investment today amount shall be calculated using the following formula:
F=P(1+i/n)^nt
F= total future amount which include interest+principal=$25,000
P=Amount that should be invested today
i=interest rate per year=2.15%
n=number of months in a year=12
t=time involved in investment in years=25
F=P(1+i/n)^nt
25,000=P(1+2.15%/12)^12*25
25,000=P(1.71)
P=14,619.88
a. Jose's opportunity cost of producing and consuming one more orange is 2 melons. b. Alex's opportunity cost of producing and consuming one more orange is 2/3 melon. c. Alex's opportunity cost of producing and consuming one more orange is 4,000 melons.
d. Jose's opportunity cost of producing and consuming one more orange is 1/2 melon.
Answer:
Since the question is incomplete, we could infer that you like to know how to calculate opportunity cost.
Explanation:
Opportunity cost is the value of the next best alternative or option.
Opportunity Cost= FO−CO
where:
FO=Return on best foregone option
CO=Return on chosen option
Let's take for example, Jose expected return on investment in producing one orange is 20 percent over the next year, and also expects the return of investment for melon to be 18 percent over the same period.
His opportunity cost of choosing the melon over the orange using the formula FO−CO = (20% - 18%), which equals two percentage points.
The process of making choices in increments by evaluating the additional, or marginal, benefit against the additional, or marginal, cost of an action?
Answer:
Marginal decision making
Explanation:
Marginal decision making is can simply be said to be a consideration of a little more or a little less than one already have. This entails evaluating additional or lesser benefits against the additional o lesser cost of a good or service.
Cheers.
Countries that currently have low real GDPs per capita are destined to always have lower living standards than countries that currently have high real GDPs per capita.
True or False
Answer:
The correct answer is the option: True.
Explanation:
To begin with, the GDP per capita is a monetary measure that establishes the value of the final goods and services produced in an economy divided by the total amount of citizens within that particular economy, therefore that it measures the amount of production that an individual inside that country produces.
Secondly, the living standards refers to the combination of factors that determinates the quality of life inside a certain economy, therefore that with higer level of living standards the life inside a country is better for most of the individuals within and lower living standards determinates that the life in a country is not so good as others. Moreover, this type of measure is affected by the GDPs per capita of the economy and therefore that a low GDPs per capita impacts in a low living standard and a high GDPs per capita determinates a high living standard.
The multiplier process is limited by _________ of cash as individuals may "keep out" some of the cash from their loan..
°injections
°leaks (correct)
°burning
°none of the above
Answer: Leaks
Explanation: Multiplier process is the term used to describe the series of actions put in place to ensure a quick fix to certain economic issues. It may require a high level spending by Government in infrastructures or through individual investments in order to improve the overall performance of the economy,their well-being or by implementation of some economic policies by Government.
The main limitations to the Multiplier process is Leaks.
Leaks are caused when certain amount of cash or other economic resources are diverted or withheld preventing it from impacting the system. In this case the "keep out" of some of the cash from their loan is actually a leak.
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers?
Answer:
fast responses at a lower cost
Explanation:
Based on the information provided it can be said that Charles will likely use an online survey primarily because it offers fast responses at a lower cost. This is because the customers receive this in their mail and/or e-mail, and are easily able to fill it out in a couple of minutes. If Charles send's the survey through mail it will be one of the cheapest options other than e-mail which is completely free.
Charles will likely use an online survey primarily because it offers fast responses at a lower cost. Online surveys are cost-effective, easy to distribute, and provide instant data recording. Thus, option (D) is correct.
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers fast responses at a lower cost.
Benefits of an online survey:
Fast responses at a lower cost: Online surveys are cost-effective and can collect data quickly.Ease of use: Platforms like SurveyMonkey make it easy to create and distribute surveys.Instant data recording: Responses are immediately stored in an online database, allowing for quick analysis.Anonymity: Online surveys can help collect truthful answers by maintaining respondent anonymity.Flexibility: Surveys can be easily modified and include multimedia such as videos.However, it's crucial to ensure the survey reaches a representative sample and guard against multiple submissions to maintain data integrity.
Complete Question:
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers:
A. relatively low response rates.
B. the ability to share videos with respondents.
C. the ability to ask sensitive questions with anonymity.
D. fast responses at a lower cost.
E. the opportunity to survey both existing and potential customers.
What is the maximum period that an insurer would pay benefits in accordance with an Additional Monthly Benefit rider?
Answer:
One year
Explanation:
A rider refers to an additional benefit that is added to an insurance policy. These are options that a policy holder can include in their policy. The Additional Monthly Benefit rider gives additional benefits to a person that has a disability income policy in the first year of a claim while he/she waits for the Social Security benefits. According to this, the maximum period that an insurer would pay benefits in accordance with an Additional Monthly Benefit rider is 1 year.
A music streaming service provides its customers with recommendations based on their past listening behavior. This is an example of marketing:_________
Answer: Forecasting
Explanation:
Forecasting is employed by the music streaming service to predict the songs their customers would like to hear based on their previous listening behavior.
Market forecast is the process of predicting future market outcomes based on previous records or patterns of the market.
Dutch researcher Geert Hofstede identified four cultural dimensions by studying _____data on IBM employees from dozens of countries___.
Answer:
employee value scores branch officesExplanation:
Geert Hofstede studied a large database of employee value scores collected within IBM Corporation between 1967 and 1973 in over 70 different branch offices. He published his first results in 1980 which included data from more than 100,000 IBM employees that worked in branch offices in 40 countries. He later expanded his study to include more than 70 different branch offices and countries.
The 4 cultural dimensions that Hofstede identified are:
Individualism-collectivism Masculinity-femininity power distance uncertainty avoidanceGeert Hofstede conducted research based on survey data from IBM employees across many countries to identify four cultural dimensions: Power Distance Index, Individualism versus Collectivism, Masculinity versus Femininity, and Uncertainty Avoidance Index.
Explanation:Dutch researcher Geert Hofstede studied cultural differences across countries and introduced the concept of cultural dimensions. The research he conducted was based on survey data collected from IBM employees across dozens of nations. The four dimensions that he identified were: Power Distance Index (PDI), Individualism versus Collectivism (IDV), Masculinity versus Femininity (MAS), and Uncertainty Avoidance Index (UAI). These dimensions represent essential and distinct cultural preferences, and understanding these can foster effective cross-cultural communication and business practices.
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each professor averages one publication per year and both are excellent teachers. given this information, the wage difference is best explained by
Answer:
Royalty
Explanation:
The difference in their earnings would be by the Royalty they receive from their publications. If the Royalty of one teachers publications is more than that person would be earning more.
Royalty is dealt through a different account called Royalty Account.
Adam sells audio and video equipment. He tells a customer, Abbey, "This MP3 player is the best one ever made." Adam's statement is:
a. fact.
b. fraudulent misrepresentation.
c. puffery.
d. appropriation.
Answer: Puffery
Explanation:
Adam's statement is puffery which is a form of exaggerated praise of his mp3 product he sells.
Puffery is a form exaggerated praise of a person or an item, which most individuals won't take serious.
(Last Word) From 2006-2010, the federal government paid $600 million in retirement benefits to deceased federal employees, with the checks being illegally cashed by relatives. This example illustrates:_________
A. The benefits-received principle.
B. Logrolling.
C. Bureaucratic ineï¬ciency.
D. The problem of limited and bundled choices.
Answer:
bureaucratic inefficiency.
Explanation:
From 2006-2010, the federal government paid $600 million in retirement benefits to deceased federal employees, with the checks being illegally cashed by relatives. This example illustrates the bureaucratic inefficiency..
it shows that bureaucrats are not efficient as they not fulfill their plan accordingly and locals easily cashed check through fraud.
The increased use of the Internet presents a lot of potential for which types of businesses?
Answer:
Local businesses, SME's and International businesses
Explanation:
The era of the internet has provided the work to integrate and create more opportunities for the business to grow and improve. More importantly, the internet has created a pathway for small businesses, local businesses, and small businesses to grow and expand globally. The internet has also helped businesses to set up their operations globally and locally to attract more markets and consumers.
Corporations have limited liability, but lose ultimate control of corporate assets to the ______________ ..
Answer:
Stockholders
Explanation:
Stockholders are the owners of a company. As owners , stockholders have voting rights in the company. Shareholder elects directors who represent them on the board of directors. Each share is equivalent to one vote. The board members recruit top management of the company. The board provides policy guidelines, makes critical decisions, and supervises senior management.
By electing board members, shareholders influence the management of the business. Should the stockholders be unhappy with the way the company is being managed, they can vote out the current director and elect new ones. The new directors then appoint fresh managers. In this way, shareholders maintain control of the assets of the company and its assets.
Ellen Ortiz works as a sales manager at a telecom firm. The company has recently launched a new product in the market. Her work in the next few weeks involves sharing knowledge about the product with her team members. She will also need to inspire them to reach their sales targets and clarify any doubts about the new product. Which of the following roles is Ortiz playing?A) leaderB) liaisonC) disseminatorD) spokespersonE) negotiator
Answer:
correct option is A) leader
Explanation:
solution
As Ellen Ortiz work as a sales manager and inspire to team so they reach their sales target and clarify all doubts about new product so we can say she play team leader role
because team Team Leader Duties and Responsibilities that is
keep all information about product and clear all doubts about product motivate their team for reach their goal with providing training Recruit and provide training to sales Teamand prepare sales Report etcso here correct option is A) leader
On January 1, 2016, the Accounts Receivable balance was $28,100 and the balance in the Allowance for Doubtful Accounts was $3,200. On January 15, 2016 an $940 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is:
a) $27,160.
b) $23,960.
c) $24,900.
d) $25,840.
Answer:
Net Accounts receivable = $24900
so correct option is c) $24,900
Explanation:
given data
Accounts Receivable balance = $28,100
Doubtful Accounts = $3,200
uncollectible account = $940
to find out
net realizable value of accounts receivable immediately
solution
we get here first Accounts receivable that is
Accounts receivable = Accounts Receivable balance - uncollectible account ...............1
Accounts receivable = $28,100 - $940
Accounts receivable = $27160
and
allowance will be here
allowance = Doubtful Accounts - uncollectible account .................2
allowance = $3,200 - $940
allowance = $2260
so Net Accounts receivable is
Net Accounts receivable = $27160 - $2260
Net Accounts receivable = $24900
so correct option is c) $24,900
What is a strategic group? A. A group of firms in different industries that follow similar strategies B. A group of firms in an industry following the same or a similar strategy in a given target market C. A group of firms in an industry following different strategies D. A group of firms that do not compete with each other E. A group of firms that target different markets with different strategies
Answer:
B. A group of firms in an industry following the same or a similar strategy in a given target market
Explanation:
Strategy group is a terminology used in business management to refer to specific group of people who are responsible for designing and formulating policies and business forecast aimed at creating sustainability in an industry.