people keep spending units of a particular resource on a want until their marginal benefit is ____ their marginal cost. A. Decreasing with B. Greater than C. Less than D. Not affected by
Suppose you manage an upscale restaurant in New York City. __________ would involve writing employee schedules and a list of things to do for the chef and other kitchen staff.
Operational Planning
Writing employee schedules and a list of things to do for the chef and other kitchen staff are the part of operational planning. Operational planning is the procedure of preparation of strategic goals of an organization. The operation plan gives the strategies of resource allocation to achieve goals. Therefore, writing the employee schedules and the things kitchen staff should be a part of operational planning.
What does it mean to cleanse data before it is stored in a data warehouse?
Cleansing data involves removing errors, standardizing formats, and recoding data to ensure consistency and integrity before storing it in a data warehouse. This process is essential for accurate analysis and effective data management. Raw data must be prepared through these steps to be useful for statistical analysis.
What Does It Mean to Cleanse Data Before It Is Stored in a Data Warehouse?
Cleansing data, also known as data cleaning or data scrubbing, is a crucial step in the data preparation process before storing it in a data warehouse. This process involves several key activities:
Removing or correcting erroneous data entries, such as outliers, missing values, and duplicates, to ensure data integrity.Standardizing data formats to ensure consistency, which helps in overcoming issues where similar information may be represented differently.Recoding data, where necessary, to transform data into a standardized form that is easier to analyze. This often involves changing the coding of variables to a consistent format.These steps are essential because raw data cannot be used directly for statistical analysis or other forms of data analysis. By cleansing the data, we ensure that database queries yield accurate results, making the data easier to manage, particularly in large-scale systems or when dealing with high volumes of records.
The fabric house has sales of $411,800, total equity of $237,400, and a debt-equity ratio of .55. what is the capital intensity ratio?
Google has started a project to scan all books and make those that are not copyrighted available to people free of charge. why is it important that only books without a copyright are available?
You have the opportunity to opt into the BRS because you are either an Active Component (AC) member who will have completed fewer than _____ or a Reserve Component (RC) member who will have fewer than _____ as of December 31, 2017
One of the growers is excited by this advancement because now she can sell more crops, which she believes will increase revenue in this market. as an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market.
In the context of business and economics, elasticity determines whether a company should adjust its prices and how these adjustments might affect total revenue.
The question asks how changes in price can affect a company's total revenue, using the concept of elasticity. Elasticity measures the responsiveness of the quantity demanded or supplied of a good or service to a change in its price. If a product has an elasticity less than 1, it is considered inelastic, meaning the percentage change in quantity demanded is less than the percentage change in price.
In such a case, increasing the price can lead to a higher total revenue because the decrease in quantity sold will be proportionally smaller than the increase in price.
Conversely, if a product has an elasticity greater than 1, it is considered elastic, and a decrease in price could lead to an increase in total revenue, as the increase in quantity sold will more than offset the decrease in price. Finally, if the elasticity is exactly 1, the product is unit elastic and total revenue is maximized at the current price level.
At a price for which quantity demanded exceeds quantity supplied, a __________ is experienced, which pushes the price __________ toward its equilibrium value. surplus; downward surplus; upward shortage; downward shortage; upward
When quantity demanded is greater than quantity supplied, a shortage occurs. This shortage causes a rise in the price until the market reaches equilibrium.
Explanation:At a price for which quantity demanded exceeds quantity supplied, a shortage is experienced, which pushes the price upward toward its equilibrium value. In economics, when the demand for a product exceeds its supply in the market, it creates a shortage. The result of a shortage is an increase in the price as consumers are willing to pay more to obtain the product. This upward pressure on the price continues until the market reaches an equilibrium where quantity demanded equals quantity supplied.
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Tom is the it manager for an organization that experienced a server failure that affected a single business function. what type of plan should guide the organization's recovery effort?
You have been called in as a consultant to analyze the operations at wru. based on the readings, what would you advise widgets ‘r us to do in order to sustain the competitive advantage in the widget market?
Widgets 'R Us should perform a SWOT analysis, deeply understand market dynamics, assess profitability through gross margin and ROS, and focus on differentiating themselves through innovation, sustainability, or market focus. Leveraging their financial performance for strategic investments will also be crucial in sustaining their competitive advantage.
Strategies for Sustaining Competitive Advantage
If you are consulting for Widgets 'R Us to sustain their competitive advantage in the widget market, I would recommend several strategies. Firstly, they should conduct a thorough SWOT analysis to understand their strengths, weaknesses, opportunities, and threats. Focusing on areas that allow them to capitalize on their strengths and opportunities while mitigating risks associated with their weaknesses and external threats is pivotal.
Understanding the market is crucial, and Widgets 'R Us must continuously assess market conditions and competitor actions to proactively respond. They may do better than competitors by providing superior widgets or offering better customer service. Being aware and responding to competitors' product launches and market changes ensures the company stays ahead.
To improve profitability, examining the gross margin and return on sales (ROS) may reveal opportunities for price adjustments without losing market share. A careful balance between profitability and customer value will contribute to a sustainable competitive edge.
Lastly, differentiating by focusing on innovation, sustainability practices, or niche markets where they can serve customers more effectively than competitors can distinguish Widgets 'R Us from the rest. It's also essential that they leverage their operational excellence, as indicated by a strong contribution margin and solid financial performance, to expand capacity and invest in strategic initiatives that pave the way for long-term success.
If price elasticity of demand is 0.5, it follows that a _______ percent decrease in price would cause a _______ percent increase in quantity demanded.
Explain why the rapid delivery deployment of new systems is often more important to businesses than the detailed functionality of these systems.
The xyz company has two offices, one in chicago, and a brand new office in pittsburgh. to connect the two offices, they will need a dedicated line, probably leased from the phone company. what type of network will they be implementing to connect their two offices?
"although gdp is likely the best measure of economic activity in the economy, one reason why gdp is considered to be an imperfect measure is because:"
The reason why GDP is considered to be an imperfect measure is that not only it measures the products or services in a given time in a country but it does not include the purchase of foreign goods as the products and services it measures are only of the country it resides.
GDP is an imperfect measure of economic welfare because it excludes nontraded goods and services, ignores income distribution, and does not account for sustainability or environmental impact, among other factors. Despite these drawbacks, it is still the primary indicator used for assessing macroeconomic performance.
While Gross Domestic Product (GDP) is the most commonly used indicator of economic activity, it is an imperfect measure of economic welfare. GDP is designed to quantify economic activity but it does not capture all aspects that contribute to the well-being of society. One of the limitations is that GDP excludes nontraded goods and services, which can be substantial in certain economies. Therefore, while GDP can provide a rough indication of the material well-being of a country, it does not account for all factors that affect the quality of life and prosperity.
Additionally, GDP does not consider the distribution of income within a society or the value of leisure and unpaid work. It also doesn't measure the sustainability of growth or the negative impacts of economic activity, such as environmental degradation. These limitations necessitate the use of additional statistical measures when attempting to gauge overall economic welfare. However, despite these imperfections, GDP remains the best single indicator we have for comparing macroeconomic performance between different countries.
How does a corporation’s investment in a political or social agenda affect its duty to its shareholders?
Suppose you currently earn $30,000 a year. you are considering a job that will increase your lifetime earnings by $300,000 but that requires an mba. the job will mean also attending business school for two years at an annual cost of $25,000. you already have a bachelor’s degree, for which you spent $80,000 in tuition and books.
Is ultrasound a reliable method for determining the gender of an unborn baby? there is accompanying data on 1000 births in the table below?
Ultrasound is usually a reliable method for determining an unborn baby's gender. It provides detailed 3D images and valuable density changes information in the fetus. However, results' accuracy increases as the pregnancy progresses and may be affected by various factors.
Explanation:Yes, ultrasound is generally a reliable method for determining the gender of an unborn baby. Ultrasound imaging is a widely used technique for studying fetal growth and development as it can produce detailed 3D images of the fetus and provide valuable density information related to changes in the fetus. The high level of detail revealed in advanced ultrasound systems enables the observation of whether the fetus is developing at a normal rate and assists in early detection of potential issues.
It's worth noting that the accuracy of gender determination via ultrasound increases as the pregnancy progresses. It's typically difficult to definitively determine the baby's sex before about 18-20 weeks of pregnancy. Even then, factors like the baby’s position, the amount of amniotic fluid, and the thickness of the abdominal wall can affect the clarity of the images.
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The 1924 name change from The Computing, Tabulating, and Recording Company to International Business Machines was done in part to signal to the world the _____ in which IBM would operate, thus providing a clear, broad understanding of IBM's sector and organizational offerings
Competition between a company selling iced tea and a company selling soda is an example of what type of competitors:
Calculate the net working capital from the information given below. the figures are in millions of dollars. cash and cash equivalents $ 90 inventories 450 accounts receivable 255 fixed assets 1,080 short-term investments 145 goodwill 90 accounts payable 220 long-term borrowings 660 short-term borrowings 85 interest payable 115
When you choose, you are never accountable for the resources used and paths selected?
The goals scored per game by a soccer team represent the first quartile for all teams in a league. what can you conclude about the team's goals scored per game?
Final answer:
The team's goals per game being in the first quartile means it scores fewer than at least 75% of the league's teams, which may suggest a defense-focused strategy or challenges in offense.
Explanation:
If the goals scored per game by a soccer team represent the first quartile for all teams in a league, we can conclude that this team scores fewer goals compared to at least 75% of the teams. The first quartile, also known as Q1, marks the cutoff point below which 25% of the observations lie. In this context, it means that the team's goals per game fall in the bottom 25% when compared to all other teams' goals per game. This could indicate that the team has a stronger defense-focused strategy, a struggling offense, or perhaps faces other challenges that affect its scoring ability.
Lee jeans meets customer demand by sending computer requests from stores to the manufacturing departments as jeans sell out in stores. lee's manufacturing department then pulls in raw materials, such as cloth and thread, from suppliers as it needs them. this information indicates that lee uses ________. computer-aided-materials management (camm) traditional mass production six sigma strategy for managing quality of the products computer-aided designing (cad)
Josh has been asked to be a part of a new business venture that develops wind energy technologies. since the business involves high risk, he does not want to be held completely liable for the firm's debts if the project fails. in this case, josh is most likely to prefer to participate as a(n): member of a cooperative. limited partner. general partner. owner of an s corporation. sole proprietor.
In a survey regarding job satisfaction, 574 in a sample of 934 female job-holders stated that they are satisfied with their jobs, while 500 in a sample of 755 male job-holders stated that they are satisfied with their jobs. the null hypothesis is that the proportions of all female and male job-holders who are satisfied with their jobs are the same. the alternative hypothesis is that the proportion of female job-holders who are satisfied with their jobs is lower than the proportion of male job-holders stated who are satisfied with their jobs. the significance level is 2.5%. what is the critical value of z for the hypothesis test?
Countries that liberalize international trade and investment enjoy faster per-capita economic growth.
a. True
b. False
In a survey of consumers aged 12 and older, respondents were asked how many cell phones were in use by the household. (no two respondents were from the same household.) among the respondents, 215215 answered "none," 280280 said "one," 362362 said "two," 149149 said "three," and 140140 responded with four or more. a survey respondent is selected at random. find the probability that his/her household has four or more cell phones in use. is it unlikely for a household to have four or more cell phones in use? consider an event to be unlikely if its probability is less than or equal to 0.05.
A. Let us tabulate the data:
none – 215 respondents
one – 280 respondents
two – 362 respondents
three – 149 respondents
four or more – 140 respondents
So the total number of respondents are:
total = 1146
So the probability that the selected household has four or more cell phones is:
P = 140 / 1146 = 0.122
So there is a 0.122 chance or 12.2% chance that the selected household has four or more cell phones.
B. Since P > 0.05, therefore it is not an unlikely event.
Undertaker enterprises earns $0.17 in profit on every $1 of sales and has $0.67 in assets for every $1 of sales. the firm pays out 20 percent of its profits to its shareholders. what is the internal growth rate?
Information technology and the internet have, in essence, resulted in two societal groups: the information rich and the information poor. this is called the _____.
The divide created by information technology and the internet, resulting in societal groups of the information rich and information poor, is known as the digital divide. This divide leads to a significant knowledge gap and contributes to increasing social and economic inequality.
Explanation:Information technology and the internet have indeed created a divide in society, aligning individuals into two primary groups: the information rich and the information poor. This phenomenon is widely recognized as the digital divide. The digital divide is a form of technological stratification that represents differential class-based access to technology. It subsequently leads to a knowledge gap, where those with less access to technology have a continuous and increasing gap in information. This situation is exacerbated in educational settings, where students in well-funded schools receive more technology exposure than those in poorly funded ones. Moreover,
The global digital divide further contributes to inequality, as access to technology directly influences education, employability, and economic status. In the modern era, termed the information age, the economy is driven by knowledge rather than material goods, placing power in the hands of those who can store and distribute information. As a result, social classes are increasingly divided by access to education and technical skills, essential for success in an information society.
Zipcar was developed to adapt to customers' changing transportation needs. zipcar’s success is because it was able to create a venture that satisfied these unfulfilled needs. this is an example of what?