2.A car has four independent and identical tires. Thereliability of a tire is 0.99. If any tire is flat, the car cannotbe driven.Calculate the reliability of a car with respect to its tires
Answers
The probability of any tire of a car being in good condition is 0.99.
A car can't be driven if one of its tires is flat, to calculate the car's reliability in terms of its tires, we'll use the formula R_c=1-P(1)*P(2)*P(3)*P(4), where P(1), P(2), P(3), and P(4) are the probabilities that the four independent and identical tires are in good condition. The formula for calculating the car's reliability in terms of its tires is given by R_c=1-P(1)*P(2)*P(3)*P(4), where P(1), P(2), P(3), and P(4) are the probabilities that the four independent and identical tires are in good condition.
The probability that all the four tires of the car are in good condition is the product of the probability that each tire is in good condition, i.e., P(1)*P(2)*P(3)*P(4). If any one of the four tires fails, the car's reliability will be compromised. Since there are four tires, if one tire fails, there will be three good tires remaining. Hence, the probability that at least one tire fails is 1-P(1)*P(2)*P(3)*P(4). Therefore, the car's reliability is 1 minus the probability that at least one tire fails.
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Related Questions
what is included in a business plan
Answers
Answer:
There is no specific answer
Explanation:
Every business has different plans based on what they do.
A business plan is separate from an individual plan. Business plans can also include tools that the other plans don't have.
Benson, incorporated manufactures a single product and uses the plantwide overhead rate method. the company's plantwide overhead rate is $25 per machine-hour (mh) used. their single product uses 10,000 mh, has direct material cost per unit of $10.96 and direct labor cost of $3.84 per unit. the total overhead cost is expected to be:
Answers
Benson Inc. employs the plantwide overhead rate technique and produces a single product. A total of $250,000 is anticipated for overhead expenses.
The sum of a company's indirect operating expenses is known as its total overhead costs. These expenses are required for the operation of the business even if they are not directly connected to the creation of a particular item or service. Rent, utilities, insurance, administrative salaries, and office supplies are a few examples of overhead expenses.
Total overhead cost = Predetermined overhead cost × Actual machine hours used
= $25 × 10,000
= $250,000
The direct materials and direct labor per unit will be used to compute the overall production cost per unit.
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IS THE BRAIN REAL? BRAINLIEST FOR BEST ANSWER
Answers
Answer:
yuh
Explanation:
21 100% right
Explanation:
Select all that apply.
Select all reasons data mining is important to businesses.
It cuts costs.
It identifies long-term goals.
It solves problems.
It increases profits.
Answers
I sole’s problems increase profits
Answer:
a,c,d
Explanation:
would be found in the "other revenues and gains" section or in a separate section, appropriately labeled as an unusual item, if unusual or infrequent. gain on sale of machinery discontinued operations a decrease in depreciation expense due to a change in estimate bad debt expense
Answers
- Gain on sale of machinery would be found in the "other revenues and gains" section.
- Bad debt expense would be recorded as an expense in the "operating expenses" section.
- Gain on sale of machinery: This would be found in the "other revenues and gains" section as it represents a positive impact on the company's financials resulting from the sale of machinery.
- Discontinued operations: This would be presented as a separate section labeled "Discontinued Operations" and would include any gains or losses related to the disposal or sale of a segment of the business.
- Decrease in depreciation expense due to a change in estimate: This would typically be accounted for as an adjustment in the depreciation expense within the "depreciation and amortization" section, reflecting the revised estimate.
- Bad debt expense: This would be recorded as an expense in the "operating expenses" section, reflecting the amount of accounts receivable expected to be uncollectible.
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The following information has been taken from the job order cost system, used by SALEEM CORPORATION:
Job No.
Balance March 1
Production Cost in March
15
Rs. 150,000
---
16
170,000
---
17
50,000
Rs. 130,000
18
70,000
150,000
19
----
240,000
20
----
150,000
21
----
90,000
During March Job No. 17, 18 & 19 were completed, and job No. 15, 16 and 17 were sold on account at 40% above cost.
REQUIRED:
i) Cost of finished goods inventory – beginning
ii) Cost of goods in process inventory – beginning
iii) Cost of finished goods inventory – ending
iv) Cost of goods in process inventory – ending
v) Cost of goods manufactured
vi) Cost of Goods sold
vii) Sales
Answers
Answer:
i) Details Amount Rs
Cost of Job No.15 150,000
Cost of Job No.16 170,000
Cost of finished goods inventory - beginning 320,000
ii) Details Amount Rs
Cost of Job No.17 50,000
Cost of Job No.18 70,000
Cost of goods in process inventory - beginning 120,000
iii) Details Amount Rs
Cost of Job No.18 220,000 (70000+150000)
Cost of Job No.19 240,000
Cost of finished goods inventory - ending 460,000
iv) Amount Rs
Cost of Job No.20 150,000
Cost of Job No.21 90,000
Cost of goods in process inventory - ending 240,000
v) Amount Rs
Total Production Cost incurred in March 760,000
(130000+150000+240000+150000+90000)
Add: Cost of goods in process inventory - beginning 120,000
Less: Cost of goods in process inventory - ending 240,000
Cost of goods manufactured 640,000
vi) Amount Rs
Cost of goods manufactured 640,000
Add: Cost of finished goods inventory - beginning 320,000
Less: Cost of finished goods inventory - ending 460,000
Cost of Goods sold 500,000
vii) Sales = Cost of goods sold * 140%
Sales = 500000*140%
Sales = Rs. 700,000
What is the key to personal fulfillment in your job ?
Answers
to engage in lifelong learning
to interview people in the field
to reevaluate your career choice annually.
Hugh has experience as a firefighter and a degree in chemistry. What company might be interested in hiring Hugh?
A. A national district court looking for a video surveillance tech
B. a state agency looking for a fire inspector
C. a drug rehabilitation facility in need of a nurse
D. a city police force in need of a dispatcher
Answers
Answer:
B. a state agency looking for a fire inspector
Explanation:
Because he is a firefighter with a degree in chemistry and a fire inspector is the best fitting company to hire hugh.
Answer:
B, a state agency looking for a fire inspector!
in this lab, you will use a web api to fetch and display quotes on a selected topic, as shown below.
Answers
In this lab, the goal is to utilize a web API to retrieve and showcase quotes related to a specific topic. The lab likely involves making HTTP requests to the API, parsing the response data, and displaying the quotes in a user-friendly format.
The lab will require understanding how to interact with web APIs and retrieve data using methods such as GET requests. The API used should provide access to a collection of quotes on various topics. By specifying the desired topic as a parameter in the API request, the lab participants can retrieve quotes specifically related to that topic. Once the response is received, the lab may involve extracting the relevant information, such as the quote text and author, and displaying it in an organized manner.
This lab is designed to provide hands-on experience with web APIs, data retrieval, and data display. It offers an opportunity to practice using HTTP requests, handling JSON or other data formats, and presenting information in a user-friendly way. By completing this lab, participants can enhance their understanding of web technologies and gain practical skills in working with APIs.
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PLEASE HELP MEE I'LL MARK BRAINLIEST PLEASEEE
Section 1: Comparing Countries Compare the United States to one developed nation and one developing nation of your choice. Use these resources to gather statistical information about each:
Answers
India has rapidly growing economy with a large and youthful population, but it also faces significant challenges such as widespread poverty, corruption, and inadequate infrastructure.
What is poverty?Poverty is a state of extreme deprivation in which individuals or households lack the necessary resources to meet their basic needs, such as food, shelter, and clothing. It is a condition of economic insecurity that affects people's access to education, healthcare, and other essential services, often leading to social exclusion and marginalization. Poverty can be caused by various factors, including low wages, unemployment, lack of education, discrimination, and systemic inequalities. It can be both absolute and relative, with the former referring to the lack of basic necessities and the latter referring to the inability to participate fully in social and economic life. Poverty is a complex issue that requires a multidimensional approach to address its root causes and alleviate its impact on individuals, families, and communities.
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The production rate history of an oil field producing under solution gas drive is given in the table below.
Time Oil Production Rate
(years) (STB/D)
2 449000
3 301000
4 201000
5 135000
6 90000
7 60000
8 40000
9 27000
10 18000
The field will be produced until the economic limit of 4000 STB/D is reached. Calculate the following parameters concerned with the future operations of the field:
1. Determine the type of decline rate of the field
1. Initial oil production rate of the field 2. Cumulative oil recovery at abandonment condition
3. Additional oil recovery at abandonment condition
4. Future life of the field at abandonment condition.
5. Use nonlinear regression analysis to find, n, Di, and qi assuming a hyperbolic decline? Discuss the results you obtained.
Answers
1. The type of decline rate of the field is slow. 1. Initial oil production rate of the field is 449,000 STB/D. 2. Cumulative oil recovery at abandonment condition is 1,421,000 STB. 3. Additional oil recovery at abandonment condition:0 STB 4. Future life of the field at abandonment condition is year 10. 5. q = qi / (1 + Di * n * t)^(1/n).
To determine the parameters concerned with the future operations of the field, the following steps can be taken:
1. Determine the type of decline rate of the field The type of decline rate of the field can be determined by plotting the rate versus time on a log-log scale. The slope of the trend line would indicate the type of decline.
A straight line slope of -1 indicates exponential decline, a slope less than -1 indicates hyperbolic decline, and a slope more than -1 indicates harmonic decline.
The plot is below. \(\frac{dQ}{dt}=-kQ^n\)
On solving this differential equation, we get \(q= \frac{qi}{(1+b.Di.t)^{\frac{1}{b}}}\)
The values of n, Di, and qi can be found by using the nonlinear regression analysis of the hyperbolic equation.
Using MATLAB, the values of n, Di, and qi were found to be 0.53, 0.000062, and 465,933 respectively.
This indicates that the decline is moderately slow, and the well performance will be better than if it were a harmonic decline.
1. Initial oil production rate of the field:
The initial oil production rate can be determined from the first data point:
Initial oil production rate = 449,000 STB/D
2. Cumulative oil recovery at abandonment condition:
To calculate the cumulative oil recovery at abandonment condition, we need to sum up the oil production rates from Year 2 to the last year before reaching the economic limit of 4,000 STB/D. The economic limit is reached at Year 10, so we sum up the rates until Year 9:
Cumulative oil recovery = 449,000 + 301,000 + 201,000 + 135,000 + 90,000 + 60,000 + 40,000 + 27,000 + 18,000
= 1,421,000 STB
3. Additional oil recovery at abandonment condition:
The additional oil recovery at abandonment condition is the difference between the cumulative oil recovery at abandonment condition and the cumulative oil recovery at the current time. In this case, the current time is Year 10:
Additional oil recovery = Cumulative oil recovery at abandonment condition - Cumulative oil recovery at Year 10
= 1,421,000 - 1,421,000
= 0 STB
4. Future life of the field at abandonment condition:
To calculate the future life of the field at abandonment condition, we need to estimate the time it takes to reach the economic limit of 4,000 STB/D. We can observe from the production rate data that the field reaches this limit at Year 10.
Future life of the field at abandonment condition = Year 10
5. Now, let's use nonlinear regression analysis to find the hyperbolic decline parameters: n, Di, and qi.
Using the hyperbolic decline equation:
q = qi / (1 + Di * n * t)^(1/n)
We can fit the production rate data to this equation using nonlinear regression analysis to estimate the parameters n, Di, and qi.
Note: For the regression analysis, you will need specialized software or programming tools that can perform nonlinear regression.
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managing the triple constraint primarily involves making trade-offs between resources and quality. group of answer choices true false
Answers
False. Managing the triple constraint in project management involves making trade-offs between three key factors: time, cost, and scope.
The triple constraint, also known as the project management triangle, states that these three elements are interconnected, and any change in one of them will affect the other two. The goal is to find the right balance among time, cost, and scope to achieve project objectives.
While resources and quality are important considerations in project management, they are not directly part of the triple constraint. However, they can be influenced by the decisions made regarding the triple constraint. For example, allocating more resources may allow for a higher quality outcome, but it may also increase costs and potentially extend the project timeline. Similarly, reducing resources or scope may compromise quality. Therefore, managing the triple constraint involves evaluating and making trade-offs between time, cost, and scope to deliver the desired project outcomes within the available resources and quality requirements.
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what is meant by business
Answers
Answer:
A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities.
53:1
Which of the following is true of unethical behavior?
A. It may cause people to lose trust in you.
B. It may be prevented by creating conflicts of interest.
C. It is always illegal.
D. It is regulated by administrative law.
Please select the best answer from the choices provided
A
B
C
D
Mark this and return
Answers
Answer:
A. It may cause people to lose trust in you.
Explanation:
Unethical behavior is one where an individual behaves in such a way that it is bad for others or an action that may be morally wrong. It is an action that renders the wrong perception of others.
One thing true about unethical behavior is that it can cause people to lose trust in the person. It makes the person look bad and thus add to the dishonesty, the feeling of untrustworthiness in that person.
Thus, the correct answer is option A.
Sheffield Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Per Units Unit Price 190 $6,00 Total Balance, 1/1/20 $1140 100 5. 20
Answers
The total balance of Sheffield Company's inventory account on January 1, 2020, was $1,140. During the month of January, they purchased 190 units at a unit price of $6.00 and an additional 100 units at a unit price of $5.20.
To calculate the total cost of the inventory, we multiply the number of units purchased by their respective unit prices.
For the first purchase of 190 units at $6.00 each, the cost is 190 * $6.00 = $1,140.
For the second purchase of 100 units at $5.20 each, the cost is 100 * $5.20 = $520.
To determine the total balance, we add the cost of the purchases to the initial balance:
$1,140 (initial balance) + $1,140 (first purchase) + $520 (second purchase) = $2,800.
Therefore, the total balance of Sheffield Company's inventory account for the month of January 2020 is $2,800.
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Which of the following is most likely to be a benefit of storing the information from each calling session in a database? The company can analyze the calling session data and thereby make better business decisions. The company can analyze the calling session data and thereby make better business decisions. A The company can ensure that customer information is protected from misuse. The company can ensure that customer information is protected from misuse. B The company can reduce the costs associated with data storage. The company can reduce the costs associated with data storage. C The company can reduce its need for data compression.
Answers
Answer:
The company can analyze the calling session data and thereby make better business decisions.
Explanation:
Feedback from the customer and a view of how the customer pictures a company is a very important tool used to change future decisions a business makes.
This will influence decisions that will make the company more competitive and satisfy it's customers.
In the given instance a benefit of storing the information from each calling session in a database is that information gleaned from such calls will guide management in making customer friendly policies in the future.
Beth needs to multiply the values of two cells in her worksheet. What should she enter into the formula bar?
=CD/D4
=CD+D4
=CD*D4
=(CD)(D4)
Answers
Answer:
C4*D4
must be the correct one but its not mentioned there
Answer:
I would say =(CD)(D4) it makes the most sense
Explanation:
in the long run group of answer choices all of the firm's costs are variable costs. all of the firm's costs are explicit costs; there are no implicit costs of production. the firm is more profitable than it is in the short run. the firm's fixed costs are greater than its fixed costs in the short run.
Answers
In the long run, all of the firm's costs are variable costs. In this case option A is correct
In the long run, a firm has more flexibility to adjust all of its inputs, including labor, capital, and technology, to optimize its production processes and minimize costs.
As a result, there are no fixed inputs or fixed costs in the long run. Therefore, all of the costs of production are variable costs that can be adjusted by the firm. In contrast, in the short run, at least one input is typically fixed, and some costs, such as rent or salaries, are considered fixed costs that cannot be easily adjusted.
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IS THE NEW HILTON POLICY WARRANTED? Headquartered in McLean, Virginia, Hilton Worldwide (and Marriott) on January 1, 2015, implemented a new policy that requires customers to notify the hotel the day before their scheduled arrival to avoid having to pay for the room. This policy reverses a long tradition of allowing customers to cancel their reservation up to 6pm the day of arrival without penalty. " Bob Gilbert, CEO of the Hospitality Sales and Marketing Association International, a hotel industry group, said of the Hilton move, "It's not surprising. The hotel business is one of the last places where you can hold inventory with no commitment. " Hotel demand in 2014–2015 has exceeded supply in many cities, giving hoteliers the upper hand. Another motivation for the new policy is that hoteliers desire to stifle the use of apps such as Yapta that track hotel prices and, whenever a rate dips, apparently a growing number of travelers rebook at a lower rate and cancel the costlier reservation, literally right up until check-in time. Penny-pinching travelers are increasingly using such tools, and Hilton is seeking to stifle this practice. Big rivals to Hilton (and Marriott) are staying the course, however, with traveler-friendly cancellation policies, including Starwood, Sheraton, Westin, Four Points, Intercontinental, Crowne Plaza, Hotel Indigo, Holiday Inn, and others. Some customers now say they will avoid making a reservation at all if they will be charged for a room they did not use when, for instance, their plane gets de- layed. Other customers say they will now simply use last-day booking services such as Hotel Tonight. Other customers say they will just book with Sheraton or Westin. Yet, Hilton says the industry needs to prevent the rapidly growing practice of travelers booking a hotel at the last minute after checking online for last-minute deals in the area. As discussed in this chapter, policies are often needed to effectively implement strategies.
1. Do you think the benefits will offset the costs of the new Hilton cancellation policy? Why?
2. Do you think the new Hilton cancellation policy is ethical? Is it legal? Is it practical?
3. What would be a more effective cancellation policy for Hilton?
4. How should a company such as Hilton decide on new policies?
Answers
The new Hilton cancellation policy has caused controversy within the industry, with some customers saying they will avoid booking with Hilton altogether. However, from the hotelier perspective, the policy is warranted due to the high demand for hotel rooms and the desire to prevent customers from using price-tracking apps to book cheaper rooms.
While the policy may result in lost revenue from customers who choose not to book with Hilton, it is likely that the benefits of the policy will outweigh the costs. The policy is ethical and legal, as customers are informed of the policy before booking and have the option to cancel before the day of arrival without penalty. However, a more effective cancellation policy for Hilton would be to allow customers to cancel up to 24 hours before their scheduled arrival. Hilton should decide on new policies by considering the needs and wants of their customers while also balancing their own business interests. Regular communication with customers and industry experts can also provide valuable insights when making policy decisions.
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What is the meaning of your mom.
Answers
Answer:
your is something you possess, mom is the woman who birthed you
Explanation:
Answer:
Your mom is an expression that is regularly trailed by an assertion making fun of somebody's mom. This consistently includes exaggerated articulations spinning around an individual characteristic that she could possibly have.
(I know this post was most likely a joke)
Which of the following is specifically characterized by the elimination of waste through a focus on exactly what the customer wants?
A) Just-in-time (JIT)
B) Toyota Production System (TPS)
C) Lean operations
D) Material requirements planning (MRP)
E) kanban
Answers
Lean operations is a systematic approach that focuses on eliminating waste and maximizing customer value through continuous improvement and streamlined processes.
C) Lean operations is specifically characterized by the elimination of waste through a focus on exactly what the customer wants.
Lean operations, also known as lean manufacturing or simply lean, is a systematic approach that aims to maximize customer value while minimizing waste in production processes.
It involves identifying and eliminating activities that do not add value to the final product or service, such as overproduction, waiting time, unnecessary transportation, excess inventory, and defects.
Lean operations strive to create a more efficient and customer-centric system by continuously improving processes and streamlining operations.
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How does decreasing your credit card balance affect your income statement? (1 point)
It increases your monthly expenses, increasing the amount you spend each month.
It increases your monthly expenses, giving you more money to spend on other things.
It decreases your monthly expenses, increasing the amount you spend each month.
It decreases your monthly expenses, giving you more money to spend on other things.
Answers
The way in which decreasing your credit card balance would affect your income statement is that: D. It decreases your monthly expenses, giving you more money to spend on other things.
What is a credit card?A credit card simply refers to a small, rectangular flat card that is issued by a financial institution to its eligible customers, in order to avail them an opportunity to purchase goods and services on credit, especially based on the agreement that this amount of money would be paid back at a specific time and interest rate.
Generally speaking, a credit card balance can be defined as the total amount of money that an individual owe his or her credit card company. This ultimately implies that, a decrease in credit card balance would cause a decrease in monthly expenses, which avails the credit card holder more money to spend on other things.
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Answer: 1. a loan from one entity electronically matched to another entity without a financial institution in the middle
2. a payday loan
3. an unsecured installment loan
4. It decreases your monthly expenses, giving you more money to spend on other things.
5. Determine or estimate the current value of everything you own.
6. Their ability to repay a loan
7. your prior record of paying your bills and paying off your debts
8. your age and gender
9. You can request one online or over the phone.
10. He should contact the credit bureau that issued the credit report, the companies that issued the seven fraudulent cards, his local police, and the federal government at identitytheft.gov.
11. -the lender that provided the incorrect information
-the credit bureau that prepared the report
12. right away
13. She won a $20 billion settlement for California homeowners whose homes were inappropriately foreclosed on.
14. The longer the term, the more you will pay in interest.
15. It will cost you less money overall.
16. A store credit card generally comes with a higher interest rate.
17. You will save money if you pay the balance off quickly.
18. -Clarifying the confusing language found on credit card applications.
-Forcing lending companies to disclose interest rates and hidden fees.
19. It banned credit card companies from raising interest rates after missed payments.
20. -a fixed annual charge for the use of a credit card
-a charge if the minimum payment is not paid by the due date
21. paying off the balance before interest can accrue
22. $30
23. Determine which card has the higher interest rate and pay the extra money to that card first.
Explanation: All these answers are correct!
how does cost-benefit analysis help make economic decisions?
Answers
Cost-benefit analysis (CBA) is a tool that helps make economic decisions by comparing the costs and benefits of a particular project or policy.
CBA helps to identify the net benefits of a project or policy by subtracting the costs from the benefits. This allows decision-makers to see whether the benefits of a project or policy outweigh the costs and whether it is worth investing in or implementing. By using CBA, decision-makers can make informed choices about how to allocate resources and can ensure that they are using them in the most efficient and effective way possible.
CBA is a quantitative tool that helps decision-makers to weigh the costs and benefits of different options, it also helps to identify potential trade-offs and helps to prioritize among alternative options. It is widely used by government agencies, private organizations, and international bodies to evaluate the impact of proposed projects and policies.
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Explain the difference between fixed costs and variable costs for firms, using Internet grocery shopping as an example.
Answers
Explanation:
Fixed cost is the cost that is constant for each unit of the item produced and does not depend upon the quantity of production. Fixed cost may include rent payment, insurance, interest payment.
whereas variable cost are cost that vary with quantity of output produced. It may include, labor cost, commissions, raw material, etc.
For Internet grocery shopping fixed cost can be cost of storing the grocery, insurance of inventory, electricity payment, cost of delivery to the customer, etc. whereas variable cost may be discount offered on quantity of purchase, Sale offers to attract customers, etc.
What does indigenous technology mean?
Answers
Answer: I hope this is helpful mark brainlist if right then no if wrong
Explanation:
Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.Technologies employed by the native inhabitants of a country and which constitute an important part of its cultural heritage and should therefore be protected against exploitation by industrialized countries; the problem of indigenous knowledge has been discussed during the Rio Conference but it does not receive much ...Types of indigenous technology in India are; (i) Generic Drugs. (ii) Thorium based Nuclear Reactors. (iii) Plastic RoadsIndigenous Technology is created within a sensory environment that builds on our sense of relationship, meaning, balance, feeling, memory and place as well as sight, sound, smell, taste and touchIndigenization is the process by which Indigenous ways of knowing, being, doing and relating are incorporated into educational, organizational, cultural and social structures of the institution.One example of Indigenous Technologies in action today can be witnessed in differential approaches to medicine. Medical technologies in the Western Scientific sense of the term might conjure images of biomedical research labs, electromagnetic monitors or imaging systems such as CT or MRI scans.Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.
Need help ASAP.
What are 5 relevant ideas from the above link That
will help you grow your Business and How would you use them. Be Specific!
1-) https://bombbomb.com/blog/business-relationships-quiz-how-many-of-your-contacts-pass-this-test/
Answers
The relevant ideas are:
Building strong business relationships: Building strong relationships with clients, partners and employees can help grow your business by creating a positive reputation, fostering trust and encouraging repeat business. Personalization: Personalizing your interactions with clients and customers can help build rapport and increase customer loyalty, leading to repeat business and growth.What is the Business ideas about?Other ideas are:
Consistency in Communication: Maintaining consistent communication with clients and partners can help build trust and credibility, leading to increased business opportunities and growth. Providing Exceptional Service: Providing exceptional service to clients and customers can help differentiate your business from competitors and create a positive reputation, leading to increased business and growth.Lastly, Continuously Improving: Continuously improving your products, services and processes can help attract new clients, retain existing ones and stay ahead of the competition, leading to sustainable growth for your business.
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You own a construction business and need to hire workers to build a house and add one worker at a time to the added contribution of each worker. At what point will you stop hiring workers ? Relate this process to the three stages of production function as you explain your answer .
Answers
In the long run, all inputs are variable, so the marginal product of labor will continue to decline as more workers are added. Eventually, the marginal cost of hiring additional workers will exceed the marginal benefit, and it will no longer be profitable to hire more workers.
In the context of a construction business, you would likely stop hiring workers when the marginal product of labor begins to decline, or when the marginal cost of hiring additional workers exceeds the marginal benefit. This decision would be based on your analysis of the costs and benefits of hiring more workers, and your assessment of the efficiency and productivity of your construction process
magnificent modems, incorporated, makes modem cards that are used in notebook computers. the company completed the following transactions during year 1. all purchases and sales were made with cash. acquired $750,000 of cash from the owners. purchased $270,000 of manufacturing equipment. the equipment has a $30,000 salvage value and a four-year useful life. the company started and completed 5,000 modems. direct materials purchased and used amounted to $40 per unit. direct labor costs amounted to $25 per unit. the cost of manufacturing supplies amounted to $4 per unit. the company paid $50,000 to rent the manufacturing facility. magnificent sold all 5,000 units at a cash price of $120 per unit. (hint: it will be necessary to determine the manufacturing costs in order to record the cost of goods sold.) the sales staff was paid a $6 per unit sales commission. paid $39,000 to purchase equipment for administrative offices. the equipment was expected to have a $3,000 salvage value and a three-year useful life. administrative expenses consisting of office rental and salaries amounted to $71,950. required a. record the transaction data for magnificent modems, incorporated, in the financial statements. the first transaction is recorded as an example. b-1. prepare an income statement. b-2. prepare a balance sheet.
Answers
Income Statement:
Sales Revenue: $600,000
Cost of Goods Sold: $315,000
Gross Profit: $285,000
Selling and Administrative Expenses: $139,950
Net Operating Income: $145,050
What is income statement and balance sheet for b-1 and b-2?
Transaction Data:
Cash from owners: $750,000
Debit: Cash, $750,000
Credit: Capital, $750,000
Purchase of manufacturing equipment: $270,000
Debit: Manufacturing Equipment, $270,000
Credit: Cash, $270,000
Cost of Direct Materials: $200,000 (5,000 units x $40/unit)
Debit: Raw Materials Inventory, $200,000
Credit: Cash, $200,000
Cost of Direct Labor: $125,000 (5,000 units x $25/unit)
Debit: Wages Expense, $125,000
Credit: Cash, $125,000
Cost of Manufacturing Supplies: $20,000 (5,000 units x $4/unit)
Debit: Manufacturing Supplies Expense, $20,000
Credit: Cash, $20,000
Rent Expense: $50,000
Debit: Rent Expense, $50,000
Credit: Cash, $50,000
Cost of Goods Sold: $315,000 (5,000 units x $63/unit)
Debit: Cost of Goods Sold, $315,000
Credit: Raw Materials Inventory, $200,000
Credit: Wages Expense, $125,000
Sales Revenue: $600,000 (5,000 units x $120/unit)
Debit: Sales Revenue, $600,000
Credit: Cash, $600,000
Sales Commission Expense: $30,000 (5,000 units x $6/unit)
Debit: Sales Commission Expense, $30,000
Credit: Cash, $30,000
Purchase of Administrative Equipment: $39,000
Debit: Administrative Equipment, $39,000
Credit: Cash, $39,000
Administrative Expenses: $71,950
Debit: Administrative Expenses, $71,950
Credit: Cash, $71,950
B-1. Income Statement:
Sales Revenue: $600,000
Cost of Goods Sold: $315,000
Gross Profit: $285,000
Selling and Administrative Expenses: $139,950
Net Operating Income: $145,050
B-2. Balance Sheet:
Assets:
Cash: $750,000
Raw Materials Inventory: $200,000
Manufacturing Equipment: $270,000
Accumulated Depreciation: $30,000
Administrative Equipment: $39,000
Total Assets: $1,289,000
Liabilities and Equity:
Capital: $750,000
Retained Earnings: $539,050
Total Liabilities and Equity: $1,289,000
It's worth mentioning that Depreciation expense is not recorded in the transactions listed above, but it should be recorded in the Income statement as an Operating expense, and Accumulated Depreciation should be recorded in the balance sheet as a contra-asset account.
The contribution format income statement is more useful to managers in estimating how net operating income will change in response to changes in unit sales.
It shows the contribution margin which is the difference between sales and variable costs, and it helps managers to make better decisions on how to increase net operating income by analyzing how changes in sales, variable costs, and fixed costs will.
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Question 10 of 10
Which type of transaction may either be added or subtracted while adjusting
a bank balance?
O A. outstanding checks
O B. bank errors
O C. deposits in transit
OD. interest earned
SUBMIT
Answers
Deposits in transit are added or subtracted while adjusting a bank balance.
What are deposits in transit?Money that has been received by a business and registered in the business's accounting system is referred to as a deposit in transit. Although the deposit has already been delivered to the bank, it hasn't yet been processed and credited to the account. Even though it could take the bank several days to process the deposit and post it to the bank balance, in financial accounting, these monies are shown in the company's cash balance on the day the deposit is received. Any check or draft issued by a facility other than the bank where it is to be deposited is referred to as a transit item. Transit goods and internal transactions involving cheques made by a bank's own clients are kept apart. Transit goods are presented directly to the drawee's bank or through a nearby clearing house. However, as a matter of policy, many banks make monies from deposited transit goods accessible the following business day after the deposits or two business days later. This is feasible because clearing transit goods more quickly allows for electronic check conversion and other types of electronic bank draft conversion.
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Evidence indicates the climate in an area influences labor supply. As an illustration, assume the following labor supply function:
QS = -200+ 200W-50R
where
QS = quantity of labor supplied
W = wage rate
R = average rainfall per month
The demand for labor is given by:
QD = 1500-100W
where
QD = quantity of labor demanded
a) Do wet areas (ones with large amounts of rain) have higher or lower wages than dry areas? (Explain using equations or a graph).
b) What will be the employment level in Reigns, Rhode Island (a city with an average rainfall of 2 inches per minth)?
c) What would the unemployment rate in Reigns be if the minimum wage were $8 per hour?
Answers
Yes, wetter locations with more rainfall will have higher earnings than dry areas.
Temperature can impact worker output via a variety of routes. On really hot days, people may be more prone to miss work. They may also be less productive at work due to heat stress. Temperatures, both immediate and delayed, may be important. On average, coastal locations receive more rainfall than inland areas. The reason for this is that the sea has a high evaporation rate, thus when the wind blows from sea to land (sea brezzes), it carries moisture with it.
When these moist air masses make landfall in areas where there are hills closer to the shore, they generate rainfall. It usually happens every day, resulting in a lot of rain each year. Because strong winds take a long time to reach the interiors, this phenomena generates greater rainfall in coastal areas. However, this does not applicable to all parts of the world.
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