Answer:
a. 1.1616
Explanation:
For computing the variance, first we have to determine the mean which is shown below:
Mean = Number of Days × Absent Probability
= 0 × 0.60 + 1 × 0.20 + 2 × 0.12 + 3 × 0.04 + 4 × 0.04
= 0 + 0.20 + 0.24 + 0.12 + 0.16
= 0.72
Now the variance equal to
= (Number of Days Absent - Mean) ^2 × Probability
So,
= (0 - 0.72)^2 × 0.60 +(1 - 0.72)^2 × 0.20 +(2 - 0.72)^2 × 0.12 +(3 - 0.72)^2 × 0.04 + (4 - 0.72)^2 × 0.04
= 1.1616
Any of the methods is an attempt to arrive at a profit
maximizing price. This likely occurs when there is a producing quantity in
regards of the output in which there is an equality with both of the marginal
revenue and the marginal costs.
Answer:
C
Explanation:
Performance management strategy goal or purpose is to provide a system through which better results can be obtained from the organization, teams, and individuals by having an understanding of how to manage performance within an agreed framework of planned goals, standards, and competence requirements.
It also aims aims at building a high performance environment for both the individuals and the teams so that they jointly take the responsibility of improving the business systems on a continuous basis and at the same time upgrading their own skills within a leadership framework. Its purpose is to enable goal clarity to makeď people do the right things in the right time. The main objective of a performance management system is to achieve the capacity of the employees to the full potential in favor of both the employee and the organization, by making a clear distinction of roles, responsibilities and accountabilities, required competencies and the expected behavior
The relationship between cost, revenue and profit can be presented using the formula:
Profit = Revenue - Cost
However, in the table given, the number of bikes produces varies. We cannot properly compare the profits per day. To be consistent, let us determine the profit per unit of bike produced. Simply divide the profit with the number of bikes produced (1st column). After you see the results, we can see that the highest profit is $17.5 per unit of bike produced. Therefore, the maximum profit can be attained when 4 bikes are produced each day.
Answer:
Capacity utilization rate in October is 63.75%
Explanation:
Units produced in October = 18170
Units production in most efficient way = 28500
Capacity utilization rate in October = 18170 / 28500 = 0.6375
In percentage, it is 63.75%
