The correct answer is simulation training.
Simulation taining is being defined as having to exercise or
train the skills of individuals with the use of basic equipment or rather a
computer software by means of modelling a real world scenario that the
individual is training.
Given the table below describing the total and marginal benefit Elvis
gets from fried peanut butter and banana sandwiches.
![\begin{tabular} {|p {3.5cm}|p {2.0cm}|p {2.6cm}|} \multicolumn {3} {|c|} {Elvis' Fried Peanut Butter and Banana Sandwich Benefit}\\[2ex] Fried PBB Sandwiches&Total Benefit (dollars)&Marginal Benefit (dollars)\\[1ex] 1&&42\\ 2&&24\\ 3&75&\\ 4&81&\\ 5&&-3 \end{tabular}](https://tex.z-dn.net/?f=%5Cbegin%7Btabular%7D%0A%7B%7Cp%20%7B3.5cm%7D%7Cp%20%7B2.0cm%7D%7Cp%20%7B2.6cm%7D%7C%7D%0A%5Cmulticolumn%20%7B3%7D%20%7B%7Cc%7C%7D%20%7BElvis%27%20Fried%20Peanut%20Butter%20and%20Banana%20Sandwich%20Benefit%7D%5C%5C%5B2ex%5D%0AFried%20PBB%20Sandwiches%26Total%20Benefit%20%28dollars%29%26Marginal%20Benefit%20%28dollars%29%5C%5C%5B1ex%5D%0A1%26%2642%5C%5C%0A2%26%2624%5C%5C%0A3%2675%26%5C%5C%20%09%0A4%2681%26%5C%5C%20%09%0A5%26%26-3%0A%5Cend%7Btabular%7D)
<span>The marginal benefit of the 4th fried peanut butter and banana sandwich is given by $81 - $75 = $6.</span>
Answer:
a) Augmented product: Previous Sabre models have won high praise from the automotive industry, and all 500 units of past vehicles have sold within weeks of announcement
b) Promised product: Sabre provides each potential customer with a list of customizable features that can be added during the manufacturing process.
c) Tangible product: Sabre designs and manufactures each automobile in-house; it makes every part of the car, from the tires to the brakes to the transmission to the metallic paint. Sabre employees make each car by hand.
d) Core product: Sabre is a performance automobile manufacturer headquartered in Ulster, Ireland. It has been in business for eighteen years and has brought twenty performance-oriented automobiles to market during this time.
Explanation:
a) The augmented product is defined as one that is capable of exceeding consumer expectations. In this case, the cars were sold very fast since customers were met with their expectations regarding the product offered.
b) In this case, Saber is able to customize each car with a series of additional features that offer the user so that he is able to have his own car as he would like
c) Tangible products are defined as goods or services that are manufactured, dispatched and delivered, that is, in this case, cars
d) Saber's main product is the manufacture of high performance cars. That is its main product and its strength in the business
Opportunity cost is the loss due to forgoing one opportunity to select another one alternative.
In this case, the forgone alternative is the full-time employment and other expenses for the term when the alternative chosen is to be in school. In this case, room and board expenses remain the same whether in school or working full time and thus not considered. The part-time amount earned while at school is subtracted as it would be compensated be during full time employment.
Therefore;
Opportunity cost = $20,000+$10,000+$1,000-$8,000 = $23,000
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