Answer:
A) change in the cost of eating index = <u>20% increase</u>
B) Suppose that consumers are completely indifferent between two chickens and one ham. For this example, how large is the substitution bias in the official "cost-of-eating" index?
The <u>INCREASE</u> in the cost-of-eating index is <u>18</u> %.
The <u>OVERESTIMATE</u> of inflation in the cost of eating reflects substitution bias.
Explanation:
2015
product units unit cost total
chickens 30 $4 $120
hams 10 $5 $50
<u>steaks 10 $8 $80</u>
total $250
2016
product units unit cost total
chickens 30 $5 $150
hams 10 $7 $70
<u>steaks 10 $8 $80</u>
total $300
A) ($300 - $250) / $250 = 20%
B)
if consumers are indifferent for 2 chickens per 1 ham, then the new basket should be assuming consumers will purchase the cheapest option:
2016
product units unit cost total
hams 25 $7 $175
<u>steaks 10 $8 $80</u>
total $255
the increase in inflation would have been = ($255 - $250) / $250 = 2%
the substitution bias = reported inflation - real inflation = 20% - 2% = 18%
The ability of an organization to produce services that, by utilizing the consumer's five senses, have some uniqueness in their characteristics is experience differentiation.
Explanation:
Experience-based differentiation (EBD) which we describe as: a continuously loyalty-building systematic response to customer interaction. Don't linger on the word too much.
Organisations must pursue a multi-year path to achieve with EBD. This is why organisations will make this is one of every top business initiatives. In the financial sector, education and travel sectors we foresee EBD to make rapid progress.
WACOAL DIA, a luxury brand of WACOAL, is an example of marketing by which expertise in the procurement process has been improved.
If a developmental team is having trouble delving a working increment because they don't understand a functional requirement, they should work with the product owner so that can get better clarification on how the product works. If the developmental team continues to have problems, it is likely the result of the product that has functional issues.
Answer:
Poor
Explanation:
Automation has made certain jobs redundant and machines can now carry out most of the functions usually carried out by labour. As a result, the prospects for many types of jobs is low
Answer:
A key performance indicator of the customer perspective in a balanced scorecard is option C. number of repeat customers
Explanation:
A Key Performance Indicator (KPI) is a measurable value used to demonstrate how effectively a company is achieving key business objectives.
Organizations use KPIs to analyze their success rate.
The customer perspective within the balanced score card enables organizations to target the market segments to prioritize. Once they have done that, they focus developing strategies that maximizes customers’ utility and bring sin good profit to the organization.
Before now, Balanced Scorecard tilted towards product performance and technology innovation to be the backbones of business success. However, customer behavioral trends have gradually emphasized the necessity for understanding what customers need.
Therefore the number of repeat customers is a KPI of the customer perspective in a balanced score card.