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- Betty, the chief of nursing executive, need to make a decision about buying 340 new hospital beds for patient rooms. After she interviewed nurse managers at the units where the beds were going to be placed, Betty compiled her findings and decided to contact a well-known equipment company to obtain prices and a bid. No bids from other companies were obtained. The equipment company’s executive salesperson, Jim, discussed options at length with her and invited her and her significant other to an upcoming all-expense-paid, lavish junket at a five-star hotel in Hawaii to see demonstrations of the beds and experience a comprehensive sales program. Betty thought, “We badly need some relaxations and stress relief. Hawaii would be so much fun. Would it be wrong for us to go? If you were Betty, what would you do? Justify your answer with ethical framework: theory, approach or principle. Discuss the ethical principles at stake. What breaches are possible? Do you consider this situation a conflict…Can you please answer a and b to this question48- The maximum number of sales that can occur in a given period to an individual or businesses that are willing to sell in a given market is known as: a. Product demand b. Market potential c. Market demand d. All the options are correct
- Paul is the owner of a sport store that specialises in extreme sports such as paragliding and wakeboarding. To entice customers to spend more he has recently launched store credit, subject to approval. Which one of the following is a cost of granting credit that Paul must be aware of? Select one: a. Loss of interest b. Insurance cost c. The loss of customer goodwill d. Loss of flexibility1. How will the price we offer to a group buyer today affect his or her decision to buy from us in the future? 2. If the price is accepted by the group, what impact will that have on the number of room reservation requests for that same night that we will likely be required to refuse to individual buyers because all our rooms have been sold?Assume Clinique expects to sell 3 million ounces of BB cream within the first year after introduction butexpects that half of those sales will come from buyers who would otherwise purchase Clinique’s moisturizer (that is, cannibalized sales). Assuming that Cliniquenormally sells 10 million ounces of moisturizer per year and that the company will incur an increase in fixed costs of $2 million during the first year of production for the BB cream, will the new product be profitable for the company? Refer to the discussion of cannibalization in Appendix 3: Marketing by the Numbers for an explanation of how to conduct this analysis. (AACSB: Written and Oral Communication; Analytical Thinking)
- Elana is purchasing a property in Florida. After she closes, she will have fee simple ownership of 1/26 of the unit, and the ability to use the property for two weeks a year. What kind of property is she most likely purchasing? condo co-op duplex timeshare(d) The company only has 4 workstations available. If it only operates its 4stations, how many weeks does it need to meet the production requirements?(e) The company has other contracts it needs to satisfy. Working on themugs more than 4 weeks means it will have to cancel another contract,incurring a penalty of $4,500. Each new workstation costs the company$2,500. What should the company do: cancel the contract or buy therequired workstations?b. A company is trying to decide whether to bid for a certain contract or not. They estimate that merely preparing the bid will cost R10 000. If their company bid then they estimate that there is a 50% chance that their bid will be put on the "short-list", otherwise their bid will be rejected. Once "short-listed" the company will have to supply further detailed information (entailing costs estimated at R5 000). After this stage their bid will either be accepted or rejected. The company estimates that the labour and material costs associated with the contract are R127 000. They are considering three possible bid prices, namely R155 000, R170 000 and R190 000. They estimate that the probability of these bids being accepted (once they have been short-listed) is 0.90, 0.75 and 0.35 respectively. The immediate question facing the company is whether or not to prepare a bid. Draw a decision tree for the above decision situation. Show each decision point and each chance event. Insert all…
- Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her supplier in Mexico. Although Valentine’s Day is fast approaching, sales are almost entirely last-minute, impulse purchases. Advance sales are so small that Weiss has no way to estimate the probability of low (25 dozen), medium (60 dozen), or high (130 dozen) demand for red roses on the big day. She buys roses for $15 per dozen and sells them for $40 per dozen. Construct a payoff table. Which decision is indicated by each of the following decision criteria?a. Maximinb. Maximaxc. Laplaced. Minimax regretAssume that the payoff table provides cost rather than profit payoffs. What isthe recommended decision using:i. the optimistic approachii. the conservative approachiii. the minimax regret approachiv. the Laplace methodThe promotional group is planning to launch a new promotional campaign in an attempt to attract customers from an area of the community that your store does not currently attract customers. This plan will reach 5,000 holds. The plan calls for spending $250,000 on the campaign. From the initial promotion, the expectation is to obtain an initial margin of $15.00 from each new customer in the store. They have also estimated that each customer will provide a lifetime value of $500. Question 1: Since your company uses door count to determine the effectiveness of the campaign, how many additional customers will the program need to draw from the community to achieve the BAR?