Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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To calculate Customer Lifetime Value percisely requires precise numbers that are often only available to larger firms with large customers and large datasets. Is it necessary to calculate CLV percisely? Explain.
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- Read the images below and asnwer the questions: 6- What is the maximum amount they should be willing to pay for procuring each pound of this ingredient? 7- If the vendor of Oats increases the per pound price by $0.75, would you recommend the company reduce the use of Oats in making the mix in order to minimize their cost? Group of answer choices a- Yes b- No c- Not enough information to answer the question 8- If the vendor of Soybean increases the per pound price by $0.75, would you recommend the company reduce the use of Soybean in making the mix in order to minimize their cost? Group of answer choices a- Yes b- No c- Not enough information to answer the question 9- If the vendor of Oats offers to supply you Oats for Free(!), would/could you possibly increase the amount of Oats you use to make the mix in order to reduce the cost of the mix? Group of answer choices a- Yes b- No c- Not enough information to answer the question 10- If the Vitamin becomes…arrow_forwardIn the context of data warehousing, what does the phrase "Hybrid Approach" mean?arrow_forward
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