extra worker makes more units than the employees were making on average before he or she joined‚ the average output per worker will rise‚ e.g. if three workers make 9 units in total and the fourth adds another 7‚ the average will rise from 3 units each to 4 units each. If the extra worker makes fewer extra units the average will fall‚ e.g. three workers make 9 units in total(on average 3 each) and the fourth add only 1 unit‚ the average 10 divided by 4‚i.e. 2.5 units each. Marginal cost (MC) is
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A.1.a. Average materials cost per unit Probability distribution of material cost per unit Material Cost Probability Cumulative Probability Material cost per probability 33 0.04 0.00-0.04 1.32 35 0.05 0.04-0.09 1.75 38 0.12 0.09-0.21 4.56 39 0.79 0.21-1.00 30.81 Total 1.00 38.44 Average material cost per unit = (33*0.04) + (35*0.05) + (38*0.12) + (39*0.79) = $38.44 Simulation results A.1.b. Average labor cost per unit
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“I Just Wanna Be Average” by Mike Rose is an excerpt from his book Lives on the Boundary about his time in Our Lady Mercy High School’s education system. He went into Vocational education because of a mix-up in his tests with another student. With this mix-up and teachers who would not put in the effort to help him succeed occurring‚ Rose lost all motivation in studying in his classes. Rose finally found a teacher who cared about his success in school and helped Rose get back into regular college-prep
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Chapter 04 Demand 10. The long-run price elasticity of demand for a product is generally _________ the short-run elasticity for the same product. A. lower than B. equal to C. higher than D. not comparable to 11. Assume the demand function for skin care products is given by Q = 1‚000 – 20 P + 5I. If P=$25 and I=$1‚000 currently‚ then: A. skin care products are a normal good. B. the elasticity of demand is equal to 11. C. skin care products are inferior. D. The price is too high
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refrigerator or television set. Question 3. Analyse the method by which a firm can allocate the given advertising budget between different media of advertisement. Question 4. What kind of relationship would you postulate between short-run and long-run average cost curves when these are not Ushaped as suggested by the modern theories? Question 5. How do demand forecasting methods for new products vary from those for established products? Assignment - B Question 1. What are the different methods of
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congestion at the boat-launching ramp near Mansfield Dam. On weekends‚ the arrival rate averages 5 boaters per hour‚ Poisson distributed. The average time to launch or retrieve a boat is 10 minutes‚ with negative exponential distribution. Assume that only one boat can be launched or retrieved at a time. a.) The LCRA plans to add another ramp when the average turnaround time exceeds 90 minutes. At what average arrival rate per hour should the LCRA begin to consider adding another ramp? b.) If there
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PERENCANAAN & PENGENDALIAN PRODUKSI TIN 4113 Pertemuan 2 • Outline: – – – – – Karakteristik Peramalan Cakupan Peramalan Klasifikasi Peramalan Metode Forecast: Time Series Simple Time Series Models: • Moving Average (Simple & Weighted) • Referensi: – Smith‚ Spencer B.‚ Computer Based Production and Inventory Control‚ Prentice-Hall‚ 1989. – Tersine‚ Richard J.‚ Principles of Inventory and Materials Management‚ Prentice-Hall‚ 1994. – Pujawan‚ Demand Forecasting Lecture Note‚ IE-ITS‚ 2011
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periods into the forecast and “smoothes” the data. Averaging models are computed by averaging data from several time periods and using the average as the forecast for the next time period. A moving average is an average that is updated or recomputed for every new time period being considered. The most recent information is utilized in each new moving average. This advantage is offset by the disadvantages that (1) it is difficult to choose
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assessed by looking at changes in average costs at each stage of production. How does a firm expand? A firm can increase its scale of operations in two ways. Internal growth‚ also called organic growth External growth‚ also called integration - by merging with other firms‚ or by acquiring other firms By growing‚ a firm can expect to reduce its average costs and become more competitive. Long run costs The firm’s long run average cost shows what is happening to average cost when the firm expands‚
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Lisa Brown Hsm/ 260 Week 5 – Forecasting Checkpoint 3/8/13 Exercise 9.1 20X1 $5‚250‚000 20X2 $5‚500‚000 20X3 $6‚000‚000 20X4 $6‚750‚000 Moving Averages 20X2-X4 $18‚250‚000 / 3 = $6‚083‚333 Weighted Moving Averages Fiscal Year Expenses Weight Weighted Score 20X2 $5‚500‚000 1 $5‚500‚000 20X3 $6‚000‚000 2 $12‚000‚000 20X4 $6‚750‚000 3 $20‚250‚000 __ ___________ 6 $37‚750‚000 20X5 $37‚750‚000 /6 = $6‚291‚667 Exponential Smoothing NF = $6‚300‚000
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