IE181 Quiz 1 – Model Formulation Formulate the following problems. 1. A trade magazine reports the rated exposure (people/month/peso advertising outlay) for each of five media: TV‚ radio‚ magazines‚ newspapers and outdoor advertising as 22‚ 12‚ 15‚ 10 and 5‚ respectively. The advertising company wants to develop an optimal media mix restricted to the following conditions: a. The total advertising budget is P1 million. b. No more than 50% of the budget is to be expended
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chairs the Ozark Furniture Company can make. We will also plot the inequalities of this on a graph. Here is the information and first set of problems for the text: Maple rockers. Ozark Furniture Company can obtain at most 3000 board feet of maple lumber for making its classic and modern maple rocking chairs. A classic maple rocker requires 15 board feet of maple‚ and a modern rocker requires 12 board feet of maple. Write an inequality that limits the possible number of maple rockers of each type
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for Immigrants‚ and Middle/Lower Class Americans. Different resources were used to build automobiles like steel‚ iron‚ rubber‚ and wood. Steel and iron were obtained from different mining companies and used for different parts. Wood was received by lumber companies but later used for the tire and some of the frame. Rubber was also made
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1 LITI Task 1 Business Organizations Sole Proprietorship A sole proprietorship is owned by one person that runs the business. No formalities are necessary since the business is not owned by anyone else. There are some advantages and disadvantages of owning a sole proprietorship. One advantage is that the business can be closed down at any time and any financial obligations can be paid off. Another advantage is that the business has no boss‚ partner‚ or board of directors to answer to. One
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The board of directors is responsible for directing all of the significant activities of the entity including the approval of operating budgets‚ marketing and sales plans‚ capital requirements‚ and distribution channels. Each partner has an equal vote on all matters involving the venture and equal representation on the board of directors. The board of directors has four positions; Banana designates two‚ while Berry designates the other two. In the event that the two parties cannot reach an agreement
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the top left corner‚ the keeper dives and deflects the ball above the crossbar. Cause and effect: Lately Billy has been working full time‚ and going to school. He works at the lumber mill making furniture. It’s hard work‚ but Billy needs the job to support his mother and sister. Because of all his hard work at the lumber mill he hasn’t been able to focus on school. Due to his lack of focus he is failing. This is his last chance at school. If he fails out its all over. Order of importance: John
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An LLC is a relatively new form of business organization whose goal is to operate and be taxed like a partnership but retain limited liability for owners‚ thus a combination of partnership and corporation. If changing the company organization from a sole proprietorship to an LLC‚ the advantages are as follows. Since an LLC is functioned as a partnership‚ the funds raised from other partners will enlarge the scale of the company and relieve the cash flow and capacity problems and enrich its asset
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statute applies (Points : 2) only to matters not covered by state law. only to those states that adopt the statute. to all of the states. to none of the states. 5. Eastside Warehouse offers to sell a forklift to Forest Lumber Company‚ but it is stolen before Forest accepts. Eastside must obtain (Points : 2) a forklift for Forest‚ if Eastside ’s insurance covers the loss. a forklift for Forest‚ if it wants one. nothing for Forest‚ because that would
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forward with the business. There are many different factors that have to be considered when making this decision. The most similar type of business is the partnership‚ sole proprietorship‚ S corporation‚ and corporation. A Limited Liability Company (LLC) is a new business structure allowed by state statute. When establishing a new business‚ limited liability corporations and partnerships play a huge role. Limited Liability Corporations Limited liability corporation or company is a “relatively
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The Strategic Move of Crocs‚ Inc. By Jennifer von Briesen‚ Founder & Principal‚ Frontier Strategy‚ LLC Crocs‚ Inc. Overview Crocs‚ Inc. is a U.S. based shoe designer‚ manufacturer‚ and retailer that launched its business in 2002 selling Crocs™ brand casual plastic clogs with straps in a variety of solid‚ bright colors. Love them or hate them‚ the tremendous popularity of Crocs™ shoes is an undeniable business success story. Crocs’ bold strategic move allowed it to break out of the red ocean
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