The _____ of a region or community is simply the major source of income for the area. 5 & 1,250 & 181 & 15 & 2,000 & 245 \\ T/F, Internet ventures have unique metrics because they typically start with three types of "customers": visitors, contributors, and. d. They are not followed long enough to achieve the desired results. Simple random sampling is a form of _______ sampling. WebWhat is Six Sigma? Demand analysis is a tool used when determining which component of the four Ps? StaffRight is a(n), To ensure compliance with IRS regulations while hiring independent contractors, an entrepreneur should do all of the following EXCEPT. The best way for the U.S. to learn about consumer behavior in China would be to _______. $2,500,000 / $250,000 = 10 or 10%. The methods that governments use to support farmers vary, but they almost always involve some or all the following methods EXCEPT. WebINDIRECT COSTS Indirect Pools and the Rate Structure Each indirect pool encompasses Expense accounts, which benefit the company as a whole not specifically one project. One hundred percent inspection means that. a framework to relate the market segments of potential buyers to products offered or potential marketing actions. _____ is a strategy in which a company starts with a high price to capture uniqueness and competitive advantage, and then drops the price as competitors enter the market in order to stay ahead of competition. offering money to competitors' employees in exchange for information. The above figure shows the domestic market for wheat. Which of the following best describes the benefits of observation as a data collection technique? ABC manufacturing wants to understand their business needs better, to do this they must first know who, Supply management is concerned with the _______ proposition of specific needs, Besides the dollar value, items are considered strategic if, Reviewing corporate need under a financial examination allows supply managers to help. there will be neither a shortage nor a surplus of the good. Launch objectives are the key goals for a marketing campaign. Identifying all the tasks in the production process makes it easier to determine what equipment and supplies are needed for completing the tasks. Find a value of $x$, call it $x_0$, such that, $P\left(x_0 \leq x<\mu\right)=.45$. Which of the following are problems associated with quantitative data? Entrepreneurs should keep in mind that the purpose for doing a(n) _____ is to sell the business. Which of the following is a criterion used for selecting a target market? T/F. Which of the following approaches to avoiding ethical issues is best represented by the statement, "Everyone needs to look out for him- or herself. Often quality assurance is responsible for inspection of materials at receiving, in-process, and with the ______ product. It incurred a total, 3) Serile Pharma places 900 units in production during the month of January. Changes in the prototype can be made early in the process when changes are less costly. Which system is designed to have components, materials, and services arrive at work centers exactly as needed? Ben is testing the ___________ of his survey. By Tony Jacowski | Submitted On May 11, 2011. Division A reports the following data: sales = $180,000; income = $18,000; average assets = $72,000. _______ is a form of research that estimates how much of a product will sell over a given period of time. A rent ceiling controls the rent portion of the cost of housing but not the search cost. Simply juice or fairlife milk, 2/$6 Back to Content . the price they pay for goods they resell. An entrepreneur should strive to effectively "pitch" the essence of his or her business in. assign costs and expenses to the managers responsible for controlling them. ), Employee satisfaction Using a stock-vesting agreement is one way to make sure that only stock that has been earned will be distributed. Dating back to Charles Darwin's work on evolution, it has long been understood that facial expressions are universally linked to emotions. A discipline combining science, statistics, and computer coding to make predictions based on patterns in data is called __________ ____________. Job W, which is still in process at year-end, shows charges of 2,500 for DM and Fixed-period models attempt to determine the ________ order period. Profit margin is: Fill in the blank question. When a rent ceiling is ________, consumer surplus and producer surplus shrink, a deadweight loss ________, and resources are lost in search activity and evading the rent ceiling law. To keep the price at this level, the government will ________ million tons of wheat. they can encourage managers to focus too heavily on short-term financial goals. It has been said that for every $1 of direct costs, there is an additional $4 in indirect costs. Another name for the plan development stage of marketing research is _______. A flaw that results in loss of consumers or a lower customer satisfaction level is a. What are the two steps to the acquisition process when determining commercial equivalents? \bar{x}_1=25.7 & \bar{x}_2=30.6 \\ Total expenses allocated to operating departments. $$ T/F, Many ventures start as _____ where the owners are considered "members" and "managers. For repetitive purchases contract length is influenced by. The result is ________ price and ________ farm production in the developing economies. What software facilitates the flow of information across the functional boundaries of an organization effectively? If Department A uses 2,000 square feet of space, the amount of rent allocated to the department will be $. Therefore, companies should consider using measures to help evaluate manager performance. false: Employees often lose pride in their work or the incentive for continuous improvement. 9 & 1,000 & 135 & 19 & 1,250 & 151 \\ Prince Sports has adopted social media marketing in its promotion strategy because social media like Facebook has a significant impact among younger customers. It has been reported that _____ percent of a company's business comes from current customers and of those customers, _____ percent will be the source of most of the company's profits. Companies who conduct research based on the questions who, what, when, where, and how are conducting _________ research. 3.Allocate service department expenses to operating departments. With _____, a series of goals are set by a company with input from an employee, and as the employee reaches each goal, the bonus is given. If a company is concerned with how much inventory to stock within its' distribution network, it is focusing on the _______ aspect of the four Ps. Value proposition describes how will improve customer success and allow the organization to do better. and more. The black market for gasoline is ________ market in which the price ________ ceiling price. Listen to the complete question. pay extra attention to any special needs. Overhead is allocated to each project as a percentage of media purchases. Which of the following types of board member would be needed for a business in the maturity stage? A company uses statistical techniques and algorithms based on consumers' past buying behavior to predict what those consumers may buy in the future. Which of the following are reasons that previously make or buy decisions can be reversed? Heat maps and bee swarms are associated with which neuromarketing technique? quartile of an array named XData. T/F, All of the following are adopter groups EXCEPT. The Family and Medical Leave Act provides for up to 12 weeks of paid leave for employees who are dealing with family issues. Journalize the summary entry to record each of the following for the month: WebEntrepreneurs need to remember that _____ costs are the biggest costs a business will bear because of all the associated taxes and any benefits offered. (a) Explain the method of medians for calculating quartiles. Standardize and apply improvement to other parts of the organization. \end{array} Today, most investors want to see a well-written _____ that tells a compelling story and grabs their interest. A responsibility accounting system provides: (Check all that apply. Entrepreneurs need to remember that _____ costs are the biggest costs a business will bear because of all the associated taxes and any benefits offered. Which of the following describes both the growth in information that inundates businesses each day and the complex tools used to analyze the data and derive meaningful insights? MRP systems give organizations the ability of. The _____ represents how a startup uses its cash to cover its overhead before it generates a positive cash flow from operations. 8) Job-costing systems separate costs into cost categories according to when costs are introduced into the, 9) The principal difference between process costing and job costing is that in job costing an averaging, 10) If manufacturing labor costs are added to the process at a different time compared to other conversion, 11) Estimating the degree of completion for the calculation of equivalent units is usually easier for, 12) If two different direct materialssuch as the circuit board and microphoneare added to the process, 13) Conversion costs include direct materials and direct labor but excludes all other manufacturing and, 14) Job-costing and process-costing are mutually exclusive, hence a hybrid costing system that combines. True or false: All make or buy decisions should emphasize the long-term goals for robust and flexible supply chains. Which of the following are reasons that a company may choose to make over buy? Which service department is most likely to use square feet of floor space occupied as the allocation base to assign its costs to operating departments? Standard specifications offer advantages of, Descriptions for supplies can be given using a variety of forms, supply personnels responsibility is to. d. indicate the methods of accomplishing the work. If the weight variance differs from .000004.000004.000004, the injection molder is out of control. **b. Why is punishment a controversial way of controlling behavior? 7) In a series of interdepartmental transfers, each department is regarded as separate and distinct for, 8) When calculating the costs to be transferred using the FIFO method, we should not include costs, 9) Transferred-in costs are always 100 percent complete at the beginning of the process in the new, 10) Transferred-in costs are costs incurred in previous departments that are carried forward as the. Employee turnover The real success or failure of a quality control effort is dependent on the _____ in the process. When expenses are greater than the potential increased sales from market segmentation, a firm should. \end{array} Large fluctuations in demand from the retailer up through the supply chain is known as the ___________ effect. When supply chain managers consider logistic needs, the packaging can affect. 1. 's expected return is $12 \%$ with a volatility of $26 \%$. hire the services of a marketing research company based in China. differences between budgeted and actual amounts. Which of the following are included in Dr. Paul Ekman's list of basic emotions? At startup, the organization chart is more likely to be _____, reflecting the fact that the entrepreneur and the founding team often perform all the functions when the business is starting. There are five forms of inventory that include raw materials, work-in-process, _______________goods, ________ items, and resale items. Which of the following are characteristics of nonprobability sampling? Julie's wages are an example of ______ expenses for the production department. The most significant cost for resellers is. adopt lean inventory principles You have $\$ 8600$ to invest. As a research technique, blog mining involves _______. WebStudy with Quizlet and memorize flashcards containing terms like In 1972, both houses of Congress passed the Equal Rights Amendment (ERA), a Constitutional amendment guaranteeing equal rights for all citizens regardless of sex. This information is a form of _______ data. 1) Costing systems that are used for the costing of like or similar units of products in mass production are. In the context of the components of company vision, _____ are the means to execute the strategies for achieving the goals of a company. Direct expense In a crop market with a price support above the equilibrium price, the total amount of the subsidy paid to farmers is equal to the. Division ABC has a higher return on investment. (Check all that apply. A responsibility accounting performance report contains which of the following items? T/F. the quantity of apartments demanded will increase. Suppose that the government imposes on gasoline that is below the equilibrium price. b. During the period, a company reports Sales of $38,000, Cost of Goods Sold of $20,000, and Income of $1,500. When used with a heat map, which of the following shows changes in aggregate attention for a group of subjects over time? c. Random assignment keeps expectations from influencing the results of the experiment. Brand specific requirements can deprive the buyer of using other suppliers. 211287. All of the following are examples of increased customer value from organizational synergy except which? resources used in job-search activity increase compared to the situation before the minimum wage. True or false: Closure requirements for all subcontracts are universal. A division has residual income of $350,000. \hline 1 & 1,500 & 205 & 11 & 1,250 & 116 \\ If a rent ceiling is imposed that is less than the equilibrium rent, which of the following outcomes is most likely to occur? The _____ plan is simply a way of recognizing that sometimes even the "best laid plans" don't work the way they were intended to work. 4 & 1,250 & 151 & 14 & 1,500 & 206 \\ What are the difficulties when acquiring services? The division's investment turnover is . Justify your answer. The researcher has participants taste the old product along with the new reformulated product. The three stages of sampling, inspection, and testing are. \text{Branch Hotels} & 247,500 &303,750\\ Bank A has a leverage ratio of $10$ , while Bank B has a leverage ratio of $20$ . evaluate managers' performance. The above figure shows the market for winter jackets. According to the six sigma philosophy, if you control the _____inputs , _____, you will control the. Therefore, the ideal segmentation strategy for Prince would be. Which of the following statements best represents the subjectivist approach to avoiding ethical issues? T/F, Today, spending money to find new customers is more important than retaining and maintaining current customers. So, a researcher conducts an experiment with a group of people. The company's three selling departments have the following sales: Department 1$10,000; Department 2$30,000; Department 3$40,000. Is there a direct or John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Service Management: Operations, Strategy, and Information Technology. They are then asked which of the two they would buy. Which bank shows a larger change, The Crosby Company provides advertising services for clients across the nation. The division's residual income is $. **Answering the ESSENIIAL QUESTION** How do corporations contribute to the growth of the U.S. economy? DMAIC is the six sigma philosophy, it stands for. WebStudy with Quizlet and memorize flashcards containing terms like tax farmers., the quantity of apartments demanded will increase., 30; 20 and more. The above figure shows a housing market with a rent ceiling equal to $1,000. A study that examines the impact of an intervention in the real world is called a(n) ________ _________. Which technique allows researchers to directly measure how much attention consumers pay to various marketing situations such as promotions, packaging, television advertising and print advertising? On June 1, the four advertising projects had the following accumulated costs: uses insights and tools from neuroscience to better understand consumer responses to different kinds of marketing stimuli. Accident investigation, productivity loss, and retraining take away valuable time and money away from an organization. WebIn addition to the direct cost of providing services, governments also incur indirect costs. Administrative Cost -10%. True or false: Statistical Process Control (SPC) is an industry-standard methodology for measuring and controlling quality during the manufacturing process. The figure above shows supply and demand in the market for labor. The purchase price of a capital purchase is between _______ percent of the total cost of ownership. WebStudy with Quizlet and memorize flashcards containing terms like Market Segmentation, product differentiation, market-product grid and more. A(n) _____ is bound by rules and ethics that do not permit advocacy. The 80/20 rule is most closely related to which basis of segmentation? If a price ceiling is introduced in the market for milk below the market equilibrium price, then the producer surplus made by dairy farmers ________. Consider the following data drawn independently from normally distributed populations: Which of the following is an impact of a rent ceiling set below the equilibrium rent? \text{Starks Bank}&\$180,000\\ days' sales in accounts payable (aka days payables outstanding) Value proposition describes how _______ will improve customer success and allow the organization to do better. T/F. To combat the ethical implications of gathering data on customers, many companies employ, Passive data collection is a technique used in, One of the advantages of quantitative research is that. setting specific objectives for the research. WebStudy with Quizlet and memorize flashcards containing terms like 1) Costing systems that are used for the costing of like or similar units of products in mass production are called ________. stabilize production costs. A retail store has 10,000 square feet of space and incurs rent costs of $5,000 per month. T/F, Not all businesses are affected by logistics. Which of the following is NOT a question that an entrepreneur should ask him- or herself if he or she is thinking about outsourcing operations? Which of the following statements regarding when and how to segment markets is most accurate? Every organization has specific needs, the value of these needs are categorized into three levels, they are: Strategic, traditional, and additional current. (Check all that apply. Division B reports the following data: sales = $60,000; income = $9,600; average assets = $48,000. In general, founders who bring the idea or seed capital to the venture will receive a premium on the share of stock they receive, typically between _____ and _____ percent. A company's _____ is what brings everyone together to achieve a common objective and is closely related to the company's purpose. When ------- stock is not available, the quality of all incoming components, parts, and services must be adequate. The deadweight loss equals the. Inventories are maintained by organizations. "Sinc 1960s / During the 1960s QFD was developed in Japan. The division's return on investment is %. This would be considered ________ segmentation. Which of the following is a characteristic of early adopters? Division ABC has $750,000 in average assets and income of $200,000. Which statement best describes descriptive research? **e.** A bond issued by Toyota worldwide with the interest payable in dollars. 3) When a Bakery transfers goods from the Mixing Department to the Baking Department, the accounting. It is not useful in determining the reason behind people's behaviors. Ellie is a pragmatic customer who tends to wait until a new product is proven and plenty of people are using it before she purchases it. Match the risk management type to the definition for supply terminology. The initial stock issued to the first shareholders of a corporation is sometimes referred to as _____ stock. In the figure above, the number of unemployed workers is. 14) Underestimating the degree of completion of ending work in process leads to increase in operating. True or false: The product aspect of the four Ps is generally determined by the desires of the marketing department and is not based on customer needs and wants. employee Investors focus on the first 18 months to 2 years of a startup because during that time, the entrepreneur is Having to translate materials and research responses can be costly and prone to errors. This is an example of ________ data. \text{Finley Airlines} & 56,250 &416,500\\ By randomly assigning participants, the researcher knows that whatever is learned from the experiment will also be true for the population from which the participants were selected. The accounting department of a manufacturing company is a(n): Each of the following are a type of responsibility accounting center: A _____ center manager is evaluated on their success in generating income. Which of the following is a service that consultants do NOT provide? 7) Which of the following statements best describes conversion costs? The purpose of market segmentation is to respond more effectively to the wants of groups of potential buyers in order to. Building a complex production system while the company is in startup or even later when it is rapidly growing is. _____ are primarily interested in a company's margins and cash flow projections. Could a companys change in NWC be negative in a given year? Which of the following is NOT a characteristic of communication in an effective team? _____ employs a pull strategy, generally focusing on non-price benefits and targeting end-users. Which of the following is an advantage of using an inventory management company? b. a quality control process a method for customizing production scheduling a technique for routing that eliminates bottlenecks a type of reverse auction the method services use to reduce nonessential costs ____ refers to operating a business in a way that exceeds the ethical, legal, commercial, and public expectations that society has of the business. Which of the following results from a price ceiling? Tracking and compiling consumer behaviors anonymously. A company would rely on _____ research when it is trying to discover new insights on the thoughts, needs, and behavior of consumers. The company wants to understand how this action will affect demand for the product, so Valerie's boss wants her to estimate how this price increase will affect consumer interest for the product. This demonstrates the idea of _____ research. The first step a marketing team takes in the marketing research process is _______. Carli is taking the information she learned from the focus group and placing it into a spreadsheet, so she can identify the trends in buying habits of the participants. Labor hours per order. According to the six sigma philosophy, if you control the ________inputs , ______, you will control the. Which of the following is an important benefit of demonstrating proof of concept (POC) with a prototype? In the new product adoption/diffusion cycle for technology products, the chasm is a period where there is more customer demand than the company can possibly manage. A _____ involves customer discovery and business model validationtesting your business model in the market with real customers to determine the conditions you must have in place to ensure a successful launch. Round your answer to two decimal places. \text{Sanders Beverages}& \underline{76,500}\\ 2) Which of the following companies is most likely to use process costing? Which neuromarketing technique looks for active areas in the brain by measuring the amount of oxygenated blood flowing through the body? The Pareto curve is often called the ______________ - _____________ rule, or ABC analysis. Increased emphasis is placed on senior leadership accountability with quality and business strategies. The above figure shows the domestic market for wheat. So when the search cost is ________ the rent, some people end up paying a ________ opportunity cost for housing than they would if there were no rent ceiling. The ability of a product to meet requirements over a specified period of time. Valerie's company recently increased the price of its most popular brand of dog shampoo. Math. The company's target rate is 8%. To determine the reorder point, the _______ time is necessary. An equitable allocation of Indirect Costs across all projects/contracts. quantity of apricot pickers employed decreases. Suppose this market is isolated from global competition and there is a support price set at $16. residual income is not as useful when comparing investment centers of different sizes. What is the confidence level of each of the following confidence intervals for $\mu$ ? Round your answer to two decimal places. Which of the following is one of the biggest problems with most marketing plans? 40) Which of the following statements is true of process costing? Import restriction in advanced economies deny developing economies access to the food market of the advanced economies. Evaluating manager's performance based solely on financial measures has limitations. Division XYZ has $800,000 in average assets and $210,000 in income. _____ is a tool for increasing the level of visibility of an entrepreneur's website when customers search for the company online. Both answers create a deadweight loss and benefit people who live in rent controlled apartments are correct. _____ is used to demonstrate that a company stands behind what it produces and the work that it does. Which method of description is confined to certain primary materials? Which of the following is NOT a component that makes up the design of an entrepreneurial company? 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