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Klub produces programs and books for single-weekend events such as reunions and festivals. Production planning must happen several weeks before the event with no opportunity to re-print, so we have to work with demand forecasts. For an upcoming event, demand is predicted to be normally distributed with parameters:
Demand is Normal
Mu µ 2200
Sigma σ 250
The selling price of a book is $12. The manufacturing cost per unit is $3.
Klub keeps all of the profits from the sale. How many books should Klub produce? What is the corresponding expected profit?
Marketers work hard to develop brand equity and customer equity. Are those concepts important a consumer? From the standpoint of a consumer, what would a consumer think the marketer can do to increase customer equity.
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Pratt & Whitney has bet billions on its commercial jet engine market, but first, it has to get parts delivered on time. The Wall Street Journal (June 8, 2016) reports that half of the company’s suppliers for its new “geared turbofan” engines aren’t d..
Review the activities of “Global Citizen” initiative and define the notion of “Global Citizenship.” What does it mean for you to be a “global citizen”? What are the most effective ways to promote global participation?
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