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You operate a small but popular and profitable restaurant/bar in a college town. There are several other restaurants and bars nearby. You have conducted a market research study and discovered that the price elasticity of demand for local residents is lower (less elastic) than the price elasticity of demand for college students, who are usually in town only while the college is in session about 9 months out of the year. Discuss at least two pricing strategies you can use to increase your revenues and analyze them in terms of their ability to generate additional profits. Indicate any additional assumptions you are making.
Determine the average time callers wait to have their calls answered for each period and the probability that a caller will have to wait for each period. Determine the maximum line length for a probability of 94 percent.
Assume that you are about to ask your supervisor for a raise. Which communication medium or channel would you use?
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.95 per card, and the cost of printing is $0.40 per card.
Illustrate what would 3-sigma control limits for the process be. Illustrate what alpha risk would they provide.
Statistical process control (SPC) is the application of statistical techniques to determine whether a quantity of material should be accepted or rejected.
The costs of flying a bicycle are shown in the table below. WACO wants to minimize the total cost of shipping the required bicycles to its customers.
Define types of information communication within organizations. Can you help me better understand explain how to explain this in a short essay? re is no page or word limit required.
Using PHStat construct the probability distribution for the value of a 2 card hand dealt from a standard deck 0f 52 cards (all the face cards have a value of 10 and the ace a value of
How do you create that calculated field to display that Age value on your report? What would you do if your underlying table or query has a field named BirthDate but you want your report to print out the Age of your customers?
explain in detail how two other factors specific to this company might make it difficult to evaluate the financial impact of this strategy.
Sandy believes her employer has breached the employment agreement and she should be paid for the two weeks between jobs. Is she right? Explain.
Use trial and error to find out a better layout for Fresh Foods Grocery. Compute LD score and compare it to LD scores computed for Fresh Foods' current and proposed layouts. Which is best
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