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In the past few years, the traffic problems in Lynn McKell's hometown have gotten worse. Now, Broad Street is congested about half the time. The normal travel time to work for Lynn is only 15 minutes when Broad Street is used and there is no congestion. With congestion, however, it takes Lynn 40 minutes to get to work. If Lynn decides to take the expressway, it will take 30 minutes regardless of the traffic conditions. Lynn's utility for travel time is: U(l5 minutes) = 0.9, U(30 minutes) = 0.7, and U(40 minutes) = 0.2. (a) Which route will minimize Lynn's expected travel time? (b) Which route will maximize Lynn's utility? (c) When it comes to travel time, is Lynn a risk seeker or a risk avoider?
Some of gas companies would like to discover or test elasticity of demand or at illustrate what price will consumers stop buying gas also choose alternatives like carpools, public transportation or riding a bicycle.
First Virgin actively seeks business proposals from the public via its Web site. "If you have a fantastic idea for us, then were all ears! Were always on the lookout for fresh ideas to improve our current companies and to create brand new ones."An..
Use a real-life example of when senior managers must create new strategic plans in order to address a legal, ethical, or corporate social responsibility issue. Elucidate how might new strategic planning have impacted planning done by managers thro..
"JUST DO IT" advertisement for Nike. What is the marketing purpose of this slogan? Is this slogan effective?
Find a business or organization, preferably one where you are working used to work, or know an employee or owner. (You can use anything such as retail or finance departments)
To support National Heart Week, the Heart Association plans to install a free blood pressure testing booth in El Con Mall for the week.
The use of computers and JIT (Just-In-Time) inventory strategies has enabled SCM (Supply Chain Management) Systems to minimize WIP (Work-In-Process) inventories. Discuss this approach to Inventory control and ways to mitigate disruptions in the sup..
Phelps Petroleum Company must decide between two methods of processing oil at a refinery. Method 1 has fixed costs of $22000 for depreciation
The coffeehouse estimates that it costs $45 in paperwork and labor to place an order for the coffee, and the annual holding cost is 15% of the purchasing price.
Whole Foods buys organics beets from two suppliers, one in Ames and one in Zearing. The price per unit of the Ames beets is $4.50 and the price per unit of the Zearing beets is $7.00.
From a business perspective, what are the dangers of "greenwashing"? If you were a marketing executive, would you have a policy against "greenwashing"?
The local technology store WiredIn hired you to manage their inventory, which consists of 2 products configurations, type L and type J. Below are the data for the products.
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