Answers
Answer:
Reverse redlining
Explanation:
Reverse redlining means the practice that target the neighborhood specially the non-white for the greater prices or lended the non-fair terms like lending used for predatory with respect to the subprime mortgage
So as per the given situation, it is the reverse redlining as it is targetted to the borrowers or the areas having high cost loans
So, the same should be considered
Related Questions
what is a bond? in your own words. economics.
Answers
Answer:
A bond is simply a loan taken out by a company. Instead of going to a bank, the company gets the money from investors who buy its bonds. In exchange for the capital, the company pays an interest coupon, which is the annual interest rate paid on a bond expressed as a percentage of the face value.
Explanation:
Answer:
A bond is a fixed income Instrument that represents a loan made by investors to a borrower ( typically corporate or governmental).
Identify each of the following items as a capital expenditure (C), an immediate expense (E), or neither (N). Transaction Type of Expenditure 1. Constructed a new parking lot on leased property for $300,000. 2. Paid property taxes of $75,000 for the first year a new administrative services building was occupied. 3. Paid dividends of $40,000. 4. Paid interest on a six-month note payable that financed the construction of a new plant building, $550,000. 5. Purchased equipment for a new manufacturing plant, $6,000,000. Transaction Type of Expenditure 6. Paid $90,000 for the installation of the equipment in (5). 7. Repaired plumbing in existing manufacturing plant, paying $27,000. 8. Paid $148,000 to tear down an old building on a new manufacturing plant site. 9. Purchased new network servers for $29,000. 10. Paid maintenance costs of $31,000 on the equipment in (5) during its first year of use.
Answers
To Identify each of the given transaction as a capital expenditure (C), an immediate expense (E), or neither (N).
Immediate Expense can be defined as the expenses that are recorded immediately as they occur or as they are incurred which in turn lead to reduction in the net profit of a company or an organization income statement.
Capital expenditure are money which a business, company or organization used to carryout the following:
Repair assets Buy assetsMaintain assets so as to extend the assets useful lifeNow let identify each transaction as a capital expenditure (C), an immediate expense (E), or neither (N).
Constructed a new parking lot on leased property for $300,000.Type of Expenditure: Capital expenditure
Paid property taxes of $75,000 for the first year a new administrative services building was occupied.Type of Expenditure: Immediate expense
Paid dividends of $40,000.Type of Expenditure: Neither
Paid interest on a six-month note payable that financed the construction of a new plant building, $550,000.Type of Expenditure: Capital expenditure
Purchased equipment for a new manufacturing plant, $6,000,000. Type of Expenditure: Capital expenditurePaid $90,000 for the installation of the equipment in (5).Type of Expenditure: Capital expenditure
Repaired plumbing in existing manufacturing plant, paying $27,000.Type of Expenditure: Immediate expense
Paid $148,000 to tear down an old building on a new manufacturing plant site.Type of Expenditure: Capital expenditure
Purchased new network servers for $29,000.Type of Expenditure: Capital expenditure
Paid maintenance costs of $31,000 on the equipment in (5) during its first year of use.Type of Expenditure: Immediate expense
Learn more here:
https://brainly.com/question/17073249
The wage gap refers to
O A. the difference in wages between women and men doing the same
job
B. the difference in wagesbetween foreign workers and U.S. workers
C. the difference between the minimum wage and the cost of living
D. the fact that wages have not kept up with inflation
Answers
If Amelia would like to double her money in twelve years, how much interest does she need to earn O 12 percent O 16.6 percent O 6 percent 10 percent
Answers
Out of the given answer choices, the interest rate that Amelia needs to earn to double her money in twelve years is 16.6 percent.
To find out how much interest Amelia needs to earn to double her money in twelve years, we need to use the compound interest formula.
This formula is used to determine the future value of an investment based on the principal, the interest rate, the number of compounding periods, and the time involved.
The formula is as follows: FV = PV x (1 + r/n)^(n*t)where FV = future value, PV = present value (the amount of money Amelia currently has), r = annual interest rate, n = number of times the interest is compounded per year, and t = time in years.
To double her money, Amelia needs to have a future value that is twice her present value. Therefore, we can set FV = 2PV and solve for r.
2PV = PV x (1 + r/n)^(n*t)Dividing both sides by PV, we get:2 = (1 + r/n)^(n*t)
Taking the natural logarithm of both sides, we get: ln(2) = ln[(1 + r/n)^(n*t)]
Using the power rule of logarithms, we can simplify the right side of the equation to ln(2) = (n*t) ln(1 + r/n)
Dividing both sides by (n*t), we get:ln(2) / (n*t) = ln(1 + r/n)
Finally, we can solve for r by raising both sides as the power of e: e^(ln(2) / (n*t)) = 1 + r/n
Subtracting 1 from both sides and multiplying by n, we get:r = n x (e^(ln(2) / (n*t)) - 1)
Plugging in the values given, we get:r = n x (e^(ln(2) / (n*12)) - 1)
We don't know the value of n, so we can try each of the answer choices to see which one gives us a value of r that works.
Using a financial calculator or a spreadsheet program like Excel, we can calculate the values of r for each interest rate.
Using 12 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0956 or 9.56 percent
Using 16.6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.1407 or 14.07 percent
Using 6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0488 or 4.88 percent
Using 10 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0794 or 7.94 percent
For more such questions on interest rate
https://brainly.com/question/29451175
#SPJ8
The equipment necessary for a 4 year project will cost $3,300,000 and can be sold for $650,000 at the end of the project. The asset is in the 5-year MACRS class. The depreciation percentage each year is 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%, respectively. The company's tax rate is 40 percent. What is the aftertax salvage value of the equipment?
Answers
Answer: $618,096
Explanation:
Accumulated depreciation after 5 years = 20% + 32% + 19.2% + 11.52
= 82.72%
Value after 4 years = 3,300,000 * ( 1 - 82.72%)
= $570,240
Gain on sale = Salvage value - Net book value
= 650,000 - 570,240
= $79,760
Aftertax salvage value = 650,000 - (Gain on sale * tax)
= 650,000 - (79,760 * 40%)
= $618,096
How does Globalization affecting businesses around the world?
Answers
Globalisation is affecting business as it has increased competition, expanded markets, and enabled companies to access new resources.
The biggest impact of globalization on businesses has been the ability to access new technologies. Businesses can now access the latest technologies from all over the world, allowing them to stay ahead of their competition and remain competitive.
At the same time, globalization has also posed some challenges to businesses. Increased competition has led to a decrease in prices and profits, as businesses have to compete harder to stay in business. Furthermore, businesses have to constantly stay up to date with the latest technologies and regulations to remain competitive.
Overall, globalization has had a major impact on businesses around the world. It has opened up opportunities for businesses to expand and access new markets, while also introducing new challenges. Businesses need to understand the impact of globalization and take the necessary steps to take advantage of the opportunities it presents and to stay competitive in an ever-changing global market.
Learn more about globalisation:
brainly.com/question/25499191
The advantage of using a safe deposit box at a financial institution is that it is protected by the financial institution’s security system, which usually provides greater protection than the security systems of a private home. Group of answer choices False True
Answers
Answer:
True
Explanation:
The biggest advantage of keeping deposits at financial institutions is that they receive more protection in comparison to the security systems of a private home. Hence, the given statement is true.
What is a financial institution?Also known as the banking institutions, financial institutions or FI is a kind of business entity that provides and deals in various types of financial monetary transactions. Basically, a financial institution is a company that deals in the activities such as deposits, loans, investments, and currency exchange. The customers of these institutions are the individuals and businesses who need them.
There are some common types of financial institutions, they are commercial banks, brokerage firms, insurance companies, and investment banks. In the given types of institutions, there are sub-categories also. They are central banks, retail and commercial banks, internet banks, credit unions, savings, and loans associations, investment banks, and many more.
Thus, the given statement is correct.
Learn more about financial institutions here:
https://brainly.com/question/13753001
#SPJ2
For a corporation, direct investment from owners occurs when:
Answers
For a corporation, direct investment from owners occurs when there is an influx of capital to get equity shares
A corporation is an institution or organization that is made up of a group of people who come together and act as a single entity.
When there is a direct investment from owners of a corporation, then this means that there is an influx of capital to buy equity shares.
There are different ways of making a direct investment such as:
Buying sharesOpening a company in another country, etcTherefore, when a corporation makes a direct investment, then they are buying equity shares
Read more here:
https://brainly.com/question/14943609
1-You're the Advisor Now: Your friend is adequately insured, but isn\'t sure what to do next. What do you
recommend? *
a. Start investing your ESI (Early Debt Repayment. Savings, Investing) money in a retirement account.
b. Start paying off all your high-interest debt immediately.
c. Build up a small emergency fund, say $1,000, in your checking account.
Answers
The focus should be on building a strong financial foundation. Therefore, it is recommended to build up a small emergency fund of $1,000 in their checking account. An emergency fund provides a financial safety net in case of unexpected expenses or emergencies, which can help them avoid debt or having to dip into other investments. Once they have an emergency fund, they can focus on paying off high-interest debt and investing in a retirement account for long-term financial planning. However, it is crucial to have a solid financial foundation before making any other financial decisions.
What would you recommend for someone that is adequately insuredI would recommend that they focus on building a strong financial foundation before making any further financial decisions. Specifically, I would recommend that they build up a small emergency fund, say $1,000, in their checking account.
An emergency fund is important because it provides a financial safety net in case of unexpected expenses or emergencies. It can help your friend avoid going into debt or having to dip into other investments in case of an emergency. Once they have built up their emergency fund, they can then focus on paying off any high-interest debt and investing in a retirement account.
Paying off high-interest debt is important because it can save your friend money in the long run and improve their financial standing. Investing in a retirement account is also important for long-term financial planning and can help your friend build wealth over time. However, having a solid financial foundation, including an emergency fund, is crucial before making any other financial decisions.
Learn more on insurance here;
https://brainly.com/question/4953989
#SPJ1
Which of the following statements about the W-2 form is TRUE?
1.AW-2 lists all the money you earned in cash over the last year
2. You need a separate W-2 form from EACH of your employers in order to file your taxes
3.The W-2 includes information about the interest you earned from your investments
4.The total wages you earned from ALL jobs you worked in the previous year appear on ONE W-2 form
Answers
Answer:
I believe it it the second option.
Explanation:
I don’t understand the question please help?
Answers
cash flow is determined by multiple choice question. subtracting cash payments from cash receipts.\
Answers
Cash flow is an essential measure of a business's financial health. It represents the amount of cash that is coming into and going out of the business during a specific period of time, such as a month, a quarter, or a year.
Positive cash flow means that more cash is coming into the business than is going out, while negative cash flow means that more cash is going out than coming in. To calculate cash flow, you need to start by determining the cash receipts and cash payments during the period. Cash receipts include all the cash that the business receives, such as sales revenue, interest income, and cash from loans. Cash payments include all the cash that the business pays out, such as salaries, rent, and other operating expenses. Once you have determined the total cash receipts and cash payments, you can subtract the cash payments from the cash receipts to arrive at the cash flow. A positive cash flow means that the business has more cash coming in than going out, while a negative cash flow means that the business is spending more cash than it is receiving. Positive cash flow can be used to cover expenses, invest in the business, pay off debt, or distribute profits to shareholders. Negative cash flow can indicate that the business is in financial trouble and may need to take action to increase its cash inflows, reduce its cash outflows, or seek external financing. Managing cash flow is an essential part of running a successful business. Business owners need to be able to accurately forecast their cash inflows and outflows, monitor their cash balances regularly, and make adjustments as needed to ensure that they have enough cash on hand to cover their expenses. This requires careful financial planning, budgeting, and tracking of financial performance, as well as a thorough understanding of the business's cash flow drivers and risks. By managing cash flow effectively, business owners can ensure that their businesses remain financially healthy and able to achieve their long-term goals.
To know more about cash flow:
https://brainly.com/question/29768594
#SPJ4
Which of the following situations illustrate the problem of unmeasured quality change in the construction of the CPI? Check all that apply. Increased personal computer purchases in response to a decline in their price More scoops of raisins in each package of Raisin Bran The invention of cell phones The introduction of air bags in cars Greater use of fuel-efficient cars after gasoline prices increase
Answers
Answer:
The introduction of air bags in cars
More scoops of raisins in each package of Raisin Bran
Explanation:
In the case when the quality of the prodcut would reduce from one year to the next year but the price would remains same so the dollar value would decline as the same amount would be charged but the quality would be worse in the other case the quality would rise so the price would also rised
Therefore the above represent the situations
Being the low cost provider in an industry gives a company ability to
A. Wield heavy influence in setting industry’s price floor
B. Helps protect profit margin against bargaining power of customers
C. Makes it harder for new entrants to take away customers
D. Provide a defense against attemp of substitute
E.all of the above
Answers
Answer:
e
Explanation:
Henry spent $550 to make 800 ceramic bowls to sell. What is the $550 he spent called? cost loss revenue profit
COST
LOSS
REVENUE
PROFIT
Answers
Answer: Cost.
Explanation:
He spent that money on materials to create a product. That is a cost. If he sold those bowls and $550 is what he made, it is revenue. If he sold the bowls and paid his costs and the new total came out to $550, that is profit. If he priced his bowls too high and spent money on materials that then made him no money, that is a loss of $550 (the total of the materials gone to waste).
Match each CRM technique with its description
-RFM
-loyalty programs
-clickstream analysis
offers discounts or free items to customers
who keep coming back
calculates a customer's most recent visit,
the frequency of visits, and annual spending
discovers through data mining what customers
have in common to predict behavior
tracks every image, link, or object that
a customer clicks
clustering
Answers
A loyalty program is a type of marketing strategy that aims to keep customers coming back to a business or using its services.
What precisely is RFM examination (recency, recurrence, and money related)?RFM analysis is a marketing strategy that uses a quantitative ranking and grouping of customers based on the recency, frequency, and monetary total of their most recent transactions to identify the best customers and carry out targeted marketing campaigns.
What levels of clickstream investigation are there?Clickstream investigation, which is a kind of Web examination (see a different section), is the following and examination of site visits. Clickstream investigation ordinarily screens and measures site movement by using the Internet server log records, regardless of the way that there are different techniques for gathering this information.
Two levels of clickstream analysis are possible: traffic analysis and an examination of online businesses.
tracks each image, link, or object clicked by a customer- clickstream analysisgives away free or discounted items to repeat customers.- loyalty programsdetermines a customer's most recent visit, the number of visits, and the amount spent annually- RFMuses data mining to discover what customers- clusteringLearn more about RFM analysis: https://brainly.com/question/28537349
#SPJ1
Which step follows the marketing mix step in the process of marketing management?
ОА
market research
ОВ.
market monitoring
OC marketing mix
OD. product development
OE identifying target markets
Answers
Answer:
market monitoring
Explanation:
After the marketing mix step, Implementation, monitoring, and control follows. The strategic marketing process is a continuous effort. Management should always be on the look for places to improve and enhance the plan. Market monitoring assists in pointing out specific opportunities for improvement.
Market monitoring requires the management to keep looking at the set goals and objectives to determine if the marketing process is heading in the right direction.
What is it called when a person's behavior in the workplace creates circumstances that make it difficult for someone else of a particular sex to do his or her work?
Answers
A company paid Jen Rogers, its sole stockholder, a total of $21,000 in dividends during the current year. The entry needed to close the dividends account is:
Answers
Answer and Explanation:
The journal entry to required the closing of the dividend account is shown below:
Retained earnings $21,000
To Dividends $21,000
(Being the closing of the dividend is recorded)
Here the retained earning is debited as it decreased the equity and the dividend is credited as it reduced the dividend
) A price change would have the largest income effect on a A) magazine. B) tablet computer. C) piece of clothing. D) car.
Answers
Answer:
d
Explanation:
A change in price leads to two effects :
The income effect The substitution effectThe income effect is the change in quantity demanded as a result of a change in real income which affects the consumes purchasing power.
A car constitutes a very large part of a consumers expenditure due to its cost. Thus, the income effect for a car would be the largest
The substitution effect is the change in demand as a result of change in the price of the good compared to the price of another substitute good.
PLC Ltd. found the following debts to be bad on the dates shown
Answers
The acronym PLC, which stands for a public limited company, indicates that the firm's shares are publicly traded. It is the British equivalent of "Inc." in the United States.
What is PLC?In the United Kingdom, a public limited company (PLC) is a type of public business. PLC is the counterpart of a publicly listed firm in the United States that uses the Inc. or corporation classification. The inclusion of the PLC acronym following a business's name is required, and it informs investors and anybody interacting with the firm that it is a publicly listed corporation. PLC, which stands for a public limited company, is an acronym for public corporations in the United Kingdom.
PLCs make up the majority of the firms listed on the London Stock Exchange. A PLC shares can be purchased by any regular investor. Unlike privately held companies, public companies are required to publish financial data and disclosures to the public on a regular basis.
Learn more about PLC
https://brainly.com/question/16602847
#SPJ1
why is insurance necessary for businesses and individuals
Answers
Answer:
Incase of any emergency like an accident 5hey can support you
What are the desirable personal characteristics, attributes, lifestyles, skills, and traits of a prospective entrepreneur? Why are these important?
Answers
Answer:
The answer is below
Explanation
1. There are various desirable personal characteristics, attributes, lifestyles, skills, and traits of a prospective entrepreneur, some of them include
Competency,
Hardworking,
Risk-taking
Innovation
Perception
2. These characteristics or attributes of an entrepreneur are important because they guide and lead the entrepreneur in making the right decision. It also helps entrepreneurs to solve issues like conflicts, hire and fire where necessary, etc.
Write about a business management theory that you identify with, incorporating real-life examples in your answer.
- Word length requirement is between 200 and 500 words
Answers
A business theory that I identify with is the concept of transformational leadership. This approach emphasizes the import of leaders inspiring and motivating their teams to achieve common goals, as against just giving orders and directives.
What real life event is depicted with this theory?Transformational Leadership can be seen in the success of Apple Inc. under the leadership of Steve Jobs and the turnaround of Ford Motor Company under Alan Mulally.
In both examples, the leaders were able to create a shared vision for the organization and inspire their teams to work towards that vision.
Overall, the concept of Transformational Leadership is a powerful one that can assist firms or organizations to achieve extraordinary successes. By inspiring and motivating their teams, leaders can create a shared vision for the organization and taming everyone's efforts towards achieving that vision. This can lead to increased engagement, high productivity, and greatest of all, success.
learn more about Transformational Leadership: https://brainly.com/question/14531259
#SPJ1
if you’ve insured at home for $200,000 in the home is only worth $150,000 you can receive $150,000 at most if you file a claim.
A. TRUE
B. FALSE
Answers
Answer:
true
Explanation:
Answer:
TRUE
Explanation:
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
https://brainly.com/question/24561653
#SPJ8
how a commitment to a decision could assist a school leaver to adapt to the change of entrepreneurship?
Answers
Answer:
the commitment to a decision would help the school leaver to focus on a particular goal of entrepreneurship
A commitment to a decision would help a school leaver because it would make them less likely to give up.
When a school leaver first goes into entrepreneurship, things can be very difficult and they might face to urge to give up a lot of times.
If they make a decision to commit to the business however, this can give them the willpower to keep going even when things are tough.
In conclusion, it helps them persevere.
Find out more on entrepreneurship at https://brainly.com/question/353543.
Identifying and Classifying Balance Sheet and Income Statement Accounts
Following are selected accounts for Staples, Inc., for the fiscal year ended January 3, 2016
(a) Indicate whether each account appears on the balance sheet (B) or income statement (I).
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 I
Accumulated depreciation 4,067 B
Depreciation expense 408 I
Retained earnings 6,694 B
Net income (loss) (211) I
Property, plant & equipment, net 6,030 B
Selling, general and admin expense 4,884 I
Accounts receivable 1,816 B
Total liabilities 6,144 B
Stockholders' equity 6,136 B
(b) Using the data, compute total assets and total expenses.
Total Assets = $Answer
Total Expenses = $Answer
(c) Compute net profit margin (net income/sales) and total liabilities-to-equity ratio (total liabilities/stockholders' equity). (Round your answers to two decimal places.)
Net Profit Margin = Answer
Total Liabilities-to-Equity Ratio = Answer
Answers
Answer:
Staples, Inc.
a. Indication of whether each account appears on the balance sheet (B) or income statement (I):
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 (I)
Accumulated depreciation 4,067 (B)
Depreciation expense 408 (I)
Retained earnings 6,694 (B)
Net income (loss) (211) (I)
Property, plant & equipment, net 6,030 (B)
Selling, general and admin expense 4,884 (I)
Accounts receivable 1,816 (B)
Total liabilities 6,144 (B)
Stockholders' equity 6,136 (B)
b) Total Assets = $3,779
Total Expenses = $5,292
c) Net Loss Margin = -0.87%
Total Liabilities-to-Equity Ratio = = 100.13%
Explanation:
a) Data and Calculations:
Total assets:
Accumulated depreciation (4,067) (B)
Property, plant & equipment, net 6,030 (B)
Accounts receivable 1,816 (B)
Total assets = $3,779
Total Expenses:
Depreciation expense 408 (I)
Selling, general and admin expense 4,884 (I)
Total expenses = $5,292
Net profit (loss) margin = $(211)/ $24,381 * 100 = -0.865%
Total liabilities-to-equity ratio = total liabilities/stockholders' equity * 100
= $6,144/$6,136 * 100
= 100.13%
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
Answers
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
For more such questions on Service goal visit:
https://brainly.com/question/24553900
#SPJ8
1. Why do you think that there’s a huge gap in theory (what we know we should do) and practice (what we’re actually doing) of leadership development?
2. What are some reasons that companies might not be addressing Gen Y leadership development programs?
Answers
Answer:
1. Theories are based on assumptions. It is practice that verifies the underlying assumptions behind every theory, using real-life experiences. If theories are not put to use, they remain theories with untested assumptions.
2. The current leadership does not understand the millennials. The millennials are operating with tools that look too sophisticated for the current leadership. There is much confusion between what the Gen Y millennials want to achieve and the expected achievement targets being set by the current leadership. Leadership development programs for the Gen Y can only be implemented when misunderstanding is removed.
Explanation:
Leadership development includes all the processes that expand the capacities of individuals to perform in leadership positions by facilitating the execution of a company's strategy, building alignments, and winning mindsets while growing the capabilities of others to succeed the current leaders.
There is a more gap between the theory and the practice because the theories are totally based on the assumptions whereas the practice is fully depending on the theory.
Why there is a gap between theory and practice?(1).
There is a huge gap in theory and practice in the leadership style because the theories are established or fully founded on assumptions.
But in the practice, it confirms the implicit premises or assumptions behind every theory by using real experiences of life.
Its theories are not taken place, then the practice is also not works.
(2).
The cutting-edge management does now no longer recognize the time period.
The time period is run away with power train, that visual aspect too state-of-the-art for the cutting-edge management.
Leadership improvement packages for the Gen Y can handiest be carried out whilst false impression is removed.
There is a lot of confusion among what the Gen Y millennials need to accomplish, and the expected fulfillment targets being set through the cutting-edge management.
Therefore, there are the difference between the theory and practice.
Learn more about leadership, refer to:
https://brainly.com/question/7177953