William E. Story agreed to pay his nephew, William E. Story II, $50,000 if he refrains from drinking liquor, using tobacco, swearing, and playing cards or billiards for money until he should come to be 21 years of age. William E. Story II refrained from all the things his uncle listed until he was 21 years of age. Shortly after his 21st birthday, William E. Story died. His executor refused to pay the money. He believed that there was no contract because there was no consideration. Using IRAC, how would you decide this case?
In: Operations Management
Question 9 options:
A "What-If" analysis:
A department store sells two popular models of wireless headphones, model A and model B. The sales of these products are not independent of each other. Economists call these “substitutable products” because if the price of one increases, more people will choose to substitute the other product and sales of the other will increase.
The electronics manager wants to calculate prices that maximize revenue from these two products. Price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model:
NA = 13 – 0.45
PA + 0.35
PB
NB = 30 + 0.12
PA – 0.64 PB
A spreadsheet for calculating the total revenue for various values of PA and PB is displayed below. It has been designed with the two prices as input parameters that are easily varied.
| Price A | 19 |
| Price B | 26 |
| Number sold A | =13-0.45*B1+0.35*B2 |
| Number sold B | =30+0.12*B1-0.64*B2 |
| Total Revenue | =B1*B3+B2*B4 |
Copy-and-paste, or type, the Excel information given above into cells A1:B5 of an Excel spreadsheet.
Develop a two-way data table to estimate the optimal prices of each of the two products in order to maximize the total revenue.
Vary the price of each product from 25 to 40 in increments of 1.
Round the Total Revenue to two (2) decimal places.
Optimal Price A =
Optimal Price B =
Total Revenue =
In: Operations Management
The 3 factors of the formal negotiation process that are involved in a win-win negotiation strategy (Integrative negotiation based on a win-win assumption)
Which one do you do best? Explain. b. Which strategy do you need to improve upon? Explain.
In: Operations Management
identify the elements of the marketing mix for Bobby Brown. what marketing mix recommendations do you suggest?
Subject: Marketing
In: Operations Management
In terms of team STRUCTURE, describe some inefficiencies and how they can be improved?
In: Operations Management
What recommendations do you have regarding the marketing mix of the product analyzed? TOPIC: BOBBY BROWN
Subject: Marketing
In: Operations Management
Discuss each of the 7 steps in Questionnaire Design.
In: Operations Management
Analyze the challenges in the development of effective health information infrastructure (HII). Discuss how to address these challenges.
In: Operations Management
Provide a reflection on what steps you would take, and what their outcomes would be, if you were to suddenly lose your health care benefits and needed to apply to the ACA program.
What could you expect based upon your coverage to be for yourself and your family,
In: Operations Management
From Chapter 22 Implementing Enterprise risk management.
JAA Inc.—A Case Study in Creating Value from Uncertainty: Best Practices in Managing.
Chapter 22: JAA Inc.—A Case Study in Creating Value from Uncertainty: Best Practices in Managing Risk
In: Operations Management
In regards to politics, what are some ways of identifying and assessing novelty?
In: Operations Management
What are the advantages and limitations of using break-even analysis to make decisions regarding which production process to utilize or whether to purchase the product or manufacture the product?
In: Operations Management
Intellectual property is work that is originally thought of by an individual and then created by that individual giving him/her the rights to such property. For this week’s discussion question respond to the following prompts:
In: Operations Management
How might Polaris Inc utilize a business-level cooperative strategy to create a competitive advantage?
In: Operations Management
A client report that describes an organization that you will provide an organizational intervention. Your evaluation as a change agent.
Q. Identification of what exactly needs to be change in the organization through using a diagnostic model about Alibaba Group.
In: Operations Management