Question

Mango Electronics Inc. is a Fortune 500 company that develops and markets innovative consumer electronics products. The development process proceeds as follows.

Mango researches new technologies to address unmet market needs. Patents are filed for products that have the requisite market potential. Patents are granted for a period of 10 years starting from the date of issue. After receiving a patent, the patented technologies are then developed into marketable products at 5 independent development centers. Each product is only developed at one center. Each center has all the requisite skills to bring any of the products to market (a center works on one product at a time). On average, Mango files a patent every 8 months (with a standard deviation of 8 months). The average development process lasts 29 months (with a standard deviation of 58 months).

(a) What is the utilization of Mango’s development facilities? (Round your answer to two decimal places.)

The utilization of Mango's development facilities is ___ %?

(b) How long does it take an average technology to go from filing a patent to being launched in the market as a commercial product? (Round your answer to one decimal places.)

The total time is ___ months?

(c) How many years of patent life are left for an average product launched by Mango Electronics? (Round your answer to one decimal places.)

Number of year patient life are left for a product is __ years?

Answer 1