P(q) ≈ Total Profit for creating (and selling) q units, while R has been the revenue per unit, according to the computation above.
What is profit and example?The personal profit a business has when revenue exceeds costs and expenses is frequently referred to as profit. One glass for lemon, for instance, costs young child at a raspberry syrup stand one quarter. She then charges $2 for the beverage. Her earnings from the glass of lemonade is around $1.75.
Briefing:The mathematical formula used to calculate profit is:
VC=LC+MC
TC(q)=FC+(VC*q)
TR(q)=R*q
P=TR(q)-TC(q)
Here, quality is q, overall cost of manufacturing is TC, fixed expenses is FC, expenditure is VC, labor cost is LC, cost of production is MC, per unit cost is MC, total revenue is TR, and revenue per unit is R.
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all of these are consumer-oriented sales promotions except which?
All of these are consumer-oriented sales promotions except trade shows.
What are consumer-oriented sales promotions?In order to increase interest or demand in its goods or services, a firm may employ a temporary campaign or offer as part of a sales promotion. To convince customers to purchase a product, marketers employ a tactic known as consumer sales promotion.
The promotions often have a predetermined duration and have a specific objective, like boosting market share or introducing a new product. Customers' requirements and habits are understood through user and target market research, which is then used to create the ideal strategy for connecting with and converting them. The instruments for consumer-oriented promotion are designed to increase sales to current customers and draw in new clients for the businesses.
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The complete question is:
All of the following are consumer-oriented sales promotion EXCEPT:
A. samples
B. bonus packs
C. trade shows
D. refunds/rebates
the company has its camera and drone assembly facilities in: a)Thailand b)South Korea c) the United Statesd)Japan e)Taiwan
The business enterprise has its digital digicam and drone meeting centers in e)Taiwan.
The required details about Taiwan is mentioned in below paragraph.
Taiwan is famous for generating some specific things. Most well-known of all are its electronics and their components. These Taiwanese merchandise aren't arbitrarily well-known – they make up a large part of Taiwan’s exports and that they run the gamut of the entirety electric, from flat screensto contact screens, microchips to optical drives, etc.No rely what logo or sort of laptop you’re analyzing this on, the probabilities are overwhelming that a few part, or most, of what’s interior of it was made in Taiwan. The island of Formosa is the world’s biggest unmarried laptop chip producer, and that they made high-quality breakthroughs in contact display era that has spurred the cellphone revolution.
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chess is an example of a(n) _____-move game because each player must wait his or her turn to move and each player bases decisions on what the other player did previously.
Chess in an example of a sequential move game because each player must wait his or her turn to move and each bases decisions on what the other player did previously.
Why is Chess a sequential game?In game theory, a sequential game refers to a game where one player chooses their action before the others choose theirs. Here, the other players do have an information on the first player's choice so that the difference in time has no strategic effect. A sequential games are governed by the time axis and represented in the form of decision trees and with perfect information, they can be analysed mathematically using combinatorial game theory.
A combinatorial games are also usually sequential games. Some games such as chess, infinite chess, backgammon, tic-tac-toe and Go are examples of a sequential games.
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if a company reports a net loss it means
Answer: Negative net profit
Explanation:
A net loss occurs when the sum total of expenses exceeds the total income or revenue generated by a business, project, transaction, or investment.
Answer: Negative net profit
Explanation:
A client uses a perpetual inventory system. Would one expect a credit to which of the following accounts at the point of sale?Sales InventoryA. Yes YesB. Yes NoC. No YesD. No NoMultiple ChoiceOption AOption BOption COption D
YES NO, the correct answer is option (B).
what is periodic inventory system?
The stock control system is a method of actually counting the inventory at present intervals in order to value it for the purposes of financial reporting. This method of accounting involves taking inventory at the beginning of each shift, adding new stock items over the course of the period, and deducting ending inventories to determine the cost of the goods sold (COGS).Under the periodic inventory approach, a company won't be aware of its unit product offerings or COGS until the entire operation is complete.
For a business with a tiny proportion of SKUs working in a slow industry, this approach might be appropriate, but for all other businesses, the permanent inventory management system is favoured for the following important reasons:
The periodic approach is time-consuming and might result in stale figures that are less relevant to management. The everlasting existing system refreshes the determines the appropriate registry in an industry's database management system, improving processes an instantaneous view of inventory.To learn more about periodic inventory system:
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TRUE/FALSE. business class computers typically have more hardware consistency through time than consumer market machines.
TRUE. Business class computers typically have more hardware consistency through time than consumer market machines.
What are business class computers?
Business class computers are made to last longer and are intended to be used more frequently. Consumer class computers typically employ poorer quality components and aren't built to last as long as business class computers do in order to give a lower price.
A business laptop is made specifically for commercial use. Compared to laptops designed for personal use, manufacturers tailor business laptops for travel and extended durations of use. A professional laptop will therefore have longer battery life, faster processing, and greater power to support a 40-hour workweek.
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A project manager joins a project that has the following features: -Globally distributed team -Budget that is fixed -Very tight deadlines During planning, what should the project manager do to avoid any scope creep and keep the team focused on delivering a product that meets requirements?
In order to prevent scope creep & keep the group concentrated on producing a product that satisfies criteria, the project manager, Organize a bidders' meeting with the service suppliers.
What you mean by a project?An project is just a set of tasks that must be finished in order to accomplish a specific goal. A project may alternatively been defined as a collection of outcomes and inputs necessary to accomplish a specific objective. Projects can be handled for one person or one thousand, they can be simple or complex.
What means project work?Work that is focused upon accomplishing a job is called project work. Project work typically requires a lot of resources, involving time, people, and materials, and it allows students to practice a variety of abilities and linguistic structures.
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Alan is recording payroll that was processed outside of QuickBooks. Which QuickBooks function would be most useful? Payroll summary Pay bills Journal entries New invoice
Answer:
what are the answers
Explanation:
to the question
if your monthly expenses total $2,500, you should save at least in an emergency fund before focusing on your investment program.
So, if your monthly expenses add up to $2,500, you'll need to save $7,500 to reach three months of emergency savings.
How much money should be set aside for an emergency fund?In spite of the fact that the size of your emergency fund will vary depending on your lifestyle, monthly spending, income, and dependents, the general rule is to save three to six months' worth of expenses.
How is emergency fund ratio determined?As a general rule, people should have three to six months' worth of living expenses saved up in an emergency fund. The amount you need for a month's worth of essential living expenditures should be multiplied by three or six, depending on how much you feel most comfortable having on hand in case of need.
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a purse contains four $1 bills, five $10 bills and two $5. the odds of pulling out a $1 bill on the first draw are
A purse contains four $1 bills, five $10 bills and two $5. the odds of pulling out a $1 bill on the first draw are 4/11.
A little money bag or pouch designed for holding coins is referred to as a purse or coin purse. The majority of Commonwealth nations refer to it simply as a purse, although in the United States, the term "purse" often refers to a handbag.
Bursary, which shares the same root as "purse" and refers to a monetary award in a competition, can also be used interchangeably. The oldest pocketbook ever discovered was discovered with the Iceman Tzi, who lived approximately 3,300 BC. Egyptian hieroglyphs, which depict pouches worn around the waist, provide another early example.
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Remaining-Balance Method is a method of computing interest, with which, interest is calculated by multiplying the principal outstanding by the effective rate for the period in question. True/False
Remaining-Balance Method is a method of computing interest, with which, interest is calculated by multiplying the principal outstanding by the effective rate for the period in question. False
The difference between the future value of the initial loan amount (minor) and the future value of the annuity is represented by the remaining balance formula (diminutive). The value at time n if no payments were made is equal to the initial loan amount's future value.
The unpaid fraction of a loan, debt, or credit card balance is represented by the remaining balance. The loan's current outstanding balance is calculated using the remaining balance formula. For instance, this particular method can be applied to calculate the loan's total remaining balance. The value at a future time can be calculated using this formula in the present.
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Identify the actions taken by the fed to assist banks during the financial crisis of 2008. check all that apply.
The actions taken by the fed to assist banks during the financial crisis of 2008 is The Federal Reserve took an expansionary approach during the crisis. This was done by expanding the money supply and boosting liquidity.
This can be seen in the Fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. The Federal Reserve and different significant banks reacted to the deepening disaster withinside the fall of 2008 now no longer best via way of means of establishing.
New emergency liquidity facilities, however, additionally via way of means of decreasing coverage hobby quotes to shut to 0 and taking different steps to ease economic conditions. Toward the quilt of 2008, the recession deepened with the chance of a massive financial coverage price range charge shortfall. In response, the Fed extended its stability sheet rules in an effort to decrease the price and enhance the provision of credit score to families and businesses.
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Answer:
Explanation:
c d e
ajax manufacturing produces a single product, which takes 8.0 pounds of direct material per unit produced. the company's policy is to maintain an end-of-quarter inventory of materials equal to 25 percent of the following quarter's material requirements for production. assume it is currently end of the first quarter of the new year, and that at the end of the prior 4th quarter, there were 76,000 pounds of material on hand.
a. Product produced 38000 units
b. Direct materials requirements 334400 lbs.
Define direct materials costThe total cost of all raw materials (also known as productive materials, raw materials, raw stock, and stocks), as well as specialized parts and sub-assemblies, utilized in the manufacturing process is divided by the number of units produced to arrive at the direct materials cost (DM) per unit.
Given:
One unit of a product takes 8.0 pounds of direct materials to produce
Each quarter has closing inventory of direct materials enough to produce 25% of planned production.
Therefore if 76,000 pounds of material is the closing inventory of previous quarter, it is equal to produce 25% of planned production this quarter.
Units of product planned for production = (closing inventory of materials / 8 pounds per material) /25%
Implies, the product produced in Q1 is:
Product produced = (ending inventory of materials / 8 pounds) /25%
= (76,000/8) /25% = 38000
38,000 units were planned to be produced in Q1 of new year.
If the production increases by 10% in the 2nd quarter, the planned production for Q2 is:
planned production for Q2
= Produced produced + produced produced × 10%
= 38,000 + 38,000 × 10%
= 41800
The direct material to produce the above quantity is:
Direct material required for Q2
= planned production for Q2 × 8 pounds per unit
= 41800 × 8 = 334400
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The complete question is:
Ajax Manufacturing produces a single product, which takes 8.0 pounds of direct materials per unit produced. The company's policy is to maintain an end-of-quarter inventory of materials equal to 25 percent of the following quarter's material requirements for production. Assume that it is currently at the end of the first quarter of the new year, and there were 76,000 pounds of material on hand.
a. How many units of product were produced in the first quarter of the year?
b. Under the assumption that production will increase by 10 percent in the second quarter, what are the direct materials requirements (in pounds) for planned production in the second quarter?
a. Product produced units
b. Direct materials requirements lbs.
Which of the following accounts is credited by the seller when tax is collected on retail sales?! O A. Payroll Tax OB. Sales Tax Payable O c. Unearned Revenue OD. Accounts Payable
Sales Tax Payable accounts is credited by the seller when tax is collected on retail sales. Hence option (b) is the answer.
Is sales tax payable liability or expense?The total amount of sales taxes a company has gathered from clients on behalf of a governing tax authority is maintained as sales taxes payable. The company is responsible for timely remitting these monies to the government as the custodian of those funds. Typically, sales tax and use tax are shown as current liabilities on the balance sheet.
Due to the fact that the tax is a proportion of overall sales, they are both paid directly to the government and are based on the number of goods or services sold. The sales tax collected from customers on behalf of the overseeing tax authority is recorded in the balance sheet as a liability account called Sales Tax Payable.
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Observing "with binoculars" involves
Multiple Choice
overcoming bias by looking at alternate perspectives.
looking at a situation in an unrealistically favorable light.
being mindful when observing.
stepping back from a situation.
Observing "with binoculars" involves looking at a situation in an unrealistically favorable light.
Thus, the correct option is B.
What do you mean by Observation?One way to get information for study is through observation. It entails keeping track of pertinent behavior while observing a participant for later analysis.
When a researcher wants to look at how kids share toys, for instance, they can use the observational technique of research. He could watch some kids playing in the classroom and note what they say or do that influences who gets to use a prized object.
The observation approach has the benefit of offering concrete proof of the event under study. In the aforementioned illustration, the researcher obtains information on the children's actual ability to share or not share.
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According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then a. both the price level and nominal GDP would rise by 5 percent. b. the price level would rise by 5 percent and nominal GDP would be unchanged. c. the price level would be unchanged and nominal GDP would rise by 5 percent. d. both the price level and nominal GDP would be unchanged.
Option (B). The price level would rise by 5 percent and nominal GDP would be unchanged.
Which is the assumption of quantity theory of money?
The Quantity Theory of Money (QTM) also assumes that the amount of money in an economy has a large impact on its economic activity. Changes in the money supply therefore lead to changes in the price level, changes in the supply of goods and services, or both.
What do you mean by Price level?
The price level is the average current price across the range of goods and services produced in an economy. More generally, price level refers to the price or cost of goods, services, or security in the economy.
How can you find the price level?
But how do you find the price level? Economists measure the price level with a price index. A price index is a number whose movement reflects the movement of the average price level. A 10% increase in the price index means a 10% increase in the average price level.
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sharing ____ updates is a useful tool for maintaining relationships within your larger network.
Sharing mass personal communication updates is a useful tool for maintaining relationships within your larger network.
Sending messages from the sender to the receiver is referred to as communication. There are therefore many different ways to transmit communications, and due to current technology, there have also been changes in how we interact with others. The media currently acts as a medium for the transmission of messages and information.
The mass personal communication approach combines interpersonal communication's ability to customize messages with mass communication's benefit of spreading information to a larger audience.
Therefore, mass personal communication is a very useful method to connect and communicate with the larger audience.
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the historical discount rate of the firm may be a good indicator of the appropriate discount rate to apply to the firm in the future, when all of the following conditions hold true except:
The discount rate is used to discount the future cash flows of a stock must be the equity cost of capital for the stock.
What is the discount rate's mathematical formula?The two basic formulas for calculating the discount rate are the weighted average cost of capital (WACC) and the adjusted present value (APV). The WACC discount formula is: WACC = E/V x Ce + D/V x Cd x, whereas the APV discount formula is: APV = NPV + PV of the impact of financing (1-T).
What does the discount rate for NPV imply?Either the cost of borrowing money or the anticipated rate of return for investors. If shareholders expect a return of 12%, the company will use that rate to calculate NPV. If the company pays 4% interest on its debt, it is permitted to use 4% as the discount rate.
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Inaccurate forecasts can result in negative outcomes like: O High inventory costs and increased profits O Low inventory costs and stockouts O Imbalances in supply and demand O Material shortages and decreased costs of obsolescence
Inaccurate forecasts can result in negative outcomes like Imbalances in supply and demand. Thus the correct option is C.
What is the Outcome?Any topic's outcome gives information about the subject, including the major point, which aids the reader in evaluating the topic's advantages and disadvantages and formulating a conclusion as a result.
The availability of the desired item on the market is referred to as supply. If the supply of the requested commodities is not met, there is scarcity, which is brought on by an imbalance between supply and demand as a result of poor forecasting.
Inaccurate forecasting might result in poor judgments that harm your business rather than support your development strategies.
Therefore, option C is appropriate.
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miranda is in school learning to be a welder. she spends long hours studying (and drinking coffee) and long hours practicing in the hot, dirty shop (and therefore takes frequent showers). miranda has $70.00 per month to spend on the soap and coffee she needs to function properly. in the accompanying graph, move the bc line to correctly depict miranda's budget constraint, assuming the soap costs $3.50 per bottle, and the coffee costs $14.00 per pound. if a point will not go where you want to put it, try placing the other endpoint there. then choose the best description of the lettered points according to whether they describe baskets of goods that are unaffordable, affordable and exhaust miranda's budget, or affordable with money left over.
Price of soap=3.5
Price of coffee=14
Income=70
Soap bought=0
Coffee bought=70/14=5
Coffee bought =0
Soap bought=70/3.5=20
coffee is a drink prepared from roasted coffee beans. Darkly colored, bitter, and slightly acidic, espresso has a stimulating impact on humans, in general, due to its caffeine content material. it is the most popular warm drink in the world. Seeds of the Coffea plant's culmination are separated to produce unroasted green coffee beans. The beans are roasted and then floor into exceptional particles that are typically steeped in warm water before being filtered out, producing a cup of espresso. it also includes served warm, although chilled or iced espresso is common.
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 Which of the following best describes how each share of par value stock issued is reported in the Common Stock account? Multiple Choice Lower of cost or market O ) Current market value O Average issue price O O Par or stated value Which of the following describes, in part, how the declaration of a stock dividend affects the elements of the financial statements? Multiple Choice Decreases paid-in capital in excess of par value-common Decreases total assets o no effect on total No effect on total stockholders' equity o oo Increases total stockholders' equity How does the payment of a previously declared cash dividend affect the elements of the financial statements? Multiple Choice None of these answer choices are correct. Increases liabilities and decreases stockholders' equity o Decreases liabilities and increases stockholders' equity oo Decreases assets and stockholders' equity
A common stock account is a general ledger that records the par value of all common stock issued by a company. If these shares are sold for more than their par value, the excess amount will be posted separately to an additional deposit account.
At issuance, common stock is recorded at par and any amount received in excess of par is recorded in the account as equity in excess of par. If spent on assets or services instead of cash, recognition is based on the fair value of the shares given.
Equity refers to the assets remaining in the company after all liabilities have been settled. This figure is calculated by subtracting total liabilities from total assets. Alternatively, it can be calculated by subtracting treasury shares from the sum of share capital and retained earnings.
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Exquisite Jewelers is developing its annual financial statements for 2015. The following amounts were correct at December 31, 2015: cash, $58,000; accounts receivable, $71,000; merchandise inventory, $154,000; prepaid insurance, $1,500; investment in stock of Z corporation (long-term), $36,000; store equipment, $67,000; used store equipment held for disposal, $9,000; accumulated depreciation, store equipment, $19,000; accounts payable, $52,500; long-term note payable, $42,000; income taxes payable, $9,000; retained earnings, $164,000; and common stock, 100,000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share).
1) Based on these data, prepare a December 31, 2015, balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
Image for Exquisite Jewelers is developing its annual financial statements for 2015. The following amounts were correct
Article 112 of the Constitution requires the authorities to existing to Parliament a statement of estimated receipts and expenditure in recognize of each economic year, from April 1 to March 31.
This statement is known as the annual economic statement.
What is the purpose of annual economic statements?Financial statements supply a image of a corporation's financial health, giving perception into its performance, operations, and money flow. Financial statements are vital due to the fact they supply records about a company's revenue, expenses, profitability, and debt.
Revenue and capital sections collectively shape the Union Budget, so the Annual Financial Statement is essentially the Budget of the government.
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https://brainly.com/question/14615122#SPJ4Marginal revenue is the difference between output effect or price and the _____ effect for a given quantity.
1discount
2profit
3sales
4output
Marginal revenue is the difference between output effect or price and the sales effect for a given quantity. Hence, option C is correct.
What is Marginal revenue?Marginal revenue is the additional income generated by selling one more unit of output. Although marginal revenue can remain constant at a given level of output, the law of diminishing returns eventually causes it to start declining as output level increases.
To calculate a company's marginal revenue, divide the variation in its total revenue by the variation in its total output volume. Marginal revenue is the selling price of one additional item that was sold. Marginal Revenue = Change in Revenue / Change in Quantity is the formula used to determine it.
Thus, option C is correct.
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the broccoli market is perfectly competitive. this means that the price of broccoli is than the price would be if the market was monopolistically competitive, and broccoli output is than if it was monopolistically competitive. a) higher; lower b) higher; higher c) lower; higher d) lower; lower
The broccoli market is perfectly competitive, this means that the price of broccoli is lower than the price would be if the market was monopolistically competitive, and broccoli output in the market is higher than if it was monopolistically competitive.
What is a monopolistic competition?A monopolistic competition refers to a type of imperfect competition that exist when there are many producers competing against each other but selling products that are differentiated from one another and hence are not perfect substitutes
A restaurants, hair salons, household items, and clothing are examples of industries with monopolistic competition.
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for this question, assume that a country experiences a permanent increase in its saving rate. which of the following will occur as a result of this increase in the saving rate? group of answer choices a permanently faster growth rate of output a permanently higher level of output per capita a permanently higher level of capital per worker all of these a permamently higher level of output per capita and capital per worker.
As a result of the permanent increase in the savings rate, the country would see:
a permanently higher level of output per capitaa permanently higher level of capital per workerWhat happens when there is a permanent increase in savings rate ?When a country has a permanent increase in the savings rate, this means that there will be more sources of loanable funds in the society and so the interest rates on loans will fall.
This would allow companies and individuals to borrow money which can be invested in the economy thereby leading to higher levels of output and capital per capita and worker, respectively.
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if the fed decreases the reserve requirement from 10% to 5%, the money multiplier will and the money supply will most likely .
If the Fed decreases the reserve requirement from 10% to 5%, the money multiplier will increase and the money supply will most likely increase.
The fundamental financial idea that states the total amount of an exact service or product this is available to clients is known as 'deliver. ' it is very carefully related to and is going hand in hand with the call for. when supply exceeds the call for a product or service, the fees of said product fall.
The unique amount is the quantity of a product that a retailer wants to promote at a given fee is referred to as the amount provided. generally, a term is also given whilst describing the quantity provided for instance: when the charge of oranges is 65 cents the amount provided is 300 oranges every week.
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What happens during a bank run?
a. Customers withdraw more money than the bank has on hand.
b. The federal government orders all banks to close.
c. States charter more banks than their citizens need.
d. the price of gold specie suddenly increases.
In the years leading up to the War of 1812, the U.S. economy had been on the upswing.
b. The federal government orders all banks to close.
The war with Britain, however, disrupted foreign trade. As one of the United States’ largest trading partners, Britain used its navy to blockade U.S. trade with other nations.
The war prevented U.S. farmers and manufacturers from exporting merchandise, blocked U.S. merchants and fisherman from sailing the high seas, and curtailed federal government revenues, which were derived mainly from tariffs on trade.
By 1815, the United States found itself heavily in debt, much like it had been at the end of the Revolutionary War thirty years earlier.
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a business incurs a ___________ if its costs and expenses exceed its revenues.
Which Agile Team event supports relentless improvement?
• Iteration Retrospective *
• Backlog refinement
• Iteration Planning
• Iteration Review
A Product Manager is working for an insurance company and is responsible for the internal systems used for managing claims. This is an example of what kind of Value Stream?
• Development Value Stream *
• Operational Value Stream
• Customer journey Value Stream
• Claims processing Value Stream
Which function is responsible for ensuring that the Agile Release Train has the content needed to successfully engage in Program Increment Planning?
• Release Train Engineer *
• Lean-Agile Center of Excellence
• Product Owner
• Product Management
What is the purpose of Iteration Goals?
• To align the team members and the Product Owner (PO) to the mission
• To ensure the team accomplishes all the committed Stories each Iteration *
• To provide the baseline required for measuring the team's performance
• To hold the team accountable to their goal
An Agile Release Train (ART) has implemented a completely automated Continuous Integration/Continuous Delivery (CI/CD) pipeline that can deploy code as it is checked into the source-code repository. How might a Product Owner (PO) adjust team events to take advantage of this capability and promote the flow of value?
• Identify Stories that are cleared for automatic delivery during Iteration Planning
• Release Stories that have been included in the team demo
• Review and accept Stories as they are completed
• Implement Feature toggles to control which Stories are released *
I put an asterisk next to the choices I think it is. Thanks for your help.
1. The Agile Team event supporting relentless improvement is A. Iteration Retrospective because it enables Agile Team members to discuss Iteration results, review practices, and identify improvements.
2. When a Product Manager works for an insurance company and is responsible for the internal systems for managing claims, it shows an example of B. Operational Value Stream.
3. 3. The function responsible for ensuring that the Agile Release Train has the content to engage successfully in Program Increment Planning is D. Product Management because they work with customers and Product Owners to understand, communicate and participate in solution validation.
4. The purpose of Iteration Goals is A. To align the team members and the Product Owner (PO) to the mission, ensuring agreement on the intended business value, team objectives, and shared purpose.
5. A Product Owner (PO) might adjust team events by A. identifying stories that are cleared for automatic delivery during Iteration Planning.
What is an Agile Team?An Agile Team (a scrum team) consists of the product owner, the scrum master, and the development team members.
In forming an Agile Team, employees, contractors, or freelancers can be selected and made responsible and wholly dedicated to executing the Agile project without any obligations to other projects.
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Which of the following statements is true of explicit switching costs?
a. Explicit switching costs involve a penalty levied for terminating a deal or contract.
b. Explicit switching costs are recurring in nature.
c. Explicit switching costs are variable in nature.
d. Explicit switching costs are concerned with the indirect costs in time and money.
A penalty assessed for breaking a transaction or contract is referred to as an explicit switching cost.
What is a good illustration of the a switching cost?For instance, it would be difficult to compete with a grocery store if it provided free delivery but none of its rivals did. Because switching to the a different food store that does not offer free delivery would cost customers more money, time, and effort, the supermarket does have a high switching cost.
What are the alleged switching costs?Therefore, reported switching costs are a product of subjective assessment of experience and/or observation of others' relationship experiences; as a result, purchasers may feel switching costs of the a relationship without switching from a seller.
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