For a Marketing course: What skills from this course would you use to create a three-paragraph promotional tool that explains th

<span>Descriptive Statistics is employed in this case (please provide feedback, thanks)</span>

Answer:

A. 50

B. 4%

Explanation:

To determine the number of new MBA graduates that Mt. Kinley must recruit annually, we calculate the flow rate of associates by dividing the average number of associates by the flow time for associates.

Requirement A:

Flow rate of associates = Average inventory of associates / Flow time of associates

Flow rate of associates = 200/4

Flow rate of associates = 50

Thus, the company needs to hire 50 new MBAs each year.

Requirement B

The likelihood of an associate advancing to partner is 20% x 20%

This results in a probability of 4% for an associate to become a partner

Therefore, the probability that a new employee at Mt. Kinley will be promoted to partner stands at 4%

Working

The manager flow rate equals the average inventory of managers divided by their flow time

The flow rate of managers = 60/6

The flow rate for managers totals 10 per year

For partners, the flow rate is calculated as the average inventory of partners divided by their flow time

The flow rate of partners = 20/10

This results in 2 partners per year

The probability of an associate becoming a manager is given by 10/50

yielding a probability of 20%

The chances of progressing to partner stands at 2/10

indicating a 20% chance of becoming a partner

a) The finance charge totals $1,100. b) The APR stands at 9.75%. The amount needing to be financed comes to 11,000 - 4,000 = $7,000, while the total repayment equals 225 x 36 = $8,100. Thus, the finance charge is derived from the total repayment minus the financed amount, yielding $1,100. For part b), we apply the present value formula for annuities to determine the monthly interest rate i: Amount needing financing = (monthly installment x i) / [1 - (1+i)^-36], equating to 7,000 = (225/i) x [1 - (1+i)^-36], giving us i = 0.811%, which translates to APR = 12 x i = 9.732%.

A) For the first half of the year, the monthly demand averages to 560 / 6 = 93.33
Order size for the first six months can be calculated using: Sqrt(2 x A x O / C)
Where:
O is the cost of placing an order
C is the carrying cost per order
= Sqrt(2 x 93.33 x 55 / 2) = 71.65, rounded to 72
For the second half of the year, the monthly demand is 900 / 6 = 150
Order size for the second six months:
= Sqrt(2 x A x O / C)
= Sqrt(2 x 150 x 55 / 2)
= 90.83 or 91
B) For the first six months: Total monthly cost = (Q/2) x H + (d/Q) x S= (72 / 2) x 2 + (93.33 / 72) x 5 = $143.30 With a $10 discount, S = $ 55 - $10 = $ 45
Monthly TC at Q = 50 = (50/2) x 2 + (93.33 / 50)x 45 = $134.0 Monthly TC at Q = 100 = (100/2) x 2 + (93.33 / 100) x 45 = $142.00
Monthly TC at Q = 150 = (150/2) x 2 + (93.33 / 150) x 45 = $178.00
C)
Indeed, the manager should take advantage of this proposal and order Q = 50 units for the first six months. For the second six months, d = monthly demand = 900 / 6
= 150,

H = $2.00 for each unit monthly, S = $55, & EOQ = 91.
Calculating Monthly TC (Q = 91):
= (91/2) x 2 + (150/91) x 55
= $181.66
Monthly TC (Q = 50):= (50/2)x2 + (150/50)x 45= $185 Monthly TC (Q = 100) = (100/2) x 2 + (150/100) x 45= $167.50
Monthly TC (Q = 150)= (150/2) x 2 + (150/150) x 45= $195