Use the Information Below to Answer the Following Question(s)

question 75

Multiple Choice

Use the information below to answer the following question(s) :
The materials manager for a billiard ball maker must periodically place orders for resin,one of the raw materials used in producing billiard balls.She knows that manufacturing uses resin at a rate of 50 kilograms each day,and that it costs $.04 per day to carry a kilogram of resin in inventory.She also knows that the order costs for resin are $100 per order,and that the lead time for delivery is four (4) days.Assume 365 days in a year.
-At what point should resin be reordered?

• A)0 kilograms remaining
• B)50 kilograms remaining
• C)200 kilograms remaining
• D)400 kilograms remaining

Understand the broad impact of marketing activities on various stakeholders including stockholders, suppliers, employees, customers, and society.

Identify how specific marketing activities create value for both buyers and sellers.

Describe the essential components of the marketing mix and how they are used to market products.

Recognize the concept of marketing exchanges and how they benefit both parties involved.

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Definitions:

Discrete Random Variable

A random variable that can take on only a finite or countably infinite set of distinct values.

Text Messages

Short, digital communications sent over cell phone networks.

Probability Distribution

A mathematical description of the range of possible outcomes of a random variable, including the frequency or probability of each outcome.

Probability Model

A mathematical representation of a random phenomenon, characterized by its sample space, events within the sample space, and probabilities associated with each event.