The Operations Manager for a Local Bus Company Wants to Decide

question 8

Multiple Choice

The operations manager for a local bus company wants to decide whether he should purchase a small, medium, or large new bus for his company. He estimates that the annual profits (in $000) will vary depending upon whether passenger demand is low, medium, or high, as follows:
If he feels the chances of low, medium, and high demand are 30 percent, 30 percent, and 40 percent respectively, what is the expected annual profit for the bus that he will decide to purchase?

• A) $15,000
• B) $61,000
• C) $69,000
• D) $72,000
• E) $87,000

Understand the role and function of Consumer Credit Counseling Services (CCCS) in debt management.

Identify the legal frameworks and consumer rights under bankruptcy law.

Recognize the impact of bankruptcy among different demographic groups.

Differentiate between various types of bankruptcy and their consequences.

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Definitions:

Ability to Pivot

The capacity of a business or individual to quickly adapt and change direction in response to new opportunities or challenges.

Jeremiah's Potential Reaction

A speculative assessment of how an individual named Jeremiah might respond to a specific situation or piece of information.

Small and Big Failures

Events or outcomes that do not meet established objectives, varying in scale from minor to major setbacks.

Poor Business Model

A framework for creating value that is flawed or ineffective, leading to business instability, financial loss, or failure.