If a Vendor Has Correctly Used Marginal Analysis to Select

question 47

Multiple Choice

If a vendor has correctly used marginal analysis to select their stock levels for the day (as in the newsperson problem) , and the profit resulting from the last unit being sold (C_u) is $0.90 and the loss resulting from that unit if it is not sold (C_o) is $0.50, which of the following is the probability of the last unit being sold?

• A) Greater than 0.357
• B) Greater than 0.400
• C) Greater than 0.556
• D) Greater than 0.678
• E) None of these

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Definitions:

Employee Training

The process of providing workers with the knowledge, skills, and abilities required to perform their job effectively.

Raising Morale

Taking actions that have a positive impact on employee satisfaction and work performance, including introducing a group bonus, allowing job autonomy, providing training, assigning whole tasks, gaining direct feedback from users, and increasing group interaction. See morale.

Morale Problem

Issues related to the decline in confidence, enthusiasm, and discipline among members of a group or team.

Honor

A sense of ethical conduct and integrity, often associated with esteem or respect.