Zimmer Centralpulse Is the World's Largest Producer of Replacement Hips

question 141

Multiple Choice

Zimmer Centralpulse is the world's largest producer of replacement hips and knees for orthopedic surgery.It is particularly interested in marketing in the southwestern United States,where a large aging population lives.Which external environmental element most directly explains its continued growth?

• A) economic conditions
• B) political conditions
• C) culture
• D) demography
• E) social forces

Understand the treatment and implications of material price variances.

Understand the applications of standard cost systems in production and cost control.

Identify the difference between theoretical standards and practical standards and their effect on employee motivation and performance evaluation.

Understand the concept and application of standard costs in cost management and product costing.

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Definitions:

Probability

A statistical measure representing the chance or likelihood that a particular event will happen, expressed as a fraction or percentage.

NPV Value

Net Present Value, a calculation used in finance to determine the value of a series of future cash flows projected to be received or paid, adjusted for the time value of money.

Probability

A scale from 0 to 1 used to quantify the likelihood of an event's occurrence.

Sensitivity Chart

A graphical method used to display how the uncertainty in the output of a mathematical model or system can be apportioned to different sources of uncertainty in its inputs.