For the past five years, Extreme Exposure Rock Climbing Center has enjoyed a local monopoly. Located in Sacramento, California, Extreme Exposure is the dream of Kyle Anderson, a former extreme sports participant who had to "retire" due to repeated injuries resulting from this activity. Kyle has worked hard to make Extreme Exposure the best rock-climbing facility in the northwestern United States. Kyle’s rock-climbing center has over 6,500 square feet of simulated rock walls to climb with about 100 different routes up to a maximum of 50 vertical feet.
Extreme Exposure’s design permits the four major climbing types: top-roping, where the climber climbs up with a rope anchored at the top; lead-climbing, where the climber tows the rope that he or she fixes to clips in the wall while ascending; bouldering, where the climber has no rope but stays near the ground; and rappelling, where the person descends quickly by sliding down a rope.
Climbers can buy daily or monthly passes or annual memberships. Rental cost for shoes and harnesses is inexpensive, and helmets are available free of charge as all climbers must wear protective helmets. In addition to individual and group climbing classes, Extreme Exposure has several group programs, including birthday parties, a kids’ summer camp, and corporate team-building classes.
Kyle notices a newspaper article about another rock-climbing center called The Krag, which will be built in Sacramento in the next six months. He notes the following items about The Krag that are different from Extreme Exposure:
- The Krag will have climbs up to a maximum of 60 vertical feet
- It will offer a climber certification program
- It will charter day trips to regional outdoor rock-climbing areas
- It will charter group overnight and extended-stay rock-climbing trips to the Canadian Rockies
- It will charge an annual membership fee that is about 20% lower than Extreme Exposure’s
Kyle chats with Dianne, one of his Extreme Exposure members who is in marketing, during a break in one of her climbing visits. Dianne summarizes what she believes Kyle needs to find out about his current members.
After reading the above case, do the following for each of the five research questions listed below :
Write out a sample questionnaire question that would get the data.
Identify the type of scale measure (nominal, ordinal, interval).
For those you identify as interval measures, identify the type of interval scale (Likert, Semantic Difference, Stapel).
What is the age of Extreme Exposure’s members?
How satisfied are members with Extreme Exposure’s climbing facilities?
How interested are its members in day trips to outdoor rock-climbing areas?
Do members think the fee charged by Extreme Exposure is too high or too low?
What do members value most: higher climbs, lower prices, trips to outdoor rock-climbing areas, or climbing certificate programs?
Answers
Collecting data on members' age, satisfaction, interest in outdoor trips, perception of fees, and value priorities enables Extreme Exposure to gain valuable insights and align its strategies to better meet member needs.
1. What is the age of Extreme Exposure’s members?
Sample Question: What is your age category?
Scale Measure: Ordinal (categories such as 18-24, 25-34, 35-44, etc.)
2. Sample Question: On a scale of 1-10, how satisfied are you with Extreme Exposure's climbing facilities?
Scale Measure: Interval (Likert scale ranging from 1 - Not satisfied at all to 10 - Extremely satisfied)
3. Sample Question: How interested are you in participating in day trips to outdoor rock-climbing areas organized by Extreme Exposure?
Scale Measure: Interval (Likert scale ranging from 1 - Not interested at all to 5 - Very interested)
4. Sample Question: Do you think the fee charged by Extreme Exposure is too high, too low, or just right?
Scale Measure: Nominal (Categorical options: Too high, Too low, Just right)
5. Sample Question: Please rank the following in order of importance to you: Higher climbs, Lower prices, Trips to outdoor rock-climbing areas, and Climbing certificate programs.
Scale Measure: Interval (Ordinal ranking scale where members assign ranks to the options, such as 1 - Most important, 2 - Second most important, etc.)
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Related Questions
Lena is a salesperson. As part of negotiation with her prospect during the sales process, Lena finds out what other competitors' products or services the prospect is considering. Thus, she gains insight into what the prospect is looking for and willing to pay. In this scenario, Lena is most likely in the _____ phase of negotiation.
Answers
Lena is most likely in the Investigative phase of negotiation.
In business, negotiation refers to the strategic discussion that takes place between the potential buyer and sellers who are trying to reach an agreement which favors both party.
The phase of Negotiation includes;
The investigation phase is the phase whereby both party are deciding the best price for themselves.The phase of determining the Best Alternative to a Negotiated Agreement (BANA)The presentation phaseThe bargaining phase is the phase of stating price from both partyThe closure phase.is the phase where conclusion have been reached.Therefore, in this case, Lena is most likely in the Investigative phase of negotiation.
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grandpa puts $50,000 into a bank account for you earning 4% compounded monthly. how much will you have in the account after 4 years if you don't make grandpa mad enough to take the money back before then?
Answers
If your grandpa has put $50,000 into a bank account for you earning 4% interest compounded monthly, after 4 years, you will have $67,977.48 in the account.
For calculation, first you need to calculate the total interest earned over the four years. To do this, you need to calculate the monthly interest rate by dividing 4% (0.04) by 12 to get 0.003333.
This number is multiplied by the $50,000 to get the monthly interest of $166.67. This monthly interest is then multiplied by 48 (the total number of months in 4 years) to get the total interest earned of $7,977.48.
To calculate the total amount in the account after 4 years, you add the initial investment of $50,000 with the total interest earned of $7,977.48 to get the grand total of $67,977.48.
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the government passed the cares act to address the economic fallout of the covid-19 pandemic. which of these provisions were included in the legislation?
Answers
Many of these projects were sustained by the Consolidated Appropriations Act by include new phases, funds, and instructions to address problems associated to the ongoing COVID-19 outbreak.
What is cares act?The Coronavirus Aid, Relief, and Economic Security Act, popularly known as the CARES Act, is a $2.2 trillion economic stimulus package passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in reaction to the economic impact of the COVID sickness.
The Coronavirus Aid, Relief, and Economic Security Act (CARES) allowed for longer unemployment benefits for laid-off workers as well as direct payments to individuals, significant monthly rebates to families with children, and direct payments to people. From March 13, 2020, to December 30, 2020, it was in force.
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Why is it virtually important to understand the fees your bank may charge on your checking account
Answers
Answer:
Explanation:
When a bank lends you money, it charges interest on the loan. When you open a deposit account, such as a checking or savings account, there are fees for that as well. It's important to know all the fees your bank charges, as well as how to reduce or eliminate as many of them as possible.
how can you solve circle geometry in a simple way
Answers
Answer: by using the formula A=pi(3.14) R(radius) squared
Explanation:
Hope that helped
The area is equal to pi multiplied by the square of the radius: a=π⋅r2.
The perimeter of a circle (called the circumference) is equal to pi times the diameter: C=π⋅d.
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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A finance question that I need help with.
Answers
Which quality is a requirement In order for a destination to become a tourism destination area (TDA)?
A. should be accessible by road
B. should be in a developed country
C. should have a unique feature
D. should have a moderate climate
Answers
Click this link to view O‘NET's Tasks section for Helpers Production Workers. Note that common tasks are listed
toward the top, and less common tasks are listed toward the bottom. According to O'NET, what common tasks are
performed by Helpers—Production Workers? Check all that apply.
examining products
observing equipment operations
designing products
managing budgets
lifting materials, products, and items
operating machinery used for production
Answers
Answer: • examining products
• observing equipment operations
• lifting materials, products, and items
• operating machinery used for production
Explanation:
According to O'NET, the common tasks are performed by Helpers—Production Workers include:
• examining products
• observing equipment operations
• lifting materials, products, and items
• operating machinery used for production.
It should be noted that the designing of products and the managenent of budgets is not the responsibility of the helpers production. Therefore, the correct options are 1, 2, 5 and 6.
Answer:
The other person is correct, the answers are A, B, E, F.
Explanation:
who is the CEO of Amazon
Answers
Which of the following are examples of directive behavior?
a. Utilizing one-way communication
b. Telling subordinate what is to be done
c. Telling subordinate how to complete the task
d. All of the above
Answers
d. All of the above. Directive behavior refers to a leadership style that involves providing clear instructions, specific guidance, and explicit expectations to subordinates.
It focuses on telling subordinates what needs to be done and how to accomplish tasks. All the options listed - utilizing one-way communication, telling subordinates what is to be done, and telling subordinates how to complete the task - are examples of directive behavior. Utilizing one-way communication means that the leader provides instructions and information without seeking input or feedback from subordinates. This approach is characteristic of directive behavior. Telling subordinates what is to be done involves clearly communicating the tasks, goals, and objectives to be accomplished. It leaves little room for interpretation and provides a direct instruction to the subordinates. Telling subordinates how to complete the task involves providing specific guidance, instructions, and methods for carrying out the assigned tasks. This approach ensures that subordinates follow a predetermined process or approach to complete their work. In summary, all the options mentioned are examples of directive behavior as they involve clear and explicit guidance from a leader to subordinates.
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Which is not a recognized sector of the U.S. economy?
public sector
social sector
self-interest sector
private sector
Answers
Consumers experience ______ marginal utility the more they consume of a particular good or service.
Answers
Answer:
less
Explanation:
The law of diminishing marginal utility states that, as consumption of a good or service increases, its marginal utility decreases.
_____ occur when the average unit cost of a good or service begins to increase as the capacity and/or volume of throughput increases.
Answers
The Economies of scale occur when the average unit cost of a good or service begins to increase as the capacity and/or volume of throughput increases.
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Describe one accountability issue of a business
Answers
Answer:
Accountability in the workplace is about employees taking responsibility and ownership for their decisions, actions, performance and behaviour. Accountability in the workplace is also about building trust and staying committed to doing the right thing for the business consistently.
Which of the following is NOT a problem caused by monopolies?
Select one:
Low quality
Fewer new products
Poor customer service
More competition
Answers
Answer:
Poor customer service
Explanation:
Poor customer service
A problem that is not caused by monopolies is More competition.Thus the correct answer is D.
What is a monopoly?A monopoly refers to a situation when the market of particular goods and services is captured by a single entity or owner and restricts entry by controlling the activities.
They aim at limiting the amount produced for the market, which leads to charging more. This results in cutting back on economic welfare and consumer surplus.
As they are the single seller in the market which shows that there is no competition in the market, who challenges them. The problem of more competition is not caused by monopoly.
Therefore, Option D is appropriate.
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Tracing shipping documents to pre-numbered sales invoices provides evidence that A. No duplicate shipments or billings occurred. B. Shipments to customers were properly invoiced. C. All goods ordered by customers were shipped. D. All pre-numbered sales invoices were accounted for.
Answers
Tracing shipping documents to pre-numbered sales invoices provides evidence that A) no duplicate shipments or billings occurred.
A pre-numbered sales invoice is a billing document that includes a series of sequential numbers to help organizations keep track of them. Organizations use these documents to keep track of orders, shipments, and payments by assigning unique invoice numbers to each document.
A shipping document is a form that companies fill out when they ship products to customers. It specifies the name and address of the receiver, as well as the type and quantity of products, the carrier's name, and other information. It functions as a receipt of goods received by the customer.
To confirm that no duplicate shipments or billings occurred, companies must trace shipping documents to pre-numbered sales invoices. This helps to ensure that goods sent to customers are correctly invoiced and that pre-numbered sales invoices are accounted for, indicating that all goods ordered by customers were shipped. Additionally, it helps to identify errors that may have been made throughout the shipping and billing process. As a result, it assists businesses in identifying potential areas for improvement and ensuring that their operations run smoothly.
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Analyze two pricing strategies for their advantages and disadvantages and give reasons for a business to use each of those pricing strategies.
Answers
hope it helps
in a business process, a role refers to . group of answer choices the movement of data a collection of data a physical repository a collection of activities
Answers
A role in a business process denotes a group of tasks.
A business process, business method, or business function is a collection of related, structured actions or tasks carried out by either humans or machines in a predetermined sequence to provide a service or a product for a particular customer or customers. There are business processes that customers may or may not be able to perceive at all organisational levels. A flowchart of an ordered series of stages with intermediate decision points or a process matrix of an ordered series of steps with relevance criteria based on process data are two common visual representations of business processes. Utilizing business procedures can improve client satisfaction and your capacity to react rapidly to shifting market circumstances.
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Question 1
All of the below are examples of noteworthy news that could generate positive media mentions, EXCEPT
Hiring a new employee
A partnership with a local nonprofit that you donate to
Growth of your business into new markets or product lines
A new product or service rollout
Answers
Answer:
A new product or service rollout
Explanation:
While a new product or service rollout can be important for a business, it is not necessarily noteworthy news that would generate positive media mentions. Positive media mentions typically come from news that is unique, impactful, or of significant interest to the public, such as a partnership with a local nonprofit or growth of a business into new markets or product lines. Hiring a new employee is also noteworthy news, as it can demonstrate growth and success for a business.
In 2020, Mary reported the following items: Salary $30,000 Personal use casualty gain 10,000 Personal use casualty loss (after $100 floor) 17,000 Other itemized deductions 4,000 Assuming that Mary files as head of household (has one dependent child), determine her taxable income for 2020
Answers
To determine Mary's taxable income for 2020, we need to calculate her adjusted gross income (AGI) by subtracting her allowable deductions from her total income. Then, we subtract her standard deduction and any applicable tax credits to arrive at her taxable income.
Total Income: Mary's total income includes her salary of $30,000 and the personal use casualty gain of $10,000. Therefore, her total income is $40,000.
Adjustments: Mary has a personal use casualty loss of $17,000. However, this loss is subject to a $100 floor, meaning only losses exceeding $100 can be deducted. Therefore, Mary can deduct $16,900 ($17,000 - $100) as an itemized deduction.
Adjusted Gross Income (AGI): To calculate Mary's AGI, we subtract her allowable deductions from her total income. Her other itemized deductions of $4,000 can also be included. Therefore, her AGI is $40,000 - $16,900 - $4,000 = $19,100.
Deductions and Taxable Income: As a head of household, Mary is eligible for a standard deduction of $18,650 in 2020. This reduces her taxable income to $450 ($19,100 - $18,650).
Mary's taxable income for 2020 is $450. This amount will be used to determine her federal income tax liability based on the applicable tax rates and any eligible tax credits.
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which of the following assumptions are commonly used to forecast inventory? select all correct answers. a. income b. capital spending c. days in period d. invest day e. selling costs
Answers
The commonly used assumptions to forecast inventory include days in the period and selling costs.
When forecasting inventory, two commonly used assumptions are days in the period and selling costs. Days in the period refers to the number of days within a specific time frame, such as a month or a quarter. By estimating the average number of days it takes to sell inventory, businesses can project future demand and adjust their inventory levels accordingly.
Selling costs, on the other hand, encompass the expenses associated with selling products, such as advertising, marketing, and distribution costs. These costs can have a direct impact on inventory forecasting since they influence the overall demand for products. By considering selling costs, businesses can assess their profitability and make informed decisions about inventory levels.
The other options provided in the question, namely income, capital spending, and invest day, are not typically used as assumptions for inventory forecasting. While income and capital spending may indirectly influence inventory levels by affecting consumer purchasing power and business expansion plans, they are not directly used as assumptions in the forecasting process. Invest day is not a recognized term in the context of inventory forecasting assumptions.
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Question 3 of 10
Which of the following is a hard skill that a marketing manager might use on
a regular basis?
A. Using listening skills to understand employee concerns
B. Using spreadsheets to plan budgets
C. Using leadership skills to motivate a project team
D. Using coding skills to create websites for clients
SUBMIT
Answers
Answer: B. Using spreadsheets to plan budgets
Explanation: yes
The _____ for an activity is the latest possible time an activity might begin without delaying the project finish date. Group of answer choices early finish date late finish date late start date early start date
Answers
Answer:
Late start date.
Explanation:
The late start date is the latest possible time an activity might begin without delaying the project finish date. It takes into account both parts of the sentences. "Late" as in "latest possible time", and start as in "[to] being, without delaying the project...".
Why might people choose to rent a home rather than buy a home? a. They have a lot of money saved for a down payment. b. The property maintenance is the owner's responsibility. c. The interest rates on equity are too high. d.They have a long-term commitment to the area.
Answers
Renting can be a more flexible option, allowing you to move more easily if you need to. There are several reasons why people may choose to rent a home rather than buy one.
One reason is that they may not have a lot of money saved for a down payment. Buying a home typically requires a significant down payment, and not everyone has the financial resources to make such a large payment. In contrast, renting a home typically requires a smaller upfront cost, such as a security deposit and first month's rent.
Another reason why people may choose to rent a home is that property maintenance is the owner's responsibility. When you rent a home, you are not responsible for repairs or maintenance on the property. This can be a major benefit for people who don't have the time or inclination to handle these tasks themselves.
In addition, people may choose to rent a home because the interest rates on equity are too high. If interest rates are high, it may not make financial sense to buy a home. Renting may be a better option in this situation, as it can be more affordable in the short term.
Finally, some people may choose to rent a home because they have a long-term commitment to the area. If you're not sure how long you will be living in an area, it may not make sense to buy a home. Renting can be a more flexible option, allowing you to move more easily if you need to.
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Type the correct answer in the box. Spell all words correctly. The demand curve has what kind of slope?
Answers
Answer:
Usually slopes downwards
Explanation:
in a negative association
When we look at money supply and price numbers over time, we see that in the short run there is _________ between money and the price level, while over time there is _________ between money and the price level.
Answers
When we look at money supply and price numbers over time, we see that in the short run there is a direct relationship between money and the price level, while over time there is a positive relationship between money and the price level.
There exists a positive relationship between money supply and price level. It means that the increase in the money supply leads to an increase in the price level of goods and services. Conversely, a decrease in the money supply causes a decrease in the price level of goods and services. The theory that supports the direct relationship between money and price level is the quantity theory of money. This theory suggests that the price level is directly proportional to the money supply over the long term.
However, in the short term, other factors like market demand, market supply, and market structure may impact the price level. The relationship between money supply and price level can be expressed mathematically using the equation of exchange as M * V = P * where M is the money supply, V is the velocity of money, P is the price level, and Y is the real output of goods and services. This equation shows that an increase in M will lead to an increase in P, holding all other factors constant.
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What are two types of goods/services that lend themselves well to price competition? Discuss these goods/services and reasons why price competition works best for them.
Answers
Explanation:
The two types of goods / services where price competition works best are those classified by a market model of perfect competition and imperfect competition.
In perfect competition, there is a predominance of a homogeneous market, with the presence of many companies and without barriers to entry, where there is the possibility of free price competition, such as the food industry.
In imperfect competition, there is also the presence of many industries in the market, but there is a differentiation of products, which causes price competition but depending on the benefits, functionality and degree of differentiation of the good perceived by the consumer.
The two types of goods/services that lend themselves well to price competition are those that are classified by a market model of perfect competition and imperfect competition.
It should be noted that in perfect competition, there is a homogeneous market. Also, no one can influence the price. There's also free entry and exit.
On the other hand, in imperfect competition, there is also the presence of many industries in the market, but there is a differentiation of products, which causes price competition. Also, the producers can influence the price.
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the branch of economics which studies the behavior of entire economies and policies that affect the economy as a whole is called
Answers
The branch of economics that studies the behavior of entire economies and policies that affect the economy as a whole is called Macroeconomics."
What is macro economics?Macroeconomics focuses on factors such as aggregate production, employment, inflation, monetary and fiscal policies, economic growth, and the overall functioning and performance of the economy.
It analyzes the interrelationships and dynamics among different economic sectors and variables to understand the broader picture and make policy recommendations at the national or global level.
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Why does the united states have limited to no trade with countries like cuba and venezuela?.
Answers
On September 4, 1961, partly in response, Congress handed the Foreign Assistance Act, a Cold War Act (among many different measures) that prohibited useful resource to Cuba and approved the President to impose a whole trade embargo towards Cuba.
What is the alternate relationship between the US and Cuba?U.S. diplomatic illustration in Cuba is handled with the aid of the United States Embassy in Havana, and there is a comparable Cuban Embassy in Washington, D.C. The United States, however, continues to preserve its commercial, economic, and economic embargo, making it unlawful for U.S. corporations to do enterprise with Cuba.
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