Consider a local McDonald's® restaurant. Identify a specific variance McDonald's® could experience, what could cause that...
Consider a local McDonald's® restaurant. Identify a specific variance McDonald's® could experience, what could cause that variance, and how it could be corrected.
Homework Answers
| Variance | Cause of the variance | How can it be corrected |
| Labour : Direct wages bugeted : $100000 ; Actual wages : $200000 | Increase in wage rate | Proper estimates of wage rates may be taken at the time of preparation of budgets and bugets be reviwed at periodic intervals so that they don’t become irrelavant or unrealistic |
| Decline in productivity | Ensure there is supervision staff and time logins and monitoring of work time | |
| Idle hours not as expected | Again no of hours worked have to be closely monitored and productivity being the measure of hours worked. |
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Consider a local McDonald's® restaurant. Identify a
specific variance McDonald's® could experience, what
could cause that...
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Consider the following actual and forecast demand levels for Big Mac hamburgers at a local McDonald's...
Consider the following actual and forecast demand levels for Big
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Day Monday Tuesday Wednesday Thursday Friday Actual Demand 88.00 75.00 70.00 52.00 Forecast Demand 88.00 88.00 84.10 79.87 The forecast for Monday was derived by observing Monday's demand level and setting Monday's forecast level equal to this demand level. Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.30. Using this exponential smoothing method, the forecast for Big Mac...
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consider the following reliability analysis for the variable
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Reliability analysis-scale (alpha) tem-total statistics Scale Variance if item Scale Mean if item deleted 10.0405 9.7432 9.6486 Corrected Item-total Alpha if item correlation deleted 0.2437 0.7454 0.3293 0.4849 0.3722 deleted 5.4733 5.0176 5.3754 CUSDIFI CUSDIF2 CUSDIF3 0.5047 Reliability coefficients Nof Cases = 111.0 Alpha=0.5878 N of Items = 3
1 and 2 Chapter 13 May 16, 2019 Name 1) Suppose that if a local McDonald's restaurant reduces the price of a Big Mac from $4.00 to $3.25, the number of Big Macs it sells per day will increase...
1 and 2
Chapter 13 May 16, 2019 Name 1) Suppose that if a local McDonald's restaurant reduces the price of a Big Mac from $4.00 to $3.25, the number of Big Macs it sells per day will increase from 4 to 5. Explain the output effect and the price effect resulting from this change. Using a graph, illustrate both the loss in revenue from selling each of the first 4 Big Macs for $0.75 less and the additional revenue...
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Consider the following actual and forecast demand levels for Big
Mac hamburgers at a local McDonald's restaurant:
Day Monday Tuesday Wednesday Thursday Friday Actual Demand 88.00 75.00 70.00 52.00 Forecast Demand 88.00 88.00 84.10 79.87 The forecast for Monday was derived by observing Monday's demand level and setting Monday's forecast level equal to this demand level. Subsequent forecasts were derived by using exponential smoothing with a smoothing constant of 0.30. Using this exponential smoothing method, the forecast for Big Mac...
#1
(1) Determine the underlying cause of the resulting "customer experience" (e.g., great salesperson, poor organization, bad training, or bad attitude). (2) Identify "sales techniques, strategies and tactics" used (or those which should have been used) and recount examples in the write-up. (3) Make specific recommendations how the salesperson could have made his/her sales presentation better for the benefit of the customer (e.g., you), and how the firm-company-organization can improve its "sales training" to enhance or improve the customer experience....
consider the following reliability analysis for the variable
customer differentiation. what could you consider from it?
Reliability analysis-scale (alpha) tem-total statistics Scale Variance if item Scale Mean if item deleted 10.0405 9.7432 9.6486 Corrected Item-total Alpha if item correlation deleted 0.2437 0.7454 0.3293 0.4849 0.3722 deleted 5.4733 5.0176 5.3754 CUSDIFI CUSDIF2 CUSDIF3 0.5047 Reliability coefficients Nof Cases = 111.0 Alpha=0.5878 N of Items = 3
1 and 2
Chapter 13 May 16, 2019 Name 1) Suppose that if a local McDonald's restaurant reduces the price of a Big Mac from $4.00 to $3.25, the number of Big Macs it sells per day will increase from 4 to 5. Explain the output effect and the price effect resulting from this change. Using a graph, illustrate both the loss in revenue from selling each of the first 4 Big Macs for $0.75 less and the additional revenue...
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