Explain what a generic name is with reference to trademarks
What will be an ideal response?
Once a company has been granted a trademark or service mark, the company usually uses the mark as a brand name to promote its goods or services. The owner of the mark wants to promote its brand so that consumers and users will easily recognize the brand name. However, sometimes a company may be too successful in promoting a mark, and at some point in time, the public begins to use the brand name as a common name to denote the type of product or service being sold rather than as the trademark or service mark of the individual seller. A trademark that becomes a common term for a product line or type of service is called a generic name. Once a trademark becomes a generic name, the term loses its protection under federal trademark law.
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a. Removing candy dish from coffee table b. Move TV to a less used room c. Change driving route to avoid fast-food restaurants d. Putting treadmill in TV room
The Central Limit Theorem states that when the sample size increases, the distribution of the sample means will approach the normal distribution
Indicate whether the statement is true or false
A farmer in Egypt owns 50 acres of land. He is going to plant each acre with cotton or corn. Each acre planted with cotton yields $400 profit; each with corn yields $200 profit. The labor and fertilizer used for each acre are given in the table below. Resources available include 150 workers and 200 tons of fertilizer.
Cotton Corn Labor (Workers)5 3 Fertilizer (Tons)6 2 (A) Formulate a linear programming model that will enable the farmer to determine the number of acres that should be planted cotton and/or corn in order to maximize his profit. ? (B) Find an optimal solution to the model in part (A) and determine the maximum profit. ? (C) Implement the model in part (A) in Excel Solver and obtain an answer report. Which constraints are binding on the optimal solution? ? (D) Obtain a sensitivity report for the model in part (A). How much should the farmer be willing to pay for an additional worker? ? (E) Suppose the farmer hires 10 additional workers. Can you use the sensitivity analysis obtained for part (D) to determine his expected profit? Would his planting plan change? Explain your answer. ? (F) Suppose the farmer now wants to hire 20 additional workers, instead of just 10. Can you use the sensitivity analysis obtained for part (D) to determine his expected profit? Explain your answer. What will be an ideal response?