Institutional theory suggests that firms choose hierarchy over markets because __________.
a. It is more efficient
b. It is functionally necessary
c. It is culturally familiar
d. It is easier
c. It is culturally familiar
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Describe Porter's Five Forces Model and explain each of the five forces.
What will be an ideal response?
From a societal standpoint, the main purpose of a labor relations system is:
A. To equalize the distribution of income across society. B. To ensure public safety, promote worker voice in politics, and reduce income inequalities that create a tax burden. C. To control the actions of employers and employees so that they are clearly acting in the best interests of society. D. To protect the profit maximization goals of business and ensure competition in the marketplace.
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $240,300 and 4690 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $243,000 and actual direct labor-hours were 4640.The predetermined overhead rate for the year was closest to:
A. $52.37 B. $51.24 C. $50.69 D. $51.81
Delicious Candy markets a two pound box of assorted chocolates. Because of imperfections in the candy making equipment, the actual weight of the chocolate has a continuous uniform distribution ranging from 31.8 to 32.6 ounces
a. Define a probability density function for the weight of the box of chocolate. b. What is the probability that a box weighs (1) exactly 32 ounces; (2) more than 32.3 ounces; (3) less than 31.8 ounces? c. The government requires that at least 60% of all products sold weigh at least as much as the stated weight. Is Delicious violating government regulations?