A skimming price policy tries to sell to customers who are at the top of the demand curve first, before aiming for more price-sensitive customers.
Answer the following statement true (T) or false (F)
True
A skimming price policy tries to sell the top (skim the cream) of a market-the top of the demand curve-at a high price before aiming at more price-sensitive customers.
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Customers at an amusement park arrive at the rate of 10 customers per hour. The entry booth is staffed by one employee. The mean service time at the booth to provide service to each customer is 5 minutes. The arrival rate follows a Poisson distribution, and the service time at the booth follows a negative exponential distribution. Determine the capacity utilization for the system.
a. 56% b. 78% c. 83% d. 98%
In a multiple regression analysis involving 4 independent variables and 30 data points, the number of degrees of freedom associated with the sum of squares for error, SSE, is 25
Indicate whether the statement is true or false
When workers must be laid off, the company cannot consider union participation as a criterion for deciding whom to fire.
Answer the following statement true (T) or false (F)
What is the rationale behind the principle that a witness does not have to sign or witness the testator sign a holographic will?
A. The testator had ample time to consider the consequences of creating the will. B. The writing is better evidence of the testator's state of mind. C. Witnesses are required to sign and witness the testator signing a holographic will. D. It is unnecessary and inconvenient to involve other parties if the will is created by the testator. E. When the entire will is in the testator's handwriting, it lessens the chance of fraud or forgery.