When Fisher-Price managers attempted to redesign its classic toy, the Chatter Telephone, they considered adding a noisemaker, wheels, and eyes to a basic plastic telephone, and thus they developed several
A. new-feature matrices.
B. new-product concepts.
C. product substitutes.
D. virtual prototypes.
E. product hypotheses.
Answer: B
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Jasper makes a $45,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is: (Use 360 days a year.)
A. $243.75. B. $2925. C. $1462.50. D. $32.50. E. $731.25.
Kimberley, a merchant seller in Kansas, had an oral contract to sell goods to Jane, a merchant buyer in Memphis, for $100,000. Two days after contracting, Kimberley sends a sufficient written confirmation to Jane of the agreed-upon transaction. Jane, who has reason to know the contents of the written confirmation, fails to immediately object to the contents of the confirmation. Two weeks after receiving the written confirmation, Jane receives delivery of the goods from Kimberley, and Jane then sends an objection to the written confirmation to Kimberley. Which of the following is true of the contract between Kimberley and Jane?
A. The Statute of Frauds can be raised against the contract because a letter of objection was sent to the offeror. B. The offer is valid as the offeree knew the contents of the confirmation and did not object within 10 days. C. The contract is void as the offeror did not receive a letter of confirmation from the offeree for delivery. D. The Statute of Frauds can be raised because the offeree did not sign the contract.
Which of the following statements about methods for estimating loss reserves for property and casualty insurers is (are) true?
I. The judgment method involves the use of a statutory formula to estimate the loss reserve. II. The average value method is used when the number of claims is large and the claims are settled quickly. A) I only B) II only C) both I and II D) neither I nor II
As organizations become more flexible and responsive to environmental trends, there is a distinct shift toward ________ decision making.
A. centralized B. decentralized C. concentrated D. amalgamated