Answer:
A) 18
B) 14,600 Units
Explanation:
To solve for Product line (P) we add total numbers the models. That is,
(a) Take product line (P) to be the total number of distinct products A, B & C models produced.
Where A=6
B=4
C=8
Add up
Therefore, we
P = 6 + 4 + 8 = 18 distinct models.
(b) to find QF of the plant for the total production amount of all products produce in the plant multiply by the product line (P) number and then add up.
That is,
QF= 6(500) + 4(700) + 8(1100) = 3000 + 2800 + 8800 = 14,600 units
Answer:
A. Value of P (product variety) = 18
B. Value of Qf (production quantity) = 14,600
Explanation:
A product line may be explained as a group of related products all marketed under one name that's sold by an equivalent company. Companies sell multiple product lines under their various brand names, seeking to differentiate them from one another for better usability for consumers.
Companies often expand their offerings by adding to existing product lines because consumers are more likely to get products from brands with which they're already familiar.
Product lines are created by companies as a marketing strategy to capture the sales of consumers who are already buying the brand.
Product variety (P), refers to the number of different product designs or types that are produced in a plant.
Production quantity Q, refers to the number of units of a given part or product produced annually and can be low, medium or high.
Find the attached sheet for mathematical explanations. In the attached sheet;
P is product variety; P1 is the number of distinct product lines produced by
the factory (in other words, hard product variety); P2 is the number of models in a
product line (in other words, soft product variety); and j is product or part style.
Qf is production quantity (f refers to factory); Qj annual quantity of style j; P is product variety; and j is product or part style.:
