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Post by crazyplace on Jun 22, 2020 11:25:28 GMT
I've just had one not listed here: Your business partner wants to upgrade her grocery store, and it will cost her $11,000. She doesn't have this kind of money, so she's considering borrowing it from her family with no interest. She estimates that she will earn 30 cents more on each purchase, and she has 100 purchases per hour and her store is open 24/7. She's asking you for advice on how long it will take her to pay off her loan. Options: - Less than 3 weeks, I am sure - Less than 2 months, I am sure - Less than 3 months, I am sure I selected the first option and got the response: Your partner borrowed money and was able to repay the loan in 16 days. She was so happy that she gave you half the extra profit from the remaining 5 days of the 3 weeks period as a thank you. You earned $1,800. Got it too, choose the second one to see whether it would give me more, it did not:
"Your partner tried to borrow money from her family, but they could only give her money for 3 weeks. She ended up not investing in her business. Later she has calculated that it would actually have taken about 16 days to repay her loan. Obviously, she's very disappointed with your advice."
I am by the way very disappointing in her for not making the calculations before asking for advice. I expect more from my partners in business, she should not be in business and thus I get rid of her as soon as I can.
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Post by Median Bank on Jun 22, 2020 12:06:47 GMT
Your business partner wants to upgrade her grocery store, and it will cost her $11,000. She doesn't have this kind of money, so she's considering borrowing it from her family with no interest. She estimates that she will earn 30 cents more on each purchase, and she has 100 purchases per hour and her store is open 24/7. She's asking you for advice on how long it will take her to pay off her loan.
• Less than 3 weeks, I am sure.
Your partner borrowed money and was able to repay the loan in 16 days. She was so happy that she gave you half the extra profit from the remaining 5 days of the 3 weeks period as a thank you. You earned $1,800.
• Less than 2 months, I am sure.
• Less than 4 months, I am sure.
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Post by remo1977 on Jun 22, 2020 13:32:56 GMT
A street magician walked in the office and offered you a gamble. You flip your coin 2 times. If it lands on tail all 2 times, you give him $500, otherwise you receive 100$. Will you accept the gamble?
Yes, I am pretty good at flipping coins. Watch me!
You won $100 on the first try, but then decided to play more and more. After 4 games, you have won 3 times $100 and lost $500. In total you lost $200.
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Post by piffmunday on Jun 22, 2020 13:42:13 GMT
A street magician walked in the office and offered you a gamble. You flip your coin 2 times. If it lands on tail all 2 times, you give him $500, otherwise you receive 100$. Will you accept the gamble?
Nope, those odds are not fair
The magician said you have a talent for business and produced a luxury watch out of nowhere. You got to keep it.
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Post by otterwellindustries on Jun 22, 2020 14:31:17 GMT
Looks like there's a batch of new ones where you have to calculate the answer.
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Post by Westfirm Reach on Jun 22, 2020 15:15:21 GMT
But the thing is, if the correct answer ethically is sometimes not the best answer. Could it be possible that the best answer mathematically is possibly not the correct answer?
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Post by otterwellindustries on Jun 22, 2020 15:17:07 GMT
Q - A friend of yours just called. He offers you to set up the pricing model for his cinema for one evening in exchange for 50% of profits. He has 1000 sits, which price should he set up:
Response - 4$ even if it means we only sell out 60% of the capacity.
Result - The cinema is doing great, you got $1,200 as your share of the profits
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Post by godofsoccer on Jun 22, 2020 15:37:18 GMT
A friend of yours just called. He offers you to set up the pricing model for his cinema for one evening in exchange for 50% of profits. He has 1000 sits, which price should he set up:
1$ each seat to make sure the cinema is full.
4$ even if it means we only sell out 60% of the capacity.
2$ for over 60s year-old and 4$ for everyone else.
I know nothing about cinemas, sorry.
Option 2 is the answer and you get 1200 in profit
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Post by alsadius on Jun 22, 2020 16:12:55 GMT
A street magician walked in the office and offered you a gamble. You flip your coin 2 times. If it lands on tail all 2 times, you give him $500, otherwise you receive 100$. Will you accept the gamble? Nope, those odds are not fair The magician said you have a talent for business and produced a luxury watch out of nowhere. You got to keep it. For completeness, I picked "I am busy, send him away". As you'd expect, nothing happened. (Please accept this donation of like $740 after listing fees to the cause of SimCompanies knowledge. I'll expect a tax receipt from the forums come April.) Edit: With the cinema, I also tried a different option, "2$ for over 60s year-old and 4$ for everyone else." |
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Post by remo1977 on Jun 22, 2020 16:31:18 GMT
A friend of yours just called. He offers you to set up the pricing model for his cinema for one evening in exchange for 50% of profits. He has 1000 sits, which price should he set up:
I did: 2$ for over 60s year-old and 4$ for everyone else.
I got: A local newspaper noticed the discount and made a free advertisement. The cinema was full. 50% of people paid $4, everyone else was over 60 and paid 2$. Your total earnings are: $3,000, you get $1,500.
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Post by alsadius on Jun 22, 2020 18:57:15 GMT
I picked "Sure, let's cover his treatment cost".
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Post by iconic on Jun 22, 2020 19:13:44 GMT
A friend of yours just called. He offers you to set up the pricing model for his cinema for one evening in exchange for 50% of profits. He has 1000 sits, which price should he set up: 1$ each seat to make sure the cinema is full. 4$ even if it means we only sell out 60% of the capacity. 2$ for over 60s year-old and 4$ for everyone else. I know nothing about cinemas, sorry. Option 2 is the answer and you get 1200 in profit Choose the 3rd option you will get $1500. |
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Post by rogerinbrown on Jun 22, 2020 20:15:40 GMT
A journalist from a local newspaper called and asked your opinion as an expert businessman. The government wants to launch a big infrastructure project (building a very expensive and beautiful bridge). The journalist is curious if that should be classified as a fiscal or monetary policy. What should we tell her?
Fiscal policy, obviously.
The journalist was very happy with your help, she mentioned your company in the newspaper which boosted sales. You earned $2,000 as a result.
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Post by basket on Jun 22, 2020 20:59:00 GMT
One of your workers with a salary of $300/hour got into an accident and isn't able to work for the next 6 hours. We won't be able to find a replacement that soon, so we'll just have to wait for him to get back. But there is a drug that can make them recover in just 1 hour, it would cost you $900. The worker can't afford it and asks for your help.
That's not my problem, we are not a hospital. Let him deal with it himself.
Sure, let's cover his treatment cost.
Sure, let's cover his treatment cost.
The worker recovered in 1 hour, you lost $300 in his wages and $900 was paid for the drug. The worker was very happy for how you treated him.
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Post by remo1977 on Jun 23, 2020 15:00:58 GMT
How long does the quest stay before expiring or you can't do it no more?
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