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17 Dec 2023, 02:35
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Dropdown 1: 14
Dropdown 2: US$55,000
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
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91% (01:39) correct
9%
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A company is considering replacing its periodic offsite face-to-face meetings with ones that can be conducted online in a virtual environment. The company calculated its costs for each face-to-face meeting as well as the initial one-time costs necessary to set up online meeting capabilities. Once those capabilities are established, the company incurs negligible additional costs for each subsequent meeting. The graphic shows the one-time cost to the company for the virtual meetings as well as the total costs for the face-to-face meetings. For example, if the company conducted 5 face-to-face meetings, then the total costs to the company for the meetings would be approximately US$20,000.
Select from each drop-down menu the option that creates the most accurate statement based on the information provided.
Holding face-to-face meetings would cost the company less than would holding the same number of virtual meetings until the total number of meetings held reached approximately , when the total costs of face-to-face meetings would meet or exceed the approximately of expenses needed to set up the virtual meeting capabilities.
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Dropdown 1: 14
Dropdown 2: US$55,000
GMATCoachBen
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19 Dec 2023, 14:54
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Short video solution here (1:14):
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2023-12-19 13_54_15-No name - 19 December 2023.mp4 - VLC media player.png [ 4.05 MiB | Viewed 11556 times ]
29 Apr 2024, 23:34
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parkhydel
From the graph,
One time expense for online meeting capability = $55,000 (for any number of meetings)
The cost of face to face meetings increase proportionally with the number of meetings.
For 5 F2F meetings, the cost is $20k, for 10 meetings it is $40k and for 20 meetings it is $80k.
From the graph, for 14 meetings, the cost is about $55,000.
Hence,
Holding face-to-face meetings would cost the company less than would holding the same number of virtual meetings until the total number of meetings held reached approximately 14, when the total costs of face-to-face meetings would meet or exceed the approximately $55,000 of expenses needed to set up the virtual meeting capabilities.
ANSWER: 14, $55,000
