Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mango Electronics Inc. is a Fortune 5 0 0 company that develops and markets innovative consumer electronics products. The development process proceeds as follows. Mango
Mango Electronics Inc. is a Fortune company that develops and markets innovative consumer electronics products. The
development process proceeds as follows.
Mango researches new technologies to address unmet market needs. Patents are filed for products that have the requisite market
potential. Patents are granted for a period of years starting from the date of issue. After receiving a patent, the patented
technologies are then developed into marketable products at independent development centers. Each product is only developed at
one center. Each center has all the requisite skills to bring any of the products to market a center works on one product at a time On
average, Mango files a patent every months with a standard deviation of months The average development process lasts
months with a standard deviation of months
a What is the utilization of Mango's development facilities? Round your answer to two decimal places.
b How long does it take an average technology to go from filing a patent to being launched in the market as a commercial product?
Round your answer to one decimal places.
c How many years of patent life are left for an average product launched by Mango Electronics? Round your answer to one decimal
places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started