Q1: John Kruda, an inventor, has come up with a cool all-in-one pocket-sized product that replaces TV, cellphone, tablet and even a coffee as well as ice-cream maker (Phew....what an invention, don't you agree!). He has priced all the components, production cost and overhead costs, and the total is $472.45. He want to sell the product to a local wholesaler in such a way that John earns 45% on the selling price to the wholesaler. a) Help John figure out the selling price for the cool product (poor John, he is good at inventing but lacks business skills) b) What kind of pricing approach (cost+ or price-) is he using? Q2: John Kruda had a rude-awakening. The product above turned out to have some limitations: the TV picture projected by the cool product would not work beyond 36"; the ice-cream maker would serve only one small scoop at a time; the coffee maker can only handle 3-0z at a time. So, he did a market survey to learn that he can sell his product to the wholesaler for only $495. He still insists that he must make 25% on the selling price. a) How much profit does he want to earn per unit? b) What kind of pricing approach (cost+ or price-) is he using this time? By what amount must he reduce all his costs from the current cost of $472.45 to meet his profit objective under the new market reality? Q3: Calculate the reliability of the following three systems using the formula given below. Components in parallel R = 1 -[(1-R,)*(1-R;)*(1-R;)*(1-RA)*...] Components in series R = R1*R,"R;"RA... a 0.92 0.97 0.57 0.97 0-9 0.85 0.9 0.92 0.95 0.85 0.91 C)