Question: Use the data table to answer the questions Task 3: Little's law (8 points) Only use the information given in this section. Your online competitors

Use the data table to answer the questions

Task 3: Little's law (8 points) Only use the information given in this section. Your online competitors only sell bikes that are glossy black. Multiple companies are selling the same bike differentiated only by the addition of a sticker. This has created a "race to the bottom" on prices. MNice Bike cannot survive competing only on price and you've discovered a competitive niche. It takes a little longer to build, but customers are willing to pay more for customized colors. You can ship 40 bikes daily, but the assembly process takes 4 days from start to finish (mostly due to a paint drying time). All of the parts for a bike cost $800. What is the minimum value of your inventory on your production line? Different equipment for a new paint process would shorten your production process to 3 days (still making 40 bikes per day). You want the "process change to pay for the improvement" with reduced inventory based on Little's Law. How much can you justify spending on new equipment based on the inventory reduction? Explain your answer \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c}{ A } & \multicolumn{2}{c}{ B } & \multicolumn{1}{c}{C} \\ \hline Quarter & Year & \multicolumn{1}{c}{ Revenue } \\ \hline Q1 & 2017 & $62,848.50 \\ \hline Q2 & 2017 & $232,282.56 \\ \hline Q3 & 2017 & $215,607.99 \\ \hline Q4 & 2017 & $163,628.57 \\ \hline Q1 & 2018 & $68,798.06 \\ \hline Q2 & 2018 & $252,224.87 \\ \hline Q3 & 2018 & $234,535.35 \\ \hline Q4 & 2018 & $174,107.08 \\ \hline Q1 & 2019 & $73,203.78 \\ \hline Q2 & 2019 & $268,376.96 \\ \hline Q3 & 2019 & $150,599.01 \\ \hline Q4 & 2019 & $186,328.38 \\ \hline Q1 & 2020 & $82,178.66 \\ \hline Q2 & 2020 & $299,015.27 \\ \hline Q3 & 2020 & $277,550.25 \\ \hline Q4 & 2020 & $222,745.45 \\ \hline Q1 & 2021 & $97,501.55 \\ \hline Q2 & 2021 & $340,769.12 \\ \hline Q3 & 2021 & $316,306.77 \\ \hline Q4 & 2021 & $240,050.58 \\ \hline Q1 & 2022 & $105,872.41 \\ \hline Q2 & 2022 & $385,912.89 \\ \hline Q3 & 2022 & $363,852.11 \\ \hline Q4 & 2022 & $289,655.75 \\ \hline \end{tabular} Learning Curve 83%

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