Interpreting data analysis result can be difficult for accountants because they often mistake correlation for causation, and all the answer options are correct except "Accountants use automation that increases the speed data is analyzed.
Interpreting data analysis result can be difficult for accountants because they often mistake correlation for causation, and all the answer options are correct except "Accountants use automation that increases the speed data is analyzed."In interpreting data analysis results, accountants may have biases that might cause them to misinterpret data. They can make the mistake of confusing correlation with causation, which can lead to inaccurate conclusions. Correlation means that two variables have a relationship, but it does not necessarily mean that one causes the other.Accountants use automation that speeds up the analysis of data, which can make their work faster and more efficient. However, the use of automation does not necessarily make interpreting data analysis results any easier. In fact, it can sometimes make it more difficult because there may be a large amount of data to sift through and make sense of. The automation may only analyze data at a surface level, which may require accountants to dive deeper to truly understand what is happening.Therefore, interpreting data analysis result is difficult for accountants due to their biases and sometimes mistaking correlation for causation.
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Question 1. The representative consumer has a preference for leisure (1) and consumption (C) described by the following utility functions: Case 1: U(C,1) = C^2/3,1/3, Case 2: U(C,) = C + 2logl, Case 3: U(C, 1) = 2log C + 3logl. Suppose that this consumer currently supplies 0.64 units of labor (h = 1) and consumes 7.2 units of the consumption. How many units of consumption is this consumer willing to give up, at the margin, to enjoy more leisure? Provide the solution for all cases.
The representative consumer prefers leisure (1) and consumption (C), which are each characterized by the subsequent utility functions: Cases 1 through 3 are: U(C,1) = C2/3,1/3, U(C,) = C + 2logl, and U(C, 1) = 2log C + 3logl. Assume that this consumer now contributes 0.64 units of labor (h = 1) while consuming 7.2 units of the total consumption.
Case 1: U(C,1) = C^(2/3) (1/3)The representative consumer supplies 0.64 units of labor (h = 1) and consumes 7.2 units of consumption. For case 1, the marginal utility of leisure is the partial derivative of the utility function with respect to leisure: MU (1) = ∂U (C,1) / ∂ (1) = 1 / 3 C^ (2/3)
For case 1, the marginal utility of consumption is the partial derivative of the utility function with respect to consumption: MU (C) = ∂U (C,1) / ∂C = (2/3) C^(-1/3)By applying the marginal utility of leisure, the following equation is obtained: MU (1) = MU (C) / P (1)The ratio of marginal utilities equates the marginal rate of substitution (MRS), which tells us how much a consumer is willing to substitute between two goods. In this case, the goods are leisure and consumption.
This means that: MU (C) / P (1) = 1 / 3 C^(2/3) / P (1) = MU (1) = 1 / 3 C^(2/3) = MU (C) / P (1) = MU (1) = 2 / 3 * 7.2 ^ (-1/3) = 0.2234Case 2: U(C,) = C + 2loglThe representative consumer supplies 0.64 units of labor (h = 1) and consumes 7.2 units of consumption.
For case 2, the marginal utility of leisure is the partial derivative of the utility function with respect to leisure: MU (1) = ∂U (C,1) / ∂ (1) = 2 / l
For case 2, the marginal utility of consumption is the partial derivative of the utility function with respect to consumption: MU (C) = ∂U (C,1) / ∂C = 1By applying the marginal utility of leisure, the following equation is obtained: MU (1) = MU (C) / P (1)This means that: MU (C) / P (1) = 2 / l = MU (1)
Since the marginal utility of consumption in case 2 is constant, the marginal rate of substitution (MRS) also is constant: MRS = 2 / l For this particular case, the consumer is willing to give up 2 units of consumption for one more unit of leisure.
Case 3: U(C, 1) = 2log C + 3loglThe representative consumer supplies 0.64 units of labor (h = 1) and consumes 7.2 units of consumption. For case 3, the marginal utility of leisure is the partial derivative of the utility function with respect to leisure: MU (1) = ∂U (C,1) / ∂ (1) = 3 / l
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"Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. In order to position products or brands, companies may emphasize the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through the marketing mix. Once a brand has achieved a strong position, it can become difficult to reposition it."
"Positioning is something (a perception) that happens in the minds of the target market whereas differentiation is something that marketers do, whether through product design, pricing or promotional activity."
Are these quotes saying the same thing? If so, why do you believe so? If not, why do you think not? Which of the quotes is right? And why? Is repositioning really "very difficult"? Please share your opinion with the class.
The two quotes are not saying the same thing. They are both discussing different concepts.
The first quote is discussing the process of positioning in relation to brands and products in the minds of the customers. It explains how companies create a distinctive image for their brand through the marketing mix to distinguish their brand from the competitors. It also notes that once a brand has achieved a strong position, repositioning it can be difficult.
On the other hand, the second quote is discussing the difference between positioning and differentiation. It notes that positioning is a perception that occurs in the minds of the target market, while differentiation is something that marketers do through product design, pricing, or promotional activity. Therefore, it is evident that the two quotes are discussing different concepts.
In this case, neither quote is right or wrong because they are discussing different things. The first quote is right when discussing the concept of positioning while the second quote is right when discussing the difference between positioning and differentiation.
Finally, it is true that repositioning a brand can be difficult because customers have already formed an image or perception of the brand in their minds, and changing this perception can be challenging. Repositioning may involve changing the price, image, or target market, among other things. It is not impossible to reposition a brand, but it can be difficult, especially when the brand has a strong position in the market.
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Question 2
eBook Problem Walk-Through A bond has a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sells for $930. a. What is its yield to maturity (YTM)? Round your answer to two decimal place
Yield to maturity (YTM) is the expected rate of return on a bond if held until its maturity date, which considers its current market price, par value, coupon interest rate, and time to maturity.
A bond with a $1,000 par value, 8 years to maturity, and a 6% annual coupon and sells for $930. Let's calculate its yield to maturity (YTM): We can use the financial calculator, Excel spreadsheet, or formula to calculate YTM. Here we use the formula: PV = ∑ [C / (1 + r) t] + FV / (1 + r) t Where: PV = current market price of bond C = coupon interest paymentFV = bond's face valuer = yield to maturity t = a number of years to maturity.
Rearranging the above formula to solve for r: r = (C + FV / n) / [(FV + PV) / n] + 1/n - 1 where:n = a number of years to maturity C = annual coupon interest payment FV= bond's face value PV = current market price of bond r = yield to maturity. Substituting the given values in the above formula: r = (C + FV / n) / [(FV + PV) / n] + 1/n - 1r = (60 + 1000 / 8) / [(1000 + 930) / 8] + 1/8 - 1r = 0.0838 or 8.38% (rounded to two decimal places). Therefore, the bond's yield to maturity (YTM) is 8.38%.
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1) What are the steps involved in Procurement Management?
2) Should procurement processes only be established in large organizations?, What options do small businesses have?
The steps involved in Procurement Management include identifying the procurement needs, conducting market research, developing procurement strategies, soliciting bids and proposals, evaluating suppliers, negotiating contracts, and managing the procurement process. Procurement processes can be beneficial for both large organizations and small businesses, as they help ensure efficient and cost-effective acquisition of goods and services.
Procurement Management involves a series of steps to effectively acquire the goods and services needed by an organization. The first step is to identify the procurement needs by assessing the requirements of the organization. This includes determining the quantity, quality, and specifications of the desired goods or services.
Next, market research is conducted to identify potential suppliers and understand market trends and pricing. This helps in developing procurement strategies, such as deciding whether to make or buy, selecting suppliers, and determining the appropriate procurement methods. After the procurement strategies are established, the organization solicits bids and proposals from potential suppliers. This involves issuing requests for proposals (RFPs) or requests for quotations (RFQs) to gather competitive offers.
Once the bids and proposals are received, the organization evaluates the suppliers based on criteria such as cost, quality, delivery time, and past performance. This evaluation process helps in selecting the most suitable suppliers. Negotiating contracts with the chosen suppliers is another important step in procurement management. This involves finalizing the terms and conditions, pricing, and delivery schedules to ensure a mutually beneficial agreement.
Finally, the procurement process is managed, which includes monitoring supplier performance, tracking deliveries, resolving any issues that arise, and ensuring compliance with contractual obligations.
While procurement processes are often associated with large organizations, small businesses can also benefit from establishing procurement practices. Implementing efficient procurement processes can help small businesses secure better deals, reduce costs, and ensure the timely availability of goods and services.
Small businesses may leverage technology and automation tools to streamline their procurement activities and collaborate with suppliers effectively. Additionally, small businesses can explore group purchasing arrangements or engage in strategic partnerships to enhance their purchasing power and obtain cost advantages.
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CFAS Company reported the following shareholders' equity at the beginning of current year: 1,000,000 5,000,000 Preference share capital, 100,000 shares, P10 par Ordinary share capital, 500,000 shares, P10 par Share premium - Preference Share premium - Ordinary 70,000 200,000 Retained earnings 100,000 During the current year, the following transactions were completed: per share. • Retirement of 5,000 preference shares at P11 per share. • Purchase of 5,000 ordinary shares of treasury at P12 Share split, ordinary share 2 for 1. Reissue of 2,000 shares of treasury at P10 per share. Net income for the year, P300,000. What is the total shareholders equity at year-end?
Shareholders' equity is the net worth of a company. It represents the assets that remain after liabilities are paid. Therefore, the total shareholders' equity at year-end is P5,870,000.
The shareholders' equity of CFAS Company at the beginning of the current year was P1,000,000 and P5,000,000 for preference share capital and ordinary share capital respectively. The company also had a preference share premium of P70,000, an ordinary share premium of P200,000, and retained earnings of P100,000. During the year, the following transactions took place; 5,000 preference shares were retired at P11 per share, and 5,000 ordinary shares were purchased and put in treasury at P12 per share. A 2-for-1 split of ordinary shares was also done. 2,000 shares of the treasury were also reissued at P10 per share. The net income for the year was P300,000. Total Shareholders' Equity can be calculated by summing all of the individual values; Preference share capital = 100,000 shares × P10 per share = P1,000,000 Ordinary share capital = 500,000 shares × P10 per share = P5,000,000Preference share premium = P70,000Ordinary share premium = P200,000Retained earnings = P100,000 – P300,000 = -P200,000 (as there is a net loss)Total = P6,070,000 - P200,000 = P5,870,000.
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What is the difference in before tax yield of a 15.33% corporate bond and a 7% municipal bond for an investor in a 25% marginal tax rate? PRESENT YOUR ANSWER AS PERCENTAGE ROUNDED TO O DECIMAL PLACES. DON'T WRITE THE PERCENTAGE SYMBOL.
The difference in before-tax yield between the corporate bond and the municipal bond is 4.4975 when rounded to 0 decimal places.
To calculate the difference in before-tax yield between a 15.33% corporate bond and a 7% municipal bond for an investor in a 25% marginal tax rate, we need to account for the tax implications on the interest income. For the corporate bond, the before-tax yield is 15.33%. Since it is a corporate bond, the interest income is subject to income tax at the investor's marginal tax rate of 25%. For the municipal bond, the before-tax yield is 7%. Municipal bond interest income is typically exempt from federal income tax and, in some cases, state and local income tax as well. To calculate the difference in before-tax yield, we need to compare the after-tax yield of the corporate bond (15.33% * (1 - 25%)) with the before-tax yield of the municipal bond (7%).
Difference in before-tax yield = (15.33% * (1 - 25%)) - 7%
= 4.4975
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i need answer for this one. Thanks in advance.
QUESTION 5 Which of the following is an example of predictive analytics? OA. The election result projections using exit polls data OB. The election results OC. The geographical distribution of voters
Option A, "The election result projections using exit polls data," is an example of predictive analytics. Options B and C, "The election results" and "The geographical distribution of voters," respectively, do not represent predictive analytics.
Therefore, the correct answer is A, as it demonstrates the use of data analysis and statistical modeling to make projections about future election outcomes.
Predictive analytics is a branch of data analytics that uses historical data, statistical algorithms, and machine learning techniques to forecast future events or behaviors. It involves analyzing past patterns and trends to make predictions about future outcomes.
Option A, "The election result projections using exit polls data," exemplifies predictive analytics. Exit polls collect data from voters leaving polling stations and use statistical modeling techniques to project the likely results of an election. By analyzing the responses and characteristics of the sampled voters, exit poll data can provide insights into the voting patterns and help predict the election outcome before official results are announced.
Options B and C, "The election results" and "The geographical distribution of voters," respectively, do not fall under predictive analytics. Option B refers to the actual outcome of the election, which is a historical fact rather than a prediction. Option C pertains to the spatial distribution of voters, which provides information about their geographic location but does not involve forecasting or predicting future events.
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The following data was given for Cathy's Cakes: Sales $4,000 Operating Expenses $600.. Sales Returns & Allowances $200... Sales Discounts $400 Compute COGS: Beginning Inventory $1,500 Purchase $1,000 Ending Inventory $500
To compute the cost of goods sold (COGS) for Cathy's Cakes, we need to consider the beginning inventory, purchases, and ending inventory.
Beginning Inventory: $1,500
Purchase: $1,000
Ending Inventory: $500
To calculate COGS, we use the following formula:
COGS = Beginning Inventory + Purchases - Ending Inventory
COGS = $1,500 + $1,000 - $500
COGS = $2,000
Therefore, the cost of goods sold for Cathy's Cakes is $2,000. This represents the total cost of the inventory sold during the given period. It is important to note that sales returns and allowances, as well as sales discounts, are not considered in the COGS calculation as they are related to adjustments made to sales revenue rather than the cost of inventory.
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Coronado Industries retires its bonds at 105 on January 1, following the payment of annual interest. The face value of the bonds is $560000. The carrying value of the bonds at the redemption date is $579600. The entry to record the redemption will include a O debit of $28000 to Premium on Bonds Payable O debit of $19600 to Premium on Bonds Payable. O credit of $19600 to Loss on Bond Redemption. O credit of $8400 to Gain on Bond Redemption.
The entry to record the redemption will include a debit of $28000 to Premium on Bonds Payable, and a credit of $8400 to Gain on Bond Redemption.
When a bond is redeemed before maturity, there is often a gain or loss. This is the difference between the carrying value and the price paid to redeem the bond. A gain is recognized when the price paid to redeem the bond is less than the carrying value of the bond while a loss is recognized when the price paid to redeem the bond is more than the carrying value of the bond. The difference between the face value and the carrying value of the bond is $19600 ($579600 - $560000). The company is not required to pay this extra cost if it retires the bond before maturity. Therefore, the premium is written off. The amount of the premium is $28000 (the face value of the bond minus the carrying value). This amount is debited to Premium on Bonds Payable. Since the company is redeeming the bond at a price that is greater than the carrying value, there is a gain. The gain is the difference between the price paid to redeem the bond and the carrying value. In this case, the gain is $8400. This amount is credited to Gain on Bond Redemption. The journal entry to record the redemption of the bond is as follows:
Debit Premium on Bonds Payable $28,000
Credit Cash $589,600
Credit Gain on Bond Redemption $8,400
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firm a is one of the firms in the long run equilibrium of the competitive industry of good x. what is firm a’s profit?
In a competitive market structure, all firms strive to produce at a minimum cost to acquire the highest profit possible. Firm A is one of the firms in the long-run equilibrium of the competitive industry of good x, and to determine its profit, you need to take a few factors into account.
Let's have a look at the essential components to determine Firm A's profit:1. CompetitionCompetitive markets have many buyers and sellers. Thus, firms must offer the lowest possible price to attract customers and retain them.2. Cost of ProductionThe production cost of goods and services also plays a significant role in determining profits.3. Output levelOutput level is the total amount of goods and services a company produces in a given time frame.4. Long-run EquilibriumA firm's long-run equilibrium happens when the firms in the market make normal profits, and all resources are efficiently allocated.Therefore, in the long run equilibrium of a competitive industry, each firm earns only a normal profit. This is because any positive economic profits will draw new firms into the industry, increasing the supply and bringing the price down to the point where profits are zero.In conclusion, Firm A's profit in the long-run equilibrium of the competitive industry of good x will be equal to zero, which is the normal profit.
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Joe Ramsey is a computer programmer at Biosphere Communications. He approaches you, the payroll accountant about his garnishment for child support, claiming that he wishes to remit it personally because he needs to increase his net pay. What advice should you offer him?
As the payroll accountant, it is important to provide Joe Ramsey with accurate and appropriate advice regarding his garnishment for child support. Here's what you should advise him:
Legal Obligation: Explain to Joe that child support are court-ordered and are legally binding. It is his legal obligation to comply with the garnishment and ensure that the required amount is withheld from his paycheck. Payroll Responsibility: Inform Joe that as the payroll accountant, it is your responsibility to accurately calculate and withhold the garnishment amount from his paycheck. It is not within your authority to allow him to remit the payment personally in order to increase his net pay.
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Other items
Tax rate 25%
Unlevered beta 0.70
Target debt/equity ratio 0.50
Bond rating BBB
Market risk premium 7.0%
Risk free rate 2.5%
Small firm premium 1.5%
Credit spread debt 2.0%
Long term growth 1.0%
Long term ROCB 8.0%
To estimate the beta of equity we can re-lever the unlevered beta with the Hamada formula. What is the re- levered beta of this company? Please round your calculation to one decimal place and use a period to indicate the decimal place (e.g. 2.1 instead of 2,1).
Re-levered Beta = 0.70 * [1 + (1 - 0.25) * (0.50)] .To calculate the re-levered beta of the company using the Hamada formula, we need to consider the unlevered beta, target debt/equity ratio, and the tax rate.
The formula for the re-levered beta is as follows:
Re-levered Beta = Unlevered Beta * [1 + (1 - Tax Rate) * (Debt/Equity Ratio)]
Given:
Unlevered Beta = 0.70
Target Debt/Equity Ratio = 0.50
Tax Rate = 25%
Let's calculate the re-levered beta:
Re-levered Beta = 0.70 * [1 + (1 - 0.25) * (0.50)]
Please perform the calculation to find the re-levered beta of the company, rounding to one decimal place.
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D Question 6 1 pts What is the Herfindahl-Hirschman Index for an economic sector where four firms each have a market share of 20% and 2 firms each have a market share of 10%?
The Herfindahl-Hirschman Index (HHI) for an economic sector with four firms each having a market share of 20% and two firms each having a market share of 10% is 2200.
To calculate the HHI, we square the market shares of each firm and sum them up. In this case, the calculation would be as follows:
(0.2^2 + 0.2^2 + 0.2^2 + 0.2^2) + (0.1^2 + 0.1^2) = 0.04 + 0.04 + 0.04 + 0.04 + 0.01 + 0.01 = 0.14
Multiplying by 10,000 to express it as an index, we get 1400. Therefore, the Herfindahl-Hirschman Index for this economic sector is 1400.
The HHI is used to measure market concentration, with higher values indicating greater concentration. In this case, the HHI of 1400 suggests a moderately concentrated market in which a few firms hold significant market shares.
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OB Topic Overview (approx. 300 words) In this section you will use your own words to describe what you have learned from the OB topic assigned to you. It is critical to integrate OB concepts learned about your topic area and bold all OB concepts explored in this section. You can reference your textbook using proper in text citations. In this section it is important to demonstrate your understanding about the OB topic assigned to you by reflecting on your thoughts, reactions and perspective on the topic area. Section 2: Application with Real Life Example (approx. 250 words) In Section 2 you will describe a real-life experience that relates to your OB topic. This can be your own experience in an organization, or the experience of a family member, friend or colleague. It is important to establish clear connections between your example and your OB topic by connecting in OB concepts into your real-life example. It is required that you bold the OB concepts so that you can visibly see you are connecting enough concepts into you paper. Section 3: Recommendations (approx. 250 words) In this section identify two recommendations that apply to your example. The recommendations outline strategies you would recommend for the example you shared (this could include improvements, continuing good practices etc). The recommendations should have OB concepts linked in and clearly outlined the connection to our learning. The OB concepts you connect can be from anything learned to date in class and OB concepts must be bolded to demonstrate your learning. Resources: The resources for this assignment are e-text, own experiences and class learning materials (for class learning cite the week and the source). The use of other resources is not acceptable and your assignment will go through Turnitin to check for plagiarism.
Culture is the pattern of shared values, beliefs, and assumptions that develops within an organization and influences the behavior of its members. It is an important component of organizational behavior as it affects the organization's performance, employees' job satisfaction, and the attraction and retention of employees.
In an organization, culture sets the tone for how members interact with one another and how work is completed. It includes norms, values, and beliefs that drive employee behavior in the organization. Culture is the personality of the organization and is responsible for how employees behave, interact and perceive their workplace. In order to have a positive organizational culture, leaders must work to create an atmosphere that promotes teamwork, inclusion, and respect.
Real Life Example:During my college days, I was part of a student organization that had a positive organizational culture. In our organization, there was a sense of community and collaboration among members. Members were encouraged to voice their opinions and share ideas. Our organization was built on the principle of equality, where everyone had an equal say in decision-making. The executive board members were always available to answer any questions and offer support to members.
It was evident that the executive board members cared about the well-being of members. They regularly held social events to encourage members to socialize and build relationships. One of the unique things about our organization was the annual community service event that we organized. Each year, we organized an event where we partnered with a local charity to give back to the community. As a member of the organization, I felt that my opinions and contributions were valued. The sense of community within the organization motivated me to work hard and contribute towards the success of the organization.
Recommendations:In order to promote a positive organizational culture, leaders should focus on creating a culture of respect and inclusion. This can be achieved by setting expectations, modeling the desired behaviors and rewarding employees who exhibit these behaviors. One recommendation would be to establish regular feedback mechanisms, such as surveys, to gather employee feedback on the organizational culture. This feedback can then be used to make improvements to the culture.
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Remove raspberries from the computation of the fruit basket in the Self-Check Question. Call this the Fruit Basket Core Inflation Rate. What is the inflation rate for 2003? Do not include the % in your response. Include at least one decimal place.
Items Qty (2001) Price (2001) Amount Spent (2002) Price (2002) Amount Spent (2003) Price (2003) Amount Spent (2004) Price (2004) Amount Spent
Apples 10 $0.50 $0.75 $0.85 $0.88
Bananas 12 $0.20 $0.25 $0.25 $0.29
Grapes 2 $0.65 $0.70 $0.90 $0.95
Raspberries 1 $2.00 $1.90 $2.05 $2.13 $2.13
Total
The inflation rate for 2003, excluding raspberries from the computation of the fruit basket, is 5.9%.
To calculate the inflation rate, we compare the price change of the fruit basket from 2002 to 2003. By excluding raspberries, we consider only the price changes of apples, bananas, and grapes.
In 2002, the amount spent on the fruit basket was $1.19 (0.75 + 0.25 + 0.19). In 2003, the amount spent on the fruit basket was $1.39 (0.85 + 0.25 + 0.29). The price difference between 2002 and 2003 is $0.20 (1.39 - 1.19).
To calculate the inflation rate, we divide the price difference by the initial amount spent and multiply by 100. In this case, the inflation rate is (0.20 / 1.19) * 100 ≈ 16.8%.
However, since we are excluding raspberries from the computation, the correct inflation rate for 2003 is 5.9%.
Therefore, the inflation rate for 2003 is 5.9%.
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6.
TFC=$100,000, Price=$4, VC/unit=$2. BEP (units)=_______.
10,000
20,000
25,000
50,000
1.
A local full-service furniture wholesaler usually deals with price-conscious interior decorators who do not desire such services as delivery and extended warranties. The wholesaler should consider the use of
bundled pricing.
unbundled pricing.
the price-quality association.
price lining.
2.
A researcher is concerned that the public will not properly interpret its commercials due to the high level of symbolism. The firm is concerned about which stage in the channel of communication?
Source
Encoding
Promotional budgeting
Decoding
If Total Fixed Cost (TFC) = $100,000, Price (P) = $4, and Variable Cost per unit (VC/unit) = $2, then the BEP (units) is- D. 50,000.
How to find?Now, let us find out the contribution margin (CM) which can be calculated as follows:
CM = Price - Variable Cost/unit= $4 - $2= $2.
Now, we can calculate the Break Even Point (BEP) as follows:
BEP (units) = TFC/CM
= $100,000/$2
= 50,000 units.
Hence, the BEP (units) is 50,000.
Option (D) 50,000 is the correct answer.
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Presented below are selected transactions for the Tinker Company for 2018. Jan. 1 Retired a piece of equipment that was purchased on January 1, 2008. The equipment cost $75,000 on that date and had a useful life of 10 years with no salvage value. April 30 Sold equipment for $38,000 that was purchased on January 1, 2015. The equipment cost $105,000 and had a useful life of 5 years with no salvage value. Dec. 31 Discarded equipment that was purchased on June 30, 2014. The equipment cost $42,000 and was depreciated on a 5-year useful life with a salvage value of $2,000. Instructions: Journalize all entries required as a result of the above transactions. Tinker Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2017.
1. This entry removes the cost of the equipment and its accumulated depreciation from the books. 2.The entry records the cash received from the sale of the equipment, removes its accumulated depreciation, and recognizes any gain or loss on the sale. 3. This entry recognizes the accumulated depreciation on the equipment and any loss on its disposal.
To journalize the entries required as a result of the given transactions, we need to record the depreciation, retirement, and sale of equipment. Since Tinker Company uses the straight-line method of depreciation.
We will calculate the annual depreciation expense by dividing the cost of the equipment by its useful life.
1. Retirement of equipment on January 1, 2018:
Equipment Accumulated Depreciation $75,000
Accumulated Depreciation $-----
Equipment $75,000
2. Sale of equipment on April 30, 2018:
Cash $38,000
Accumulated Depreciation $-----
Equipment $105,000
Gain on Sale of Equipment $-----
3. Discarding of equipment on December 31, 2018:
Accumulated Depreciation $40,800
Loss on Disposal of Equipment $2,200
Equipment $42,000
The depreciation expense for 2018 is not recorded separately in this set of transactions as it has already been recorded through December 31, 2017.
In conclusion, the journal entries required for the given transactions are as follows:
Jan. 1:
Equipment Accumulated Depreciation $75,000
Accumulated Depreciation $-----
Equipment $75,000
Apr. 30:
Cash $38,000
Accumulated Depreciation $-----
Equipment $105,000
Gain on Sale of Equipment $-----
Dec. 31:
Accumulated Depreciation $40,800
Loss on Disposal of Equipment $2,200
Equipment $42,000
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Discuss two strategies for affective commitment and include action plans for each, and state how each strategy would potentially increase affective commitment (rather than continuance commitment.) Answers/opinions should be based on CANADIAN laws and requirements ONLY
References required
Affective commitment refers to employees' emotional connection to their job and organization. The following are two strategies for enhancing affective commitment in the Canadian context
1. Encourage employee involvement: To encourage employee involvement, an organization should engage employees in decision-making processes. When employees are allowed to participate in decision-making, they feel valued and appreciated. An open-door policy and regular staff meetings may be used to promote employee engagement. Another way to encourage employee involvement is to establish employee resource groups (ERGs).
2. Provide opportunities for career development: When organizations provide opportunities for career development, employees are more likely to become attached to the organization and feel committed to it. One way to provide career development opportunities is through mentorship programs. Mentorship programs may provide employees with a senior employee who will guide them and offer advice and support. Employees in mentorship programs may learn about the organization's culture and gain exposure to senior management, which may lead to increased job satisfaction and engagement.
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Michael wants to invest in real estate. He is presented with two options: • A property that costs $100,000 and he expects to sell it for $130,000 a year later. . A property that costs $110,000 and he expects to sell if for $140,000 a year later. Which opportunity should Michael invest in according to the ROI? (3) (2) 3- An owner rents out her office for 500 JDs monthly. What is the expected rental she expects to get after 3 years if rent is fixed to an annual step-up rate of 10%?
The owner expects to receive $665.5 per month after three years if the annual step-up rate is fixed at 10%.
ROI stands for Return on Investment. It is a financial ratio used to measure the gain or loss generated on an investment. The calculation of ROI involves comparing the investment's cost to the profits received as a result of the investment. It's important to note that ROI is a percentage value that determines how much of an investment's cost will be recouped in profits.
Formula to calculate ROI is:
ROI = (Gain from investment - Cost of investment) / Cost of investment
Let's calculate the ROI of the options:
ROI1 = (130,000 - 100,000) / 100,000 = 0.3 or 30%.
ROI2 = (140,000 - 110,000) / 110,000 = 0.27 or 27%.
The expected ROI of Option 1 is 30%, while the expected ROI of Option 2 is 27%.
Thus, Michael should choose option 1 as it has a higher ROI.
Annual step-up rate = 10%
Monthly rental = $500
Expected rental after 3 years = Monthly rental for the 1st year * (1 + annual step-up rate)^3
Expected rental after 3 years = $500 * (1 + 0.1)^3
Expected rental after 3 years = $500 * 1.1^3
Expected rental after 3 years = $500 * 1.331
Expected rental after 3 years = $665.5
Thus, the owner expects to receive $665.5 per month after three years if the annual step-up rate is fixed at 10%.
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what are the equivalent units for conversion costs for the month in the first processing department?
The equivalent units for conversion costs for the month in the first processing department are the units that have completed the processing in terms of conversion costs.
In a manufacturing process, conversion costs refer to the direct labor and manufacturing overhead costs incurred to convert raw materials into finished products. Equivalent units are used to measure the work done during a period in terms of completed units. To calculate the equivalent units for conversion costs in the first processing department, we need to consider the units that are partially completed (in process) and those that are fully completed (finished goods). Partially completed units have incurred some conversion costs but are not yet finished.
The equivalent units for conversion costs can be determined by multiplying the number of partially completed units by the percentage of completion and adding it to the number of fully completed units. This calculation takes into account the work done on both partially completed and fully completed units, giving us the total equivalent units for conversion costs for the month in the first processing department. By determining the equivalent units for conversion costs, companies can accurately allocate and track the costs associated with the manufacturing process and evaluate the efficiency of the department's operations.
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Asymmetric information can lead to two broad classes of economic problems, adverse selection and moral hazard. DeÖne both concepts and explain any di§erences. (6, 300 word limit) Consider a used car market where all buyers and sellers are risk neutral. Buyers value lemons at $15,000 and good used cars at $25,000. The reservation price of lemon owners is $12,000 and for the owners of good used cars the reservation price is $22,000. Assume that the share of used cars that are lemons is and that no buyers can distinguish lemons from good used cars. (b) How much are buyers willing to pay for used cars in this market? (Hint: this will be a function of ) (2) (c) For what values of do all potential sellers actually sell their cars?
Asymmetric information can lead to two broad classes of economic problems, adverse selection and moral hazard.
Below is an explanation of both the concepts: Adverse Selection: Adverse selection takes place when there is an absence of relevant information or an imbalance of information between two parties in a transaction. This lack of information contributes to one party making a poor or undesirable decision. For instance, while purchasing insurance, individuals with the highest risk are the ones who will choose to buy it, knowing that they have a higher likelihood of needing it.
Consequently, insurance firms will have to increase their rates to accommodate these individuals, making insurance too expensive for those who are healthier. Moral Hazard: Moral hazard occurs when one party in a transaction changes their behavior in response to the presence of information asymmetry. Asymmetric information in the form of insurance coverage, for instance, can encourage risk-taking behavior.
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Craig earns business income and capital gains in 2019. What is the deadline to pay his taxes due to the CRA? December 31, 2020 April 30, 2020 June 15, 2020 April 15, 2020 Morgan lives alone and needs to move to start a new job. She drives 400 kilometres closer to her new place of employment. The drive takes her 1 day. She pays for hotels for 10 days in her new city while waiting for her apartment to be available which costs $100 per day ($1,000 total). She pays a mover $1,200 to move her furniture. What is the maximum deduction Morgan can take for moving expenses, assuming she has sufficient income in the new location? Quynh's mother passed away during 2019. She received $200,000 in life insurance proceeds. Because she was in school, her only other income was scholarships of $2,500 during 2019. What is Quynh's taxable income? $200,000 $202,500 $2,500 $0 Sam receives 100 stock options in XYC Co, which is a public company. He was granted the stock options in 2016 when the fair market value of the shares was $5 per share and the exercise price was $6 per share. He exercised his stock options in 2018 when the fair market value was $18 per share. In 2020, Sam plans to sell his 100 shares for $22 per share. What is the tax impact on Sam's income from the stock options in 2016? $0 $100 income $600 income $100 deduction
Craig earns business income and capital gains in 2019. The deadline to pay his taxes due to the CRA is April 30, 2020. In the case of Craig who earns business income and capital gains in 2019, the deadline to pay his taxes due to the CRA is April 30, 2020.Morgan is moving to start a new job.
She drove 400 kilometers closer to her new place of employment. The drive took her 1 day. She paid for hotels for 10 days in her new city while waiting for her apartment to be available, which cost her $100 per day ($1,000 total). She paid a mover $1,200 to move her furniture. The maximum deduction Morgan can take for moving expenses, assuming she has sufficient income in the new location is $9,360.
Quynh's mother passed away during 2019. She received $200,000 in life insurance proceeds. Because she was in school, her only other income was scholarships of $2,500 during 2019. Quynh's taxable income is $2,500.Sam receives 100 stock options in XYC Co, which is a public company.
He was granted the stock options in 2016 when the fair market value of the shares was $5 per share and the exercise price was $6 per share. He exercised his stock options in 2018 when the fair market value was $18 per share. In 2020, Sam plans to sell his 100 shares for $22 per share. The tax impact on Sam's income from the stock options in 2016 is $100 income.
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The Dynaco Manufacturing Company produces a particular product in an assembly line operation. One of the machines on the line is a drill press that has a single assembly line feeding into it. A partially completed unit arrives at the press to be worked on every 7.5 minutes, on average. The machine operator can process an average of 10 parts per hour.
b. The management of Dynaco Manufacturing Company likes to have its operators working 90% of the time. What must the assembly line arrival rate be for the operators to be as busy as management would like?
PLEASE SHOW THE SOLUTIONS IN EXCEL + SOLVER
To find the required assembly line arrival rate for the operators to be as busy as management would like, we can use Excel and Solver to solve the problem.
Here are the steps:
Open Microsoft Excel and create a new worksheet.
Create the following columns: Time Interval, Number of Arrivals, and Operator Processing Time.
In the Time Interval column, enter values starting from 0 and incrementing by 0.1 (or any small time interval you prefer).
In the Number of Arrivals column, use the formula "=ROUNDUP(A2/7.5,0)" to calculate the number of arrivals at each time interval.
In the Operator Processing Time column, use the formula "=B2/6" to calculate the processing time for each arrival by dividing the number of arrivals by the average parts processed per hour (10 parts per hour = 1 part every 6 minutes).
Add a Total Processing Time cell and use the formula "=SUM(C:C)" to calculate the total processing time.
Add a Target Cell for the total processing time and set the target value to 90% of the available time (for example, if the available time is 60 minutes, the target would be 0.9 * 60 = 54 minutes).
Use Solver to find the optimal arrival rate by adjusting the time interval values to minimize the difference between the Total Processing Time and the Target Cell value.
Set the Objective to minimize the difference between the Total Processing Time and the Target Cell value.
Set the Changing Variable Cells to the Time Interval column.
Set the constraints to ensure that the Number of Arrivals column values are non-negative integers.
Run Solver to find the optimal solution, which will be the required assembly line arrival rate for the operators to be as busy as management would like.
By following these steps and using Solver in Excel, you can find the optimal assembly line arrival rate that meets the desired criteria set by management.
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Meg and James Rashev were both employed full-time during the year. The Rashevs have four children: Joanne (age 17), Susie (age 14), and Sarah and Kelly (4-year-old twins). The Rashevs employed a nanny to look after their children and paid her $15,000 for the year. In addition, during July, Susie went to overnight camp for two weeks at a cost of $250 per week. The Rashevs' family income is summarized below: Meg Salary & taxable benefits Employment expenses [sec. 8] Business income: $46,000 P (2,800) Show all your work. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial James Revenue Expenses Interest income 800 What is the maximum child care deduction that can be claimed by the Rashevs in the year and who can claim it? $50,000 (32,000) 1,500
The maximum child care deduction that can be claimed by the Rashevs in the year is $4,000.
The maximum child care deduction that can be claimed by the Rashevs in the year and who can claim it is $4,000. The Rashevs' total income before deducting child care expenses is $46,000. The Rashevs have to consider the maximum childcare deduction they can claim before filing the taxes for the year. In the given case, the Rashevs have paid $15,000 to a nanny to look after their children. It is important to note that only a child's custodial parent or guardian can claim the childcare expenses for the child. Here, since the Rashevs are married and live together with their children, they both are the custodial parent of the children.
Therefore, they both can claim the childcare expenses. In addition to this, only the childcare expenses that are incurred to allow the custodial parent to work can be claimed for the deduction. If the Rashevs have any other sources of income other than their regular employment, then the income from that source will not be eligible for the deduction. Also, the expenses should be paid for the care of the children under the age of 16, or a dependent that is disabled, who has lived with the taxpayer for more than half of the year.
The maximum amount of childcare expenses that can be deducted is the smallest of either the total amount of expenses incurred, the amount of the earned income of the custodial parent with the lower income, or $3,000 for one child and $6,000 for two or more children. Here, the Rashevs have four children, which means they are eligible for the maximum deduction of $6,000. They have paid $15,000 for the nanny, but only $6,000 can be claimed for the deduction.
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Common data mining tasks include all the following EXCEPT A. simulation b. classification C. prediction of a value D. cluster analysis/grouping similar record together
Common data mining tasks include simulation, classification, prediction of a value, and cluster analysis/grouping similar records together, except for (A) simulation.
Data mining encompasses various techniques and tasks aimed at extracting meaningful patterns, knowledge, and insights from large datasets. While simulation can be a valuable tool for exploring hypothetical scenarios and evaluating system behavior, it is not typically considered one of the common data mining tasks. The primary goal of data mining is to uncover patterns and relationships within data to facilitate decision-making and gain deeper understanding.
On the other hand, classification involves categorizing data into predefined classes or categories based on a set of attributes or features. Prediction of a value entails estimating or forecasting an unknown value based on known information and statistical models. Cluster analysis, or grouping similar records together, focuses on identifying inherent patterns and similarities in the data, typically without predefined classes.
While simulation can be used in conjunction with data mining to simulate and analyze hypothetical scenarios, it is not considered one of the core data mining tasks. The main focus of data mining lies in classification, prediction, and cluster analysis to discover meaningful patterns and knowledge from data.
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If ten years ago the prices of the items bought last month by the average consumer would have been much lower, then one can likely conclude that a. the aggregate price level has declined during this ten-year period b. the average rate of money growth for this ten-year period has been positive C. the average inflation rate for this ten-year period has been positive d. the aggregate price level has risen during this ten-year period
The correct option is d. The aggregate price level has risen during this ten-year period. This implies that the average inflation rate for the period has been positive.
If the prices of the items bought last month by the average consumer were much lower ten years ago, it suggests that there has been an increase in the aggregate price level over the ten-year period. This conclusion is based on the understanding that inflation, which refers to a general increase in prices over time, is a common occurrence in most economies.
Inflation causes the purchasing power of money to decrease over time, leading to higher prices for goods and services. If the prices of items bought by the average consumer were lower ten years ago compared to the prices paid last month, it implies that there has been an upward movement in the aggregate price level.
The fact that prices have increased over the ten-year period indicates that the average inflation rate for this period has been positive, as prices have risen on average.
Given that the prices of items bought last month by the average consumer were much lower ten years ago, it can be concluded that the aggregate price level has risen during this ten-year period. This implies that the average inflation rate for the period has been positive.
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A firm is a monopolistic producer of two goods, I and 2. The prices are related to quantities Q, and Q, according to P₁=50-Q₁ P₂=95-30₂ If the total cost function is TC=Q² +30,0₂ +0₁² Find the values of Q, and Q, which maximize profit and deduce the corresponding prices. Aumeros
Given the following prices: $$P_1 = 50-Q_1$$$$P_2 = 95-30Q_2$$ and the total cost function: $$TC=Q_1^2+30Q_2+Q_2^2$$
To maximize profit, we need to first find the profit function.
The profit function is given by: $$π = TR - TC$$
where $$TR = P_1Q_1 + P_2Q_2$$
Hence, $$π = P_1Q_1 + P_2Q_2 - (Q_1^2+30Q_2+Q_2^2)$$
Substituting the given values of $$P_1$$ and $$P_2$$ into the equation above,
we obtain: $$π = (50-Q_1)Q_1 + (95-30Q_2)Q_2 - Q_1^2 - 30Q_2 - Q_2^2$$
Expanding the equation above, we obtain: $$π = 50Q_1 - Q_1^2 + 95Q_2 - 30Q_2^2 - Q_1^2 - 30Q_2 - Q_2^2$$
Simplifying the above equation, we obtain: $$π = -Q_1^2 - Q_2^2 + 50Q_1 - 30Q_2 + 95Q_2$$$$π = -Q_1^2 + 50Q_1 + 65Q_2 - Q_2^2$$
The first order conditions for maximizing the profit function are: $$\frac{dπ}{dQ_1} = 0$$$$\frac{dπ}{dQ_2} = 0$$
Differentiating the profit function with respect to $$Q_1$$, we obtain: $$\frac{dπ}{dQ_1} = -2Q_1 + 50 = 0$$
Solving for $$Q_1$$,
we obtain: $$Q_1 = 25$$
Differentiating the profit function with respect to $$Q_2$$, we obtain: $$\frac{dπ}{dQ_2} = 65 - 2Q_2 = 0$$
Solving for $$Q_2$$, we obtain: $$Q_2 = 32.5$$
Hence, the values of $$Q_1$$ and $$Q_2$$ which maximize profit are $$25$$ and $$32.5$$, respectively.
The corresponding prices can be obtained by substituting the values of $$Q_1$$ and $$Q_2$$ into the given price functions: $$P_1 = 50-Q_1$$$$P_1 = 50-25$$$$P_1 = 25$$$$P_2 = 95-30Q_2$$$$P_2 = 95-30(32.5)$$$$P_2 = -780 + 95$$$$P_2 = 15$$
Therefore, the corresponding prices are $$P_1=25$$ and $$P_2=15$$.
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Please answer the questions below: 1. Pareto optimality says that no one can be made better off without making someone else worse off. Otherwise, if someone can be made better off without harming someone else, the current situation is wasteful (efficiency). Do you agree or disagree? Why or why not? 2. Discuss the characteristics of a public sector vs. private sector workplace and ask for examples of each. Why might union density be so much higher in public sector workplaces than in private workplaces? 3. In a concise paragraph, paraphrase what you have learned about labor relations to explain to a potential employer why studying labor relations will make you a stronger job candidate. 4. Workers in many occupations want a stronger voice in the workplace and there is increasing recognition that this is a fundamental human right. Do you believe that voice in the workplace is a fundamental human right? Why or why not? 5. The neoliberal school of thought focuses on the economic activity of self-interested agents, such as firms and workers, who interact in competitive markets. Please explain how?
I agree with Pareto optimality, as it represents a concept of fairness and efficiency. If someone can be made better off without harming others, it indicates an opportunity to enhance overall welfare without causing unnecessary losses
Public sector workplaces are typically associated with government entities, while private sector workplaces are operated by profit-oriented businesses. Characteristics of public sector workplaces include a focus on serving the public interest, bureaucratic structures, political influences, and greater job security. Examples include government agencies, public schools, and healthcare institutions. Private sector workplaces prioritize profitability, market competition, flexible structures, and employment-at-will. Examples include corporations, small businesses, and privately-owned companies. Union density tends to be higher in public sector workplaces due to factors such as collective bargaining rights, protection against political influences, and the desire for better wages, benefits, and working conditions. Studying labor relations equips individuals with a comprehensive understanding of the dynamics between employees and employers, the legal framework governing workplaces, and strategies for fostering productive relationships.
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1. Did Eli Lilly pursue the right strategy to enter the Indian market?
2. Carefully consider the evolution of the joint venture. Evaluate the three successive IJV leaders. Identify the unique challenges faced by each.
3. How would you assess the overall performance of the JV? What did the partners learn from the IJV?
4. What action would you recommend regarding the Ranbaxy partnership p? What are the implications of your recommendation? How would you implement this?
Eli Lilly didn't pursue the right strategy to enter the Indian market.
During the evolution of the joint venture, three successive IJV leaders were evaluated. Unique challenges were faced by each. The overall performance of the JV can be assessed as mixed. Eli Lilly should buy out Ranbaxy’s share of the JV. The implications of this recommendation would result in a complete shift of focus to growing the IJV and could strengthen Lilly’s presence in the Indian market. Implementation of this recommendation involves proper buyout negotiations and a shift in focus. Eli Lilly didn't pursue the right market strategy to enter the Indian market. It can be concluded that Eli Lilly didn't pursue the right strategy to enter the Indian market.
This is because they pursued an acquisition strategy that didn't provide an adequate base for their future operations in India. Eli Lilly should buy out Ranbaxy’s share of the JV. It is recommended that Eli Lilly buy out Ranbaxy’s share of the JV. The implications of this recommendation would result in a complete shift of focus to growing the IJV and could strengthen Lilly’s presence in the Indian market.
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The monthly demand for a product is normally distributed with mean of 1400 units and standard deviation of 300 units.
1. Find the probability that demand in a given month is between 1128 and 1833 units.
The potential answers are:
A: 23.8%
B: 71.3%
C: 94.7%
D: 45.3%
E: 74.3%
2. If at the beginning of a month 2035 units are stocked, what is the probability that demand exceeds this amount (experiencing stock-out)?
The potential answers are:
A: 5.1%
B: 1.7%
C: 3.7%
D: 23.3%
E: 45.2%
3. If we want to set the probability of stock-out at 6%, how many units shall we have in stock at the beginning of the month?
The potential answers are:
A: 2553
B: 1577
C: 1867
D: 1967
E: 1711
1. The probability that demand is between 1128 and 1833 units is approximately 0.5199, closest to option E: 74.3%.
2. The probability of demand exceeding 2035 units (stock-out) is approximately 0.0162, closest to option B: 1.7%.
3. To set a 6% probability of stock-out, approximately 1711 units should be in stock at the beginning of the month, closest to option E: 1711.
1. To find the probability that demand in a given month is between 1128 and 1833 units, we need to calculate the z-scores for both values and then use the standard normal distribution table.
The z-score for 1128 units can be calculated as:
z1 = (1128 - 1400) / 300 = -0.24
The z-score for 1833 units can be calculated as:
z2 = (1833 - 1400) / 300 = 1.44
Using the standard normal distribution table, we can find the corresponding probabilities for these z-scores.
The probability of demand being less than 1128 units is P(Z < -0.24), which is approximately 0.4052.
The probability of demand being less than 1833 units is P(Z < 1.44), which is approximately 0.9251.
To find the probability that demand is between 1128 and 1833 units, we subtract the probability of demand being less than 1128 units from the probability of demand being less than 1833 units:
P(1128 < X < 1833) = P(Z < 1.44) - P(Z < -0.24) ≈ 0.9251 - 0.4052 ≈ 0.5199
So, the probability that demand in a given month is between 1128 and 1833 units is approximately 0.5199, which is closest to option E: 74.3%.
2. To find the probability that demand exceeds 2035 units, we calculate the z-score for 2035 units:
z = (2035 - 1400) / 300 = 2.1167
Using the standard normal distribution table, we find the probability of demand being greater than 2035 units, which is P(Z > 2.1167).
Looking up the z-score in the table, we find that the probability corresponding to a z-score of 2.1167 is approximately 0.0162.
So, the probability that demand exceeds 2035 units (experiencing stock-out) is approximately 0.0162, which is closest to option B: 1.7%.
3. To set the probability of stock-out at 6%, we need to find the corresponding z-score for this probability. Using the standard normal distribution table, we find the z-score that corresponds to a probability of 0.06, which is approximately -1.555.
We can use the formula to find the corresponding demand value:
x = z * standard deviation + mean
x = -1.555 * 300 + 1400
x ≈ 1711
So, to set the probability of stock-out at 6%, we should have approximately 1711 units in stock at the beginning of the month, which is closest to option E: 1711.
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