The statements which are the reasons why advertising is an effective solution to the problem of some private nonrival goods are that advertising attracts new clientele and advertising covers the cost of provision. Therefore, the correct options are B and C.
Advertising is a way of communication to persuade an audience or a group to purchase or take some actions with respect to products, services, or ideas. It is a paid form of non-personal communication. Advertising is all about communicating with the audience about the importance of the product in their daily lives.
Advertising is very important because it is effective and generates revenue for the company.Advertising is an effective solution to the problem of some private nonrival goods. Private nonrival goods are the goods which are non-rival but are exclusive, i.e., they have to be paid to get the benefits.
The reasons why advertising is an effective solution to the problem of some private nonrival goods:
Advertising attracts new clientele: New customers can be attracted through various means of advertising, such as digital advertising, billboards, or print advertising. Advertising can create awareness and make people understand the importance of the product, which will eventually lead to the purchase of the product.
Advertising covers the cost of provision: It helps to generate revenue for the company. By advertising the product, the company can charge more for the product, which will increase the profit margins.
Advertising does not provide a way for firms to make an even higher profit than offering the good with exclusion. The goods that are exclusive and have to be paid for can generate revenue even without advertising. But advertising can create brand awareness, and it can help to build the brand value of the product, which will eventually lead to higher profit margins. Therefore, option A is incorrect and option B and C are correct.
Note: The question is incomplete. The complete question probably is: Which statements are reasons why advertising is an effective solution to the problem of some private nonrival goods? A) Advertising provides a way for firms to make an even higher profit than offering the good with exclusion. B) Advertising attracts new clientele. C) Advertising covers the cost of provision.
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Illiams owns 18% of first mfg. Co. Williams has filed a lawsuit against management of first mfg. Co. , but not against its auditors, claiming that management reported at december 31 three times the number of physical units in inventory than actually existed. Unit costs used to value the inventory are not at issue. Jones, partner in charge of the first mfg. Co. Audit, is called on to testify as to the amount of inventory first mfg. Co. Had at december 31. He testifies before the trier of facts as to his audit staff's observation of the inventory taken by first mfg. Co. S personnel on december 31 and his audit staff's test counts of more than 50% of the units in inventory. As he finishes his testimony, the trier of facts asks whether in jones' opinion first mfg. Co. S procedures for controlling inventory are adequate. Jones answers the question giving his opinion on first mfg. Co. S controls over inventory. What effect does jones' testimony, both as to the auditor's observation of the inventory at december 31 and his opinion on the adequacy of first mfg. Co's internal controls over inventory have on his firm's independence with first mfg. Co. ?
Jones's testimony may be intended to support the auditor's work, but it could potentially undermine the independence of his firm and raise questions about the quality of the audit work performed.
Jones's testimony regarding the auditor's observation of the inventory on December 31 and his opinion on the adequacy of First Mfg. Co's internal controls over inventory could potentially have a negative effect on his firm's independence with First Mfg. Co.
As an auditor, Jones and his firm have a responsibility to remain independent and unbiased when performing an audit of First Mfg. Co's financial statements. However, by testifying in court about the adequacy of First Mfg. Co's internal controls over inventory, Jones may be seen as providing advisory services to the company, which could compromise his independence.
Furthermore, Jones' testimony about the auditor's observation of the inventory could also raise questions about the audit procedures his firm performed. If his firm observed the inventory and counted more than 50% of the units in inventory, why did they not catch the alleged misstatement in the financial statements?
It is important for auditors to maintain independence and avoid providing advisory services to the companies they audit to ensure the integrity and reliability of the financial statements.
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hich of the following represents a legitimate increase in LTC policy premiums for existing insureds? a. Insurer A issued a premium increase notice for anyone whose claims experience had been 10 percent higher than originally anticipated. b. Insurer B raised the premiums of all its insureds in a particular city whose residents filed twice as many claims per capita than any other city. c. Insurer C raised the premiums of Lester's policy because he has shown symptoms of cognitive failing. d. Insurer D increased renewal premiums for all its insureds who are age 71 and over
d) Insurer D increased renewal premiums for all its insureds who are age 71 and over.
This increase in premiums is considered a legitimate increase for existing insureds because the insurer is basing the increase on the insured's age. Age is a factor that is taken into account when determining the premiums for LTC policies.
This increase is not based on any particular individual's claims experience or cognitive abilities; rather, it is a blanket increase based on the age of the insured. This increase is also likely within the insurer's authority to make, as it is not discriminatory and is based on a legitimate factor.
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X company, which uses a perpetual inventory system, sold 2000 of merchandise on account with credit terms of 2/10, n/30. The journal entry to record the initial sale gross of any discounts will include ______.a debit to accounts receivable of 2000 anda credit to sales revenue of 2000
The journal entry would debit $2000 from accounts receivable and credit $2000 from sales revenue in order to reflect the initial sale gross of any discounts.
Due to the fact that the sale hasn't been paid for, when a business sells products on account, it records a receivable, an asset account. Additionally, the sale is recorded as income, increasing the business's revenue.
The customer may receive a 2% discount if they pay within 10 days of the sale's conditions of 2/10, n/30; else, they must pay the entire price within 30 days. Therefore, the journal entry should be recorded before the customer pays the amount due, as the sale has already been made.
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Consider two bonds, one issued by the Coca-Cola Co. and the other issued by the State of Georgia. Both bonds have similar nontax characteristics (risk, for example), the same face value of $10,000, and the same market interest rate of 10 percent. The only difference between the two bonds is that the interest income from the Coca-Cola Co. bond is subject to a 20 percent income tax rate, whereas the interest income from the State of Georgia bond is tax-exempt with a 0 percent tax rate. Which of the two bonds is a better investment and should therefore have a higher demand? ex: 1-12
The difference between the return after taxes (10 percent vs. 8 percent), the better investment—again, all other investment features being equal—is the State of Georgia bond because it provides a higher after-tax return.
The better investment is the State of Georgia bond because the interest earned from the Coca-Cola bond is taxed at a rate of 20%, whereas the State of Georgia bond is tax-exempt, with a 0% tax rate.
As a result, the State of Georgia bond provides a higher after-tax return, making it a better investment. Furthermore, given that the bonds are comparable in all other respects, the State of Georgia bond should have a higher demand.
A bond is a debt instrument in which an investor loans money to an entity (typically corporate or governmental) that borrows the funds for a specified amount of time at a predetermined interest rate. In exchange, the borrower agrees to repay the amount borrowed (the principal) at a specified date, with interest added.
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journal entries used to prepare temporary accounts for a new fiscal period. true or false?
The statement "Journal entries used to prepare temporary accounts for a new fiscal period" is false.
Temporary accounts, such as revenue, expense, and dividend accounts, are used to accumulate information for a specific accounting period and are closed at the end of that period. The purpose of closing temporary accounts is to transfer their balances to a permanent account, typically the retained earnings account, in order to prepare the accounts for the next fiscal period.
Closing entries are used to close temporary accounts and transfer their balances to the appropriate permanent accounts. These entries are typically made at the end of the accounting period, not at the beginning of a new fiscal period.
Therefore, journal entries are not used to prepare temporary accounts for a new fiscal period, but rather to close temporary accounts at the end of the current fiscal period.
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Which of the following is true of exporting?
A) It avoids the costs of establishing manufacturing operations in the host country.
B) It is the preferred mode for selling bulk products globally.
C) It gives maximum control over the distribution network.
D) It is preferred when tariff barriers are high.
E) It prevents firms from achieving experience curve and location economies.
Exporting avoids the costs of establishing manufacturing operations in the host country is true of exporting. Option A.
Exporting refers to a firm's strategy of marketing or selling products to customers or other businesses in foreign markets. It is the oldest and most common form of international business activity, as well as the most widely used.
The export of goods and services across borders is known as exporting. It is the most basic and widely used method of entering foreign markets. A manufacturer in one country produces and sells goods to customers in another country using this method.
Hence, the correct answer is Option A "It avoids the costs of establishing manufacturing operations in the host country".
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abc corp. stock is currently trading at $17.42. how does the strike price in a put option for abc stock at $21.75 limit the risk for you as the buyer of the put option?
Note that the strike price in a put option for ABC stock at $21.75 limits the risk for the buyer of the put option by guaranteeing that they can sell the stock at a higher price than its current market value, protecting them from potential losses.
What is a Strike Price?A strike price is the price at which an option can be exercised to buy or sell an underlying asset.
Thus, with regard to the above, a put option is a type of financial contract that gives the holder the right, but not the obligation, to sell an underlying asset at a specified price (the strike price) on or before a specific date.
If the price of the underlying asset decreases below the strike price, the holder of the put option can exercise their right to sell the asset at a higher price than its current market value, limiting their potential losses.
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Which of the following internal controls most likely would reduce the risk of diversion of customer receipts by an entity's employees?A) A bank lockbox system.B) Prenumbered remittance advices.C) Monthly bank reconciliations.D) Daily deposit of cash receipts.
"Daily deposit of cash receipts" is the internal control that would most likely reduce the risk of diversion of customer receipts by an entity's employees. The correct answer is option D.
By depositing the cash receipts on a daily basis, the entity can limit the amount of cash available for employees to divert. The bank lockbox system, prenumbered remittance advices, and monthly bank reconciliations are also effective internal controls, but they are not specifically designed to address the risk of employee diversion of customer receipts.
Option D is the correct answer.
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which type of team is most likely to be given the task of designing a new product and bringing it into production?
Type of team that is most likely to be given the task of designing a new product and bringing it into production is a cross-functional team.
Cross-functional teams are usually assembled to address a particular business problem, such as developing a new product or improving a current process.
These teams typically include individuals from various departments, including engineering, marketing, sales, manufacturing, design, and other functions. The primary objective of a cross-functional team is to bring together diverse skill sets and perspectives to work on a common goal.
Since each member of the team comes from a different area of the company, they are more likely to consider issues from a variety of perspectives. This can help the team to identify new ideas and solutions to problems that might not have been considered otherwise.
So, the most likely team that is given the task of designing a new product and bringing it into production is a cross-functional team.
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which term describes the price a consumer pays for the privilege of using someone else’s money?
Whiston Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for a recent month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion 40 60% 50% Costs in the beginning inventory: Materials cost Conversion cost $6,200 $16,300 190 Units started into production during the month Costs added to production during the month: Materials cost Conversion cost $42,390 $136,340 Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion 30 50% 40% You are asked to prepare the cost reconciliation report for the department. Completion Materials Conversion Units 40 60% 50% Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Costs added to production during the month: Materials cost Conversion cost $6.200 $16,300 Equivalent units Materials Conversion Units 190 Work in process, beginning Units started into production in the month work in process, ending Step 1: Equivalent Units Units completed and transferred out in the month work in process, ending EU of production in the department during the month Step 2: Cost per EU Cost to be accounted for Work in process, beginning Costs added in the department $42.390 $136.340 Total cost Materials Conversion Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion 30 50% 409% Total cost Materials Conversion Equivalent Units (Som Step 1) Cost per EU Step 3: Cost assignment Work in process, ending Equivalent units Cost per EU Cost of ending WIP Units completed during the month: Units completed transferred-out Cost per EU Cost of units completed and transferred out Step 4: Cost reconciliation Cost to be accounted for: Cost of beginning WIP Costs added to production during the month Total cost to be accounted for Total cost Cost accounted for as follows: Cost of ending WIP Cost of units completed and transferred out Total cost accounted for
The cost reconciliation report for the Whiston Corporation's first processing department in a recent month can be $48,590 (Cost to be accounted for) = $53,590 (Total cost accounted for)
Step 1: Equivalent units are calculated as:
Materials: 40 (Beginning WIP) + 190 (Started into production during the month) - 30 (Ending WIP) = 200
Conversion: 60% (Beginning WIP) + 50% (Started into production during the month) - 40% (Ending WIP) = 70%
Step 2: Cost per equivalent unit is calculated as:
Materials: ($6,200 (Beginning WIP) + $42,390 (Costs added to production during the month)) / 200 = $233
Conversion: ($16,300 (Beginning WIP) + $136,340 (Costs added to production during the month)) / 70% = $19
Step 3: Cost assignment is done as:
Work in process, ending: 30 (Units in process) x $233 (Cost per EU) = $6,990 (Materials) + 40% (Percent complete with respect to conversion) x $195 (Cost per EU) = $7,800 (Conversion)
Units completed during the month: 200 (Equivalent units) x $233 (Cost per EU) = $46,600 (Materials) + 70% (Percent complete with respect to conversion) x $195 (Cost per EU) = $136,500 (Conversion)
Step 4: Cost reconciliation is done as:
Cost to be accounted for: $6,200 (Beginning WIP) + $42,390 (Costs added to production during the month) = $48,590
Total cost accounted for as follows: $6,990 (Cost of ending WIP) + $46,600 (Cost of units completed and transferred out) = $53,590
Total cost: $48,590 (Cost to be accounted for) = $53,590 (Total cost accounted for)
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the information that is documented in variables sampling . multiple select question. includes the method and parameters used to determine sample size and the rationale for these assessments is the same regardless of the type of sampling application (mus, classical variables sampling, or nonstatistical sampling) includes definitions of the characteristic of interest, the population, and the sampling unit.
Includes the method and parameters used to determine sample size. The correct option is includes definitions of the characteristic of interest, the population, and the sampling unit.
The rationale for these assessments is the same regardless of the type of sampling application (MUS, classical variables sampling, or nonstatistical sampling).Variables sampling is a technique that is employed in statistical process control to collect data from a given process. The collected data is then utilized to assess the quality of the process. The variables sampling technique is widely used in quality control programs in industries such as manufacturing, engineering, and construction.
The technique is used to establish the extent of variations in a process, which is used to assess the process's quality. The technique is based on the collection of a sample of units from a given process. These units are then tested to establish the process's variability.
The information that is documented in variables sampling includes the method and parameters used to determine sample size, the rationale for these assessments, definitions of the characteristic of interest, the population, and the sampling unit. This documentation is the same regardless of the type of sampling application used, whether it is MUS, classical variables sampling, or nonstatistical sampling.
In conclusion, The correct option is includes definitions of the characteristic of interest, the population, and the sampling unit.
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1.SpaceX builds a space elevator to carry goods into space without the use of rockets. This is an example of .
A.related diversification
B.vertical intergration
C.diversification
D.unrelated diversification
2.When a company purchases another business that does something different from what the purchasing company does, the purchasing company is using a strategy of
A.unrelated diversification
B. vertical integration
C. related diversification
3.Pretend that you own a small coffee shop. You have decided that this year is a good time to grow your business, and you have chosen to do so by acquiring a coffee cup manufacturer across town. This is an example of .
A. vertical integration
B. unrealted diversification
C. related diversification
4.Diversification is most frequently associated with a strategy of .
A.stability
B. growth
C. retrenchment
answer all 4 please.
Rockets are an example of vertical integration. The company is using a strategy of unrelated diversification. This is an example of unrelated diversification. Diversification is most frequently associated with a strategy of growth. Thus, option 1. (b), 2. (a), 3. (b), 4. (b) is correct.
Vertical integration includes lowering the number of outside suppliers and putting more emphasis on internal production. The process of investing financial resources in a new market or industry, or creating one or more items to offer on a new market, is known as diversification.
One of the four key growth strategies described by Igor Ansoff in 1957 is diversification strategy, which enables businesses to consider new industries they may enter or new products they could introduce to broaden their customer base and boost their income.
Therefore, option 1. (b), 2. (a), 3. (b), 4. (b) is correct.
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according to the bureau of labor statistics, it is important for a market and survey researcher to be
According to the Bureau of Labor Statistics, it is important for a market and survey researcher to be meticulous, patient, and persistent.
What is a market and survey researcher?Market research is a type of business analysis that involves collecting, analyzing, and interpreting data from a variety of sources. A market and survey researcher, in particular, is in charge of conducting research and gathering data on potential buyers, competitors, and market trends.
A market and survey researcher should possess the following skills:
Meticulous: Exceedingly or excessively attentive in considering or handling little matters.
Patient: able to maintain composure and avoid getting agitated when interacting with unpleasant people or when waiting for a long time.
Persistent: How long someone is capable of and willing to commit to a task for, even when it is difficult, is referred to as persistence.
Even when they encounter obstacles along the way, some people are prepared to keep working on something.
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Esquire Comic Book Company had income before tax of $1,750,000 in 2021 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $415,000. The division generated before-tax Income from operations from the beginning of the year through disposal of $650,000. 2. The company incurred restructuring costs of $80,000 during the year. Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021
Income from continuing operations Discontinued operations: Income from operations of discontinued component 199,000 Income tax expense (49,750)
Income (loss) on discontinued operations 149,250 Net income (loss)
From the information that can be retrieved, the income statement shows the net income (loss) is $ 1,284,250.
Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.)
Esquire Comic Book Company Partial Income Statement For the Year Ended December 31, 2021
Income from continuing operations: $1,135,000
Discontinued operations:
Income from operations of discontinued component $199,000Income tax expense $(49,750)Income (loss) on discontinued operations $149,250Net income (loss) $1,284,250Learn more about Income Statement: brainly.com/question/15169974
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The residual interest in a corporation belongs toA. the common stockholders.B. the preferred stockholders.C. the Board of Directors.D. Management.
The correct option is A, The residual interest in a corporation belongs to the common stockholders.
A corporation is a type of legal entity that is separate and distinct from its owners or shareholders. It is created by filing articles of incorporation with the appropriate state authority, which grants the corporation certain rights and privileges. One of the key benefits of a corporation is limited liability protection for its owners, which means that they are generally not personally responsible for the corporation's debts and legal obligations.
Corporations have a number of advantages over other forms of business, including the ability to raise capital by selling stock, perpetual existence (meaning the corporation can continue to operate even if one or more shareholders die or sell their shares), and centralized management. They also have certain legal requirements, such as holding annual meetings and keeping accurate financial records.
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what were the goals of taylor's scientific management? multiple select question. benefit the firm increase focus on human factors increase worker productivity benefit the worker
Taylor's scientific management aimed to benefit the firm, increase worker productivity, and benefit the worker.
In the management of the activities of the enterprise, the primary purpose of Taylor's scientific management was to benefit the business. Taylor considered increasing the effectiveness of the worker and enhancing productivity as ways to achieve this aim.
One of the goals of the scientific management approach was to minimize the time needed for a worker to complete a job by dividing it into smaller, more simple parts, thereby making it easier to finish. This saves time, reduces production expenses, and helps the firm to prosper.
Increased worker productivity is another goal of Taylor's scientific management. It involves breaking down the job into smaller, more manageable components, teaching employees how to conduct their work effectively, and offering performance-based incentives to ensure they maintain high productivity. This can boost worker morale and encourage them to work harder for the company.
Benefit the worker is the third goal of Taylor's scientific management. Taylor thought that enhanced working conditions, such as improved lighting and air quality, would increase worker output. He believed that happy employees would be more productive and perform their duties to the best of their abilities.
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A mortgage is in the amount of $800,000. The origination fee is 0.4%, the intangible tax is 0.2%, and there are 3.5 discount points. Which of the following is the total cost of the origination fee, the intangible tax, and the discount points? (3 points) $28,000 $32,800 $29,600 $4,800
The total cost of the origination fee, the intangible tax, and the discount points is $29,600. This is calculated by taking the mortgage amount of $800,000 and multiplying it by the sum of the origination fee (0.004), intangible tax (0.002), and discount points (0.035): $800,000 x (0.004 + 0.002 + 0.035) = $29,600.
A mortgage is a type of loan used to buy real estate, in which the property is pledged as collateral to the lender, until the loan is fully paid off. Mortgage loans are typically offered by financial institutions such as banks, credit unions, or mortgage companies
An origination fee is a fee charged by a lender to process the loan application. It is generally a percentage of the total loan amount. The fee is designed to cover the cost of processing the loan application and to compensate the lender for the time and effort involved in approving the loan.
An intangible tax is a tax levied by a government on certain types of transactions, such as the transfer of real property or the granting of a mortgage. It is a percentage of the value of the transaction.
Discount points are fees paid to a lender at closing to reduce the interest rate on a mortgage loan. One discount point typically costs 1% of the total loan amount and can reduce the interest rate by 0.25%.
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which note-taking method involves sketching out your main ideas using bullet points?
The note-taking method that involves sketching out your main ideas using bullet points is called the Cornell Note-Taking System.
This system was developed by Dr. Walter Pauk at Cornell University in the 1950s and is widely used today. It consists of dividing the paper into three parts: a cue column on the left side, a main note column in the middle, and a summary column on the right. In the main note column, the student should take notes while the lecture is being given. After the lecture, they should summarize the notes in the summary column. Finally, the student should jot down the main ideas, questions, or keywords in the cue column by sketching out a visual representation of the main ideas using bullet points.
This system is helpful for reviewing and studying as it helps the student organize their notes.
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When using absorption costing and explaining changes in operating income, financial statement users need to be aware of changes in ___ levels.
When using absorption costing and explaining changes in operating income, financial statement users need to be aware of changes in production levels.
What is Absorption costing?Absorption costing is an accounting method used to allocate all manufacturing costs, including both variable and fixed costs, to the units produced. As a result, the cost of a unit of product under absorption costing includes not only the variable cost of manufacturing that unit, but also a portion of the fixed manufacturing costs.
When production levels change, the amount of fixed manufacturing costs allocated to each unit changes, which can impact the cost per unit and ultimately the operating income. For example, if production levels decrease, the fixed manufacturing costs will be spread over a smaller number of units, resulting in a higher cost per unit and potentially lower operating income.
Conversely, if production levels increase, the fixed manufacturing costs will be spread over a larger number of units, resulting in a lower cost per unit and potentially higher operating income.
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A large part of the Communication and Information career cluster probably didn’t exist 100 years ago—which part in particular and why? Why might this aspect of the career cluster be one of the most important today?
(THIS IS CRITICAL THINKING!!!)
Company F sells fabrics known as fat quarters, which are rectangles of fabric created by cutting a yard of fabric into four pieces. Occasionally the manufacturing process results in a fabric defect. Let the random variable X represent the number of defects on a fat quarter created by Company F. The following table shows the probability distribution of X. x 0 1 2 3 4 or more probability 0.58 0.23 0.11 0.05 0.03 If a fat quarter has more than 2 defects, it cannot be sold and is discarded. Let the random variable Y represent the number of defects on a fat quarter that can be sold by Company F. (a) Construct the probability distribution of the random variable Y. (b) Determine the mean and standard deviation of Y. Show your work. Company G also sells fat quarters. The mean and standard deviation of the number of defects on a fat quarter that can be sold by Company G are 0.40 and 0.66, respectively. The fat quarters sell for $5.00 each but are discounted by $1.50 for each defect found. (c) What are the mean and standard deviation of the selling price for the fat quarters sold by Company G?
(a) The probability distribution of Y is as follows:
Y 0 1 2 3 4 or more
Probability 0.58 0.23 0.11 0.05 0.03
(b) The mean of Y is 0.37 and the standard deviation is 0.58. This can be calculated using the formula:
Mean = Σ (x * P(x)) = 0 + 0.23 + 0.11 + 0.05 + 0 = 0.37
Standard Deviation = √Σ [(x - μ)2 * P(x)] = √[(0 - 0.37)2 * 0.58 + (1 - 0.37)2 * 0.23 + (2 - 0.37)2 * 0.11 + (3 - 0.37)2 * 0.05 + (4 - 0.37)2 * 0.03] = 0.58
(c) The mean and standard deviation of the selling price for the fat quarters sold by Company G are $3.50 and $0.66 respectively. This can be calculated by subtracting $1
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Duties, taxes, or customs imposed by the host country for imported or exported goods, are known as Tariffs. A) True B)
Tariffs are the taxes, duties, or customs that are imposed on the imported and exported goods by the host country. This makes the imported goods more expensive than the domestic ones, thus discouraging their purchase.What is a tariff?A tariff is a tax imposed on goods or services being imported from another country. Tariffs have been imposed throughout history in a number of ways. They are often used by governments to protect domestic industries or raise revenue.There are several types of tariffs. Some are specific, meaning they are based on the quantity of goods imported, while others are ad valorem, meaning they are based on the value of the goods. Additionally, some tariffs are applied to specific types of goods or to goods from specific countries.Tariffs can have a significant impact on international trade, affecting both importers and exporters. When a tariff is applied to an imported good, it raises the price of that good, making it more expensive for consumers to purchase. This can make it more difficult for foreign companies to sell their goods in the host country, reducing competition and allowing domestic companies to charge higher prices. As a result, tariffs can have the effect of reducing trade between countries and protecting domestic industries.
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if a firm in an oligopoly worries that by holding down its output, it may be taken advantage of by other firms who will raise their output(s) and achieve higher profits, the firm is said to be facing
If a firm in an oligopoly market structure worries that holding down its output may lead to higher output and profits for other firms, it is said to be facing a prisoner's dilemma.
This situation arises because each firm has an incentive to act in its own self-interest, which often leads to a suboptimal outcome for all firms in the market. In the case of the oligopoly, if one firm increases its output, it may attract more customers and gain a larger market share, but this may also encourage other firms to follow suit and lead to a downward spiral of price competition and lower profits for all firms.
Therefore, firms in an oligopoly must carefully consider the potential benefits and risks of their actions and try to coordinate their behavior to achieve a more mutually beneficial outcome.
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suppose an economy is initially in a steady state with capital per worker below the golden rule level. if the saving rate increases to a rate consistent with the golden rule, then in the transition to the new steady state consumption per worker will:
In the transition to the new steady state, consumption per worker will increase.
When the saving rate increases to a rate consistent with the golden rule, firms are able to hire more workers and increase their production capabilities. As a result, the economy produces more capital per worker and the steady state shifts to one that is consistent with the golden rule.
This increased production leads to an increase in the average amount of consumption per worker, as more workers are employed and wages increase. This increase in consumption per worker is the result of the increased investment in capital that is facilitated by the higher saving rate.
The increased investment in capital, in turn, boosts the economy’s production capabilities and, ultimately, its level of consumption per worker.
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how does a business use marginal analysis to decide how many workers to employ?
A business may look at the marginal product schedule in order to use marginal analysis in deciding how many workers are to be considered under employment.
A marginal analysis can be referred to or taken into general sense of understanding as an analysis wherein the factors of implementing an additional unit into work and its output is examined to represent the achievement of economic rationale. When businesses look at the marginal schedule, they are able to analyze the situation of employing the total number of workers.
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The strongest way to start a formal business document is with a .A. Question to answerB. Bottom-line statementC. Purpose statementD. List of criteria
The strongest way to start a formal business document is with a Purpose statement.
Starting a formal business document with a purpose statement is a strong way to establish the objective of the document and provide the reader with a clear understanding of what to expect. The purpose statement can help set the tone and direction for the rest of the document, providing a framework for the information that will follow. By starting with a purpose statement, the writer can also ensure that the document remains focused and on-topic. While other approaches such as questions, bottom-line statements, or lists of criteria can also be effective in certain contexts, a purpose statement is generally considered the strongest way to start a formal business document.
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Answer:
Bottom-line statement
Explanation:
the efficiency factor involves both productive and allocative efficiency, which means in order to reach its full production potential an economy must . multiple choice question. a. use the most resources to get the most goods and services for the most people b. use its resources to maximize profits at any cost c. use its resources in the most costly way to produce the specific mix of goods that maximizes people's well-being d. use its resources in the least costly way to produce the specific mix of goods that maximizes people's well-being
The efficiency factor involves both productive and allocative efficiency, which means in order to reach its full production potential an economy must use its resources in the least costly way to produce the specific mix of goods that maximizes people's well-being.
What is the efficiency factor? In economics, the efficiency factor refers to the production of as much output as possible using the least amount of input. An economy's productive efficiency is the ability to create as much output as possible with the resources available. Allocative efficiency refers to an economy's ability to create the optimal allocation of goods and services that maximizes people's well-being. In other words, it refers to how well an economy allocates its scarce resources to produce the optimal mix of goods and services to satisfy consumer preferences. In order to reach its full production potential, an economy must use its resources in the least costly way to produce the specific mix of goods that maximizes people's well-being. Therefore, the answer is option D, which means an economy must use its resources in the least costly way to produce the specific mix of goods that maximizes people's well-being.
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which of the following statements regarding standardization is true?
i. all products made to a given specification will be interchangeable.
ii. a range of standard specifications can be established so that the range covers the majority of uses for the item.
iii. standardization results in a larger variety of parts. group of answer choices a. i and ii are true b. ii and iii are true c. i and iii are true d. i, ii and iii are true e. none of the above is true
Option A: i and ii are true are true regarding standardization, i.e.(i). All products made to a given specification will be interchangeable. (ii). A range of standard specifications can be established so that the range covers the majority of uses for the item.
Standardization refers to the process of implementing, defining, and establishing a standard. It leads to uniformity in the products which in turn, lead to interchangeability or the ability to replace one product with another.Thus, it can be said that all products made to a given specification will be interchangeable.In addition to this, a range of standard specifications can be established so that the range covers the majority of uses for the item. This is true as different uses of a product require different specifications to be followed so that the item can be utilized as per the intended use.
However, statement iii is incorrect as standardization does not result in a larger variety of parts. In fact, it reduces the variety of parts and leads to interchangeability. Hence, the correct option is A.
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Washington, Inc. produces two different products (Product C and Product 2) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $750,000, while the cost of Inspection is $90,000. The activity drivers are used as follows: Product C Product 2 Total Machine hours 1,000 3,000 4,000 Number of batches 45 15 60 What is the activity rate for Inspection? $2.000 per batch O $45,000 per batch O $1,500 per batch O $6.000 per batch Question 9 Which of the following is true about product and period costs? Both product and period costs are usually nonmanufacturing costs. O Product costs are usually nonmanufacturing costs, and period costs are usually manufacturing costs. O Product costs are usually manufacturing costs, and period costs are usually nonmanufacturing costs. O Both product and period costs are usually manufacturing costs.
The following is true about the product and period costs -Product costs are usually manufacturing costs, and period costs are usually nonmanufacturing costs.
Differentiate between Product costs & Period costs?
Product costs refer to those expenses incurred by businesses that are directly related to the production of goods. The two primary categories of product costs are direct labor and direct materials. Period costs, often known as non-manufacturing expenses, are expenses that are incurred during a specified time period in which no direct expenses have been incurred. Selling and administrative expenditures are examples of period expenses because they are incurred to manage and promote a company's products or services, rather than to produce them.
Washington, Inc. produces two different products (Product C and Product 2) using two different activities: Machining and Inspection. The cost of Machining is $750,000, while the cost of Inspection is $90,000. The activity drivers are used as follows: Product C & Product 2 Total Machine hours 1,0003,0004,000, Number of batches 45 15 60. For the inspection activity rate, we have Total Inspection Cost/Total number of Batches =$90,000/60 = $1,500 per batch. Thus, the answer is $1,500 per batch.
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