The marginal revenue associated with the sale of the second unit is $8. the marginal revenue associated with the sale of the second unit.
what is marginal ?
Marginal refers to the additional benefit or cost of a one-unit change in the production or consumption of a good or service. It is used to measure the impact of a small change in an economic activity, such as the effect of a new employee on the productivity of a business or the impact of a new tax on consumer spending. Marginal analysis is used to identify the most efficient use of resources and to understand the potential gains from making a small change.
Marginal cost and marginal benefit are two important concepts in economics that are used to evaluate the value of a particular decision. Marginal cost is the cost of producing one additional unit of a good or service and marginal benefit is the benefit of consuming one additional unit.
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A country reported a nominal GDP of $100 billion in 2012 and $75 billion in 2011 and reported a GDP deflator of 125 in 2012 and 120 in 2011. What happened to real output and prices from 2011 to 2012?
a. Real output and prices both rose.
b. Real output rose and prices fell.
c. Real output fell and prices rose.
d. Real output and prices both fell.
A country reported a nominal GDP of $100 billion in 2012 and $75 billion in 2011 and reported a GDP deflator of 125 in 2012 and 120 in 2011. -b. Real output rose and prices fell.
To calculate real GDP, we need to use the GDP deflator to adjust for inflation. The GDP deflator is a measure of the level of prices of all the goods and services included in GDP.
Real GDP in 2012 = (Nominal GDP in 2012) / (GDP deflator in 2012) = 100 / 125 = 0.8
Real GDP in 2011 = (Nominal GDP in 2011) / (GDP deflator in 2011) = 75 / 120 = 0.625
So Real GDP has increased from 2011 to 2012.
Also, we can calculate the inflation rate (Price level) using the GDP deflator.
Inflation rate = (GDP deflator in 2012 - GDP deflator in 2011) / GDP deflator in 2011
= (125 - 120) / 120 = 0.0417
So, prices have fallen from 2011 to 2012
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there are three main types of research designs employed in marketing research: exploratory, descriptive, and conclusive.
Exploratory, descriptive, and conclusive research designs are the three basic types used in marketing research.
Market research: What is it?Consumer behaviour and economic trends are combined in marketing research to support and enhance your business concept. Understanding your customer base from the start is essential. Even when your company is still only a vision in your mind, market research allows you to lower risks.
Market research is a systematic attempt to learn as much as possible about target markets and consumers, starting with who they are. It is a crucial element of corporate strategy and a key contributor to keeping competitiveness.
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the cpi will be most influenced by a 10 percent increase in the price of which of the following consumption categories?
The impact of a 10% price increase will be greatest on the IS housing cpi. As housing now accounts for a higher percentage of household budgets than it once did, it has gained prominence.
This has a greater impact on the CPI a 10% raise in the price of caviar or chicken Why?The 10% increase in chicken prices will have a greater impact on the CPI. This is true because, as a percent of the population, more people consume chicken than caviar. Products that are consumed by a greater percentage of people get given more weight in the CPI calculation.
What are the CPI's four applications?Products linked to food, clothes, transportation, housing, electronics, apparel, education, medical, and other areas are included in the basket of goods. A country's population's cost of living and changes in the disposable income of its currency can both be determined using the CPI.
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according to the ncrepc what happens if the buyer and seller can't agree on how to resolve an objection of the buyer
The story "The Unpleasant Profession of Jonathan Hoag" has a sour ending. Due to an extreme enthusiasm for life, with fear and hope set free.
Ted wakes up to see Cynthia appearing to be in a coma. Realizing that the dreams were true, he paints over every mirror in the residence. Portbury, the only doctor he knows, is summoned right away to see Cynthia. Ted hides his face incessantly, as the Sons of the Bird did, when he repeats to Portbury the slogan of the Sons of the Bird, "The Bird is Cruel!" Her diagnosis from Portbury is lethargica gravis. Portbury gets imprisoned in the bathroom by Ted after realizing he is one of them. Hoag picks up the phone and drives to the house. When told about Portbury, Hoag asserts that lethargica gravis is just another term for "deep sleep."
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strategic business units which have no clear strategy and do not have as consistent a product-market orientation as its competitors, are referred to as in the miles and snow typology.
It allows a manager to formulate and implement internally consistent and coherent business strategies.
What is a strategic business unit?A strategic business unit, or SBU for short, is a fully operational part of an organisation with its own mission and goals. An key section of the organisation, a strategic business unit typically functions independently. It provides updates on its operational status to the headquarters.
Although a strategic business unit, or SBU, is an independent company, it is required to report directly to the organization's headquarters on the status of its operations. It is independent and centred on a particular market. It is large enough to have independent support divisions for things like human resources and training.
Having an SBU has a number of advantages. For businesses with a variety of product structures, this strategy is most effective.
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On November 1 of the current year, Rob Elliot invested $30,000 of his cash to form a corporation, GGE Enterprises Inc., in exchange for shares of common stock. No other common stock was issued during November or December. After a very successful first month of operations, the retained earnings as of November 30 were reported at $5,000. After all transactions have been entered into the accounting equation for the month of December, the ending balances for selected items on December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $56,650 and total stockholders' equity of $36,205.
Review the following questions. Indicate which financial statement(s) report the desired information. Enter the amount reported on the financial statement.
(Select "Yes" or "No" from the below dropdowns.)
GGE Enterprises Inc.
1a. The amount reported for total liabilities is:
= $17,650
1b. The amount reported for stockholders' equity is:
= $38,000
2. Retained earnings reported on December 31 is:
= $8,000
3. Total amount that GGE Enterprises owes to its creditors is:
= $17,650
4. The cash being held by GGE Enterprises Inc. is:
= $30,550
5. The retained earnings increased by $3,000 during the period.
6. The amount of profit during December is:
= $8,750
7. The total expenses for December is:
= $18,000
8. The amount paid for rent was:
= $5,225
What types of liabilities are there?Liabilities are any outstanding debts owed by your business, including bank loans, mortgages, unpaid bills, IOUs, and other sums of money. A liability exists if you haven't paid someone who you committed to pay a certain amount of money to in the future.
A car—is it a liability or an asset?Your car is a depreciating asset in accounting speak. As a result, you might be able to sell your car right now because it is valuable. However, that value often decreases over time while you possess the car.
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Which theory listed below assumes that learning takes place as the result of response to external event? *
O Behavioral learning
O Episodic learning
O Incidental learning
O Gestalt learning
Behavioral learning theory assumes that learning takes place as the result of response to external event.
Behaviorism is a systematic method for studying human and animal behavior. Behavior is thought to be either a reflex elicited by a combination of some prior stimulus in the environment, or as a result of the individual's history, especially reinforcement and punishment situations.
Behaviorism emerged in the early 1900s as a response to depth psychology and other traditional forms of psychology, which often had difficulty making predictions that could be tested. experimentally, but is rooted in earlier research in the late 1900s. 19th century, such as the work of tho-rny Edward.
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Having a very successful year, the real-estate holdings company manages to acquire a newproperty on July 1, 2021. The company has a fiscal year-end of July 31. The details on the buildingand land for the new property are as follows:BuildingCost basis-$40.0 million.Useful life-30 years.LandCost basis- $10.0 million.What would the accounting depreciation expense be for the fiscal year ended July 31, 2021?$111-thousand.$1.67 million.$30.0 million$1,33 milion.
The accounting depreciation expense be for fiscal year ended July 31 would be $30 million.
What is a fiscal year?Businesses and governments utilize a fiscal year, which is a 12-month period, for financial reporting and budgeting. The accounting period that is most usually utilized to generate financial statements is a fiscal year. Not all fiscal years coincide with the calendar year, despite the fact that they can begin on January 1 and end on December 31. A fiscal year is a time period that lasts for a full year but does not always begin on January 1. Corporations and their investors must be aware of the company's fiscal year in order to accurately compare sales and earnings from year to year. The Internal Revenue Service (IRS) accepts tax returns from businesses for both the fiscal year and the calendar year.
Accounting depreciation= $40million-$10million= $30 million
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the following information is available for adt company, which produces special-order security products and uses a job order costing system. overhead is applied using a predetermined overhead rate of 55% of direct labor cost.
The predetermined overhead rate was 0.2304 or 23.04%, considering the direct labor and overhead applied.
What is direct labor cost?Salary and wages paid to workers that can be directly attributed to specific products or services are referred to as direct labour. It covers the cost of regular working hours, overtime hours, payroll taxes, unemployment tax, Medicare, and employment insurance.
Wages paid in order to produce goods or provide services to customers are referred to as direct labour costs. The total direct labour cost is much higher than the wages paid. It also includes payroll taxes on those wages, as well as the cost of company-provided medical insurance, life insurance, workers' compensation insurance, any company-matched pension contributions, and other company benefits.
The salaries and wages paid to workers directly involved in the manufacture of a specific product or the performance of a service are referred to as direct labour.
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Riley does not follow up with others in the organization partly because of her ego. Trayvon, on the other hand, does not follow up because he has negative thoughts of how they would perceive him. Based on this Information, Riley probably has_ while Trayvon probably has Multiple Choice high self-esteem; low self-esteem low self-esteem; high self-esteem low self-efficacy, high self-efficacy low emotional stability; high emotional stability high self-esteem; low self-esteem low self-esteem; high self-esteem low self-efficacy, high self-efficacy low emotional stability, high emotional stability low self-efficacy; high emotional stability
Riley most likely has a high sense of self esteem. while Trayvon likely suffers from low self-esteem. are the correct choices
An assertive personality is what?
is a quality of someone who "makes environmental change and is comparatively unfettered by situational factors."
People that are proactive look for possibilities, seize them, and take action. They persist until significant change is achieved.
Core self-evaluations' internal locus of control reveals a person's conviction that he is in charge of life's occurrences and outcomes.
The self-esteem you might have has four elements that make it up: identity, self-assurance, sense of belonging, and competence
excessive self-esteem: Sense of superiority. Overly confident people frequently exhibit arrogance, self-indulgence, and a sense of entitlement. While criticizing others, they frequently ignore their own shortcomings. feeling inferior to others because of low self-esteem.
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when the contract rate of the bonds is higher than the market rate, the bond sells at a higher price than par value. the amount by which the bond price exceeds par value is the on bonds. multiple choice question.
When the contract rate of the bonds is higher than the market rate, the bond is said to be selling at a premium.
This is because investors are willing to pay more than the par value of the bond to earn the higher interest rate. The amount by which the bond price exceeds par value is known as the premium on bonds.
The premium on bonds is the sum total of the difference between the market rate on the bond and the contract rate, plus any additional features or benefits that the bond may offer. The premium is expressed as a percentage of the par value of the bond and is added to the par value in order to calculate the bond’s market price.
The premium on bonds is generally paid by the issuer of the bond and is included in the calculation of the yield to maturity.
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question 2 when implemented, which of the following strategies would provide information about customer behaviors that could lead to an effective launch of a new product?
Performance marketing when implemented, would provide information about customer behaviors that could lead to an effective launch of a new product.
The term "performance marketing" refers to internet campaign in which companies pay marketing firms or ad networks based on the outcomes, such as views or conversions. Performance marketing is used expressly to drive activities, monitor and evaluate those activities, all while crediting the Return of each asset, campaign, or activity, in contrast to traditional and organic marketing. Professionals in performance marketing, whether they work for agencies, media businesses, publishers, or elsewhere, mainly rely on paid advertising channels like: Native ad placement, Sponsored content, Affiliate promotion, Social media promotion, Internet advertising. The finest outcomes for the business can be accomplished by optimizing your advertising agency and using marketing performance measurement. Additionally, one of the first decisions a marketing department should make before beginning marketing operations is how to analyze marketing success.
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Smokey Company purchases a one-year insurance policy on July 1 for $3,600. The adjusting entry on December 31 is a. debit Insurance Expense, $1,500; credit Prepaid Insurance, $1,500 Ob. debit Insurance Expense, $2,100; credit Prepaid Insurance, $2,100 c. debit Prepaid Insurance, $1,800; credit Cash, $1,800 Od. debit Insurance Expense, $1,800; credit Prepaid Insurance, $1,800
The correct option is D, i.e., debit Insurance Expense, $1,800; Prepaid credit Insurance, $1,800. The entries that are needed to be passed at the end of the accounting period, after the first trial is prepared, is called the conforming entries.
The matching principle of account countries that all charges and earnings are to be shown in the accounting period irrespective of the factual sum entered or paid. The reimbursed charges and unearned income are acclimated at the end of the accounting period.
It's common to pay for goods and services in advance. Insurance is generally bought by compensating for a periodic or semi-annual policy. Or, rent on a structure may be paid ahead of its intended use(e.g., landlords bear yearly rent to be paid on the morning of each month). Another illustration of prepaid expenditure relates to inventories bought and stored before actually demanding them.
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a resident of one state, when in another state, can be denied the privileges and immunities of that state for any reason.
It is untrue that a resident of one state can't be denied the rights and privileges of that state for any reason when they are in another state.
When a resident of one state travels to another state, they may not be granted that state's privileges and immunities for any reason. Any legal ruling concerning contract rights made in one state shall be respected and upheld throughout other states under the full faith and credit clause.
Each State shall accord the public acts, records, and judicial proceedings of every other State full faith and credit. And the Congress may specify by general laws how such acts, records, and proceedings shall be proved as well as their consequences.
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Yang invests $30,000 cash and equipment worth $50,000 into a partnership. The journal entry to record this transaction will include a credit to the F. Yang, ___________________account in the amount of $80,000.
The "Capital, F. Yang" account will receive a credit of $80,000 in the journal entry that documents this transaction.
Yang's capital balance rises when she contributes money and equipment to a partnership, as does her own capital balance.
A debit of $30,000 and $50,000, respectively, would be made to the "Cash" and "Equipment" accounts in the journal entry to document this transaction. furthermore an $80,00 credit to the "Capital, F. Yang" account.
This is because cash and equipment are assets that increase the total assets of the partnership and the credit to the "Capital, F. Yang" account records the increase in Yang's capital balance in the partnership due to the investment.
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the marketplace is composed of businesses that ship their products directly to consumers without using wholesalers, distributors, or other middlemen that play a role in other retail channels.
The marketplace is composed of businesses that ship their products directly to consumers without using wholesalers, distributors, or other middlemen that play a role in other retail channels.
The statement is True
A marketplace is what?
An online store or platform known as a marketplace offers numerous benefits to both buyers and sellers. An online marketplace is similar to an e-commerce website or mobile application where sellers and buyers can meet and exchange goods and services. The website is in charge of managing all payments, processes, and transactions.
Definition. The marketplace is defined by the Oxford Dictionary as "the activity of competing with other businesses to buy and sell goods, services, etc."
The owner of the online store, however, does not have an inventory of every item that he is offering. By offering customers the goods of other companies, the online store is merely facilitating the transaction. Online marketplaces like Ama-zon, e-Bay, and Aliba-ba are excellent examples.
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Settam, a nongovernmental not-for-profit organization, received a donation of stock with donor-stipulated requirements as follows:
Shares valued at $8,000,000 are to be sold with the proceeds used for renovation.
Shares valued at $2,000,000 are to be retained with the dividends used to support current operations
.What amount should Settam include as unrestricted net assets as a result of this donation?
a. $8,000,000
b. $10,000,000
c. $2,000,000
d. $0
As a result of this donation, Cetam should include an amount of 0 as unrestricted net assets. Here option D is the correct answer.
Unrestricted net assets are assets that can be used for any purpose by the organization, without any donor-imposed restrictions. In this case, the donation of stock includes specific requirements on how the shares are to be used, with $8,000,000 to be sold for renovation and $2,000,000 to be retained for supporting current operations.
Since the organization is bound to use the shares according to the donor's instruction, the shares are considered restricted assets and do not contribute to unrestricted net assets. Restricted assets are assets that have been donated to a nonprofit organization with specific requirements or restrictions on how they can be used.
These restrictions may be placed on the assets by the donor, or by laws or regulations. In the case of the donation of stock in this scenario, the donor has stipulated that $8,000,000 worth of shares are to be sold for renovation and $2,000,000 worth of shares are to be retained for supporting current operations.
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Use your knowledge of organizational change to select the word or phrase that best describes the situation. Which of the following plays a key role in transition management? Punishment for those resisting the change Communication about the changes to all involved An authoritarian approach
"Communication regarding the changes to those concerned" is a term that may be used to describe the scenario.
Organizational change, such as mergers and acquisitions, restructuring, and process modifications, is no exception.It's no surprise that many organizational reform initiatives fail. You're not only attempting to evolve your own techniques and habits, but also persuade others to do the same. Because a lack of change management abilities can make organizational projects difficult to implement, managers must learn the skills required to lead their teams through periods of transition. Given the difficulty of implementing organizational change, it is critical to evaluate the managerial abilities necessary to nurture success. Effective communication, in particular, is critical to enabling organizational transformation.
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which of the following are part of a nations underground economy? (check all that apply.) multiple select question. illegal gambling documented workers human trafficking illegal drugs unreported income
Alternative names for the underground economy incorporate the shadow economy, the bootleg market, and the casual economy. Managing unlawful medications, illegal exploitation, jeopardized species, human organs, artifacts, and taken products are instances of exercises in the underground economy.
An underground economy, or shadow economy, is where unlawful exchanges happen. It is otherwise called the casual economy, underground market, and dark economy.- A man sells unlawful medications and neglects to report his pay.
Unlawful labor and products incorporate betting, illegal conflagration, drugs, prostitution, credit sharking, theft, payoff, sexual entertainment, insurance, and coercion, and forging. The underground economy filled generally quickly in the 1960s, however, didn't develop more quickly than the revealed monetary movement in the 1970s.
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select the following answer that best indicates maximum total utility has been found in the decision made selecting goods? A.Both goods are maximized with their marginal utility.B.Both goods have the same marginal utility.C.Trade-offs control the marginal utility per dollar.D.Both goods have the same marginal utility per dollar.
The decision to choose the commodities, even when both of them have the same marginal utility, shows that the maximum total utility has been found.
What is marginal utility? Give a case.A consumer's delight from each additional unit of consumption is known as marginal utility. Beyond the initial product eaten, it calculates the utility. The marginal utility is the benefit derived from the additional bottle of water if you purchase one bottle first and then another.
The significance of marginal utilityThis law in economics aids in comprehending how customers might come to an equilibrium for a specific good. The majority of the time, a consumer can utilize a good or service until the marginal utility equals the asking price, ensuring that they are as satisfied as possible.
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which of the following are uses of cash? (check all that apply.) multiple select question. decreases in accounts payable decreases in accounts receivable decreases in property, plant and equipment increases in property, plant and equipment increases in inventory
Cash is essential for the involvement of socially vulnerable populations, such as the elderly or lower-income groups, because it offers payment and savings choices for those with little or no access to digital money.
What does the term "limited" mean?
Something that is limited has a little quantity, scope, or degree. They might only have a short window of time to make their case. Synonyms: limited, managed, set, and defined additional words for restricted
If they were to visit the contested property, they had a finite amount of time. His use of magic is also restricted in the world of mortals. He must be aware that you can only watch events unfold.
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A(n) __________ clause is a provision in a contract mandating that all disputes be settled by a binding decision.
An Arbitration clause is a provision in a contract mandating that all disputes be settled by a binding decision.
A private hearing called mandatory binding arbitration is used to resolve disputes between two parties. A contract's parties agree to have a neutral third party, known as an arbitrator, hear their dispute and to abide by the arbitrator's ruling.
The agreement between investors and states that particular issues shall be resolved by arbitration is based on an arbitration clause. The arbitral tribunal's jurisdiction is established by this consent. See also Arbitral tribunal jurisdiction. The number of arbitrators who will serve on an arbitral tribunal may be stated by the parties in their arbitration clause; often, one or three members are mentioned.
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which of the following is the minimum required educational qualification for those seeking certified corrections executive (cce) certification?
A high school diploma or its equivalent is the bare minimum educational requirement for persons seeking certified corrections executive (CCE) accreditation.
An impartial entity certifies a product, service, or system by issuing a written statement (a certificate) stating that it complies with certain requirements. It is the official attestation or affirmation of particular qualities of a thing, someone, or a group. Often, but not always, some kind of external evaluation, instruction, assessment, or audit offers this validation.
A certificate, diploma, or degree that attests to the successful completion of a course of study or a particular stage of a course is referred to as having educational qualifications.
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If Tim Hortons opted to let a local Chinese company operate coffee shops using the Tim Hortons business system, rather than owning and operating the stores itself, it would be pursuing which market entry strategy?Choose matching definition
1. Franchising
2. overcoming political tension between governments
3. localization
4. Political stability and compatibility
If Tim Hortons opted to let a local Chinese company operate coffee shops using the Tim Hortons business system, rather than owning and operating the stores itself, it would be pursuing localization to enter in the market.
What differentiating tactics does Tim Hortons employ?Instead of focusing mostly on burgers, Tim Hortons sets themselves apart by placing more of an emphasis on traditional and healthier home-cooked cuisine. Consumers are becoming more concerned with prospective food risks as well as maintaining or improving their current well-being (Agriculture and Agri-food Canada, 2010).
Why did Tim Hortons expand into China?The CEO of Tims China, Yongchen Lu, said that this opening is an example of how the company is expanding farther into China to provide more customers with excellent coffee experiences. In order to reach more Chinese consumers, Tims China is aiming for outlet growth along with a larger presence inside of retail spaces.
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omparing the range and the mean indicates how significant the dispersion is. however, the range does not measure the dispersion of the majority of the observations; it focuses only on the highest and lowest values. therefore, it is very sensitive to outliers.
However, the range does not measure the dispersion of the majority of the observations; it focuses only on the highest and lowest values.
What is measure the dispersion?
Dispersion is the state of getting dispersed or spread. Statistical dispersion means the extent to which numerical data is likely to vary about an average value. In other words, dispersion helps to understand the distribution of the data. The measures of central tendency are not adequate to describe data. Two data sets can have the same mean but they can be entirely different. Thus to describe data, one needs to know the extent of variability. This is given by the measures of dispersion.
Range, interquartile range, and standard deviation are the three commonly used measures of dispersion.
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Measures of dispersion Aa Aa Suppose two stocks have the same mean expected return (10%). However, one stock always has a 10% return, while the other stock is very unpredictable. Which one would you want? Probably the first one, right? This section defines some basic measures of dispersion, alsa known as spread or variability, and how they help interpret data. Range The simplest measure of dispersion is range, which is defined as the span of values that variable takes. You can find the range by determining the difference between the maximum and minimum values, as follows: Range Maximum Value - Minimum Value The range is useful because it is easy to calculate and even easier to understand. Comparing the range and the mean indicates how significant the dispersion is. However, the range does not measure the dispersion of the majority of the observations; it focuses only on the highest and lowest values. Therefore, it is very sensitive to outliers. Consider the following two 10-item data sets: Data Set A Data Set B 12, 12, 12, 13, 13, 14, 22, 23, 23, 24 124, 126, 127, 129, 129, 130, 132, 132, 133, 136 Both data sets have a values at either end of the range, while Data Set B is more evenly dispersed. Also, a range of 12 is far more significant for Data Set A, whose mean is 16.8, than for Data Set B, whose mean is 129.8, but they certainly are not dispersed the same. Data Set A has clusters of range of Quartiles The range shows the minimum and maximum values, and the median shows the middle value. If you combine the range and the median, the picture of a variable's distribution starts to come into focus. This process can be taken a step further by calculating quartiles and platting the data. Quartiles divide the number of abservations into four equal quarters, as shown here. Minimum Median Maximum quartilequartile 3dquartile quartile Consider this data set: 87 120 B7 84 83 105 80 89 107 107 99 99 84 83 82 79 94 76 86 87 If put in order and split into quartiles, the data set becomes 76 79 80 82 83 87 98 120 84 89 107 94 105 107 1st quartile 2nd quartile (median) 3rd quartile 75 85 9D 95 100 105 110 115 The minimum, 1st quartile, median, 3rd quartile, and maximum are shown in the graph above. This drawing is called and it shows the data to be considerably skewed to the right.
However, the range does not measure the dispersion of majority of the observations; it focuses only on the highest and lowest values.
What is measure the dispersion?Dispersion is the process of becoming dispersed or spread. The degree to which numerical data is likely to deviate from an average value is referred to as statistical dispersion. In other words, dispersion aids in comprehension of the data's distribution. The measures of central tendency are inadequate to describe the data.
The means of two data sets can be the same while still being completely different. Therefore, one needs to be aware of the level of variability in order to describe data. The dispersion measurements provide this information.
The three most widely used measures of dispersion are range, interquartile range, and standard deviation.
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Measures of dispersion Aa Aa Suppose two stocks have the same mean expected return (10%). However, one stock always has a 10% return, while the other stock is very unpredictable. Which one would you want? Probably the first one, right? This section defines some basic measures of dispersion, alsa known as spread or variability, and how they help interpret data. Range The simplest measure of dispersion is range, which is defined as the span of values that variable takes. You can find the range by determining the difference between the maximum and minimum values, as follows: Range Maximum Value - Minimum Value The range is useful because it is easy to calculate and even easier to understand. Comparing the range and the mean indicates how significant the dispersion is. However, the range does not measure the dispersion of the majority of the observations; it focuses only on the highest and lowest values. Therefore, it is very sensitive to outliers. Consider the following two 10-item data sets: Data Set A Data Set B 12, 12, 12, 13, 13, 14, 22, 23, 23, 24 124, 126, 127, 129, 129, 130, 132, 132, 133, 136 Both data sets have a values at either end of the range, while Data Set B is more evenly dispersed. Also, a range of 12 is far more significant for Data Set A, whose mean is 16.8, than for Data Set B, whose mean is 129.8, but they certainly are not dispersed the same. Data Set A has clusters of range of Quartiles The range shows the minimum and maximum values, and the median shows the middle value. If you combine the range and the median, the picture of a variable's distribution starts to come into focus. This process can be taken a step further by calculating quartiles and platting the data. Quartiles divide the number of abservations into four equal quarters, as shown here. Minimum Median Maximum quartilequartile 3dquartile quartile Consider this data set: 87 120 B7 84 83 105 80 89 107 107 99 99 84 83 82 79 94 76 86 87 If put in order and split into quartiles, the data set becomes 76 79 80 82 83 87 98 120 84 89 107 94 105 107 1st quartile 2nd quartile (median) 3rd quartile 75 85 9D 95 100 105 110 115 The minimum, 1st quartile, median, 3rd quartile, and maximum are shown in the graph above. This drawing is called and it shows the data to be considerably skewed to the right.
FILL IN THE BLANK The Financial Accounting Board (FASB) _________________ reorganized divergent sources of US generally accepted accounting principles (GAAP) in a more accessible and researchable format.
Codification unified disparate sources of US generally accepted standards (GAAP) into a more visible and researchable style.
The Financial Accounting Regulations Board created a collection of accounting rules, standards, and processes known as generally accepted accounting principles (GAAP) (FASB). When their accountants prepare their financial accounts for public firms in the United States, they must adhere to GAAP.GAAP is a rules-based system of standards driven by 10 main ideas. It is frequently contrasted with the Financial Reporting Standards (IFRS), which is seen as a more principles-based standard. IFRS is a more worldwide standard, and there have been recent initiatives to shift GAAP reporting to IFRS. GAAP is a collection of authoritative rules and universally recognized methods of documenting and reporting accounting information. GAAP seeks to enhance the clarity, uniformity, and comparability of financial information communication.
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In a process cost system, A) a materials requisition must identify the job on which the materials will be used. B) a Work in Process account is maintained for each process or department. a Work in Process account is maintained for each product. C) D) one Work in Process account is maintained for all the processes, similar to a job order cost system. 2. Which of the following manufacturing cost elements occurs in a process cost system? A) Direct labor. B) Manufacturing overhead. C) Direct materials. D) All of these.
Answer: A) direct labor
Explanation:
Economic Activity Practice
Calculate GDP: Gov't spend= $1.5B, Investment=$2.5B, Consumption=$3.2B Net Exports=$-0.5B
2. Calculate CPI: 2022 basket goods $850, 2023 basket goods $880
3. Calculate unemployment rate: 100,000 employed, 1,000 unemployed, 5,000 who have given up looking for jobs.
4. Using 3 what is the Labor force size?
5. What is Real GDP?
Using number a calculate inflation rate. New CPI is 2023.
1. Gross Domestic Product (GDP) can be calculated using the formula:
GDP = government spending + investment + consumption + net exports
In this case, GDP = $1.5B + $2.5B + $3.2B + ($-0.5B) = $6.7B
2. Consumer Price Index (CPI) is used to measure the change in the cost of a basket of goods over time. To calculate the inflation rate, we can use the formula:
Inflation rate = (CPI2023 - CPI2022) / CPI2022 * 100%
In this case, inflation rate = ($880 - $850) / $850 * 100% = 3.5%
3. Unemployment rate can be calculated using the formula:
Unemployment rate = number of unemployed / labor force * 100%
where labor force is defined as the number of employed plus the number of unemployed.
In this case, labor force = 100,000 + 1,000 + 5,000 = 106,000
Unemployment rate = 1,000 / 106,000 * 100% = 9.4%
4. The labor force size is 106,000.
What is Real GDP?Real GDP is the value of GDP adjusted for inflation. It represents the production of goods and services at constant prices, i.e., in terms of the prices of a base year. To calculate real GDP, we need to adjust nominal GDP for the effects of inflation.
In this case, assuming the inflation rate calculated above, the real GDP can be calculated by adjusting the nominal GDP.
To calculate the inflation rate, we can use the formula:
Inflation rate = (CPI2023 - CPI2022) / CPI2022 * 100%
In this case, inflation rate = ($880 - $850) / $850 * 100% = 3.5%
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Which financial statement reports revenues and expenses?
a. Statement of cash flows
b. Income statement
c. Statement of stockholders' equity
d. Balance sheet
Income statement is a financial statement reports revenues and expenses.
What does the income statement contain?The sales, costs, and a company's profitability are displayed on an income statement over a particular period of time. A profit-and-loss (P&L) or earnings statement is another term for it. Your sales revenue from goods or services is represented. to cover the costs of running your firm and making profits.
How significant are income statements?An income statement serves the function of outlining a company's financial performance over a specific time frame. It narrates a company's operations' financial tale. All accounts for revenue and expenses for a specific time period are included in an income statement.
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A condition (productCost > 5) is used in an if statement. Which of the following values of productCost will result in this condition being evaluated as true?
a. 4
b. 5
c. 5.1 d. none of the above
The condition productCost > 5 is true when the value of productCost is greater than 5. Options a and b are not greater than 5, so the condition is evaluated as false. Option c is greater than 5, so the condition is evaluated as true.
The condition productCost > 5 is true when the value of productCost is greater than 5, so any value greater than 5 will result in the condition being evaluated as true. This includes values such as 5.1, 6, 10, and 100.
The condition productCost > 5 is true when the value of productCost is greater than 5. Options a and b are not greater than 5, so the condition is evaluated as false. Option c is greater than 5, so the condition is evaluated as true.
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