Answer:
I Be measurable in monetary term
III Meet the definition of an element of the financial statements
Explanation:
Financial Statements can be regarded as reports which provide the detail of the financial information entry, these includes assets, incomes, liabilities,as well as equities, and sone information which are during the period of time.
Therefore, for an item to be able to qualify for recognition in a particular financial statements,
the definition of an element of financial statements must be met hich are;
1) measurable
2) be relevant to the particular users
3) information must be verifiable
It should be noted that Under accounting principles generally accepted in the United States, in order for an item to qualify for recognition in the financial statements of a company, the item must be;I )Be measurable in monetary term
III)Meet the definition of an element of the financial statements
The following information relates to the Stockton Company:Paid note payable$ 150Bought equipment260Depreciation expense500Net income6,000Paid dividends500Issued bonds payable1,100Issued common stock900Sold land2,400What is the net cash provided by financing activities
Answer:
$1,350
Explanation:
Financing Activities are those activities that involve raising capital or debt as well as repayment to holders of such instruments.
Cash flow from financing activities :
Paid note payable ($150)
Paid dividends ($500)
Issued bonds payable $1,100
Issued common stock $900
Net cash provided by financing activities $1,350
therefore,
the net cash provided by financing activities is $1,350
Aurous Incorporated planned to use $35 of material per unit but actually used $34 of material per unit, and planned to make 1,500 units but actually made 1,300 units. The sales-volume variance for materials is ________.
Answer:
45,500
Explanation:
1,300 unites multiplied bye 35 unites is 45,500 (hope this helps)
The sales-volume variance for materials is 7,000, favorable.
What is a sales-volume variance?The sales volume variance is calculated by multiplying the actual and expected number of units sold by the budgeted price per unit. Sales volume variance is a metric used by professionals to evaluate their sales performance by calculating the difference between their actual and budgeted sales volume.
The formula for calculating sales volume variance is:-
Sales-volume variance for materials = (Budgeted quantity- Actual quantity) × Standard Price
Budgeted quantity = 1,500 units
Actual quantity = 1,300 units
Standard price = $35
Sales-volume variance for materials = (1,500-1,300) ×$35
Sales-volume variance for materials = 7,000 favorable.
Therefore, the sales-volume variance for materials is 7,000 favorable.
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Allocating Joint Costs Using the Net Realizable Value Method
A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,300. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows:
Product Gallons Further Processing
Cost per Gallon Eventual Market
Price per Gallon
L-Ten 3,200 $0.70 $2.10
Triol 3,700 1.10 5.40
Pioze 2,000 1.50 6.20
Required:
1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar.
Joint Cost
Grades Allocation
L-Ten $
Triol
Pioze
Total $
2. What if it cost $2.10 to process each gallon of Triol beyond the split-off point? How would that affect the allocation of joint cost to the three products? Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar.
Joint Cost
Grades Allocation
L-Ten $
Triol
Pioze
Total $
Answer:
Allocating Joint Costs Using the Net Realizable Value Method
1. Joint Cost
Grades Allocation
L-Ten $1,850
Triol 6,569
Pioze 3,881
Total $12,300
2. Joint Cost
Grades Allocation
L-Ten $2,112
Triol 5,756
Pioze 4,432
Total $12,300
Explanation:
a) Data and Calculations:
Cost of each production run = $12,300
Product Gallons Further Processing Eventual Market Net Realizable
Cost per Gallon Price per Gallon Value
L-Ten 3,200 $0.70 $2.10 $4,480
Triol 3,700 1.10 5.40 15,910
Pioze 2,000 1.50 6.20 9,400
Total 8,900 $29,790
Allocation of join cost:
L-Ten = $4,480/$29,790 * $12,300 = $1,850
Triol = $15,910/$29,790 * $12,300 = $6,569
Pioze = $9,400/$29,790 * $12,300 = $3,881
Product Gallons Further Processing Eventual Market Net Realizable
Cost per Gallon Price per Gallon Value
L-Ten 3,200 $0.70 $2.10 $4,480
Triol 3,700 2.10 5.40 12,210
Pioze 2,000 1.50 6.20 9,400
Total 8,900 $26,090
Allocation of join cost:
L-Ten = $4,480/$26,090 * $12,300 = $2,112
Triol = $12,210/$26,090 * $12,300 = $5,756
Pioze = $9,400/$26,090 * $12,300 = $4,432
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year. Last year, Christine's explicit costs were ______, and her implicit costs were ______.
Answer:
Explicit costs - $51,000
Explicit costs are those for which a person incurs in actual spending of money. In this case, Christine had to pay $15,000 in wages, and $36,000 in rent ($3,000 x 12). These are expenses that she had to pay money for, and that had to be accounted for in the accounting books, and in the financial statements. These are in other words, explicit costs.
Implicit costs - $40,000
Implicit costs are simply the opportunity costs. An opportunity cost is the cost of the next more valuable alternative when faced with two or more options. No money is paid for this costs. The implicit costs for Christine were the $40,000 that she not receive as wages if she had continued working at a real state firm.
Given the following information, calculate the effective gross income: property: 4 office units, contract rents per unit: $2,750 per month; vacancy and collection losses: 18%; operating expenses: $41,000; capital expenditures: 11%.
Answer:
the effective gross income is $117,480
Explanation:
The computation of the effective gross income is shown below:
= Gross income - vacancy income
= ($2,750 × 4 units × $12) - ($2,750 × 12 × 4 × 11%)
= $132,000 - $14,520
= $117,480
hence, the effective gross income is $117,480
The same is to be considered and relevant
The estimated beta for RDG is 0.74. The risk free rate of return is 4 percent and the Equity Risk Premium is 5 percent. What is the required rate of return for RDG using the CAPM
Answer:
7.7%
Explanation:
Given :
Risk free rate of return = 4%
Risk premium = 5%
Estimated beta = 0.7
Using the CAPM relation :
The expected return = Risk free rate + (Risk premium * Estimated Beta)
Expected Return = 4% + (5% * 0.74)
Expected Return = 4% + 3.7%
Expected Return = 7.7%
What is the term for a statement that identifies the rights that an employer wishes to maintain for itself and often accompanies initial employment assessments
Answer:
Disclaimer
Explanation:
A disclaimer is defined as a statement the defines the rights and obligations that can be enforced by various parties in a legal relationship like the one that exists between an employer and an employee.
Some disclaimers are aimed at maintaining rights for an employer often accompanies initial employment assessments.
For example an employer can specify that it has the right to lay off staff at any point in the employment based on a set.of conditions.
20. Calculating Loan Payments You want to buy a new sports coupe for $78,500, and the finance office at the dealership has quoted you a loan with an APR of 4.9 percent for 60 months to buy the car. What will your monthly payments be
Answer:
$1,477.80
Explanation:
Calculation to determine What will your monthly payments be
First step is to calculate the Present value of annuity of 1 using this formula
Present value of annuity of 1 = (1-(1+i)^-n)/i
Where,
i= 4.9%/12 =0.00408333333
n=60
Let plug in the formula
Present value of annuity of 1=(1-(1+0.00408333333)^-60)/0.00408333333
Present value of annuity of 1=53.11957022
Now let calculate the Monthly payment using this formula
Monthly payment = Loan amount / Present value of annuity of 1
Let plug in the formula
Monthly payment= $ 78,500.00 / 53.11957022
Monthly payment= $1,477.80
Therefore your monthly payments will be $1,477.80
Monthly payments for the car loan = $1,476.72
To calculate your monthly loan payments, one can use the formula for calculating the monthly payment on an amortizing loan. The formula is:
[tex]P = (Pv * r) / (1 - (1 + r)^{-n})[/tex]
Where:
P = Monthly payment
PV = Present value (loan amount)
r = Monthly interest rate (annual interest rate divided by 12)
n = Total number of payments
Given:
Loan amount (PV) = $78,500
Annual interest rate = 4.9%
Loan term (n) = 60 months
First, calculate the monthly interest rate (r):
r = 4.9% / 100 / 12 = 0.00408
Next, substitute the values into the formula and solve for P:
[tex]P = (78,500 * 0.00408) / (1 - (1 + 0.00408)^{-60})[/tex]
[tex]P = 320.08/(1-(1.00408)^{-60}[/tex]
P = 320.08/1-0.78325
P = 320.08/0.21675
P = $1,476.72
Thus, your monthly payments for the car loan would be approximately $1,476.72.
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"Viserion, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 15 years to maturity that is quoted at 106 percent of face value. The issue makes semiannual payments and has an embedded cost of 7 percent annually. What is the company's pretax cost of debt?"
Answer:
6.37 %
Explanation:
Debt in this case is represented by Bonds. The yield to maturity of a bond is the cost of debt. Yield to maturity is the interest rate used to determine Present Value of Coupons and Principle amount.
Most bond prices are expressed per $1,000. Therefore we will use this as the Face Value.
Pretax cost of debt calculation :
FV = $1,000
PV = $1,000 x 106 % = - $1,060
PMT = ($1,000 x 7 %) ÷ 2 = $35
N = 15 x 2 = 30
P/YR = 2
I/YR = ??
Using a financial calculator, the yield to maturity of the bond and hence the pretax cost of debt (i/yr) is 6.37 %
A ______ establishes a company's financial and strategic objectives, and provides a set of guidelines for achieving the desired results. Multiple choice question. mission statement strategic inflection strategic plan strategic vision\
Answer:
strategic plan
Explanation:
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
Typically, to formulate strategies that are well aligned with the mission of an organization or business firm, some of the activities that needs to be performed includes the following;
1. Knowing your core competencies: this involves identifying your strengths such as knowledge, technology, underlying skill, experience, ability or process that enables you to perform exceptionally and provide a unique set of products or services that meets the needs of your customers.
2. Assessment of the organization's internal strengths and weaknesses: it gives an organization certain advantages, edge and disadvantages in meeting the needs of various customers by analyzing their strengths, weaknesses, opportunities and threats (SWOT).
3. Examination of the organization's external environment: this involves examining and identifying all the factors outside of an organization that affects its performance such as customers, government policies, competitors etc.
4. Analyze your competitors: organization should ensure they are always a step ahead of the their competitors in the industry.
In conclusion, a business strategy or strategic plan sets the overall direction for an organization or business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Which firm is the oligopolist? Choose one: Firm A is in retail. It is one of the largest and most popular clothing stores in the country. It also competes with many rivals and faces intense price competition. Firm B is in the auto rental business. It is not the nation’s largest rental company, but significant barriers to entry enable it to serve customers across the United States more conveniently and at a lower price than local rivals. Firm C is a restaurant in a small, isolated community. It is the only local eatery. People drive from miles away to eat there.
Answer:
Firm B is in the auto rental business. It is not the nation’s largest rental company, but significant barriers to entry enable it to serve customers across the United States more conveniently and at a lower price than local rivals.
Explanation:
For the given options we considered Firm B to be treated as the oligopolist as the firm nor its competitors would have the major impact over the market also there are entry & exit barriers from the market
So the firm B should be chosen as the oligopolist
Therefore the same should be considered and relevant
You have $25,832.81 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $210,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
Answer: 14 years
Explanation:
The question states that an individual has $25,832.81 in a brokerage account, and plan to deposit an additional $4,000 at the end of every future year until the money in the account totals $210,000 and it's expected to earn 10% annually on the account.
To know the number of years that it'll take to reach the goal, we'll solve this in Excel as:
= =NPER (10%,-4000,-25832.81, 210000).
= 14 years
Therefore, it'll take 14 years to reach the goal.
Which of the following are potential problems with using the minimum wage as a poverty-fighting tool? Choose one or more: A. Lower-income workers will earn more. B. There will be more lower-skilled workers entering the labor force looking for work and more jobs for them. C. There will be a shortage of workers in low-wage jobs. D. Employers might shift to more capital-intensive production because labor is relatively more expensive. E. Fewer low-income workers will be employed.
Answer:
D. Employers might shift to more capital-intensive production because labor is relatively more expensive.
E. Fewer low-income workers will be employed
Explanation:
Minimum wage is the lowest amount by law that an employer can pay to its employees. This can be used as a tool to fight poverty.
However when there is a minimum wage set, the cost of labour will be higher for employers.
There will be a tendency for employers to move to a more capital intensive production in order to reduce the cost of wages.
Also since low income earners are the beneficiaries of minimum wage, employers will tend to hire less of them and more of the higher earning workers.
The job or low income earners can be mechanised.
Ferrar Corporation has two major business segments-Consumer and Commercial. Data for the segment and for the company for March appear below: In addition, common fixed expenses totaled $210,000 and were allocated as follows: $122,000 to the Consumer business segment and $88,000 to the Commercial business segment. Select one: a. test b. test c. test d. test
Complete Question:
Ferrar Corporation has two major business segments: Consumer and Commercial. Data for the segments and for the company for March appear below: Sales revenues, Consumer $ 680,000 Sales revenues, Commercial $ 280,000 Variable expenses, Consumer $ 394,000 Variable expenses, Commercial $ 143,000 Traceable fixed expenses, Consumer $ 102,000 Traceable fixed expenses, Commercial $ 45,000 In addition, common fixed expenses totaled $210,000 and were allocated as follows: $122,000 to the Consumer business segment and $88,000 to the Commercial business segment. A properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is:
Answer:
Ferrar Corporation
A properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is:
= $66,000.
Explanation:
a) Data and Calculations:
Sales revenues, Consumer $ 680,000
Sales revenues, Commercial $ 280,000
Variable expenses, Consumer $ 394,000
Variable expenses, Commercial $ 143,000
Traceable fixed expenses, Consumer $ 102,000
Traceable fixed expenses, Commercial $ 45,000
In addition, common fixed expenses totaled $210,000 and were allocated as follows: $122,000 to the Consumer business segment and $88,000 to the Commercial business segment.
Segmented Income Statement for the month ended March 31
Consumer Commercial Total
Sales revenue $ 680,000 $ 280,000 $ 960,000
Variable expenses 394,000 143,000 537,000
Contribution margin $286,000 $137,000 $423,000
Traceable fixed expenses 102,000 45,000 147,000
Common fixed expenses 122,000 88,000 210,000
Total fixed expenses $224,000 $133,000 $357,000
Net income (loss) $62,000 $4,000 $66,000
A business buyer purchases toner, paper, and staples from a seller of office supplies. What form does the seller need to use to inform the buyer about the payment owed for this purchase?
A. A receipt
OB. An invoice
C. A purchase order
OD. A packing slip
I'm pretty sure it is b because invoice is a record that keeps track of orders and cost
Assume the BigMac is sold at US$5 in US and 3 Euro in Germany. Let's assume the current spot exchange rate is 1.21 US$/Euro. If we believe in th PPP theory, US$ should _____ against Euro. Group of answer choices appreciate depreciate
Answer:
depreciate
Explanation:
Right now the relative value of the dollar is too high. If we follow the purchasing power parity theory, the value of the US dollar against the euro should be:
current spot rate x (domestic price / foreign price) = ($1.21 / 1€) x ($5 / 3€) = $6.05 / 3€ = $2.0167 per €
A rectangle has length xcm and width (x-1)cm. If the perimeter is 14cm,
Find the value of x.
Answer:
x = 4 cm
Explanation:
Given that,
Length of a rectangle = x cm
Width = (x-1) cm
The perimeter of the rectangle = 14 cm
We need to find the value of x.
We know that,
Perimeter = sum of all sides
14 = 2(x+x-1)
7 = 2x-1
8 = 2x
x = 4
So, the value of x is equal to 4 cm.
If you wish to accumulate $125,000 in 7 years, how much must you deposit today in an account that pays a quoted annual interest rate of 11% with quarterly compounding of interest
Answer:
You need to deposit $58,481.53 today.
Explanation:
a) Data and Calculations:
Future value expected = $125,000
Period of investment = 7 years
Interest rate = 11% compounded quarterly
The amount of deposit needed today to earn $125,000 in 7 years at annual interest rate of 11% is calculated as follows:
N (# of periods) 28
I/Y (Interest per year) 11
PMT (Periodic Payment) 0
FV (Future Value) 125000
Results
PV = $58,481.53
Total Interest $66,518.47
Based on your analysis, you prepared a report with several inferences. While proofreading, you come across the following inference. Consider this case: Recapitalization might increase the EPS, but the price per share remains the same. Is the statement true or false
Answer: True
Explanation:
Recapitalization refers to a process where a company alters its capital composition. For instance, it can acquire more debt whilst reducing its equity holdings.
Recapitalization can affect the number of shares that a company has and the weight of those shares in relation to debt but it does not change the price of the stock so this statement is true.
An economy has an aggregate demand shortfall of $1200 billion and a GDP gap of $900 billion. The mpc is 2/3. The appropriate fiscal policy to eliminate the gap, using G alone, would be to
Answer:
Change in government expenditure needed = 300
Explanation:
Multiplier 'k' = Change in Income / Change in Govt. expenditure = dY / d GE = 1 / ( 1-MPC )
Desired change in Y, ie GDP = 900 billion , MPC = 2 / 3.
k = 1 / ( 1 - 2/3 ) = 1 / ( 1/3 ) = 3
3 = 900 / d GE
d GE = 900 / 3 = 300
Change in government expenditure = 300
Pestro manufactures a herbicide that is used in the parks in Metroville. After the parks were sprayed with the herbicide, a group of children became ill and required hospitalization. Two dogs that were also in the park that day died. The parents of the children and the dog owners could:____.
a. not bring suit against the city.
b. only bring suit against the city.
c. not bring suit against Pestro because of a lack of privity.
d. bring suit against Pestro under Section 402A even though there is no privity.
Answer:
d. bring suit against Pestro under Section 402A even though there is no privity.
Explanation:
Section 402A enforces strict liability for physical harm that is caused a by the product sold to a buyer by a seller.
It states that if a seller sells a defective product that is unreasonably dangerous to an end user, the seller will be liable for any physical harm that results from its use.
Privity is when a contractual relationship exists between different parties in a transaction.
In the given scenario even without a privity the parents of the children and the dogs can bring suit against Pestro under Section 402A even though there is no privity.
They don't have to have a direct contractual relationship with Pestro.
Primare Corporation has provided the following data concerning last month’s manufacturing operations.
Purchases of raw materials $30,000
Indirect materials used in production $4,520
Direct labor $58,100
Manufacturing overhead applied to work in process $87,400
Underapplied overhead $4,190
Inventories Beginning Ending
Raw materials $11,300 $19,200
Work in process $54,700 $69,900
Finished goods $33,600 $43,600
Required:
a. Prepare a schedule of cost of goods manufactured for the month.
b. Prepare a schedule of cost of goods sold for the month.
Answer:
Results are below.
Explanation:
To calculate the cost of goods manufactured, we need to use the following formula:
Cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
Cost of goods manufactured= 54,700 + (11,300 + 30,000 - 19,200) + 58,100 + 87,400 - 69,900
Cost of goods manufactured= $152,400
Now, the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 33,600 + 152,400 - 43,600
COGS= $142,400
Yuan recently completed his college degree and is entering the labor market for the first time. He has been submitting applications and has been interviewed twice in the last two weeks, but so far has not found a job. Yuan could be classified as
Answer:
Frictionally unemployed.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Natural Rate of Unemployment (NU).
II. Cyclical unemployment rate (CU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Frictional unemployment rate (FU).
Frictionally unemployed describes a situation where an individual isn't able to secure a job briefly as a result of changes in the demand for labor among different organizations.
Hence, Yuan could be classified as frictionally unemployed (search unemployment) because it's based on circumstances surrounding him.
During the previous year, Leveraged Inc. paid $100 million of interest expense, and its average rate of interest for the year was 8%. The company's ROE is 18.4%, and it pays no dividends. Estimate next year's interest expense assuming that interest rates will fall by 34% and the company keeps a constant equity multiplier, Calculate next year's estimated interest expense
Answer:
$67214400
Explanation:
Average rate of interest = 8% = 0.08
Amount paid by leveraged Inc ( previous year ) = $100 million
Growth rate retention = 1 ( since company pays no dividend )
ROE = 18.4% = 0.184
Determine next year's estimated interest expense
Given that Interest rates will fall by 34%
interest expenses = $100,000,000
estimated Interest rate = 0.34
First step : calculate total debt
= interest expense / interest rate
= 100,000,000 / 0.08 = $1,250,000,000
next determine the growth rate
= ROE * growth rate retention = 0.184 * 1 = 0.184
next determine next year's debt
= Total debt * ( 1 + 0.184 )
= 1,250,000,000 * 1.0184 = $1,273,000,000
next determine Interest rate for next year
= interest rate - ( Interest rate * estimated interest rate )
= 0.08 - ( 0.34 * 0.08 ) = 0.0528 = 5.28%
Finally determine next year's estimated interest expense
= 5.28% * $1,273,000,000
= 0.0528 * 1,273,000,000 = $67214400
Combining Supply and Demand
Scenario: The following shows a demand and supply schedule listing CDs demanded and supplied in the
millions) per week at each price. Graph each the following demand/supply schedules on one demand graph
and then answer the questions below:.
$6
Shortage/
Surplus
(Qs - Qd)
$5
$4
Price Per Quantity Quantity
Compact Demanded Supplied
Disc (Qd) (Qs)
$6
o
9
$5
2
6
$4
3
5
$3
4
4
$2
6
3
$1
9
0
$3
$2
$1
1
2 3 4 5 6 7 8
9 10 11 12 13 14
Answer:
the answer is $3
Explanation:
Scholastic Tours is trying to decide which one of two tours it will introduce. The costs and revenues associated with each alternative are listed below: Eastern Tour Western Tour Projected revenue $ 15,000 $ 18,000 Variable costs 1,000 8,000 Fixed costs 5,000 5,000 Profit $ 9,000 $ 5,000 What are the incremental (differential) costs of the Western Tour
Answer:
$7,000
Explanation:
The computation of the incremental (differential) costs of the Western Tour is shown below:
Total cost for eastern tour
= variable cost + fixed cost
= $1,000 + $5,000
= $6,000
And, the total cost for western tour is
= variable cost + fixed cost
= $8,000 + $5,000
= $13,000
So, the different in the cost is
= $13,000 - $6,000
= $7,000
Agreement and disagreement among economists
Suppose that Hubert, an economist from a university in Arizona, and Kate, an economist from a school of industrial relations, are arguing over saving incentives. The following dialogue shows an excerpt from their debate:
Kate: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation.
Hubert: I believe that a cut In income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits.
Kate: I actually feel that raising the top Income tax rate would reduce the budget deficit more effectively.
The disagreement between these economists is most likely due to_____.
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
A. Lawyers make up an excessive percentage of elected officials.
B. Tariffs and Import quotas generally reduce economic welfare.
C. Minimum wage laws do more to harm low-skilled workers than help them.
Answer and Explanation:
The disagreement arise between this economist is due to the differences in the scientific judgements as they disagree due to the various scientific judgements. And, despite their differences, the proposition of two economists should be chosen at random as the tariff and import quotas normally decreased the economic welfare as it always result in deadweight loss and in this both economist should be agree for the same
About 5% of hourly paid workers in a region earn the prevailing minimum wage or less. A grocery chain offers discount rates to companies that have at least 30 employees who earn the prevailing minimum wage or less. Complete parts (a) through (c) below.
a. Company A has 285 employees. What is the probability that Company A will get the discount? (Round to four decimal places as needed.)
b. Company B has 502 employees. What is the probability that Company B will get the discount? (Round to four decimal places as needed.)
c. Company C has 1033 employees. What is the probability that Company C will get the discount? (Round to four decimal places as needed.)
Answer:
a. 0.0000
b. 0.1841
c. 0.9992
Explanation:
a. n = 285
p = 5% = 0.05
μ = np = 285 x 0.05
= 14.25
we fnd the standard deviation
sd = √np(1-p)
= [tex]\sqrt{285*0.05*0.95}[/tex]
= 3.6793
we find the z score
x = 30-0.5 = 29.5
[tex]z=\frac{29.5-14.25}{3.6793} \\= 4.14[/tex]
using the microsoft excel function
1-NORMSDIST(4.14)
probability = 1 -0.999982
= 0.0000
b.
n = 502
p = 0.05
np = 502x0.05
= 25.1
sd = [tex]\sqrt{np(1-p)}[/tex]
= [tex]\sqrt{502*0.05*0.95} \\= 4.8831[/tex]
x = 29.5
[tex]z = \frac{29.5-25.1}{4.8831} \\= 0.90[/tex]
1 - NORMSDIST(0.90)
= 1 - 0.815939875
PROB = 0.1841
c. n = 1033
p = 0.05
np = 1033*0.05
= 51.65
sd [tex]\sqrt{np(1-p)} \\= \sqrt{1033*0.05*0.95}[/tex]
= 7.0048
x = 29.5
[tex]z=\frac{29.5-51.65}{7.0048} \\= -3.16[/tex]
probability =
1 - normsdist(-3.16)
= 1 - 0.000788846
= 0.9992
Digby's Elite product Dug has an awareness of 72%. Digby's Dug product manager for the Elite segment is determined to have more awareness for Dug than Andrews' Elite product Able. She knows that the first $1M in promotion generates 22% new awareness, the second million adds 23% more and the third million adds another 5%. She also knows one-third of Dug's existing awareness is lost every year. Assuming that Able's awareness stays the same next year (77%), out of the promotion budgets below, what is the minimum Digby's Elite product manager should spend in promotion to earn more awareness than Andrews' Able product
Explanation:
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She knows that the first $1M in promotion generates 22% new awareness, the second million adds 23% more and the third million adds another 5%.
What is a promotion?Promotion in marketing is any sort of marketing communication that aims to persuade target audiences of the relative qualities of a given good, service, idea, or brand.
This place can be either cognitive or emotional. Promoting a product or service is intended to raise brand awareness, spark interest, enhance sales, or foster brand loyalty.
One of the fundamental components of the market mix, which also consists of the four Ps (product, pricing, location, and promotion), is this. It aids marketers in establishing a memorable spot in clients' minds.
Promotion includes the communication strategies a marketer does to spread knowledge about its goods. Visual and verbal information can both be conveyed.
One of the components of the promotional mix or promotional plan is promotion. These include event marketing, exhibits, and trade shows, as well as personal selling, advertising, sales promotion, direct marketing, publicity, and word of mouth.
A promotional strategy outlines the importance of each component of the promotional mix as well as how much of the budget should be devoted to each component.
Learn more about promotion, here
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BrandCo currently has 65.6 million shares outstanding. If BrandCo's shares are traing at $57 per share, what is the company's market capitalization (i.e., value of equity)
Answer:
$3,739.20 million
Explanation:
Calculating the company's market capitalization
- 65.6 million shares outstanding
- If BrandCo's shares are trading at $57 per share
Company's market capitalization = Shares outstanding * Current price
Company's market capitalization = 65.6 million shares * $57
Company's market capitalization = $3,739.20 million