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Vladimir79 [104]
3 years ago
9

Method of Least Squares, Developing and Using the Cost Formula The method of least squares was used to develop a cost equation t

o predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received:
Intercept 201,200
Slope 365
The cost driver used was number of parts inspected.

1. What is the cost formula?
Total cost receiving of =$ + ($x)

2. Using the cost formula from Requirement 1, identify each of the following: independent variable, dependent variable, Variable rate per professional hour, and fixed cost per month.

3. Using the cost formula, predict the cost of receiving for a month in which 8,000 parts are inspected.

Total cost of receiving = $

Business
1 answer:
liberstina [14]3 years ago
5 0

Answer:

Total cost of receiving 8000 parts: 2878700

Detailed solution is given in tabular form below:

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Answer:

Setting a price floor below the equilibrium price.

Explanation:

To begin with, it is essential to understand some key concepts:

1. Price floor - can be regarded as the least price that can be established for a category of products in the market.

2. Price Ceiling, on the other hand, can be regarded as the price cap to ensure price of a commodity does not rise above a certain level.

Essentially, price floor and price ceiling are two elements of price control.

Equilibrium price can be regarded as price at which quantity demanded equals quantity supplied.

Equilibrium price is thus the optimum and best combination of demand and supply that could give an optimum return. Any price short of the equilibrium price is often at the risk of the seller.

Thus, setting a price floor below the equilibrium price is tantamount to reducing the interest of the seller in selling such products. Ultimately, this reduces the amount of goods available in the market, while the demand will be enormous, owing to the lower price floor. The implication is that the quantity that can be bought or sold has been effectively curtailed by the government.

On the other hand, setting price ceiling above the equilibrium price would not achieve the objective of the government. This would only ensure the flooding of commodities in the market, effectively dwarfing the quantity demanded. This is away from the objective of the government as implied in this given question.

7 0
3 years ago
Cost pressure from international competitors pushes companies toward greater scale and efficiency. But some products must also m
SSSSS [86.1K]

Answer:

Transnational strategy

Explanation:

There is a difference in global approach and Transnational approach.

In global approach, one product is sold and promoted the same way across all channels and location. While in the case of Transnational strategy, it is more like a customized or personalized approach to sell products to a particular targeted audience.

Hope this helps.

Good Luck.

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The restaurant sector continues to grow despite the hurting economy.<br><br> O True<br><br> O False
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Answer:

True.

Explanation:

^^

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Evelyn, who owns and operates Eve's Farm &amp; Garden Company, agrees to sell Hill &amp; Dale Produce, Inc., fifty bushels of ap
IrinaK [193]

Answer:

The answer is: A) breached

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