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igor_vitrenko [27]
1 year ago
10

We use statistics when making decisions, rather than parameters, because ________________.

Business
1 answer:
natka813 [3]1 year ago
4 0

Statistics are used in place of parameters for making decisions since they are simpler to collect.

<h3>What are the guidelines?</h3>

In general, a parameter is any feature that aids in describing or categorizing a certain system. In other words, a parameter is a component of a system that is crucial or useful for identifying the system or assessing its functionality, status, or other characteristics.

To describe the entire population under study, a parameter is utilized. For instance, we are interested in learning the typical length of a butterfly. This information about the total butterfly population makes it a parameter.

Three different parameter kinds,

  • Value Specifiers.
  • Parameters of Reference.
  • output variables

To learn more about parameters, refer to:

brainly.com/question/13794992

#SPJ4

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Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require high
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Answer:

A. The company paid a higher cost for the direct materials than allowed by the standards.

Explanation:

The following is a logical explanation for this variance:

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A produce distributor uses 773 packing crates a month, which it purchases at a cost of $11 each. The manager has assigned an ann
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\sqrt\frac{2*773*28}{33}Answer:

Explanation:

Using the EOQ Formula =  EOQ\sqrt\frac{2*D*O}{H}

D = Demand = 773

O = Ordering Cost =28

H = holding Cost = 11*33% =3.63

So we have :

EOQ=\sqrt\frac{2*D*O}{H}

EOQ= \sqrt\frac{2*773*28}{3.63}

EOQ=\sqrt\frac{43288\\}{3.63}

EOQ= \sqrt{11925.06887}

EOQ= 109.20196

   

Previous per unit order cost = 28/773 =0.03622

No of Orders = D/o  

No of Orders = 773/109.20196 =7.0786

Cost per order =109.20196*0.03622 =3.9555

Total order cost= 7.0786*3.9555=27.9998

At EOQ holding Cost is equal to Order Cost

New Order cost =27.9998

Holding Cost = 27.9998

New cost As per EOQ = 56

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Net Saving = 5

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Make a case that development economics might be merely a combination of all the other subfields of economics, only applied to lo
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Answer:

Case explained below

Explanation:

Development economics is a branch of economics which deals with economic aspects of the development process in low income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, either through health, education and workplace conditions, whether through public or private channels.

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