Answer:
The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.
Explanation:
In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.
The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.
It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.
Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."
I wish you the best.
Answer: Option A
Explanation: The basic organisational structure and several different characteristics prevailing in a business environment together constitutes a market structure. In an oligopolistic there are very few large firms which dominate the market, for example - auto industry.
As firms in the oligopolistic market are very high this results in high concentration in the market. Each firm in this market structure operates in so large scale that actions of one affects the operations of others.
Usually the capital need in such industries is too large making it difficult to entry also the need for several licenses acts as barriers to entry but there is no such thing like NO ENTRY in such industries.
Answer:
Systematic management
Explanation:
Systematic management is an approach of management which focus on the process of the management instead of the final outcome. The objectives of this approach to the management are:
To establish the particular procedures and processes to be used in the completion of the job task.
So, the systematic management is the one which focus on the internal operations as managers are concerned with the growth brought about through the Industrial Revolution.
A market mix is the blending of four marketing elements product, distribution price and promotion
Answer: the answer is 90.0
Explanation:
From the question above, we are given:
G = 11
I = 4
X = M = 0
Consumption function is:
C = k + cY
Where:
k = 3
c = 0.8
The GDP of a nation is given as:
Y = C + I + G + NX
By imputing the values into the GDP equation, we have:
Y = k + cY + 4 + 11 + 0
Y = 3 + 0.8Y +15
Y - 0.8Y = 18
0.2Y = 18
Y = 90.0
