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1 year ago

jaggia/kelly, business statistics: communicating with numbers 4e fsu follett access isbn 9781265420307

1 answer:

3 0

Business Statistics is a fun and insightful course for both students and teachers. Years of teaching experience have shown that an effective way to make statistics interesting is to use modern business applications that students can relate to.

Intriguing from the outset students may unknowingly learn statistics. Through careful matching of timely applications and statistical methods, students learn to understand the relevance of business statistics in the modern world. Wrote company statistics.

Communicating with Numbers There is a need for a modern, central statistics textbook that engages students and bridges the gap between how statistics is taught and how practitioners conceive and apply statistical methods. Because I thought. Throughout the text, the emphasis is on communicating with numbers rather than cracking them. In each chapter, students are confronted with statistical information conveyed in writing.

Learn more about Business Statistics here:-https://brainly.ph/question/2576561

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Why do companies frequently expand their business operations into other countries?

natta225 [31]

C ompanies frequently expand their business operations into other countries because it is cost effective. ... The demand for something in another country may be higher than the demand for something in your country as well so it would be good to sell it elsewhere.

4 0

3 years ago

If there is an increase in demand for a good, what will most likely happen to the price and quantity of the good exchanged?

maxonik [38]

Answer:

demand curve shift right means price intersects lower and quantity is increased

Explanation:

price decrease, quantity increase

7 0

2 years ago

A minimum acceptable rate of return for an investment decision is called the: Multiple Choice Internal rate of return. Average r

spayn [35]

Answer:

Hurdle rate of return.

Explanation:

A hurdle rate can be regarded as minimum rate of return that is been required by an investor or manager

on a particular project or investment.

The hurdle rate gives the description of the appropriate compensation as regards level of risk present. There are

higher hurdle rates associated with riskier projects.

It should be noted that A minimum acceptable rate of return for an investment decision is called the Hurdle rate of return.

6 0

3 years ago

Which of the following is an adaptive change in an organization? Introduction of a method that is new to the organization Introd

Airida [17]

Answer:

Reintroduction of a practice familiar to the organization

Explanation:

Adaptive change for an organization would refer to those changes in structure and policies introduced which would be easier for the existing workforce to adapt to.

In the given case, reintroduction of a previously familiar practice would be easier to implement and workers would find it easier to adapt to since the practice isn't altogether new to them. Hence, it would constitute an adaptive change in the organizational context.

8 0

3 years ago

How to draw a break even chart?

Rama09 [41]

Answer:

Drawing a break-even diagram

Do not rush into drawing. Think first, and you will see it is wise to work out the BEQ before putting pencil to paper.

Having read the question you may now start to follow a procedure. You will be given fixed costs, price and variable costs for a product and a period of time. Remember the alternative words for fixed and variable costs.

Explanation:

Step 1 Extract the data

Extract the data required from the question or text. (The use of case study questions and the provision of written stimulus material provides the scope for the 'hiding' of data.)

You should now have identified: FC per period of time, price per unit and VC per unit. Assume you have extracted the following information from your case study:

• FC: $480 000 per month.

• VC: $60 per unit

• Price: $120 per unit

The decision whether a cost is fixed and variable sometimes causes problems. Do not be confused by the title, or name, but look at the units given. If costs are 'per unit' or 'per number made or sold' then the cost concerned is variable. If the costs are 'per unit time', e.g. per year, then the costs are fixed costs.

Step 2 Calculate the BEQ

The break-even formula is relatively simple: see image 1

We have already discussed contribution in some detail and said its full title is contribution to fixed costs and overheads. In a break-even question there are two terms you will probably never see:

• Overheads

• Semi-variable costs

Both these terms add unnecessary complications to the analysis and are not used.

So, for simplicity, we will define contribution here as contribution to fixed costs.

This break-even formula is very logical really. If each unit sold covers its variable (direct costs) and then contributes another $20 to fixed costs, it is very easy to say when fixed costs will be paid, e.g. see image 2

In all of these examples, fixed costs are paid when enough units are produced and sold to generate enough contribution. See image 3

Insert the correct numbers (watch the zero's) see image 4

So we now know that the BEQ is 8,000 units per month. We know where the TC line will cross the TR line. This is a useful check when you construct your graph.

Now we can start drawing, step by step

It is advisable to construct a table before drawing the break-even chart:

Your table should look like this: see image 5

Immediately from the table, it can be seen that the break-even point is 8000 units where TR = TC and profit is zero.

Also notice the patterns in the table which make the calculations easier. For example, for every 2000 units of output:

• VC/TC increases 120 000

• Total revenues increase 240 000

• Profit increases 120 000

Step 3 Fix the X axis (capacity)

You will be able to start drawing very soon!

If you are given a maximum capacity, use that figure. If not, double the break-even quantity is a good guide figure, or 16,000 units in this case.

Now sketch that information. See image 6

Step 4 Fix the Y axis (revenue and costs)

Revenue is usually the greatest figure. In this case the maximum revenue is 16,000 x $120 = $1.92 million (price per unit x maximum possible sales). See image 7

Step 5 Plot the TR axis

This passes through the origin, since there is no revenue if there are sales. You also know that TR = $1.92 million when sales = 16,000 see image 8

Step 6 Add the FC line

Fixed costs are the same, irrespective of output. So mark on the Y axis the value of the FC. In this case it is $480,000. Then draw the fixed cost curve.

Remember, fixed costs are the costs of producing at 'output zero'. See image 9

Step 7 Add the TC Line

You know that this crosses the TR line at the BEQ, and that it starts at the FC at output zero, so draw it. See image 10

You also know that the TC at maximum output of 16,000 units is:

$480,000 + 16,000 ($60) = $1.44 million.

Remember to add labels to the two axes and to give the chart a title! It is no exaggeration; there may be a mark or two available for this. Always take the 'gift marks'.

You now have an exact break-even diagram.

4 0

3 years ago