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3 years ago

How does consumer income affect the demand for normal and inferior goods?

Business

1 answer:

kirill115 [55]3 years ago

4 0

Answer:

to answer this, we have to first understand the meaning of normal and inferior goods. normal goods are goods which demand rises as consumers income rises while inferior goods are the opposite of normal goods because the demand for them increase as the consumers income drops. so when a consumers income drops his demand for inferior goods tends to rise while that or normal goods drop and vice versa

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According to the scrum process, once the tasks are known for a given set of requirements, the next step is to assign each task a

garri49 [273]

The answer is points...im 100%, I searched your question on google and found it, sometimes all you have to do is google it and then you dont have to waste points :)

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4 years ago

At October 1, 2015, Padilla Industries had an accounts payable balance of $40,000. During the month, the company made purchases

Evgesh-ka [11]

Answer:

The amount of account payable on October 31, 2015 would be $25,000.

Explanation:

Given information -

Opening account payable balance on October 1 - $40,000

Purchase made in the month of October is - $33,000

Now by adding both the opening balance and purchase , we will get the total amount to be payable for the month of October,

$40,000 + $33,000

= $73,000

Now it is given that Padilla industries have made some payments on account - $48,000

Subtracting this amount paid from total account payable , we will get how much amount is left to be paid in October ( 31 )

$73,000 - $48,000

= $25,000

7 0

3 years ago

Weekly demand figures at Hot Pizza are as follows:

garri49 [273]

Answer:

MAD: 10.04, 11.53

MAPSE: 10% , 12%

MSE : 146.33, 178.72

Bias : -0.56 , -0.96

3-week moving average method is better

Explanation:

i ) Evaluate MAD ( average of absolute errors )

using 3 week moving average

= 10.04

using simple exponential smoothing

= 11.53

ii) MAPSE ( average of absolute percentage error )

using 3 week moving average

= 10%

using simple exponential smoothing

= 12%

iii) MSE ( average of Squared Errors )

3 week MV = 146.33 , Simple exponential smoothing = 178.72.

iv) Bias

3 week MV = -5/9 = -0.56, Simple exponential smoothing = -8.69/9 = -0.96.

v) TS ( Total error / MAD )

3 week MV = -5 / 10.04 = -0.49 ,

simple exponential smoothing = -8.69 / 11.53 = -0.75

b) I prefer 3-week moving average based on the values of MAD , MAPE, MSE, bias and TS which shows that there is a better estimate when using the 3 -weeks moving average.

Attached below is the Tabular calculations of the required parameters for the question

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3 years ago

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mario62 [17]

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3 years ago

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You can advertise your business to inform people.

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