a. The probability that a student goes to seek for minor clarification from the professor during office hours = 6%.
b. The probability that a student goes to the professor for major clarification = 14%.
Data and Calculations:
Percentage of students in the class who go to the professor to seek clarifications = 20% (a)
Percentage of students in the class who do not go to the professor to seek clarifications = 80% (100% - 20%) (b)
Percentage of (a) who seek minor clarification = 30%
Percentage of (a) who seek major clarification = 70%
Probability of (a) seeking minor clarification = 6% (20% x 30%)
Probability of (a) seeking major clarification = 14% (20% x 70%)
Thus, the probability of students seeking minor clarification is 6% while the probability of students seeking major clarification is 14%.
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Answer:
True
Explanation:
In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price takers. Market price is set by the forces of demand and supply.
If the seller attempts to set his own price and sets it above the market price, the seller would lose all its customers and make zero sales.
If the seller attempts to set his own price and sets it below the market price, the seller would make losses .
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Answer:
The target selling price =$45
Explanation:
The target selling price is the sum of the total unit cost plus 25% of the the unit cost
The target selling price = Total per unit cost + (25% × total unit cost)
The total unit cost is the sum of all the costs involved making the product available to the consumer.
The sum of direct material cost , labour cost variable manufacturing, fixed manufacturing overhead, variable selling and administrative expenses and fixed selling and administrative expenses.
The target selling price would be determined using te steps below:
Step 1: Calculate the unit cost
Total unit cost = 10 + 4 + 3 + 10 + 1 + 8 = 36
Total unit cost = $36
Step 2: Calculate the target selling price
Target selling price = Unit cost + (25%× unit cost)
The target selling price = 36 + (25% × 36) = $45
The target selling price =$45
Answer:
<h2>The marketing research process involves six steps:</h2><h3>1: problem definition, 2: development of an approach to the problem, 3: research design formulation, 4: data collection, 5: data preparation and analysis, and 6: report preparation and presentation.</h3>
Explanation:
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