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nlexa [21]
3 years ago
14

A recent study about online shopping asked respondents to indicate their education level on the following scale "Less than High

School, " "High School, " "Some College, " "College+". Which of the following statements is (are) I. Education level is a categorical variable.II. Education level is nominal scaled.III. Education level is ordinal scaled. A. I onlyB. III onlyC. Both I and IIID. Both I and III
Business
1 answer:
liberstina [14]3 years ago
3 0

Answer:

C. Both I and III.

Explanation:

The education level is categorical variable and is ordinal scaled.

Ordinal level is a second level statistical measurement technique. It allows ranks to the data for its categorization and degree of variation is not determined between data.  Education level is ordinal scale because it provides orders of quantitative data.

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Kunkel Company makes two products and uses a conventional costing system. A single plantwide predetermined overhead rate is comp
Ilia_Sergeevich [38]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Total number of direct labor hours= (1,000*2) + (2,000*7)= 16,000

Predetermined manufacturing overhead rate= 1,200,000 / 16,000

Predetermined manufacturing overhead rate= $75 per direct labor hour

<u>Now, we allocate overhead to each unit and calculate the unitary cost:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Mercon:

Allocated MOH= 75*2= $150

Unitary cost= 150 + 8 + 10= $168

Wurcon:

Allocated MOH= 75*7= $525

Unitary cost= 525 + 6 + 11= $542

<u>Finally, using activity-based costing:</u>

Mercon Wurcon Total

Engineering design time (in hours) 1,000 1,000 2,000

Direct labor-hours 2,000 14,000 16,000

Engineering= 600,000 / 2,000= $300 per design hour

Direct labor= 600,000 / 16,000= $37.5 per direct labor hour

Mercon:

Allocated MOH= 37.5*2 + 300*1= $375

Unitary cost= 375 + 8 + 10= $393

Wurcon:

Allocated MOH= 37.5*7 + 300*0.5= $412.5

Unitary cost= 412.5 + 6 + 11= $429.5

3 0
3 years ago
Suppose you build a model of the market for umbrellas, in which the predicted number of umbrellas sold by a shop depends on thei
SVETLANKA909090 [29]

Answer:

Quantity, location and weather

Explanation:

The concept of the ceteris paribus, is vital in economics as in the real world, it is generally hard to isolate all the variables that are different, and might change the result or outcome.

The ceteris paribus is the simplification, which include holding other things ( both outside as well as inside the model) constant. In this situation, all variables except price and the color are held constant. In this example, such as quantity, weather and location are held constant.

8 0
3 years ago
At a zero price, quantity demanded will be equal to zero. An increase in market price will lead to an increase in quantity deman
marishachu [46]

Yes a reduction in market price will lead to an increase in quantity demanded.

Explanation:

It is true that when price decreases demand increases as these two factors affects each other inversely. There is a negative relationship between price and demand and it is known as Law of demand.

If the price increases , the quantity demanded falls down (but demand itself stays the same). If the price falls down, quantity demanded goes up. People who were demanding less due to the high price will demand more if price falls as this will not affect the their pocket more as earlier.

8 0
4 years ago
What information does a person need to know before renting an apartment?
sleet_krkn [62]

Answer:2

Explanation:

2

5 0
3 years ago
Silicon Valley in Northern California is famous as the home to many businesses that produce high-tech products or serve high-tec
german

Answer:

E) agglomeration economies

Explanation:

Agglomeration economies refers to a lot of companies being located close to one another. Generally most of these companies work on the same industry, e.g. Detroit for car manufacturers.

The main advantage of agglomeration economies is that synergy may be created between different firms which allows them to be more efficient and productive, and at the same time they will lower their costs.

4 0
3 years ago
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