1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Natali5045456 [20]
3 years ago
14

A restaurant served 27,000 customers in 2012. in 2014, the restaurant served 28,400 customers. write a linear model that represe

nts the number yy of customers that the restaurant serves xx years after 2012. use the model to predict the number of customers that the restaurant will serve in 2020.
Business
2 answers:
Fudgin [204]3 years ago
4 0

You would first need to determine the increase in the number of customer served each year, inferred by the number of customers served in 2014 less the customers served in 2012, divided by 2 to determine single year growth. This gives us: (28,400 - 27,000) /2 = 700 There is a growth of 700 customers /year. Next, formulate the linear model with this information: y = 700x + 27,000 where x is (model year - 2012). Therefore, the number of customers in the year 2020 would be: y = 700x + 27,000 y = (700 * (2020 - 2012)) + 27,000 y = (700 * 8) + 27,000 y = 5,600 * 27,000 = 32,600 customers served in 2020

Kitty [74]3 years ago
3 0
<span>You would first need to determine the increase in the number of customer served each year, inferred by the number of customers served in 2014 less the customers served in 2012, divided by 2 to determine single year growth. This gives us: (28,400 - 27,000) /2 = 700 There is a growth of 700 customers /year. Next, formulate the linear model with this information: yy = 700xx + 27,000 where xx is (model year - 2012). Therefore, the number of customers in the year 2020 would be: yy = 700xx + 27,000 yy = (700 * (2020 - 2012)) + 27,000 yy = (700 * 8) + 27,000 yy = 5,600 * 27,000 = 32,600 customers served in 2020</span>
You might be interested in
The cashew industry is perfectly competitive and until now each of the identical firms in the industry have been earning zero ec
gladu [14]

Answer:

a. iii. Too little

b. i. The industry's supply of cashews will exceed Q1 and the price of cashews will equal P1.

Explanation:

Allocative efficiency refers to the point in production where Marginal Revenue equals Marginal cost. As this is a perfectly competitive market, marginal revenue is the same as price which as shown in the question, exceeds Marginal cost. The firms are therefore producing too little to achieve allocative efficiency and need to produce more to make price and marginal cost equal.

In the long run, the firms will produce more such that supply would exceed the original quantity supplied of Q1. This will lead to the price falling back to P1 as there is now less scarcity.

8 0
3 years ago
The key to setting a final price for a product is finding an approximate price level to use as a reasonable starting point. Four
nadya68 [22]

Answer:

competition-oriented

Explanation:

Four common approaches to selecting an approximate price level are (1) demand-oriented, (2) cost-oriented, (3) profit-oriented, and (4) competition-oriented approaches

4 0
3 years ago
In a market economy, which of the following is NOT an accepted role of government?
SOVA2 [1]

Answer:

providing for national defense

Explanation:

yes

6 0
2 years ago
benjamin company has the following results of operations for the pat tyear. A foreign company (whose sales will not affect Benja
maks197457 [2]

Answer:

Increase by $5,975

Explanation:

Calculation to determine the profit

First step is to calculate the Direct Material and Direct labor per unit

Direct Material and Direct labor per unit=$100,000/16,000

Direct Material and Direct labor per unit=$6.25

Second step is to calculate the Relevant Variable Overhead

Relevant Variable Overhead = 20,000 * 20%

Relevant Variable Overhead= $4,000

Third step is to calculate the

Relevant Variable Cost per unit = $4,000 / 16,000

Relevant Variable Cost per unit= $0.25

Fourth step is to calculate the Total Relevant Variable cost per unit

Total Relevant Variable cost per unit = $6.25 + $0.25

Total Relevant Variable cost per unit= $6.5

Fifth step is to calculate the Relevant Contribution Margin per unit

Relevant Contribution Margin per unit = $8.05 - $6.5

Relevant Contribution Margin per unit= $1.55

Sixth step is to calculate the Total Contribution

Total Contribution = 4,500 * $1.55

Total Contribution= $6,975

Now let calculate the profit using this formula

Profit = Contribution - Fixed Cost

Let plug in the formula

Profit = $6,975 - $650 - $350

Profit = $5,975

Therefore If Benjamin accepts the offer, its profits will:Increase by $5,975

5 0
3 years ago
Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co
ICE Princess25 [194]

Answer:

Ending inventory is <u>$24,917</u>.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

<u>For Cameras:</u>

Units = 113

Cost per unit = $61

net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

<u>For Blu-ray players:</u>

Units = 153

Cost per unit = $77

net realizable value per unit = $50

We choose net realizable value per unit since it is lower and we have:

Blu-ray players ending inventory = 153 * $50 = $7,650

<u>For iPods:</u>

Units = 133

Cost per unit = $86

net realizable value per unit = $78

We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

<u>Calculation of ending inventory:</u>

Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

8 0
3 years ago
Other questions:
  • Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sh
    13·1 answer
  • That portion of corporate profits which is included in personal income is: dividends corporate income taxes consumption of fixed
    11·1 answer
  • The action of using a mouse to drag a selection from its original location and drop it in a new location
    7·1 answer
  • Which explains a way the U.S. government has created incentives for people to save?
    10·1 answer
  • Huey sold a warehouse with an original cost of $150,000 for $230,000 to an S corp where he owns a 51% interest. The S corp will
    7·1 answer
  • The trial balance of Sheffield Corp. at the end of its fiscal year, August 31, 2020, includes these accounts: Inventory $19,500;
    12·1 answer
  • An aging of a company’s accounts receivable indicates that estimate of the uncollectible accounts totals $4,000. If Allowance fo
    9·1 answer
  • The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investm
    8·1 answer
  • A company has two products: A1 and B2 . It uses activity based costing and has prepared the following analysis showing budgeted
    9·1 answer
  • uppose that the resource base in Country X can produce either 100 units of alpha or 300 units of beta. Similarly, suppose that C
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!