All categories

3 years ago

If small samples can reveal something that large samples might not, why not just take small samples in every situation?

1 answer:

swat323 years ago

8 0

Taking small samples in every situation is not always appropriate. If the populations are very large, you cannot just take small samples because it will not represent the entire population. Small samples are usually for verifications purposes that is the reason why it can detect some errors that the larger samples cannot.

You might be interested in

1. Frank’s electric bill has a cycle day of the 3rd and a due date 8 days later with a one day grace period. What happens if Fra

MaRussiya [10]

The answer is he won't be paying any late or penalty fee.
Grace period is usually given by the company as a form of goodwill towards the consumers who are late in paying their late bills.
Since on the 12th day is still considered within the one day grace period, Frank is not entitled to pay any additional amount from his usual charge of the bill (or any other form of penalties)

5 0

3 years ago

Read 2 more answers

What advice you would give someone embarking on a job search about being assertive, and explain the difference between being agg

sammy [17]

Being assertive is like being confidant, and bold. Assertive people ask for what they want, or maybe even demand it, but always within reason, and never in a threatening way. Aggressive people demand everything in a harsh way, and can be pushy. My tips for being assertive would be to make eye contact, shake hands, and speak clearly. Don't be afraid to ask questions. With most jobs you have to deal with customers, make sure they know you are comfortable interacting with people. Hope this helps!

6 0

3 years ago

When the market does not result in an efficient allocation of scarce resources, economists call this:

Westkost [7]

Answer:

Explanation:

it's called market dropout

6 0

3 years ago

In Sammy's fast food restaurant, she produces sandwiches, soups, and other items for customers in her town. Which of the followi

Hunter-Best [27]

Answer:

d) the dining room where customers eat their meals

Explanation:

In the given situation, since it is mentioned there is a Sammy's fast food restaurant that generates the sandwiches, soups, and other items for customers

So based on the options given, the last option should be considered as a fixed input for the production function as the dining room is a fixed plus non-movable item so the same is to be considered

hence, the correct option is d.

5 0

3 years ago

. If Canace Company, with a break-even point at $313,500 of sales, has actual sales of $570,000, what is the margin of safety ex

Gre4nikov [31]

Answer:

Canace Company

a-1) Margin of safety is:

= $256,500.

a-2) Margin of safety is:

= 55%.

b) The amount of actual sales is:

= $5,677,500.

Explanation:

a) Data and Calculations:

Break-even point sales = $313,500

Actual sales = $570,000

Margin of safety = $256,500 ($570,000 - $313,500)

Margin of safety as a percentage of sales = 55% ($313,500/$570,000 * 100)

2) Margin of safety = 25%

Fixed costs = $1,419,375

Break-even point in sales dollars = $1,419,375

Variable costs = 75% of sales

Contribution margin at break-even point = 25% (100% - 75%) = $1,419,375

Actual sales in dollars = $5,677,500 ($1,419,375/25%)

6 0

3 years ago