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4 years ago

Explain the difference between primary and secondary data

Business

1 answer:

SCORPION-xisa [38]4 years ago

5 0

Answer:

Key Differences Between Primary and Secondary Data

Primary data is a real-time data whereas secondary data is one which relates to the past. Primary data is collected for addressing the problem at hand while secondary data is collected for purposes other than the problem at hand.

Explanation:

Hope this helps.

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Develop an Excel worksheet simulation for the following problem. The management of Paragon Household Products is considering the

Alexxandr [17]

<h2><u>Disclamer:</u></h2>

As it ask to run simulations the values calculates will difer even if you follow the same step as I did.

Answer:

Mean Profit: $ 4,295

Probability of loss: 29.80%

As the product has a mean profit it will on average generate gains

but:

as the standard deviation of the simulation was $ 7,778.40

<u>we should not invest on the product as it is to variable</u>

<u>Explanation</u>:

We are going to use the =RAND() function of excel

which, generates a random number between 0 and 1

This will be done 1,000 times 500 for the variable cost

and 500 for the demand.

Then we copy and paste this numbers to get them fixed.

Then, we convert them into actual cost and demand in units considering their distribution

using excel dist.norm.inv

Now, with this values we solve for profit on each one.

<u></u>

FOr the complexity I attached the excel file as the plataform interface cannot handle large tables.

Download xlsx

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3 years ago

You think this intensive production schedule will deplete the nutrients in the soil, which ensure good wheat. Does this matter i

katovenus [111]

Yes, it matters very much. The crops that will plant on our farmlands ought to be rotated in such a way that the soil fertility will be maximized. If the nutrients in the soil are depleted, the soil will become infertile and the yields that a farmer will get from his planting will be drastically low. Thus, it is important to protect soil nutrients at all time during planting operation.

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3 years ago

Read 2 more answers

Plz sum one help me bc im in a argument with my friend and i don't know what to say any more

katen-ka-za [31]

ok whts the fight abt? how long have yall been fighting?

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3 years ago

Read 2 more answers

1. Albertville has budgeted fixed overhead of $67,500 based on budgeted production of 4,500 units. During July, 4,700 units were

iren [92.7K]

Answer:

A. (a) 3,900 (unfavorable).

B. (d) 3,000 (favorable).

C. (c) 10,525 (favorable).

Explanation:

Requirement A

We know,

Fixed overhead spending variance = (Budgeted fixed overhead - Actual fixed overhead)

Given,

Budgeted fixed overhead = $67,500

Actual fixed overhead = $71,400

Putting the values into the formula, we can get

Fixed overhead spending variance = (Budgeted fixed overhead - Actual fixed overhead)

Or, Fixed overhead spending variance = ($67,500 - $71,400)

Or, Fixed overhead spending variance = -3,900

Therefore, Fixed overhead spending variance = 3,900 (unfavorable).

Since Budgeted fixed overhead is less than Actual fixed overhead, the situation is unfavorable.

So option A is the answer.

Requirement B

We know,

Fixed overhead volume variance = (Standard units - Budgeted units) × Standard fixed overhead rate.

Given,

Standard units = 4,700 units

Budgeted units = 4,500 units

Standard fixed overhead rate = $67,500 ÷ 4,500

Standard fixed overhead rate = $15

Putting the values into the formula, we can get

Fixed overhead volume variance = (4,700 - 4,500) × $15

Or, Fixed overhead volume variance = 200 × $15

Or, Fixed overhead volume variance = 3,000

Therefore, Fixed overhead volume variance = 3,000 (favorable)

Since budgeted fixed volume is higher than Actual fixed volume, the situation is favorable.

So option D is the answer.

Requirement C

We know,

Direct labor rate variance = (Standard rate - Actual rate) × Actual hour

Given,

Standard rate = $22.50

Actual rate = $189,500 ÷ 8,890 = 21.3161

Actual hour = 8,890

Putting the values into the formula, we can get

Direct labor rate variance = ($22.50 - 21.3161) × 8,890

Or, Direct labor rate variance = 1.1839 × 8,890

Or, Direct labor rate variance = 10,525

Therefore, Direct labor rate variance = 10,525 (favorable).

Since direct labor rate is higher than Actual labor rate, the situation is favorable.

So option C is the answer.

3 0

4 years ago

In an economy open to international trade ________.

Serjik [45]

Answer: D) saving equals investment as long as NX = 0

Explanation:

The last option was incomplete as it should have said ...NX = 0.

The Income/GDP of a country that is open to international trade is calculated as follows:

Income = Consumption + Investment + Government spending + Net exports

Y = C + I + G + NX

If NX = 0 then the formula becomes:

Y = C + I + G

Investment in this scenario is therefore:

I = Y - C - G

This is the same as savings as savings is calculated by subtracting consumption and government spending from the total income. This is because government spending is derived from taxes so the cash that people get to save is their income less than their taxes and consumption expenses.

S = Y - C - G = Y

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3 years ago