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elixir [45]
3 years ago
7

According to the Bureau of Labor Statistics, in calendar year 2000, the average duration of unemployment was 12.7 weeks, with a

standard deviation of 0.3 weeks. Assuming that distribution is approximately normal, what is the probability that a randomly selected individual who was unemployed in 2000 would have been unemployed between 12 and 13 weeks?
Business
1 answer:
Verdich [7]3 years ago
7 0

Answer:

0.8314

Explanation:

First, we are given the following

Unemployment during on Average = U= 12.7 weeks

Standard deviation= SD = 0.3 Weeks

Therefore, P (12  Greater than x  Greater than 13)

= P (12-12.7 /0.3 Greater than X -U/SD Greter than 13-12.7/0.3)

= P (-0.7/0.3 Greater than Z Greater than 0.3/0.3)

= P (-2.33 Greater than  Z  Greater than   1)

= P (Z Greater than 1)  - P (Z Greaer than -2.33)

At this Point we make use of he Z table to find out the figure

= 0.8413 - 0.0099

= 0.8314

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Define economic profit. Explain how economic profit is different than accounting profit. Why is it important for economists to m
saul85 [17]

Answer:

a. Economic profit is the excess of revenue over both opportunity (implicit) and explicit costs.  Explicit costs are the cost of all inputs used.

b. The difference between economic profit and accounting profit is that in calculating economic profit, both the explicit costs and the implicit or opportunity costs are deducted from the revenue.  Whereas, in computing the accounting profit, only the explicit costs are deducted from the revenue.

c. Economists measure economic profit rather than accounting profit because economists believe that the real cost of an output includes the economic or opportunity cost (potential benefits lost as a result of the course of action chosen).

Explanation:

Opportunity cost is the implicit cost incurred, which is equal to the potential benefits lost by an individual or a business, when an alternative is chosen instead of the other alternative.  It is an important concept in the computation of economic profit.  The concept ensures that both implicit and explicit costs are considered when determining the profits generated by a business.

3 0
3 years ago
Who determines who is authorized for access to areas containing sensitive devices/data/system
Alex Ar [27]

Answer:

Im thinking it is the FBI

Explanation: MY guess would point to the FBI bc they are the ones who come in on cyber related crimes. so i would say A is the correct answer

6 0
3 years ago
Read 2 more answers
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Flura [38]

Answer:

Following is attached the solution to each part of the given question.

I hope it will help you a lot!

Explanation:

3 0
3 years ago
Cotrone Beverages makes energy drinks in three flavors: Original, Strawberry, and Orange. Company is currently operating at 75 p
yulyashka [42]

Answer:

Yes Strawberry line should be dropped as it reduces the overall profit by$ 3600 when the fixed costs are not 20 %

Yes Strawberry line should be dropped as it reduces the overall profit by$ 1720 even when the fixed costs are  20 %

Explanation:

Cotrone Beverages

Differential Analysis

                          Totals                    Totals             Difference / Change

                      including    (less)   Without   (equals)

                     Strawberry             Strawberry

Sales                           253,200    167,600           85600  Decrease

Variable costs              201,400   124,200          77200    Decrease

Fixed costs allocated  35,600        28,480          7120    Decrease

<u>Operating profit (loss)   </u><u>13,200       14,920           (1720)     Increase</u>

<u>Working </u>

<u>Total Fixed Costs Reduced will be = </u> 35,600 *20%= 7120

Here we see the profit is increased by 1720 therefore strawberry line should be dropped.

Cotrone Beverages

Differential Analysis

                          Totals                    Totals             Difference / Change

                      including    (less)   Without   (equals)

                     Strawberry             Strawberry

Sales                           253,200    167,600           85600  Decrease

Variable costs              201,400   124,200          77200    Decrease

Contribution margin     51,800       43,400           8,400    Decrease

Fixed costs allocated  35,600        23,600          12000    Decrease

<u>Operating profit (loss)   </u><u>13,200       16,800           (3,600)   Increase</u>

<u></u>

Yes Strawberry line should be dropped as it reduces the overall profit by$ 3600

<u><em>Working </em></u>

<u><em>We find the totals with and without the strawberry product line and then subtract to find the   differential costs</em></u>

Cotrone Beverages

Product                        Original             Strawberry       Orange     Total

Sales                            $65,200            $85,600         $102,400   253,200

Variable costs              44,000              77,200             80,200      201,400

Contribution margin $21,200                $8,400          $22,200       51,800

Fixed costs allocated 9,400                  12,000              14,200     35,600

Operating profit (loss) $11,800               $(3,600)           $8,000     13,200

If we drop the strawberry line then the new totals would be

Product                        Original          Orange      Total

Sales                            $65,200       $102,400   167,600

Variable costs              44,000          80,200      124,200

Contribution margin $21,200          $22,200       43,400

Fixed costs allocated 9,400               14,200     23,600

Operating profit (loss) $11,800           $8,000     16,800

6 0
2 years ago
The objectives of internal control are to a.prevent fraud and promote the social interest of the company b.provide control over
Marina86 [1]

Answer:

d.provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

Explanation:

The purpose of internal controls is to provide reasonable assurance that assets are safeguarded and used for business purposes, financial reports are accurate, and laws and regulations are complied with.

By definition: An internal control is a procedure or policy put in place by management <u>to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behavior.</u>

Summarily, internal controls are put in place as a process to prevent employees from stealing assets or committing fraud.

4 0
2 years ago
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