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Pavlova-9 [17]
3 years ago
9

The distribution of the amount of a customer’s purchase at a convenience store is approximately normal, with mean $15.50 and sta

ndard deviation $1.72. Which of the following is closest to the proportion of customer purchase amounts between $14.00 and $16.00 ?
Business
1 answer:
bazaltina [42]3 years ago
4 0

0.42 is the closest to the proportion of customer purchases amounts between $ 14.00 and $ 16.00

<h2>Further Explanation </h2>

Standard deviations are statistical values ​​that are used to determine how the data is distributed in a sample, as well as how close the individual data points are to the mean or average sample value.

A standard deviation of a data set equal to zero indicates that all values ​​in the set are the same. Whereas the greater deviation value indicates that individual data points are far from the average value.

Usually, the standard deviation is used by statisticians or people working in the world to find out if the data samples taken represent the entire population.

Because finding the right data for a population is very difficult to do. Therefore it is necessary to use a sample of data that can represent the entire population making it easier to conduct research or a task.

As an illustration, if someone wants to know the weight of a boy aged 10-12 years in a school, then what needs to be done is to find out the weight of some people and calculate the average and standard deviation. These calculations will know the value that can represent the entire population.

Learn More

Standard deviations

individual data

Details

Grade: High School

Subject: Business

Keyword: deviations, individual, data

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Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating lever
Flura [38]

Question Completion:

Magic Realm, Inc., has developed a new fantasy board game. The company sold 32,400 games last year at a selling price of $67 per game. Fixed expenses associated with the game total $567,000 per year, and variable expenses are $47 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 41,796 games next year (an increase of 9,396 games, or 29%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year?

Answer:

Magic Realm, Inc.

1-a. Contribution-Format Income Statement

For the last year ended December 31

Sales revenue          $2,170,000 (32,400 * $67)

Variable costs            1,522,800 (32,400 * $47)

Contribution               $647,200 (32,400 * $20)

Fixed expenses           567,000

Net operating income $80,200

1-b. Degree of Operating Leverage = Contribution/Net operating income

= 8.07

The expected percentage increase in net operating income for next year

= 235.3%

Explanation:

a) Data and Calculations:

Last year's figures:

Sales = 32,400 games

Selling price per game = $67

Variable cost per game = $47

Fixed expenses = $567,000 per year

1-a. Contribution-Format Income Statement

For the last year ended December 31

Sales revenue          $2,170,000 (32,400 * $67)

Variable costs            1,522,800 (32,400 * $47)

Contribution               $647,200 (32,400 * $20)

Fixed expenses           567,000

Net operating income $80,200

1-b. Degree of Operating Leverage = Contribution/Net operating income

= $647,200/$80,200 = 8.07

2. Next year:

Sales = 41,796 games

Sales revenue =         $2,800,332 (41,796 * $67)

Variable cost =               1,964,412  (41,796 * $47)

Contribution =              $835,920

Fixed costs =                  567,000

Net operating income $268,920

The expected percentage increase in net operating income for next year

Increase in net operating income = $188,720 ($268,920 - $80,200)

= $188,720/$80,200 * 100 = 235.3%

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3 years ago
Anne, a beautician by profession, owns a salon in the small town of franklin, new jersey. every weekend, she makes it a point to
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Anne is conducting market research by doing a competitive analysis.

Hope this helps! :)
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3 years ago
A company issued 7%, 15-year bonds with a par value of $480,000 that pay interest semi-annually. The current market rate is 7%.
saul85 [17]
Im not 100% sure but i think the answer is B
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3 years ago
The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that a
Anika [276]

Answer:

$8,800 favourable

Explanation:

The computation of direct material quantity variance is seen below;

= Standard price × ( Standard quantity - Actual quantity)

= $4 × [(2 gallons × 7,200 units) - 12,200 gallons)

= $4 (14,400 gallons - 12,200 gallons)

= $4 × 2,200 gallons

= $8,800 favorable

Therefore, the direct materials quantity variance for last month is $8,800 favourable

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What is a factor that increases the volatility of demand in industrial markets? Multiple Choice Professional buyers in the indus
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Answer:

Derived demand accelerates changes in markets.

Explanation:

Derived demand can be defined as the way in which the demand for a good or service tend to result from the demand for the related good or service and this occured when their is the demand for either good that are tangible or intangible goods where a market exists for both related goods and services.

In another word Derived demand occured in a situation where the demand for one good or service happens because of the want for another good or service Example is increase in the need for Shoes material or equipment because of the increase in the need for Shoes

because the factor of production by a company is dependent on the demand by consumers for the product produced by that company which is why the transition to become demand-driven is slowly occurring in many industries.

Hence, The factor that increases the volatility of demand in industrial markets is "Derived demand accelerates changes in markets"

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3 years ago
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