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A study finds that during blizzards, online sales are highly associated with the number of snow plows on the road; the more plow

Aloiza [94]

Answer:

a. The director is wrong: the lurking variable here is the severity of the blizzard. A more severe blizzard calls for more plows and keeps people at home, where they are more likely to make online purchases.

Explanation:

The director is correlating the number of snow plows on the road with the amount of online purchases - the correlation is high, but it doesn't mean that the increase on online purchases is caused by the number of snow plows on the road.

The question is: why would the number of snow plows on the road increase in the first place? Snow plows are sent out according to the amount of snow that has fallen, which means that the lurking variable that explains the increase in the number of snow plows and the amount of online purchases, is the severity of the blizzard in terms of how much snow has fallen. When the weather outside is too harsh or dangerous for people to go out, then it is most likely that they prefer online purchases. If the director were to analyze the correlation between the severity of the blizzard and the amount of online purchases, he would find a high correlation as well and in this case it would be the variable that actually explains the behavior of the consumers.

Remember that a lurking variable is the non-controlled variable that affects both the dependent and independent variables. In this case, there is nothing that the director can do about the severity of the blizzard besides perhaps increasing the stock whenever the severe blizzard season rolls around.

5 0

4 years ago

Al's Donuts produces about 600 dozen doughnuts daily. If flour prices increase 20 percent

Sergeeva-Olga [200]

Answer:

(D) marginal cost, the average variable cost, and the average total cost will shift up.

Explanation:

Given the nature of business of AI's Donuts, flour prices is part of the variable cost of the business as it will change will any change in the output of the firm.

An increase in flour prices, a variable cost, will have the following effect on the following costs.

Average variable cost will increase since flour is a variable cost.

Average total cost will increase since average total cost = average variable cost + average fixed cost.

Marginal cost will increase since marginal cost = (change in total cost)/(change in quantity). Marginal cost will thus increase since total cost will increase.

Average fixed cost will however remain unchanged since only variable cost will increase.

Therefore, option (D) is correct as marginal cost, the average variable cost, and the average total cost will shift up.

4 0

3 years ago

Which of the following statement(s) is(are) true regarding the variance of a portfolio of two risky securities? I) The higher th

andre [41]

Answer:

The degree to which the portfolio variance is reduced depends on the degree of correlation between securities is the correct answer.

Explanation:

3 0

3 years ago

How to properly get rid of a ouija board bought from a yard sale?

irina [24]

Just toss it out and Rebuke it in Jesus name

4 0

4 years ago

Read 2 more answers

The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credi

mariarad [96]

Answer:

Income Statment:

Trucking fees earned 130,000

Depreciation expense—Trucks (23,500)

Salaries expense (61,000)

Office supplies expense (8,000)

Repairs expense—Trucks (12,000)

Net Income 25,500

Retained Earnings

Beginning 155,000

Net Income 25,500

Dividends (20,000)

Ending 160,500

Balance Sheet:

Cash 8,000 Accounts payable 12,000

Accounts receivable 17,500 Interest payable 4,000

Office supplies 3,000 Total current liabilities 16,000

Total Current Assets: 28,500 Long-term 53,000

Trucks (net) 136,000 Total liabilities 69,000

Land 85,000 Common Stock 20,000

Total non-current 221,000 Retained Earnings 160,500

Total Equity 180,500

Total Assets 249,500 Liabilities + Equity 249,500

Explanation:

For the income statement we list the revenue and then, we subtract all the expenses account.

Retained Earnings will be beginning + income - dividends. This value will go into the balance sheet.

For the balance sheet, we display assets into both categories:

current: who are going to be converted into cash within a year.

and non-current like the truck and the land which are going to be in the company's book for more than a year before converting into cash.

Liabilities and equity will be in the other side and their sum should match the total assets.

6 0

3 years ago