Answer:
The correct answer is c. firm-level demand
Explanation:
Demand can be defined as the quantity of goods and services that are acquired by consumers at different prices, at a specific unit of time (one day, one month, one year, etc.) since without a temporary parameter we cannot say if a Demand amount grows or decreases.
When a person chooses to buy some good, to meet his needs, he does so consciously, based on his criteria both objective and subjective; These conditions are modified according to the educational and socioeconomic level, sex, age, among other factors.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66.
Explanation:
In statistics, a confidence interval is the probability that the parameter of a population lies between two set of values when a random sample of the population is drawn for a specific percentage of times. This means that the confidence interval is formed about the whole population not the sample from which it is calculated.
The probabilities of a confidence interval can take any number, but 95% and 99% confidence level that are usually used.
It should be noted that, for example, 95% confidence level implies that there is a 95% chance that the true mean of the population lies within the calculated confidence interval.
Therefore, the statement which gives a valid interpretation of the interval in the question is the first one which states that "the store manager is 95% confident that the average amount spent by all customers is between $ 31.84 and $ 38.66."
I wish you the best.
Answer
D) compared to the EOQ, the maximum inventory would be approx 30% lower.
Explanation
EOQ = √(2*Co*D/Cc)
EPQ= √ (2*Co*D/(Cc*(1-x)))
x=D/P
D = demand rate
P =production rate
Co=ordering cost
Cc=holding cost
1) The production rate would be about double the usage rate.
hence, P = 2D
x=D/2D=0.5
EPQ= √ (2*Co*D/((1-0.5)*Cc))
EPQ= √ (2*Co*D/0.5Cc)
EPQ=√ (1/0.5)*EOQ
EPQ=√ (2)*EOQ
EPQ=1.41*EOQ
Hence, EPQ is around 40% larger than EOQ.
Ans.: c) EPQ will be approximately 40% larger than the EOQ.
2) Compared to the EOQ, the maximum inventory would be
maximum inventory = Q
EPQ = 1.41 EOQ
EPQ = 1.41*Q
Q=EPQ/1.41
Q=0.71 EPQ
Hence, compared to EOQ, maximum inventory in EPQ is only 70% of that in EOQ model.
<span>sole proprietorship. With careful itemization of business expenses, they will receive a moderate tax refund. Receipt retention and careful bookkeeping is essential. An accounting software program to track expenses and income would be quite helpful. It is recommended that they hire a tax firm that specializes in small business returns to minimize tax due or recoup the full amount due to them.</span>
