I think it is False but I don't think so

your average total cost is $40; the price you recieve for the good is 12. Should you keep on producing the good?.

Zepler [3.9K]

Answer:

No, not at all. You should not go for producing that good.

Explanation:

A company do business in order to earn profits. A company earns profits by selling the product, good or service they produce or provide to the consumers. But if the cost of producing the goods is more than the profits earned due to that product, then there is no use of doing business. In order to earn profits, the cost of the product produced must be less than the price of that product. The price of the product should be set at a level which can cover all the costs incurred to produce that product. So in this question, if the price is $12 and cost is $40, then there is no need to product that product any more because this product is only incurring loss to the company.

7 0

2 years ago

The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.33 and has

zepelin [54]

Answer:

$z=\frac{5.50-6.25}{\frac{2.18}{\sqrt{27}}}=-1.788$

$p_v =P(Z$

If we compare the p value and the significance level given $\alpha=0.01$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can't conclude that the true mean is significantly lower than 6.25 at 1% of signficance.

Explanation:

Data given and notation

$\bar X=5.60$ represent the sample mean

$\sigma=2.18$ represent the sample population deviation

$n=27$ sample size

$\mu_o =6.25$ represent the value that we want to test

$\alpha=0.01$ represent the significance level for the hypothesis test.

t would represent the statistic (variable of interest)

$p_v$ represent the p value for the test (variable of interest)

State the null and alternative hypotheses.

We need to conduct a hypothesis in order to check if the mean is less than 6.25, the system of hypothesis would be:

Null hypothesis: $\mu \geq 6.25$

Alternative hypothesis: $\mu < 6.25$

If we analyze the size for the sample is < 30 but we know the population deviation so is better apply a z test to compare the actual mean to the reference value, and the statistic is given by:

$z=\frac{\bar X-\mu_o}{\frac{\sigma}{\sqrt{n}}}$ (1)

z-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".

Calculate the statistic

We can replace in formula (1) the info given like this:

$z=\frac{5.50-6.25}{\frac{2.18}{\sqrt{27}}}=-1.788$

P-value

Since is a one side test the p value would be:

$p_v =P(Z$

Conclusion

If we compare the p value and the significance level given $\alpha=0.01$ we see that $p_v>\alpha$ so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can't conclude that the true mean is significantly lower than 6.25 at 1% of signficance.

4 0

3 years ago

At year end, CurlZ, Inc.'s inventory consists of 270 bottles of CleanZ at $2 per bottle and 170 boxes of DyeZ at $14 per box. Ma

Sati [7]

Answer:

$2,580

Explanation:

The computation of inventory is shown below:-

The inventory is to be value through lower cost and market value

Inventory items Cost of Market value of lower cost and

inventories inventories market value

Bottles of Clean Z $540 $621 $540

(270 × $2) (270 × $2.30)

Boxes of Dye Z $2,380 $2,040 $2,040

(170 × $14) (170 × $12)

Total $2,580

5 0

3 years ago

Which of Michael Porter's generic strategies did Renault primarily pursue after the economic crisis?

icang [17]

Answer: Overall cost leadership

Explanation:

Michael Porter's generic strategy that Renault primarily pursued after the economic crisis was overall cost leadership.

This can be noticed when Renault had to reduce its cost and hance started producing cars that were low cost and has result led to sm increase in the profit that was made by Renault.

5 0

3 years ago

15. Which NIMS Management Characteristic helps to eliminate confusion caused by multiple, conflicting directives?

Kipish [7]

Chain of Command and Unity of Command are the NIMS Management Characteristic that helps to eliminate confusion caused by multiple, conflicting directives.

<u>Explanation:</u>

In an organisation of incident management there is an order for the command and it is organised as a hierarchy. This hierarchy is called as Chain of command. When one person shares all the reports and other view points to one supervisor allocated for him it is called as Unity of Command.

These two Unity of Command and Chain of commands plays a major role in the clarification of relation for the purpose of reporting. They are also helpful in those situations where there is a need for the elimination of confusions that are the results of instructions that are conflicting with each other. These commands helps all the managers to have a good control of the sub ordinates who work under them.

8 0

3 years ago