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ANTONII [103]
2 years ago
5

Twenty five vendors are selling at an event, and an attendance of 80,000 is projected. It is anticipated that 70% of attendees w

ill make purchases. Assuming that each vendor has an equal chance of having an attendee purchase their products, what is the average number of customers each will serve?
Business
1 answer:
andriy [413]2 years ago
6 0

Answer:

2,240

Explanation:

The total number of projected attendance is 80,000. If 705 will make purchases. It means 70% of 80,000 will buy.

=70/100 x 80,000

=0.7 x 80,000

=56,000 attendants will buy

If they are 25 vendors, each vendor will sell to

=56,000/25

=2,240

on average, each vendor will sell to 2,240 customers

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Expectancy theory

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For which market structure do economists have the least precise model of price​ determination?
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<span>The market structure for which economists have the least precise model of price​ determination is oligopoly.

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Suppose selected comparative statement data for the giant bookseller Barnes &amp; Noble are presented here. All balance sheet da
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Answer:

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The Goodyear Tire &amp; Rubber Company's December 31, 2016, financial statements reported the following (in millions). Cash Dece
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A. $1,476 million.

Explanation:

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Cash at beginning of the year + $1,504 -$973 -$875 = $1132

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Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay the remainder next mont
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Answer:

B. Cash 1,300  Dr, Accounts Receivable 1,200 Dr, Consulting Revenue 2,500 Cr

Explanation:

                             Kincaid Company

                                  Journal Entry

Date      Description                             Debit       Credit

              Cash                                      $1,300

                     <em>Accounts Receivable                      $1,200</em>

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3 years ago
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