Describe the difference between an idea and a business opportunity.

Some bureaucracies are intended to promote, serve, or represent a particular interest. what is the general term for this type of

Hatshy [7]

The general term for these sort of groups would be organizations, clubs, or parties. In relation to governmental operations they would be referred to as political parties.

3 0

4 years ago

Read 2 more answers

For which of the following random variables would the use of a Normal distribution as a model be a clear error?

Zinaida [17]

Answer:

A. The number of houses that an individual owns

Explanation:

The use of normal distribution in option A would produce an error. That is the number of houses individuals own.

We know that people can own 1 house or more than 1 house or no house at all. But a person can never be said to have less than 0 houses.

Option a is going to be skewed positively. Using Normal distribution would give us an error.

8 0

3 years ago

Assume that the price elasticity of demand for movie theatres is -.85 during the evening shows but for afternoon shows the price

geniusboy [140]

Answer:

The correct answer is option B.

Explanation:

A price elasticity of demand is always negative for normal goods. It indicates that the price increase causes demand to fall.

The price elasticity less than 1 means demand is less elastic or inelastic. In other words, a change in price will lead to a smaller change in demand.

Similarly, a price elasticity greater than 1 means demand is highly elastic. So a change in price will lead to a greater change in demand.

Since, afternoon shows have less elastic or inelastic demand, the theatre should charge higher price for them.

While, the evening shows are highly elastic so the theatre should charge lower price.

In this way theatre can maximize total revenue.

4 0

3 years ago

In the workplace, racial discrimination is a very serious issue. Consider a company in which 20% of the employees are African-Am

Tema [17]

Answer:

a) It is expected that 8 African-Americans get promotions.

b) There is a 8.6% probability that 5 African-Americans get promotions.

c) There is a 16.2% probability that at five or less African-Americans get promotions.

d) The company may be accused of racial discrimination because the ammount of promotions given to African-Americans is much less than expected if there were no discrimination. The expected value, if there is no discrimination, of having more than 5 promotions for African American employees is 84%.

Explanation:

The question is incomplete.

Complete question:

In the workplace, racial discrimination is a very serious issue. Consider a company in which 20% of the employees are African-American. At the end of the year, promotions are awarded to a group of employees. Out of the 40 promotions awarded, five are African-American. Given that the awarding follows the binomial distribution, B(40,.2).

a) How many African-Americans would you expect to get promotions?

b) What is the probability that five African-Americans receive promotions?

c) What is the probability that five or fewer African-Americans receive promotions?

d) Do you think the company is suspect of racial discrimination? Explain your thinking.

a) As this situation can be modeled by a binomial distribution B(40,0.2), the expected number of African-Americans that get promotions can be calculated as the expected value of the binomial distribution:

$X\sim B(40,0.2)\\\\E(X)=np=40*0.2=8$

It is expected that 8 African-Americans get promotions.

b) Accordingly to the binomial distribution, we have:

$P(X=5)=\frac{40!}{5!35!}*(0.2)^5*(0.8)^{35}=658008*0.00032*0.0004= 0.086$

There is a 8.6% probability that 5 African-Americans get promotions.

c) We have to calculate the probabilities for X=0,1,2,3,4 and 5.

$P(X\leq5)=P(X=0)+P(X=1)+P(X=2)+P(X=3)+P(X=4)+P(X=5)\\\\\\P(X=0)=\frac{40!}{0!40!}*0.2^0*0.8^{40}=1*1*0.00013=0\\\\P(X=1)=\frac{40!}{1!39!}*0.2^1*0.8^{39}=40*0.2*0.00017=0.001\\\\P(X=2)=\frac{40!}{2!38!}*0.2^2*0.8^{38}=780*0.04*0.00021=0.007\\\\P(X=3)=\frac{40!}{3!37!}*0.2^3*0.8^{37}=9880*0.008*0.00026=0.021\\\\P(X=4)=\frac{40!}{4!36!}*0.2^4*0.8^{36}=91390*0.0016*0.00032=0.047\\\\P(X=5)=\frac{40!}{5!35!}*0.2^5*0.8^{35}=658008*0.00032*0.00041=0.086$

$P(X\leq5)=P(X=0)+P(X=1)+P(X=2)+P(X=3)+P(X=4)+P(X=5)\\\\P(X\leq5)=0+0.001+0.007+0.021+0.047+0.086=0.162$

There is a 16.2% probability that at five or less African-Americans get promotions.

d) The company may be accused of racial discrimination because the ammount of promotions given to African-Americans is much less than expected if there were no discrimination. The expected value, if there is no discrimination, of having more than 5 promotions for African American employees is 84%.

3 0

3 years ago

Book Values versus Market Values In preparing a balance sheet, why do you think standard accounting practice focuses on historic

Pachacha [2.7K]

Answer:

Historical costs is objectively and precisely measured, whereas market values can be difficult to estimate, and different analysts would come up with different

values.

Explanation:

In preparing a balance sheet it is customary for a company to value the assets and other items based on historical costs rather than market values.

For example if an asset is purchased at $20,000, this value will reflect in the balance sheet in subsequent years. Or future calculation will be based on this.

Let's say yearly depreciation is $1,000 then after on year the value will be $19,000, after two years $18,000 and so on.

This is more object than market value which varies at any one time.

Market value for an item will vary depending on location and the market.

6 0

3 years ago