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Evgen [1.6K]
3 years ago
11

J.D. Power and Associates surveys new automobile owners to learn about the quality of recently purchased vehicles. The following

questions were asked in the J.D. Power Initial Quality Survey, May 2012?
a. Did you purchase or lease the vehicle?
b. What price did you pay?
c. What is the overall attractiveness of your vehicle's exterior? (Unacceptable, Average,
Outstanding, or Truly Exceptional)
d. What is your average miles-per-gallon?
e. What is your overall rating of your new vehicle? (l- to 10-point scale with 1 Unacceptable and 10 Truly Exceptional)
Comment on whether each question provides categorical or quantitative data.
Business
1 answer:
lorasvet [3.4K]3 years ago
5 0

Answer:

a. Did you purchase or lease the vehicle?  CATEGORICAL DATA

b. What price did you pay?  QUANTITATIVE DATA

c. What is the overall attractiveness of your vehicle's exterior? (Unacceptable, Average,  Outstanding, or Truly Exceptional)  CATEGORICAL DATA

d. What is your average miles-per-gallon?  QUANTITATIVE DATA

e. What is your overall rating of your new vehicle? (l- to 10-point scale with 1 Unacceptable and 10 Truly Exceptional) QUANTITATIVE DATA

Explanation:

Quantitative data can be measured in numbers, e.g. 20 miles per gallon. While categorical data refers to non-numerical responses, e.g. higher quality, better looks, and is generally obtained by choosing one response from a group of available answers.

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3 years ago
Cost of Goods Sold account is debited and Finished Goods Inventory is credited for A) purchase of goods on account. B) the sale
Firlakuza [10]

Answer:

B) the sale of goods to a customer.

Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

For example, suppose a company sells $1,000 worth of goods to a customer, and the sales price is $1,200. The customer pays by cash the full value of the goods. The journal entry would be:

Account                                    Debit           Credit

Cash                                         $1,200

Sales Revenue                                             $1,200

Cost of Goods Sold                $1,000

Finished Goods Inventory                           $1,000

7 0
3 years ago
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3 years ago
a firm's supply curve is upscoping bca. expansion of production necessitates the use of qualitatively inferior inputsb. mass pro
givi [52]

Answer:

d. beyond some point, the production costs of additional units of output will rise

Explanation:

To answer this question you need to know the concept of marginal productivity. This concept is associated with input productivity and aims to explain how many inputs are needed to produce one more unit of output. Firms seek to produce more units with fewer inputs. Thus, the ideal is for marginal productivity to be increasing. This can happen over time as production increases. However, at some point marginal productivity will decrease and this will increase production costs if the firm does not stop producing.

To be clear, follow an example. Imagine that a pizza parlor uses two employees to produce 5 pizzas per hour. Now imagine that the pizza factory is experiencing increased demand for pizza and hiring more an employee. Now the pizzeria has hired 1 more employee and produces 10 pizzas. Note that hiring 1 employee increased the total productivity of the pizzeria. Previously 5 pizzas were produced by 2 employees, an average of 2.5 pizzas per employee. After hiring the third employee, this production increased to 3.3 pizzas per employee. Now imagine that the pizzeria hires 3 more employees and produces only 14 pizzas, an average of 2.3 pizzas per employee. In this case, productivity decreased due to structural factors, such as the number of ovens and the size of the pizzeria. Therefore, in the long run, production costs tend to increase when firms increase production greatly.

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3 years ago
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Read 2 more answers
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