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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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Substitutes have a(n): Please choose the correct answer from the following choices, and then select the submit answer button. in
hjlf

Answer: positive cross elasticity of demand.

   

Explanation: In simple words, cross elasticity refers to the degree of change in the demand of a good with respect to change in the price of another goods.

In case of substitute goods, one good can easily be used in the place of another good. Thus, if the price of one good increases the demand for its substitute good also increases.

Hence from the above we can conclude that substitute goods have positive cross elasticity.

3 0
3 years ago
Widden Company, which sells electric razors, had $320,000 of cost of goods sold during the month of June. The company projects a
butalik [34]

Answer:

Part A. The amount of purchases budgeted for July is calculated below:

Amount of purchases = Cost of goods sold + Closing inventory - Opening inventory  

Amount of purchases = ($320,000 x 1.09) + $34,000 - $33,000

Amount of purchases = $348,800 + $34,000 — $33,000

Amount of purchases = $349,800

Therefore, the amount of purchases budgeted for July is $349,800.

Part B. The amount of cash payments budgeted for inventory purchases in July is calculated below:

Amount of cash paid in July = Opening accounts receivable + 75% of purchases in July

Amount of cash paid in July = $37,000 + ($349,800 × 0.75)

Amount of cash paid in July = $37,000 + $262,350

Amount of cash paid in July = $299,350

Therefore, the amount of cash paid in July is $299,350.

8 0
3 years ago
When there is less money in
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Answer:

the correct answer is

D all of the above

8 0
3 years ago
Illinois Company is attempting to develop the cost function for repair costs. The following past data are available: Machine Hou
Harlamova29_29 [7]

Answer:

$480

Explanation:

Data provided in the question:

Machine              Hours Repair Costs

2,400                       $6,385

1,200                        $3,480

2,000                       $5,285

3,400                       $8,980

Now,

                       Machine              Hours Repair Costs

Highest             3,400                       $8,980

Lowest              1,200                        $3,480

Difference        2,200                       $5,500

Unit variable cost =  $5,500 ÷ 2,200

= $2.5

Total cost at high level = $8,980

Machine hours highest level = 3,400

Also,

Total cost at high level = Fixed cost + Variable cost at highest level

or

$8,980 = Fixed cost + [ $2.5 × 3,400 ]

or

Fixed cost = $8,980 -  [ $2.5 × 3,400 ]

= $8,980 - $8,500

= $480

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3 years ago
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