All categories

3 years ago

Which of the following characteristics implies that a quantitative model is probabilistic in nature?

Business

1 answer:

Nesterboy [21]3 years ago

7 0

Answer:

(a)The fact that it uses random variables

Explanation:

Quantitative models can be regarded as a compact representations in which

single differential or difference equation may be used in describing performance of the system as regards large set of input functions as well as initial states.Quantitative data can be measured and also can be expressed using numbers and can also be counted. Quantitative methods is based on objective measurements as well as statistical and mathematical, it could be base on numerical analysis of data which is been collected through polls or surveys. It should be noted that one of the characteristics that implies that a quantitative model is probabilistic in nature is the fact that it uses random variables

You might be interested in

Direct labor cost is classified as: Conversion cost Prime Cost A) Yes Yes B) No No C) No Yes D) Yes No Choice A Choice B Choice

PtichkaEL [24]

Answer:

A) Yes Yes

Explanation:

The prime cost is the cost that includes both the direct material cost and the direct labor cost

In mathematically,

Prime cost = Direct material cost + Direct labor cost

While the conversion cost is the cost that includes the direct labor cost and the manufacturing overhead cost

In mathematically,

Conversion cost = Direct labor cost + Manufacturing overhead cost

4 0

3 years ago

CWN Company uses a job order costing system and last period incurred $70,000 of actual overhead and $100,000 of direct labor. CW

denis23 [38]

Answer:

85%

Explanation:

With regards to the above information, the predetermined over head is calculated as seen below.

Predetermined overhead = [(Estimated overhead / Expected labor cost) × 100]

Estimated overhead = $85,000

Expected labor cost = $100,000

Then,

Predetermined overhead = [($85,000 / $100,000) × 100]

Predetermined overhead = 0.85 × 100

Predetermined overhead = 85%

Therefore, the predetermined overhead rate for the next period should be 85%

7 0

3 years ago

Which of the following are included in M2?

alexira [117]

Answer:

c. I , III, and IV

Explanation:

M1 and M2 are amongst the ways of measuring money supply of an economy.

M1 basically includes physical currency and coins, demand deposits, traveler's checks, and other checkable deposits.

M2 is regarded as a broader classification than M1 since it includes assets that are highly liquid but are not cash.

M2 includes M1 plus savings deposits, money market deposits, certificate of deposits less than $100,000 and money market mutual fund balances which can be readily redeemed.

Unlike the types of financial assets defined as money that are included in money supply, credit card transactions create loans that the borrower must pay later and hence are excluded from M2.

Hence M2 will include $5,000 certificate of deposits, $ 1000 in traveler's checks and $ 500 in piggy bank i.e option (c)

5 0

3 years ago

What is a standard mark up

Zepler [3.9K]

Answer:Standard markup is a fast and easy method to figure out how much you should charge for your goods or services. Standard markup boils down to one simple formula: actual cost + markup = price. For example, it might cost you $3 in ingredients to make a sandwich.

Explanation:

6 0

3 years ago

Read 2 more answers

Lagle Corporation has provided the following information:

mezya [45]

Answer:

b.$20,550

Explanation:

The period costs are those costs which include costs for a particular period. The calculation for these costs differ under the two methods absorption and variable. Under absorption Costing the Period costs include Variable selling and administrative + Fixed selling and administrative expenses.

Lagle Corporation

Absorption Costing

Direct materials $ 4.75 * 7000= $ 33250

Direct labor $ 3.70 * 7000= $ 25900

Variable manufacturing overhead $ 1.45 * 7000= $ 10150

Fixed manufacturing overhead $ 18,200

Total Product costs $ 87,500

Sales commissions $ 1.70 * 7000=$ 11900

Variable administrative expense $ 0.55 * 7000= $ 3850

Fixed selling and administrative expense $ 4,800

Total Period Costs $ 20550

Mostly Absorption costing is used for daily basis. Therefore Choice b is the best option.

Under variable costing the Period costs include Fixed manufacturing overheads + Fixed selling and administrative expenses.

Lagle Corporation

Variable Costing

Direct materials $ 4.75 * 7000= $ 33250

Direct labor $ 3.70 * 7000= $ 25900

Variable manufacturing overhead $ 1.45 * 7000= $ 10150

Sales commissions $ 1.70 * 7000=$ 11900

Variable administrative expense $ 0.55 * 7000= $ 3850

Total Product costs $ 85,050

Fixed selling and administrative expense $ 4,800

Fixed manufacturing overhead $ 18,200

Total Period Costs $ 23000

7 0

4 years ago