Answer:
0.4 or 40%
Explanation:
The formula for Contribution Margin Ratio is:
[TS - TVC] / TS
Where TS = Total Sales
TVC = Total Variable Cost
Applying the formula,
[5,000 - 3,000] / 5,000 = 2000/5000 = 0.4
Turning this value to a percentage, 0.4 × 100 = 40%
The interpretation of this is that for every item sold, 40% of the sales price is available to cover fixed costs.
Remember: The addition of fixed cost to variable cost = total cost
The opportunity cost of studying economics for one hour in this context would be: <span>Watching two half-hour TV sitcoms
Opportunity cost refers to something that you have to sacrifice everytime one alternative is chosen. When the time is spent to study economics, the time available for you to watch tv will be gone.</span>
Answer:
Every Business is generally affected by the economic, social, legal, technological and political factors. ... Business environment includes those forces, factors and institutions that are beyond the control of individual business organisations and management but affect the business enterprise.
It was made known in this paper that Nigeria's business environment despite its prospect, is characterized by challenges of various kind, which range from lack of infrastructure such as poor electricity supply, poor road, network e.t.c., Insecurity, multiple tax system, inadequate financial service
Results are heavily weighted toward the Baldrige criterion. This is further explained below.
<h3>What
are Baldrige's criteria?</h3>
Generally, "Integrated management framework" refers to a set of tools used to analyze and improve business operations.
In conclusion, Sampling acceptance rates for winners are heavily weighted toward those that meet the Baldrige standards.
Read more about Baldrige's criteria
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Answer:
The expected gain per policy for the insurance company is $80
Explanation:
According to the given data we have the following:
Outcome death No death
Net gain $-9900 $ 100
Probability 0.002 0.998
Therefore, in order to calculate the expected gain per policy for the insurance company we would have to calculate the following formula:
Expected Gain = (-$9900)*(0.002)+($100)*(0.998) = -19.8+99.8= 80
Expected Gain=-$19.8+$99.8=
Expected Gain=$80
The expected gain per policy for the insurance company is $80
