Federal reserve notes are the marks on money like the serial number, U.S emblems, and the signatures. They show that the money is an American Dollar.
The four dimensions of statistical thinking, according to Wild & Pfannkuch are an investigative cycle, styles of thinking, an interrogative cycle, and dispositions. The four dimensions are simultaneously active within the thinker and incorporate both general and specific statistical thinking tendencies. Describe the four statistical reasoning/thinking dimensions that are used in statistical investigation.
* Give and describe a concrete example of how the four-step method was applied in a managerial decision-making process. Please apply the four dimensions of statistical reasoning from Wild and Pfankuch .
* Why is having a representative sample rather than a random sample not more crucial for drawing accurate conclusions about a diverse population?
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Answer:
Slope = -1
Explanation:
Demand is buyers ability & willingness to buy at a price, time.
Demand Curve is graphical representation of quantity demanded at various prices at y axis, demand at x axis.
Slope = Change in Y i.e ∆Y / Change in X i.e ∆X
'Slope of Demand Curve' is a varied version of 'Price Elasticity of Demand' i.e quantity demanded responsiveness to change in price. Former shows relative change in quantity demanded over a change in price & latter shows change in price for a given change in quantity demanded.
Demand Curve Price at Y axis, Quantity at Axis, Slope= ∆Y/∆X becomes
= ∆P/∆Q. As per given details, ∆P/∆Q = (9-10)/(5-4) = -1/1 = -1
Answer:
Total pounds= 19,880
Explanation:
Giving the following information:
Production= 470 boxes
Each box of tile requires 44 pounds of clay mix
Beginning inventory= 4,700 pounds
Desired ending inventory= 3,900 pounds
<u>To calculate the direct material purchase, we need to use the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
<u>Direct material budget (in pounds):</u>
Production= 470*44= 20,680
Desired ending inventory= 3,900
Beginning inventory= (4,700)
Total pounds= 19,880
