Answer:
B. they involve the use of expert judgement do develop forecasts
Explanation:
A time series is a series of events that is spaced equally in time. It is a statistical technique used to identify a time based trend of events and them make forecast using data from the trend/time series.
Time series requires certain processes which include discovering of a pattern in the historical data, projection of the historical data into the future, assumption that the pattern will remain the same(constant) as the time goes by, etc.
In time series method, since historical data is the point of reference for making a forecast, no expert judgements is required to develop forecasts. This is because once the data of the series from the past has been taken and a trend/pattern has been identified, that becomes the basis for future forecasts.
Cheers.
The forces underlying supply and demand interact to determine the market price.
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Explanation:</u></h3>
The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.
The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.
Answer:
$450 per ton.
Explanation:
The government has allowed to pollute 1600 ton of emission. The business has secured license from the government to run its business activities and drain the polluted waste in the sea. The total pollution allowed is 1600 tons and the cost of securing the license is $720,000. The cost per ton of emission would be $450.
Answer:
COGS= $598,020
Explanation:
Giving the following information:
Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.
We need to deduct the inventory used for personal use.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 67,000 + 610,000 - 77,200 - 1,780
COGS= $598,020
