A shop that sells one type of thing
The correct answer is - allows managers to use the normal distribution as the basis for building some control charts.
<u>Explanation:</u>
It is the theorem that allows inference from a random sample. It says that:
• The sample mean will likely be towards the population mean within a margin of error
• The margin of error is a multiple of the standard error, which is the standard deviation divided by the square root of the sample size. The multiple is determined by the degree of statistical confidence you’re looking for, and the normal deviate corresponding to that — 1.65 for 90% confidence, 1.96 for 95% confidence, etc.
Answer:
orientation is the correct answer.
Explanation:
Answer:
Contribution margin= $169
Explanation:
<u>First, we need to calculate the total unitary variable cost:</u>
total unitary variable cost= direct material + direct labor + variable overhead + variable selling expense
total unitary variable cost= 38 + 1 + 8 + 4
total unitary variable cost= $51
<u>Now, the contribution margin:</u>
Contribution margin= 220 - 51
Contribution margin= $169
Answer:
The market for lettuce would be impacted in three ways: labor supply would increase, meaning that lettuce producers can now hire more workers for a lower price.
This cheaper labor would likely increase supply, because more producers would try to enter the market to take advantage of the cheap workers.
Finally, the lower labor costs, and the higer supply, would reduce the price of lettuce, meaning that consumers will be able to buy more lettuce for less money.
