Answer:
The correct answer is B) Buyer Intentions Method also known as <em>Consumers' Buyer Plan.</em>
Explanation:
This plan involves approaching customers to elicit information from them about their likelihood to make purchases during a particular period. It is most effective when the number of customers is small relative to the ability of the business to reach out to them.
A sales forecast based on this method has several demerits such as:
- The customers may change their minds anytime without consultation with the business
- It is an uneconomical way to do a forecast when the client base is large
- Predicting sales over the long-run using this method is statistically impossible
It has a few merits in that the information is obtained first hand from the consumers or buyer and the real intentions of the buyers at the time of collecting information is known.
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Answer: You should wait until the road is straight and completely clear of cars, obstructions, animals, etc before passing.
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Explanation:
Answer:
Mean = 60
Median = 56
Mode = 53
70th percentile = 62
Explanation:
We have the following salaries in thousand of dollars:
A 53
B 44
C 68
D 47
E 62
F 59
G 53
H 94
The sample size is n=8.
a) The mean of this sample is:
b) The median, as its an even size sample, is the average between the middlemost salaries:
c) The mode is the the value that appears the most in the sample.
In this case, the mode is 53, that appears twice.
d) The 70th percentile divides the sample with 70% of the values below and 30% above the percentile.
In this case, the 70th percentile lies in the 6th place of the sorted sample.
The sixth place for the sorted sample [44, 47, 53, 53, 59, 62, 68, 94] is 62.
Answer:
The Beet Juice should be processed further
Explanation:
<em>A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost. </em>
<em>Also note that all cost incurred up to the point of crush are irrelevant to the decision to process further </em>
Product Additional Rev. Further process cost. Net income(loss)
($)
Beet Fiber 40-27 =13 16 (3) See notes
Beet Juice 100- 43 = 57 28 29
The beet fiber should not be process further while the beet juice should be be processed further into refined sugar . Processing Beet Juice further will generate additional income of $29 per unit while Beet Fiber would generate a loss of $(3)
Notes
The net income(loss) is the difference between the additional revenue from further processing and the further processing cost. The Net income(loss) for the two products is computed as follows:
Beet Fiber =13- 16 = (3)
Beet Juice = 57 - 28 = 29