luzadis company makes furniture using the latest automated technology, total manufacturing is Machine-hours 60,000, and Manufacturing overhead costs $ 850,000.
Define automated technology.
Automation refers to technological applications where the amount of human input is reduced. This encompasses personal applications including home automation, business process automation (BPA), and IT automation. All procedures and tools that allow factories and systems to run automatically fall under the category of automation technology. These consist of tools, equipment, and other tools. Minimal human intervention is used. Examples of fixed automation include automatic assembly lines, specific chemical processes, and machining transfer lines used in the automotive sector. A type of automation for batch production is programmable automation. Automation is generally understood to be a technology that involves carrying out a process using programmed commands along with automatic feedback control to assure the proper execution of the instructions.
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From the perspective of managing a budget, what term is used to describe the difference between the amount of money that was budgeted and the actual amount of money spent?.
Budget variance is a term used to describe the discrepancy between the amount of money allocated and the actual amount spent when managing a budget.
A budget variance is a recurring metric used by organisations, businesses, or individuals to express the discrepancy between budgeted and actual numbers for a certain accounting category. Positive variations or gains are referred to as favourable budget variances, whereas negative deviations, which represent losses or shortages, are referred to as unfavourable budget variances. Forecasters' imperfect ability to predict future expenditures and revenues leads to budget variations.
The sum of money spent to purchase a good or asset is referred to as the actual amount in accounting. This could be the price of the product in the past, present, or future. This is not what the management has budgeted or expected because such prices could also include vendor costs for delivery, setup, and testing.
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the total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time) is .
The total cost of skipping practice and going to the movies (including the opportunity cost of time) for this assistant coach is equal to $24.
Given the following data:
Admission fee = $9.
Earnings = $15 per hour.
What is an opportunity cost?An opportunity cost is also referred to as alternative forgone and it can be defined as the value, profit, or benefits that are given up and forfeited by an individual or business firm, in order to choose or acquire something that is deemed most significant at a particular point in time.
How to determine the total cost?The total cost of skipping practice and going to the movies (including the opportunity cost of time) for this assistant coach can be calculated by using this formula:
Total cost = Earnings + Admission fee
Total cost = $15 + $9
Total cost = $24.
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Complete Question:
You work as an assistant coach on the university swim team and earn $15 per hour. One day, you decide to skip the hour-long practice and, instead, go to the movie theater, which has an admission fee of $9. What is the total cost (valued in dollars) of skipping practice and going to the movies (including the opportunity cost of time)?
computech estimates it will need 100,000 chips a year if sales go as expected. but if sales are slow, fewer chips will be needed. this isn’t an issue with supplier 2; its price is the same at any quantity. however, supplier 1’s price per chip will be $1.95 if computech buys less than 90,000 during the year. if computech only needs 84,500 chips, which supplier would be more economical?
We need to make some changes to the spreadsheet in order to find the answer to this query, altering the "number of chips needed" to 84,500.
Then, Supplier 1's "cost per chip" will climb to $1.95, and the price of their order will be $1.95 x 84,500 = $164,775.
Given that the pricing remains the same, the order cost at Supplier 2 will be $1.87 x 84,500 ($158,015).
There will be 845 defective chips at Supplier 1 and 1690 at Supplier 2, and the cost to replace them will be $1690 and $3380, respectively.
There are $8,450 and $6,760 in total cost-connectors, respectively. 2% of $164,775 for Supplier 1 and 5.4% of $158,015 for Supplier 2 equal $3,295.5 and $8,532.81 in total inventory costs, respectively.
For Suppliers 1 and 2, the total shipping expenses are $0.02 x 84,500 ($1,690) and $0.03 x 84,500 ($2,535), respectively.
Following these modifications, Supplier 1's total cost is $179,900.5, whereas Supplier 2's total cost is $179,222.81.
Therefore, Supplier 2 is a superior option because its overall cost is now lower.
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all of the following are ways you can develop a personal brand: preparing a brief speech that describes who you are and what problems your skills can solve, creating an individual tagline that separates you from other candidates, and . group of answer choices showing how you are similar to other job candidates emailing all of your contacts a five-minute multimedia presentation that profiles your skills and experience creating an attractive résumé distributing business cards whenever you have an opportunity
all of the following are ways you can develop a personal brand: preparing a brief speech that describes who you are and what problems your skills can solve, creating an individual tagline that separates you from other candidates and creating an attractive résumé.
(d). creating an attractive résumé.
What is a personal brand?Personal branding is the deliberate and purposeful effort to shape how the public perceives an individual by boosting their reputation, presenting themselves as thought leaders in their field, and setting themselves apart from competitors. The goal is to help the individual progress professionally, expand their network of influence, and make a bigger impact.
Finding your individuality, developing a reputation around the qualities you want to be recognized for, and afterward allowing yourself to be recognized for them are all steps in the process of personal branding. The ultimate aim is to produce something that has a message and can be made money.
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If the moran corp. has an roe of 19 percent and a payout ratio of 27 percent, what is its sustainable growth rate?
We need to calculate the retention ratio to calculate the sustainable growth rate. The retention ratio is:
b = 1 - .27
b = .73
Now we can use the sustainable growth rate equation to get:
Sustainable growth rate = (ROE × b) / [1 - (ROE × b)]
Sustainable growth rate = [.19(.73)] / [1 - .19(.73)]
Sustainable growth rate = 0.2169, or 21.69%
A sustainable growth rate (SGR) is the maximum growth rate a company or social enterprise can sustain without funding growth through additional equity or debt. In other words, it is a fee for growing the business while utilizing internal revenue without borrowing external funds.
What are the components of sustainable growth rate?
Sustainable growth rate is calculated by multiplying an organization's internal retention rate by its return on equity. The system for calculating sustainable growth rates is: Where: Deduction - [ (Net Income - Dividend) / Net Income) ].
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a primary beneficiary has died before the insured in a life insruance policy. a contingent beneficiary
Earnings go to beneficiaries will happen if a primary beneficiary has died before the insured in a life insurance policy.
What is primary beneficiary?The primary beneficiary lives under the uniform simultaneous death act if both the insured and the primary beneficiary die in circumstances where it is impossible to determine who died first, unless otherwise provided in the insurance contract.
Accidental death and disability insurance, as its name suggests, covers such occurrences. Insurance will also cover you even if a car accident results in the loss of limbs, sight, hearing, speech, etc.
Thus, Earnings go to beneficiaries.
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Answer:
they will pay the contingent beneficiary if go to the estate of the insured
Explanation:
A ________ takes data from the data manufacturers, cleans and processes the data, and then stores it.
A data warehouse takes data from the data manufacturers, cleans and processes the data, and then stores it.
What is a data warehouse?An enterprise data warehouse (EDW), also referred to as a data warehouse in computing, is a system for reporting and analysis of data and is regarded as a key element of business intelligence. Data warehouses (DWs) are the central repositories for combined data from one or more different sources. They maintain a single repository for both recent and old data, which is utilized to generate analytical reports for usage by employees across the entire company.
Data from operational systems are transferred and stored in the warehouse (such as marketing or sales). Before being used in the DW for reporting, the data may go via operational data storage and require data cleansing for extra activities to ensure data quality.
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The assumption that in the absence of contrary information a business entity will continue indefinitely is the:__________
The assumption that in the absence of contrary information a business entity will continue indefinitely is the Going concern assumption.
The going situation principle, additionally called continuing problem idea or continuity assumption, method that a business entity will keep performing indefinitely, or at the least for some other twelve months. The idea of going difficulty assumes that a business company might maintain to perform its operations indefinitely for a reasonably long period of time and could not be liquidated inside the foreseeable destiny.
Going challenge is an accounting term for an organization that has the sources had to preserve running indefinitely till it presents evidence to the contrary. The reliability principle ambitions to make certain that all transactions, activities, and enterprise sports supplied in the monetary statements are reliable. records are considered reliable if they can be checked, validated, and reviewed with objective evidence. Going concern assumption assumes that an agency will preserve in operation lengthy sufficient to carry out its current targets and commitments.
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in the market economy, the primary channel through which buyers and sellers communicate with each other is
In the market economy, the primary channel through which buyers and sellers communicate with each other is price.
A market economy is an economic system in which the interactions of a country's individual citizens and businesses guide economic decisions and the pricing of goods and services. There may be some government intervention or central planning, but this term usually refers to a more market-oriented economy in general.
A market economy allows entrepreneurs to pursue profit by producing outputs that are more valuable than the inputs they consume, as well as the freedom to fail and go out of business if they do not.
Economists generally agree that market-oriented economies produce better economic outcomes, but they disagree on the exact balance of markets and central planning that is best for a country's long-term prosperity.
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a stock quote indicates a stock price of $94 and a dividend yield of 4%. the latest quarterly dividend received by stock investors must have been per share.
A stock quote indicates a stock price of $94 and a dividend yield of 4%. The latest quarterly dividend received by stock investors must have been $3.76 per share.
Quarterly dividend received per share = $94 * 4% = $3.76 per share.
What's dividend yield which means?
Dividend yield is the economic ratio that measures the quantum of cash dividends paid out to shareholders relative to the marketplace cost in line with share. It's miles computed with the aid of dividing the dividend consistent with share by way of the marketplace charge in line with proportion and multiplying the result by way of a 100.
Why Is Dividend Yield vital?
Some buyers, inclusive of retirees, are heavily reliant on dividends for his or her income. For those traders, the dividend yield of their portfolio could have a meaningful impact on their non-public budget, making it very critical for those buyers to select dividend-paying businesses with long tune records and clear economic strength. For other traders, dividend yield can be much less sizeable, including for younger investors who're more inquisitive about growth companies that can keep their income and use them to finance their increase.
What Does the Dividend Yield tell you?
The dividend yield is a economic ratio that tells you the percentage of a agency's percentage rate that it will pay out in dividends each 12 months. For instance, if a agency has a $20 proportion fee and pays a dividend of $1 in line with yr, its dividend yield could be 5%. If a agency's dividend yield has been step by step growing, this may be due to the fact they are increasing their dividend, because their percentage charge is declining, or both. Relying at the occasions, this will be seen as either a high-quality or a poor signal by means of traders.
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What will be his new monthly net pay? round your answer to the nearest dollar. $2821 $2857 $2860 $2891
$2891 is his new monthly net pay.
If chine reduces his federal income deductions from 12% to 11%, the new federal income tax will be as below.
11% of $3500
11/100 x 3500
=0.11 x 3500
=$385.
Total deductions after this change will be -$385+ $95 + $89 + $40
=$609
Net pay
=$3500-$609
=$2,891
What is Net salary?
The sum that is credited to an employee's salary account each month is known as the "Net Salary," also known as the "Take Home Salary" (or weekly, depending on the terms of the employment contract). This amount is given by the business where the employee works after the employer deducts things like professional taxes, EPF, etc.It is important to remember the net salary while calculating salaries. The amount an employee really receives in exchange for the services they deliver to the company is known as net salary. The money collected can be used to control costs such as rent, mortgage payments, travel expenses, etc.To know more about Net salary visit:
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Answer:
D
Explanation:
post each transaction to t-accounts and calculate the ending balance for each account. at the beginning of september, the company had the following account balances: cash, $36,600; accounts receivable, $750; supplies, $310; equipment, $5,500; accounts payable, $650; common stock, $15,500; retained earnings, $27,010. all other accounts had a beginning balance of zero.
The ending balance for each account will be $ 51200, $ 11250, $ 1910, $ 4100, $ 17000, $ 2250, $ 15500, $ 37510, $ 10500, $ 2300, $ 3500, and $ 1000 respectively.
What are common stocks?A type of corporate shareholding and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used. In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares. A security that symbolizes ownership in a firm is called common stock. After creditors, bondholders, and preferred stockholders have been paid, whatever assets are left over after a liquidation goes to common stockholders. In the market, various kinds of equities are traded.
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a 10% increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the price of macaroni and cheese. from this information, we can assume:
We can assume that macaroni is an inferior good and its price elasticity of demand is infinite.
What is the price elasticity?Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
The percentage change in price of the good would be 0 since the price of macaroni did not change.
15% / 0 = ∞
A good is an inferior good if an increase in the income of the consumer leads to a decrease in the demand for the good. If income decreases, the demand for the good would increase.
Here are the options:
macaroni is a normal good and price elasticity of demand is greater than 1. macaroni is an inferior good and price elasticity of supply is equal to zero
macaroni is an inferior good and price elasticity of supply is infinite. macaroni is an inferior good and price elasticity of demand is less than 1
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According to the digital wallet overview video case, when adding a credit or debit card to your digital wallet, what security method is generally used to prevent someone else from adding your debit or credit card to their digital wallet?.
When adding a credit or debit card to your digital wallet, the security method that is generally used to prevent someone else from adding your debit or credit card to your digital wallet is a unique 16-digit token.
Although you did not include the video, it is easy to note that when adding a credit or debit card to a digital wallet, it is important to secure them so another person cannot add their details and in this way, steal from the wallet.
With this in mind, the use of a unique 16-digit token is important so as to authenticate the user to make sure he is the one adding the card.
What is a Digital Wallet?This refers to the wallet or place that a person's cryptocurrencies are kept and stored.
Hence, we can see that When adding a credit or debit card to your digital wallet, the security method that is generally used to prevent someone else from adding your debit or credit card to your digital wallet is a unique 16-digit token.
Although you did not include the video, it is easy to note that when adding a credit or debit card to a digital wallet, it is important to secure them so another person cannot add their details and in this way, steal from the wallet.
With this in mind, the use of a unique 16-digit token is important so as to authenticate the user to make sure he is the one adding the card.
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indicate whether each of the following items is representative of managerial or of financial accounting: information is factual and is characterized by objectivity, reliability, consistency, and accuracy. information is reported continuously and has a current or future orientation. information is provided to outsiders, including investors, creditors, government agencies, analysts, and reporters. information is regulated by the sec, fasb, and other sources of gaap.
The items given above can be classified into the functions of managerial or financial accounting, as below,
Managerial, information is factual and is characterized by objectivity, reliability, consistency, and accuracy.Information is reported continuously and has a current or future orientation. Financial AccountingInformation is provided to outsiders, including investors, creditors, government agencies, analysts, and reporters. Information is regulated by the sec, FASB, and other sources of GAAP. What is the significance of an information?The information related to an organization is of different nature, and relates to different functions of an organization in the normal as well as extraordinary course of its functionality.
Therefore, the significance regarding an information has been aforementioned.
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services high in qualities have characteristics that the buyer can evaluate after purchase.
Services high in experience qualities have characteristics that the buyers can evaluate before purchase.
What is high quality of services?
When a customer's expectations are met, the service is said to be of high quality. Quality of service describes or measures a service's entire performance, especially the performance felt by network users, whether it be a cloud computing service, a phone service, or a computer network. The key to provide first-rate customer service is being pleasant. Try to welcome everyone with a smile at all times, and be considerate and friendly.
Businesses are considered to have good service quality when they meet or surpass expectations. Consider going to a fast food restaurant for dinner, where you can count on getting your food five minutes after placing your order. Your order is called minutes before you had anticipated it to be once you have got your drink and chosen a table.
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Which is a brainstorming tool used for identifying underlying causes to a problem?
Fishbone diagram is used to identify the cause-and-effect relationship.
What is brainstorming?
The brainstorming is a technique that is used to develop new ideas for a new ongoing problem.
There is a special tool that is used to identify the underlying causes to a problem called fishbone diagram. The fishbone is a type of cause-and-effect diagram. Firstly, the cause of the problem is found out and after this the possible effects that problem is find out. After, analyzing the causes and effects a proper idea to deal with this problem is identified. The fishbone diagram is also known as the root analysis system in which the problem is identified from the start and its solution. Hence, the tool used is known as the fishbone.
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For lindsey’s dissertation, she has e-mails sent out to people 4 times a day for 4 weeks. In these e-mails, she asks about current emotional experiences and activities. What method is she using?.
During Lindsey's dissertation as she sent a few e-mails. when she asks about emotional experiences and activities, Lindsey was doing experience sampling.
What is an e-mail?Electronic mail, or e-mail, refers to messages sent and received by digital computers across a network. Computer users on a network can transmit text, graphics, sounds, and animated images to one another via an e-mail system. Or, Electronic mail (e-mail) is a computer-based program that allows users to communicate via message exchange. People can exchange emails fast thanks to a global email network. The electronic equivalent of a letter is e-mail, which offers benefits in flexibility and immediacy. E-mail, to put it simply, is a message that can include text, files, photos, or other attachments and is sent across a network to a specific person or group of people.
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Loyalty requires you to dismiss all of your personal goals permanently. please select the best answer from the choices provided t f
The given statement in this question is false. i.e. "Loyalty requires you to dismiss all of your personal goals permanently".
Employee loyalty to the organization is crucial but it doesn’t demand the employee to dismiss his/her personal goal permanently. But sometimes loyal employees who work for the success of the business sacrifice their time, health, and personal priorities to achieve the corporate goals.
Additionally, loyal workers have limitations. They don't forgo their well-being, hobbies, or time spent with loved ones in favor of the business. They use their sick leave and vacation time, which makes them better employees.
However, there are several crucial characteristics of loyal workers, many of which are obvious. They are punctual for work, finish what they start, and contribute to the business culture. Organizations should align the employee's personal goals with corporate goals to drive the loyalty of their employees.
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Washing machines that are manufactured in the united states and sold in germany are categorized as u.s. ________.
Answer:
Exports
Explanation:
PLATO gang
When it comes to international trade, an export is a good made in one nation and sold in another, or a service rendered in one nation to a national or resident of another nation.
What is Export ?The person who provides these goods or services is an exporter; the overseas customer is an importer. Financial, accounting, and other professional services, tourism, education, and intellectual property rights are all examples of services that are involved in international trade.
Customs officials frequently need to be involved while exporting goods.
A corporation may benefit from location economies and experience curve effects in their own nation by exporting.
Ownership benefits include the company's resources, global expertise, and capacity to create either affordable or distinctive items.
The benefits of a market's geographic location include: cost, market opportunity, and investment risk combined. The benefits of keeping a core competency in-house and utilizing it throughout the value chain as opposed to licensing, outsourcing, or selling it are known as internationalization advantages.
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In a competitive labor market, the demand for and supply of labor determine the equilibrium wage rate and the equilibrium level of employment. discuss the relationship between how these markets determine the wage rate and the quantity of labor that should be employed. share an example, beyond your textbook, that demonstrates this relationship
In a competitive labor market, the demand for and supply of labor determine the equilibrium wage rate and the equilibrium level of employment.
The relationship between how these markets determine the wage rate and the quantity of labor that should be employed is explained below.
All goods and services are made up of different resources known as factors of production.
Land, labor, capital, and entrepreneurship are the four primary components of production.
The labor market, like any other market, is governed by supply and demand laws.
The laws interact to determine the point at which the quantity required equals the quantity supplied.
The equilibrium consists of two components: equilibrium quantity and equilibrium price.
Distinct sorts of labor have different markets.
Some unskilled workers are paid less because of their skill level.
There are more subcategories at the higher ability levels.
Welders are one example of a skilled trade that is currently in high demand.
Welders are in short supply since there aren't enough of them. Companies require trained people, including welders, to manufacture their products, thus manufacturers compete for competent welders by giving greater compensation.Hence, the relationship between how these markets determine the wage rate and the quantity of labor that should be employed is as explained above.
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Why does the uit selling proce increase when expected volume is lower than budgeted volume?
The unit selling price increase when the expected volume is lower than the budgeted volume because fixed costs and desired ROI have to be spread over fewer units.
It's important to calculate your selling price because it permits you to reveal traits and make predictions at the marketplace. If you are a start-up manufacturer, it may be a wonderful manner to decide a pricing strategy.
to Calculate Selling Price Per Unit. Determine the overall price of all devices bought. Divide the overall price by the number of devices bought to get the price fee. Use the promoting fee system to calculate the very last fee: Selling Price = Cost Price + Profit Margin.
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A seller (or supplier) of goods or services to a business organization is known as a:_________
A seller (or provider) of goods or services to a business organization is known as a :Vendor
An organization that sells things is a vendor. It can market to both businesses and people, offering services, products, or a combination of the two.
What Is a Vendor?
A vendor is a participant in the supply chain who provides products and services to businesses or customers. The word "vendor" is often used to refer to the organization that receives payment for items given, not the company that made the goods itself. However, a vendor can act as both a maker and a supplier (or seller) of goods.Large retail chains like Target and Walmart typically have a list of suppliers from whom they can buy goods at discounted costs. They then provide the products to their clients at retail costs. To prepare for, acquire, and deliver the items and services they are contracted for, a vendor that serves one of these major businesses would require a significantly larger operation.A vendor, usually referred to as a supplier, is a person or a company who sells goods. A vendor often finds a place to sell their products and services. The seller markets and sells their goods using whichever strategy suits them best after procuring the appropriate items. If it is a food truck, for instance, the vendor makes sure there are adequate ingredients to prepare the menu items and serve an anticipated number of people before driving to a target area and starting to sell meals.To learn more about vendor visit:https://brainly.com/question/24852211
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which of the following facts would not necessarily be taken into consideration when trying to determine which of two residences is the principal residence of the taxpayer? multiple choice question. the proximity of each residence to the taxpayer's job the principal place of abode of the taxpayer's immediate family the taxpayer's mailing address for bills and important correspondence the proximity of each residence to the taxpayer's close friends
The correct option is (a). The proximity of each residence to the taxpayer's job the principal place of abode of the taxpayer's.
A taxpayer is anyone who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation. Governments primarily obtain their funding through taxes, which are levied on both citizens and companies.
The term "taxpayer" in the context of taxation usually refers to "assessee," who is responsible for paying tax to the government either directly or indirectly depending on the type and amount of income generated the prior year. The Taxpayer must also pay tax to the government using certain channels or procedures.
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Reference the max process: for burgers, the customer entering at which time has the longest wait time? group of answer choices 9pm 7pm 6pm all customers have the same wait time 8pm
The customer entering at 8pk has the longest wait time.
How to illustrate the informationIt should be noted that for burgers, throughput rate
From 6-7 = 48 / hourFrom 7-8 = 48 / hourFom 8-9 = 48 / hour.The inventory will increase by 12 each hour from six to eight ( 60 incoming orders against capacity of 48). After the first two hours, the stock will continue to increase until it reaches 24 hamburgers at eight o'clock. 48 orders will be handled between 8 and 9 AM, with 16 still outstanding by 9 PM ( because the order rate will now fall from 60 to 40)
The payment procedure won't be impacted because the total putut from packaging will be 48 + 40 = 88 during the first two hours and 48 + 30 = 78 during the final hour.
Since there will be 24 people in front of consumers arriving at 8 PM, they will have to wait the longest.
Therefore, the correct option is 8pm.
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3. liabilities and net worth recall that the balance sheet equation states that net worth equals total assets minus total liabilities. identifying assets and recording them is one of the first steps in balance sheet preparation. in some instances, assets are acquired with cash. in others, often large purchases, they are acquired by securing debt (for example, a bank loan or a department store charge). regardless of how an asset is acquired, items purchased through financing have associated debt which is owed by you and must be repaid in the future. these items, orliabilities , are generally classified according to maturity. check the category to which each of the items belong. current liability long-term liability a 24-month home improvement loan from origination, 36-month automobile loan water bill car insurance outstanding principal on a second home, not due in the current year
The relationship between the three items on a balance sheet—assets, liabilities, and equity—is depicted by the accounting equation.
What is equity?The performing arts and entertainment sectors are represented by Equity, originally known as the British Actors' Equity Association.
The union was founded in 1930 by a group of West End actors, and it expanded to encompass actors and stage managers across the country as well as acquiring recognition in radio, cinema, and television. The majority of professionals whose work is seen on screen are currently represented by Equity, which merged the Variety Artistes' Federation in 1967.
Actors, singers, models, performers, directors, choreographers, designers, and stage managers were among its around 46,000 members as of the year 2020.
To prevent confusion with other artists and performers, Equity mandates that each member have a distinct professional name.
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A company wishing to set itself apart from its competition should strive to gain _______ by producing its goods and services more efficiently and effectively than other organizations.
A business should work to obtain a competitive edge by producing its goods and services more effectively and efficiently than other businesses if it wants to stand out from the competition.
What is competition?Competition is a struggle in which two or more parties compete for a single, unsharable goal, where one party gains at the expense of the other (an example of which is a zero-sum game). Entities such as organisms, people, economic and social organizations, etc., can compete with one another. The conflict may arise from the pursuit of any exclusive objective, such as recognition (such as prizes, products, relationships, status, or prestige), leadership, market share, specialized resources, or a specific region. Competition between living things that coexist in the same environment occurs in nature. Animals fight for access to food, mates, water, and other biological resources.
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if the percentage change in the quantity demanded of a good is greater than the percentage change in income, then this good will have an income elasticity: a less than 1 and it is a normal good. b equal to 1 and it is a normal good. c less than 1 and it is an inferior good. d equal to 0 and it is a normal good. e greater than 1 and it is a normal good.
The correct option is (e) greater than 1 and it is a normal good
If the percentage change in the quantity demanded of a good is greater than the percentage change in income and in the same direction, then this good will have an income elasticity greater than 1, and it is a normal good.
What Is Income Elasticity of Demand?The term "income elasticity of demand" describes how responsive a given good's quantity demand is to changes in the real income of the customers who purchase it.
The percent change in quantity demanded divided by the percent change in income is the formula for determining the income elasticity of demand. With the aid of income elasticity of demand, you may determine if a certain commodity is a luxury or a need.
• Income elasticity of demand is a term used in economics to describe how sensitively a change in income affects the quantity of a good or service that is wanted.
• The percentage change in the quantity required divided by the percentage change in income is the formula for determining the income elasticity of demand.
• Companies use the metric to help forecast how a business cycle would affect sales.
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when an estimator is precise, it is guaranteed that it will produced estimates that are centered on the true population parameter. true false
It is a given that an accurate estimator will generate estimates that are centred around the real population parameter. The stated assertion is true
An estimator is a number that is assigned to each potential random sample of size n from the population (the estimate of the parameter). For instance, the sample mean assigns the average of the n values in the sample to each sample of size n. The estimate is the value that is given to each specific random sample by the estimator, a rule that allocates values to samples. A statistic, or a figure calculated from a sample, is a specific case of an estimator.
Since the estimator's value depends on the sample, it is a random variable, and as a result, the estimate frequently differs from the population parameter's value. We must comprehend how the estimator's value changes.
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for each of the following scenarios, indicate whether the individual made a correct choice or an incorrect choice when preparing a budget. correct choice incorrect choice david is a sales rep who, based on last year, averaged $2,500 of monthly commission before taxes. he should include this in his budget. sharon was just notified that her contribution to the company’s health plan is increasing by 3.5%. it’s a company expense, so sharon doesn’t include it in her budget. as scott was reconciling his checkbook, he realized that he incurred $15.75 last month for atm withdrawals. he looked back at the last six months and realized that he averaged the same amount each month. this is an unexpected expense and shouldn’t be listed in his budget. every year the mendozas buy a big item or take a trip with a single annual bonus jesse receives. they included this in their budget.
Indicating whether the individual made a correct choice or an incorrect choice when preparing a budget is as follows:
Correct Choice:1. David should include the monthly commission before taxes in his budget.
2. Since it’s a company expense, Sharon doesn’t include it in her budget.
4. The Mendozas included this in their budget.
Incorrect Choice:3. This unexpected expense shouldn’t be listed in his budget.
What is a budget?A budget is a planned estimate of income and expenditure for a set period.
Budgets are usually prepared and re-evaluated periodically (annually, quarterly, or monthly) to help understand variances and corrective actions.
Thus, indicating whether the individual made a correct or incorrect choice when preparing a budget has been completed.
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