Suppose a baker wants to know, on average, how many pastries they sell in a day.They sampled over 4 days. On the first day they sold 10, on the second day they sold 12, on the third day they sold 18, and on thefourth day they sold 16.The population standard deviation of pastry sales is 3. What is the point estimate (average) number of pastries sold?2608056O 14Nex

The objective of the question is to calculate the point estimate or the average number of pastries…

Answered: Suppose a baker wants to know, on…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following monthly sales (in thousands of AUS dollars) of chocolate boxes have been recorded for January, February, March, and April, respectively: 8, 8, 5, 9. Focusing on sales forecast accuracy for the month of April only, explain which of the following forecasting method would you recommend: the Naïve method, the Average method, or the Simple exponential smoothing method (assuming alpha=0.8 and initial state of 7)?
Each day, the office staff at Oasis Quick Shop prepares a frequency distribution and a histogram of sales transactions by dollar value of the transactions. Friday's histogram follows. 200 150 100 50 0 25 50 75 100 125 150 175 200 $/Transaction 200 O 85 0 50 50 Ο 100 O On Friday, the approximate number of sales transactions in the 125-under 150 category was 150
The Widget Co. currently sells 800 widgets per week for a price of $7.00 each. Their market research indicates that for each $0.50 increase in price they will sell 25 fewer widgets per week. What price should they charge to maximize sales income?
A telephone call center where people place marketing calls to customers has a probability of success of 0.09. Find the number of calls needed to ensure that there is a probability of at least 0.79 of obtaining seven or more successful calls. (Hint: Start by checking the probability of seven or more successful calls in 80 calls.) The number of calls needed to ensure that there is a probability of at least 0.79 of obtaining seven or more successful calls is ☐ (Type a whole number.)
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Consider the checkout process of a grocery store with ten identical cashiers performing the checkout process. First, assume that each cashier has her own separate checkout queue and that customers arrive at each case with an average arrival rate of 12 per hour. It takes 4.8 minutes on average to check a customer out. Assume that both the inter-arrival times and service times have a coefficient variation of 1. 1) How long on average does a customer wait from joining the queue in front of a cashier until her checkout is complete? 2) On average, how many customers are waiting in the queue in total? ( Including all queues)? 3) Now suppose the ten queues are pooled together so that there is one common queue. Repeat your calculations for part a and b, compare the results, and explain the difference
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Chapter 8. Flor's Flours is small business that produces two types of ready-to-use multigrain flours using organic products such as bulgur wheat, garbanzos, and jasmine rice and sells them at a Farmer's Market every weekend. The first blend is called Pancake-Me and is priced at $6.50 per Ib. and the second blend is called the Bake-Me and is priced at $4.50 per Ib. These healthier versions of the traditional flour used for cooking and baking are fairly popular and Flor realizes that she needs to have a more formalized method of how to blend the flours if she hopes to minimize her costs and maximize her profits by continuing to sell the flours on a larger scale. The costs of obtaining the components - bulgur wheat, garbanzos, and jasmine rice are different. With a lot of painstaking trial-and-error, Flor has found that the following guidelines must be met to ensure that the Flours meet the flavor-profile that consumers prefer: Pancake-Me Blend should have: • At least 50% bulgur wheat •…
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