Suppose the monthly operating profits for the past two financial years for arandom sample of20 open market vendors operating at Oshetu open market are as follows:Vendor Operating profits (N$1000s) 2022 financialyearOperating profits (N$1000s) 2023 financialyear1 29.5 302 70.3 69.53 69.4 704 46.6 425.63.6 636 85.5 857 100.3 99.88 34.3 349 20.2 2210 52.5 53.511 88.8 85.212 60.9 6213 55.1 5514 98.4 9715 60.6 6216 64.0 6317 46.4 4518 80.6 89FACULTY OF COMMERCE, MANAGEMENT AND LAWOLD CURRICULUM MODULESPage 13 of 1519 77.7 7820 29.2 30Required:a) Develop and interpret a 90% confidence interval for the population meanoperatingprofits for the 2023 financial year.b) Using hypothesis testing, test whether there is a significant differencebetween themean operating profits for the two financial years. Use ?? = 0.01

Step 1: Consider the data as such,Vendor2022 Profits (X)2023 Profits (Y)Differences…

Answered: Suppose the monthly operating profits…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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tise or nột to advertise Suppose that Fizzo and Pop Hop are the only two firms that sell orange soda. The following payoff matrix shows the profit (in millions of dollars) each company will earn depending on whether or not it advertises: Pop Hop Advertise Doesn't Advertise Advertise 8, 8 15, 2 Fizzo Doesn't Advertise 2, 15 11, 11 For example, the upper right cell shows that if Fizzo advertises and Pop Hop doesn't advertise, Fizzo will make a profit of $15 million, and Pop Hop will make a profit of $2 million. Assume this is a simultaneous game and that Fizzo and Pop Hop are both profit-maximizing firms. million if Pop Hop advertises and a profit of $ million if Pop Hop does not If Fizzo decides to advertise, it will earn a profit of $ advertise. million if Pop Hop does not million if Pop Hop advertises and a profit of $ If Fizzo decides not to advertise, it will earn a profit of $ advertise. TE Don Uenad orticoc Fizze makoc a hiabo nrefit RS R choeces acer
RMC, Inc., is a small firm that produces a variety of chemical products. In a particular production process, three raw materials are blended to produce two products: a fuel additive and a solvent base. Each ton of fuel additive is a mixture of 2/5 ton of material 1 and 3/5 ton of material 3. A ton of solvent base is a mixture of ½ ton of material 1, 1/5 ton of material 2, and 3/10 ton of, material 3. After deducting relevant costs, the profit contribution is $40 for every ton of fuel additive produced and $30 for every ton of solvent base produced. RMC’s production is constrained by a limited availability of the three raw materials. For the current production period, RMC has 20 tons of material 1, 5 tons of material 2, and 21 tons of material 3 that are available for production. Assuming that RMC is interested in maximizing the total profit contribution, answer the following: a. Find the optimal solution. How many tons of each product should be produced, and what…
Help Save Suppose a corporation has two subsidiaries, one of which is unregulated and sells all of its output to the other, regulated subsidiary. Permitted profits at the regulated subsidiary are equal to 10 percent of total costs. The initial profit picture for the subsidiaries is provided in the table below: Unregulated Subsidiary Regulated Subsidiary Total $ 650,000 N/A revenue $ 350,000 $300,000 $1,000,000 $ 100,000 Total costs Total profit If the unregulated subsidiary doubles its selling price to the regulated subsidiary, what are the new profits at Instructions: Enter your responses as a whole number. (a) The unregulated subsidiary? profit = $ (b) The regulated subsidiary? profit = $ & 23 24 8. *00 w/ %S4
I am having trouble understanding how to calculate the economic and accounting profits for this question. I know that Accounting profit is Revenue - all costs, but based on how this question is phrased, it isn't clear exactly what is being considered revenues and costs incurred. If you could help me understand these calcualations better, that would be great! Thanks!
Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on the sales, costs, and profitability of the three models: Average Quantity Current Total Variable Cost Contribution Margin Contribution Sold Price Revenue Per Unit Per Unit Margin* Model (Units/Month) ($) ($) ($) ($) ($) 15,000 30 450,000 15.00 15 225,000 В 5,000 35 175,000 18.00 17 85,000 10,000 45 450,000 20.00 25 250,000 Total $1,075,000 $560,000 *Contribution to fixed costs and profits. The company is considering lowering the price of Model A to $27 in an effort to increase the number of units sold. Based on the results of price changes that have been instituted in the past, Tennis Products' chief economist estimates the arc price elasticity of demand to be -2.5. Furthermore, she estimates the arc cross elasticity of demand between Model A and Model B to be approximately 0.5 and between Model A and Model to be approximately 0.2. Variable costs per unit are…
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Revenue and Costs ($) TC P61 Given TFC = $40.00 Q1 = 30.00 Q2 = 40.00 TR P6 P5 Q3 = 50.00 Q4 = 80.00 Q5 = 86.00 P4. P1 = $40.00 P2 = $50.00 P3 = $60.0o P4 = $150.00 P5 = $200.00 P6 = $210.00 P61 = $320.00 P3 P2 P1 Q1 Q2 Q4 Q5 Q3 Exhibit TR-TC Output (Q) Refer to Exhibit TR-TC for a typical competitive firm. At an output level of Q5, the firm's losses is about O $100.00 O $90.00 O $110.00 O $120.00
Price per unit sold = $46 Units of Total Product Revenue Total Total Product Revenue 0 1 2 3 4 5 6 7 8 9 10 $0 $46 Total Cost Data Total Total Fixed Variable Cost Cost $60 60 60 60 60 60 60 60 60 60 60 $0 45 85 120 150 185 225 270 325 390 465 Total Cost $60 105 145 180 210 245 285 330 385 450 525 Total Profits TR - TC Average Cost Data AFC $60 $30 $20 $15 $12 $10 $9 $8 $7 $6 AVC (TVC/# units) ATC $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 50.00 46.50 52.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 Marginal Data MC MR (TC₂- (TR2- Marginal TC₁)/(Q₂- TR1)/(Q2 Profits Q₁₂) Q1)
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The table below displays the cost and output per week (in EUR) of the company «Creativia» which produces community textile face masks. Total Product Quantity Total variable costs, Euro 0 0 250 350 450 450 650 600 750 750 800 950 830 1300 850 1800 Assume the price is EUR 4,00 and is constant at any quantity, Calculate the profit at the profit-maximizing output and show the area of profit on the graph. Determine below what price would the firm exit the market in the long run. Explain your answer.
Profit (millions $) Odcon $17 RW S3.5 Accept Rainbow Writer $30 Reject Profit (millions $) Odeon $12 RW $2 Odeon Profit (millions $) $40 Accept Odeon S14 RW $4.5 Rainbow Writer Profit (millions S) Odcon $12 RW S2 Reject Rainbow Writer (Rw) is a small online company selling a highly rated software package for engraving words onto objects produced by 3D printers. The firm currently earns a profit of $2 million per year selling its package exclusively on its website. Odeon, the producer of the most popular 3D printers has expressed interest in bundling Rainbow Writer's product with its printers. Odeon expects that bundling would further boost its sales and allow it to sell its printers at a higher price, thus raising its profits beyond its current profit of $12 million. The diagram above shows the decision tree for the Rainbow Writer - Odeon bargaining game. Refer to the decision tree above. What is the equilibrium outcome in this game and is this a subgame - perfect equilibrium? O A.…
vate X Student Portal | Main CENGAGE MINDTAP gage.com/static/nb/ui/evo/index.html?deploymentid=57962518850017814342930411958eISBN=9781337106603&id=1810088554&snapshotid=3502477& Problems: Chapters 21 and 22 The cost the upstream mill incurs for producing enough paper (one "unit" of paper) to make one unit of boxes is $12.50. X Assume the two mills operate as separate profit centers, and the paper mill sets the price of paper. It follows that the marginal profitability of boxes represents the highest price that the box division would be willing to pay the paper division for boxes.. Furthermore, assume that fixed costs are $0 for the paper mill. Price (Marginal Profitability to the Box Mill) ($) The following table summarizes the quantity, total revenue, and marginal costs from the perspective of the paper mill for selling paper to the box mill at various prices. $40 $36 $32 $28 $24 $20 $16 $12 $8 $4 ECN-601 Class Resources In the following table, fill in the marginal revenue, total…

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