EBK BUSINESS STATISTICS
EBK BUSINESS STATISTICS
7th Edition
ISBN: 9780134462783
Author: STEPHAN
Publisher: PEARSON CUSTOM PUB.(CONSIGNMENT)
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The following data were taken from the annual reports of Big Bang Inc., a manufacturer of fireworks, and Orange Inc., a manufacturer of computers.   Big Bang, Inc. Orange, Inc. Cost of goods sold $830,000 $11,540,000 Inventory, end of year 190,000 320,000 Inventory, beginning of year 240,000 290,000 What is the inventory turnover for Big Bang and Orange. a. Big Bang, Inc.: 3.86Orange, Inc.: 37.84 b. Big Bang, Inc.: 3.86Orange, Inc.: 9.65 c. Big Bang, Inc.: 94.55Orange, Inc.: 37.84 d. Big Bang, Inc.: 94.55Orange, Inc.: 9.65
Morning House is a mail-order firm which carries a wide range of rather expensive art objects for homes and offices. It operate problems would be greatly reduced. Since it takes approximately six weeks to receive 90% of the response to a given campaign, an accurate prediction of total sales made as late as the end of the first week of receiving orders would be useful. The first week’s sales and total sales of the last 12 campaigns of the firm are shown below. Can the first week’s sales be used to predict total sales? First week’s Total Campaign Sales Sales 1 32 167 2 20 91 3 114 560 4 66 335 5 18 70 6 125 650 7 83 401 8 65 320 9 94 470 10 5 15 11 39 210 12 50 265 --------------------------------------------
If a quarterly seasonal index is 1.16, it implies that a. the quarter's sales are 1.6% of the yearly average b. the quarter's sales are 16% above the yearly average c. he other three quarterly percentages will total 84% d. the quarter's sales are 16% of yearly total sales
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