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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- The ABC Company is involved in the production and selling of consumer goods, particularly beauty products such as bath soap and shampoo and had registered a positive profit growth for the last 10 years. However, the current year seems to be different from those years as the company is expecting a decline in profit; which is estimated to be about 70% below the target. The manager now is in a dilemma … asking himself/herself “What happened, why this decline in profit?” The Manager then asked the company Accountant to give him/her the data on sales and advertising cost for the last 10 years – he/she wants these data to determine whether the company can live without advertising, as advertising cost happens to be substantial. Justify your answer by doing as step-by-step procedure in Correlation Analysis using a 0.05 level of significance. The data are as follows –arrow_forwardSuppose a group of consumers spend 30% of their disposable income on food, 20% on clothing, and 50% on rent. If over the course of a year the price of food rises 10%, the price of clothing drops 5% and rent rises 15%, what is the average price increase experienced by these consumers?arrow_forwardQuestion 3 Shoprite is a busy center for residents in East Legon and its surrounding community. Assume that 2 customers arrive every 12 minutes and 3 customers are served every 15 minutes and that currently, there is only one cashier. (i).Determine the average waiting time in minutes before service begins. (ii). Advice the management the proportion of the time that a customer has to wait. (B). Management perceives that the waiting time computed in (ii) above is not acceptable and is faced with two options. Management can either employ an assistant for the cashier or open a second cash machine. The former, if implemented, will enable 4 requests to be served every 15 minutes and the assistant will receive a monthly salary of GH₵160. The latter, if implemented will improve the arrival rate to 1 customer every 12 minutes. However, it requires an initial capital outlay of GH₵3000 and the cashier who will operate the cash machine will receive a monthly salary of GH₵250. The shop…arrow_forward
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