Questions
why does total revenue vary directly with price, if the demand is relatively price inelastic ?...

why does total revenue vary directly with price, if the demand is relatively price inelastic ? explain the relationships between elasticity , price and revenue

use your own words ( 200 words )

In: Economics

The data show systolic and diastolic blood pressure of certain people. Find the regression​ equation, letting...

The data show systolic and diastolic blood pressure of certain people. Find the regression​ equation, letting the systolic reading be the independent​ (x) variable. Find the best predicted diastolic pressure for a person with a systolic reading of 150. Is the predicted value close to 66.2​, which was the actual diastolic​ reading? Use a significance level of 0.05.
Systolic
139
118
145
133
141
138
139
136
  
Diastolic
101
61
82
74
104
79
74
74
LOADING... Click the icon to view the critical values of the Pearson correlation coefficient r.

In: Statistics and Probability

Refer to the accompanying data set and construct a 95​% confidence interval estimate of the mean...

Refer to the accompanying data set and construct a 95​% confidence interval estimate of the mean pulse rate of adult​ females; then do the same for adult males. Compare the results.

Males Females

84       78

71       95

49       56

63       64

53       54

61       82

51       81

75       88

54       89

62       57

69       36

59       65

62       86

78       74

80       75

65       64

65       68

94       77

45       61

86       61

71       82

63       83

74       68

74       71

54       84

68       90

56       87

77       89

71       91

66       91

63       71

93       91

57       80

63       79

56       74

57       56

71       101

69       76

81       78

56       75

In: Statistics and Probability

On January 1, 2006 the Excel Delivery Company purchased a delivery van for $65,000. Useful life...

  • On January 1, 2006 the Excel Delivery Company purchased a delivery van for $65,000.
  • Useful life is 5 years and it has a salvage value of $15,000
  • The company expects to drive the van 125,000 miles
  • The following is the actual miles driven
    • 2006 – 40,000 miles
    • 2007 – 35,000 miles
    • 2008 – 25,000 miles
    • 2009 – 21,000 miles
    • 2010 – 11,000 miles

Required – Calculate annual depreciation for the five year life of the van using each of the following methods – (round to nearest dollar):

  • Straight line
  • Sum of the years digits
  • Double declining method
  • Units of production using miles driven

In: Accounting

imagine a small business that you would like to open (Gym). Give a comprehensive overview of...

imagine a small business that you would like to open (Gym). Give a comprehensive overview of the opportunities and challenges facing the business. This might include (but not limited to) discussions of your business's customers, revenue sources, business model, competition, operating environment, marketing efforts, information technology, management structure, etc., etc. s. Be creative. Be concise.

In: Operations Management

Please finish the following assignment in Excel. Ignoring price, create a chart that displays the seasonality...

Please finish the following assignment in Excel.

  1. Ignoring price, create a chart that displays the seasonality of cranberry sales.
  2. Ignoring price, create a chart that shows whether there is an upward trend in sales.
  3. Determine average sales per quarter, breaking it down based on whether your price was higher or lower than the competitor’s price. You can use the following function to transform the price into a category variable:  “=IF(J14<K14,"Higher Price", "Lower Price")”
Year Quarter Units Competitor Price My Price
2006 1 453.4041 4.05 4.74
2006 2 454.8513 4.81 5.28
2006 3 523.9836 5.42 4.43
2006 4 578.7019 4.31 5.02
2007 1 608.5591 4.71 4.11
2007 2 577.5938 4.88 4.52
2007 3 571.9 5.81 4.41
2007 4 660.0556 4.14 4.87
2008 1 443.501 4.58 5.3
2008 2 390.6668 4.2 5.07
2008 3 429.6064 4.24 5.14
2008 4 788.3224 5.89 4.66
2009 1 581.585 5.2 4.52
2009 2 503.9166 5 4.86
2009 3 499.7705 4.5 4.63
2009 4 936.1867 5.05 4.25
2010 1 459.4822 5.42 4.94
2010 2 470.638 4.57 4.58
2010 3 349.4878 5.06 5.78
2010 4 912.5367 5.28 4.16
2011 1 400.3611 4.93 5.5
2011 2 528.4768 4.34 4.33
2011 3 605.8438 5.23 4.46
2011 4 574.5326 5.62 5.53

In: Statistics and Probability

Stevens Textile: Balance Sheet as of December 31, 2006 (Thousands of Dollars) Cash $ 1,080 Accounts...

Stevens Textile: Balance Sheet as of December 31, 2006

(Thousands of Dollars)

Cash

$ 1,080

Accounts Payable

$ 4,320

Receivables

6,480

Accruals

2,880

Inventories

9,000

Notes payable

2,100

     Total current assets

$16,560

     Total current liabilities

$ 9,300

Net fixed assets

12,600

Mortgage bonds

3,500

Common stock

3,500

Retained earnings

12,860

Total assets

$29,160

     Total liabilities and equity

$29,160

Stevens Textile: Income Statement as of December 31, 2006

(Thousands of Dollars)

Sales

$36,000

Operating costs

32,440

     Earnings before interest and taxes

$ 3,560

Interest

460

     Earnings before taxes

$ 3,100

Taxes (40%)

1,240

Net income

$ 1,860

Dividends (45%)

$     837

Addition to retained earnings

$ 1,023

          Suppose 2007 sales are projected to increase by 12.5 percent over 2006 sales. Determine the additional funds needed. Assume that the company was operating with plenty of excess capacity in 2006, that it cannot sell off any of its fixed assets, and that any required financing will be borrowed as notes payable. Also, assume that assets, spontaneous liabilities, and operating costs are expected to increase by the same percentage as sales. Use the percent of sales method to develop a pro forma balance sheet and income statement for December 31, 2007. Use an interest rate of 8 percent on the balance of debt at the beginning of the year to compute interest (cash pays no interest). Use the pro forma income statements to determine the addition to retained earnings.

In: Finance

The amount of time that customers stay in a certain restaurant for lunch is normally distributed...

The amount of time that customers stay in a certain restaurant for lunch is normally distributed with a standard deviation of 14 minutes. A random sample of 15 lunch customers was taken at this restaurant. Construct a 99%confidence interval for the true average amount of time customers spend in the restaurant for lunch. Round your answers to three decimal places and use ascending order.

time 36, 79, 55, 42, 80, 44, 98, 10, 69, 84, 59, 43, 55, 65, 55

In: Statistics and Probability

Excess revenue (total revenue minus operating expenditures) in the nonprofit sector are normally distributed with a...

Excess revenue (total revenue minus operating expenditures) in the nonprofit sector are normally distributed with a mean of $1.5 million and a standard deviation of $1 million.

(a) What is the probability that a randomly selected nonprofit has negative excess revenues?

(b) What is the probability that a randomly selected nonprofit has excess revenue between $1 million and $2 million?

(c) If 10% of nonprofits are expected to exceed a certain excess revenue level, what is that revenue level?

In: Math

Determine the effect of the following errors on a company's total revenue, total expenses, and net...

Determine the effect of the following errors on a company's total revenue, total expenses, and net income. Indicate the effect by selecting Overstated (too much), Understated (too little),or Not Affected.

Transactions Total Revenue Total Expenses Net Income
Example: A check for $325 was written to pay on account. The accountant debited Rent Expense for $325 and credited Cash for $325. Not Affected Overstated Understated
a. $615 was received on account from customers. The accountant debited Cash for $615 and credited Professional Fees for $615.
b. The owner withdrew $1,500 for personal use. The accountant debited Salary Expense for $1,500 and credited Cash for $1,500.
c. A check was written for $1,265 to pay the rent. The accountant debited Rent Expense for $1,625 and credited Cash for $1,625.
d. $2,100 was received on account from customers. The accountant debited Cash for $2,100 and credited the Capital account for $2,100.
e. A check was written for $525 to pay the phone bill received and recorded earlier in the month. The accountant debited Phone Expense for $525 and credited Cash for $525.

In: Accounting