Baldwin has a new design for their product Bolt next round that can reduce their material cost of producing units from $8.14 to $7.32. Baldwin passes on half of all cost savings by cutting the current price to customers. For simplicity: - Use current labor costs of $3.98 - Assume all period costs as reported on Baldwin's Income Statement (Annual Rpt Pg 2) will remain the same. Determine how many units (000) of product Bolt would need to be sold next round to break even on the product.
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990 units.
792 units.
1,049 units.
1,287 units.
1,101 units.
937 units.
Answers
Baldwin has a new design for their product .The breakeven point in the units will be 989.26 units.
Calculating the problem:Particulars Per unit
Sales per unit $19
Less: Direct materials $7.32
Direct labor $4.14
Contribution margin $7.54
Fixed costs of product Bat $7,459
Break even point in units = Fixed costs ÷Contribution margin per unit
Break even point in units = $7,459 ÷ $7.54
Break even point in units= 989.26 Units
Break even point:Unit break even point = fixed cost ÷ contribution margin per unit. A unit's breakeven point tells you exactly how many units you need to sell to make a profit. If you can sell more units beyond that point, you can make a profit.
What is BEP in Cost Accounting?The break-even point in accounting refers to the point or level of activity at which sales or turnover exactly equals total costs. In other words, the break-even point is the level of activity at which there are no gains or losses and the total cost of the business is equal to the revenue.
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Related Questions
The purchase of goods and services, the sale of goods and services to customers, and costs to operate the business are all reported on the statement of cash flows under activities.
Blank 1: operating
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The term refers to the sale of goods and services to customers, the purchase of goods and services, and costs to operate the business are all reported in the statement of cash flows under activities operating.
What are Operations in a Company?Operations are one of the main components in a company where operations are the activities of managing the company's internal resources so they can work efficiently. These operations are activities of buying goods or services as capital and selling goods or services made by the company. All costs incurred in these operating activities will be reported in the statement of cash flows under activities.
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Behavioral controls involve the appropriate balance and alignment among the culture, rewards, and boundaries of a firm. For firms competing in highly stable industries, traditional strategic controls are most appropriate. Sales quotas, operating budgets, and production schedules are examples of contemporary controls.
True.
Answers
The following statement, "Behavioral controls involve the appropriate balance and alignment among the culture, rewards, and boundaries of a firm. " is true.
Behavioral controls are the mechanisms that a company uses to ensure that its employees comply with its policies and procedures. These controls can take many forms, but typically include training, socialization, and communication.
Culture can be defined as the behaviors and beliefs characterized by a particular group of people, passed down from generation to generation. Culture is often passed down through stories, music, art, and other forms of communication.
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1. Give at least two definitions for entrepreneurship and two for entrepreneur.
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Answer:
entrepreneurship definition 1: The process of developing, organizing, and operating a new business in order to make a profit while taking financial risks.
entrepreneurship definition 2: The pursuit of new ideas and the willingness to pursue those ideas and combine resources to achieve the goal of meeting market needs.
entrepreneur definition 1: A individual who has a concept and works to create a services or products that others buy, and the enterprise that helps that effort.
entrepreneur definition 2: Entrepreneurs take on most of the risks and initiatives of new ventures and are often seen as visionaries or innovators.
The primary goal of a(n) ______ is the creation of standardized goods and services that will address the needs of customers worldwide.
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The primary goal of a globalization is the creation of standardized goods and services that will address the needs of customers worldwide.
The term "globalization" describes how individuals have become more interconnected on a political, economic, and social level. We are edging away from isolated nations and toward a more interconnected global community. Business globalisation is the process through which a corporation transitions from being connected with a single country to one that conducts business internationally. Market globalization and production globalization are the two main areas in which the effects of globalization on company may be divided.
The lowering of obstacles to selling abroad is referred to as market globalization. With fewer limitations when crossing borders and lower tariffs that keep consumer prices lower, this shift will make it simpler for your business to start selling products abroad.
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Part B Based on what you have learned in this lesson, do you think that Supreme Court decisions can impact civil liberties and civil rights? You may use additional resources of your choosing to help form your answer.
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Decisions made by the Supreme Court affect society as a whole, not just lawyers and justices. High school pupils are significantly impacted by the court's rulings.
What makes the Supreme Court's ruling significant?The Supreme Court serves as the last arbitrator of law, protecting and interpreting the Constitution while also guaranteeing the American people that they will be treated fairly by the law.
Charles Evans Hughes, chief justice of the Supreme Court, asserts that the Court is "distinctly American in concept and operation."
The rulings of the Supreme Court thereby affect society as a whole, not just lawyers and justices.
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ACTIVITIES
Activity 15-1 Payroll Preparation
Compute the payroll amounts for a biweekly period using the
information in this table. Use information given in the chap-
ter and the amounts listed here when figuring tax. Complete
Payroll Information
Employee Name
Dixon, Amy
Dorland, Robert
Gordon, Margaret
Michaels, Connie
Scott, Patrick
Sears, Jackie
Payroll Record
Employee
Name
Dixon, Amy
Dorland, Robert
Gordon, Margaret
Michaels, Connie
Scott, Patrick
Sears, Jackie
Hours Worked
80
75
48
64
80
80
Gross
Earnings
FICA
Tax
the payroll record. (No employee has met the maximum
amount for Social Security tax.) Procedure 15.1 can be used
as a guide in completing this exercise.
Hourly Rate
14.73
13.40
14.80
16.25
14.02
13.21
Federal
Withholding
Tax
Marital Status
M
M
S
S
M
M
State Income
Tax (2%
of gross
earnings)
Exemptions
0
2
1
0
3
1
Total
Deductions
Net
Earnings
Answers
Payroll is one of the most important things which has been and also needs to be paid in the process of time.
What is the meaning of the Payroll?Payroll definition could be expressed simply as the act of paying employees. Its steps include making a list of paid personnel, figuring out their hours worked, estimating their pay, paying them on time, and recording the cost of payroll.
The process that paying employees' salaries is known as payroll. The first step is to create a list of something like the employees who just want to be paid, and the last step is to keep track of the costs. Payroll, HR, as well as finance teams, must all work together to complete the challenging process.
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A party who seeks to appease an opponent may be willing to place the opponent's interests above his or her own, sacrificing to maintain the relationship.We refer to this conflict-handling intention as:A) collaborating.B) avoiding.C) compromising.D) competing.E) accommodating.
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A party celebration who seeks to soothe an opponent can be inclined to location the opponent's pursuits above his or her personal, sacrificing to preserve the relationship.We check with this conflict-coping with aim as.E) accommodating.
The required details about Accommodating is mentioned in below paragraph.
Accommodating is unassertive and cooperative—the alternative of competing. When accommodating, an character neglects his or her personal issues to fulfill the issues of the alternative person; there's an detail of self-sacrifice on this mode.Not best can accommodations assist personnel go back to paintings quicker however they could assist boom worker productivity. After receiving help from their employer, 93% of personnel stated they might carry out their activity effectively.
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Two specific segmentation strategies are to identify either (1) one product or (2) multiple products that can serve
a. One market segment
b. Multiple market segments
c. A single customer
d. All customers
Answers
Multiple market segments is the correct choice of the statement of two specific segmentation strategies are to identify (1) one product or (2) multiple products that can be served
Multiple Market Segments
It is a type of market segmentation that allows a company to offer products or services to different market segments through specific marketing actions. The application of a multi-segment strategy allows the commercial organization to select different ways to position itself in each of the market segments to which it is directed.
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Flexible Spending Accounts (FSAs), also known as reimbursement accounts, are employer-established benefit plans that allow employees to set aside money from their paychecks on a pretax basis to pay for eligible out-of-pocket medical and dependent care expenses.
Answers
It is true that Flexible saving Account (FSA), also known as a reimbursement account, is an employer-initiated benefits plan in which an employee pays for eligible medical and dependent care expenses on a pre-tax basis.
How will the FSA affect my taxes?An FSA is essentially a bank account set aside for out-of-pocket medical expenses. Of course, anyone can set aside money to cover medical expenses, but what's special about the FSA is that you don't have to pay taxes on the money you invest.
What happens to the unused FSA money?Any unused FSA money will be returned to his employer. Funds can be used to offset administrative expenses incurred during the plan year. The employer can also reduce the annual premium for next FSA year. Alternatively, the funds should be shared equally among the employees participating in his FSA for the following year.
What are the disadvantages of FSA?The main drawback is that most FSA accounts tend to have use or loss features. That means he must use all of the FSA's money before the plan's year ends. Failure to do so will result in the loss of FSA funds.
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Which of the following are ways in which to calculate the benefit of selecting one alternative over another?
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An assessment that only evaluates the significant costs and benefits, the differences in the two possibilities' net operating incomes NOI, or an analysis that considers all costs and benefits and recognizes the parts that differ.
Net Operating Income (NOI): What Is It?A computation known as net operating income (NOI) is used to evaluate the profitability of real estate investments that produce income. NOI is the amount of all property profits less all running costs that are assessed to be reasonably justified.
Is revenue the same thing as net operating income?Operating profit is the remaining cash for a business after all costs have been deducted, excluding the cost of debt, taxes, and certain one-time costs. Net income is the profit what stays after all expenses incurred during the period have been eliminated from sales revenue.
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The actual question is:
Which of the following are ways in which to calculate the benefit of selecting one alternative over another?
-An analysis that just looks at the relevant costs/benefits and identifies those that are differential
-the difference between the net operating income for the two alternatives
-an analysis that looks at all costs and benefits and identifies those that are differential
Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: Within the dorm room, the showing of a movie (is not or is) a public good.
If it costs $12 to rent a movie, the roommates should rentmovies in order to maximize the total surplus.
Suppose the roommates choose to rent the optimal number of movies you just indicated and then split the cost of renting equally.
This means that each roommate will pay ____
Answers
The roommates are debating how many movies they should watch.This is the constraint; given that they have to pay to rent each movie.
Find the solution ?Since their dormitory room is the 'cinema', meaning that it's just going to be 4 of them and a private good that they'll pay for; then the showing of a movie is not a public good!.
(10+9+6+3) + (9+7+4+2) + (8+5+2+1) + (7+3+0+0) + (6+1+0+0)
So the sum is 28 + 22 + 16 + 10 + 7 = 83
Now to get the number of movies they should rent if they wish to maximize their total spending, divide the total willingness to pay by the cost for a movie:
83/8 = 10.375
Rounding up to the nearest whole number or in reality, that's 10 movies.
Here, we will use the approximated value 10.
10movies x $8 = $80
Splitting the cost equally, divide by 4
$80 ÷ 4 = $20
Total cost for 5 movies is 8 x 5 = $40
Dividing this by 4, you have $10 per roommate. So a surplus would be the excess of each roommate's TWTP over $10.
TWTP($) CS($)
VAN 40 30
CARLOS 25 15
FELIX 12 2
LARRY 6 -4
That's about to change or satisfaction each roommate receives, the practical problem with this 'solution' is that each roommate has an incentive to reduce the value of the movies to him; and this can only be measured by the efficient number (the number that rates the value each roommate derives from each movie).
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this is a type of investment asset that owns and manages a pool of real estate assets to generate returns for its investors that includes both income-producing properties as well as mortgage loans.
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The type of investment asset that owns and manages a pool of real estate assets to generate returns for its investors that includes both income-producing properties as well as mortgage loans is called Hybrid real estate investment trust.
What is real estate investment trust?A business that owns, manages, or finances income-producing real estate is known as a real estate investment trust (REIT). REITs offer a mutual fund-like investment opportunity that enables regular Americans—rather than just Wall Street, banks, and hedge funds—to gain access to valuable real estate, generate dividend-based income, generate total returns, and support the expansion, prosperity, and revitalization of communities.
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An important feature of supply chain management is its application of sophisticated information technology that allows companies to Multiple Choice share and operate systems for order processing, transportation scheduling, and inventory and facility management. manage supply chains using small, dispersed inventory warehouses. share supply chains that use slower modes of transportation but faster order processing. share supply chains that use the least expensive mode of transportation possible. achieve economies of scale by having all inventory stored and sorted at a central location.
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Management can be defined as a process of getting the work or the task done this is required for achieving the goals of an organization in an green and effective manner. manner implies the features of the management. this is, planning, setting up, staffing, directing and controlling.
In the simplest of terms, business control refers to the coordination and administration of business activities, tasks, and assets to achieve a fixed objective. This often entails supervision and training of staff, overseeing core operations, and designing company infrastructure to optimize for the future.
Simply put, with out managers, companies would fail. Managers play a huge role inside the industry by means of producing growth with high-acting teams. In all, managers will always be a crucial part of any business by playing a role in tasks like decision-making to hiring and training new employees.
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Failure to conduct a _______ opens an organization to the possibility of a negligent hiring suit.
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An organization runs the risk of being sued for negligent hiring if references are not checked.
What does the term "negligence" mean?Negligence is being careless. An important legal term is negligence, which is typically described as failing to exercise the degree of caution that a prudent person would under the circumstances.
What do one call someone who is careless?What sets the term negligent apart from similar adjectives? Lax, inattentive, remiss, and slack are some often used synonyms for negligent. All of these terms pertain to activity that is "culpably careless or symptomatic of such carelessness," but irresponsible denotes disregard for one's obligations or business.
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A corporation reports the following year-end balance sheet data. Calculate the following ratios using the information provided below.
(a) working capital
(b) acid-test ratio
(c) current ratio
(d) debt ratio
(e) equity ratio
(f) debt-to-equity ratio
Cash $ 50,000 Current liabilities $ 64,000
Accounts receivable 35,000 Long-term liabilities 72,000
Inventory 60,000 Common stock 1,00,000
Equipment 140,000 Retained earnings 49,000
Total assets $ 285,000 Total liabilities and equity $ 285,000
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A financial ratio, also known as an accounting ratio, is the difference in magnitude between two specific numbers obtained from the financial accounts of an organization.
What is Financial Ratio ?There are numerous standard ratios that are frequently used in accounting to assess the overall financial health of a firm or other entity.
Given
Cash $ 50,000
Current liabilities $ 64,000
Accounts receivable 35,000
Long-term liabilities 72,000
Inventory 60,000
Common stock 1,00,000
Equipment 140,000
Retained earnings 49,000
Total assets $ 285,000
Total liabilities and equity $ 285,000
(a) working capital = Current Assets - Current Liabilities
[tex]Current Assets = AR + Cash + Inventory \\ = $ 35000 + 50,000 + 60,000\\ = $ 145,000\\\\Working Capital = CA - CL \\\\ = $ 145,000 - 64,000\\ = $ 81,000\\[/tex]
(b) acid-test ratio = Current Assets - Inventory - Prepaid /Current Liabilities
[tex]85000/64000 = 1.33:1\\[/tex]
(c) current ratio = Current Assets / Current Liabilities
[tex]145000/64000 \\= 2.26:1[/tex]
(d) debt ratio = Total Debt / Total Assets
[tex]72000/285000 \\=0.25:1[/tex]
(e) equity ratio = Total Equity / Total Assets
[tex]100,000+49,000 / 285,000\\= 149000/285000\\= 0.523: 1[/tex]
(f) debt-to-equity ratio = Debt / Equity
= [tex]72000/149000\\= 0.48:1\\[/tex]
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In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is:
Send a bank confirmation as of year-end.
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In November, two months before year-end, the bookkeeper erroneously recorded the receipt of a one-year bank loan with a debit to cash and a credit to interest revenue. The most effective method for detecting this type of error is to Send a bank confirmation as of year-end.
A business may additionally have sales in a given time period that includes invoices they have got sent out to customers, in addition to coins bills that have been made at the time of a buy. All of these incomes are included as revenue during that term.
Sales are described as the profits generated through a commercial enterprise' number one operations. Its miles are often known as the “pinnacle line” and are proven at the top of an earnings announcement. internet income is an accounting time period that refers to the entire revenue minus the entire costs for any given length.
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Question 6 (1 point)
To open a bank account you will/may need...... Choose only 5 answers.
Income
Collateral
A deposit
Pokemon Cards
Drivers License
A state issued ID
Insurance
A government issued ID
Answers
To open a bank account, the things that you will / may need are:
IncomeA depositDriver's licenseA state-issued IDA government-issued IDTo set up a bank account, it is recommended that you have a source of funds (income) to deposit into the account and a form of identification to prove who you are. Examples of suitable identification include a driver's license, state ID, and government ID.
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Helppppp
Suki has placed $800 in an account that pays 4 percent interest compounded quarterly. At the end of two years (eight quarters), the balance in the account will be $
. That means Suki will have earned $
in interest during that time. (Round your answers to the nearest cent.)
What will be the balance in the account at the end of two years (eight quarters)? How much interest will Suki have earned during that time? (Round your answers to the nearest cent.
Answers
In other terms, compound interest is interest on principal + interest and refers to the addition of interest to the principal amount of a loan or deposit. Reinvesting interest, or adding it to the lent capital rather than paying it out or requiring payment from the borrower, results in interest being earned on the principal amount plus previously accumulated interest in the next period. In economics and finance, compound interest is common.
In contrast to simple interest, which doesn't compound because past interest isn't added to the principle for the current period, there is compounding with compound interest.
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What is a reason for corporations to use debt in capital financing?
Answers
Preserve company ownership
The main reason that companies choose to finance through debt rather than equity is to preserve company ownership. In equity financing, such as selling common and preferred shares, the investor retains an equity position in the business.
customer records containing names, addresses, phone numbers, and purchase histories would be most likely stored in:
Answers
Customer records containing names, addresses, phone numbers, and purchase histories would be most likely stored in Database Management Systems.
What is Database Management Systems?
Essentially, a database management system (or DBMS) is just a computerised data-keeping system. Users of the system are provided with the ability to carry out a variety of operations on such a system for either managing the database structure itself or manipulating the data in the database.
Database management systems (DBMS), according to Connolly and Begg, are "software systems that enable users to define, create, maintain, and control access to the database." DBMSs include, for instance, Microsoft SQL Server, Oracle Database, MySQL, PostgreSQL, and Microsoft Access.
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The purpose of data quality management is to ensure that data meet characteristics such as accuracy, completeness, accessibility.A. TrueB. False
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It is completely true that the purpose of data quality management is to ensure that data meets characteristics such as accuracy, completeness, accessibility
Data quality managementIt is the set of business practices that involve the use of the right people, processes, and technologies to derive actionable insights from available information, this data quality preparation is an essential step in entity resolution, because it increases the reliability of the resulting resolved entities and detected relationships.
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help help help help help help plsss
Answers
The factor that determines whether a metamorphic rock is foliated or non - foliated, is A. the presence or absence of mineral crystals.
What is the difference between foliated and non - foliated metamorphic rocks ?The majority of the time, foliated rocks have aligned grains of flat minerals like chlorite. When the mineral grains are not arranged in planes or bands, as they are in foliated rocks, the rocks are said to be non-foliated.
Minerals that are platy or elongate and oriented in roughly parallel planes, wavy bands, or both are found in foliated rocks. Nonfoliated rocks may have colored bands that reflect minute impurities, but the primary minerals do not exhibit any obvious alignment.
Therefore, we can tell foliated and non - foliated metamorphic rocks apart, based on the presence of mineral crystals, or the lack thereof.
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True Or False: The explanations for the slopes of the aggregate demand and short-run aggregate supply curves are the same as the explanations for the slopes of demand and supply curves for specific goods and services.
Answers
The mixture grant curve slopes up due to the fact when the charge degree for outputs increases while the fee stage of inputs stays fixed, the probability for extra income encourages greater production.
Why does mixture furnish slope upwards in the short-run?The short-run aggregate furnish curve is upward sloping due to the fact the quantity supplied will increase when the charge rises. In the short-run, corporations have one fixed element of production (usually capital ). When the curve shifts outward the output and real GDP extend at a given price.
What motives the combination grant curve to shift downward?Shifts in the quick run aggregate supply curve are prompted by adjustments in inflationary expectations; changes in employee force and capital inventory availability; changes in government motion (not the identical as authorities expenditure); adjustments in productivity; and furnish shocks.
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https://brainly.com/question/15100476#SPJ4the challenge of occurs when a sustainable product sacrifices attributes of traditional products (such as increased price) in favor of special attributes (such as reduced environmental impact).
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The term actually refers to the four pillars of sustainability, which are human, social, economic, and environmental.
What characteristics characterize sustainable development? Marketing Sustainability Challenges.Lack of awareness of or a lack of comprehension of the advantages of sustainability among company executives, consumers, and other stakeholders.It actually refers to four main areas: human, social, economic, and environmental - known as the four pillars of sustainability. Loss of revenue can also happen, particularly in cases when organizations jump into green initiatives head-on without thorough testing.Human sustainability aims to preserve and enhance society's human capital. According to Janssen and Langen , product labels that mention different aspects of sustainability, such as fair-trade, organic, or carbon footprint, are the most effective way to communicate sustainable attributes to consumers.The number of these labels has dramatically increased during the past few decades.To learn more about sustainable development refer
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8. going public establishes a market value for the firm's stock, and it also ensures that a liquid market will continue to exist for the firm's shares. this is especially true for small firms that are not widely followed by security analysts.
Answers
False, A company's stock gains a market value when it becomes public, and it also guarantees that a liquid market will continue to exist for its shares. This is especially true for small businesses that security specialists do not closely monitor.
Do public offerings create actual market value?A company's stock gains a market value when it becomes public, and it also guarantees that a liquid market will continue to exist for its shares. This is especially true for small businesses that security specialists do not closely monitor.
Which benefits and drawbacks of going public are the most significant?The key benefits are that companies may more easily and quickly raise capital, and public stocks have more liquidity.
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Popcorn consumers that experience diminishing marginal utility will be willing to pay lower prices for more popcorn.
a. true
b. false
Answers
the direct-to-consumer shopping website abc wants to add a coupon box to the checkout page (see the example of a coupon box below), but the marketing team worries that adding a coupon box will cause users who don't have coupons to abandon their shopping basket. the team designs an experiment with the treatment being whether the user sees the coupon box on the checkout page. the experiment randomizes at the user level. the experiment will run for a week, and the experiment sample is a random set of customers who have browsed the website during the week. no actual coupon is issued, and the team will track the dollar amount spent per user during the week of the experiment.
Answers
This experiment will help the team understand if adding the coupon box to the checkout page will cause users to abandon their shopping basket.
What is coupon?The experiment will involve adding a coupon box to the checkout page and measuring whether users are more likely to abandon their shopping basket. To measure the impact of the coupon box, the team will need to track the number of users who abandon the basket before and after the coupon box is added. Additionally, the team should compare the number of users who click on the coupon box and those who take action by entering a coupon code. This will help the team understand if users are actually using the coupon box or if it is simply a distraction. Additionally, the team should track other metrics such as the number of items in the shopping basket and the total amount of the purchase to determine if the coupon box is having an impact on the user's purchase. By tracking these metrics, the team will be able to understand and measure the impact of adding the coupon box to the checkout page.
During the experiment, customers who are in the sample set will be randomly assigned to either the treatment group or the control group. The treatment group will see the coupon box on the checkout page, while the control group will not. The team will observe the dollar amount spent per user during the week of the experiment and compare the results between the two groups to determine the impact of the coupon box on user behavior.
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The team will gain insight from this experiment about whether users would abandon their shopping cart when the coupon box is added to the checkout page.
Coupon – what is it?The checkout page will receive a coupon box as part of the experiment, and it will be determined whether users are far more inclined to abandon our shopping cart as a result. The team will want to keep track of the percentage of users which abandon the basket now since the coupon box is placed in order to assess the effects of the discount box. The group should also compare the proportion of users who tap upon that coupon box to those who actually make a purchase after entering a promo code.
Briefing :Customers inside this sample set will then be randomly assigned here to treating group or a control group for the duration of the experiment. Upon that checkout page, the coupon box will be visible to the treatment group but hidden from the control group. To ascertain the effect of the coupon box effect user behavior, the team will monitor the average dollar amount spent by each user throughout the course of the experiment's week and compared the outcomes of the two groups.
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When working with a family in need, which resources are emphasized whenever possible?
family education services
family food stamp services
family housing services
family preservation services
Answers
Answer: family education services
Explanation: because it will help families to be self-dependent on themselves helping them by getting educated and getting a good source of income.
the medicare component of the fica tax (1.45% on wages) is progressive since the tax due increases as wages increase.a. trueb. false
Answers
The following statement, "The Medicare component of the FICA tax (1.45% on wages) is progressive since the tax due increases as wages increase." is False.
The Social Security Administration (SSA) launched the Medicare national health insurance programme in 1965. The Centers for Medicare and Medicaid Services presently oversees the programme (CMS).
In addition to certain younger persons with disability status as assessed by the SSA, such as those with end-stage renal illness and amyotrophic lateral sclerosis, it primarily provides health insurance for Americans aged 65 and older. According to the 2019 Medicare Trustees Report, more over 59.9 million people received health insurance via Medicare in 2018, including over 52 million seniors and nearly 8 million younger people.
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the probability that a randomly selected visitor to a certain website will be asked to participate in an online survey is 0.40. avery claims that for the next 5 visitors to the site, 2 will be asked to participate in the survey.
Answers
The probability that a randomly selected visitor Because 0.40 represents likelihood in the long run over numerous visits to the site, Avery's interpretation of the probability is incorrect.
What does "probability" mean?
Probability: The possibility of a certain a thing will happen. the proportion between the number of events in a comprehensive list of equally likely options that result in a certain occurrence and the entire number of conceivable outcomes.
Given that the likelihood of a randomly chosen website visitor being asked to participate in an online survey is 0. 40
According to Avery, out of the following 5 users who visit the website, 2 will be requested to complete the survey.
Avery's interpretation of the Likelihood is incorrect because 0.40 indicates the probability over a lengthy period of time and numerous visits to the numbers.
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