Advertising effectiveness is reliant on targeted marketing, and inaccurate or sparse data can have a detrimental effect on its success.
If ads are targeted at the wrong audience, even the best crafted advertisement can fail to reach its intended recipients. This can result in wasted ad spend, as well as damage to a brand's reputation if ads are targeted at the wrong demographic or location.
Additionally, weak data makes it difficult to measure the success of an advertisement, as it may not be reaching the intended audience, resulting in a lack of response or engagement. This can lead to a lack of understanding of the effectiveness of an ad campaign, making it hard to optimise and improve future campaigns.
To guarantee successful and effective ad campaigns, advertisers must ensure their data is accurate and up-to-date, and that their targeting is based on reliable and comprehensive data.
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Which of the following correctly identifies the five core customer and marketplace concepts?
a. needs, wants, and demands; market offerings; value; satisfaction; and markets
b. needs, wants, and demands; market offerings, value and satisfaction; exchanges and relationships; and markets
c. needs, wants, demands, market offerings, and markets
d. needs, wants, and demands; products; value; customers; and competitors
e. needs, wants, and demands; market offerings; value and satisfaction; competitors; and profits
The five core customer and marketplace concepts are b. needs, wants, and demands; market offerings, value and satisfaction; exchanges and relationships; and markets.
What is marketplace concept?
A marketplace is an online shopping centre where you may find any goods, whenever you need it, from anywhere, and where products from many brands are sold. Marketplaces operate in an easy, efficient, and cost-efficient way. The intention is to make purchasing and selling simple for both buyers and sellers. Online marketplaces are used by businesses to connect with consumers who wish to buy their goods and services. Online marketplaces like Amazon, eBay, and Craigslist are examples.
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You are a senior consultant for McKinsey & Company and you are based out of the Chicago office. You have several clients in Los Angeles that demand regular on-site visits. You have a significant amount of family in the LA area, so you often host diners for your family while working on-site and charge the diners to your corporate account as an entertainment expense. What type of conflict of interest is most illustrated within this scenario?
Group of answer choices
A. Moonlighting.
B. Misusing employer's property.
C. Post-employment.
D. Misuse of inside information.
The correct option is B, The type of conflict of interest most illustrated within this scenario is Misusing employer's property.
Employer's property refers to any type of tangible or intangible assets owned by an organization or company, such as equipment, tools, intellectual property, real estate, or financial assets. These assets are used by the company to carry out its operations and achieve its business goals. The employer's property is intended to be used exclusively for work-related purposes and is typically subject to certain restrictions and policies. The employer's property is also protected under law, and it is illegal to misuse, damage, or steal these assets.
Employees are expected to treat the employer's property with care and respect, and any misuse or damage can result in disciplinary action or even termination of employment. On the other hand, employers are responsible for ensuring that their property is in good working condition, and they should provide the necessary training and equipment to employees to ensure the safe and efficient use of these assets. Overall, the concept of employer's property is an important aspect of workplace culture and helps to ensure that businesses are able to operate effectively and achieve their goals.
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Which of the following statements is true based on the production possibilities frontier (PPF) below?
Choose one:
A. If an improved process for manufacturing cars is introduced, the entire PPF will shift outward.
B. If society experiences a substantial increase in unemployment, the PPF shifts inward.
C. Point A represents an inefficient level of production.
D. The movement along the curve from point A to point B shows the opportunity cost of producing more cars.
Option (d), The opportunity cost of creating additional automobiles is represented by the path along the curve from point A to point B.
A production potential frontier (PPF) is what, exactly? Explain?The graph referred to as the Production Possibilities Frontier (PPF) depicts all the output combinations of two things that can be produced using the available resources and technological advancements.
The PPF is a curve that is based on data of two variables that reflect resources between two items. Since the data can be adjusted, it can be examined how problems like scarcity, growth, inefficiency, and other factors could affect production.
What does opportunity cost mean in a nutshell?In economics, opportunity costs are the benefits that are given up when selecting one course of action over another. It is, in essence, the value of the untraveled path. Although it is easy to overlook opportunity costs, understanding the worth of missed opportunities is essential for making more informed business decisions.
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if rogers, incorporated, has an equity multiplier of 1.60, total asset turnover of 2.20, and a profit margin of 4 percent, what is its roe? (
The Correct answer is
The calculated ROE (Return of Equity) is 14.08.
Return on equity is the proportion of a company's net income to its shareholders' equity (ROE). Return on equity is a metric used to assess a company's financial performance and the efficiency of its revenue generating (ROE). The greater the ROE, the better a company is in converting equity investment into profits.If a company's net income and equity are both positive numbers, it may calculate its ROE in percentage form. Net income is calculated before dividends are paid to preferred shareholders, common shareholders, and lenders
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by matching revenue earned during the accounting period to related incurred expenses,
Answer: net income or loss will be properly reported on the income statement.
The accounting rules prescribed that there should be match between the earning of revenue and the incurrence of expenses. That is, to record the amount of revenue at the time these are earned, regardless of these are collected or not, and to record the amount of expenses at the time these are incurred, regardless of these are already paid or not. These amount are both reported in the income statement.
In order to appropriately reflect net income or loss on the income statement, (A) revenue received during the accounting period will be matched with pertinent incurred expenses.
What is revenue?Revenue in accounting refers to the entire amount of money made through the sale of products and services that are essential to the company's core operations.
Sales or turnover are other terms used to describe commercial revenue.
Some businesses make money from royalties, interest, or other fees.
As in "Last year, Company X had revenue of $42 million," the term "revenue" can refer to either general income or the sum of money earned during a specific period of time.
The general definition of profits or net income is total revenue less total expenses for a specific time period.
Net income or loss will be accurately represented on the income statement by matching revenue collected during the accounting period to relevant incurred expenses.
Therefore, in order to appropriately reflect net income or loss on the income statement, (A) revenue received during the accounting period will be matched with pertinent incurred expenses.
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Complete question:
By matching revenue earned during the accounting period to related incurred expenses,
a. net income or loss will be properly reported on the income statement
b. net income or loss will always be overestimated
c. net income or loss will not be determined
d. net income or loss will always be underestimated
refer to table 17-1. if the market for water were perfectly competitive instead of monopolistic, how many gallons of water would be produced and sold? a. 900 gallons b. 1,200 gallons c. 0 gallons d. 600 gallons
The correct response is b. 1,200. 1200 gallons of water will be produced and sold.
An object that exists in the gaseous, liquid, and solid states and is made up of the chemical components hydrogen and oxygen. One of the most prevalent and necessary substances is this chemical. It is a colourless, tasteless, and odourless liquid that is crucial for dissolving numerous other compounds. We only have a three to five day survival time without fluids because approximately 60% of our body is made up of water. Water plays several other important functions in the body, including flushing out waste, regulating body temperature, delivering nutrients, and being necessary for digestion. Because of its low viscosity, or the fact that its molecules are only loosely bound together, water is moist in the sense of being a liquid that flows smoothly.
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in a production possibilities frontier diagram, the attainable production points are shown as:
In a production possibilities frontier diagram, attainable production points are shown as points inside and points on production possibilities frontier.
What is a production-possibility frontier?A production-possibility frontier (PPF), production possibility curve (PPC), or production possibility dividing line (PPB) is a graphical representation of all the output options for two goods that can be produced using all factors of production, with resources being used fully and efficiently per unit time. This tradeoff is often considered while examining an economy, but it also applies to every individual, family, and economic unit. The only way to manufacture one good is to make less of the others and divert resources from their production. The maximal output level of one commodity for any given production level of another, given the state of technology at the moment, is shown by the PPF curve, which graphically restricts the production set for fixed input amounts.
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the thompson spring company has developed a separate marketing strategy for each of the industries that uses its products. these industries include makers of machine tools, bicycles, surgical devices, telephones, and missile systems. this provides an illustration of segmentation on the basis of: a. type of buying situation. b. the structure of procurement. c. product application. d. key decision criteria. e. usage rate.
In the given situation this serves as an example of (C) product application-based segmentation.
What is product application?Product Application refers to any official application owned by a Party to the proper GRB pursuant to applicable laws that seeks clearance to manufacture, market, and sell the Finished Products within a given country or territory, including any Abbreviated New Drug Application.
Say a business is releasing a new item, a GPS-enabled dog collar.
To make sure the collar satisfies consumer needs and stands out in the competitive collar market, a product marketer has already worked on user and market research.
Therefore, in the given situation this serves as an example of (C) product application-based segmentation.
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what is the capacity rate (in bbl/hr) of each kiwanee dumper?
A Kiwanee dumper is a type of dump truck used in the transportation of materials such as coal, rock, sand, and soil.
The capacity rate of a Kiwanee dumper is the amount of material it can carry in a given period, usually measured in barrels per hour (bbl/hr).
The capacity rate is typically determined by the volume of the truck's dump box, which is the area where the material is loaded. A standard Kiwanee dumper typically has a capacity rate of around 30 to 40 barrels per hour, although this can vary depending on the specific model and any modifications that have been made to the truck.
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will you now or in the future require sponsorship for a visa to remain in the united states? * internship
Yes, you will now or in the future require sponsorship for a visa to remain in the United States.
What is Visa sponsorship?
Visa sponsorship occurs when a relative, group, or organization fights for a person's visa. When you apply for a visa, it indicates that you have a supporter who is in favor of your entry into the United States for the specified reasons. Before applying, it is crucial to confirm whether this visa is required by reviewing the visa requirements. A sponsor for your visa means that they will be accountable to you for your behavior while you are in their nation. In essence, the sponsor is requesting permission for the guest to enter the country through a petition.
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When the quantity demanded equals quantity supplied?
The market is said to be in equilibrium when the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers. At this point, the forces of supply and demand are in balance and there is no excess supply or excess demand in the market.
When the quantity demanded equals quantity supplied?Here are some key points to keep in mind when considering the concept of market equilibrium:Equilibrium price: At the equilibrium point, the price of the good or service is such that consumers are willing to buy the quantity that producers are willing to sell. This price is referred to as the equilibrium price.No market forces: In a market that is in equilibrium, there are no market forces that would cause either the price or the quantity of the good or service to change.No excess supply or demand: When the market is in equilibrium, there is no excess supply or excess demand, meaning that there are no unsold goods or unsatisfied consumers.Balances supply and demand: Market equilibrium balances the forces of supply and demand, ensuring that the market is functioning efficiently.Overall, market equilibrium is a state of balance between the supply and demand of a good or service, where the price and quantity are in agreement, and there are no market forces acting to change this balance.To learn more about quantity refer:
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The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are normally distributed. Suppose a portfolio has an average annual return of 14. 7% (i. E. An average gain of 14. 7%) with a standard deviation of 33%. A return of 0% means the value of the portfolio doesn’t change, a negative return means that the portfolio loses money, and a positive return means that the portfolio gains money. (a) What percent of years does this portfolio lose money, i. E. Have a return less than 0%? (b) What is the cutoff for the highest 15% of annual returns with this portfolio?
a) in about 32.8% of years, this portfolio will have negative return. b) 15% of the returns will be 48.9% or higher.
The relationship between systemic risk, or the general dangers of investing, and expected return for assets, particularly equities, is described by the Capital Asset Pricing Model (CAPM). A linear link between the needed return on an investment and risk is established by this financial model. The basis of the model is the relationship between the beta of an asset, the risk-free rate (often the interest rate on Treasury bills), and the equity risk premium, or the expected return on the market less the risk-free rate. The CAPM was created to quantify this systematic risk. It is frequently used in the financial industry to value hazardous securities and calculate projected returns for assets given their risk and cost of capital.
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emtala was passed in 1986 and is part of which of the following? a. hipaa b. oig supplemental compliance program guidance c. the consolidated omnibus budget reconciliation act d. the civil rights act.
The correct response is c. the consolidated omnibus budget reconciliation act.
A budget is a financial plan for distributing resources, determining how much money should be spent overall by the federal government, program by program, and for each component of each program, as well as how to finance the spending. As a preeminent international supplier of mobility solutions, Avis Budget Group manages three of the most recognizable brands in the sector: Avis, Budget, and Zipcar. A government's budget is an overview or plan of the anticipated income (often but not always from taxes) and expenses of that government. There are three different sorts of government budgets: operating or current, capital or investment, and cash or cash flow.
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why is predictive analytics analysis the next logical step in any business analytics (ba) process
Predictive analytics is the next logical step in business analytics (BA) process because it provides organizations with the ability to make informed decisions based on future predictions.
Unlike traditional BA which focuses on analyzing past data to understand trends and patterns, predictive analytics uses statistical algorithms and machine learning models to make predictions about future outcomes. This approach helps businesses to identify potential risks and opportunities, improve operations, and increase profits.
Additionally, predictive analytics allows companies to automate decision-making processes and provide real-time insights. With the growing amount of data generated by businesses, predictive analytics has become increasingly important to support data-driven decision making.
Predictive analytics can help organizations anticipate customer behavior, detect fraud, predict equipment failures, and forecast sales.
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wendy is a single taxpayer with adjusted gross income of $92,300 for tax year 2020. she has rental income of $55,000 and rental expenses of $80,000. what can wendy report on her tax return given this situation?
Wendy's tax return must include information on her rental earnings and costs. As rental income is taxable, Wendy will report the $55,000 of rental income on her return.
She will then be able to use the $80,000 of rental expenses to deduct from her rental income, resulting in a net rental loss of $25,000. This amount can be used to reduce Wendy's adjusted gross income to $67,300.
Additionally, Wendy can use the rental loss to reduce her overall tax liability by completing Form 8582, although the amount she can deduct is limited to the lesser of the rental loss or her adjusted gross income.
In this case, Wendy can only deduct $25,000, bringing her taxable income to $67,300. Since her adjusted gross income is below the threshold for the 2020 tax year, Wendy will not owe any federal income tax. It is important that Wendy maintains accurate records of her rental income and expenses for the tax year, as she may be asked to provide documentation to the IRS.
Additionally, the rental losses cannot be carried forward or back to other tax years, so must be used to reduce Wendy's taxable income in the current year.
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Which of the following statements is NOT true about equity.
Shareholders with equity are promised particular payments.
If a firm is successful, the value of equity will increase; if not it will decrease.
Shareholders with equity receive any dividends the firm may pay and have prorated ownership in the real assets of the firm.
Equity investments tend to be riskier than investments in debt securities.
Option 3 is Correct. The following statements concerning equity are FALSE: Shareholders with equity have proportionate ownership in the company's real assets and are eligible for any dividends the company may pay.
Describe the shareholder equity statements.An accounting document that is included in a company's balance sheet is the statement of shareholders' equity. It draws attention to changes in equity, or ownership interest in a firm, valued at stockholders or shareholders from the start to the end of a specific accounting period.
It demonstrates that the stock issuances and dividend payments made by an organization are accurate according to the stockholders' equity statement.
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Correct Question:
Which of the following statements is NOT true about equity.
1. Shareholders with equity are promised particular payments.
2. If a firm is successful, the value of equity will increase; if not it will decrease.
3. Shareholders with equity receive any dividends the firm may pay and have prorated ownership in the real assets of the firm.
4. Equity investments tend to be riskier than investments in debt securities.
On January 1, 2021, Darnell Window and Pane issued $19. 7 million of 10-year, zero-coupon bonds for $6,938,034. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. ) Required: 2. Determine the effective rate of interest. 1
The effective rate of interest of the bond in 2021 is 11%.
What does effective interest rate mean?When the effects of compounding over time are considered, an effective annual interest rate is the real return on a savings account or any interest-paying investment. It also reflects the actual percentage rate of interest owed on a loan, credit card, or other debt.
The formula for effective interest rate is {(Face value of bonds / Issue value of bonds)^((1/Time of maturity) - 1}. Where: Face value of bonds = $19.7 million, Issue value of bonds = $6,938,034, Time of maturity = 10.
The computation of our effective interest rate goes as:
= [($19,700,000/ $6,938,034)^(1/10) - 1]
= 1.11 - 1
= 0.11
= 11%
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When new-to-the-world products are better, faster versions of existing products that target, for the most part, existing customers, it is said that these products are ___________.A. Neo innovationsB. Subtle innovationsC. Left-handed innovationsD. Sustaining innovationsE. None of these
Option - D : When new-to-the-world products are better, faster versions of existing products that target, for the most part, existing customers, it is said that these products are Sustaining innovations .
When a business develops better-performing products to market to its most profitable clients for bigger profits, it is engaging in sustained innovation. Sustaining innovation is typically a tactic utilised by businesses that have already found success in their markets.
In order to satisfy demand and integrate new technology, mobile phone manufacturers (such as Apple, Samsung, Huawei, Amazon, LG, etc.) offer updated and improved products on a yearly basis. The smartphone market is one example of sustaining innovation.
A sustaining innovation enhances already-available goods. It improves existing markets with better value rather than creating new ones or value markets, allowing businesses to compete against one another's continual advancements. New products and services, new distribution channels, new support and manufacturing technology, or geographic expansions are typical instances of sustaining innovation. Sustainable innovation entails purposeful modifications to a company's goods,
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what is the final price you must pay, including tax, if you purchase an item for $17 with a sales tax of 4% ?
The final price you must pay, including tax, is $17.68.
To calculate the final price you must pay, including tax, for a purchase of $17 with a sales tax of 4%, you need to first find the amount of the sales tax by multiplying $17 by 4%:
$17 * 0.04 = $0.68
Next, add the amount of the sales tax to the original price of the item to find the final price:
$17 + $0.68 = $17.68
So, $17.68 is the final price you need to pay.
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jose wants to buy a new large screen tv. the electronics has a special on the model he wants and offers same-day delivery if he uses his store rewards card. an online retailer is offering the same, and if he uses their credit card, he can get 10%off. why might jose have decided to buy from the electronics store when the same tv available for less money from the online retailer? brainly
Examples of IMC help for sales promotions include: Weekly e-mail messages to consumers informing them about the week's sales, exclusive offers, and coupons. Promotional information on a Web website online informing customers about the availability of a rebate or different special offer.
What is an example of IMC marketing?One of the most impactful integrated marketing communications examples is GoPro: Be a Hero campaign. The video digital camera brand used to be searching to create content that associated to people no depend who they were. The initial idea, however, was focused at excessive professional athletes.
The 4P's make up the ordinary advertising mix and it includes Product, Place, Price and Promotion
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https://brainly.com/question/30389494#SPJ41. a transaction to record merchandise purchased with a trade discount would include a debit to merchandise discount. TRUE OR FALSE
Answer:
true
Explanation:
..........................
Q 4. 25: in december 2018, connoisseur catering provides all the food, drinks, and waitstaff for ace industries' annual holiday party. Connoisseur's total expenses related to this job are $9,000. Connoisseur bills ace $15,000 for the job but does not receive payment until january 15, 2019. Connoisseur opts to record all revenues and expenses related to this job on a cash basis rather than an accrual basis. In this scenario, connoisseur will show
In this scenario, the connoisseur will show a revenue of $15,000 and an expense of $9,000 in 2018, as they recorded the transaction on a cash basis.
On a cash basis of accounting, transactions are recorded when the cash is received or disbursed, rather than when the goods or services are provided. In this case, Connoisseur Catering provided the food, drinks, and waitstaff for Ace Industries' annual holiday party in December 2018. However, they did not receive payment until January 15, 2019. Therefore, under the cash basis of accounting, Connoisseur Catering will recognize the $15,000 in revenue in its financial statements for 2018, when the payment was received. They will also recognize the $9,000 expense in their financial statements for 2018 when the payment was made.
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total manufacturing costs incurred during the year do not include:
The total manufacturing costs incurred during the year do not include Direct labor
The expenses incurred during creation of a product are known as manufacturing costs. Direct material and manufacturing overhead expenditures are included in these expenses. Normally, the costs are shown as separate line in the revenue statement. These expenses are incurred by an organization during the production process.
Materials, labor, and overhead are the three main key areas of costs in the manufacturing industry.
"Total manufacturing costs incurred during the year do not include: * O Direct labor. Depreciation of machinery. O Direct materials used. Factory supplies used. Goods in process inventory, beginning balance."
Hence, Depreciation of machinery is not included in total manufacturing costs incurred during the year.
Therefore, the correct answer will be option (a)
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The given question is incomplete, the complete question is:
Total manufacturing costs incurred during the year do not include:
A. Direct labor.
B. Depreciation of machinery.
C. Direct materials used.
D. Factory supplies
The structure of the AICPA _______________ includes four major sections: preface, rules for members in public practice, rules for members in business, and rules for other members.
A. Code of Professional Conduct
B. Conceptual Framework
C. Independence Rules
D. Rules of Conduct
The structure of the AICPA Code of Professional Conduct includes four major sections: preface, rules for members in public practice, rules for members in business, and rules for other members. In this case option A is correct
A code of professional conduct is a requirement for any profession in order to uphold standards to which its members must adhere. It fosters responsibility, trust, and accountability in the people the profession works with.
The ethical code of conduct for interpreters was initially co-written by RID and the National Association of the Deaf (NAD). The seven tenets, which are followed by guiding principles and examples, form the basis of this code of conduct.
The principles should be taken as a whole and used as a manual for all aspects of professional conduct. One should always refer to the tenet's explicit language if in doubt.
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bob believes that earth is flat. he has joined several online organizations that share his views and spends time watching online videos that provide evidence to support his view of a flat earth. his use of the internet has strengthened his views as a result of
His use of the internet has strengthened his views as a result of social contagion.
What is social contagion?
The imitation and conformity-based transmission of concepts, viewpoints, or behavioral patterns within a group. Social contagion is significantly impacted by the user interface's message exposure position. Since the late 19th century, social scientists have studied the phenomena, albeit precise definitions have varied because most of the research on the topic was based on ambiguous or even contradictory ideas about what social contagion is. In general, social contagion is thought to be distinct from the group behavior that happens as a direct result of social influence.
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a questionnaire of car owners asks, what do you like most about your car? what type of survey question is this?
The freedom to take the wheel, go wherever you want, whenever you want, and without anything or anyone getting in your way. These are in-person polls.
With the aid of this nonprobability sampling strategy, researchers put together a sample of individuals who fairly represent a particular group. By employing quota sampling, you may make sure that the survey results closely mirror your target demographic. Random samples are the best technique to select your sample from the target population.
Your sample should be representative of the target population, and sampling bias has to be removed. While the units are normally picked by the interviewer in quota sampling, a non-random method is used in probability sampling, where the units are typically chosen at random.
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which of the following is an example of raw data from an automobile manufacturer? group of answer choices an average of 120 subarus sold daily in new york in 2016 1,200 subaru outbacks sold during the first quarter 2016 in new york one subaru outback sold july 27, 2016 in mohegan lake, new york for $24,000 annual sales of subaru outbacks increased 5.3 percent an average sale price of $25,500 for all subaru outbacks sold during july 2016 in mohegan lake, new york
Option 2 is Correct. One Subaru Outback was sold for $25,000 on January 7, 2017, in Mount Kisco, New York.
Every organization has an information value chain where raw data is methodically collected, manipulated, and put through additional processes to create value. As a result, the term "data processing" refers to the act of turning raw data into information.
In most cases, the term "raw data" refers to data tables with each row containing an observation and each column denoting a variable that characterizes a characteristic of each observation. This type of data is also known as flat data, primary data, atomic data, clean data, and unit record data. Raw data is a term that is sometimes used to describe unprocessed data.
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Correct Question:
Which of the following is an example of raw data from an automobile manufacturer? group of answer choices
1. an average of 120 subarus sold daily in new york in 2016 1,200
2. subaru outbacks sold during the first quarter 2016 in new york one subaru outback sold july 27, 2016 in mohegan lake,
3. new york for $24,000 annual sales of subaru outbacks increased 5.3 percent
4. an average sale price of $25,500 for all subaru outbacks sold during july 2016 in mohegan lake, new york.
please daw a correctly labled and supply raph for the market for bottled water
The graph of labelled and supply for the marketed for bottled water is in the attachment.
Following a remarkable, more than two-decade-long streak of brisk expansion, bottled water maintained its position as the leading beverage category by volume in the United States in 2019. The Beverage Marketing Corporation (BMC) reports that the overall volume of bottled water increased by almost 4% from 13.8 billion gallons in 2018 to 14.4 billion gallons in 2019. From 1977 to 2019, the volume of bottled water has climbed every year, with the exception of a few minor decreases in the Great Recession years of 2008 and 2009, when most other beverage categories also experienced declines because of the financial crisis. Consumers perceive bottled water as a healthier substitute for other packaged beverages, as evidenced by the continued growth in per capita consumption.
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Some students attend fsu, and other students attend uf. suppose tuition at uf rises from $7,000 per year to $15,000 per year. what will happen with the demand curve for fsu?
Some students go to fsu, while others go to uf. Suppose UF's annual tuition increases to $15,000 from $7,000 When UF's tuition increases, enrollment at UF may decline.
While enrollment at FSU may climb as students choose a more inexpensive option. As a result, there may be a rightward shift in the demand curve for FSU, indicating an increase in demand.
The relationship between the cost of a commodity or service and the amount of that good or service that consumers are willing and able to buy is represented graphically by the demand curve. The downward sloping demand curve illustrates how demand falls as price of a good or service rises and vice versa.
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now in another scenario, the farmer chooses to supply apples or oranges. the price of apples went down, which means that the opportunity cost of supplying oranges becomes lower. how will this affect the supply curve of oranges? what about the equilibrium price and quantity?
When the price of apples decreases, the opportunity cost of supplying oranges becomes lower, meaning that the farmer may choose to shift some resources from apple production to orange production. As a result, the supply of oranges will increase, leading to a shift in the supply curve for oranges to the right.
What is the effect of the equilibrium price and quantityThe effect on the equilibrium price and quantity of oranges depends on the responsiveness of the supply and demand for oranges. If the increase in supply of oranges is larger than the increase in demand for oranges, the equilibrium price of oranges will decrease, and the equilibrium quantity will increase. However, if the increase in demand for oranges is larger than the increase in supply, the equilibrium price of oranges will increase, and the equilibrium quantity will decrease.
In either case, the change in the price of apples will have a direct impact on the supply of oranges and the market equilibrium, as the opportunity cost of producing oranges changes. This highlights the interdependence of different goods in an economy and how changes in the price of one good can have ripple effects on the supply and demand for other goods.
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