Use the following random numbers to simulation crop yield for 10 years: 37, 23, 92, 01, 69, 50, 72, 12, 46, 81. What is the estimated crop yield from the simulation?
The U.S. Department of Agriculture estimates that the yearly yield of limes per acre is distributed as follows:
Yield, bushels per acre Probability
350 .10
400 .18
450 .50
500 .22
The estimated average price per bushel is $16.80.
A) 425
B) 442
C) 440
D) 475
Answer: C
You might also like to view...
The justification for the accrual basis of accounting lies in the needs of financial statement users for periodic information on the financial position and the profitability of the entity
a. True b. False Indicate whether the statement is true or false
The infancy doctrine binds an adult to a minor's decision on a contract
Indicate whether the statement is true or false
Predetermined overhead rates are calculated before the start of the accounting period, and are therefore based on estimates.
Answer the following statement true (T) or false (F)
The streamlining of business processes to reduce costs is key to competitive strategy.
Answer the following statement true (T) or false (F)