The Bayesian approach to sampling is theoretically appealing, however, it is not widely used in marketing research because much of the required information on costs and probabilities is not available
Indicate whether the statement is true or false
TRUE
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The term incremental cost refers to
A) the difference in total costs between alternatives. B) a cost that does not entail any dollar outlay but that is relevant to the decision-making process. C) the profit forgone by selecting one choice instead of another. D) a cost that constitutes expenses to be incurred even though there is no activity.
Ligon Enterprises has prepared a production budget for October. Management has determined that the total required production for October is 800,000 units when an ending inventory of 10,000 units is desired and the beginning inventory is 6,000 units. Based on the above information, what were October's budgeted sales?
A) 806,000 units B) 796,000 units C) 804,000 units D) 794,000 units
______ is a forecasting method in which it is assumed that the demand in the next period will be the same as it is in the current period.
a. Moving average b. Naïve approach c. Simple average d. Sales force opinion
You won the state lottery and took the payout as a $1,283,475 lump sum today. Your spouse has decided that you need to invest this money for the next 10 years and can expect it to earn an average annual rate of return of 7.18%
If this comes to pass, how much money will be in the account at the end of the period? A) $8,471,253 B) $2,567,586 C) $1,920,388 D) $1,890,471