The deviations between the actual data points and the fitted values from the model are called ____________________
Fill in the blank(s) with correct word
residuals
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A queuing system has an arrival rate of 5 customers per hour and a service rate of 8 customers per hour. You decide to build a simulation model to describe the service time per customer. The best appropriate distribution to use is:
A) triangular B) exponential C) normal D) binomial E) discrete uniform
Mirabito Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.?InputsStandard Quantity or Hours per Unit of OutputStandard Price or Rate?Direct materials5.0 grams$9.70 per gram?Direct labor0.30 hours$21.20 per hour?Variable manufacturing overhead0.30 hours$9.20 per hourThe company has reported the following actual results for the product for December:?Actual output6,000units?Raw materials purchased31,700grams?Actual price of raw materials$9.00per gram ?Actual cost of raw materials purchased$285,300??Raw materials used in production29,990grams?Actual direct labor-hours1,760hours?Actual direct labor rate$21.90per hour?Actual direct
labor cost$38,544??Actual variable overhead rate$8.80per hour?Actual variable overhead cost$15,488?Required:a. Compute the materials price variance for December.b. Compute the materials quantity variance for December.c. Compute the labor rate variance for December.d. Compute the labor efficiency variance for December.e. Compute the variable overhead rate variance for December.f. Compute the variable overhead efficiency variance for December. What will be an ideal response?
Products often go through channel intermediaries such as _____ and _____.
A. advertisers; testers B. suppliers; strategic partners C. distributors; retailers D. opinion leaders; developers E. customers; competitors
An example of G2C is a(n)
A) employee at the Chamber of Commerce obtaining local demographic data from a U.S. census site. B) driver paying for the renewal of his auto tag online. C) road contractor using the Internet to submit a closed bid on a paving contract. D) regional hospital conducting an online reverse auction for cleaning supplies.