An efficiency expert makes periodic checks for weighting errors for a long distance shipping firm. The expert inspects for errors in weighing, in recording weights, and errors in processing the bills of lading. Based on past records, the number of
weekly errors for all shipments averages 5.30 with a standard deviation of 1.23, and the frequency histogram approximates a normal distribution. Suppose x is the number of weighing errors that will occur next week. Compute the approximate probability for (4 ? x ? 7).
0.8912
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Rick Johnson trains his company's sales force to go after the consumer
He repeatedly asks his team to bear in mind the essential fact that it is the sales team's responsibility to rouse the consumer's interest and make him feel that he needs the product. A true salesman is one who can convert an indifferent consumer walking into the store into a new customer. Johnson believes in the ________ concept. A) product B) production C) selling D) marketing E) social responsibility
Winston ordered fifty 7-inch tablets from One Tech Solutions, a wholesaler. The terms of the sale were cash on delivery. When Winston received the goods, he could see without inspection that they were fifty 9-inch tablets and not what he had ordered. Under these circumstances, ________.
A. Winston must accept the order but is entitled to a discount of the purchase B. Winston is entitled to receive the shipment without paying for it because of the seller's breach of contract C. Winston cannot reject the order because the terms of the purchase were cash on delivery D. Winston may reject the tablets without making any payment
Which of the following is a drawback of the payback period?
A) it ignores a project's total profitability B) it uses a set discount rate C) it considers total profitability, requiring the forecasting of all future cash flows D) it uses before-tax cash flows rather than after-tax cash flows E) it uses operating income rather than cash flows
With the regression function, the area of variation that represents unexplained changes is
A) economic. B) seasonal. C) noise. D) cyclical. E) trend line.