If you wanted to compute the correlation between two interval-level variables, which type of correlation should you use?
a.Point biserial
b.Phi
c.Spearman rank
d.Pearson
ANS:D
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If there is no policy action in an economy that is producing an output below its full-employment level, then
A. the output returns to full-employment level quickly. B. the price level declines slowly. C. the price level rises quickly. D. the output stays below full-employment for a short period, then rises quickly.
A service firm will usually have a low amount of inventory, consisting primarily of supplies
Indicate whether the statement is true or false
Introducing a new product to an established market segment through a unique positioning requires a thorough understanding of market competitors and their products
Indicate whether the statement is true or false
Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:a.The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. b.Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. c.The ending finished goods inventory equals 20% of the following month's sales. d.The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound. e.Regarding raw materials purchases, 30% are paid for in the month
of purchase and 70% in the following month. f.The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours. g.The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000. The budgeted required production for May is closest to: A. 13,260 units B. 11,160 units C. 15,360 units D. 10,500 units