Explain the major differences between a bar chart and a histogram, including when to use each.
What will be an ideal response?
There are two primary differences. First, visually, the bars touch (there are no gaps between bars). Second, the bars in a bar chart represent discrete values whereas the bars in a histogram are really bins (ranges of values). We use bar charts for qualitative variables and histograms for quantitative variables.
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Ending merchandise inventory for LIFO will be the same dollar amount under a periodic inventory system as under a perpetual inventory system
Indicate whether the statement is true or false
Under a modified wage plan, Jim Phillips works an eight-hour day and earns $.50 for each finished unit he produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum wage.
His production this week was as follows: Monday 220 units Tuesday 180 units Wednesday 200 units Thursday 200 units Friday 190 units What were Jim’s total earnings this week? a. 5 b. 10 c. 15 d. 12.5
The process of learning how companies rely on a network of suppliers to add value to their offerings, integrate purchasing activities with those functional areas and outside firms, and make purchase decisions is _______
a. understanding firms as customers b. supply chain development c. customer relationship management d. market sensing
Which is correct?
a. Jeremy, were you at the concert? b. Jeremy, was you at the concert?