Which of the following statements is true if the standard deviation of a process is .02 and the
average is 1?
A) The specification limits are ± .02.
B) The upper control limit is 1.02.
C) About 68.3% of the output will be within 1± .02.
D) All of the above are true.
E) None of the above is true.
C
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Martin wishes to earn $4000 of operating profit each month. Calculate the number of guitars Martin will need to sell to achieve the target profit. (Round your answer up to the nearest whole guitar.)
Martin was a professional classical guitar player until a motorcycle accident left him disabled. After
long months of therapy, he hired an experienced luthier and started a small shop to make and sell
Spanish guitars. The guitars sell for $900, and the fixed monthly operating costs are as follows:
Martin's accountant told him about contribution margin ratios, and Martin understood clearly that for every
dollar of sales, $0.65 went to cover his fixed costs, and anything above that point was profit.
A) 3 guitars
B) 12 guitars
C) 4 guitars
D) 13 guitars
The Other Accounts column in the Cash Receipts journal is used for recording debits to any account for which there is no special debit column
Indicate whether the statement is true or false
A utility curve showing utility increasing at an increasing rate as the monetary value increases represents
A) a risk avoider. B) utility assessment. C) a risk seeker. D) conditional values. E) expected utilities.
A periodic inventory system has constant order sizes and order intervals
Indicate whether this statement is true or false.