The product moment correlation helps us determine the strength of the association between two metric variables. Regression analysis helps us determine which variables cause a change in other variables
Indicate whether the statement is true or false
FALSE
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What are the challenges of the international trading system?
What will be an ideal response?
Which of the following is true about revised U.S. patent laws?
A) Patents are valid for 17 years after the patent is granted. B) Patents are valid for 17 years after the patent is filed. C) Patents are valid for 20 years after the patent is granted. D) Patents are valid for 20 years after the filing date of the application. E) Patents are valid as long as the product is manufactured.
A company uses the following standard costs to produce a single unit of output. ? Direct materials6 pounds at $0.90 per pound=$5.40 Direct labor0.5 hour at $12.00 per hour=$6.00 Manufacturing overhead0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor rate variance for the month was:
A. $3,650 unfavorable B. $3,650 favorable C. $1,200 favorable D. $2,450 favorable E. $1,200 unfavorable
In international trade, dumping refers to
A. a firm selling a product in a foreign country below its domestic price or below its actual cost. B. a firm selling damaged or unsalable goods below their original production cost. C. illegally disposing of unusable or damaged goods to avoid paying removal fees and/or taxes. D. a firm selling quality goods at significantly lower prices for the primary purpose of reducing inventory to make room for seasonal goods. E. a firm selling quality goods at significantly lower prices for the primary purpose of reducing inventory to make room for newer or more expensive models.