Price elasticity is almost always a negative number due to the inverse relationship between price and volume
Indicate whether the statement is true or false
TRUE
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What is retailing? Explain the concept of shopper marketing
What will be an ideal response?
The random variable x has the following probability distribution: x f(x) 0 .25 1 .20 2 .15 3 .25 4 .15 ? a.Is this probability distribution valid? Explain and list the requirements for a valid probability distribution.b.Calculate the expected value of x.c.Calculate the variance of x.d.Calculate the standard deviation of x.
What will be an ideal response?
Salespeople should persist if the first effort to close is rejected, as this type of buyer admires persistence. Which communication style does this buyer have?
A) directive B) rational C) supportive D) emotive E) reflective
Record keeping in a standard costing system is simplified because all units transferred out of a department are valued at:
a. Budgeted costs. b. Standard production cost for each component. c. Normal costs. d. Actual production costs.