Which statement is not true concerning a standard test market?
A) It is a one-shot case study.
B) Test markets are selected and the product is sold through regular distribution channels.
C) Where external validity is important, at least four test markets should be used.
D) All statements are correct.
D
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When a testator provides for a bequest of his gold watch to his nephew, but the gold watch is not owned by the testator at the time of death: __________
A) the nephew is entitled to an equivalent amount of cash. B) the executor must purchase a similar gold watch for the nephew if funds are available. C) the bequest to the nephew fails by ademption. D) all legacies in the estate abate to provide funds to purchase a gold watch for the nephew.
Exhibit 6-1 ? The following table is a view of BILLING_HOURS from the various data elements in High-Tech Corp.'s relational database. ? BILLING_HOURS Employee_No Client_No Date Hours Billing_Rate ? B122 F26768 20010823 8 150 ? A632 F11555 20010823 7 100 ? B122 F26768 20010824 8 150 ? A632 F11555 20010824 6 100 ? B122 F26768 20010825 9 150 ? A632 F11555 20010825 10 100 ? Refer to Exhibit 6-1. Which of the following SQL statements would extract the employee number and date for every instance that an employee worked more than 8 hours any particular day?
A. SELECT Employee_No, DateFROM BILLING_HOURSWHERE Hours>8 B. QUERY Employee_No, DateFROM BILLING_HOURSWHERE Hours>8 C. SELECT Employee_No, DateWHERE Hours>8 D. QUERY BILLING_HOURSSELECT Employee_No, DateWHERE Hours>8
Criteria are goals and objectives that decision makers establish to achieve certain performance levels
Indicate whether the statement is true or false
Clifford Co. manufactures and sells adjustable windows for remodeling homes and new housing. Clifford developed its budget for the current year assuming that the windows would sell at a price of $500 each. The variable costs for each window were forecasted to be $250 and the annual fixed costs were forecasted to be $130,000. Clifford had targeted a profit of $450,000.While Clifford's sales usually increase during the second quarter, the May financial statements reported that sales were not meeting expectations. For the first five months of the year, only 400 units had been sold at the established price, with variable cost as planned, and it was clear that the target profit for the year would not be reached unless some actions were taken. Clifford's president assigned a management
committee to analyze the situation and develop several alternative courses of action. The following three alternatives were presented to the president, only one of which can be selected.? Reduce the selling price by $50. The marketing department forecasts that with the lower price, 3,200 units could be sold during the remainder of the year. ? Lower variable costs per unit by $30 through the use of less expensive materials. Because of the difference in materials, the selling price would have to be lowered by $40 and sales of 2,600 units for the remainder of the year are forecast. ? Cut fixed costs by $15,000 and lower the selling price by 5 percent. Sales of 2,200 units would be expected for the remainder of the year. Required:a. If no changes are made to the selling price or cost structure, estimate the number of units that must be sold during the year to break-even.b. If no changes are made to the selling price or cost structure, estimate the number of units that must be sold during the year to attain the target profit of $450,000.c. Determine which of the alternatives Clifford's president should select to maximize profit. What will be an ideal response?