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Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car. We can often capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon. Discuss the following:
Question 1: What is a random variable?
Question 2: How would you differentiate a discrete from a continuous random variable?
What segments must be reported separately and what segments can be combined.
Company SMART has a wage rate of £12 per hour, and variable overhead of machine time costs of 0.75p per hour. What is the minimum acceptable price
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October 31, the stockholders' equity section of Heins Company consists of common stock $280,000 and retained earnings $886,000.
Find the component costs of debt, preferred stock and common stock. Determine the Weighted average cost of capital (WACC) of the company
Total actual warranty expenditure = $ 70,875, What amount should General Machinery report as a liability at December 31, 2012
gateway inc. sells computers computer products computer peripherals and computer accessories throughout the world. by
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Question - Inventory Journal Entries under Perpetual and Periodic Inventory Systems. Record the journal entries for the above transactions
Are there internal policy changes with regard to collections or payables management you would recommend? What types of external financing are available?
You own Widgets ‘R Us and are preparing your year-end financial statements: What inventory accounting method do you use and why?
Prepare a flexible budget performance report showing any variances between budgeted and actual results
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