The gross profit percentage of Big Tommy Corporation is 30.9%.
The gross profit percentage of Big Tommy Corporation can be calculated by dividing the gross profit by net sales, then multiplying by 100. Gross profit is equal to the net sales minus the cost of goods sold. Therefore, the calculation is as follows:
Gross profit = Net sales - Cost of goods sold = $404,000 - $279,000 = $125,000
Gross profit percentage = (Gross profit / Net sales) x 100% = ($125,000 / $404,000) x 100% = 30.9%
Therefore, the gross profit percentage of Big Tommy Corporation is 30.9%.
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in activity-based costing, the consumption of overhead resources is caused by blank . multiple choice question. an activity overhead direct labor material purchases
In activity-based costing, the consumption of overhead resources is caused by activities. It is intended to give a more accurate picture of the real cost of a product or service by including both direct and indirect costs.
What is activity-based costing?Activity-based costing (ABC) is a method of accounting that focuses on identifying activities that consume resources and assigning costs to those activities based on how much of the resource they consume. In ABC, the consumption of overhead resources is caused by activities. Overhead resources refer to indirect costs that cannot be directly traced to a particular product or service, such as rent, utilities, and insurance. Activity-based costing is a useful tool for businesses because it helps them understand the true cost of producing a product or service. By breaking down costs by activity, they can identify areas where they can reduce costs, improve efficiency, and increase profitability.
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Answer: an activity
Explanation:
short-term, highly-liquid investments that are purchased within 3 months of maturity can be considered equivalent to cash because they are . (check all that apply.)
Short-term, highly-liquid investments that are purchased within 3 months of maturity can be considered equivalent to cash because they are: easily converted to cash; can be liquidated easily; and are relatively stable in value..
What is an equivalent of cash?An equivalent of cash refers to an asset or security that can be easily converted into cash. In other words, a short-term, highly-liquid investment that can be bought within three months of maturity is deemed an equivalent of cash because it has a stable value, can be easily liquidated, and is quickly converted into cash. Marketable securities like money market funds, treasury bills, and commercial paper are among the most common equivalents of cash. All of these are liquid, short-term investments that are easy to convert to cash when necessary.
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Using the following balance sheet items and amounts, calculate the total liquid assets and total current liabilities.Money market account $3,450 Medical bills $398Mortgage $154,000 Checking account $950Retirement account $94,200 Credit card balance $659
Given the following balance sheet items and amounts, the total liquid assets and total current liabilities are to be calculated:
Money market account $3,450
Medical bills $398
Mortgage $154,000
Checking account $950
Retirement account $94,200
Credit card balance $659
Calculation of liquid assets: Since liquid assets are those that are easily convertible to cash, we can determine the total liquid assets by adding the checking account balance and money market account balance.
So,Total liquid assets= $3,450 + $950= $4,400
Calculation of current liabilities: Current liabilities are those that are expected to be settled in cash within the next year. The given medical bills and credit card balance are current liabilities.
Total current liabilities = $398 + $659= $1,057
Thus, the total liquid assets and total current liabilities are $4,400 and $1,057, respectively.
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which ledger can be updated solely from the receiving report? a. standard cost inventory ledger b. general ledger c. ap subsidiary ledger d. actual cost inventory ledger
C: AP subsidiary ledger can be updated solely from the receiving report.
The AP subsidiary ledger is a record of all outstanding accounts payable for a company. It is a subsidiary ledger to the general ledger and is used to keep track of the amounts owed to each vendor or supplier.
The receiving report is a document that is prepared when goods or services are received from a supplier. It contains details such as the date of receipt, the quantity and description of the goods or services received, and the name of the supplier.
Based on the information contained in the receiving report, the AP subsidiary ledger can be updated to reflect the amount owed to the supplier. This is because the receiving report provides proof that the goods or services have been received and that the supplier is owed payment.
The correct answer is "C: AP subsidiary ledger".
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When a customer feels uneasy about losing out on the benefits of a brand not purchased, she is likely to experience ________.A) selective retentionB) selective attentionC) selective distortionD) cognitive dissonanceE) consumer ethnocentrism
When a customer feels uneasy about losing out on the benefits of a brand not purchased, she is likely to experience cognitive dissonance. The correct answer is option d.
Cognitive dissonance refers to the uncomfortable psychological state that occurs when individuals hold two or more contradictory beliefs or values, or when their beliefs and behaviors are in conflict with each other. It is an internal conflict that arises from inconsistencies between what one thinks and what one does, or between what one believes and what one experiences in the world around them.
In the context of consumer behavior, cognitive dissonance is often experienced when individuals make a purchase decision that is not in line with their beliefs or values, or when they perceive that they have missed out on the benefits of a brand that they did not purchase. The feeling of cognitive dissonance can lead individuals to engage in behaviors that reduce the discomfort and restore consistency to their beliefs and values, such as seeking out additional information or justification for their decision, or avoiding future purchase decisions that might trigger cognitive dissonance.
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There are multiple types of probability samples. In a (1)___________, every member of the population has an equal chance of selection. In a (2)__________, members of a population are selected in preset intervals.
In a Probability Sampling, every member of the population has an equal chance of selection. In a Systematic Sampling, members of a population are selected in preset intervals.
What is Probability Sampling? Probability Sampling is a statistical approach in which researchers choose participants randomly from a larger population. Probability sampling is a type of sampling in which a certain number of individuals are chosen from a group to study.How to define Systematic Sampling?A systematic sampling is a statistical method of selecting a random sample from a population. Systematic sampling is a probability-based sampling method in which an ordered list of subjects is produced, and subjects are then picked at fixed intervals from that list.Systematic sampling is a probability sampling method that is similar to simple random sampling, except that it employs a system or rule for selecting the sample from the population rather than selecting each subject at random.There are multiple types of probability samples. In a Probability Sampling, every member of the population has an equal chance of selection. In a Systematic Sampling, members of a population are selected in preset intervals.
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All else equal, a decrease in the marginal cost of producing a good will result in: a) A lower equilibrium quantity and a higher equilibrium price. b) A lower equilibrium quantity and a lower equilibrium price. c) A higher equilibrium quantity and a higher equilibrium price. d) A higher equilibrium quantity and a lower equilibrium price.
The correct answer is d) A higher equilibrium quantity and a lower equilibrium price.
All else equal, a decrease in the marginal cost of producing a good will result in a higher equilibrium quantity and a lower equilibrium price. This is because when the marginal cost of producing a good decreases, the producer can afford to produce more of the good at a lower cost. As a result, the producer can sell more units of the good at a lower price and still make a profit.
When the producer can sell more units of the good at a lower price, the demand for the good increases, and the quantity demanded increases as well. This leads to a movement along the demand curve to a higher quantity demanded at a lower price. At the same time, the increase in supply due to the lower marginal cost shifts the supply curve to the right, which further increases the equilibrium quantity and lowers the equilibrium price.
Therefore, the correct answer is d) A higher equilibrium quantity and a lower equilibrium price.
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Which of the following is FALSE with regard to obtaining a contract to work with an individual member on an issue?a. Obtaining a contract is usually not necessary in counseling and therapy groupsb. Both of the choices are false.c. The leader always needs to obtain a contract to hold the focus on an individuald. Neither of the choices is false.
The following is false with regard to obtaining a contract to work with an individual member on an issue: Obtaining a contract is usually not necessary in counseling and therapy groups.
What is a contract in counseling and therapy?A contract is an agreement between two parties that sets out the terms and conditions of their partnership. The contract can provide as a written document that specifies the length, purpose, and goals of the therapy.
Contracts are vital in counseling and therapy for a variety of reasons, including establishing boundaries, establishing goals, and ensuring that everyone involved is on the same page.As a result, it is false to say that obtaining a contract is usually not necessary in counseling and therapy groups.
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to find the nucleotide sequence of human chromosomes, chromosomes had to be digested into small fragments and then . to find the nucleotide sequence of human chromosomes, chromosomes had to be digested into small fragments and then . pasted together with dna ligase separated using gel electrophoresis cloned and sequenced cut into smaller fragments with restriction enzymes
"To find the nucleotide sequence of human chromosomes, chromosomes had to be digested into small fragments and then cloned and sequenced."
The human genome, which includes the nucleotide sequence of all chromosomes, is too large to be sequenced directly. To overcome this challenge, scientists use a technique called fragmentation, where the DNA is broken down into smaller pieces.
These fragments are then cloned, or copied, and sequenced individually. This approach allows for the sequencing of small portions of DNA that can be pieced together to generate a complete chromosome sequence.
To facilitate the process, special enzymes are used to cut the DNA at specific locations, creating fragments of a known size. This technique has been instrumental in the generation of the human genome sequence, which has led to a better understanding of genetic diseases and has opened new avenues for personalized medicine.
This question should be provided as:
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circle or highlight the main idea and underline the controlling idea in each of the following topic sentences. 1. exercising three times a week is the only way to maintain good physical health. 2. sexism and racism are still rampant in today's workplace. 3. raising the legal driving age to twenty-one would decrease road traffic accidents. 4. owning a business is the only way to achieve financial success. 5. dog owners should be prohibited from taking their pets on public beaches.
1. Main idea- exercising
Controlling idea- good health
2. Main idea- sexism and racism
Controlling idea- workplace
3. Main idea- driving age
Controlling idea- traffic accidents
4. Main idea- business
Controlling idea- financial success
5. Main idea- dog owners
Controlling idea- public beaches
What is controlling idea?
A controlling idea or the main idea holds a significant position when you are writing something.
Something is about a controlling concept. It serves as the basis on which you can build your article, book, or film. By clearly stating the paragraph's core topic, the governing idea in a body paragraph aids in its unity.
An essay's body paragraphs should each include one main idea. In other words, only one topic should be covered in each paragraph. The reader will be introduced to the paragraph's major idea in the topic sentence, and the supporting phrases and facts that follow should all be related to that theme. The paragraph would be concluded with a sentence that summarised the major concept and allowed the reader to go on to the next section of the essay.
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The chart/graph which would best summarize the relative frequency distribution of a firm's total expenditures made by each department would be:
a. a frequency polygon.
b. a histogram.
c. an ogive.
d. a pie chart.
The chart/graph which would best summarize the relative frequency distribution of a firm's total expenditures made by each department would be a histogram. Therefore, the correct answer is B.
A histogram is a graphical representation of a frequency distribution of a data set. The data set is grouped into equal-width bins or classes, with the count of data points in each bin represented by the height of a rectangle or bar, with equal heights representing equal frequencies.
The histogram is useful for summarizing the distribution of continuous variables, particularly in finance, psychology, and other fields where precise numerical values are critical. It is not ideal for categorical variables, although a histogram may be created for ordinal variables with ordered categories.
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in 2021, meghann, a single taxpayer, has qbi of $110,000 and modified taxable income of $78,000 (this is also her taxable income before the qbi deduction). given this information, what is meghann's qbi deduction?
Meghann, a single taxpayer in 2021 with a Qualified Business Income (QBI) of $110,000 and modified taxable income of $78,000, will have a QBI deduction of $14,700. The QBI deduction is limited to the lesser of the combined qualified business income amount, or 20% of the modified taxable income.
The QBI deduction is a deduction that can be claimed on individual tax returns by eligible taxpayers that own and operate certain businesses or trades. The purpose of the deduction is to provide a tax break to individuals who are not benefiting from the lower corporate tax rate that was established under the Tax Cuts and Jobs Act (TCJA). Formula to calculate QBI Deduction: QBI Deduction = Lesser of 20% of the modified taxable income OR Combined Qualified Business Income Amount Given, Meghann's QBI = $110,000 Modified Taxable Income = $78,000 Therefore, QBI Deduction = 20% of Modified Taxable Income= 20/100 × $78,000 = $15,600As per the formula, QBI Deduction = Lesser of 20% of Modified Taxable Income OR Combined Qualified Business Income Amount = Lesser of $15,600 OR $110,000= $14,700Thus, Meghann's QBI deduction is $14,700.
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Absorption costing treats fixed manufacturing overhead as a ______ cost.a. promotion
b. profit
c. price
d. product
Absorption costing treats fixed manufacturing overhead as a option (d) product
Absorption costing is a method of accounting for the cost of producing a product that includes all direct costs (such as direct materials and direct labor) and indirect costs (such as manufacturing overhead) associated with the production of that product.. In absorption costing, fixed manufacturing overhead costs are considered to be a product cost because they are part of the cost of producing a unit of product.
This means that fixed manufacturing overhead costs are absorbed into the cost of each unit of product, along with variable manufacturing costs such as direct materials and direct labor.
Therefore, the correct answer is (d) product.
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Accounts Receivable Turnover and Average Collection Period The Outback Corporation disclosed the following financial information (in millions) in its recent annual report: 2018 2019 Net Sales $72,500 $83,750 Beginning Accounts Receivable (net) 3,896 4,100 Ending Accounts Receivable (net) 4,100 3,596 a. Calculate the accounts receivable turnover ratio for both years. (Round to two decimal points.) b. Calculate the average collection period for both years. (Use 365 days for calculation. Round to the nearest whole number.) c. Is the company's accounts receivable management improving or deteriorating? 2019 2018 a. Accounts receivable turnover 0 x 0 x b. Average collection period 0 x 0 x c. The company's receivable management Improved
A. Accounts Receivable Turnover Ratio:
For 2018:
Accounts Receivable Turnover Ratio = $72,500 million / (($3,896 million + $4,100 million) / 2)
= $72,500 million / $3,998 million
≈ 18.13
For 2019:
Accounts Receivable Turnover Ratio = $83,750 million / (($4,100 million + $3,596 million) / 2)
= $83,750 million / $3,848 million
≈ 21.74
b. Average Collection Period:
For 2018:
Average Collection Period = 365 days / 18.13
≈ 20 days
For 2019:
Average Collection Period = 365 days / 21.74
≈ 17 days
C. The company's accounts receivable management:
The decrease in the average collection period from 20 days in 2018 to 17 days in 2019 indicates an improvement in the company's accounts receivable management.
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which of the following is not a money market instrument? a. banker's acceptance b. negotiable cd c. repurchase agreement d. commercial paper e. all of these choices are money market instruments.
E. All of these choices are money market instruments.
All the options mentioned are types of money market instruments:
What is Commercial Market?
The commercial sector is the segment of the economy that includes businesses and organizations engaged in the production and sale of goods and services to consumers. It comprises a wide range of businesses, including retail stores, restaurants, hotels, financial institutions, healthcare providers, and professional services firms.
a. Banker's Acceptance: A short-term credit investment created by a non-financial firm and guaranteed by a bank to make payment.
b. Negotiable CD: A certificate of deposit that can be bought or sold before maturity.
c. Repurchase Agreement: A short-term loan in which the borrower sells securities to the lender and agrees to buy them back at a higher price.
d. Commercial Paper: A short-term debt instrument issued by companies to raise funds for a short period of time.
Therefore, all of the options listed are money market instruments.
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TM
Find three websites that offer advice on how to manage restaurant staff well. Make sure that at least one of these sites is from an established source such as a professional organization or an expert in the field. Provide the links for the sites that you used and the article titles.
Then use your chosen sites to answer the questions:
1. What ideas or themes do the websites you chose have in common? Select two common themes and explain why they are important.
2. Other than the themes just discussed, what do you think is the best piece of advice that you read? Explain vour answer
3. Which piece of advice that you read about might be hardest to implement? What challenges could it potentially create?
4. Consider the advice from the employee's point of view. Discuss the point you read about that you think employees would appreciate most.
5. If you had to recommend one of the websites/articles as being the most useful, which would it be and why?
The "Managing Employees" article from the National Restaurant Association would be one of the most helpful if I had to choose one of the websites or articles.
Three websites provide guidance on effective staff management for restaurants:
National Restaurant Association (https://restaurant.org/)
Toast Tab (https://pos.toasttab.com/)
Up serve (https://upserve.com/)
Write the Answers of he following Questions of the chosen sites?The effective communication and training themes are common to all of the websites. It is important to communicate well because it helps to reduce misunderstandings and improve teamwork among employees.
I read that providing employees with regular feedback was one of the best pieces of advice.
The suggestion that may be hardest to carry out is to consider representatives responsible for their presentation.
The significance of creating a positive work environment is one aspect that employees would appreciate the most.
The "Managing Employees" article from the National Restaurant Association would be one of the most helpful if I had to choose one of the websites or articles.
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: QS 3-26 (Static) Classifying balance sheet items LO C2 Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, and Long-Term Liabilities. For each of the following items, Identify the balance sheet category where the item would most likely appear Items 1. Land 2. Nodes payable (due in five years) 3. Accounts receivable 4. Trademarks 5. Accounts payable 6. Equipment 7. Wages payable 8 Cash Batarice Sheet Category Plant assets Long-term liabilities Current assets Current assets Current liabilities Current assets Current assets Current assets
QS 3-26 (Static) Classifying balance sheet items LO C2
Land - Plant Assets Notes payable (due in five years) - Long-term liabilities Accounts receivable - Current assets Trademarks - Intangible assets Accounts payable - Current liabilities Equipment - Plant Assets Wages payable - Current liabilities Cash - Current assets
Common categories of a classified balance sheet include Current Assets, Long-Term Investments, Plant Assets, Intangible Assets, Current Liabilities, and Long-Term Liabilities.
A long-term investment is an investment in assets for a period of one year or longer with the aim of controlling another company.
Current assets are business assets that can be liquidated for cash. Fixed assets are tangible assets held for the production or supply of goods or services, leased to others, or for administrative purposes. likely to be used over multiple time periods.
Intangible assets are identifiable non-financial assets that have no physical form. These assets are held to produce goods and services or used for other purposes.
Current liabilities include accrued expenses such as bills payable, accounts payable, unearned income, wages payable, taxes payable and interest payable.
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money market instruments are securities a. with maturities of one year or less. b. with maturities of more than one year. c. representing the ownership of real estate. d. representing equity ownership of publicly traded companies.
Money market instruments are securities with maturities of one year or less. Therefore, option a. is the correct answer.
What are money market instruments?The instruments that are used for short-term lending and borrowing are referred to as money market instruments. The term "money market" refers to the marketplace where these instruments are traded.
Investors buy money market instruments because they are regarded as safe investments with low risk. Money market instruments are often used by institutions and corporations to borrow money, as well as by governments to finance budget shortfalls, and are frequently employed in the implementation of monetary policy.
In conclusion, option a. with maturities of one year or less is the correct answer.
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we pay insurance company will pay you $1,175 each quarter for 27 years. you want to earn a minimum interest rate of .88 percent per quarter. what is the most you are willing to pay today for these payments?
The present value which is the amount that you are willing to pay today for these payments is $310,851.04.
To compute the most that you are willing to pay today for these payments, the formula that should be used is the Present Value Formula. This formula will help calculate the current worth of the series of future cash flows that you expect to get. The formula is as follows:
PV = Pmt / r [1 – 1 / (1 + r)^ n]
Where: PV = Present Value, Pmt = the periodic payment, r = the interest rate, and n = the total number of periods involved.
It is given that Periodic payment = $1,175 per quarter, Total number of payments = 27 years * 4 quarters = 108 quarters, Minimum interest rate per quarter = 0.88%
Therefore, we can compute as follows:
PV = $1,175 / 0.0088 [1 – 1 / (1 + 0.0088)^108]
PV = $310,851.04
Therefore, the most you are willing to pay today for these payments is $310,851.04.
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As a ______ I will provide estimates for each user story before Sprint Planning so that the team can jointly estimate and agree upon the size of each user story. Select one. A. Scrum Master B. Team Member (developer/tester) C. Product Owner
As a team Member (developer/tester), I will provide estimates for each user story before Sprint Planning so that the team can jointly estimate and agree upon the size of each user story. Option B is the correct choice.
In agile software development using Scrum, the task of providing estimates for each user story before Sprint Planning falls under the responsibility of the Team Member (developer/tester). User story estimation is a collaborative effort among team members to estimate the effort needed to implement a user story.
The goal of estimation is to enable the team to plan their work during the upcoming Sprint. The estimates should be realistic and based on the collective expertise of the team members. This allows the team to commit to a reasonable amount of work for the upcoming Sprint and ultimately deliver a high-quality product.
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Exercise 7-11 Determine depreciation under three methods (LO7-4) Speedy Delivery Company purchases a delivery van for $37,600. Speedy estimates that at the end of its four-year service life, the van will be worth $5,800. During the four-year period, the company expects to drive the van 159,000 miles. Actual miles driven each year were 42,000 miles in year 1 and 45,000 miles in year 2 Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) . Straight-line. Year 2. Double-declining-balance Year 3. Activity-based. Year Depreciation
Determine depreciation under three methods (LO7-4)Speedy Delivery Company purchases a delivery van for $37,600. Speedy estimates that at the end of its four-year service life, the van will be worth $5,800.
The business forecasts driving the vehicle 159,000 kilometres over the course of the four years. In year 1 and year 2, the actual miles driven each year were 42,000 and 45,000, respectively.
2. Determine the annual depreciation for the van's initial two years using each of the approaches shown below. (Be careful while rounding your calculations.) using a straight line. Calculating the annual depreciation expense is the first step. Straight-line depreciation is calculated as follows:
annual depreciation = (cost - residual value) / useful life
First year depreciation = ($37,600 - $5,800) / 4 years = $7,450
Year 2 Depreciation = ($37,600 - $5,800) / 4 years = $7,450
Note: Depreciation expense is the same for each year with the straight-line method. Double-declining-balance method.
The first step is to calculate the depreciation rate. The formula for double-declining balance is:
depreciation rate = (100% / useful life) × 2
First year depreciation = Beginning book value × Depreciation rate = $37,600 × 50% = $18,800
Year 2 Depreciation = ($37,600 - $18,800) × 50% = $9,400
Note: The depreciation expense decreases each year with the double-declining balance method. Activity-based method. The first step is to calculate the per-mile depreciation rate.
The formula for activity-based depreciation is:
per-mile depreciation = (cost - residual value) / total miles expected
First year depreciation = per-mile depreciation × actual miles driven
First year depreciation = ($37,600 - $5,800) / 159,000 miles
First year depreciation = $0.20 per mile
First year depreciation = $0.20 per mile × 42,000 miles = $8,400
Year 2 Depreciation = $0.20 per mile × 45,000 miles = $9,000
Note: Depreciation expense varies with the activity-based method based on the miles driven each year.
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Match the terms to their definition.
1. bank
2. credit union
)
3. financial institution
4. savings and loan
a public or private organization that
collects and invests money and offers
financial services
a financial institution that
specializes in home loans
a nonprofit financial institution
formed by a large corporation or
organization for their employees and
members
a business and financial institution;
a safe place to keep your money
Answer:
1. bank
a business and financial institution;
a safe place to keep
2. credit union
a nonprofit financial institution
formed by a large corporation or
organization for their employees and
members
3. financial institution
a public or private organization that
collects and invests money and offers financial services
4. savings and loan
a financial institution that
specializes in home loans
what is cross-industry standard process for data mining (crisp-dm)? step 1 understand step 2 business understanding step 3 data preparation step 4 model building step 5 testing and evaluation step 6 deployment
The Cross-Industry Standard Process for Data Mining (CRISP-DM) is a standard process for data mining and analysis. The six steps are business understanding, data understanding, data preparation, modeling, evaluation, and deployment.
CRISP-DM stands for Cross-Industry Standard Process for Data Mining. It is a structured approach to understanding and solving problems related to data mining. This framework is widely accepted and used across the industry. The steps includes are:
Step 1: Business Understanding - The first step in the process is to establish the project's goals, scope, and objectives. You must identify the issues that are to be addressed and define the data mining problem that needs to be solved. This step will help you to understand the data mining goals in the context of business.Step 2: Data Understanding - Data is collected and analyzed to identify trends, patterns, and relationships. Data should be gathered from multiple sources to provide a comprehensive view of the business problem.Step 3: Data Preparation - This stage involves preparing data to be used in the analysis. Data must be cleaned, formatted, and transformed into a format suitable for analysis. It also includes selecting and creating appropriate features, such as selecting relevant attributes and creating new ones if necessary.Step 4: Modeling - This stage involves selecting the appropriate algorithms and techniques to use on the data to generate the best possible model. It is crucial to use the appropriate model, as it will have a significant impact on the model's performance.Step 5: Evaluation - The model's performance is evaluated in this phase. The goal of this step is to assess how well the model is performing based on the criteria established in the first phase.Step 6: Deployment - This stage involves putting the data mining model into operation. The model must be integrated into the business process and monitored to ensure it is working correctly. This step is crucial because it helps ensure the model's effectiveness and suitability for business applications.Note: The question is incomplete. The complete question probably is: What is cross-industry standard process for data mining (CRISP-DM)? State the steps of CRISP-DM.
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Why are elastic goods and services said to be price sensitive?
Elastic goods and services are considered price sensitive because they experience a significant change in demand in response to even small changes in their prices.
What is elasticity? Elasticity refers to the responsiveness of the demand and supply for a good or service to changes in factors such as price, income, and other economic variables. Elastic goods and services have a demand or supply that is highly responsive to changes in their prices, whereas inelastic goods have a low response to changes in price. Elasticity is a measurement of the degree of responsiveness of a particular quantity with respect to another. Elasticity can be classified into three categories: elastic, inelastic, and unitary.
What are elastic goods and services? Elastic goods and services refer to goods and services that are highly responsive to changes in price. This means that even small changes in their prices result in a significant change in demand. For instance, a 10% increase in the price of a good that is highly elastic might result in a 20% decrease in demand. In contrast, a 10% increase in the price of a good that is relatively inelastic might result in only a 2% decrease in demand.
A few examples of elastic goods include air travel, hotel accommodation, and leisure activities such as concerts and movies. Why are elastic goods and services considered price sensitive? Elastic goods and services are considered price sensitive because of the degree of responsiveness of their demand to changes in their prices.
In other words, consumers are more likely to be deterred from purchasing the product or service due to the increase in price. The inverse is also true: when the price of a product is lowered, there is an increased demand, and consumers are more likely to purchase the product. The elasticity of demand is a measure of how much a change in price affects the quantity demanded of a good or service.
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Which of the following is not an advantage of establishing an enterprise risk management system within an organization?(1) Reduces operational surprises.(2) Provides integrated responses to multiple risks.(3) Eliminates all risks.(4) Identifies opportunities.(3) Eliminates all risks.
The answer is option 3, which says that establishing an enterprise risk management system within an organization "eliminates all risks."
What is Enterprise Risk Management (ERM)? Enterprise Risk Management (ERM) is a structured, coordinated approach to managing an organization's risks that encompasses the entire organization. It integrates risk management into the business processes of an organization at every level. The following are some of the advantages of establishing an enterprise risk management system within an organization: Identifies opportunities.
Reduces operational surprises.Provides integrated responses to multiple risks.Encourages proactive management.Increases risk response readiness and resilience.Enhances stakeholder confidence and trust.Encourages communication and collaboration among departments and divisions within an organization.Builds a common risk language and risk culture within an organization.Makes risk management more effective and efficient by standardizing processes and systems.
Streamlines regulatory compliance and reduces regulatory risk. Manages reputational risk more effectively. Reduces the cost of risk management over time.
Summary: From the options given in the question, it can be concluded that option 3, which says that establishing an enterprise risk management system within an organization eliminates all risks is not an advantage of establishing an enterprise risk management system within an organization.
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tangible differentiation comprises observable product features (e.g., shape, color, size, and style), but it does not include performance dimensions such of the product (for instance, its reliability and durability). true or false?
The given statement, "tangible differentiation comprises observable product features (e.g., shape, color, size, and style), but it does not include performance dimensions such of the product (for instance, its reliability and durability)," is false (F) because tangible differentiation can include both observable product features and performance dimensions such as reliability and durability.
The statement that tangible differentiation does not include performance dimensions of a product is false. Tangible differentiation refers to the observable product features such as shape, color, size, and style that can set a product apart from its competitors. However, it can also include performance dimensions such as reliability and durability that affect the overall quality and customer satisfaction with the product.
In fact, product performance is often a key factor in tangible differentiation as it can provide a competitive advantage and drive customer loyalty. Therefore, companies must consider both observable product features and performance dimensions when developing a tangible differentiation strategy to effectively differentiate their products from those of their competitors.
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consider the following example: cook manufacturing (us): (account payable: pay 10,000,000 yen, 90 days from now) spot rate : 100 yen/$ japan 3 month borrowing interest rate: 2.0% / 90 days japan 3 month investment interest rate: 1.5% / 90 days how many usd will cook manufacturing convert into yen today to pay the japanese supplier 90 days from now.
Cook Manufacturing (US) will convert $99,393.22 into yen today to pay the Japanese supplier 90 days from now.
According to the given details in the question, Cook Manufacturing (US) is required to pay a sum of 10,000,000 yen after 90 days.
We are required to calculate the amount in USD that the company will convert to yen today.
We have to calculate the present value of the payment in yen using the 3-month borrowing rate and then convert the value to USD using the spot rate.
Step 1: Calculate the present value of the payment in yen
PV (yen) = 10,000,000 / (1 + (2.0% x 90/360))= 9,939,322.03 yen
Step 2: Convert the present value of the payment in yen to USD using the spot rate
PV (USD) = PV (yen) / Spot Rate= 9,939,322.03 yen / 100 yen/USD= 99,393.22 USD
Therefore, Cook Manufacturing (US) will convert $99,393.22 into yen today to pay the Japanese supplier 90 days from now.
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processing data through the use of simulated files provides an auditor with information about the operating effectiveness of control policies and procedures. one of the techniques involved in this approach makes use of
One of the techniques involved in processing data through the use of simulated files is data profiling.
What are simulated files?Simulated files are generated using real-life examples to mimic the actual data. For example, to simulate a client's database, a few transactions may be entered in a software application. The data is generated and saved as simulated files. These files are used to carry out tests. They help auditors understand the structure of the actual data and identify any anomalies or inconsistencies.
Data profiling is one of the techniques used in processing data through the use of simulated files. Data profiling is an activity that is used to analyze and understand the data stored in a database. It provides information about the content of the data and the relationship between the data elements.
The data profiling process includes examining the data, identifying errors and inconsistencies, and identifying trends and patterns in the data. Data profiling is essential in the auditing process because it helps auditors to identify any weaknesses in the control policies and procedures.
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How do you calculate loan-to-value on a mortgage?
To calculate loan-to-value (LTV) on a mortgage, the formula is: LTV = (Amount of loan / Property value) x 100, where, amount of loan refers to the amount of money the borrower is borrowing.
Property value refers to the price at which the property is being purchased or the current market value of the property.
Example: Suppose a borrower is taking out a mortgage loan of $150,000 to purchase a home that costs $200,000. In this case,
LTV = (150,000 / 200,000) x 100
LTV = 75%
Therefore, the loan-to-value (LTV) of this mortgage is 75%, which means the borrower is financing 75% of the property value with the loan and making a down payment of 25%.
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The proliferation of new, high-speed communication technologies has changed the workplace. Formal spelling and grammar ________ when trading messages at high speed during an IM workplace conversation. a. matter less
b. matter more
c. understate more
The proliferation of new, high-speed communication technologies has changed the workplace. Formal spelling and grammar matter less when trading messages at high speed during an Instant Messaging workplace conversation. The correct answer is is option a.
In an Instant Messaging workplace conversation, formal spelling and grammar matter less when trading messages at high speed. Instant Messaging is a form of communication that allows users to exchange text messages in real-time over the internet.
In the case of instant messaging, grammar and spelling are less important. Because in a live, informal messaging, the goal is to communicate faster, making spelling and grammar less significant than the overall understanding of the communication taking place. While informal, speed is the priority when it comes to Instant Messaging communication.
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