Often a company will use status quo pricing the primary advantage of employing this pricing strategy is that it
The biggest advantage of using a status quo pricing strategy is that it requires little planning. Unlike some other pricing strategies, a status quo approach does not require a company to make major changes to its pricing structure.
Answers
An strategy to pricing that maintains the status quo comprises gradually increasing the cost of our product to meet a benchmark.
What is the status quo approach?a reactive marketing approach characterized by a desire to avoid conflict with rivals; the business wants to maintain the status quo in the sector and avoid the costly process of going up against a direct rival.
What effect does the status quo have on business?How can status quo bias influence financial and business decisions? A business owner who has a status quo bias may be reluctant to take chances or make changes. They might carry on doing so even if taking the risk will ultimately help them reach their financial objectives.
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Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management has designed an activity-based costing system with the following activity cost pools and activity rates:
Activity Cost Pool Activity Rate
Supporting direct labor $ 22 per direct labor-hour
Order processing $ 194 per order
Custom design processing $ 268 per custom design
Customer service $ 416 per customer
Management would like an analysis of the profitability of a particular customer, Big Sky Outfitters, which has ordered the following products over the last 12 months:
Standard Model Custom Design
Number of gliders 11 3
Number of orders 1 3
Number of custom designs 0 3
Direct labor-hours per glider 29.50 31.00
Selling price per glider $ 1,825 $ 2,490
Direct materials cost per glider $ 464 $ 584
The company’s direct labor rate is $16 per hour.
Required:
Using the company’s activity-based costing system, compute the customer margin of Big Sky Outfitters. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Loss amounts should be entered with a minus sign.)
Answers
The total costs for Big Sky Outfitters is $6,566, The customer margin of Big Sky Outfitters is $14,123.
How to calculate the company’s activity-based costing system and the customer margin of Big Sky Outfitters.Calculating the costs for each activity:
1. Supporting direct labor:
Standard Model: 11 gliders x 29.50 direct labor-hours per glider x $16 per hour = $5,152
Custom Design: 3 gliders x 31.00 direct labor-hours per glider x $16 per hour = $1,488
2. Order processing:
Standard Model: 1 order x $194 per order = $194
Custom Design: 3 orders x $194 per order = $582
3. Custom design processing:
Custom Design: 3 custom designs x $268 per custom design = $804
4. Customer service:
Customer Service: 1 customer x $416 per customer = $416
Calculating the total costs for Big Sky Outfitters:
Total costs = Supporting direct labor + Order processing + Custom design processing + Customer service
Total costs = $5,152 + $194 + $804 + $416 = $6,566
Now, let's calculate the total revenues for Big Sky Outfitters:
Total revenues = (Number of gliders x Selling price per glider) - (Number of gliders x Direct materials cost per glider)
Total revenues = (11 x $1,825) - (11 x $464) + (3 x $2,490) - (3 x $584)
Total revenues = $20,075 - $5,104 + $7,470 - $1,752 = $20,689
Finally, let's compute the customer margin:
Customer margin = Total revenues - Total costs
Customer margin = $20,689 - $6,566 = $14,123
Therefore, the customer margin of Big Sky Outfitters is $14,123.
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The Laffer curve models – as a function of a single – . In a progressive scheme, one has to look separately at the revenue from different segments of taxpayers, corresponding to different rates. The data in the table suggests that tax cuts in the early 1980s led to – revenue from lower-income taxpayers but – revenue from the highest-income taxpayers. This would mean that reductions in the – rate, at least, made fiscal sense.
Answers
Laffer curve models tax revenue as a function of a single tax rate.
Given the table above, it suggests that the tax cuts led to less revenue from the lower income groups ie there was a reduction in the taxes from the bottom 50%. But it led to more revenue from higher income group people ie the top 1%.
This implies that the reduction in the top marginal rate made atleast fiscal sense.
What is the laffer curve?The Laffer Curve is based on supply-side economist Arthur Laffer's theory. It was developed in 1974 to illustrate the relationship between tax rates and the amount of tax revenue collected by governments.
The curve is frequently used to demonstrate the point that lowering tax rates can result in increased total tax revenue.
The Laffer Curve is a tax theory that proposes an inverted-U-shaped relationship between tax rates and government revenue.
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What is a direct consequence of a small business using deceptive advertising practices?
O loss of quality employees
O fines and/or lawsuits
O paying higher business taxes
Oowing workers' compensation
Answers
Answer:
fines and/or lawsuits
Explanation:
The FTC Act prohibits unfair or deceptive advertising in any medium. That is, advertising must tell the truth and not mislead consumers
The next dividend payment by Hoffman, Inc., will be $2.65 per share. The dividends are anticipated to maintain a growth rate of 4.5 percent forever. If the stock currently sells for $43.15 per share, what is the required return
Answers
Answer:
10.6%
Explanation:
The next dividend payment for Hoffman is $2.65
The growth rate is 4.5%
The stock currently sells at $43.15
The required return can be calculated as follows
= 2.65/43.15 + 4.5/100
= 0.0614 + 0.045
= 0.1064× 100
= 10.6%
Hence the required return is 10.6%
Merchandise inventory: A. Is a long-term asset. B. Is a current asset. C. Includes supplies. D. Is classified with investments on the balance sheet. E. Must be sold within one month.
Answers
Merchandise Inventory is classified into the financial statements of a company as a current asset.
What is a current asset?The kind of asset whose benefits are fully utilized by the company within a year and do not last for more than a year in the company's financial statements are known as current assets.
Hence, option B states about current assets.
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According to College policy, what is the most severe sanction for academic
misconduct?
written or verbal warning
failure of a course
expulsion from the College
expulsion from the College and legal action
Answers
According to College policy, is the most severe sanction for academic misconduct written or verbal warning.
What type of academic misbehavior is the most serious?The most serious type of academic dishonesty, contract cheating or commissioning, involves having someone else complete your work and submit it as their own. It can entail using "essay mills," dishonest businesses that charge students money to complete tasks.
What are the four offenses that constitute academic misconduct?Cheating.
Plagiarism.
falsehood or fabrication.
Sabotage.
What type of academic misconduct occurs the most frequently?The most typical form of academic dishonesty—and the one that is also the simplest to accidentally commit—is plagiarism.
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On July 8, Jones Inc. issued an $62,900, 9%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year
Answers
Answer:
The amount of interest expense recognized by Jones in the current fiscal year is $361.675
Explanation:
According to the given data Jones Inc. issued an $62,900, 9%, 120-day note payable to Miller Company On July 8, therefore if the the fiscal year of Jones ends on July 31 there 23 days between July 8 and July 31.
So, to calculate the amount of interest expense recognized by Jones in the current fiscal year we would have to make the following calculation:
Interest expense=$62,900*9%*(23/360)
Interest expense=$361.675
The amount of interest expense recognized by Jones in the current fiscal year is $361.675
Q1. A manufacturing firm has discontinued production of a certain unprofitable product
line. This created considerable excess production capacity. Management is considering to
devote this excess capacity to one or more of three product 1,2 and 3. The available capacity
on the machines which might limit output are given below:
Machine type Available time
(in machine hours per week)
Milling
machine
250
Lathe 150
Grinder 50
The number of machine hours required for each units of the respective product is given
below;
Machine type Productivity (in machine hours/unit)
Product 1 Product 2 Product 3
Milling 8 2 3
Lathe 4 3 0
Grinder 2 0 1
The unit profit would be 20 birr, 6 birr and 8 birr for products 1,2 and 3. Find how much of
each product the firm should produce in order to maximise profit ? Solve the problem by
simplex method
Answers
The simplex method is a mathematical optimization technique used to solve linear programming problems.
How to solveTo maximize profit in this case, we need to form a linear programming problem and then use the simplex method to find the optimal solution.
Here, the objective function is to maximize profit, which is equal to 20x1 + 6x2 + 8x3
where x1, x2 and x3 are the number of units of products 1, 2 and 3 produced respectively. The constraints are given by the available machine hours:
8x1 + 4x2 + 2x3 <= 250 (for milling machine)3x1 + 3x2 <= 150 (for lathe)x3 <= 50 (for grinder)And non-negativity constraints: x1, x2, x3 >= 0
Once the LP problem is set up, the simplex method can be used to find the optimal solution by iteratively finding a feasible solution that improves the objective function until it reaches a maximum.
The optimal solution represents the number of units of each product that should be produced to maximize profit.
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A firm is more likely to engage in horizontal foreign direct investment if
Answers
Answer:
a form is more likely to engaging horizontal foreign direct investment if ...
How is distribution and selling connected?
Answers
Answer:
Manufacturers produce or make products. They typically sell them to wholesalers or distributors that have expertise in getting products to retailers. Retailers then hold inventory and market the goods to consumers that purchase them for personal or family consumption.
Steve met Diana at the local gym and they started talking about how Diana needed her
house painted. Steve told Diana that he would paint her whole house for $5,000 and
that he would keep the offer open for seven days. Later that night, Steve even sent
Diana an email detailing the terms of the offer. Two days later, Steve sent Diana an
email around 2:25 p.m., stating that the original offer was revoked. Around 1:55 p.m.
that same day, Diana wrote Steve a letter, stating that she accepted his offer for the
house painting. As soon as Diana was able, she went to Post Office and sent Steve the
letter by certified mail (time stamped by the Postal Service at 2:27 p.m.). That night
around 5:45 p.m., Diana was reviewing her emails and saw Steve's earlier email
informing her about the revocation of the offer. She immediately called him to tell him
that she had wrote him a letter of acceptance. Was the offer revoked by Steve and why
or why not?
Answers
Answer:
Was the offer revoked by Steve and why
or why not?
No
Explanation:
I am not the best with contracts so no guarnatee but there was a clear offer, acceptance, consideration, making this a contract. Unless in the terms of the contract it stated that there could be a cancellation at any time, Steve is obligated to follow through.
Mark Goldsmith's broker has shown him two bonds issued by different companies. Each has a maturity of 4 years, a par value of $1000, and a yield to maturity of 8.70. The first bond is issued by Crabbe Waste Disposal and has a coupon interest rate of %6.315 paid annually. The second bond, issued by Malfoy Enterprises, has a coupon interest rate of 8.90 % paid annually.
a. Calculate the selling price for each of the bonds.
Answers
1. Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
2. Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
How can we calculate the selling price (SP) for each bond?Bond 1: Issued by Crabbe Waste Disposal
Coupon Interest Rate (CIR) = 6.315%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
To calculate the selling price of Bond 1, we can use the following formula:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 6.315%
PV = $1000
YTM = 8.70%
n = 4 years
SP for Bond 1 = (6.315/100) * 1000 + [(1000 - (6.315/100) * 1000) / (1 + 8.70/100)^4]
SP = $632.36 + $398.72
Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
Bond 2: Issued by Malfoy Enterprises
Now, let's calculate the selling price for Bond 2 issued by Malfoy Enterprises.
Coupon Interest Rate (CIR) = 8.90%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
Using the same formula as above:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 8.90%
PV = $1000
YTM = 8.70%
n = 4 years
SP of Bond 2 = (8.90/100) * 1000 + [(1000 - (8.90/100) * 1000) / (1 + 8.70/100)^4]
SP = $889 + $380.50
Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
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Does the store sell consumer products or industrial products why would you describe the store’s products this way?
Answers
Industrial goods are materials used in the production of other goods, while consumer goods are finished products that are sold to and used by consumers. Industrial goods are bought and used for industrial and business use.
What is the difference between selling of consumer and industrial products?One method of categorizing items is by who the target consumer or customer is. There is a significant contrast between goods and services meant for use by individuals and homes (consumer products) and goods and services designed for use by other enterprises ( industrial products). Products are categorized into four groups depending on customer behaviors, pricing, and product characteristics: convenience goods, shopping goods, specialist products, and unsought goods.
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what appeals to you about baskin robbins franchise
Answers
Answer:
It does not appeal to me lol.
Explanation:
If it does appeal then it will probably be the free icecreams. Plus you can have whatever toppings and designs you want!
Which of the following statements is CORRECT? Question 9 options: The AFN equation for forecasting funds requirements requires only a forecast of the firm's balance sheet. Although a forecasted income statement may help clarify the results, income statement data are not essential because funds needed relate only to the balance sheet. Dividends are paid with cash taken from the accumulated retained earnings account, hence dividend policy does not affect the AFN forecast. A negative AFN indicates that retained earnings and spontaneous liabilities are far more than sufficient to finance the additional assets needed. If the ratios of assets to sales and spontaneous liabilities to sales do not remain constant, then the AFN equation will provide more accurate forecasts than the forecasted financial statements method. Any forecast of financial requirements involves determining how much money the firm will need, and this need is determined by adding together increases in assets and spontaneous liabilities and then subtracting operating income.
Answers
AFN has negative and positive sides. The correct statement is A negative AFN indicates that retained earnings and spontaneous liabilities are far more than sufficient to finance the additional assets needed.
AFN is known as Projected increase in assets – spontaneous increase in liabilities – any increase in retained earnings.When the AFN value is negative, it means the action or project that is underwork will bring about extra income for the company, which can be invested in another place.
Additional funds needed (AFN) is known as financial term used when a business intends to widen its operations.
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what do you think makes us free
Answers
Answer:
Refers to the ability of a person to act out of his own free will and self-determination. This means that a person may decide to act or not to act, and these decisions are made out of his own free will. also means that a person may act even if he is not required or called to take action.
Explanation:
Some of the forklifts we use in the distribution centers will have to be replaced in the second quarter of the 2023 financial year, and we have to start thinking about it soon! We always purchased the forklifts outright from available cash resources or funded them by borrowing the required funding from the bank. We have recently learnt that many companies choose to lease their forklifts. These forklifts normally last a good ten years if we take good care of them. Prepare some relevant information that needs to be considered in a decision to lease or purchase?
Report on the following:
● Different options in the market
● Accounting treatment of the options
● Tax implications of the options
● Cost differentials and
● Cash flow implications
What would the correct decision be for the company.
Answers
Different options in the market:
The distribution center has two options when it comes to replacing its forklifts – leasing or purchasing. With leasing, the center would use the forklifts for a specified period, usually a few years, and then return them to the leasing company. On the other hand, purchasing the forklifts will give the center permanent ownership of the forklifts.
Accounting treatment of the options:
Leasing forklifts is treated as an operating expense that is reflected in the income statement. The lease payments are recorded as expenses over the life of the lease. However, purchased forklifts are treated as a fixed asset that is depreciated over their useful life. The depreciation expense is recognized over several accounting periods on the income statement.
Tax implications of the options:
Leasing forklifts can provide significant tax savings for the business as the lease payments are fully tax-deductible expenses in the financial year they are made. In contrast, depreciation and interest expense for purchased forklifts are deductible over several years, so tax deductions are delayed.
Cost differentials and cash flow implications:
Leasing forklifts would result in lower upfront costs and lower monthly payments compared to purchasing, but the total cost of leasing is typically higher over the long term. In contrast, purchasing requires a substantial upfront payment or a loan, but the total cost is lower over the long term. Cash flow implications of purchasing include funding the entire upfront cost of the forklifts and paying for any maintenance and repairs needed over the lifetime of the forklifts, while cash flow implications of leasing include lower upfront costs but higher monthly payments, which will reduce available cash flow in the short term.
What would the correct decision be for the company:
The company should decide based on its financial situation, long-term business planning, and cash flow requirements. If the company has a limited budget, a short-term need for the forklifts, or requires the latest models frequently, leasing may be a better option. But if the company values ownership, anticipates long-term use or higher utilization, and has the cash resources or access to financing, purchasing may be the more cost-effective option. The decision should consider the financial implications, tax considerations, and cash flow requirements of either option.
Initially, the Republic of Gorgonzola has no commercial banking system. To make trading easier and eliminate the need for barter, the government directs the central bank of Gorgonzola to put into circulation 3,000,000 identical paper notes, called guilders. The central bank prints the guilders and distributes them to the people. At this point the Gorgonzolan money supply is 3,000,000 guilders.
In order to keep the money safe, some Gorgonzolan entrepreneurs set up a system of commercial banks. When people need to make a payment, they can either withdraw their guilders or write a check on their account. Checks give the banks permission to transfer guilders from the account of the person paying by check to the account of the person to whom the check is made out. With a system of payments based on checks, the paper guilders need never leave the banking system, although they flow from one bank to another as a depositor of one bank makes a payment to a depositor in another bank. Deposits do not earn interest in this economy.
Let’s suppose for now that people prefer bank deposits to cash and so deposit all of their guilders with the commercial banks. Assume that (1) initially, the Gorgonzolan central bank puts 3,000,000 guilders into circulation and (2) commercial banks desire to hold reserves of 20 percent of deposits. Assume that the public holds no currency.
Answers
a. The Gorgonzolan commercial banks' Consolidated Balance Sheet after the initial deposits is:
Assets Liabilities
Currency 3,000,000 Deposits 3,000,000
b. The Gorgonzolan commercial banks' Consolidated Balance Sheet after one round of loans is:
Assets Liabilities
Currency (= reserves) 600,000 Deposits 3,000,000
Loans 2,400,000
c. The Gorgonzolan commercial banks' Consolidated Balance Sheet after the first redeposit of guilders is:
Assets Liabilities
Currency (= reserves) 3,000,000 Deposits 5,400,000
Loans 2,400,000
d. The Gorgonzolan commercial banks' Consolidated Balance Sheet after two rounds of loans and redeposits is:
Assets Liabilities
Currency (= reserves) 3,000,000 Deposits 15,000,000
Loans 12,000,000
e. The final values of bank reserves, loans, and deposits are:
Final consolidated balance sheet
Assets Liabilities
Currency (= reserves) 3,000,000 Deposits 15,000,000
Loans 12,000,000
Final value of the guilders is 15,000,000 guilders.
Data and Calculations:
Initial Deposit = 3,000,000
Reserves rate = 20%
Reserves = 600,000 guilders (3,000,000 x 20%)
Initial Loans = 2,400,000 guilders (3,000,000 - 600,000)
First redeposit = 5,400,000 guilders (3,000,000 + 2,400,000)
If Reserves is 3,000,000 guilders after the second round of loans and deposits, then, the Deposits = 15,000,000 guilders (3,000,000/20%).
And the Loans = $12,000,000 (15,000,000 - 3,000,000)
Thus, the final value of the guilders is 15,000,000 guilders.
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What leads to excess demand?
A. More people want a good or service than producers can supply.
B. Prices for a good or service increase more than consumers are willing
to pay.
C. Sellers decrease the prices of their goods or services.
D. The supply of a good or service is equal to the amount consumers want.
Answers
What are the basic rights within a private enterprise system?
Answers
Answer:
The right to private property: In the private enterprise system individuals have the right to buy, own, use, and sell the property as they see fit. This right of ownership includes land, buildings, equipment, and intangible property such as inventions.
Explanation:
Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price $101
Units in beginning inventory 0
Units produced 2,900
Units sold 2,350
Units in ending inventory 550
Variable costs per unit:
Direct materials $17
Direct labor $43
Variable manufacturing overhead $7
Variable selling and administrative expense $3
Fixed costs:
Fixed manufacturing overhead $54,900
Fixed selling and administrative expense $3,000
The total contribution margin for the month under variable costing is:_______
Answers
Answer:
Poop ❤️️
Explanation:
Which option identifies the concept represented in the following scenario?
Cargill, Archer-Daniels Midland, and Zen Noh control more than 80 percent of United States corn exports.
Group of answer choices
oligopoly
adaptability
sustainability
consolidation
Answers
Answer:
oligopoly
Explanation:
An oligopoly is a market structure with few firms dominating a large market. It is where few sellers control a large market with many buyers. In this illustration of corn exports in the US, four companies are dominating the business.
In an oligopoly, there are likely to be other small entities operating in that industry. Each of the other firms has an insignificant market share. In this case, four companies have 80 percent of the market share. The remaining 20 percent could be controlled by many other smaller companies.
Which of the following items apply to monopolistic competition (choose 3)?
no barriers to entering the market
firms are price searchers
firms are price takers
firms are price setters
high barriers to entering the market
some barriers to entering the market
differentiated products
Answers
Items that apply to monopolistic competition are Firms' price searchers, Differentiated products, and Some barriers to entering the market.
The three items that apply to monopolistic competition are:
1. Firms are price searchers: In monopolistic competition, firms have some degree of control over the price of their products. They engage in price search behavior by analyzing market conditions, customer preferences, and competitors' pricing strategies to determine their own prices. They aim to differentiate their products and attract customers based on unique features, branding, or quality.
2. Differentiated products: Monopolistic competition is characterized by firms offering products that are differentiated in some way. Each firm seeks to distinguish its products from those of its competitors through features, design, branding, or other aspects. This product differentiation allows firms to create a perceived uniqueness in the market and potentially charge higher prices.
3. Some barriers to entering the market: While monopolistic competition does not have significant barriers to entry like pure monopoly or oligopoly, there can still be some barriers. These barriers can include factors such as the need for initial capital, economies of scale, brand loyalty, and intellectual property rights. These barriers, though not insurmountable, create some level of difficulty for new firms to enter the market and establish themselves.
The following options are not applicable to monopolistic competition:
- Firms are price takers: Price takers are typically found in perfectly competitive markets, where individual firms have no control over the price and must accept the prevailing market price as given.
- Firms are price setters: Price setting is characteristic of monopoly markets, where a single firm has substantial market power and can determine the price of its products without significant competition.
- No barriers to entering the market: Monopolistic competition does have some barriers to entry, as mentioned earlier, though they may not be as significant as in other market structures.
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things that you value that are stored digitally such as digital photographs or gift card codes are
Answers
Answer: Digital Assets
Explanation: just did the question
Answer: C. Digital Assets
Explanation:
A digital asset is anything that is stored digitally and is uniquely identifiable that organizations can use to realize value. Examples of digital assets include documents, audio, videos, logos, slide presentations, spreadsheets and websites.
A Market share is usually stated as a
Answers
Answer:
stock
Explanation:
a stock is a a share of a company
Which function of the S&P Capital IQ Excel plug-in allows users to extract company data directly from CapIQ’s database and calculate the desired financial metrics using the CapIQ formulas?
Answers
Answer:
hi
his son wealth of experience in the hammock me know if you can get a chance to strike a balance of the day with great blessing to you and your family and friends he is not a reason to you and your family and friends he is yytggggtyy the phone with me this morning
A template is a function of the S&P Capital IQ Excel plug-in that allow users to extract company data directly from CapIQ’s database and calculate.
What is the S&P Capital IQ Excel plug-in?The S&P Capital IQ Excel plug-in is a software program that is designed and developed to provide several comprehensive templates that can be customized for specific usage.
Basically, a template is a function of the S&P Capital IQ Excel plug-in which avails end users an ability to directly extract company data from CapIQ’s database, as well as to calculate the desired financial metrics while using the CapIQ formulas.
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Think of as many problems, challenges or issues that affect you, your school, or your community. Create a list of as many of these issues that come to mind. At this phase, aim for quantity over quality and let your imagination run wild! List at least 5.
Answers
Eating healthy
Need for working out
Getting more sleep
Wanting to go different places and not stay in one place for ever.
Learning new stuff
As a supervisor you observe a female member of your staff is being harassed
both verbally and at times physically. She seems to disapprove but does not
make any reports. How would you go about dealing with this situation?
Answers
Answer:
Pull into the office and have a talk about it, then talk about ways to deal with it
Explanation:
Sometimes in these situations they have been traumatized by the harassment to report it (im saying she may be too scared to report it).
If you have a credit card with 15.99% APR that compounds monthly, what is the effective interest
rate?
Answers
Answer: 17.22%
Explanation:
Effective interest rate is calculated by the formula:
= (1 + APR / Number of compounding periods) ^ Number of compounding periods - 1
Number of compounding periods = 12 months in the year
= (1 + 0.1599/12)¹² - 1
= 0.172155
= 17.22%
Write a 1-page memo to the CEO. Include each chart (3) and a paragraph per chart. Each paragraph should explain the story of each visualization and explain why visualizations are important.
STEP 2
Income CATEGORIES PERCENTAGE NUMBER
$100,000 to $124,999 8% 2
$125,000 to $149,999 4% 1
$20,000 to $24,999 4% 1
$25,000 to $34,999 29% 7
$35,000 to $49,999 13% 3
$50,000 to $74,999 17% 4
$75,000 to $99,999 21% 5
Decline to answer 4% 1
24
STEP 3
GENDER PERCENTAGE NUMBER
Female 54% 13
Male 46% 11
24
STEP 4
QUESTION RESPONSES PERCENTAGE NUMBER
0 6% 1
2 11% 2
5 28% 5
6 11% 2
7 17% 3
8 11% 2
9 6% 1
10 11% 2
18
Answers
Answer:
[Your Name]
[Your Position]
[Date]
Subject: Insights from our Survey - A Window into the Lives of our Valued Customers
Dear [CEO's Name],
I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.
Chart 1: Income Categories - Reflecting the Lives of our Customers
This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.
By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.
Chart 2: Gender Distribution - Celebrating Diversity and Inclusion
This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.
Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.
Chart 3: Question Responses - Unveiling Our Customers' Voices
Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.
Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.
In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.
Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.
Warm regards,
[Your Name]
[Your Position]
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