in a simple linear regression model we use the normal quantile plot of the residuals to evaluate if it is reasonable to assume the ___________ come from a normal distribution.

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Answer 1

The basic regression model posits a linear relationship, Y = + X +, between a dependent variable Y and an explanatory variable X, with the error term comprising omitted components.

How is a basic linear regression test assumed?

The Durbin Watson test is the simplest method for examining the independence presumption. The durbinWatsonTest built-in function in R can be used to perform this test on our model. When you run this test, you'll get an output with a p-value that will allow you to assess if the assumption is true or false.

What traits distinguish simple linear regression?

Characteristics of Linear Regression

The linear regression's y-intercept is the same as the regression constant (b0). The slope of the regression line, which is the regression coefficient (b1), is

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Related Questions

which of the following is not true regarding the income statement? a.it must be prepared after the statement of stockholders' equity. b.it is prepared using the account balances shown in the adjusted trial balance columns of the end-of-period spreadsheet. c.miscellaneous expense is listed as the last expense item, regardless of its amount. d.it must be prepared before the statement of stockholders' equity.

Answers

It must be prepared before statement of the stockholders' equity is not true regarding income statement.

What is a stockholder?

A stockholder, also known as a shareholder, is an individual, group, or organization that owns shares of a company's stock. When a person buys shares of a company, they become a part owner of that company, and their ownership percentage is determined by the number of shares they own in relation to total number of outstanding shares. Stockholders typically have the right to vote on important company decisions, such as the election of board members and major business decisions. They may also receive dividends, which are payments made to shareholders from a company's profits. The value of a stockholder's shares can fluctuate based on market conditions and the performance of the company.

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Rank each of the four statements with regards to whether the economic organizations in each statement are more market-oriented or part of a planned economy?

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the ranking is like the following:

1. D

2.A

3.C

4.B

Market economy: This refers to the setting of price and quantity in accordance with the movements and intersection of supply and demand. The production factors are privately owned.

Planned economy: This refers to the setting of price and quantity in accordance with a decision made by the government. Government ownership, not private ownership, exists for the factors of production.

Ranking:

1. Buyers and sellers make all production/consumption decisions.

2.  The government attempts to induce certain production/consumption decisions using monetary incentives.

3. The government regulates some production/consumption decisions.

4. The government makes all production/consumption decisions.

The ranking is made from market oriented activity to planned economy activity.

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complete question:

Rank each of the four statements with regards to whether the economic organizations in each statement are more market-oriented or part of a planned economy?

A. The government attempts to induce certain production/consumption decisions using monetary incentives.

B. The government makes all production/consumption decisions.

C. The government regulates some production/consumption decisions.

D. Buyers and sellers make all production/consumption decisions.

The market supply for natural gas is the sum of all prices that natural gas producers are willing and able to sell at for every quantity." What is the flaw in this statement? It should state that market supply is the sum of the quantities of natural gas that producers are willing and able to sell at every price. It should state that market supply is the price of natural gas that one firm is willing and able to provide a specified quantity of its product at. It should state that market supply is the quantity of natural gas that producers are willing and able to sell at one specific price. There is no flaw in this statement.

Answers

The market supply of natural gas is the sum of all prices that natural gas producers are willing and able to sell at for each quantity.

What is the correct market supply?

The market supply is the total amount of an item that producers are willing and able to sell at various prices over a given time period, such as one month.

The supply curve depicts the relationship between the cost of a good or service and the quantity supplied over a given time period. A typical illustration will show the price on the left vertical axis and the quantity supplied on the horizontal axis.

Therefore, A market supply curve in an industry is the horizontal sum of all supply curves for each individual firm.

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the selling price per box for cynthia's cookies is $19.95. fixed costs are $65.000 and the variable cost per box is $9.88 a. what is the break-even quantity? b. if sales last year were 8,200 boxes, what was the net profit?

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To find the break-even quantity, we need to determine how many boxes of Cynthia's Cookies must be sold to cover the fixed and variable costs. We can use the following formula:

What is break even quantity ?

Break-even quantity = Fixed costs / (Selling price per unit - Variable cost per unit)

Substituting the given values, we get:

Break-even quantity = $65,000 / ($19.95 - $9.88) = 6,535.54

Rounding up to the nearest whole number, the break-even quantity is 6,536 boxes.

Therefore, Cynthia's Cookies needs to sell at least 6,536 boxes to cover all costs and break even.

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which of the following statements is not correct? question 8 options: advocates for drug-interdiction policies that reduce the supply of illegal drugs argue that the demand for illegal drugs may be more responsive in the long run than in the short run. the demand for illegal drugs is price inelastic. drug interdiction efforts that reduce the supply of illegal drugs may increase drug-related crimes. the quantity of illegal drugs demanded is very responsive to changes in price.

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Drug interdiction measures, such as making it unlawful to transport narcotics over state lines or prohibiting their sale, restrict the supply of drugs.

Correct. One of the reasons government drug interdiction raises drug-related crime is that it makes it more expensive to purchase the same quantity of drugs since it reduces the supply and drives up the price of drugs. It raises prescription prices and allows suppliers greater discretion over how much to charge for their products. Consumers grow more restless and may develop addictions when prices vary. Overall, the findings show that the demand for illegal substances is, on average, weakly price inelastic—a 10% rise in the price of illegal substances causes a decline in demand of around 9%.

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your parents plan to give you $200 a month for four years while you are in college. at a discount rate of 6 percent, compounded monthly, what are these payments worth to you when you first start college?

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The payments your parents plan to provide you are worth approximately $8,350.66 while you first start college, at a discount rate of 6 percent, compounded monthly.

To discover the present price of the monthly payments your parents will provide you with, we can use the formula for the present value of an annuity:

PV = P * [1 - (1 + r)^(-n)] / r

wherein:

PV = present value of the annuity

P = the periodic fee = $200

r = the interest price per compounding period = 0.06 / 12

n = the whole number of compounding periods = 4 years * 12 months/year = 48

Plugging inside the values, we get:

PV = $200 * [1 - (1 + 0.06/12)^(-48)] / (0.06/12) ≈ $8,350.66

therefore, the payments your parents plan to provide you are worth approximately $8,350.66 while you first start college, at a discount rate of 6 percent, compounded monthly.

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what is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? market equilibrium rental price

Answers

Based on the quantity demanded and supplied of the apartments as shown in table, the following are as follows-

Equilibrium rental price = $2,250

Equilibrium apartments demanded = 12,500

Equilibrium apartments supplied = 12,500

Market equilibrium, in this case, is a state in which the market price is competitively determined so that the quantity of goods or services demanded by buyers equals the quantity of goods or services produced by sellers.

This price, often called the competitive price or market-clearing price, usually does not change unless demand or supply changes. The volume is also called the "competitive volume" or market clearing volume.

However, the concept of equilibrium in economics also applies to imperfectly competitive markets in the form of Nash equilibrium.

In economics, economic equilibrium is a situation in which economic forces such as supply and demand are in equilibrium, and the (equilibrium) values ​​of economic variables do not change without external influences.

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the working-age population can be divided into two groups ? a. people looking for work and those in the armed forces. b. people in the labor force and people who are not in the labor force. c. people in the labor force and people with a job. d. people in the labor force and people looking for work.the working-age population can be divided into two groups ? a. people looking for work and those in the armed forces. b. people in the labor force and people who are not in the labor force. c. people in the labor force and people with a job. d. people in the labor force and people looking for work.

Answers

The correct option is: b. people in the labor force and people who are not in the labor force.

Persons who are neither employed nor jobless aren't in the labor force. This  order incorporates  abnegated persons, understudies, those taking care of  youths or other family  individualities, and other people who are neither working nor looking for work. Information is gathered on their  craving for and vacuity for work, hunt for new employment  exertion in the  previous time, and reasons for not presently searching.  

Employed persons are classified by occupation( what  kind of work they do) and assiduity( what  kind of work their employer or business does). Unemployed persons are classified according to their last work   Employed persons are  distributed by class of worker grounded on their relationship to their employer. The class- of- worker  orders incorporate private and government  pay envelope and  payment workers,  singly employed workers, and  overdue family workers.

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verrett corporation is a manufacturer that uses job-order costing. the company has supplied the following data for the just completed year: raw materials purchased on account $ 475,000 raw materials (all direct) requisitioned for use in production $ 476,000 direct labor cost $ 640,000 manufacturing overhead: indirect labor cost $ 174,000 other manufacturing overhead costs incurred $ 498,000 cost of goods manufactured $1,469,000 cost of goods sold (unadjusted) $1,430,000 what is the journal entry to record raw materials used in production?

Answers

The required journal entry Raw Materials Inventory [Debit] $476,000 Accounts Payable [Credit] $476,000.

What is a journal entry?

A journal entry is a record of a business transaction that is kept in your accounting software. In double-entry bookkeeping, each transaction requires at least two journal entries. Because a transaction can result in numerous changes in a business, a bookkeeper keeps track of all of them with journal entries.

The journal entry to record raw materials used in production is:

Raw Materials Inventory [Debit] $476,000

Accounts Payable [Credit] $476,000

This journal entry reflects the fact that raw materials with a cost of $476,000 were requisitioned for use in production during the year. The Raw Materials Inventory account is debited to record the cost of the materials that were used, and the Accounts Payable account is credited to reflect the fact that the company owes this amount to its suppliers.

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many financial analysts and economists eagerly await reports on the home price index and consumer confidence index. what would be the effects of negative reports on both of these? ie: consumers feel their home value is decreasing and purchasing power is decreasing, similar to what we saw in the great recession.

Answers

The press releases for the findings on the consumer confidence index and home price index are anxiously awaited by many financial analysts and economists.

By analysts, what do you mean?

A financial, political, banking, or industry analyst is someone whose job it is to carefully investigate something in order to learn more about it or have a better understanding of it. They frequently make forecasts (=proclamations about what will occur in the future) in relation to their findings. An analyst usually works in an office. They'll examine the data and base their conclusions on the data they gather. An analyst could be a management analyst or have a financial background. You could choose to work as a news analyst or in market research.

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item 10 amy is a human resource executive for a manufacturing company that makes a variety of consumer products in several facilities. she is studying u.s. injury and illness trends from the bureau of labor statistics to identify issues the company should address in its human resource policies. as she looks at nationwide trends since 1990, amy identifies one that companies should correct. which trend represents a problem for u.s. employers to address?

Answers

Some of the injury and illness trends that have been identified in the past as problematic for U.S. employers include high rates of repetitive motion injuries, musculoskeletal disorders, and injuries related to slips, trips, and falls.

It is important for employers to address these issues by implementing appropriate training programs, ergonomic equipment, and safety protocols to minimize the risk of workplace injuries and illnesses. It is also important to comply with regulations and reporting requirements to ensure that accurate data is available for analysis and improvement.

             The Bureau of Labor Statistics is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System.

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which of the following statements regarding measures of process performance is true? group of answer choices while percent value-added time can exceed 100%, efficiency has a maximum of 100%. efficiency will always be greater than percent value-added time. efficiency and percent value-added time can never reach 100% at the same time. while efficiency can exceed 100%, percent value-added time has a maximum of 100%.

Answers

The true statement on metrics of process performance is that efficiency has a limit of 100%, whereas percent value-added time can go above 100%.

The true statement on measurements of process performance is that while percent value-added time can go over 100%, efficiency has a limit of 100%. By dividing the actual output by the standard output and multiplying the result by 100, efficiency is determined. A process that is operating at 100% efficiency is generating all of its potential output. The ratio of value-added time to total cycle time, on the other hand, is known as percent value-added time. If the value-added time is more than the whole cycle time, this ratio can be greater than 100%. This proves that the maximisation of efficiency at 100% is true, as opposed to the other claims, which are false.

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in general, suppliers of loanable funds are willing to supply more funds if the interest rate is higher. a. true b. false

Answers

In general, suppliers of loanable funds are willing to supply more funds if the interest rate is higher. This statement is true.

What expands the pool of funds available for loans?

Banks increase the amount of loanable money they are willing or able to provide in response to rising real interest rates, making more cash available. The amount of loanable cash available rises as real interest rates rise.

How does a loanable fund operate?

The interest rate is the cost in the market for loanable funds, and money is the exchanged good. Through their savings, households serve as money providers, and when the interest rate rises, they will supply a significant amount of capital.

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4. which is the base year? explain your answer. 5. a politician states that year 4 to year 5 was a time of tremendous growth. do you agree? justify your answer. 6. your history textbook uses cpi, ppi, and gdp deflator as the exact same measures. explain here to your history teacher why this is incorrect.

Answers

The base year is the year used to calculate relative changes in the value of an economic measure.

It is typically the first year in a series of data points that are being compared. For example, if you are comparing the GDP of a country over a 5-year period, the base year would be the first year in the series. Yes, I agree. The politician's statement is supported by the data since the growth rate between Year 4 and Year 5 was higher than the growth rate of the other years. No, they are not the same measures. CPI (Consumer Price Index) measures the change in the average price of goods and services purchased by households. PPI (Producer Price Index) measures the change in the average price of goods and services produced by businesses. GDP Deflator measures the difference in prices of all goods and services produced in a given year, compared to a base year.

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suppose that you worked in an organization in which employees had two main religions: half of the employees were evangelical christians, and half of the employees were muslim. the evangelical christians ran the company, and they announced that there would be no time off for muslim holidays. instead, everyone in the organization would be given time off at christmas and easter. this policy creates

Answers

The correct option is A. A toxic environment for Muslims By declaring holidays for Christian festivals but not declaring holidays for Muslim festivals the Management is discriminating against Muslims and this creates a toxic environment for Muslims.

Environment (systems), is the environment of a physical machine that may engage with the system by exchanging mass, energy, or different properties. constructed environment, built environment that offers a place for human pastime, starting from the big-scale civic environment to the private places.

The natural surroundings or herbal global encompasses all living and non-dwelling topics taking place actually, which means in this situation not artificial. The time period is most customarily carried out to the Earth or a few components of Earth. these surroundings encompass the interaction of all dwelling species, weather, climate, and natural assets that have an effect on human survival and economic hobby.

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Complete Question:

Suppose that you worked in an organization in which employees had two main religions: half of the employees were evangelical Christians, and half of the employees were Muslim. The evangelical Christians ran the company, and they announced that there would be no time off for Muslim holidays. Instead, everyone in the organization would be given time off at Christmas and Easter. This policy creates

options for answers are:-

A). a toxic environment for Muslims

B). a positive environment for all employees

C). a toxic environment for all employees

D). a toxic environment for Christians

When an insurance producer sustains a spinal cord injury in a car wreck, he is rendered permanently disabled. In order to continue his business, his wife establishes an agreement with another producer to continue his business. This authorization will last for a maximum of

Answers

When an insurance producer sustains a spinal cord injury in a car wreck, he is rendered permanently disabled. In order to continue his business, his wife establishes an agreement with another producer to continue his business. This authorization will last for a maximum of 180 days. Option B is correct.

Insurance producers are those who sell insurance goods. Insurance producers must be licensed in the state where they offer insurance. Passing a test or completing state-specific educational and/or ethical standards may be required.

An insurance producer and an agent are the same thing. These words are used interchangeably when selling insurance for a corporation or numerous providers. Although "insurance agent" is the most often heard phrase, "insurance producer" is frequently the official title linked with licensing.

Insurance producers or agents work on behalf of insurance firms. Insurance brokers, on the other hand, represent insurance purchasers. In other words, producers seek consumers who will purchase insurance goods, whereas brokers seek insurance products that will fulfill the demands of their clients.

The complete question is:

When an insurance producer sustains a spinal cord injury in a car wreck, he is rendered permanently disabled. In order to continue his business, his wife establishes an agreement with another producer to continue his business. This authorization will last for a maximum of

a) 90 days.b) 180 days.c) 365 days.d) 30 days.

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One of your regular customers calls to complain that her take-out order was incorrect and she was double charged for an item she didn't receive. What should you do?
Apologize and tell her you hope she'll order again.
Apologize and offer her a coupon for 50% off her next order.
Find out who messed up the order and make them pay for it."

Answers

As a business, it is important to handle customer complaints in a professional and courteous manner. In this situation, the best course of action would be to apologize and offer the customer a coupon for 50% off her next order.

This will help to rectify the situation and show the customer that you value their business and are willing to make things right. It is not appropriate to find out who messed up the order and make them pay for it, as this does not address the customer's concerns and could potentially create a hostile work environment. Remember, regular customers are valuable to a business and it is important to maintain a positive relationship with them.

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production costs can increase when

Answers

Production costs can increase when there are changes in the prices of raw materials, labor, and other factors that contribute to the production process.

Production costs are all of the direct and indirect costs involved in the manufacturing of a product or providing a service. Production costs can increase when there are changes in the several factors that contribute to the production process.

These can include:

1. Increases in the prices of raw materials: If the cost of raw materials, such as metals, chemicals, or agricultural products, increases, this can lead to higher production costs.

2. Increases in labor costs: If the cost of labor increases, for example, due to an increase in minimum wage or the cost of employee benefits, this can also lead to higher production costs.

3. Changes in technology: If there are changes in the technology used in the production process, such as the need for new machinery or software, this can also lead to higher production costs.

4. Increases in transportation costs: If the cost of transporting raw materials or finished products increases, this can also lead to higher production costs.

Overall, there are many factors that can contribute to an increase in production costs, and it is important for businesses to be aware of these factors in order to make informed decisions about their production processes.

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revenue in the income statement for the year ended december 31, 2021 equals the: multiple choice question. amount of cash collected from customers during 2021. amount earned by selling goods or services to customers during 2021. accounts receivable balance in the december 31, 2021 balance sheet.

Answers

Option (b), The amount gained from selling products or services to consumers throughout 2021 is represented as revenue in the income statement for the year that concluded on December 31, 2021.

What kind of revenue is shown on the annual financial statement?

Revenue, which is derived by dividing the average sales price by the quantity of units sold, is the amount of money made via ordinary business operations. The amount from the top line, also known as gross income, is used to calculate net income after costs are deducted. Sales and revenue are synonymous terms in the income statement.

Does December 31 mark the conclusion of the financial year?

The conclusion of a 12-month accounting period is what we refer to when we talk about the end of a fiscal year. If the fiscal year end and the calendar year end are the same for a corporation, the fiscal year ends on December 31.

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if manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year?

Answers

Subtract the hours of direct labor worked during the same reference period from the overhead costs.

What are overhead expenses?

Costs associated with running a business that aren't directly tied to the creation of products or services but are nevertheless necessary. Rent, gas, insurance, legal fees, paper products, promotion, payroll, and expenses are a few examples of overhead expenses.

How do you classify overhead expenses?

Overhead costs are ongoing expenditures that support your company but do not generate revenue. Since they are not a part of the business operations that produce income, these charges are frequently referred to as indirect costs.

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a company in maine sends lobsters to france. what is maine doing? select three options. importing products practicing international trade exporting products

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A company in maine sends lobsters to france exporting products, practicing international trade, importing products.

Since the corporation is trading its commodities across international borders, Maine is engaging in international trade if it sends lobsters to France. By transferring its goods from one nation, in this case the United States, to a different nation, France, it is also exporting goods. Because of the business, Maine was: Engaging in international trade when it transported lobsters to France. exporting merchandise. taking part in globalisation When goods are transported from one country to another, the one from whence they originated would be exporting those goods, which is what Maine was doing.

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you adjusted a comparable property by $39,000. if the original list price was $419,000, what was the percentage change for this adjustment?

Answers

Adjusted a comparable property by $39,000. if the original list price was $419,000. The percentage change for this adjustment is the 90.6921.

What is comparable property?

The term comparable property refers to the similarity and the difference on the local terminology. It was the support of the valuation. It was the valuation on the terms as to identify the result.

percentage change formula is the comparable property:

comparable property by $39,000

original list price was $419,000.

Difference = Old - New

Difference = $39,000 - $419,000

Difference = 380,000

percentage change = Increase ÷ Original Number × 100.

380,000 ÷ $419,000 × 100.

90.69

As a result, the significance of the comparable property are the aforementioned.

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a business buys $2,000 worth of inputs from other firms in order to produce a product. the business makes 100 units of the product and each of them sells for $45. the value added by the business to these products is

Answers

The business added a value of $2,500 to the inputs it purchased from other firms in order to produce the 100 units of the product.

Describe sales?

Sales is the process of selling products or services to customers in exchange for money or other forms of payment. It involves identifying potential customers, understanding their needs and wants, demonstrating the benefits of a product or service, and persuading them to make a purchase.

Sales can occur through a variety of channels, including in-person, online, over the phone, or through a combination of different channels. Sales professionals may work in various industries, such as retail, technology, finance, or healthcare, and may specialize in a particular product or service.

Effective sales techniques typically involve building strong relationships with customers, understanding their needs and concerns, and providing tailored solutions that meet their specific needs. Sales professionals often use a combination of communication skills, product knowledge, and persuasion techniques to build trust and rapport with potential customers, overcome objections, and ultimately close the sale. Successful sales professionals often have a combination of strong interpersonal skills, industry knowledge, and a deep understanding of the products or services they are selling.

The value added by a business is the difference between the revenue it generates from the sale of its products and the cost of the inputs it purchased from other firms.

In this case, the revenue generated by the sale of 100 units of the product is:

100 units x $45 per unit = $4,500

The cost of the inputs purchased from other firms is $2,000.

Therefore, the value added by the business to the products is:

$4,500 - $2,000 = $2,500

So, the business added a value of $2,500 to the inputs it purchased from other firms in order to produce the 100 units of the product.

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two historical leaders who practiced different leadership styles

Answers

Self-assured and endearing are traits of charismatic leaders.

Transformative leaders solicit supporters with ideas.

What is leadership?

Leadership is crucial because it encourages, inspires, and sets an example for others to make the country a safer place. Managers include a vision, offer a course of action, and cultivate a close bond with her followers.

The primary driver that separates the two is that, whereas charisma is centered on the leader, Transformative performance is constructed around like ideas and typically incorporates involvement from the current roster, not only the leader.

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If the supply of iron ore mined in Venezuela has fallen due to significant political disruptions in the country, then the
A. Equilibrium price and equilibrium quantity of Venezuelan iron ore will rise
B. Equilibrium price and equilibrium quantity of Venezuelan iron ore will fall
C. Equilibrium price of Venezuelan iron ore will fall and equilibrium quantity of Venezuelan iron ore will rise
D. Equilibrium price of Venezuelan iron ore will rise and equilibrium quantity of Venezuelan iron ore will fall

Answers

Iron ore from Venezuela will increase in price and quantity at equilibrium. Therefore, choice (A) is the best one.

What is meant by Political Disruption ?

There is ample proof all around. The political system in America is unpopular. The government and political parties no longer hold the voters' trust.

Only 10% of voters say they think Congress is doing a good job. Ten years ago, the general public was angry but generally indifferent. In today's world, when there is economic unrest, unsolved international wars, and urgent public policy issues that need to be addressed, more and more people are joining organizations and movements that aim to disrupt the status quo.

We shall investigate the reasons behind the system's extreme unhappiness.

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of your employees, 60% are happy with work conditions and 50% are happy with pay, and 20% are happy with both. what percent are happy with work conditions but not pay?

Answers

40% of the workers are happy with work conditions but not pay.

We can use the inclusion-exclusion principle to break this problem. The principle countries that the total number of rudiments in the union of two sets is equal to the sum of the number of rudiments in each set, minus the number of rudiments that are in both sets.

Let's denote the set of workers who are happy with work conditions as A, the set of workers who are happy with pay as B, and the set of workers who are happy with both as A ∩B. We're asked to find the chance of workers who are in set A but not in set B.

We know that

A| = 60% of the total number of employees|B| = 50% of the total number of employees|A ∩ B| = 20% of the total number of employees

Using the inclusion-exclusion principle, we can calculate the size of the set A ∪ B as

|A ∪ B| = |A| + |B| - |A ∩ B|

|A ∪ B| = 60% + 50% - 20%

|A ∪ B| = 90%

This means that 90% of the workers are happy with either work conditions or pay or both.

To find the chance of workers who are in set A but not in set B, we need to abate the chance of workers who are in both sets from the chance of workers who are in set A

|A \ B| = |A| - |A ∩ B|

|A \ B| = 60% - 20%

|A \ B| = 40%

thus, 40% of the workers are happy with work conditions but not pay.

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if 360,000 people each receive an average refund of $1,800, based on an annual interest rate of 3 percent, what would be the lost annual income from savings on those refunds?

Answers

The lost annual income from savings on those refunds would be $19,440,000.

To calculate the lost annual income from savings on those refunds, we need to first determine the total amount of money refunded, and then multiply it by the annual interest rate.

The total amount refunded would be:

360,000 people x $1,800/person = $648,000,000

To calculate the lost annual income from savings, we need to multiply the total amount refunded by the annual interest rate of 3 percent:

$648,000,000 x 0.03 = $19,440,000

Therefore, the lost annual income from savings on those refunds would be $19,440,000.

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if you tell your bank within 2 days of learning about fraudulent charges you are responsible for a maximum of

Answers

If you notify your bank within two days of discovering fraudulent charges, you are only liable for up to fifty dollars.

How may I contest a false charge?

erroneous claims: Call the company that issued your credit card, ask them to stop the charges, then ask for a replacement card. Errors in billing If the problem cannot be resolved through communication with the merchant, then try contacting your credit card company to dispute the transaction.

How do you handle unauthorized credit card charges?

Make an immediate call to your bank. It's crucial to tell the bank as soon as you find any unauthorized charges in order to reduce your liabilities (s). The bank might receive your notification verbally, in writing, or by phone.

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Drag each tile to the correct box.
Determine the best type of savings fund or each situation.
401(k)
rainy-day fund
sinking fund
emergency fund
money needed to start a business
paying utility bills while unemployed
unexpected plumbing expenses
retirement
Reset
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Answers

The necessary funding will be; 401(k) contributions, startup capital for a business, rainy-day reserves for retirement, sinking funds for paying bills while unemployed, and emergency funds for unforeseen plumbing costs

What does rainy day fund mean?

A rainy day fund, also known as a contingency fund, is a predetermined sum of money placed aside to be utilized when regular income is interrupted or reduced in order to maintain normal operations.

A sinking fund is one that an economic body creates by gradually setting aside income to pay for upcoming capital expenditures or debt repayment.

A financial safety net for future unforeseen disasters and/or bills is an emergency fund.

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Answer:

Trust

Explanation:

money needed to start a business - Sinking fund

paying utility bills while unemployed - Emergency fund

unexpected plumbing expenses - Rainy day fund

Retirement - 401 k

sweet catering completed the following selected transactions during may 2016: may 1: prepaid rent for three months, $2,700 may 5: received and paid electricity bill, $210 may 9: received cash for meals served to customers, $3,770 may 14: paid cash for kitchen equipment, $3,180 may 23: served a banquet on account, $1,960 may 31: made the adjusting entry for rent (from may 1). may 31: accrued salary expense, $3,590 may 31: recorded depreciation for may on kitchen equipment, $670 if sweet catering had recorded transactions using the cash method, how much net income (loss) would they have recorded for the month of may? if there is a loss, enter it with parentheses or a negative sign.

Answers

Using the cash method of accounting, Sweet Catering would only record transactions when cash is received or paid.

Therefore, the transactions that would affect net income for the month of May are as follows:

Received cash for meals served to customers: $3,770

Paid cash for kitchen equipment: $3,180

Received and paid electricity bill: $210

Net income for the month of May using the cash method of accounting would be the revenue from meals served ($3,770) minus the expenses for kitchen equipment ($3,180) and electricity ($210), which is $380.

There is no adjustment for prepaid rent or depreciation under the cash method, and the banquet served on the account and the accrued salary expense are not recorded until cash is received or paid.

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