The economists who are forecasting a harvest of 2.4 billion bushels for the year, with a possible error of 10% in their forecast. Using the differentials to approximate the corresponding error in the predicted price per bushel of soybeans is 1.197.
What is approximation error?The difference between an exact value and an approximation to it is the approximation error in a data value or differentials. This error can be expressed as a relative error or as an absolute error (the magnitude of the mismatch in numbers) (the absolute error divided by the data value).
If x increases from x=a to x=a + dx, one can utilize the differential dy = f (a) dx to approximate the change in y.
With the help of this formula we can calculate the error:
|∆p| = |dp/dx|∙|∆x|
= | d{ 56/(2∙x² + 1) ]/dx | ∙ |∆x|
= | 56∙(-1)∙2∙(2x)/(2∙x² + 1)² ] | ∙ |∆x|
= | -224∙x/(2∙x² + 1)² | ∙ |∆x|
for
x = 1.9
∆x = 0.1∙1.9 = 0.19
|∆p| = 224∙1.9/(2∙(1.9)² + 1)² | ∙ |0.19| = 1.197
Therefore the possible approximate error of a factor 2 is in the numerator would be taking in derivative concept.
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All else being held constant, an increase in the price of a good would necessarily:
Which would you expect to be the biggest amount on your pay stub?
A.) take Home Pay
B.) Net Income
C.) Gross Income
D.) Required Deductions
Answer:
Gross Income is the answer!
Explanation:
Answer: C
Explanation: Apex
If services for the month total $3,300 in cash and $700 on account, the cash account increases $700.
a. True
b. False
The basket of goods in the consumer price index consists of about _________ products; that is, several hundred specific products in over __________ broad-item categories.
The basket of goods in the consumer price index consists of about 80,000" products; that is, several hundred specific products in over 200 broad-item categories.
What is consumer price index?The Consumer Price Index (CPI) is a gauge of how prices for a market basket of consumer goods and services have changed on average over time for urban consumers.
The tool used to gauge inflation is the consumer price index (CPI). It is used to calculate the typical difference in pricing of household goods between two specified periods. It is an overall assessment of product pricing trends while maintaining quality.
The Office for National Statistics is responsible for publishing the CPI. It calculates the average monthly change in prices for the majority of UK households' purchases of goods and services. The government bases its inflation objective and state-level inflation increases on the CPI.
Thus, 80,000 and 200
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If a customer pays a retailer in cash, he is likely to remain a mystery to the retailer because his name is not attached to the money. retailers can tie the customer to cash transactions and track the customer's activity if they can convince the customer to use a _____.
A b2b buy-side marketplace typically uses what kind of auction
Brian has just finished college. He wants to set up a small business to make and sell fireworks. He registers his company and acquires a license from the government. He finds that most of his competitors are selling fireworks at an extremely low price. He would like to make more money, so he decides to innovate and develop better fireworks. He sells his fireworks at a higher price, and they are a huge hit with the customers. After a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. He even starts exporting fireworks overseas. Which type of economy does this scenario describe?
mixed economy
command economy
communist economy
traditional economy
market economy
Which is the correct order of entities who benefit when banks make a profit
1. employees, shareholders, and the economy
2. shareholders, shoppers, and the economy
3. employees, companies, and the economy
4. shareholders, companies, and the economy
I believe the answer is: 4. D. Shareholders, companies, and the economy
When bank make a profit, it first need to spread its dividend proportionally to the percentage of ownerships that the shareholders have. After that , the amount of profit could be used as loan for companies to expand their operation. When this happen, the amount of wealth accumulated in a country would be increase, which would positively benefit the economy as a whole.
When two or more goods are being purchased, the utility-maximizing combination is the person's budget is exhausted and _______________?
When two or more goods are being purchased, the utility-maximizing combination is the person's budget is exhausted and Combustion.
What is purchase?A purchase is when a person makes a purchase or acquires possession of a product. A price must be paid in order to purchase an item. A laptop, an apartment, a car, or even some shampoo can be the purchased object.
The idea of utility maximization states that people and businesses should aim to maximize their level of happiness as a result of their spending decisions.
By evaluating the marginal utility between two alternatives and then choosing the one that has the highest combined pleasure inside these budgetary constraints, one can identify the mixture of products or services that relates to the way.
The choice that results in the highest degree of satisfaction has an impact on the choice.
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The utility-maximizing combination occurs when a consumer's budget is fully used and when the last unit of currency spent on each good yields the same level of marginal utility, ensuring equal marginal utility to price ratios for all consumed goods.
When two or more goods are being purchased, the utility-maximizing combination is when the person's budget is exhausted and the ratios of marginal utility to price are equal for all goods. In economics, this reflects a condition where consumers have allocated their budget in such a way that the last unit of currency spent on each good provides the same level of marginal utility, often referred to as equi-marginal principle. This outcome is achieved by following a general rule: always choose the item with the greatest marginal utility per dollar until the budget is fully exhausted, ensuring the marginal utility per dollar spent is the same across all consumed goods.
This concept is central to the theory of consumer choice and the notion of indifference curves and budget constraints, representing the tradeoffs and decisions a consumer makes to achieve maximum satisfaction (utility) from their goods given their budget constraints.
The most common form of marketing organization consists of ________ reporting to a marketing vice president who coordinates their activities.
The most common form of marketing organization consists of functional specialists reporting to a marketing vice president who coordinates their activities.
What is organization?
The word “organization” refers to the structure and hierarchy of the workplace as well as the shared objectives of its participants. The word “organization” is primarily used in the workplace and in business contexts. An organization are the based on the management without management are not the proper functioning of the organization.
The functional specialist of the marketing organization is the specialist on her responsibility and the role. The marketing management are the of functional specialists of the role is research in the market, command on the promotion and advertisement, distribution of the channel are the and maintain the customer relations.
As a result, the marketing organization consists of the functional specialists are they coordinate the marketing activity.
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If the attention-getter of a sales message does not introduce a product, _____
If ever the attention-getter isn’t able to establish the manufactured goods, the service or scheme, it must lead logically to the introduction. It is called being Cohesive. Being cohesive is the extent wherein the team members remain united in pursuing a common goal for the business.
Clint prepares and sells trail mix at his store. this week, he uses 3/8 of his supply of raisins to make regular trail mix and 1/4 of his supply to make spicy trail mix.if clint uses 20 pounds of raisins this week, how many pounds of raisins did he have at the beginning of the week?
To find Clint's initial supply of raisins, we set up an equation using fractions representing how much he used for different mixes and solved it to find he had 32 pounds initially.
To determine how many pounds of raisins Clint had at the beginning of the week, we need to set up an equation based on the information provided.
Clint used 3/8 of his supply for regular trail mix and 1/4 of his supply for spicy trail mix. Let's denote his initial supply of raisins as x pounds.
We can express the equation as:
(3/8)x + (1/4)x = 20 poundsTo simplify calculations, we need a common denominator for the fractions, which is 8:
(1/4)x can be converted to (2/8)xNow, the equation looks like this:
(3/8)x + (2/8)x = 20 poundsCombining the fractions:
(5/8)x = 20 poundsTo solve for x, multiply both sides of the equation by the reciprocal of 5/8, which is 8/5:
x = 20 * (8/5)x = 160/5x = 32 poundsTherefore, Clint had 32 pounds of raisins at the beginning of the week.
Xyz company is a low-cost provider. xyz is most susceptible to
What is a tax ? (personal finance )
Workplace managers who want to foster novel ideas and adaptive responses to new challenges should try to promote the ________ of their employees.
The answer is intrinsic motivation. It is because when the workplace managers promote or increases the intrinsic motivation of their employees, there will be a development with the working process and their capabilities will be heightened in a way that they may perform an excellent performance and to be able to adopt with new changes and ideas.
the least powerful types of laws are
Scenario:
The government of Country Q has just implemented a new tax on goods imported from neighboring countries. The government hopes that citizens of Country Q will purchase fewer items from neighboring countries and more items produced within Country Q's borders.
Based on the information provided, what type of tax has Country Q implemented?
A. an income tax
B. a tariff
C. a corporate tax
D. an excise tax
Based on the information provided, the type of tax that Country Q has implemented is B. a tariff.
A tariff is defined as a tax or duty to be paid on an import or export. Since the government has implemented a new tax on goods that are being imported, they have created a tariff on those items. Now that there is a tariff in place, the government will collect more money on the taxable items coming into the country.
Question # 13 response is required response is required _________________ is the process of legal negotiation that allows an accused person to plead guilty to a lesser charge in return for a lighter sentence.
Answer:
Ed gen uity says its plea bargaining
Explanation:
Which curves would be affected by the government imposing a $50,000 license on all liquor stores?
The use of only a portion or percentage of the available outlets in each geographic area for market exposure is called ________ distribution.
Answer:
Selective distribution is the correct answer.
Explanation:
The convenience offered by digital communication needs to be weighed against __________ and __________ concerns.
A nation has a GDP of 685m. It has a growth rate of 4%. How long will it take the nations GDP to double?
On friday, you drove 145 miles to stay at your grandmother's house. on sunday, you returned home and calculated that the round trip travel time was 5 hours. what was your average speed?
The average speed is calculated by dividing the total distance traveled by the total time spent for the travel. It is given in this item that the distance covered in the one-way trip is 145 miles. Multiplying this by 2 will give us the total distance covered equal to 290 miles. To calculate for the average speed, we divide this by 5 hours.
This is as shown below,
Average speed = (290 miles/5 hours) = 58 miles per hour
ANSWER: 58 mph
Establishing international treaties that ban the transfer of potentially harmful species from one country to another is a good way to control ____.
Security a has an expected rate of return of 12% and a beta of 1.10. the market expected rate of return is 8% and the risk-free rate is 5%. the alpha of the stock is __________.
An _______ ______ is a mineral deposit that has been tested and is known to be of sufficient size, grade, and accessibility to yield a profit.
Some erp systems integrate _________ capabilities that allow sales departments to manage call centers, support customers, and keep track of sales commissions.
ERP systems may include CRM capabilities for managing customer relations, support, and sales activities, enhancing targeted marketing efforts, and improving business intelligence.
Some ERP systems integrate customer relationship management (CRM) capabilities that allow sales departments to manage call centers, support customers, and keep track of sales commissions.
These integrated systems facilitate a comprehensive approach to handling company interactions with current and prospective customers. They consolidate data from various communication channels, enabling companies to handle customer support, sales tracking, and individual customer monitoring efficiently.
For instance, CRM components within an ERP system can automatically recognize individual customers and tailor services to them, ensuring higher customer satisfaction and optimized sales efforts. Additionally, integrating CRM capabilities with ERP systems supports targeted marketing efforts and improves overall business intelligence.
Integration with sales organizations, social media engagement, and access to customer contact information (when permissible) significantly enhances the effectiveness of a company's sales strategy.
What happens if you don't pay your car insurance premium for your vehicle?
B. suppose that fun world considers charging an admission fee, even though it maintains the price of each ride at $5. what is the maximum admission fee it could charge? (assume that all potential customers have enough money to pay the fee)
Lets say an airplane company has fixed costs of $100 million and variable costs per unit of $2 million. planes sell for $3 million each. what us the company's break even point in terms of the number of planes that need to be told just to beak even