Answer: a. 2.8
Explanation:
Given : Population mean : 
Sample size : n= 49> 30 , the sample is a large sample we use z-test.
Sample mean = 
Standard deviation : 
The test statistic for population mean is given by :-
Hence, the value of the test statistic is 2.8
Answer:
There are several ways in which a young entrepreneur can carry out purchasing activities responsibly, including:
1. Measured production of inventory or units of products- If an entrepreneur is producing bicycles for instance, (s)he should only spend on inventory that (s)he anticipates will be sold to customers or purchased by retailers. For example, let's assume that the entrepreneur has a purchase order from a retailer such as K-Mart for 500 bicycles. In this case the entrepreneur should only produce around 550 bicycles rather than 700 or 1000 bikes, thus, purchasing supplies and producing inventory in accordance with demand for his/ her bicycles.
2. Lowering costs of production where possible- Firstly, this can be done by purchasing supplies and materials for inventory in bulk. Secondly, the entrepreneur could outsource the manufacturing of his/her product to countries (such as China) where production costs are significantly cheaper.
Answer: The supply of vegetables has shifted to the left along an inelastic demand curve
Explanation: The quantity of vegetables sold has been reduced by 20 percent, which simply means the aggregate market supply curve has experienced a drop/decrease and that is usually indicated by a complete shift of the supply curve to the left.
Furthermore, we can determine easily if the demand is elastic or inelastic, since the question has stated the percentage change in quantity demanded as 20% and the percentage change in price as 30%.
The coefficient of elasticity is calculated as
E = %change in quantity demanded/%change in price
E = 20/30
E =0.66
Since the coefficient of elasticity is less than 1, then it means demand is inelastic.
Answer:
This question is business question so I will answer it from business perspective. The least that I can do is offer her a one year package with an advance of $50. The monthly installment along with the interest that she will pay would be:
Monthly Installment including interest = (Amount Due/12months) + (Outstanding Amount * Interest Rate) ....Eq1
So I assume the interest rate is 5% and as we know the outstanding amount is $150.
By putting the values, we have:
Monthly Installment including interest = ($150/12months) + ($150 * 5%)
= $12.5 + $7.5 = $21 per month
Now the outstanding amount for the second month = $150 - $12.5 = $137.5
Now we will use this new outstanding amount to calculate the monthly installments including the interest by putting the values in the equation 1. Similarly for the next coming months the installments would be calculated.
