If ty chooses a smartphone simply because he perceives it to be rated highest on megapixels, which he believes is the most important attribute in a smartphone, he is using a(n) lexicographic heuristic to help make his purchase decision. The study of heuristics analyzes how people make decisions when optimization is out of reach. It focuses on two questions, the first and descriptive, and the second is normative.
Answer:
1. B. The actual proportion of Greeks who believe they are suffering.
2. This is the proportion of Greeks in the sample considered, i.e p = 0.25
3. n = 250 phat - 25% — 0.25 z score - 5%/2 — 2.5 on each end — z = 1.9 se - use formula - .0470.25 +/- 1.9 x .027+: .3675 -: .1325.
4. A. wider
5. B. narrower
Explanation:
In this question, it is essential to estimate the actual population of Greeks that believe they are extremely poor and also suffering. This will be used for proper sampling. Furthermore, in the sample considered, it was discovered that the parameter point estimate is approximately 25% and a change in the sample size or confidence level will alter the interval.
Answer:
$17,867
Explanation:
The computation of the overhead cost assigned to Product V8 is shown below:
<u> (a) (b) (a × b) c (a × b × c) </u>
<u>Overhead Activity Overhead Driver ABC V8 V8 </u>
<u> driver amount quantity Rate Driver Overhead
</u>
Maching
Costs Machine
Hours $11,700 10000 1.17 3100 3627
Order
filling No of orders $17,800 1000 17.8 800 14240
Total V8 overhead cost assigned is
= $3,627 + $14,240
= $17,867
