If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will

Answer:

The true statements regarding the market are:

1) The cupcakes are priced below their equilibrium level. This is evident as excess demand exists, which wouldn't be the case at the equilibrium price.

3) Customers getting cupcakes are those who value them the most, seen through their willingness to queue before the bakery opens.

4) The bakery does not rely solely on price for distributing cupcakes. Timing plays a role; only those who arrive early get them.

Statements (2) and (4) are incorrect because those conditions only hold true at the equilibrium point.

Response:

The yearly return on the investment in this sculpture is -4.46%.

Details:

Let PV represent the investment amount, while FV is the value after t periods.

FV = PV(1+r)^t

(1+r)^t = FV/PV

1 + r = (FV/PV)^(1/t)

r = (FV/PV)^(1/t) - 1

Here, t is the duration from 1999 to 2003, so t = 2003 - 1999 = 4 years.

FV is $10,311,500.

PV is $12,377,500.

  r = ($10,311,500/$12,377,500)^(1/4) - 1

  r = -0.0446

Consequently, his yearly rate of return on the sculpture is -4.46%.

Answer:

Probability = 0.3557

Explanation:

Data provided

Young adults age range = 20 to 39

Proportion skipping breakfast p = 0.238

Sample size n = 500

Objective

We aim to determine the probability that more than 122 of Lance's sampled individuals do not eat breakfast regularly.

Solution

Utilizing the Normal Approximation for the Binomial Distribution,

let's define our random variable as x:

x ~ Bin (n,p).............1

Using Normal Approximation gives us:

x ~ Normal Approx (np, npq).................2

This simplifies to:

x ~ (500, 0.238)  

where we know q will be:

q = 1 - p

q = 1 - 0.238

q = 0.762.............3

Hence, we find:

x ~ Normal Approx (119, 90.678)

Now we want to compute P(X > 122).

First, we convert this to Z:

z = ................4

Where the mean is = np

and standard deviation is

For P(X > 122, we evaluate:

............5

This results in P(Z > 0.37).

Thus,

Probability = 1 - P(Z < 0.37)

Next, we'll refer to the z table:

Probability = 1-0.6443

Probability = 0.3557

Answer:

12%

Explanation:

The revenue generated from the investment in the business is termed as return on investment. It is calculated by dividing net income over the period by the total investment amount made in the business.

In this situation, we are utilizing operating income and operating assets to determine the return on investment.

North division

Return on Investment = (Operating Income / Operating Assets) x 100

Return on Investment = ( $72,000 / $600,000 ) x 100 = 12%