Response:
The correct selections are options A and B
Clarification:
The CRM system refers to a system designed to collect and manage customer account data within a unified database and provide access through various networks such as intranet and internet. Thus, the involved components include data warehouses and databases, and it functions as a sophisticated analytical tool.
Answer:
- As explained below, with the individual’s score in the 0.03125 fraction of top candidates, they can anticipate securing a position.
Explanation:
Utilizing Chebyshev’s Theorem is key.
This theorem is valid for any dataset, irrespective of its shape.
Chebyshev's Theorem states that at least 1−1/k² of the data falls within k standard deviations from the mean.
For this data set, the specifics are:
- mean: 60
- standard deviation: 6
- score: 84
The number of standard deviations that 84 is from the mean can be calculated as:
- k = (score - mean) / standard deviation
- k = (84 - 60) / 6 = 24 / 6 = 4
Hence, the individual’s score is 4 standard deviations above the mean.
How significant is this?
According to Chebyshev’s Theorem, at least 1−1/k² of the data is within k standard deviations from the mean. Setting k = 4 gives us:
- 1 - 1/4² = 1 - 1/16 = 0.9375
- This implies that half of 1 - 0.9375 exceed k = 4: 0.03125
- Consequently, 1 - 0.03125 is below k = 4: 0.96875
With 70 job openings and 1,000 applicants, the ratio is 70/1,000 = 0.07, indicating the company seeks the top 0.07 of applicants.
Given the individual scores in the top 0.03125 of applicants, they can expect to obtain a job.
Response:
Refer to the explanation section
Clarification:
The disparity between the inventory count recorded and the actual count suggests that the goods in stock have either been sold or lost. For the sake of ongoing operations, it is presumed they have been sold. Accordingly, the journal entry to document the sale is -
December - 31 Cost of goods sold Debit 45,000
($415,000 - $370,000)
Merchandise Inventory Credit 45,000
(To record the sale of merchandise: adjusted)
The right choice among the options provided is; "<span>c. price, quantity demanded".
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The demand curve is a graphical tool that depicts the relationship between the price of a good and the quantity demanded. Generally, the price appears on the vertical axis to the left, while the quantity demanded is represented along the horizontal axis. There exists an inverse relationship between these two variables, indicating that as the price goes up, the quantity demanded decreases.
Answer:C) All of these statements are valid.
Explanation:
Sensitivity analysis examines how the optimal decision and EMV fluctuate when one or more inputs change.
Sensitivity analysis evaluates how various values of an independent variable influence a specific dependent variable under certain assumptions.
It is applied within particular constraints that rely on one or more input variables.
A contingency plan constitutes a strategy within a multistage decision scenario that designates which decision to implement for every potential outcome.
A contingency plan is a category of action tailored to assist governance in effectively responding to significant future events or situations that may or may not arise.
A multistage decision problem refers to a situation where decisions and observations of uncertain outcomes interchange.
