Examlex
A survey conducted in 2011 asked employed adults from age 25 to 70 if they plan to keep a foot in the working world after retirement. Thirty-three percent of the respondents answered "very likely". A random sample of 75 adults from this age group was asked the same question. Using the normal approximation to the binomial distribution, what is the probability that more than 18 adults from this sample would very likely plan to keep a foot in the working world after retirement?
Unit Sales
The quantity of products sold by a company, not accounting for any bulk, wholesale, or grouping discounts.
Margin of Safety
The difference between actual sales and the break-even point, indicating the amount by which sales can drop before a business incurs a loss.
Degree of Operating Leverage
Degree of operating leverage measures the sensitivity of a company's operating income to a change in sales volume, indicating the impact on profits from sales fluctuations.
Contribution Format Income Statement
An income statement format that separates variable costs from fixed costs, highlighting the contribution margin.
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