Use the Following Information to Answer the Question

question 20

Multiple Choice

Use the following information to answer the question. In a recent poll of 1100 randomly selected home delivery truck drivers, 26% said they had encountered an aggressive dog on the job at least once.
-What is the standard error for the estimate of the proportion of all home delivery truck drivers who have encountered an aggressive dog on the job at least once? Round to the nearest ten- thousandth.

• A)0.1322
• B)0.0002
• C)0.0132
• D)0.0141

Understand the relationship between marginal cost and average total cost and how it influences production decisions.

Recognize the significance of economies of scale in production.

Understand the distinction between fixed costs and variable costs and their behaviour in production.

Identify the role of fixed capital and labor inputs in cost management.

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Definitions:

Selling Price

The amount of money charged for a product or service.

Net Operating Income

An accounting term that represents the revenue minus the cost of goods sold and operating expenses, excluding taxes and interest.

Degree Of Operating Leverage

A measure, at a given level of sales, of how a percentage change in sales will affect profits. The degree of operating leverage is computed by dividing contribution margin by net operating income.

Variable Expenses

Costs that vary in direct proportion to changes in an activity level or volume, such as sales commissions.