The Following Data Represent the Salaries (In Thousands of Dollars)

question 80

Essay

The following data represent the salaries (in thousands of dollars) of a sample of 13 employees of a firm: $$\begin{array} { | l | l | l | l | l | l | l | } \hline 26.5 & 23.5 & 29.7 & 24.8 & 21.1 & 24.3 & 20.4 \\\hline 22.7 & 27.2 & 23.7 & 24.1 & 24.8 & 28.2 & \\\hline\end{array}$$ Compute the variance and standard deviation of the salaries.

Recognize the role of opinion leaders in the diffusion of innovation curve.

Understand the strategies companies use to maintain competitiveness with new products.

Grasp the concept of new-to-the-world products and their impact on markets.

Understand the concept of diffusion of innovation and its significance in marketing.

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Definitions:

Segment Margin

The amount of profit or loss generated by a specific segment of a business, considering only the revenues and expenses directly attributable to that segment.

Division's

A specific segment or branch of a company or organization that operates semi-independently or focuses on a particular task, product line, or service.

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in the cost of goods sold and treats fixed manufacturing overhead as an expense of the period.

Retail Clothing Store

A business establishment that purchases clothing from manufacturers or wholesalers and sells these directly to consumers.