The Sequence Shows a Companyʹs Daily Sales, in Thousands of Dollars

question 9

Essay

The sequence shows a companyʹs daily sales, in thousands of dollars, for the business days during the month of
September. Find the standardized test statistic, G, to test for randomness. $$\begin{array} { r r r l l c l l l l } 10 & 10 & 15 & 12.5 & 20 & 12.5 & 10 & 10 & 12.5 & 20 \\8 & 10 & 10 & 20 & 15 & 9 & 12.5 & 12.5 & 20 & 17.5\end{array}$$

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Definitions:

Activity

An event that causes the consumption of overhead resources.

Variable Cost Per Unit

The cost that varies with the level of output, computed on a per-unit basis.

Fixed Cost

A fixed cost is a business expense that remains constant regardless of changes in production levels or sales volumes.

Relevant Range

The span of activity or production level within which the assumptions about fixed and variable costs are valid.