Lisa and Joseph Own a Lighting Store

question 49

Short Answer

Lisa and Joseph own a lighting store. Last year, their net profit was $245,000. If last year's operating costs were $629,501, what were last year's gross profits?

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Definitions:

Henry L. Gantt

An American mechanical engineer and management consultant who developed the Gantt chart, a popular project management tool.

Statistics

The branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data.

Scientific Management

A management theory that examines and restructures workflows to enhance economic effectiveness and labor productivity.

Scientific Management

A management theory developed by Frederick W. Taylor that emphasizes efficiency and productivity by scientifically studying work processes and setting performance standards.