Jamal, Kareem, Rashid and Associates Are in the Process of Evaluating

question 13

Multiple Choice

Jamal, Kareem, Rashid and Associates are in the process of evaluating its new client services for the business consulting division.
-Estate Planning, a new service, incurred $150,000 in development costs and employee training.
-The direct costs of providing this service, which is all labor, averages $31 per hour.
-Other costs for this service are estimated at $440,000 per year.
-The current program for estate planning is expected to last for two years. At that time, a new law will be in place that will require new operating guidelines for the tax consulting.
-Customer service expenses average $99 per client, with each job lasting an average of 450 hours. The current staff expects to bill 54,000 hours for each of the two years the program is in effect. Billing averages $46 per hour.
What are estimated life-cycle revenues?

• A) $2,484,000
• B) $208,120
• C) $4,968,000
• D) $416,240

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Definitions:

Nonresponse Error

Nonsampling error that results when some segments of the population are either more or less likely to respond to the survey mechanism.

Nonsampling Errors

Errors that occur during data collection, causing data to differ from the true values, not related to the sample being non-representative.

Coverage Error

Nonsampling error that results when the research objective and the population from which the sample is to be drawn are not aligned.

Yottabyte

A unit of digital information storage equivalent to 1,000 zettabytes or 10^24 bytes.