THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 24

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The U.S.Senate has 100 members.62 senators' offices obtained certain information from the individuals responsible for managing correspondence.Of these,40 specified a minimum number of letters that must be received on an issue before a form letter in response is created.
-A college has 3,400 undergraduate students and 600 graduate students.Researchers are interested in the amount of money spent in a year on textbooks by these students.Initially,simple random samples of 25 undergraduate students and 25 graduate students were taken.The sample standard deviations for the amounts spent were $45 and $64,respectively.A 95% confidence interval for the overall population mean that extends $6 on each side of the sample point estimate is required.Estimate the total number of additional sample observations needed to achieve this goal under proportional allocation.

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Definitions:

Fixed Cost

Costs that do not vary with the level of production or sales.

Period Cost

Expenses not directly tied to production activity, such as administrative and selling expenses, that are expensed in the accounting period in which they are incurred.

Contribution Margin Ratio

A metric that shows the percentage of sales revenue left after variable costs are deducted, indicating how much contributes to fixed costs and profits.

Operating Income

Profits generated from a company's core business operations, excluding deductions of interest and taxes.