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Two groups of graduate students were given rats and were told to teach them how to run mazes.Group 1 was told that they had "very smart" rats that should learn quickly.Group 2 was told that they had "very stupid" rats that should learn slowly.In actuality,neither group was any different and the rats had been randomly assigned.In spite of that,when the experiment concluded,Group 1 rats had learned the maze much more quickly.How can that be explained?
Gross Profit Margin
A financial metric indicating the percentage of revenue that exceeds the cost of goods sold, measuring a company's efficiency in managing its production costs.
Replacement Cost
Replacement cost is the current cost of replacing an asset with a new one of similar kind and quality, often used in determining insurance coverage amounts.
LIFO Layers
In inventory accounting, sections of inventory purchased at different times (and potentially at different costs) under the Last-In, First-Out method.
Inventory Group Basis
An inventory accounting method that aggregates groups or categories of inventory for valuation purposes, rather than valuing items individually.
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