The Quarterly Operating Statement for a Firm Gives the Following

question 6

Multiple Choice

The quarterly operating statement for a firm gives the following information: Number of pieces manufactured: 100
Number of pieces sold: 100
Total cost of goods sold: $800
Average cost of single piece: $5
Net sales: $1,000
It can be inferred that the firm's gross margin is _____.

• A) $92
• B) $2
• C) $1800
• D) $200
• E) $1818

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Definitions:

Scale of Measurement

The method or standard used to quantify the variables researchers are interested in, such as nominal, ordinal, interval, and ratio scales.

Interval

Scale used to categorize, rank order, and arrange data so that an equal interval unit appears between each of the scores.

Descriptive Statistics

Set of statistical analyses that can be used to organize and describe the characteristics of a set of data.

Inferential

Pertaining to inferential statistics, which involves making predictions or inferences about a population based on a sample of data.