Mark's Ceramics spent $4000 on a new kiln last year in the belief that it would cut energy usage 25% over the old kiln.This kiln is an oven that turns "greenware" into finished pottery.Mark is concerned that the new kiln requires extra labour hours for its operation.Mark wants to check the energy savings of the new oven,and also to look over other measures of their productivity to see if the change really was beneficial.Mark has the following data to work with:
Were the modifications beneficial?
Definitions:
Specific Risk
Risk associated with individual investments or a small group of assets, distinct from market risk.
Two-factor Model
A Two-factor Model in finance is an asset pricing model that uses two variables to calculate the value of an asset or the expected return.
Commodity Prices
The market prices for raw materials or primary agricultural products.
Market Risk
The risk of losses in investments due to factors that affect the entire market or economy.
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