The Following Table Shows the Probability of Demand for Automobiles

question 41

Multiple Choice

The following table shows the probability of demand for automobiles used in an Excel simulation. The "= RAND() " function results in a random number for week #1 of 0.2239.The "= VLOOKUP" function is used with the table above to generate a random car demand for week #1.The resulting random car demand for this week is:

• A)1 car.
• B)2 cars.
• C)3 cars.
• D)4 cars.

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Definitions:

Double-Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate.

Land Account

An account used in accounting to record the cost of land owned by a company.

Broker's Fees

Charges paid to an intermediary for their services in facilitating transactions like buying or selling stocks or real estate.

Purchase Price

The amount of money paid to acquire a good, service, or asset, often before any discounts or adjustments.