organised players is set to change the scenario. Organized retail segment has been growing at a blistering pace‚ exceeding all previous estimates. The fastest growing segments have been the wholesale cash and carry stores (150 per cent) followed by supermarkets (100 per cent) and hypermarkets (75-80 per cent). Further‚ it estimates the organised segment to account for 25 per cent of the total sales by 2011. Shopping in India has witnessed a revolution with the change in the consumer buying behaviour
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CHAPTER 7 THE TWO-VARIABLE REGRESSION MODEL: HYPOTHESIS TESTING QUESTIONS 7.1. (a) In the regression context‚ the method of least squares estimates the regression parameters in such a way that the sum of the squared difference between the actual Y values (i.e.‚ the values of the dependent variable) and the estimated Y values is as small as possible. (b) The estimators of the regression parameters obtained by the method of least squares. (c) An estimator
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changes when placed in water. Identify the independent and dependent variables. If the rock is placed in water‚ then it’s mass will be added to the original mass. The independent variable has to do with the amount of water put onto the rock‚ the dependent variable is the mass of the rock after it has been in the water. 3. Describe‚ in detail‚ a procedure to test your hypothesis. Identify the controlled variables. The controlled variables is the mass of the rock before it has gone into the water. It’s
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CHAPTER 6 COST BEHAVIOR TYPES OF COST BEHAVIOR PATTERNS 1. Variable Cost 2. Fixed Cost 3. Mixed / Semi-variable Cost Cost Structure – the relative proportion of fixed‚ variable‚ and mixed costs found within an organization or firm. 1. Variable Cost - its total dollar amount varies in direct proportion to changes in the activity level. Example: Number of Trucks Radiator Cost per Total Radiator
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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Cost Behavior Cost behavior is term for describing whether a cost changes when the level of output changes. The cost can vary proportionately with the changes in the level of activity or unaffected by changes in the level of activity. Costs can be variable‚ fixed‚ or mixed. A cost that does not change in total as output changes is a fixed cost. A variable cost‚ on the other hand‚ increases in total with an increase in output and decreases in total with a decrease in output. Understanding how costs
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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CHAPTER 3 ACTIVITY COST BEHAVIOR LEARNING OBJECTIVES AFTER STUDYING THIS CHAPTER‚ YOU SHOULD BE ABLE TO: 1. Define and describe fixed‚ variable‚ and mixed costs. 2. Explain the use of the resources and activities and their relationship to cost behavior. 3. Separate mixed costs into their fixed and variable components using the high-low method‚ the scatterplot method‚ and the method of least squares. 4. Evaluate the reliability of the cost formula. 5. Explain how multiple regression
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We already know that following are the important cost concepts related to the production process of a firm: • Fixed Cost • Varibale Cost • Average Cost • Marginal Cost please refer to following page Introduction to Cost Concepts to understand various cost concepts in detail. Here we will briefly state again the meaning of above stated cost concepts for better understanding of the module on short run cost analysis. Fixed Cost is that cost which does not change (that is either goes up or
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CHAPTER 22 The Costs of Production Topic Question numbers ___________________________________________________________________________________________________ 1. Costs: explicit and implicit 1-9 2. Profits 10-23 3. Short run versus long run 24-31 4. Law of diminishing returns 32-55 5. Short-run costs 56-157 6. Long-run costs 158-193 Last Word 194-196 True-False 197-210 ___________________________________________________________________________________________________
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