9.00 points The marketing department of Jessi Corporation has submitted the foll

Question

9.00 points The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming 1st Quarter2nd Qua Budgeted unit sales 11,000 12,000 14,000 000 sth 13,000 The selling price of the company's product is $18.00 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $70,200 The company expects to start the first quarter with 1,650 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,850 units. Required: 1-a. Complete the company's sales budget Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter ear Budgeted units sales g price per u Total sales

Explanation / Answer

Find a 95% confidence interval for the mean account balance on this store’s credit card (the t-statistic with 39 degrees of freedom is 2.02).

ANSWER:    

$1,250 ± $111.79 = ($1,138.21, $1,361.79).

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