preset costs for delivering a product or service under normal conditions are called Standard Cost.
Standard CostingThe process of creating projected (i.e., standard) costs for certain or all operations inside a corporation is known as standard costing. The main rationale for utilizing standard costs is that it is too time-consuming to gather real costs in a lot of applications, thus standard costs are utilized as a near approximation to actual costs.
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if the inflation rate is zero, then the nominal and real interest rate are the same. a. true b. false
True, if inflation is zero, the nominal and real interest rates are equal. This is because the nominal interest rate is equal to the real interest rate plus the inflation rate.
In the field of economics, inflation is characterized as a rise in the average cost of goods and services throughout a country. When the general price level rises, each unit of currency buys fewer goods and services; thus, inflation corresponds to a loss of money's purchasing power.
Economists have identified several possible causes of inflation, ranging from rising wages to increased aggregate demand to an increase in the money supply.
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after the compliance officer for xyz internal medial group identifies a provider as an outlier or different vulnerabilities are identified with risk ratings, what is an important next step? a. perform an audit and a peer review. b. provide training and develop a corrective action plan. c. perform an audit and implement disciplinary actions. d. perform an audit and develop a corrective action plan.
The development of an audit and corrective action plan is a crucial next step once Carol, the compliance officer at XYZ Internal Medical Group, recognizes a provider as an outlier or after various vulnerabilities are found with risk ratings.
Are third party healthcare organizations, such billing offices, have to follow the OIG criteria for a compliance program?Every provider who works with Medicare, Medicaid, or both is subject to mandatory compliance obligations from the OIG and other organizations, in addition to an ACA requirement for a comprehensive compliance plan. The AdvantEdge compliance plan is based on the OIG Compliance Program Guidance for Third-Party Medical Billing Companies.
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what type of information would be shared during the effort reporting component of the kickoff meeting? a.) decide when project team meetings would occur and who would be involved b.) prepare copies of the scope, governance, and schedule for team members to review c.) create a raci to share with each team member d.) detail how team members should alert the project manager when hours needed to complete tasks go beyond estimates
Answer: D - Detail how team members should alert the project manager when hours needed to complete tasks go beyond estimates
Explanation: During effort reporting, all team members should report on their actual time. If more time is needed than estimated, the program manager should be notified.
Statement of work, project scope, timeline, and deliverables This is one of the most important aspects that will be discussed during the project kick-off meeting.It establishes the project's scope and confirms whether or not everyone is on the same page.
When and where does the project kickoff meeting take place, and what is its purpose?
The project manager, the client, and the team all meet for the first time at the kickoff meeting.The team is introduced to the project's goals and client requirements during the kickoff meeting.The meeting is typically hosted by the project manager.
Establish a schedule, communicate it to your attendees, and then stick to it.Without getting too specific, talk about the fundamental roles and responsibilities. Give an overview of how you'll complete the work, including any tools or platforms you'll be using.Perform a quick timeline and other important dates.
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andy noticed that the status report seemed to be missing a section. it did not describe what the team will accomplish between now and the next report. based on andy's observation, the status report is missing the section.
ANSWER: Based on Andy's observation, the status report is missing the risk management section.
WHAT IS RISK MANAGEMENT?Identification, assessment, and prioritization of risks—defined by ISO 31000 as the impact of uncertainty on objectives—is the first step in risk management. The next step is the coordinated and cost-effective application of resources in an effort to reduce the likelihood or impact of unfortunate events or to maximize the realization of opportunities.
Risks can originate from a number of different things, such as unpredictability in global markets, threats from project failures (at any stage of design, development, production, or sustaining of life cycles), legal liabilities, credit risk, accidents, natural disasters, enemy attack, or events with unknown or unpredictable root causes.
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morrisey company has two investment opportunities. both investments cost $5,100 and will provide the same total future cash inflows. the cash receipt schedule for each investment is given below: investment i investment ii period 1 $ 1,050 $ 1,050 period 2 1,050 2,060 period 3 2,050 3,070 period 4 4,080 2,050 total $ 8,230 $ 8,230 what is the net present value of investment ii assuming an 10% minimum rate of return? (pv of $1 and pva of $1)
The net present value of investment ii assuming an 10% minimum rate of return will be $9201.
How is the net present value of an investment determined?NPV is calculated as Cash flow / I + t) - initial investment.
NPV = Today's value of the invested funds minus the projected cash flows.
ROI is calculated as follows: Total Costs / Total Benefits.
NPV=CF11+I+CF2(1+I)2+CF3(1+I)3+CF4(1+I)4−Initial investment NPV=$1,0001 + 8% + $2,000(1+8%)2 + $3,000(1+8%)3 + $2,000(1+8%)4 −$5,500
NPV=$9201.
What do you mean by investments?Making an investment entails using money now in the hopes that it will appreciate later. An investment is putting capital to use, such as time, money, effort, etc., with the hope of receiving a larger return than what was initially invested.
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the practice of applying agile methods on larger projects in which several teams are working on different features at the same time is known as
Agile methodologies can be applied to larger projects where multiple teams are concurrently working on various elements. Staging describes this. A sprint burndown chart is used to track advancement toward project completion.
What are Agile methodologies?
In order to manage a project, the Agile methodology separates it into several phases. Continuous cooperation with stakeholders and improvement at every stage is necessary. Teams cycle through a process of planning, carrying out, and assessing once the job starts. Coworkers and subcontractors must constantly work together. It is a project management approach that calls for constant communication and iterative improvement.
The foundation of managing projects is the notion that a product may be continuously improved upon throughout its project lifecycle with modifications being made quickly and effectively. Because of its scalability flexibility, and focus on customer feedback, agile management of projects is one of the most popular techniques.
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a (fill in the blank) offers a huge selection of one type of product (such as books, toys, or sporting goods) to dominate that category of goods
For the purpose of monopolizing a particular product category (such as books, toys, or athletic goods), a category killer store offers a wide assortment of just one type of product.
Why do you refer to a product?An item or service that you offer to fulfill a customer's need or desire is referred to as a product. Both real and virtual ones are possible. Physical objects come in two varieties: nondurable products and durable things, such as computers, furniture, and automobiles (like food and beverages).
What characteristics distinguish a quality product?Effective marketing with a distinct value proposition is used to promote good products. We are all aware of the importance of effective marketing for a product's success. A value proposition, yet, what is it exactly? The promise made by a business to provide value in exchange for customers sticking with its product is known as a value proposition.
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for a demand of 2000, what order quantity will result in a breakeven profit? what will happen to the profit if more than this quantity is ordered? hint: use goal seek
If more than this quantity is ordered, the profit will increase.
To answer this question, we need to use the goal seek function in Excel. The goal seeks function allows us to determine the order quantity that will result in a breakeven profit. To do this, we set our goal as “0” (for breakeven) and then input our demand of 2000. The goal seeks function will then calculate the order quantity that will result in a breakeven profit.
If more than this quantity is ordered, the profit will increase. The increase in profit will be proportional to the increase in order quantity.
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how many of the following statements are true if k's analysis involves analyzing publicly available company financial statements, government data, and industry reports and attempting to identify stocks of firms that are undervalued? statement 1: there could be predictable benefits from k's analysis in markets that are not efficient. statement 2: there could be predictable benefits from k's analysis in markets that are weak form efficient. statement 3: there could be predictable benefits from k's analysis in markets that are semi-strong form efficient. statement 4: there could be predictable benefits from k's analysis in markets that are strong form efficient. 1 2 0 3 4
There could be predictable benefits from k's analysis in the markets that are semi-strong form efficient is true if k's analysis involves analyzing publicly available company financial statements and attempting to identify stocks of the firms that are undervalued.
What are financial statements?Financial statements are the official records of company, an individual, or the another entity's financial transactions and standing. These statements may be complicated for large firms and may include a substantial number of management discussion and analysis notes in addition to the financial statements' extensive footnotes. Each line item on the cash flow statement, income statement, and balance sheet is usually further explained in the notes. Financial statements are thought to be incomplete without the notes that accompany them. Those requesting financial aid or a personal loan may be asked to submit personal financial statements. A personal financial statement typically consists of one form that is used to disclose both personal sources of income and expenses as well as personally owned assets and liabilities (debts).
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All else equal, a nonqualified deferred compensation plan is preferable from a tax perspective when the employee anticipates that her marginal tax rate will be higher when she receives the deferred compensation than when she defers receiving the compensation. True/False
False. When an employee believes that her marginal tax rate will be greater when she receives the deferred pay than when she defers receiving it, a nonqualified deferred remuneration is desirable from a tax standpoint.
Corporate leaders can delay a substantially bigger amount of their pay under NQDC schemes, as well as the associated taxes until the deferred is paid. Only if you have exhausted all of your qualifying plan choices should you think about contributing to a corporate NQDC plan.
A nonqualified deferred compensation package is a sort of retirement arrangement that enables a restricted group of highly compensated workers to benefit from tax advantages by delaying a higher proportion of their pay than is permitted under an IRS-approved qualified retirement arrangement.
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Renata is purchasing a condominium for $ 125,000. She wants to put down a down payment of 20%. Select all the true statements.
Renata is purchasing a condominium for $125,000. The down payment is 20%. The true statement is:
The down payment is $25,000
The down payment is the portion of the purchase price necessary to secure the transaction.
The down payment is an upfront expense that the buyer must pay in cash before being approved for long-term finance (loan or mortgage).
A down payment is intended to reassure the lender of the borrower's ability to repay the loan.
In the given problem, the cost for the condominium is $125,000. The down payment is 20%.
Hence,
Down payment amount = 20% x $125,000
Down payment amount = $25,000
Your question is incomplete but most probably your question was:
Renata is purchasing a condominium for $125,000. The down payment is 20%. The true statement is:
The down payment is $125,000
The down payment is $25,000
The down payment is $15,000
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______ is a management approach that seeks to utilize resources as efficiently as possible.
a) Lean
b) Sales and Operations Planning
c) Six Sigma
d) CPFR
e) a and c
Lean and Six Sigma are management approaches aimed at using resources as efficiently as possible. Option E is the correct answer here.
Lean Six Sigma is a management strategy that aims to minimize any inefficient resource consumption as well as manufacturing process flaws in order to enhance worker and business performance.
By identifying and removing flaws, the Six Sigma quality management approach aids companies in improving their existing procedures, goods, or services.
Lean and Six Sigma vary primarily in that Lean frequently affects all aspects of an organization rather than being just focused on production. These two strategies are combined by Lean Six Sigma to produce a potent toolset for dealing with waste reduction.
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you want to have $35,000 in cash to buy a car 4 years from today. you expect to earn 8 percent, compounded annually, on your savings. how much do you need to deposit today i
Given
Total =$35,000 ,tenure=4, rate=8
Principal = 35,000 / 1.36048896
Principal = 25,726.04
In order to have 35,000 in four years, you would need to deposit $25,762.04 at an interest rate of 8%.
How do you define "deposit"?A deposit is the act of giving money (or money equivalents) to an organization, most frequently a bank or other financial institution. The deposit is a credit for the party that made it (individually or as a group), and it can be refunded (withdrawn) in line with the conditions set forth at the time of deposit, transferred to another party, or applied to a future purchase.
The primary source of funding for banks is typically deposits.
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in the process of implementing the balanced scorecard approach at his company, operations manager stone wonders whether internal activities and processes add value for customers and shareholders. this involves which dimension of the balanced scorecard?
This involves internal business processes dimension of the balanced scorecard.
An internal business is a style of business method that organizations perform while not the influence or involvement of external business partners. Internal processes are a facet of the balanced card methodology, that could be a performance metric a company will use to spot areas which will would like improvement.
A shareholder of a corporation is a private or legal entity that's registered by the corporation because the legal owner of shares of the share capital of a public or corp. Shareholders could also be remarked as members of a company.
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nterest is $405 on a principal balance of $5,000; assuming a 7 month loan, what is the rate? round to the nearest cent or hundredth percent as needed.
We know that interest equals principal multiplied by time multiplied by rate.
405 = 5000 *7/12 * rate
405 * 12/5000 * 7 = interest rate
The interest rate is 13.886%.
What does interest rate mean?It is the annual rate charged for borrowing (or made by investing), expressed as a single percentage number that indicates the actual yearly cost of funds over the loan's term. We may calculate the interest rate using the interest rate formula, which is the percentage of the principle amount charged by the lender or bank to the borrower for the use of its assets or money for a specified time period. Interest Rate = (Simple Interest 100)/(Principal Time) is the interest rate formula. A $100 loan at a nominal interest rate of 6%, for example, would accrue $6 in interest ($100 X 0.06). If the loan was increased to $1,000, the borrower would still pay 6%.
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bruce, whose primary job is supervising a small production group, is not getting cooperation from all members on the cross-functional team he leads. in particular, selas, a senior marketing manager, seems to resist his direction and tries to influence team members to go in another direction. the source of conflict in this case may be
If Bruce, whose primary job is supervising a small production group, is not getting cooperation from all members on the cross-functional team he leads. The source of conflict in this case may be: A. status differences.
What is status differences?Status differences can be defined as the way in which a person experience inequality as a result of their status. Example of status difference is when a person earn high income and another person earn low income.
This scenario best illustrate status difference because Bruce is not getting cooperation from the member due to his job role which is to supervise a small production group.
Therefore the correct option is A.
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The complete question is;
Bruce, whose primary job is supervising a small production group, is not getting cooperation from all members on the cross-functional team he leads. In particular, Keylani, a senior marketing manager, seems to resist his direction and tries to influence team members to go in another direction. The source of conflict in this case may be
A. status differences.
B. a personality clash.
C. communication failure.
D. time pressure.
E. ambiguous jurisdictions.
FILL IN THE BLANK. Discount, off-price and convenience stores typically used ______ service to create a consistent experience for customers while minimizing costs.
Off-price retailers are outlets who supply high great items at low priced prices. They normally promote second-hand goods, off-the-season items etc.
Description: These retailers offer inconsistent assortment of brand identify and fashion-oriented smooth items at low prices.
In what way do retailers offer convenience to consumers?Obtaining the Product. Possession comfort is the velocity and ease with which buyers can acquire preferred products. It exists when the merchandise is in-stock and available on a well timed basis. Merchandise availability effects from a retailer's strong in-stock position, well timed production, or timely delivery
Ross Stores (Ross Dress for Less), T.J. Maxx (USA), T.K. Maxx (UK, Germany, Australia), and Burlington are examples of unbiased off-price retailers. Ross Dress for Less® is an off-price retailer with 1,480 places in the United States.
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https://brainly.com/question/21840083#SPJ4when developing a risk response plan event managers should address all of the following questions except: group of answer choices who will be responsible for monitoring the risk and implementing the response? will the risk be an absolute or speculative risk? where does the risk fit into the overall plans and what is its effect on other risks? what is the definition of the risk, its priority, and what corrective action is to be taken?
When developing a risk response plan event managers should address all of the following questions except will the risk be an absolute or speculative risk?
Risk management entails the identification, assessment, and prioritization of risks in order to minimize, monitor, and control the possibility or impact of unpleasant events or to maximize the realization of possibilities. The efficient and well-planned use of resources comes next.
Risk management is the act of identifying, evaluating, and controlling the monetary, legal, strategic, and security threats to an organization's assets and earnings.
Locating, monitoring, and controlling potential risks is the act of reducing any harm they might do to an organization. System malfunctions, data loss, cyberattacks, security flaws, and natural calamities are a few examples of potential dangers.
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when the supplier, not the demander, decides what types and amounts of health care are to be consumed, it is called a case of supplier-induced
According to the supplier-induced demand theory, healthcare practitioners that prioritize their own financial well-being over the interests of their patients produce induced demand.
Why is an issue with supplier-induced demand?If asymmetric information does not exist, the provider can utilize better information to persuade a person to purchase more of the item or service they offer than the Pareto efficient level. This causes a loss to welfare.
What is the fundamental tenet of the Sid hypothesis on supplier-induced demand?Supplier-induced demand (SID) in the context of healthcare refers to the idea wherein doctors control their patients' demand for medical services to boost the use of healthcare.
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Wescott Company has three divisions: A, B, and C. The company has a hurdle rate of 8 percent. Selected operating data for the three divisions are as follows:
Division A Division B Division C
Sales revenue $1,255,000 $920,000 $898,000
Cost of goods sold $776,000 $675,000 $652,000
Miscellaneous operating expenses $64,000 $52,000 $53,100
Interest and taxes $48,000 $41,000 $41,500
Average invested assets $8,300,000 $1,930,000 $3,215,000
Wescott is considering an expansion project in the upcoming year that will cost $5 million and return $450,000 per year. The project would be implemented by only one of the three divisions.
Required:
1. Compute the ROl for each division.
2. Compute the residual income for each division.
The ratio of an investment's annual return to its cost is known as return on investment.Positively, a higher return on investment ratio indicates a profitable investment.
Net operating income equals sales revenue minus cost of goods sold minus other operating expenses. Net operating income equals 415,000.
Net operating income = $1,255,000 -$776,000 - $64,000 = 415,000
The term "return on investment" (ROI) refers to the ratio of an investment's profit to its cost.When expressed as a percentage, an investment with a cost of $100 and a profit of $100 would have an ROI of 1, or 100%.
Is a 30 percent ROI acceptable?
A good ROI of 30 percent may depend on how long your ROI has been at 30 percent in the past.A better investment might have a one-year ROI of 20% as opposed to a three-year ROI of 30%.
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the increase in the number of car manufacturers outside of the u.s. has increased the competition against u.s. car manufacturers. what effect does this have on production costs and union wages?
The increase in the number of car manufacturers outside of the USA has increased the competition against USA car manufacturers has led to decrease production costs and union wages.
Production cost- Production costs include all direct and indirect costs incurred by businesses when producing a product or providing a service. Labor, raw materials, consumable manufacturing supplies, and general overhead are all examples of production costs.
Manufacturing costs are the total of all resources used in the production of a product. Direct materials cost, direct labor cost, and manufacturing overhead are the three categories of manufacturing costs. It contributes to the overall delivery cost.
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what effect has the internet had on porter's fifth competitive force, rivalry among competitors?multiple choice question.
The internet had porter's fifth competitive force, rivalry among competitors effect It has intensified rivalry amongst organizations.
The internet (or internet) is the global device of interconnected laptop networks that makes use of the internet protocol suite (TCP/IP) to communicate among networks and gadgets. it's far a community of networks that consists of private, public, instructional, enterprise, and government networks of nearby to international scope, connected by means of a vast array of electronic, wi-fi, and optical networking technology. The internet includes a giant variety of facts resources and offerings, along with the inter-related hypertext documents and programs of the world extensive net (WWW), electronic mail, telephony, and report sharing.
The origins of the internet date back to the improvement of packet switching and research commissioned by the United States branch of defense in the Nineteen Sixties to enable the time-sharing of computers. The linking of commercial networks and organizations by the early Nineties marked the beginning of the transition to the present-day internet and generated sustained exponential growth as generations of institutional, private, and cellular computer systems had been related to the network. although the net become broadly utilized by academia within the Nineteen Eighties, the commercialization incorporated its offerings and technologies into actually every issue of cutting-edge existence.
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which colormap would be best to use to show geographic regions that where sales increased or decreased by various amounts? diverging qualitative black and white sequential
a) Diverging colormap would be best to use to show geographic regions where sales increased or decreased by various amounts.
In the field of social studies, a colormap can be described as a map that varies in graphics to show features such as sales, projects, images, etc of a place.
A diverging colormap is used by people in a business to understand the sales and marketing of a specific geographic location.
Any sales that are increasing in this region is shown in grey color and any region that has decreasing sale is shown in white color.
A diverging colormap helps in estimating the sales of a product that can be made in an area.
The question will correctly be written as:
Which colormap would be best to use to show geographic regions that where sales increased or decreased by various amounts?
a) diverging
b) qualitative black
c) white sequential
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Organizational socialization This is the first phase of socialization, which encompasses two key concerns: realism and congruence. Anticipatory socialization / Change and acquisition / Encounter
This is the first phase of socialization, which encompasses two key concerns: Change and acquisition. There are three main stages to socialisation. The school, peer groups, and media all have an impact on secondary socialisation.
Parenthood, marriage, and employment all have an impact on how people socialise as adults. Primary socialisation acquisition in the formative years of childhood and socialization. An individual's essential identity is formed at this time. A person undergoes secondary socialisation throughout their life, both as a youngster and as they interact with new groups. Usually, this procedure involves two steps: From infancy through puberty, a person is socialised on a primary level, and on a secondary level throughout their entire life.
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suppose the real gross domestic product (gdp) equals $100 billion this year and the nominal gross domestic product (gdp) is $200 billion. this implies that the price level has increased by compared to the base year
This implies that the price level has increased by 100% compared to the base year
The GDP price index is determined by dividing Nominal GDP by Real GDP and then multiplying the answer by 100.
GDP price index = 200/ 100
= 2 x 100
= 200
The base year is 100, so the price level increased by 100%
Like the CPI, the GDP price index tracks changes in prices for consumer products and services as well as for goods and services bought by corporations, governments, and foreigners.
Real GDP is a metric that takes inflation into account and examines the rate at which all goods and services are produced in a nation for a specific year. It is referred to as a fixed cost price and is indicated in foundation year prices. It is also referred to as GDP at constant prices or GDP adjusted for inflation.
When we talk about the nominal gross domestic product, we're talking about GDP calculated using today's market values. GDP measures the monetary worth of all the goods and services a nation produces. The difference between nominal and real GDP is that the former excludes changes in prices brought on by inflation.
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findus foods company produced 370,000 units and sold 310,000 units at a sales price of $50 per unit. there were no units in beginning inventory. cost information for this period is shown in the following table: production costs costs direct materials $2.00 per unit direct labor $.80 per unit variable overhead $814,000 in total fixed overhead $481,000 in total non production costs variable selling and administrative $78,000 in total fixed selling and administrative $210,000 in total what is net income under variable costing?
Absorption Costing
Calculation of Product Cost
Particulars Amount
Direct Materials ( 370,000* $ 2.00 per unit) 740,000
Direct Labour ( 370,000 * 0.80 per unit) 296,000
Variable Overhead 814,000
Fixed Overhead 481,000
Total Product Cost 2,331,000
(/) Units produced 370,000 units
Per unit product cost $ 6.3 per unit
Calculation of Net Income
Particulars Amount
Sales ( 310,000 * $ 50 per unit) 15,500,000
Less: Variable Cost
Cost of Goods Sold ( 310,000 * $6.3) 1,953,000
Variable Selling & Administrative Cost 78,000
Contribution Margin 13,469,000
Less : Fixed Selling & Administrative 210,000
Net Income 13,259,000
Thus, Product Cost as per Absorption Costing Method is $ 6.3 per unit.
Net Income as per Absorption Costing Method is $ 13,259,000.
Variable Costing Method
Product Cost as per Variable Costing Method is $ 5 per unit.
Net Income as per Variable Costing Method is $ 13,181,000.
Calculations are provided as follows:
Calculation of Product Cost
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sushil is the director of human resources, and is meeting with several division level managers to plan staffing for the new product launch. which type of team is sushil a part of?
The director of human resources, Sushil, is meeting with a number of managers at the divisional level to plan staffing for the introduction of the new product. He is a member of the team that solves problems.
The group of individuals who work for a given organization, business sector, industry, or economy is referred to as its human resources. Human capital, or the knowledge and abilities that people possess, is a more specific concept.
Human resources can be used to develop, reinforce, or change an organization's culture. HR is responsible for many crucial aspects of business culture, including compensation, performance management and so on.
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the cost of depleted inventory for a cocktail is $0.74 and the selling price is $3.75. what is the pour cost percentage?
If the cost of depleted inventory for a cocktail is $0.74 and the selling price is $3.75 the pour cost percentage will be 19.7%
Depletion is an accrual accounting method for allocating the cost of obtaining natural resources from the earth, including lumber, minerals, and oil. In business inventory depletion is a non-cash expense, similar to depreciation and amortization, that gradually reduces an asset's cost value through regular charges to income.
The pour cost of a bar is the ratio of the price of the beverages to the money the bar makes from selling them. It is a means to calculate the bar's gross profit margin on its merchandise.
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assuming the market is arbitrage-free, if a six-month pure discount bond yields 1.8%, a one-year pure discount bond yields 2.3%, an eighteen-month pure discount bond yields 2.69%, and a two-year discount bond yields 3.09%, what should be the price of a two-year $2,000 7% par-value bond with semiannual coupons?
Cash flow total is 935.54
Given that a two-year bond yields 1.8%, the semiannual discount rate should be 2.69%.
The par value here is $1000 after two years.
Coupon rate = 6% annually, or 3% semi-annually, or $30 every six months.
Consequently, the bond's price should then be
Semi-annual
Discounted at 1.525% for periods cashflow
Cashflow:
30 0.985 29.55
30 0.929 27.88
30 0.877 26.30
1030 0.827 851.82
Price: 935.54
Cash flow is the net balance of money coming into and going out of a business at a specific point in time. A firm experiences constant inflows and outflows of cash.
For instance, money leaves the company and moves closer to its suppliers when a retailer buys inventory.
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basic principles of sensation and perception objective 1: contrast sensation and perception, and explain the difference between bottom-up and top-down processing.
When sensory receptors pick up on inputs, it causes sensation. The organizing, interpreting, and conscious involvement of those sensations are all parts of the perception.
What is perception?It takes organization, recognition, and interpretation of sensory data to represent and comprehend information or environment that is being presented. All perceptions entail neural system impulses that flow through them, which come from chemical or physical activation of sensory system. Smell is communicated by the odor molecules, hearing is transmitted by pressure waves, and vision is mediated by light striking retina of eye. In addition to recipient's learning, memory, expectancy, and attention, perception is active interpretation of these signals. The process of sensory intake raises the level of this low-level information to that of higher level information (e.g., extracts shapes for object recognition). The subsequent procedure links a person's concepts, expectations, and knowledge to the restorative and selective mechanisms that affect perception.
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