During the current year, Simpson, Inc. incurred $9,000 in fixed costs and $13,000 in variable costs. If the number of units produced is halved next year, the company will incur $4,500 as fixed costs and $6,500 as variable costs

A syndicate is an investment group that makes a private agreement to come together for the purpose of financing a large commercial project that the individual members could not finance alone

Indicate whether the statement is true or false

A company is considering producing some new Gameboy electronic games. Based on past records, management believes that there is a 70 percent chance that each of these will be successful and a 30 percent chance of failure

Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate a successful market for the product and the product actually is successful? A) 0.90 B) 0.54 C) 0.60 D) 0.63 E) None of the above