Does anyone have all the answers to practice test #1 that he posted online?

2/6/2006 7:12:29 PM

here is what i got. correct me if i'm wrong on any of these

1a
2b
3e
4b
5d
6a
7e
8a
9b
10a
11a
12c
13b
14e
15c
16c
17b
18d
19d
20d
21d
22b
23b
24b
25d
26c
27e
28a
29a
30d
31b
32b
33e
34c
35e
36a
37e
38a
39a
40c

2/6/2006 10:39:20 PM

Thanks

2/7/2006 1:33:23 AM

22 is worng...the answe should be A 20 dollars...you only subtract variable costs from the selling price, fixed cost is not included.

2/12/2006 10:05:45 PM

when he went over the low tech marketing handout in class, he said when a question asks "what's the margin?" it is not the $ amount he's looking for.... it should be the %

referring to (b) margin calculations in low-tech marketing notes, we should calculate the margin as $50-$30=$20 then calculate the margin in percentage terms like this:

$20 / $50 = .4 = 40%

so that's why i think the answer is C 40%

2/13/2006 2:49:04 PM

just wanted to let everyone know the correct answer is E. $20 and 40%

2/13/2006 5:23:03 PM

yeah, NCSUbunny is right, E is the correct answer. i dont know what was i thinkin.

2/13/2006 6:51:59 PM

yea i was confused too.. tricky question.. hope he doesn't have lots of those



[Edited on February 13, 2006 at 6:55 PM. Reason : nvm.. answered in other thread :p]

2/13/2006 6:53:49 PM

why are there 3 threads for this one freakin class...

2/13/2006 8:15:20 PM

are you sure about 24 and 25, on 24 if the retailer had a 40% margin and then sells them for 80 its 80*.4 which equals 32 not 48. and 25 isnt the break even point measured from the variable in stead of the fixed?

2/13/2006 10:41:15 PM

i figured it out this way for #24:

40% retailer margin
$80 consumer price

x / $80 = 40%
x = $32

$80 - x = $32/$80 = 40%

solved for x = $48

and for #25:
BEV = fixed costs in $ / dollar margin per unit

[Edited on February 13, 2006 at 10:57 PM. Reason : .]

2/13/2006 10:56:38 PM

could someone break down #18 to show what we are supposed to subtract from the gross sales. and also anyone know why we should use the variable cost for #26, i thought break even point was just used for fixed costs?

2/13/2006 11:45:42 PM

#18:
net sales (or sale revenue) = gross sales - rtn & allowances - sales discount
net sales = 1,200,000 - 100,000 - 100,000 = 1,000,000

gross margin = sale revenue - COGS
gross margin = 1,000,000 - 500,000 = 500,000
gross margin can also be calculated as a percentage: 500,000 / 1,000,000 = 50%

so the answer is d. B and C (500,000 and 50%)

#26:
manufacturer's fixed costs is 700,000
his variable cost is $2.50 per unit sold
his selling price is $6.00 per unit
manufacturer's dollar margin = $6.00 - $2.50 = $3.50 per unit
BEV = fixed costs in dollars / dollar margin per unit = 700,000 / $3.50 per unit = 200,000 units

so the answer is c. Approximately 200,000

2/14/2006 12:02:04 AM

thanks

2/14/2006 12:10:55 AM

im pretty sure 18 is just b because to get gross margin you have to subtract the CGS
so its 1,200,000-100,000-100,000= net sales revenue = 1,000,000
net sales revenue- CGS= gross margin

2/14/2006 12:12:59 AM

oh nevermind im an idiot

2/14/2006 12:14:08 AM

bttt for practice test #2

3/16/2006 11:18:20 PM

has anyone figured out the answers yet for TEST 2

3/18/2006 10:35:01 PM

here's what i got, but some of them are marked with a ? because i am not 100% sure on those so please correct me if i'm wrong on any of them

1a?
2c?
3b
4a
5a
6a?
7a
8c
9b
10a?
11b?
12b
13e
14d
15b
16b
17e
18d
19d
20a
21c
22d
23d or e?
24e
25b?
26b
27e
28b
29d?
30d
31a
32e
33b?
34a?
35e
36c
37d
38a
39c
40c

3/19/2006 3:26:30 AM

can anybody help me with the ones i'm not sure about? thanks in advance..

3/20/2006 12:51:53 AM

hey bunny...
not sure about 1
2)c
5)a or d...not sure
6)a
10)a
11)i think its d, but sounds like it could be b
16)c
23)not sure
25)c
28)could be a?
29)d
33)b
34)d

hope that helps, let me know if I'm wrong about any of them. Good luck.

3/20/2006 10:32:51 AM

5 is B.
11 is B.
28 is A.
[Edited on March 20, 2006 at 11:55 AM. Reason : .]

[Edited on March 20, 2006 at 11:57 AM. Reason : .]

3/20/2006 11:53:54 AM

thanks absolutswede and vir! i feel better if i know other people have the same answers

1 is A -- found it on ch 9 page 285

i thought 5 was A -- ch6 p183
What is the next step in the business buying decision process after writing the product specifications?
p183 under "identifying potential suppliers and obtaining proposals"
Once the product specifications are in hand, the next step may be to identify potential suppliers and obtain written or verbal proposals, or bids, from one or more of them.

i think 11 is B -- ch9 p272
because the definition of the introduction stage is the introduction of a new product in the marketplace and the question said that the kitchen cloths was a brand new product to the market.

i thought maybe 16 was B --brand you ch1 p3
"In TempWorld, you'll have to constantly re-earn your right to employment. You will need to prove and reprove continually that you have the right skills and know-how to be the "best person" for the job."

i thought 28 was A -- ch6 p186
in the 3rd paragraph, it says Prudential Health Care's extranet allows its corporate customers to enroll new employees and check eligibility and claim status themselves.

i think 33 is actually A now -- ch16 p498
One of the most important strategic decisions a retailer makes is what to seel - its merchandise mix. This choice is similar to settling on a market segment (as discussed in Chapter 7)... etc...

thanks for your help everyone.. good luck on the exam tomorrow


[Edited on March 20, 2006 at 1:09 PM. Reason : .]

3/20/2006 12:41:29 PM

Thanks for the update NCSUbunny.

I agree with you on 11,28 and 33.

However, for 5, i went with B simply because as per the text, obtaining bids comes under STEP 2 :Information search. therefore, using the logic that there are 4 steps in the buying process, i concluded it would be STEP 3 : evaluation of alternatives.

Someone let me know what the correct answer is please. I have also emailed Dr Gooner, hope he responds.

3/20/2006 2:24:10 PM

I'm so confused.. this test seems like it's gonna be harder than the first

3/20/2006 2:34:46 PM

cool..any word on 23...is it E?

3/20/2006 5:28:31 PM

I'm leaning towards E because in the consumer decision making process it says that the consumer gets information from friends and family, etc so i think it includes C

3/20/2006 6:41:33 PM

on #28 if your saying its extranet shouldn't the answer be B?

3/20/2006 6:51:17 PM

anybody feel like thier is waaaay to much shit to study for one test? i have no clue whats going to be on this test even if i do go over the review test. i feel like he could give us a little more guidance this time since we did have spring break in prior to this test.

3/20/2006 7:00:31 PM

^i feel the same way

3/20/2006 7:06:09 PM

^, ^^ i second that

Quote :

"on #28 if your saying its extranet shouldn't the answer be B?"

oops, sorry about that.. yeah 28 is B.. all the letters are getting blurry at this point

[Edited on March 20, 2006 at 7:26 PM. Reason : .]

3/20/2006 7:23:01 PM

hey guys - i think #16 should be C now
because in the ppt notes for Finding Your Career(s) i remember him saying the Temp World meant there was no guaranteed lifetime employment

and it says the concept is "employability" versus "employment"

anyone have any input on that? thanks

3/20/2006 7:55:05 PM

yea it should be C, i thought i put that on my answers but i guess not, sorry bout that

3/20/2006 7:57:22 PM

yea you did.. but i just looked up the answer incorrectly and just now read over the ppt slides for it and found that i was wrong

thanks so much!

3/20/2006 8:00:41 PM

what would be a store's positioning for the retail exerice worksheet?

3/20/2006 8:08:08 PM

Positioning - "developing a market strategy aimed at influencing how a particular market segment perceives a good in comparison to competition".

So basically, depending on the store, how well they line things up in the store, what segment of people they are trying to sell to, and if in fact they are doing a good job convincing them. For instance i went with Old Navy and said they cater to people that want a cheap yet somewhat trendy look, and they do a great job by having their on sale items lined up in the middle, so as you walk around you can also browse through the rest of the store. hope that helps.

BTW, just to confirm that #5 is A indeed. Dr Goooner just confirmed it.

3/20/2006 8:18:07 PM

vir - thanks for emailing dr gooner

good luck tomorrow everyone

3/20/2006 8:48:00 PM

for people that did well on the first test how did you study? cus i didnt do that well on the last one and i need to do well on this one.

3/20/2006 10:48:21 PM

there's a test tomorrow in his class??

3/20/2006 11:28:09 PM

I thought test 2 wasn't until Mar. 30??

3/20/2006 11:32:51 PM

uh yeah there's a test and its not a fun one either. what is it, 5, 6, 7, 8, 9, and 16, plus brand you? hope you have some strong coffee or aderol nearby

3/20/2006 11:50:18 PM

i just looked at the syllabus that he updated on the 15th, and it says that test 2 is march 30th????

3/20/2006 11:58:53 PM

the practice test is online, if that helps. the heading of the test looks like its from his UNC section seeing as to how we don't have a BUS 3832 class... unfortunately, their test is the 22nd so no hope in finding one of them. the "admin" slides from the last class and even a few classes back say that the test is tuesday 3/21. best of luck

3/21/2006 12:05:09 AM

where is the practice test? I looked at the class website, and theres jsut the practice test from test 1. He updated the website and downloadable syllabus and both say that our test is on Mar. 30??

3/21/2006 12:08:25 AM

You have the wrong website for sure.
http://courses.ncsu.edu/bus360/lec/001/index5.html
it clearly shows the test being tommorrow. you might as well start studying for it, because i dont think your gonna be able to get out of it. theres a crap load of stuff to study!! GOOD LUCK EVERYONE!!

3/21/2006 1:13:51 AM

this practice test makes me feel like a dumbass

3/21/2006 8:18:17 AM

so how does everybody think they did?

3/21/2006 9:34:57 AM

I think i did well. I had version 1 and i could have sworn that at least 10 questions were straight outta the practice test, or close to 10 for sure.

3/21/2006 9:37:13 AM

i also had version one. It wasnt to bad there were a few questions i had to look at twice

3/21/2006 11:29:48 AM

^,^^same

some came from the practice test and some i had never seen anything about.

its one of those im not sure how i did, will just have to wait for the grade.

3/21/2006 11:33:59 AM