The following table shows the revenue and expenses of DYI Stores Ltd, a high street chain selling DYI goods. Revenue Exp
Posted: Wed Mar 09, 2022 8:15 am
The following table shows the revenue and expenses of DYI Stores
Ltd, a high street chain selling DYI goods.
Revenue
Expenses
Actual profits
Budgeted profits
2013
£ 316,449,668.60
£ 313,395,191.59
£3,054,477.01
£ 3,046,000.00
2014
£ 354,423,628.83
£ 344,734,710.74
£ 9,688,918.09
£ 9561,000.00
2015
£ 396,954,464.29
£ 379,208,181.82
£ 17.746,282.47
£18,115,000.00
c. Based on the above table, explain the law of probability and
calculate is the likelihood of your actual profits being higher
than the budgeted profits.
Ltd, a high street chain selling DYI goods.
Revenue
Expenses
Actual profits
Budgeted profits
2013
£ 316,449,668.60
£ 313,395,191.59
£3,054,477.01
£ 3,046,000.00
2014
£ 354,423,628.83
£ 344,734,710.74
£ 9,688,918.09
£ 9561,000.00
2015
£ 396,954,464.29
£ 379,208,181.82
£ 17.746,282.47
£18,115,000.00
c. Based on the above table, explain the law of probability and
calculate is the likelihood of your actual profits being higher
than the budgeted profits.