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One of the significant elements of credit management is the assessment of the credit risk of the customer. As assessing risk two kind of errors arise that are as follows.
Type 1 error: Good customers are misclassified as compare to poor credit risk
Type 2 errors: Bad customers are misclassified as compare to the good credit risk.
Both types of the errors are costly. Type 1 error causes loss of profit on sales and also loss of good customers. And type II errors cause bad debts and other costs related with the bad debts. These types of errors can't be entirely removed but an exact credit evaluation process can reduce these two kinds of errors. The credit evaluation process includes the subsequent steps.
1) Credit information
2) Credit investigation
3) Credit limits
4) Collection policy.
1) What is the difference between decreasing marginal returns and negative marginal returns? 2.) "A firm in monopolistic competition maximizes its profit by producing where it
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Std error of the slope (Sb) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. The standard error of ‘
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How costs behave as the level of activity/volume changes. Why an understanding of cost behaviour is important ? Types Variable e.g. petrol, direct materials Fixed e.g.
contribution margin
The Braggs & Struttin' Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of
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what is semi average trend analysis using regression analysis method?
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