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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
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.
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