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blagie [28]
2 years ago
12

A catalog company that receives the majority of its orders by telephone conducted a study to determine how long customers were w

illing to wait on hold before ordering a product. the length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes. find the waiting time at which only 10% of the customers will continue to hold.
Business
1 answer:
Oksi-84 [34.3K]2 years ago
5 0

The waiting time at which 10 percent of the people would continue to hold is given as 2.3

<h3>How to solve for the waiting time</h3>

We have to solve for X ~ Exponential(λ).

then E(X) = 1/λ = 3,

= 0.3333

Remember that the cumulative distribution function of X is F(x) = 1 - e^(-λx). ;  x is equal to the  time in over case

For 10 percent of the people we would have a probability of

10/100 = 0.1

we are to find

P(X ≤ t)

= 1 - e^(0.3333)(t) = 0.1

Our concern is the value of t

Then we take the like terms

1-0.1 = e^(0.3333)(t)

1/0.9 = e^(0.3333)(t)

t = 3 * ln(1/0.9)

= 0.3157

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Answer: continuance commitment

Explanation:

The above scenario explains a continuance commitment. This occurs when a worker remains with a particular organization after he or she looks at both the benefits and costs of leaving and sees that the cost of leaving the organization outweighs the benefits.

In this case, even though Matrice has had several recruiters offering interviews for possible positions at different companies, he believes that he should stay as a result of the medical insurance benefits that he gets. This is thus referred to as continuance commitment.

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3 years ago
When housing prices ________ as they did beginning in 2006 following the housing market bubble, most banks and other lenders tig
-Dominant- [34]

Answer:

"Fell" "Harder"

Explanation:

When housing prices fell as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it harder for potential home buyers to obtain mortgages.

6 0
2 years ago
Gardening supplies are hot now but they haven’t always been why is this true of other businesses too
marusya05 [52]

Answer:

look i don't care...

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3 0
2 years ago
Holliday Company's inventory records show the following data:
Cerrena [4.2K]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Inventory:

January 1: 5,000 units $9.00

Purchases:

June 18: 4,500 units $8.00

November 8: 3,000 units $7.00

A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method.

Units sold= 10,500

FIFO:

COGS= 5,000*9 + 4,500*8 + 1,000*7= 88,000

Sales= 12*10,500= 126,000

COGS= (88,000)

Gross profit= 38,000

Tax= 38,000*0.2= (7,600)

Net operating income= 30,400

LIFO:

COGS= 3,000*7 + 4,500*8 + 3,000*9= 84,000

Sales= 12*10,500= 126,000

COGS= (84,000)

Gross profit= 42,000

Tax= 42,000*0.2= (8,400)

Net operating income= 33,600

Tax difference= LIFO - FIFO= 8400 - 7600= $800

6 0
3 years ago
A company wishes to raise $170 million by issuing 20-year annual coupon bonds. Each bond will have a face value of $1,000; coupo
Margarita [4]

Answer:

The answer to the question is B I51,753 bonds

Explanation:

The present price of the bond and the total amount to be raised of $170m were used in arriving at the number of bonds to be issued.

n 20  

Coupon 6.60%  

YTM 7.7%*1000=77  

FV 1000  

PV ($1,120.25)  

The current price of the bond   $1,120.25  

Total amount to be raised   $170,000,000  

Number of bonds to be issued=total amount /bond price    151,752 approx...151753

Find attached spreadsheet with formulas so as to be able to follow through.

Download xlsx
6 0
3 years ago
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