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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:

$13,290

Explanation:

Straight line depreciation expense = (book value of asset - salvage value ) / useful  life

Book value of the asset = $48,300 - $17,720 = $30,580

($30,580  - $4,000) / 2 = $13,290

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2 years ago
Four hundred and eighty minutes of production time are available per day. The schedule calls for the production of 80 units per
BabaBlast [244]

Answer:

<em>The theoretical minimum number of workstations are five workstations</em>

Explanation:

Given the total time available per day = 480 minutes

the cycle time which is the time required or spent to produce a unit can be obtained as;

Cycle time = Total time / Demand per day

Cycle time = 480 / 80 = 6 minutes

hence 6 minutes is the cycle time  for one unit.

The theoretical number of stations can be calculated thus;

Theoretical number of stations = Time for one unit / Cycle time

= 30/6 = 5 workstations

<em>Therefore the theoretical minimum number of workstations are five workstations</em>

4 0
3 years ago
Karl opens a savings account with $2500. He deposits $1500 every year into the account that has a 0.75% interest rate, compounde
zhuklara [117]

Answer:

Total FV= $29,335.25

Explanation:

<u>First, we need to calculate the future value of the initial investment ($2,500) using the following formula:</u>

FV= PV*(1 + i)^n

PV= $2,500

i= 0.0075

n=10*12= 120 months

FV= 2,500*(1.0075^120)

FV= $6,128.39

<u>Now, the future value of the $1,500 annual deposit:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

We need to determine the effective annual rate:

Effective annual rate= (1.0075^12) - 1= 0.0938

FV= {1,500*[(1.0938^10) - 1]} / 0.0938

FV= $23,206.86

Total FV= $29,335.25

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3 years ago
Labor costs are 30% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are
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$14,000 rupees will be disbursed totally in march.            

<u>Explanation</u>:

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  • At the end of March month, the cash balance of $6000 is required. So a total of $14,000 is required at the end of the month. Including the labor costs, he wants to pay $14,000.
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Company openness depends on the strength of the company’s grapevine.<br> a. True<br> b. False
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Answer:

The correct answer is: False

Explanation:

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