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Dafna11 [192]
3 years ago
14

A recent survey was conducted to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey r

evealed that the distribution of the amount of the monthly utility bill of a 3-bedroom house using gas or electric energy had a mean of $92 and a standard deviation of $13. If the distribution can be considered mound-shaped and symmetric, what percentage of homes will have a monthly utility bill of more than $79? a. approximately 34%b. approximately 16%c. approximately 95%d. approximately 84%
Business
1 answer:
RoseWind [281]3 years ago
7 0

Answer:

option d) approximately 84%

Explanation:

Data provided in the question:

Mean, m = $92

Standard deviation, s = $13

Now,

we have to calculate percentage of homes will have a monthly utility bill of more than $79 i.e P(X > 79)

also,

P( X > 79) = 1 - P( X < 79)

Z-score for (X = 79 ) = \frac{X-m}{s}

Z = \frac{79-92}{13}

or

Z = -1

From the standard Z value vs P table, we have

P( Z < -1 ) = 0.1587

Thus,

P( X < 79) = P( Z < -1 ) = 0.1587

therefore,

P(X > 79) = 1 - 0.1587

or

P(X > 79) = 0.8413

or

= 0.8413 × 100%

= 84.13%

Hence,

option d) approximately 84%

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In addition to the positive welfare effects that free trade has on an economy, there are a variety of other benefits of internat
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3 years ago
what situation is occurring if a 1 percent decrease in price results in more than a 1 percent increase in quantity demand?
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3 0
1 year ago
Lin Corporation has a single product whose selling price is $134 per unit and whose variable expense is $67 per unit. The compan
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Answer:

1. 600 units

2. $81,800

Explanation:

In this question we use the formula of break-even point in unit sales which is shown below:

= (Fixed expenses + target profit) ÷ (Contribution margin per unit)

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $134 - $67

= $67

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Now put these values to the above formula  

So, the value would equal to

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= ($402,00) ÷ ($67)

= 600 units  

2. Break even point = (Fixed expenses + desired profit) ÷ (Profit volume Ratio)  

And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100

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The other values would remain same

Now put these values to the above formula  

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= $81,800

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2 years ago
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