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Advocard [28]
4 years ago
15

Suppose the manager agrees to pay each employee a​ $50 bonus if they meet a certain goal. on a typical​ saturday, the​ oil-chang

e facility will perform 45 oil changes between 10
a.m. and 12 p.m. treating this as a random​ sample, there would be a​ 10% chance of the mean​ oil-change time being at or below what​ value? this will be the goal established by the manager.
Business
1 answer:
djyliett [7]4 years ago
5 0

Answer:

There is a​ 10% chance of the mean​ oil-change time of 20.53 minutes

Explanation:

Given that:

There are 45 oil changes between 10 a.m. and 12 p.m. treating this as a random​ sample, n = 45 and  there would be a​ 10% chance of the mean​ oil-change time, therefore P = 10% = 0.1

A probability of 0.1 gives a corresponding z score of -1.28, this is gotten from the z table. z = -1.28

z score (z) = (x - mean) / (standard deviation / √n)

Let us assume mean = 21.2 minutes and standard deviation = 3.5 minutes. substituting values:

-1.28 = (x - 21.2)/(3.5 ÷ √45)

-1.28 = (x - 21.2) / 0.522

x - 21.2 = -0.6678

x = 21.2 - 0.6678 = 20.53

x = 20.53

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3 years ago
If Dominion Bank also pays 3.25% annual interest, compounded daily. If you had the following deposits and withdrawals, calculate
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and from March 28th to 31th we calcualte $5,700 + accrued interest

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5,008.69 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount

Amount: 5,013.60

Then we deposit 700 and calcualte the rest of the month:

5,713.60 (1 + \frac{0.0325}{365} )^{11/365 \times 365} = Amount

Amount: 5,715.64

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6,508.96 - 6,500     =  8.96

5,013.60 - 5,008.69 =   4.91

5,715.64 - 5,713.60  =    2.04

        total interest  =  15.91

5 0
3 years ago
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