A warehouse charges its customers $4 per day for every 10 cubic feet of space used for storage. The figure records the storage u
sed by one company over a month. How much will the company have to pay?
1 answer:
Figure 1 is the original figure, while figure 2 is modified, so that a triangle and a rectangle can be easily observed.
The area of triangle and rectangle represents the total number of cubic feet of storage multiply by the number of days of storage usage.
Hence
Total Area = Area of triangle + Area of rectangle
= 30 x 10,000 + ½ 30 x (30,000 – 10,000)
= 300,000 + 300,000
= 600,000
As 10 cubic feet of storage cost $5 for a day, so total amount company have to pay
<span>= (5 x 600,000) / 10 = $300,000</span>
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Answer:
a) 0.71
b) 0.9863
Step-by-step explanation:
a. Given the mean prices of a house is $403,000 and the standard deviation is $278,000
-The probability the probability that the selected house is valued at less than $500,000 is obtained by summing the frequencies of prices below $500,000:
Hence, the probability of a house price below $500,000 is 0.71
b. -Let X be the mean price of a randomly selected house.
-Since the sample size 40 is greater than 30, we assume normal distribution.
-The probability can therefore be calculated as follows:
Thus, the probability that the mean value of the 40 houses is less than $500,000 is 0.9863