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Tomtit [17]
3 years ago
8

A hot dog vendor sells an average of 50 hot dogs during a Little League baseball game. If the sales are Normally distributed wit

h a standard deviation of 7 hot dogs, what is the probability the vendor will sell between 45 and 65 hot dogs? Show your work.
Business
1 answer:
Kobotan [32]3 years ago
5 0

Answer:

74.64%

Explanation:

Average sales (μ) = 50 hot dogs

Standard deviation (σ) = 7 hot dogs

In a normal distribution, the z-score for any given number of hot dogs sold, X, is determined by:

z=\frac{X-\mu}{\sigma}

For X = 45 hot dogs:

z=\frac{45-50}{7}\\ z= -0.7143

For X = 65 hot dogs:

z=\frac{65-50}{7}\\ z= 2.1429

A z-score of -0.7143 falls in the 23.75th percentile of a normal distribution while a z-score of 2.1429 falls in the 98.39th percentile.

Therefore, the probability that he vendor will sell between 45 and 65 hot dogs is:

P(45 \leq X \leq 65) = 98.39-23.75\\P(45 \leq X \leq 65) = 74.64\%

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What is the difference between family income, household income and personal income?
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elected data of Islander Company follow: As of December 31, Balance Sheet Data 2017 2016 Accounts receivable $ 500,000 $ 470,000
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Answer:

(a) 5.41 times

(b) 3.48 times

Explanation:

(a) Accounts receivable turnover for 2017:

=\frac{Net\ Credit\ Sales}{Average\ Accounts\ Receivables}

=\frac{2,500,000}{462,500}

      = 5.41 times

Working:

Average\ Accounts\ Receivables=\frac{Sum\ of\ net\ accounts\ receivable\ in\ 2017\ and\ 2016}{2}

Average\ Accounts\ Receivables=\frac{475,000+450,000}{2}

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(b) Inventory turnover for 2017:

=\frac{cost\ of\ goods\ sold}{Average\ Inventory}

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Working:

Average\ Inventory=\frac{Sum\ of\ inventories\ in\ 2017\ and\ 2016}{2}

Average\ Accounts\ Receivables=\frac{600,000+550,000}{2}

                                                             = 575,000

8 0
3 years ago
Bryson Services, Inc. performed accounting services for a client in December. A bill was mailed to the client on December 30. Th
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Answer:

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