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nata0808 [166]
3 years ago
14

The time required for an automotive center to complete an oil change service on an automobile approximately follows a normal​ di

stribution, with a mean of 1717 minutes and a standard deviation of 2.52.5 minutes. ​(a) the automotive center guarantees customers that the service will take no longer than 2020 minutes. if it does take​ longer, the customer will receive the service for​ half-price. what percent of customers receive the service for​ half-price? ​(b) if the automotive center does not want to give the discount to more than 77​% of its​ customers, how long should it make the guaranteed time​ limit?
Business
1 answer:
sveticcg [70]3 years ago
3 0
Let X be the time or period needed for an automobile center to finish an oil change.

X ∼ N (17, 2.5) 

a) 

P(X ≥ 20) = P((X - 17)/5 ≥ (20- 17)/2.5) = P(Z ≥ 1.2) = .1151 *100 = 11.51% is the answer

b) 
P(X ≥ x) = 0.07 

P (X - 17)/2.5 ≥ (x - 17)/2.5) = 0.07

P (Z ≥ z) = 0.07
look at the z table, 0.07 lies between 1.47 and 1.48, add and then divide you'll get:z = 1.475

1.475 = (x - 17)/2.5 

x = 20.6875 ≈ 21 minutes
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Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
slavikrds [6]

Answer: a) Debit to Office Supplies for $81.

Explanation:

Office Supplies of $81 were used in the month of September. When replenishing the fund, this asset will be accounted for by being debited and cash will be credited to reflect the reason the cash account is being reduced.

The Journal entry for the replenishment will be;

DR Office supplies Account ......................................$81  

DR Merchandise inventory Account ........................$153  

DR Misc. expense Account........................................ $30  

CR Cash account ......................................................................$264

5 0
3 years ago
When a sales contract is missing terms on when a payment is due, and if the involved parties have not had an established course
Gemiola [76]

Answer:

False

Explanation:

The provision of the Uniform Commercial Code as amended is that any missing terms such as price, quantity,location and expected time of delivery as well as payment terms  can be added to the contract later on with consent of all parties involved or provided in compliance with other commercial codes.

In other words,the fact that payment should be made within seven working days when payment terms are missing is alien to Uniform Commercial Code.

The answer, therefore is false.

7 0
3 years ago
Suppose the U.S.​ dollar-euro exchange rate is 1.11.1 dollars per​ euro, and the U.S.​ dollar-Mexican peso rate is 0.10.1 dollar
d1i1m1o1n [39]

Answer:

Explanation:

According to the given data we have the following:

1 euro=1.11 dollars

1 peso=0.10 dollars

Hence, 11.10 peso=1.11 dollares

So, 1 euro=11.10 peso

Therefore, 1/11.10 euro=1 peso

0.09009 euro=1 peso

The​ euro-peso rate is 0.09009 euro=1 peso

3 0
3 years ago
The purpose of a flexible budget is to:
Ksenya-84 [330]

Answer:

c. update the static planning budget to reflect the actual level of activity for the period

Explanation:

A flexible budget is a  financial plan of expenses and revenues based on the actual level of output. A flexible budget adapts to changes in prices and company needs. Because the budget varies with the market condition, it is called a variable cost.

Due to their variable nature,  flexible budgets are used to update the static estimates at the end of a period. The company compares the actual result in the flexible budget with that of a static budget. The management uses a flexible budget to evaluate the business performance for the period. Specific areas of success and failures are highlighted. Decisions on areas that need improvement can then be made.

8 0
3 years ago
You just sold 700 shares of Alcove stock at a price of $34.08 a share. Last year you paid $39.20 a share to buy this stock. You
Nesterboy [21]

Answer:

The correct answer is 3584 (Loss).

Explanation:

According tot he scenario, the given data are as follows:

Purchase value = $39.20

Sale value = $34.08

Total share = 700 share

So, we can calculate the total gain by using following formula:

Total gain = (Sale value - Purchase value) × Total share

= ( $34.08 - $39.20) × 700

= -3584 ( Negative shows Loss)

3 0
3 years ago
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