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ratelena [41]
3 years ago
13

In a large sample of customer accounts, a utility company determined that the average number of days between when a bill was sen

t out and when the payment was made is 31 with a standard deviation of 3 days. Assume the data to be approximately bell-shaped. Approximately 37% of all customer accounts have the average number of days between two values A and B. What is the value of B?
Business
1 answer:
ExtremeBDS [4]3 years ago
5 0

Answer:

B = 32.44 = 32 days

Explanation:

Given the following :

Mean number of days between when Bill was sent out and when payment was made = 31

Standard deviation = 3 days

Approximately 37% of all customer accounts have the average number of days between two values A and B. What is the value of B?

Interval A and B contains 37% of all customer accounts have average number of days with values :

Zscore of the (100-37)% / 2 at the extremes ; = 63%/2 = 0.315 ; from z table 0.315 = -0.48

Interval:

(-0.48 * sd) + mean and (0.48 * sd) + mean

(-0.48 * 3) + 31 and (0.48 * 3) + 31

-1. 44 + 31 and 1.44 + 31

29.56 and 32.44

Value of A and B

A = 29.56 ; B = 32.44

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Melanie Gollick, nursing floor manager for Scripps Memorial Hospital La Jolla, says, "It’s the personality and being able to mes
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The correct answer is b) Be able to use his or her skills.

Explanation:

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3 years ago
Suppose that Dunkin Donuts reduces the price of its regular coffee from $2 to $1 per cup, and as a result, the quantity sold per
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Answer:price elasticity of demand for Dunkin Donuts’ regular coffee is 1.8

Explanation: Using the midpoint formnulae

Price elasticity of Demand =percentage change in quantity demanded/ Percentage change in price.

Percentage change in quantity = new quantity  - old quantity  / (new quantity + old quantity)/2  x 100

= 40-10/(40+10)/ 2 = 30 /25 = 1.2 x 100 =120%

Percentage change in price  = new price   - old price   / new price + old price)/2   x 100

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For Price elasticity of demand, the sign is not included and the basis for elasticity is on the value itself . here we can conclude that the Price elasticity of demand for Dunkin donut is 1.8 and elastic because a fall in price led to an increase in amount being sold.

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Answer:

4.33.

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