$20,995
Cost of goods sold:
17,500 Beginning inventory
+19,252 Plus purchased inventory
- $15,757 Minus ending inventory
=20,995 Cost of Goods Sold
Answer:
Depends on what you define as small business, if you mean a mom and pop pharmaceutical store across the road that keeps the money within the family and has every member of the family working in the shop to create an infinite amount of revenue for themselves until they hit a profit, then sure. They contribute tax dollars to the community through supplying jobs and creating cheaper cost for locals, which gives incentive to buy more in bulk and thus creating more tax dollars. Unless you are talking about the man in the apartment building who makes home grade meals and sells them cheap to his community, then no. While he is contributing tax dollars all those dollars aren't going back into the community until he buys something with that money, and the people who spent that money just got a tax free meal that 't go into the community didn't.
Explanation:
One thing for sure is it’s going to slope down soon
Answer:
95% of 55 trucks will have weights between 5915.5 lbs and 6084.5 lbs
Explanation:
Complete question:
Crossett Trucking Company claims that the mean weight of its delivery trucks when they are fully loaded is 6,000 pounds and the standard deviation is 310 pounds. Assume that the population follows the normal distribution. Fifty-five trucks are randomly selected and weighed. Within what limits will 95% of the sample mean occur
- Subtract 1 from sample size to find degree of freedom(df). Here sample size is 55,so
df= 55-1= 54
- To determine α, subtract confidence interval from 1 and then divide by 2. Here confidence interval is 95% or 0.95, so
α= (1-0.95)/2= 0.025
- Use t-distribution table(see attachment) to find t-value for α=0.025 and df=54. So t=2.021(since df=54 is not listed in the table, I have used the table row corresponding to the next lowest value of df that is 40)
- divide sample deviation, 310, by root of sample size that is 55. So,
= 41.8
- Now multiply the answers from last two steps 41.8 × 2.021= 84.5
- lower limit= 6000-84.5=5915.5
- upper limit= 6000+84.5=6084.5
95% of 55 trucks have weights between 5915.5 lbs and 6084.5 lbs