Answer:
price below 25: 25.2493%
price above 28: 36.9441%
Explanation:
median = (min + max) / 2 = (18 + 36) / 2 = 27
standard deviation: in a normal distribution all values are among 6 standard deviaiton: (36 - 18) / 6 = 3
We need to convert the values into a normal distribution of (0;1)
<u>Probability of less than 25:</u>
(X - median) / standard deviation = (25 - 27) / 3 = -0.66667
Now, we look into the normal distribution for this value
P(z< -0.6667) = 0.252492538
<u>Probability of more than 28</u>
1 - probability of less than 28
normalization:
(X - median) / standard deviation = (28 - 27) / 3 = 0.33333
1 - P(z<0.33333)
1 - 0.63055866 = 0.36944134
<span> They control a country's </span>foreign exchange reserves and set its monetary policies. <span>Bank for International Settlements </span>promotes monetary stability and bank uniformity. The impact to it is that it causes disorganization between all banks around the world.
Answer:
a. In a situation where prices are declining, companies using LIFO will report the smallest cost of goods sold.
Explanation:
The last in first out method (LIFO) generally results in less net income because Cost of Goods Sold is greater. The reason is that normally prices increase with time due to inflation.
However, the opposite is true when prices are falling, LIFO will report the smallest cost of goods sold.
<u>The reason is the last items are assumed to be sold first, hence the figure of cost of goods sold will be smaller since the costs are smaller compared to the stock bought previously which are more expensive. </u>
Answer: C. $200
Explanation:
Total revenue = price × quantity
= $20 × 10 = $200
A perfectly competitive firm is a firm that is a price taker; it doesn't set the price for its goods.
If the firm reduces the quantity produced, total revenue falls too.