The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5
<u>Given data :</u>
Mean value of gasoline per hour = 875 gallons
Standard deviation = 55 gallons
<h3>Determine the probability of demand being greater than 1800 gallons over 2 hours </h3>
Demand for gas in 1 hour = X₁
Demand for gas in 2 hours = X₁ + X₂
Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )
In order to calculate probabilities for normals apply the equation below
Z = ( X- u ) / sd
where : u = 1800, sd = √ ( 55² + 55² ) = 77.78
using the z-table
P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)
= P( Z>0 ) = 0.5
Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.
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Answer:
D) downsloping because successive units of a specific product yield less and less extra utility.
Explanation:
The marginal utility curve is downsloping because successive units of a specific product yield less and less extra utility or benefits.
It gives the relationship between the utility derived from the consumption of an additional unit of a good and the quantity of the good consumed.
Answer: aggregate demand; left; lower; lower; higher
Explanation:
If the economy is initially in equilibrium at full employment real GDP (QN), and a stock market crash reduces household wealth and lowers investor confidence, ceteris paribus, the (aggregate demand) curve will shift to the (left) resulting in a (lower) price level (P), (lower) output/real GDP level (Q), and (higher) unemployment level (U).
It should be noted that the crash in the stock market will lead to lesser funds in the economy and lessee funds with households and this will lead to reduction in the demand for goods which will shift the demand curve to the left.
aggregate demand; left; lower; lower; higher
Answer:
warranties liabilities 12.300.000,00
Explanation:
Warranty cost 225
Company sold 60000
estimate warranties 7.800.000,00
Warranties FY 13.500.000,00
Warranty claims -9.000.000,00
warranties liabilities 12.300.000,00
Answer: rivals announce their monthly profit margins in public.
Explanation:
Strategies are the actions or plans which are put in place by a company in order to have competitive edge over its rivals and also achieve the organization objectives.
Managers must modify their strategies when:
• changing circumstances affect performance and the desire to improve the current strategy.
• rivals make or adjust moves in the market due to the shifting needs of buyers.
• encountering stagnating market conditions and increasingly restrictive new customer acquisition opportunities.
• evidence is mounting that the current strategy is becoming less effective.
The last option isn't necessary in order to modify their strategies. Rivals announcing their monthly profit margins in public isn't enough reason for a company to alter its strategies.