Answer: a) 0.04667544
b) 0.01129221
c) 0.98870779
Explanation:
Binomial probability formula :-
, where P(x) is the probability of getting success in x trials, n is the total number of trials and p is the probability of getting success in each trial.
Given : The probability of households say they would feel secure if they had $50,000 in savings = 0.30
Total number of households selected = 8
a) The probability that the number that say they would feel secure is exactly five will be :-
![P(5)=^8C_{5}(0.30)^5(0.70)^3\\\\=56(0.3)^5(0.7)^3=0.04667544](https://tex.z-dn.net/?f=P%285%29%3D%5E8C_%7B5%7D%280.30%29%5E5%280.70%29%5E3%5C%5C%5C%5C%3D56%280.3%29%5E5%280.7%29%5E3%3D0.04667544)
b) The probability that the number that say they would feel secure is more than five :-
![P(x>5)=P(6)+P(7)+P(8)\\\\=^8C_{6}(0.30)^6(0.70)^2+^8C_{7}(0.30)^7(0.70)^1+^8C_{0}(0.30)^8(0.70)^0\\\\=28(0.30)^6(0.70)^2+8(0.30)^7(0.70)^1+(0.30)^8\\\\=0.01129221](https://tex.z-dn.net/?f=P%28x%3E5%29%3DP%286%29%2BP%287%29%2BP%288%29%5C%5C%5C%5C%3D%5E8C_%7B6%7D%280.30%29%5E6%280.70%29%5E2%2B%5E8C_%7B7%7D%280.30%29%5E7%280.70%29%5E1%2B%5E8C_%7B0%7D%280.30%29%5E8%280.70%29%5E0%5C%5C%5C%5C%3D28%280.30%29%5E6%280.70%29%5E2%2B8%280.30%29%5E7%280.70%29%5E1%2B%280.30%29%5E8%5C%5C%5C%5C%3D0.01129221)
c) The probability that the number that say they would feel secure is at most five :-
![P(x\leq5)=1-P(x>5)\\\\=1-0.01129221=0.98870779](https://tex.z-dn.net/?f=P%28x%5Cleq5%29%3D1-P%28x%3E5%29%5C%5C%5C%5C%3D1-0.01129221%3D0.98870779)
The correct answer is any amount higher than $5,400.
First, you need to solve the break even point of sales when Chris will earn the exact same amount by plan a or plan b. The following equation will solve this problem, with x being the amount of sales.
$360 + .09x = $630 + .04x
First, subtract .04x from both sides:
$360 +.05x = $630
Next, subtract $360 from both sides:
.05x = $270
Finally, divide both sides by .05:
X = $5,400
At $5,400 Chris will earn the same about of pay, regardless of which plan they are on. Since the commission percentage is higher on plan a, Chris is better off having plan a when sales are higher than $5,400. At this point Chris is earning 9% commission, rather than 4% in plan b.
D. all of the above are good questions.
Answer: Fee simple defeasible.
Explanation:
The estate sales is an example of fee simple defeasible contract, where a property is sold with a conditionality. A fee simple defeasible contract is a kind of property sales contract, where a property is sold on conditionality that if violated, the property would be returned back to the seller.
Answer:
True.
Explanation:
Purchasing is an important part of a company and it's operating efficiency determines whether a company would be profitable for not. Let's assume, A company sells their goods (250 Pencils) for $500 but to make those $250 they have procured raw materials worth of $5 dollar for each pencil, now due to various other factors their prices were low or anything else we are not going into that, however, the point to understand is the importance of procurement and it's process.
- Procurement with analysis and strategies can help you save money which you wouldn't have because you never though about it. Why? Because procuring process keeps all seasonal factors, all elements included in purchasing,all costs in mind and than let's you know what quantity from which supplier, for how much should be purchased?