Answer:
$2,264.04
Explanation:
To find future value we use the formula:
Future Value = Annual payment × Future value annuity factor
Therefore,
Where P = Principal amount = $180
r = rate = 5% == 0.05
n = 10 years
= $2,264.04
Therefore the Future Value is $2,264.04
Answer:
expected income 105,000
Explanation:
Our goal would be to multiply the average contribution margin of the company by the total units produced.
<em>Important:</em> <u>the given is the weighted average</u>, so the units mix (40% STD 60% SUPREME) is taken into consideration already, no need to additional calculation. If we were told the Contribution Margin per type of unit we will be needing to calculate the average CM.
<em>Now,</em> second step will be subtract the fixed cost from the contribution to get the pretax income
Answer:
b) 0.0751
c) We cannot afirm whether eating out or dinning in is cheaper
d) do not reject neither.
<u>Questions:</u>
(a). Develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home.
(b). Using the sample from the 100 restaurants, what is the p -value?
(c). At α = .05 ,what is your conclusion?
(d). Repeat the preceding hypothesis test using the critical value approach
Explanation:
(b)
We use excel function to get the Pz which is .0751
(c). 0.0751 > .05 , We cannot reject the hypotesis. Thus, we can neither say dinning in is more cheap nor eating out is cheaper.
(d). With = 99 , t .05 = −1.66 Reject H 0 if ? ≤ −1.66 −1.45 > −1.66 , do not reject
Degrees of freedom = n − 1 = 99 and Pz of 0.05 = -1.66
Reject when Pz < of -1.66
-1.45 > 1.66 threfore we cannot reject the hypotesis.