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blondinia [14]
3 years ago
6

We collected a sample of the prices of new homes. The mean of our sample is $155,000, with a standard deviation of $15,000. Calc

ulate the z-scores of each of the given prices. Determine if the they are usual or unusual. Round up each z-score to two decimals. (a) $200, 000 (b) $55,000 (c) $175,000 (d) $122,000
Business
1 answer:
Degger [83]3 years ago
6 0

Answer:

(a) $200, 000, z-score= 3 and it is unusual.

(b) $55,000, z-score= -6.67 and it is unusual.

(c) $175,000, z-score= 1.33 and it is usual.

(d) $122,000, z-score= -2.2 and it is unusual

Explanation:

Given: Mean of sample= $155000

           Standard deviation= $15000.

Now, calculating z-score of each given prices.

z-score= \frac{x-mean}{standard\ deviation}

(a) Price= $200000

z-score = \frac{200000-155000}{15000}

⇒z-score= \frac{\$45000}{\$ 15000} = 3

It is unusual as score is very high.

b) $ 55000

z-score = \frac{55000-155000}{15000}

⇒z-score = \frac{-100000}{15000}

∴ z-score= -6.67

It is unusual again as score it very low.

c) $ 175000

z-score = \frac{175000-155000}{15000}

⇒ z-score = \frac{20000}{15000}= 1.33

It is usual as score is in the top 0.30

d) $122000

z-score = \frac{122000-155000}{15000}

⇒ z-score = \frac{33000}{15000}

∴z-score= -2.2

It is unusual as score is too low

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ozzi

Answer:

True

Explanation:

In simple words, the hospitality and tourism industry refers to the activities related to accommodation, restaurant and tourism etc. In such industries the main focus of the companies is the comfort and joy of their clients. This becomes difficult to implement as every individual have different needs and circumstances. Thus, the planning of activities should be made in such a way that it suited the global audience.

8 0
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Which of the following is NOT one of the main motivations and characteristics of an entrepreneur?
mojhsa [17]

Process of elimination:

Flexibility is a characteristic because entrepreneurs are designing their own path (path being vague for whatever their entrepreneurship is focused on), allowing for flexibility

Risk is a characteristic because being on your own and doing your own thing is much more unstable than simply working for a well-founded company

Innovation is a characteristic, because the flexibility that comes from being an entrepreneur allows for freedom of ones own ideas, making innovation more likely.

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Profit is the right answer :D

6 0
3 years ago
Which of the following may occur as a result of a increase in the price of cell phones?
MatroZZZ [7]
I would say a
<span>.increase in supply</span>

7 0
3 years ago
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What are the primary assets of credit unions​?
Feliz [49]

Answer:

The correct answer is B.

Explanation:

Savings and credit cooperatives or, simply, credit cooperatives are cooperative societies whose corporate purpose is to serve the financial needs of their members and third parties through the exercise of the activities of credit institutions.

Savings and credit cooperatives are also known for their acronym in English, SACCO: Savings and Credit Cooperative.

These cooperatives are usually local and seem to be more suited to rural areas. Above all they have access to external funds and they are properly managed. And although there is a World Council of Credit Unions (WOCCU) there are few local or rural cooperatives associated with it.

5 0
3 years ago
During its most recent fiscal year, Raphael Enterprises sold 340,000 electric screwdrivers at a price of $19.20 each. Fixed cost
Novay_Z [31]

Answer:

Variable costs=$3,876,000

Explanation:

Given Data:

Fixed costs amounted=$1,156,000

pretax income=$1,496,000.

Units Sold=340,000

Price of each unit sold=$19.20

Required::

Variable costs in the company's contribution margin income statement for the year =?

Solution:

Pretax Income=Revenue-Fixed costs-Variable costs

Revenue=Units Sold*Price of each unit sold

Revenue=340,000*$19.20

Revenue=$6,528,000

Pretax Income=Revenue-Fixed costs-Variable costs

$1,496,000=$6,528,000-$1,156,000-Variable costs

Variable costs=$6,528,000-$1,156,000-$1,496,000

Variable costs=$3,876,000

8 0
3 years ago
Read 2 more answers
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