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stealth61 [152]
3 years ago
10

Historically, 74% of credit card users carry a balance from month-to-month. A certain credit card company would like to study th

e spending patterns of its cardholders in more detail and to start the analysis, takes a random sample of 140 cardholders. What is the probability more than 72% of these cardholders are carrying a balance
Business
1 answer:
Hoochie [10]3 years ago
3 0

Answer:

The probability more than 72% of the cardholders are carrying a balance is 0.2946

Explanation:

Test statistic (z) = (p' - p) ÷ sqrt[p(1-p) ÷ n]

p' is the sample proportion = 0.72

p is the population proportion = 0.74

n is the number of cardholders sampled = 140

z = (0.72 - 0.74) ÷ sqrt[0.74(1-0.74) ÷ 140] = -0.02 ÷ 0.037 = -0.54

The cumulative area of the test statistic is the probability that less than 72% of the cardholders are carrying a balance. The probability is 0.7054.

Probability (more than 72% of the cardholders are carrying a balance) = 1 - 0.7054 = 0.2946

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Who among the following is a manager with good time-management skills?
ioda

Answer:

c. Jonathan, who segregates tasks and classifies them based on priority needs

Explanation:

Time management entails planning and controlling how much time one spends to undertake assigned tasks. Good time management skills increase one's efficiency and productivity.

Phone calls should be scheduled during less productive hours. One should delegate tasks where possible to enable timely completion. It is important to undertake one task at a time in order to be efficient. Tasks should be undertaken based on priority.

Therefore, options a,b and d are incorrect and option c is correct.

7 0
3 years ago
Your landscaping company can lease a truck for $7,800 a year (paid at year-end) for 6 years. It can instead buy the truck for $3
Alexandra [31]

Question:

Graded assignment(towards 15% Hw grade) Saved Help Save& Exit Submit Check my work Your landscaping company can lease a truck for $7,800 a year (paid at year-end) for 6 years. It can instead buy the truck for $38,000. The truck will be valueless after 6 years. The interest rate your company can earn on its funds is 7%. 10 points

What is the present value of the cost of leasing?

Answer:

Cost of lease = $37,179.01

Explanation:

Leasing is a finance arrangement where one party (the lessor) transfers the right to use an asset to another party (the leasse) in exchange for a rent.

The cost of a lease to the leasee is the present value of the future lease payment  discounted at the cost of capital.

So using the present value of annuity formula, we can work out the cost of the lease arrangement as follow:

PV =A×  (1- 1+r)^(-n)/r

PV- Present Value

r- interest rate

n- number of years

A- annual lease payment

PV -

A-7,800

r-7%

n-6

PV = 7,800× (1- (1.07)^(-6)/0.07 =  37,179.01  

Present Value = $37,179.01

Cost of lease = $37,179.01

5 0
3 years ago
5. Max prepares a tax return for Ali at a VITA/TCE site. He finds out during the interview that Ali has no health insurance. Aft
solmaris [256]
Ion know and I wish I did good luck lol
3 0
3 years ago
Katie Homes and Garden Co. has 14,000,000 shares outstanding. The stock is currently selling at $66 per share. If an unfriendly
Nesterboy [21]

Answer:

a. 2,800,000 shares

b. $49.50

Explanation:

a. Poison is a tactic used by a company threatened with an unwelcome takeover bid to make itself unattractive to the bidder

Shares that the unfriendly outside group must acquire for the poison pill to go into effect is

= 20% of 14,000,000 shares.

= 14,000,000 × 20%

= 2,800,000 shares

b. The new purchase price for the existing stockholders will be

=$66 × (1 - 0.25)

= $49.50

7 0
3 years ago
Why would a monopolistically competitive firm​ advertise? A monopolistically competitive firm would advertise to A. shift its de
kompoz [17]

Answer:

C) Make its demand curve more inelastic

Explanation:

A product is inelastic if the demand for it does not change a lot when price changes. For example, gasoline is a perfect example of a good with inelastic demand because customers buy gasoline even if the price rises.

A firm will always want to have inelastic products because this will assure revenue even if production costs have to be raised, and the sales price therefore increases.

Advertising can achieve that by increasing brand loyalty, product differentiation, or good perception about the product. Customers may feel that no matter how high the price is, the product is worth it.

5 0
3 years ago
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