Answer:
There is a 10% chance of the mean oil-change time of 20.53 minutes
Explanation:
Given that:
There are 45 oil changes between 10
a.m. and 12 p.m. treating this as a random sample, n = 45 and there would be a 10% chance of the mean oil-change time, therefore P = 10% = 0.1
A probability of 0.1 gives a corresponding z score of -1.28, this is gotten from the z table. z = -1.28
z score (z) = (x - mean) / (standard deviation / √n)
Let us assume mean = 21.2 minutes and standard deviation = 3.5 minutes. substituting values:
-1.28 = (x - 21.2)/(3.5 ÷ √45)
-1.28 = (x - 21.2) / 0.522
x - 21.2 = -0.6678
x = 21.2 - 0.6678 = 20.53
x = 20.53
Answer:
COGS= $854,000
Explanation:
Giving the following information:
the cost of goods manufactured, $866,000
beginning finished goods inventory, $252,000
and ending finished goods inventory, $264,000
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 252,000 + 866,000 - 264,000= $854,000
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Answer:
The 1-day rate of return on the index = 5.36%
Explanation:
Index Value = Sum of (Outstanding Shares*Share Price)
q p mv q1 p1 mv1
640,000 16 10240000 640000 20 12800000
540,000 24 12960000 540000 22 11880000
240,000 55 <u>13200000</u> 240000 57 <u>13680000</u>
<u>36400000 </u> <u>38360000</u>
Note: q/q1 = no of shares, p = price per share, mv/mv1 = market value, p1 = changed price per share
Return = (Index Value Today - Index Value Yesterday)/Index Value Yesterday
Return = (38360000 - 36400000) / 36400000
Return = 0.05385
Return = 5.36%
