1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Reil [10]
3 years ago
6

The fares received by taxi drivers working for the City Taxi line are normally distributed with a mean of $12.50 and a standard

deviation of $3.25. Based on this information, what is the probability that a specific fare will exceed $15.00?
Business
1 answer:
Lyrx [107]3 years ago
3 0

Answer:

0.2308 or 23.08%

Explanation:

Mean (μ) = $12.50

Standard deviation (σ) = $3.25

Assuming a normal distribution, for any given fare X, the z-score is calculated as:

z = \frac{X-\mu }{\sigma}

For X = $15.00, the z-score is:

z = \frac{15.00-12.50 }{3.25}\\ z=0.7692

A z-score of 0.7692 corresponds to the 77.91-th percentile of a normal distribution. Therefore, the probability that a fare exceeds $15.00 is:

P(X>\$15.00) = 1-0.7692 = 0.2308

The probability that a specific fare will exceed $15.00 is 0.2308.

You might be interested in
What is the opportunity cost of producing more shoes?
jeka94
Produce less watermelon
6 0
2 years ago
When one group controls an industry or market by being the only provider, this is called _____.
e-lub [12.9K]
When one group controls an industry or market by being the only provider, this is called MONOPOLY.

Mono - Greek monos means one or single
Poly - Greek polein means to sell.

Monopoly is a market where only one sells a certain good or service. In this type of market there is no competition thus the monopolist is not driven to improve his commodity because consumers have no other choice but to buy his product.
6 0
3 years ago
A check list should be based on past____?
Jet001 [13]
Is there any choices?
6 0
3 years ago
Read 2 more answers
When the auditors express an opinion on financial statements their responsibilities extend to:
Westkost [7]

When the auditors express an opinion on financial statements their responsibilities extend to : Whether the results of their client's operating decisions are fairly presented in the financial statements.

Explanation:

An auditor is a person or corporation assigned to conduct an audit by a client. To order to be an auditor, a person should have a credential or relevant credentials of the regulatory authority for accounting and auditing.

The auditor is someone who reviews financial records and checks them. They ensure consistency of financial records and correct payment of taxes. We monitor financial activities to ensure that companies operate efficiently.

A statement that somehow the auditor is liable for expressing an opinion on the audit's financial statements. Examining details of the sums and reports in the financial statements on a test basis; evaluating the accounting standards used and relevant management estimates;

4 0
3 years ago
A company forecasts growth of 6 percent for the next five years and 3 percent thereafter. Given last year's free cash flow was $
Ilya [14]

Answer:

d. $2,676

Explanation:

The computation of the horizontal value is shown below:

FCF1 = (100 × 1.06) = 106

FCF2  = (106 × 1.06) = 112.36

FCF3 = (112.36 × 1.06) = 119.1016

FCF4  = (119.1016 × 1.06) = 126.247696

FCF5  = (126.247696 × 1.06) = 133.8225578

Now

Horizon value is

= FCF5 ÷ (Cost of capital  - Growth rate)

= 133.8225578 ÷ (0.08  - 0.03)

= $2,676

Hence, the correct option is d.

4 0
3 years ago
Other questions:
  • Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him
    5·1 answer
  • Summarize the effect of credit card interest on thermal cost of items
    6·1 answer
  • What action can a supervisor take to reinforce the desired change and create a work environment that nourishes successful people
    5·1 answer
  • All of the following are benefits of following the ________ approach to target market selection: a strong knowledge of the segme
    10·1 answer
  • The best strategic alliances are those which help a company move quickly from one strategic group to another. aim at raising an
    11·1 answer
  • For example, administrative expenses should be $3,700 per month plus $41 per course plus $7 per student. The company’s sales sho
    15·1 answer
  • Which mode of transportation typically has the highest value-to-weight ratio? (Food for thought as you answer this question: Thi
    6·1 answer
  • Risser Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in which its predetermined ov
    14·1 answer
  • Guay Corp., a start-up company, provided services that were acceptable to its customers and billed those customers for $400,000
    15·1 answer
  • How long does it take for your tax return to be processed?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!