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Anuta_ua [19.1K]
2 years ago
8

According to a survey of American households: The probability that a household owns 2 cars, if annual income is over $25,000, is

0.80. Of the households surveyed, 60% had an income over $25,000. Of the households surveyed, 70% had 2 cars. Given your answers to #6 and #7, what is the probability that a household owns 2 cars AND has an income of greater than $25,000 a year
Business
1 answer:
vladimir1956 [14]2 years ago
8 0

Answer: 0.48

Explanation:

P(A/B) = P(AnB)/P(B) where:

P(A/B) = The probability of event A occurring given that B has occurred.

P(AnB) = The probability of both events A and B occurring.

P(B) = the probability that event B occurs.

So let

P(A) = Probability that the residents of a household own 2 cars.

P(B) = Probability that the annual household income is greater than $25,000.

The question tells us that

P(A/B) = 0.8

Note that: P(A) = 0.7, P(B) = 0.6.

Since we want to work out P(AnB), because it gives the probability that residents have an annual household income over $25,000 and own 2 cars.

We would Rearrange our initial equation to make P(AnB) the subject formula becoming;

P(A/B) = P(AnB)/P(B)

P(B)*P(A/B) = P(AnB)

So, inserting our probabilities into this equation gives:

0.6*0.8 = 0.48

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From 2000 to 2003, the number of employees at a certain company increased by a factor of 1/4. From 2003 to 2006, the number of e
Rina8888 [55]

Answer:

Let's assume that "X" be the number of employees in 2000.

∵ it's given :

From 2000 to 2003: the number of employees increased by a factor of 1/4

From 2003 to 2006: the number of employees decreased by a factor of 1/3

∴ We can equate the following details:

X×(increase in employee)×(decrease in employee) = 100

X×(1+\frac{1}{4})×(1-\frac{1}{3}) = 100  

X×(\frac{5}{4})×(\frac{2}{3}) = 100  

X×(\frac{10}{12}) = 100  

X = 100×(\frac{12}{10})  

<em>X = 120  </em>

<u><em>Therefore, the correct option is (b)</em></u>

6 0
3 years ago
Deferral adjustments are needed when the business:_______
Mnenie [13.5K]

Answer: b. pays cash before the expense has been incurred.checked

d. receives cash before the revenue has been generated

Explanation:

Here is the complete question:

Deferral adjustments are needed when the business:

a. pays cash after the expense has been incurred.unchecked

b. pays cash before the expense has been incurred.checked

c. receives cash after the revenue has been generated.unchecked

d. receives cash before the revenue has been generated.

Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.

Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.

Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.

When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.

5 0
3 years ago
A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to
MaRussiya [10]

Answer:

A) $24,602

Explanation:

We can solve this question by finding the periodic deposits needed by using the formula:

FV=PMT*\frac{(1+i)^n-1}{i}

where:

FV= future value   = $220,000

PMT = periodic deposits required = ???

i = effective  interest rate per period = 0.0331

n= number of deposits = 8

However, since the interest is compounded monthly, let's also  calculate the effective interest rate

Effective interest rate = (1+\frac{r}{m}) ^m-1

where; r = 12.5% = 0.125

(1+\frac{0.125}{12})^{12} -1

= 0.1324

Interest rate per period = \frac{0.1324}{4}

= 0.0331

Then;

220,000=PMT*\frac{(1+0.033)^8-1}{0.033}

220,000 = PMT × 8.986

PMT = \frac{220,000}{8.986}

PMT = $ 24,482.5

Since A) $24,602 is closer to $ 24,482.5

Therefore,  $ $24,602  must be deposited every three months

3 0
3 years ago
a company had net revenues of $1,800,000 and total expenses of $800,000, not including income taxes. it paid $300,000 in dividen
Gnesinka [82]

The company's total expenses, excluding income taxes, were $800,000, with net revenues of $1,800,000. It distributed dividends of $300,000. and it has a net income of $1,000,000 before taxes.

Net revenues = $1,800,000

Less: Total expense = $800,000

Net income before tax = $1,000,000

A dividend is a payment made by a company to its shareholders out of its profits. When a business generates a profit or surplus, it can distribute a portion of that profit to shareholders in the form of a dividend. Any unused funds are retained and reinvested back into the company. Both the profit from the current year and the retained earnings from prior years are available for distribution; a corporation is typically not allowed to pay a dividend out of its capital.

The amount that is distributed to shareholders may be paid in cash (typically a deposit into a bank account) or, if the company has a dividend reinvestment plan, it may be paid by the issuance of additional shares or the repurchase of shares.

To learn more about Dividends visit here:

brainly.com/question/28044310

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8 0
1 year ago
Josephine quits her $40,000 a year job to start her own business. She rents an office for $15,000 a year, pays wages and salarie
Sliva [168]

Answer:

b. $51,000 and $5000.

Explanation:

According to the scenario, computation of the given data are as follows,

Total Revenues = $140,000

Explicit cost = $15,000 + $50,000 + $4,000 + $20,000 = $89000

Implicit cost (opportunity cost) = $40,000 + $6,000 = $46,000

So, we can calculate accounting profit and economic profit by using following formula,

Accounting Profit = Total revenue - Explicit cost

By putting the value, we get

= $140,000 - $89,000

= $51,000

Economic Profit = Total revenue - Explicit cost - Implicit cost

By putting the value, we get

= $140,000 - $89,000 - $46,000

= $5,000

3 0
3 years ago
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