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Marina86 [1]
3 years ago
7

Suppose the data have a bell-shaped distribution with a mean of 25 and a standard deviation of 5. Use the empirical rule to dete

rmine the percentage of data within each of the following ranges.
(a) 15 to 35 approximately 68% approximately 95% almost all
(b) 10 to 40 approximately 68% approximately 95% almost all
(c) 20 to 30 approximately 68% approximately 95% almost all

Business
1 answer:
Zielflug [23.3K]3 years ago
3 0

Answer:

a) 15 to 35 approximately 95%

(b) 10 to 40 approximately almost all

(c) 20 to 30 approximately 68%

Explanation:

The data have a bell-shaped distribution which means the data is equally distributed on both sides of the mean.

We have the mean at 25 and a standard deviation of 5 which means that the interval is for each of the values of 5 .

The mean would be u and

The first value would be u ±σ = 25 ± 5= 20 and 30 (68 % )

The second value will be u ± 2σ= 25± 10 = 15 and 35 (95%)

The third value will be u ± 3σ= 25 ± 15 = 10 and 40 (99.7 % almost all)

In the figure below the light blue region gives u ±σ on both sides of the mean

, dark blue gives u ± 2σ values on both sides of the mean and grey gives

u ± 3 σ values on both sides of the mean.

It is obvious that 68 % of the data is contained in the u ±σ light blue region, 95 % of the data in the  u ± 2σ dark blue including light blue and 99.7 % in the u ± 3σ all colored regions.

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Answer:

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Net operating income $ 35,000 on absorption costing income statement

Explanation:

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Income Statement

Variable Costing

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Variable Costs

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Direct labor $6× 35,000 units  $ 210,000

Variable manufacturing overhead $1× 35,000 units $ 35000

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Less

Fixed Overheads       $4 * 35,000= $ 140,000            

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Net operating income $ 35,000

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Income Statement

Sales (35,000 units × $25 per unit) $ 875,000

Cost of goods sold (35,000 units × $16 per unit) 560,000

Gross margin 315,000

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Net operating income $ 35,000

The company’s selling and administrative expenses consist of $210,000 per year in fixed expenses and $2 per unit sold in variable expenses. The $16 unit product cost given above is computed as follows: Direct materials $ 5 Direct labor 6 Variable manufacturing overhead 1 Fixed manufacturing overhead ($160,000 ÷ 40,000 units) 4 Absorption costing unit product cost $ 16

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June           $225,000        60%                 $135,000

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