The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5
<u>Given data :</u>
Mean value of gasoline per hour = 875 gallons
Standard deviation = 55 gallons
<h3>Determine the probability of demand being greater than 1800 gallons over 2 hours </h3>
Demand for gas in 1 hour = X₁
Demand for gas in 2 hours = X₁ + X₂
Therefore ; ( X₁ + X₂) ~ N ( u₁+u₂, sd₁² + sd₂² )
In order to calculate probabilities for normals apply the equation below
Z = ( X- u ) / sd
where : u = 1800, sd = √ ( 55² + 55² ) = 77.78
using the z-table
P( Y > 1800) = P( Z > ( 1800 - 1800 ) / 77.78)
= P( Z>0 ) = 0.5
Hence we can conclude that The probability that demand is greater than 1800 gallons over a 2 hour period is : 0.5.
Learn more about probability : brainly.com/question/24756209
#SPJ1
Answer:
Mark−up percentage = 18.75%
Explanation:
Total manufacturing cost= Direct material + Direct labor + Variable overhead + Fixed overhead
= $36 + $24 + $18 + $40
= $118
Hence, the total manufacturing cost is $118.
Total selling cost = Fixed selling cost + Variable selling cost
Total selling cost = $28 + $14
Total selling cost = $42
Hence, the total selling cost is $42
Total cost = Total Manufacturing cost + Total selling cost
Total cost = $118 + $42
Total cost = $160
Mark−up percentage = ROI / Total cost * 100
Mark−up percentage = $30 / $160 * 100
Mark−up percentage = 0.1875 * 100
Mark−up percentage = 18.75%
Answer: The answer is 3 seconds
Explanation: because 24 divided by 3 is 8. Eight must be subtracted 3 times from 24 in order to reach 0.
Answer:
C) causing a shortage of funds for investment in physical capital.
Explanation:
In economics, savings equals investment. Higher investments result in higher productivity, that is why the savings rate of a country is the single most important factor in determining future economic growth.
Low savings rate means that current consumption is very large, and that benefits economic growth on the short run (very short run, like 1 or 2 years), but future economic growth will suffer from it.
Imagine your house as the total economy of a nation. You earn $1,000 per month and must decide how much to spend right now and how much to save for future spending. If you spend the $1,000 right now, you will purchase several things and enjoy them immediately. But what happens in one or two weeks. Since you do not have any more money left, you cannot purchase anything else, which reduces your future joy.
Investment increases future wealth and fosters economic prosperity.
