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german
4 years ago
5

e Department of Traffic Security of a city is considering the purchase of a new drone for aerial surveillance of traffic on its

most congested streets. A similar purchase 4 years ago cost $950,000. At an interest rate of 7% per year, what is the equivalent value today of the previous $950,000 expenditure?
Business
1 answer:
maks197457 [2]4 years ago
3 0

Answer:

The equivalent value of the expenditure today is = $1,245,256.21

Explanation:

The equivalent today of the 950,000 would be the future value compounded at 7% per year.

FV =  PV × (1+r)^n

FV - ?, PV - value 4 years ago, n- number of years, r- rate of return

PV - 950,000, n- 4, r-7%

FV = 950,000 ×(1.07^4)=  1,245,256.21  

The equivalent value of the expenditure today is = $1,245,256.21

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Omega Custom Cabinets produces and sells custom bathroom vanities. Assume that labor is the only input that varies for the firm.
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Answer:

The answer is option a). For the 11th worker, the marginal profit is $600.

Explanation:

<em>Step 1: Determine the initial profit for the 10 workers as shown;</em>

initial profit=revenue from sales-cost of labor

where;

revenue from sales=sale per unit×number of units

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cost of labor=cost per unit×number of workers

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replacing;

initial profit=16,000-10,000=$6,000

<em>Step 2: Determine the final profit for the 10 workers as shown;</em>

final profit=revenue from sales-cost of labor

where;

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cost of labor=cost per unit×number of workers

cost of labor=1,000×11=$11,000

replacing;

final profit=17,600-11,000=$6,600

<em>Step 3: Determine the marginal profit as shown;</em>

marginal profit=final profit-initial profit

where;

final profit=$6,600

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replacing;

marginal profit=6,600-6,000=$600

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How much federal tax is deducted from the paycheck.
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2 years ago
He georgetown, south carolina, traffic division reported 40% of high-speed chases involving automobiles result in a minor or maj
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Answer: The probability that 25 or more out of 50 high speed chases result in minor or major accidents is 0.097807364  or 9.781%.

The rate of accidents at 0.40 is a constant rate, and hence we can use the binomial distribution to calculate the probability.

The formula for computing the probability with the binomial distribution is:

P(X=x) = _{n}C_{x}*p^{x}*q^{n-x}

where

N  is number of trials  = 50

p is probability of of a hit in a single trial. In this case, p = 0.40

q is probability of of a miss in a single trial. Now q = 1 - p; q = 1 - 0.4 = 0.6 for this question

x will take on the whole numbers from 25  and continue upto 50

The questions asks us to compute the probability that 25 or more chases will result in an accident.  

We express this as P( X≥ 25) mathematically.

We can also express P( X≥ 25)  as P (x=25) + P(x=26) + ................ + P(50) i.e the sum of all the individual probabilities when x assumes each of the values from 25 upto 50.

That's why x will take on each of the whole numbers from 25 to 50.

We can compute P( X=25) by substituting the values in the formula above.

P(X=25) = _{50}C_{25}*0.4^{25}*0.6^{50-25}

P(X=25) = \frac{n!}{x!*(n-x)!}*0.4^{25}*0.6^{50-25}

P(X=25) = \frac{50!}{25!*(50-25)!}*0.4^{25}*0.6^{50-25}

P(x=25) = 0.040463604

Similarly we need to compute the probabilities for x =26, 27 and so on until x =50. The sum total of all these probabilities the answer.

The workings have been made in excel and are attached to this answer as a picture.

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