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Answer:
Probability that the sample mean would be less than 23,013 dollars is 0.2358.
Step-by-step explanation:
We are given that the mean per capita income is 23,037 dollars per annum with a variance of 149,769.
Also, a sample of 134 persons is randomly selected.
Firstly, Let = sample mean
The z-score probability distribution for sample mean is given by;
Z = ~ N(0,1)
where, = population mean per capita income = 23,037 dollars p.a.
= standard deviation =
=
= 387 dollars p.a
n = sample of persons = 134
So, probability that the sample mean would be less than 23,013 dollars is given by = P( < 23,013 dollars)
P( < 23,013) = P(
<
) = P(Z < -0.72) = 1 - P(Z
0.72)
= 1 - 0.7642 = 0.2358
The above probability is calculated using the z-score table.
<em>Therefore, probability that the sample mean would be less than 23013 dollars if a sample of 134 persons is randomly selected is 0.2358.</em>
Company A is operating more efficiently
Step-by-step explanation:
Given parameters:
Division A:
Sales = $180,000
Net income = $18,000
Average assets = $72,000
Division B:
Sales = $60,000
Net income = $9,600
Average assets = $48,000
Unknown:
Division operating more efficiently = ?
Solution:
Efficiency measures the relationship between the output from a business and the input into it. Here, the efficiency is the relationship between the net income and the average assets. it can be expressed as a percentage or ratio.
The net income is the profit derived from sales of a company's products.
The higher the value the more efficient a company is.
Efficiency = x 100
Efficiency of division A = x 100 = 25%
Efficiency of division B = x 100 = 20%
Division A has a higher efficiency compared to B
Learn more:
Economic goals brainly.com/question/8951463
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