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saul85 [17]
3 years ago
13

Weekly demand for tennis balls at The Racquet Club is normally distributed , with a mean of 35 cases and a standard deviation of

5 cases . The club gets a profit of $ 50 per case (a ) Simulate 52 weeks of demand and calculate the average weekly profit. Make all demand values integers in your model . (b ) What is the probability that weekly profit will be \$2,00 or more ?
Business
1 answer:
RideAnS [48]3 years ago
4 0

Answer:

a-The average weekly profit is $1767.31

b- The probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.

Explanation:

a

The weekly average profit for the simulation is given where first the values are simulated using R which is given as below:

x<-round(rnorm(n,m,s))

Here

  • round converts all the values of the simlation to integer.
  • rnorm is the command for simulation
  • n is the number of values which is 52 in this case
  • m is the mean of the values which is 35
  • s is the value of standard deviation which is 5 cases.

The values of x are as follows

[1] 36 49 30 29 34 36 32 28 32 29 32 27 40 32 30 37 43 30 42 30 31 34 36 38 28 29 32 42 36 35

[31] 37 41 34 39 37 46 34 44 45 41 41 29 36 38 35 32 36 39 30 38 40 27

Now using these values, the average of the simulation values is cacluated as follows:

mean(x)

35.3462

Now using this with the value of profit of $50 gives:

Average Profit=$50 x 35.3462

Average Profit=$1767.31

The average weekly profit is $1767.31

b-

First number of cases are required so that the value will be greater than 2000 it is given as

Number of cases=2000/50=40

So firstly the Z-score is calculated which is as below:

Z=\dfrac{x-\mu}{\sigma}\\Z=\dfrac{40-35}{5}\\Z=1

Now the probability is given as

P(X\geq 40)=P(Z\geq 1)\\P(X\geq 40)=1-P(Z< 1)

The value of P(Z<1) is calculated from the table which is given as

0.84134

So the equation becomes

P(X\geq 40)=1-P(Z< 1)\\P(X\geq 40)=1-0.8413\\P(X\geq 40)=0.1587

So the probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.

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Karolina [17]

Answer:

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Explanation:

given data

investment  = $39,000

charges commission (load)  = 4.5 percent

to find out

Calculate the amount of commission (load) Jan must pay

solution

we get amount of commission will be here as

amount of commission = investment × charges commission %   ......................1

put here value we will get

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so amount of commission (load) Jan must pay is $1755

5 0
3 years ago
An individual retirement account, or IRA, earns tax-deferred interest and allows the owner to invest up to $5000 each year. Joe
gavmur [86]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Jill:

Weekly deposit= $96.15

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Interest rate= 0.098/52= 0.00189

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To calculate the final value of Jill and Joe, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= weekly/annual deposit

<u>Jill:</u>

FV= {96.15* [(1.00189^1,560)-1]} / 0.00189

FV= $916,853.88

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7 0
3 years ago
An investor buys 400 shares of stock in a fund when the net asset value is $23.79 and the offer price is $23.89. The investor
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Answer:

I believe the best answer would be A. $10,580

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Answer:

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A farmer needs 500 vats of fertilizer a week during the summer. He has a barn that can hold plenty of vats which cost around $1
Simora [160]

Answer:

option (c) $500

Explanation:

Data provided in the question:

Demand, D = 500 vats of fertilizers

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