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1 answer:
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Answer:
40 Tickets
80 Tickets
Step-by-step explanation:
To find how many tickets it will take to break even, we use the formula:
Our variables are:
Fixed Cost = $200
Sales Price = $10
Variable Cost = $5
Let's plug in our values into the formula.
So the class needs to sell a total of 40 Tickets to break even.
Since we know that it takes 40 tickets to break even a $200 Fixed cost. To make a profit of $200, we simply multiply the number of tickets sold by 2.
Number of tickets for $200 profit = 40 x 2
Number of tickets for $200 profit = 80 Tickets.
So the class needs to sell 80 Tickets to make a $200 Profit.
Answer:
Step-by-step explanation:
Given:
Sample size, n= 1000
P' = 0.5
Level of significance, a = 0.05
a) The null and alternative hypotheses:
H0 : u ≥ 0.5
H1 : u < 0.5
This is a left tailed test.
Decision:
Reject null hypothesis H0 if p value is less than level of significance.
The test statistic, z =
z = - 3.1623
From the standard normal table,
NORMSDIST(-3.1623)= 0.00078 ≈ 0.0008
Pvalue = 0.0008
Since p value, 0.0008 is less than significance level 0.05, we reject H0.
In conclusion, there is sufficient evidence to evidence to reject H0.
b) The type I error here is the claim that less than 50% of adults have a will, whereas the probability is not less than 50%.
Probability of type I error = significance level = 0.05
c)What would your decision be in part A if the probability of making a Type I error were zero?
If probability of making a type I error were zero in part A, we are to reject the null hypothesis, H0.