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iren [92.7K]
2 years ago
11

Fast Auto Service provides a lubrication service for cars. It is known that the mean time taken for this

Business
1 answer:
strojnjashka [21]2 years ago
6 0

Answer:

The answer is below

Explanation:

The z core is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:

z=\frac{x-\mu}{\sigma}\\\\where\ \mu=mean,\sigma=standard\ deviation, x = raw score

Given that mean (μ) = 15 minutes per car, standard deviation (σ) = 2.4 minutes.

1) For x > 18:

z=\frac{x-\mu}{\sigma} =\frac{18-15}{2.4} =1.25

From normal distribution table, P(x > 18) = P(z > 1.25) = 1 - P(z < 1.25) = 1 - 0.8944 = 0.1056

2) For x < 10:

z=\frac{x-\mu}{\sigma} =\frac{10-15}{2.4} =-2.08

From normal distribution table, P(x < 10) = P(z < -2.08) = 0.0188

3) For x > 12:

z=\frac{x-\mu}{\sigma} =\frac{12-15}{2.4} =-1.25

For x < 16:

z=\frac{x-\mu}{\sigma} =\frac{16-15}{2.4} =0.42

From normal distribution table, P(12 < x < 16) = P(z < 0.42) - P(z < -1.25) = 0.6628 - 0.1056 = 0.5572

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Answer:

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Hence, dividend in arrears for the year 2019 and 2020 is $14,000 ($7,000+$7,000). Dividend for 2021 is $7,000

Description                                                                             Amount

Preferred dividend in arrear for the year 2019 and 2020  $14,000

Add: Preferred dividend for the year 2021                          <u>$7,000</u>

Total preferred dividend                                                       $21,000

Less: Total dividend                                                               <u>$23,000</u>

Dividend for common shareholder                                     (<u>$2,000)</u>

Hence, dividend paid for cumulative preferred share in the year 2021 is $21,000 and the amount paid for common shareholders is $2,000

8 0
3 years ago
For each of these situations, determine the savings amount. Use the time value of money tables inChapter 1 (Exhibit 1–3) or in t
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Answer:

a. What would be the value of a savings account started with $700, earning 4 percent (compounded annually) after 10 years?

$700 * 1.480 = $1,036.00

b. Brenda Young desires to have $15,000 eight years from now for her daughter’s college fund. If she will earn 6 percent (compounded annually) on her money, what amount should she deposit now? Use the present value of a single amount calculation.

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Answer:

D

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