Please help me with this problem
1 answer:
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Answer:
The cut-off dollar amount is $328.
Step-by-step explanation:
Normal Probability Distribution:
Problems of normal distributions can be solved using the z-score formula.
In a set with mean and standard deviation
, the z-score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.
Mean cost of $328, standard deviation of $82.
This means that
If you want to be in the bottom 50%, what will be the cut-off dollar amount?
The 50th percentile, which is X when Z has a pvalue of 0.5. So X when Z = 0.
The cut-off dollar amount is $328.
Answer:
d. May
Step-by-step explanation:
To find when Kesia records got to break even, we first need to find how much they made total per month.
Now we need to first find how much they made on January.
The production cost of January will be:
Production cost = 5486 x 1.13
Production cost = $6199.18
Now that we know the production cost, we need to solve first for the total revenue.
Total Sales Revenue = 5486 x 9.75
Total Sales Revenue = $53488.50
Now that we have both the revenue and the production cost, we need can find how much profit by:
Profit = Total Sales Revenue - Production cost - Overhead
Profit = 53488.50 - 6199.18 - 27714
Profit = $19575.32
So they made a profit of $19575.32 by the end of January.
Now we move on to the other months.
Production cost = 8191 x 1.13
Production cost = $9255.83
Total Sales Revenue = 8191 x 9.75
Total Sales Revenue = $79862.25
Profit = 79862.25 - 9255.83 - 21689
Profit = $48917.42
Now that we have the profit for 2 months, we simply add them together.
Current Value = 19575.32 + 48917.42
Current Value = 68492.74
By doing the same process with the rest of the months, we get:
Refer to Image.
We can see in the image that by May they reach a total profit of $149897.77.
Since Kesia records paid $148950, the company got to break even at the month of May.
