Since its telling you that x is the number of years and the question is "How much does the cost of milk increase EVERY YEAR" then you can conclude that the cost is increasing by 0.25 each year
P(A) = 0.993 is the probability of event A
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P(A) is the probability of not A (note that I am trying to place a bar over A. I hope you can see it, else it is because the editor did not show it as I intended)
Then, use the fact that the probability of A plus the probability not A is equal to 1:
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=> P(A) + P(A) = 1
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=> P(A) = 1 - P(A) = 1 - 0.993 = 0.007
So, the answers are:
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1) P(A) = 0.07
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2) Yes, A is unlikely because its probability is very low.
240 people will go to the food pantry
1) Johnson's profit is
... net profit = selling price - costs = $155 - 35.00 - 39.17 - 36.43 = $44.40
His net earnings per hour are then
... earnings/hours = $44.40 / (4.5 h) = $9.87/h
2) net profit = selling price - overhead - cost
... net profit = selling price - 0.45 × selling price - cost . . . . substitute for overhead
... net profit = 0.55 × selling price - cost
Given that overhead = 0.45 × selling price, we can find selling price by dividing by 0.45:
... selling price = overhead/0.45
Using this in the profit equation, we have
... net profit = 0.55×(overhead/0.45) - cost
... = (0.55/0.45) × $65.34 - 49.32 . . . . . . substitute given numbers
... net profit = $30.54
