Answer:
$1,161.18 (assuming if interest rate is 3%)
Step-by-step explanation:
Kindly check the attached picture for explanation
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Answer:
The minimum number of bicycles that must be produced and sold to break even = 20
Explanation:The profit generated by producing and selling n bicycles per week is given by the formula:
To get the minimum number of bicycles that must be produced and sold to break even, let P(n) = 0 (Since break even means no profit is made)
Solve the resulting quadratic equation above
This means that, to break even, either 60 or 20 bicycles must be produced and sold
The minimum number of bicycles that must be produced and sold to break even = 20
Answer:
0.9999
Step-by-step explanation:
Let X be the random variable that measures the time that a switch will survive.
If X has an exponential distribution with an average life β=44, then the probability that a switch will survive less than n years is given by
So, the probability that a switch fails in the first year is
Now we have 100 of these switches installed in different systems, and let Y be the random variable that measures the the probability that exactly k switches will fail in the first year.
Y can be modeled with a binomial distribution where the probability of “success” (failure of a switch) equals 0.0225 and
where
equals combinations of 100 taken k at a time.
The probability that at most 15 fail during the first year is