A family of five recently replaced its 5-gallon-per minute showerheads with water-saving 2-gallon per minute showerheads. Each m
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The total cost of the factory will be the sum of its variable costs and it's fixed costs. The factory has fixed costs of $53,900 and variable costs of $12.50 per unit produced. Let be the number of toy's produced by this Toby's Tiny Toys, then the total variable costs will be
. From this information we can gather that the cost function for this factory is,
On the other hand, if we let be the number of toys sold, we can gather that at the selling price of 16.50, the revenue function will be ,
Toby's Tiny Toys will reach their break even point when the total costs are equal to the total revenue. At this break even point ,we have that
The company has to sell 134 750 units to break even.
Answer:
The probability that exactly 97 of them finished the marathon is 0.221.
Step-by-step explanation:
We are given that in 2019, approximately 97.4% of all the runners who started the Boston Marathon were able to complete the 42.2 km race.
100 runners are chosen at random.
The above situation can be represented through the binomial distribution;
where, n = number of trials(or samples) taken = 100 runners
r = number of success = exactly 97
p = probability of success which in our question is the probability
that runners finished the marathon, i.e; p = 0.974
So, X ~ Binom(n = 100, p = 0.974)
Now, the probability that exactly 97 of them finished the marathon is given by = P(X = 97)
P(X = 97) =
=
= 0.221
Hence, the required probability is 0.221.