Tom wants to open a store that sells hats. He thinks that he can sell them for $20 each. He estimates his monthly expenses to be
1 answer:
The equation 8x+3000=20x determines that Tom needs to sale 250 hats in order to break even.
Step-by-step explanation:
Given,
Selling cost of each hat = $20
Monthly expenses = $3000
Cost per hat = $8
Let,
x be the number of hats
y be the total amount.
Monthly costs;
y = 8x+3000
Revenue generated
y = 20x
For breaking even;
Monthly costs = Revenue generated
Dividing both sides by 12
The equation 8x+3000=20x determines that Tom needs to sale 250 hats in order to break even.
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Answer:
$6,020,826.711
Step-by-step explanation:
The computation of the present value of that year salary is shown below:
As we know that
Present value in case of continuous compounding, the formula is
where,
The Guaranteed amount is $9,000,000
The Time period is 6 years
And, the interest rate is 6.7%
Now placing these values
So, the present value is
= $6,020,826.711
Let x be the discrete random variable whose value is the number of successes in n trials.
The probability distribution function for x of the binomial distribution B(n,p) is defined as
Given that the random sample size is
let x represent number of customers who purchase running shoes
Let "p" be the probability of customers in a sporting goods store purchase a pair of running shoes.
It is given that 70% of the customers in a sporting goods store purchase a pair of running shoes.
Thus
Thus the Probability distribution of x is given by
, where