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Tomtit [17]
1 year ago
8

A hot dog vendor sells an average of 50 hot dogs during a Little League baseball game. If the sales are Normally distributed wit

h a standard deviation of 7 hot dogs, what is the probability the vendor will sell between 45 and 65 hot dogs? Show your work.
Business
1 answer:
Kobotan [32]1 year ago
5 0

Answer:

74.64%

Explanation:

Average sales (μ) = 50 hot dogs

Standard deviation (σ) = 7 hot dogs

In a normal distribution, the z-score for any given number of hot dogs sold, X, is determined by:

z=\frac{X-\mu}{\sigma}

For X = 45 hot dogs:

z=\frac{45-50}{7}\\ z= -0.7143

For X = 65 hot dogs:

z=\frac{65-50}{7}\\ z= 2.1429

A z-score of -0.7143 falls in the 23.75th percentile of a normal distribution while a z-score of 2.1429 falls in the 98.39th percentile.

Therefore, the probability that he vendor will sell between 45 and 65 hot dogs is:

P(45 \leq X \leq 65) = 98.39-23.75\\P(45 \leq X \leq 65) = 74.64\%

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Answer:

The Warren's total assets at the end of April is $345,000

Explanation:

The computation of the ending total assets value is shown below:

= Total assets - sale of stock + machine purchased - cash payment for purchase of building + purchase of short term investment - cash payment for purchase of short term investment - cash paid to the employee as a loan + notes issued

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Answer:

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Explanation:

Here is the full question :

What is the present value of an annuity of $27 received at the beginning of each year for the next six  years? The first payment will be received today, and the discount rate is 10%

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To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

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