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Aloiza [94]
1 year ago
14

West Virginia has one of the highest divorce rates in the nation with an annual rate of approximately 5 divorces per 1000 people

(Centers for Disease Control and Prevention website, January 12, 2012). The Marital Counseling Center, Inc. (MCC) thinks that the high divorce rate in the state may require them to hire additional staff. Working with a consultant, the management of MCC has developed the following probability distribution for x = the number of new clients for marriage counseling for the next year.
West Virginia has one of the highest divorce rates

a. Is this probability distribution valid?
SelectYesNoItem 1

Explain.

f(x) Selectgreater than or equal to 0less than or equal to 0greater than or equal to 1less than or equal to 1Item 2
?f(x) Selectequal to 1not equal to 1greater than 1less than 1Item 3
b. What is the probability MCC will obtain more than 30 new clients (to 2 decimals)?

c. What is the probability MCC will obtain fewer than 20 new clients(to 2 decimals)?

d. Compute the expected value and variance of x.

Expected value clients per year
Variance squared clients per year
Business
1 answer:
Alex17521 [72]1 year ago
8 0

Answer:

a. Yes. It is a probability density function because \sum f(x) =1

. b. probability MCC will obtain more than 30 new clients=P(40)+P(50)+P(60)= 0.20+0.35+0.20=0.75

c. probability MCC will obtain fewer than 20 new clients= P(10)= 0.05

d.

x f(x) x*f(x) x*x*f(x)

10 0.05 0.5 5

20 0.1 2 40

30 0.1 3 90

40 0.2 8 320

50 0.35 17.5 875

60 0.2 12 720

1 43 2050

expected value = \sum xf(x) = 43

Variance = 2050-43^2= 201

Explanation:

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Answer:

Economists will agree more with Ana

Explanation:

Price discrimination is defined as the selling of the same product to different customers at different prices.

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6 0
1 year ago
The following are budgeted data for the Bingham Corporation, a merchandising company:
soldi70 [24.7K]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Budgeted Sales (at retail):

January $300,000*0.60=  180,000

February $340,000*0.6= 204,000

March $400,000*0.6= 240,000

April $350,000

Cost of goods sold as a percentage of sales 60%

Desired ending inventory 75% of next month sales

April:

Purchase from March= (240,000*0.25) + (350,000*0.60*0.75)=60,000 + 157,500= $217,500

5 0
2 years ago
In the Business Loan worksheet, enter the data values and formulas required to calculate the monthly payment on a business loan
Pavlova-9 [17]

Answer:

Monthly Payment: $1,879

Annual Payment: $13,975

Explanation:

To find the answer, we will use the present value of an annuity formula:

The formula is:

PV = A (1 - (1 + i)^-n) / i

Where:

  • PV = Present value of the investment (in this case, of the loan)
  • A = Value of the annuity (will be our incognita)
  • i = interest rate
  • n = number of compounding periods

The reason why we use this formula is because both the annual payments, and the monthly payments are annuities: payments that have regular time intervals, and have the same interest rate, which means that the value of each payment is the same.

To find the monthly payment, we first convert the annual interest rate of 6.2% to a monthly rate. The result is a 0.5% monthly rate.

Next, the number of compounding periods changes, because the monthly rate compounds each month, not once every year. For these reason, we use the number of months that there are in 15 years, which is 180 months (15 x 12 = 180).

Third, we divide the interest rate by 100 to obtain the decimal value: 0.5 / 100 = 0.005

Finally, we plug the correct amounts into the formula:

225,000 = X (1 - (1 + 0.005)^-180) / 0.005

225,000 = X (118.5)

225,000 / 118.5 = X

1,899 = X

Now, for the annual payment, we simply use the annual rate of 6.2% (divided by 100) instead of the monthly rate, and the compounding periods are now 15 years, instead of 180 months:

225,000 = X (1 - (1 + 0.062)^-15 / 0.062

225,000 = X (16.1)

225,000 / 16.1 = X

13,975 = X

4 0
2 years ago
The core revenue principle states that
Nastasia [14]

Answer:

B

Explanation:

Companies recognize revenue when goods or services are transferred to customers for the amount the company expects to be entitled to receive in exchange for those goods or services.

8 0
2 years ago
Eddie just landed his first job out of college, and he’s excited about the position. However, Eddie needs to be dressed up every
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Answer:

Why is it important to assess various credit options before making a decision on how to pay for

Explanation:

at questions should Selena ask before deciding on this option?

OPTION 3: Get a private college loan from her bank, Wells Fargo, which is currently offering fixed rates between 5.94% and 10.92%

PROS

What questions should Eddie ask before deciding on this option?

OPTION 2: Use $1250 of the $1500 he has saved in an Emergency Fund

PROS

CONS

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OPTION 3: Get a loan from Lending Club at an APR of 24.99%

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What questions should Eddie ask before deciding on this option?

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OPTION 2: Apply for a Federal Student Loan to coverhe’s excited about the position. However, Eddie needs to be dressed up every day and has no appropriate clothes right now. Eddie figures it will cost about $1250 to start a professional wardrobe.

OPTION 1: Open a 0% (for the first 6 months) credit card

PROS

CONS

What questions should Eddie ask before deciding on this option?

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OPTION 1: Open a 0% (for the first 6 months) credit card

PROS

CONS

What questions should Eddie ask before deciding on this option?

OPTION 2: Use $1250 of the $1500 he has saved in an Emergency Fund

PROS

CONS

What questions should Eddie ask before deciding on this option?

OPTION 3: Get a loan from Lending Club at an APR of 24.99%

PROS

CONS

What questions should Eddie ask before deciding on this option?

Selena is about to enter her senior year of college, when all of a sudden she realizes her school raised the tuition cost, and she’s short $6600 in her financial aid package.

OPTION 1: Charge the payments on the joint credit card account she shares with her mom, at a 14.99% APR

PROS

CONS

What questions should Selena ask before deciding on this option?

OPTION 2: Apply for a Federal Student Loan to cover the cost

PROS

CONSbwls

What questions should Selena ask before deciding on this option?

OPTION 3: Get a private college loan jsiaolqhs alkas

4 0
2 years ago
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