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Aloiza [94]
2 years 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]2 years 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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A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have
Korolek [52]

Answer:

a. Alternative A Break-even point is 8,000 units Alternative B Break-even point is 7,500 units

b. Same profit with both alternatives at 10,000 units

c. Alternative A would have higher profit with a demmand of 12,000 units

Explanation:

a. FC/CMGu=BP

being:

FC= fixed costs

CMGu=contribution margin per unit

BP= Break even point

CMGu is the difference between price of sale and variable cost (per unit)

Alt. A Break-even point is $40,000/$5=8,000 UNITS

Alt. B Break-even point is $30,000/$4=7,500 UNITS

b. At 10,000 units both alternatives have the same profit

Alt. a.

Revenues= $150,000

Variable cost= $-100,000

Fixes Costs= $-40,000

------------------------------------

profit $10,000

Alt. b.

Revenues= $150,000

Variable cost= $-110,000

Fixes Costs= $-30,000

------------------------------------

profit $10,000

c. sales for 12,000 units

Alt. a.

Revenues= $180,000

Variable cost= $-120,000

Fixes Costs= $-40,000

------------------------------------

profit $20,000

Alt. b.

Revenues= $180,000

Variable cost= $-132,000

Fixes Costs= $-30,000

------------------------------------

profit $18,000

7 0
1 year ago
Read 2 more answers
mith Services, Inc., was a trucking company established in 2000 and owned by Tony Smith as the sole shareholder. Smith Services,
Evgesh-ka [11]

Answer:

Answers for related statements are given below.

Explanation:

1. Corporation

2.  Is

3.  Smith services

4.  Did

5. Was and was not

6. Was

7. Limited

8.  Their investment in the corporation

9.   Lost

lo. Might

11. Pierce the corporate veil

12.Abused and indistinguishable

13.Does not appear

14.Does not appear and does not appear

15.Is no and is no

16. Should not

7 0
2 years ago
Read 2 more answers
Giorgio Italian Market bought $8,000 worth of merchandise from Food Suppliers and signed a 90-day, 10% promissory note for the $
Mekhanik [1.2K]

Answer and Explanation:

The journal entry is shown below:

Cash $8,200

      To  Notes receivable  $8,000

      To Interest revenue ($8,000 × 10% × 90 days ÷ 360 days)  $200

(being the collection of notes is recorded)

For recording this we debited the cash as it increased the asset and credited the notes receivable and interest revenue as it decreased the assets and increased the revenue

4 0
2 years ago
In most instances, who is in the best position to perform the function of appraising an employee's performance? someone from the
natka813 [3]
The answer would be:
the employees supervisor.

Hope this helps
3 0
1 year ago
As the average hourly wage increases from $22 per hour to $28 per hour, the quantity demanded of Americano coffees increases fro
KIM [24]

Answer:income elasticity of demand for Americano coffees = 0.55

Explanation:

Income Elasticitity of demand = percentage change in quantity demanded / Percentage change in income

which can easily be calculated using

Income Elasticitity of demand =(New quantity  demanded - old quantity demanded/ old quantity)/(New Income - Old income /old income.

new income = $28

old income=$22

new quantity= 3450

old quantity=3000

Bringing down our formulae

Income Elasticitity of demand =(New quantitry  demanded - old quantity demanded/ old quantity)/(New Income - Old income /old income.

= {(3450-3000) /3000} /{(28-22)/22} =(450/3000) /(6/22) = 0.15/0.2727=0.55

income elasticity of demand for Americano coffees = 0.55

Here , we can see that we have a positive income elasticity of demand therefore Americano coffees is a normal good as an increase in income will lead to a rise in demand.  Also, the income elasticity of demand for this commodity is less than 1, therefore it is also a necessity good.

6 0
2 years ago
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