An arena receives $1,700 per event for 12 concerts. If the costs for this sponsorship total $14,000, what is the profit margin f
1 answer:
Answer:
The profit margin for the concert sponsorship is 31.3725 %
Step-by-step explanation:
An arena receives for 1 event = $1700
An arena receives for 12 events =
An arena receives for 12 events = 20400
The costs for this sponsorship total $14,000
Profit = 20400-14000
Profit =6400
Profit margin =
Profit margin =
Hence the profit margin for the concert sponsorship is 31.3725 %
You might be interested in
Answer:
(a) The probability that during the next hour less than 3 patients will be admitted is 0.00623.
(b) The probability that during the next two hours exactly 8 patients will be admitted is 0.00416.
Step-by-step explanation:
<u>The complete question is:</u> General Hospital has noted that they admit an average of 8 patients per hour.
(a) What is the probability that during the next hour less than 3 patients will be admitted?
(b) What is the probability that during the next two hours exactly 8 patients will be admitted?
The above situation can be represented through Poisson distribution as it includes the arrival rate of the pattern. So, the probability distribution of the Poisson distribution is given by;
Here X = Number of patients admitted in the hospital
= arrival rate of patients per hour = 9 patients
So, X ~ Poisson( = 9)
(a) The probability that during the next hour less than 3 patients will be admitted is given by = P(X < 3)
P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)
=
=
= <u>0.00623</u>
(b) Here, = 18 because we have to find the probability for the next two hours and we are given in the question of per hour.
So, X ~ Poisson( = 18)
Now, the probability that during the next two hours exactly 8 patients will be admitted is given by = P(X = 8)
P(X = 8) =
= <u>0.00416</u>