Question:
The mean cost of domestic airfares in the United States rose to an all-time high of $385 per ticket (Bureau of Transportation Statistics website, November 2, 2012). Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $110.What is the probability that a domestic airfare is $550 or more (to 4 decimals)?
Answer:
0.0668
Step-by-step explanation:
We are given:
Mean cost of domestic airfare u = $385 per ticket
Standard Deviation =
= $ 110
Since the distribution is normally distributed, we'll find the probability that a domestic airfare is more than or equal to $550.
Therefore
P(Airfares ≥ 550)
We are to use z score since it is normally distributed.
Let's find the equivalent z score of x at 550.
For z score, we use the expression:
Substituting figures in the expression, we have:
Therefore,
P(X ≥ 550) = P(z ≥ 1.5)
From the z table we get that P(z ≥ 1.5) = 0.0668
It can be deduced that, since P(X ≥ 550) = P(z ≥ 1.5), the probability that the domestic airfare is equal or more than $550 is 0.0668
Answer:
Sales for September= 55,000 units
Explanation:
Giving the following information:
July August September Sales in units 40,000 52,000 ?
Production in units:
July= 41,200
August= 52,300
September= 56,650.
10% of the next month's sales in units should be on hand at the end of each month.
Production August:
Sales August= 52,000
Ending inventory= ?
Beginning inventory= (52,000*0.10)= 5,200 (-)
Total= 52,300
Ending inventory= 52,300 - 52,000 + 5,200
Ending inventory= 5,500 units
Sales for September= 5,500/0.10= 55,000 units
Answer:
is a potential liability that has arisen because of a past event or transaction.
Explanation:
A contingent liability is a potential liability that has arisen because of a past event or transaction.
Some of the characteristics of contingent liabilities includes being remote, probable, estimable, and reasonably possible.
In order to record a contingent liability as a liability on a company's balance sheet, it must be probable (likely to occur) and subject to estimate.
Hence, companies are advised to record the contingent liabilities so as to meet the Generally Accepted Accounting Principles (GAAP) and IFRS requirements.
The type of device that you most likely are using is an
input device as this is a device that has the component of having to use in a touch
screen mode. If you are going to locate a place using touch screen monitors,
then you are using an input device.
Answer:
comparability of data
Explanation:
Comparability of information is one attribute used only to characterize the consistency of descriptive statistics. For two factors the principle of comparability of data is especially critical to a Triad.
Secondly, the Constellation demonstrates shared data sets. Through nature, the shared data sets include information from different analytical techniques. The degree of comparability among two separate sequencing / technical methods affects the way in which sets of data can be jointly compiled, analyzed and used to help strategic thinking.
