A camera manufacturer spends $2,000 each day for overhead expenses plus $9 per camera for labor and materials. The cameras sell
2 answers:
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Answer:
a) P(x≥6)=0.633
b) P(4≤x≤8)=0.8989 (one standard deviation from the mean).
c) P(x≤7)=0.8328
Step-by-step explanation:
a) We can model this a binomial experiment. The probability of success p is the proportion of customers that prefer the oversize version (p=0.60).
The number of trials is n=10, as they select 10 randomly customers.
We have to calculate the probability that at least 6 out of 10 prefer the oversize version.
This can be calculated using the binomial expression:
b) We first have to calculate the standard deviation from the mean of the binomial distribution. This is expressed as:
The mean of this distribution is:
As this is a discrete distribution, we have to use integer values for the random variable. We will approximate both values for the bound of the interval.
The probability of having between 4 and 8 customers choosing the oversize version is:
c. The probability that all of the next ten customers who want this racket can get the version they want from current stock means that at most 7 customers pick the oversize version.
Then, we have to calculate P(x≤7). We will, for simplicity, calculate this probability substracting P(x>7) from 1.
Answer:
Susan's take-home pay <u>$48,645</u>.
Step-by-step explanation:
Given:
Susan, a recent college graduate, makes a base salary of $70,000 per year. Susan has federal income tax withholding of $12,000, and state tax withholding of $4,000. Employers are required to withhold a 6.2% Social Security tax and a 1.45% Medicare tax.
Now, to find Susan's take-home pay.
Basic salary = $70,000.
Now, her tax withholdings:
Federal income tax = $12,000.
State tax = $4,000.
<u><em>Social security tax = 6.2% of $70,000.</em></u>
<u><em>Medicare tax = 1.45% of $70,000.</em></u>
Now, to get the take-home pay of Susan's we subtract all the tax holdings of federal, state, social and medicare from the basic salary:
Therefore, Susan's take-home pay $48,645.