Answer:
Each cake cost £ 13.00
Step-by-step explanation:
We were given that, each cake costs or £
Andy buys cakes.
Andy's cost is
£
Betty buys 4 times as many cakes as Andy.
Betty's cost is
£
£
Colin buys 3 more cakes than Andy
Colin's cost is
£
The total cost of the cakes is £ .
This implies that,
We expand to get,
We group like terms to get,
This gives us,
This implies that,
Therefore each cake cost £ 13.00
Answer:
in units: 18,900
in dollars: $ 41,013
Step-by-step explanation:
The break even point is the sales dollar amount or sales in unit at whichthe operating income of the firm equals to zero:
Where:
<em><u>Contribution margin:</u></em>
2.17 - 1.27 = 1 dollar per unit
Break even:
$18,900 fixed cost / $1 per unit = 18,900 units
Then, in sales:
18,900 x $2.17 each = 41.013
break even point:
Answer:
a) Failed to reject the null hypothesis (P-value=0.09).
b) The 95% CI for the difference in proportions is:
Step-by-step explanation:
a) We have to perform a hypothesis test for the difference of proportions.
The null and alternative hypothesis are:
The significance level is 0.05.
The proportion of the passenger cars owners is:
The proportion of commercial truck owners is:
The weigthed average p is
The estimated standard deviation is
We can calculate the z-value as:
The P-value for z=-1.362 is P=0.0866.
The P-value (0.09) is greater than the significance level (0.05), so it failed to reject the null hypothesis. There is no enough evidence to prove that commercial trucks owners violate laws requiring front license plates at a higher rate than owners of passenger cars.
b) We can construct a 95% CI, according to the significance level of 0.05.
The z-value for this CI is 1.96.
We have to recalculate the standard deviation:
The lower limit is then:
The upper limit is:
The 95% CI for the difference in proportions is:
In this case, we can conclude that the difference between the proportions, with 95% confidence, can still be equal or greater than zero, meaning that it is possible passenger car owners violate laws more than truck owners.