The Arc Electronic Company had an income of 59 million dollars last year. Suppose the mean income of firms in the same industry as Arc for a year is 45 million dollars with a standard deviation of 7 million dollars. If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will earn more than Arc did last year

Answers

Answer 1

Answer:

0.0228 = 2.28% probability that a randomly selected firm will earn more than Arc did last year

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Suppose the mean income of firms in the same industry as Arc for a year is 45 million dollars with a standard deviation of 7 million dollars

This means that [tex]\mu = 45, \sigma = 7[/tex]

What is the probability that a randomly selected firm will earn more than Arc did last year?

Arc earned 59 million, so this is 1 subtracted by the pvalue of Z when X = 59.

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{59 - 45}{7}[/tex]

[tex]Z = 2[/tex]

[tex]Z = 2[/tex] has a pvalue of 0.9772

1 - 0.9772 = 0.0228

0.0228 = 2.28% probability that a randomly selected firm will earn more than Arc did last year


Related Questions

The table shows the prices for the same cereal, sold in different weights. Which size box is the best buy, in terms of price per ounce?

A. 9 oz
B.18 oz
C.28 oz
D.38 oz

Answers

Answer:

c

Step-by-step explanation:

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A stadium is shaped like a hemisphere with a radius of 150 feet. Last month, the owners of the stadium paid $0.05 per cubic foot to cover the cost of utilities. What was the total cost for utilities last month?

Answers

Answer:

353,249 feet cubed

Step-by-step explanation:

V=(4/3)[tex]\pi (3.14)rx^{3}[/tex]/2 times 0.05

PLEASE I NEED HELP CLICK ON THIS IMAGE

Answers

Answer:

Mean: 10

Median: 10.5

Mode: none

Step-by-step explanation:

there is no mode, mean is 10 and median is 10.5

an oil company bores a hole 80m deep estimate the cost of boring if the cost is £30 for drilling the first meter with an increase in cost of £2 per meter for each succeeding meter​

Answers

Answer: £188

Step-by-step explanation:

Given

The depth of the hole is 80 m

For the first meter, it is £30

After that, it is £2 per meter

after a meter, it is 79 m more

The total cost is C

[tex]\Rightarrow C=30+2\times 79\\\Rightarrow C=30+158=188[/tex]

An architect’s blueprint for a new house shows the kitchen being 7 inches wide. If the scale used to create the blueprint is 0.5 in. = 1 ft, what is the actual width of the kitchen?

Answers

You would do 7x0.5 which equals 3.5 ft :^)

If 60 minutes equals one hour, which expression would you use to find the number of
hours in 240 minutes?

Answers

Answer is: 60x=240
240/60=40

Please help me :) I will give Brainiest to whoever does! PLEASE HURRY

Answers

Answer:

18.33

Step-by-step explanation:

which is an equation of a line through (7,1) and perpendicular to y=-x+3

Answers

Answer:

The answer is y=-1x+8 or you can write it this way y=-x+8 either way will work fine.

Step-by-step explanation:

y=mx+b

m=-1

y-y=m(x-x¹)

y-1=-1(x-7)

y-1=-1x+7

+1 +1

y=-x+8

I hope this helps:)

Find the missing angle of each triangle.

Answers

Answer:

1 is 64

2 is 85

3 is 56 hope this helps  

Step-by-step explanation:

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A clothing business finds there is a linear relationship between the number of shirts, n (in thousands) it can sell and the price, P, it can charge per shirt. In particular, historical data shows that 3 thousand shirts can be sold at a price of $69 each, and that 7 thousand shirts can be sold at a price of $61 each. Find the equation of the form P(n)

Answers

Answer:

The equation of the form P(n) is:

P(n)=-0.002n+75

Step-by-step explanation:

From the information provided, you have two points: (3000, 69) and (7000, 61). With this, you can find the slope using the following formula:

m=(p1-p2)/(n1-n2)

m=slope

p1=69

p2=61

n1=3000

n2=7000

m=(69-61)/(3000-7000)

m=8/-4000

m=-0.002

Now that you have the slope, you can find the the equation of the form P(n):

P(n)=-0.002(n-3000)+69

P(n)=-0.002n+6+69

P(n)=-0.002n+75

According to this, the answer is that the equation of the form P(n) is:

P(n)=-0.002n+75

Show your work: 1/2x = 10

Answers

1/2x = 10
think of it as 1/2 • x = 10
then multiple both sides by 2
1 • x = 20
so x=20

Solve for the length of BA and BC, round your answer to 1 decimal place

Answers

Answer:

[tex]BA = 6.0[/tex]

[tex]BC = 13.4[/tex]

Step-by-step explanation:

Given

The attached triangle

Solving (a) BA

Considering the tangent of angle C, we have:

[tex]tan\ C = \frac{BA}{AC}\\[/tex]

This gives:

[tex]tan\ 25 = \frac{BA}{12}[/tex]

Make BA the subject

[tex]BA = 12 * tan\ 25[/tex]

[tex]BA = 12 * 0.4663[/tex]

[tex]BA = 6.0[/tex] --- approximated

Solving (a) BC

Using Pythagoras theorem

[tex]BC^2 = BA^2 + AC^2[/tex]

[tex]BC^2 = 6.0^2 + 12^2[/tex]

[tex]BC^2 = 180[/tex]

Square root of both sides

[tex]BC = \sqrt{180[/tex]

[tex]BC = 13.4[/tex]

It is desired to compare the hourly rate of an entry-level job in two fast-food chains. Eight locations for each chain are randomly selected throughout the country, the selections for each chain being independent. The following hourly rates are recorded:
Chain A 4.25 4.75 3.80 4.50 3.90 5.00 4.00 3.80
Chain B 4.60 4.65 3.85 4.00 4.80 4.00 4.50 3.65
Under the assumption of normality and equal variances, can it be concluded at the 5% significance level that chain A pays more than chain B for the job under consideration?

Answers

Answer:

It can be concluded that at 5% significance level that there is no difference in the amount paid by chain A and chain B for the job under consideration

Step by Step Solution:

The given data are;

Chain A 4.25, 4.75, 3.80, 4.50, 3.90, 5.00, 4.00, 3.80

Chain B 4.60, 4.65, 3.85, 4.00, 4.80, 4.00, 4.50, 3.65

Using the functions of Microsoft Excel, we get;

The mean hourly rate for fast-food Chain A, [tex]\overline x_1[/tex] = 4.25

The standard deviation hourly rate for fast-food Chain A, s₁ = 0.457478

The mean hourly rate for fast-food Chain B, [tex]\overline x_2[/tex] = 4.25625

The standard deviation hourly rate for fast-food Chain B, s₂ = 0.429649

The significance level, α = 5%

The null hypothesis, H₀:  [tex]\overline x_1[/tex] = [tex]\overline x_2[/tex]

The alternative hypothesis, Hₐ:  [tex]\overline x_1[/tex] ≠ [tex]\overline x_2[/tex]

The pooled variance, [tex]S_p^2[/tex], is given as follows;

[tex]S_p^2 = \dfrac{s_1^2 \cdot (n_1 - 1) + s_2^2\cdot (n_2-1)}{(n_1 - 1)+ (n_2 -1)}[/tex]

Therefore, we have;

[tex]S_p^2 = \dfrac{0.457478^2 \cdot (8 - 1) + 0.429649^2\cdot (8-1)}{(8 - 1)+ (8 -1)} \approx 0.19682[/tex]

The test statistic is given as follows;

[tex]t=\dfrac{(\bar{x}_{1}-\bar{x}_{2})}{\sqrt{S_{p}^{2} \cdot \left(\dfrac{1 }{n_{1}}+\dfrac{1}{n_{2}}\right)}}[/tex]

Therefore, we have;

[tex]t=\dfrac{(4.25-4.25625)}{\sqrt{0.19682 \times \left(\dfrac{1 }{8}+\dfrac{1}{8}\right)}} \approx -0.028176[/tex]

The degrees of freedom, df = n₁ + n₂ - 2 = 8 + 8 - 2 = 14

At 5% significance level, the critical t = 2.145

Therefore, given that the absolute value of the test statistic is less than the critical 't', we fail to reject the null hypothesis and it can be concluded that at 5% significance level that chain A pays the same as chain B for the job under consideration

Help this is due today

Answers

I already study this so it is B. SAS
Answer C. SAS


Explanation

What is 4 x 1/3 I don’t understand because I was using an old method to do this and it isn’t working plz help

Answers

It’s 1 1/3 or 4/3 you simply multiply 4/1*1/3 and multiply 4*1 as the numerator and multiply 1 and 3 as the denominator to get an answer of 4/3

Answer:

4/3 hope this helps

ANSWERRRRR????HELPP PSLSSSSS

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Answer:

its sas side angle side plz mark me branliest

someone please help thanks

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Answer:

Don't take my word for it because I havent dont this in a while but I believe it is the top right

The answer to this question is 1/2

Help help thank you

Answers

Meter is 0.5 and the fraction is I think 1/2

In the figure below, points G, H, and Jall lie on circle I.
H
Which of the following can be concluded from the figure?

Answers

Answer:

3rd option

∠JGH= 1/2∠JIH

Step-by-step explanation:

This is because of the circle theorem that states that angle at center is equal to two times the equal at circumference

Find z. Just write the number. Answer should be a whole number. PLS HELP DUE IN 10 MINS WILL GIVE BRAINLIST

Answers

Answer:

square root of 338 or 18.38

Step-by-step explanation:

since a² and b² are equal, you would do 13² plus 13² then add those and you end up with 338. then you find the square root of 338 which is 18.38477631, or 18.38

A right triangle is removed from a rectangle to create the shaded region shown below. Find the area of the shaded region. Be sure to include the correct in
your answer

Answers

Answer:

59.5 cm

Step-by-step explanation:

Find the area of the entire rectangle first. Formula is base times height: [tex]9*8[/tex]

=72

Next, find the missing sides by subtracting [tex]8-3[/tex] and [tex]9-4[/tex].  

=5 and 5

Then find the area of the triangle. Formula is base times height divided by 2: [tex]\frac{5*5}{2}[/tex]

=12.5

Then subtract to find only the shaded section: [tex]72-12.5[/tex]

=59.5 cm

Helppppppppppp I have 3 minutes

Answers

Answer:

It definitely is linear, and it is a straight line

Step-by-step explanation:

Try using desmos, it may help

Answer:

A) it is linear and it is a straight line

Step-by-step explanation:

it is a linear equation. It will be straight

y=mx+b is linear

Which statement best describes the values of x and y in the table

Answers

is this 5th grade work?

Answer:

Answer A

Step-by-step explanation:

As the value of x increases by 2 the value of y increases by 4

(10y + 3) - (2y - 2)

Answers

Answer:

8y+5

Step-by-step explanation:

Explain why a variable's coefficient is 1 unless you see another number in front of it.

Answers

when you add variables you have to have something to add so instead of it being x^2 it would be x+x=2x

For adding variables we use the coefficient as 1 if there is no number infront of variable.

What is Expression?

An expression is combination of variables, numbers and operators.

A coefficient is a multiplicative factor in some term of a polynomial, a series, or an expression; it is usually a number, but may be any expression.

Let us consider a algebraic expression

ax+by+z=0

In the given expression a, b are coefficients of x and y respectively.

We use coefficient as one when there is no number before a variable because when we add variables there should be some number before varibales. So we consider 1 as coefficient for those variables which does not have any coefficient.

Hence, for adding variables we use the coefficient as 1 if there is no number infront of variable.

To learn more on Expressions click:

https://brainly.com/question/14083225

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PLEASE HELP
x + 2/3 = 9/10

Answers

Answer:

The answer is x= 7/30

Victor buys four chairs to place around his dining room table. He pays a total of $88. What is the unit
price?

Answers

The unit price is $22.00. This is because if there are four chairs you just take
$88(total)/4(chairs)=22

If l=3, w= 3, and h= 5, what is the volume of this box​

Answers

Answer and Step-by-step explanation:

To find the volume, we multiply the length by the width by the height for a rectangular prism (aka the box).

length = l = 3

width = w = 3

height = h = 5

Now, we multiply each together.

3 × 3 × 5

9 × 5

45

The volume of the box is 45.

#teamtrees #PAW (Plant And Water)

Answer:

the volume of the box would be 45

Step-by-step explanation:

HELP!!!!! WILL GIVE BRANLIEST !!!!!

Answers

Answer:

F = (-2,4); E = (-2,0); D = (2,0)

Step-by-step explanation:

F = 4 points from A, so by a scale factor of 2, it would be 2 times father away from A. The same thing applies for all of the other points; just find how much father A is from a point, then dilate that point by multiplying it by the scale factor, and settling the point closer or father from A.

If 3 inches of rain fell in 5 hours, how much rain fell each hour? *

Answers

Answer:

Step-by-step explanation:

you can divide 5 divided by 3 and your answer will be 0.6

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