Homework assignment for chapter 5: Problems 5.4 (page 177)‚ 5.4 A die is thrown (1‚ 2‚ 3‚ 4‚ 5‚ 6) and a coin is tossed (H‚ T). (a) Enumerate the elementary events in the sample space for the die/coin combination. (b) Are the elementary events equally likely? Explain. A) Elementary events are - DIE COIN 1 2 3 4 5 6 HEADS H1 H2 H3 H4 H5 H6 TAILS T1 T2 T3 T4 T5 T6 B) YES‚ EACH EVENT IS EQUALLY LIKELY TO OCCUR. THERE ARE 12 POSSIBLE OUTCOMES AS A RESULT OF ROLLING OE DIE AND
Premium Probability theory Random variable
Chance and Strategy Portfolio Unit Problem The chance and strategy unit problem was to find a strategy for the game Pig that gives you the most points in the long run. The game of pig is where you roll a die for however many rolls as you want to. Each number you roll gets added to your score‚ the person with the highest score wins. However if you roll a one‚ then all the points you won that turn are lost. Content Probability is any fraction or percent going from 0 to 1. There are two
Premium Probability theory Economics Dice
Week 1 Lab Name_________ Part I - Directions: For the function we are going to estimate the area under the curve using the trapezoidal rule where n = 5 by doing the following: 1. Divide the interval into 5 equal pieces. How long is each piece? This will represent the width of the rectangles we will use to estimate the area in gray above. What will the x-values be for the endpoint of each piece? Width of rectangle = 0.4 .2 .8 1.6 2.4 3.2 2 2. Evaluate f(x) for x1 to x6
Premium Standard deviation Derivative Normal distribution
3101 MSOM 1st in-class Group Assignment (Ch 1 and Mod A) Q1) Lake Charles Seafood makes 450 wooden packing boxes for fresh seafood per day‚ working in two 10-hour shifts. Due to increased demand‚ plant managers have decided to operate three 8-hour shifts per day instead. The plant is now able to produce 650 boxes per day. (2-points) i. Before the change in work rules‚ the company’s productivity = boxes/hour ii. After the change‚ the new productivity level = boxes/hour iii. Based on the changes
Free Expected value Probability theory Random variable
People ---------------------------------------------------------------------------------------------------------------------------- Veterinary- I would choose a veterinary since there is a wild dog there.We could help them if any are hurt. 2. Farmer-A farmer‚ because they can plant‚ are fruit‚ vegetable.They can also help the chef get some of their food. 3.Chef-A chef because of that how people could eat.That is how I will get my meats‚ fruits‚ and vegetables.That is how we will get drinks and
Premium Supply and demand Normal distribution Random variable
| Total Marks: ______ / 100 marks = ________ % Grade: Question I: Identification: Fill in the blanks the correct answer. You are having a dress shop‚ indicate the proper classification of cost behavior whether it is VARIABLE or FIXED for each of the following items below: |Cost Element |Cost Behavior | |Material used to make shirts
Premium Variable cost Costs Management accounting
The Random Acts of Kindness Foundation is an organization dedicated to altruistic pursuits. This organization shows the acts of kindness that people are doing or have done for others; this website also give ideas for others to follow suit with their own pursuits of kindness or altruism. The forms of kindness can simply be prosocial behavior‚ which are actions intended to benefit others (Kassin‚ Fein‚ & Markus‚ 2014‚ p. 394). Furthermore‚ the acts of kindness can be altruistic which is defined as
Premium Random act of kindness Psychology Acts of the Apostles
net income (net profit). 4 Variable Costs Fixed Costs Mixed Costs Cost Estimation Methods Cost Estimation Methods are frequently required to separate the fixed and variable components of a total cost pool. Methods include: 1. 2. 3. 4. 5. Account Analysis Scattergraph High-Low Method Regression Relevant Range Scattergraph High-Low Method Example: Let total costs at 500 units of output be $150‚000 and at 3‚000 units of output be $400‚000. Calculate variable and fixed costs‚ respectively
Premium Variable cost Costs Contribution margin
Exercises 5-11 through 5-18: Summit Manufacturing‚ Inc. produces snow shovels. The selling price per snow shovel is $30. There is no beginning inventory. Costs involved in production are: Direct material $5 Direct labor $4 Variable manufacturing overhead $3 Total variable manufacturing costs per unit $12 Fixed manufacturing overhead cost per year $180‚000 In addition‚ the company has fixed selling and administrative costs of $160‚000 per year. Exercise 5-11. During the year‚ Summit produces
Premium Variable cost Revenue Inventory
Quiz – Chapter 17 – Solution 1. Rider Company sells a single product. The product has a selling price of $40 per unit and variable expenses of $15 per unit. The company’s fixed expenses total $30‚000 per year. The company’s break-even point in terms of total dollar sales is: A) $100‚000. B) $80‚000. C) $60‚000. D) $48‚000. The answer is d. CMR = (P-V)/P = ($40 - $15)/$40 = 62.5% Px = F/ (CMR) Px = $30‚000/.625 = $48‚000 Use the following to answer questions 2-3: Weiss Corporation produces two models
Premium Costs Variable cost Cost