"After settlement the average weekly wage in a factory had increased from $ 8,000 to $ 12,000 and the standard deviation had increased from $ 100 to $ 150. After settlement the wage has become higher and more uniform." Do you agree?
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- The weekly salary paid to employees of a small company that supplies part-time laborers averages s800 with a standard deviation of $500. (a) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than $300 per week. (b) If every employee receives a year-end bonus that adds $100 to the paycheck in the final week, how does this change the normal model for that week? (c) If every employee receives a 5% salary increase for the next year, how does the normal model change? (d) If the lowest salary is $300 and the meltian salary is $550, does a normal model appear appropriate?Tom is a salesman. The following are the details regarding source of his income. Base weekly salary = $350 Sales commission = 12% of price the item sold Average price of items sold = $270 Average weekly number of items sold, E(x) = 30 Standard deviation of number of items sold per week, sd(x) = 6.8 Number of weeks a year Tom works = 48 25 Tom's average annual earnings is ________. a $65,042 b $63,456 c $61,908 d $60,398A project has a 60% chance of doubling your investment in one year and a 40% chance of losing half your money. What is the standard deviation of this investment? A. 25% B. 50% C. 62% D. 73%
- For all parts of this question, assume that the log of GDP per capita is normally distributed with a mean of 8.7 and standard devistion of 1.5Step 1 of 4: If the log of the world distribution of income is normaly distributed with a mean of 8.7 and a standard deviation of 1.5, what income indollars) marks the 90th percentile? KeypadAnswer A 71.325B 1.29C 41,253D 10.63Probability Possible Rate of Return 0.25 -0.10 0.15 0.00 0.35 0.10 0.25 0.25 a. Under what conditions can the standard deviation be used to measure the relative risk of two investments? b. Under what conditions must the coefficient of variation (CoVar) be used to measure the relative risk of two investments?(Ch 7) A large number of MBA applicants are given an aptitude test. Scores are normally distributed with a mean of 460 and standard deviation of 80. Now, we can apply inverse normal to find the top 2.5 percent of the applicants score at least about ____. a. 606 b. 600 c. 617 d. 646
- Assume that the hourly cost to operate a commercial airplane follows the normal distribution with a mean of $4,256 per hour and a standard deviation of $242. Use Appendix B.3. What is the operating cost for the lowest 4% of the airplanes? (Round your z value to 2 decimal places and final answer to the nearest whole dollar Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sureAfter analyzing the costs of various options for obtaining brackets, Ross White (see Problems 6-27 through 6-29) recognizes that although he knows that the lead time is 2 days and the demand per day averages 10 units, the demand during the lead time often varies. Ross has kept very careful records and has determined that lead time demand is normally distributed with a standard deviation of 1.5 units. What Z value would be appropriate for a 98% service level? What safety stock should Ross maintain if he wants a 98% service level? What is the adjusted ROP for the brackets? What is the annual holding cost for the safety stock if the annual holding cost per unit is $1.50?Given: Qd = 800 - 4P Qs = 8P - 400 What is the Arc Elasticity where P = 150 and P = 100?
- 53. The annual demand for Prizdol, a prescription drugmanufactured and marketed by the NuFeel Company,is normally distributed with mean 50,000 and standarddeviation 12,000. Assume that demand during each ofthe next 10 years is an independent random numberfrom this distribution. NuFeel needs to determine howlarge a Prizdol plant to build to maximize its expectedprofit over the next 10 years. If the company builds aplant that can produce x units of Prizdol per year, it willcost $16 for each of these x units. NuFeel will produceonly the amount demanded each year, and each unit ofPrizdol produced will sell for $3.70. Each unit of Prizdol produced incurs a variable production cost of $0.20.It costs $0.40 per year to operate a unit of capacity.a. Among the capacity levels of 30,000, 35,000,40,000, 45,000, 50,000, 55,000, and 60,000 unitsper year, which level maximizes expected profit?Use simulation to answer this question.b. Using the capacity from your answer to part a,NuFeel can be 95%…GeoMart sells travelers notebooks. Annual demand for these notebooks follows a Normal distribution with an average of 2,100 units and a standard deviation of 850. GeoMart buys these notebooks from its manufacturer for $ 1.50 per notebook and sells them for $ 3. There is an order waiting period of 5 weeks, which elapses from when an order is placed to the manufacturer until it is delivered to GeoMart. The accounting department estimated that the process of placing an order costs $ 2 and recommends that it be apply a 22 percent annual interest to the material for reasons of ‘holding cost’. The cost of not complying with the demand is estimated at 40 cents per unit, in addition to the loss of income (‘profit loss’), both then represent the cost of “loss of good faith” or 'Loss-of-goodwill'. (Conversion: 7 days a week, 52 weeks in a year.) Under this scenario answer the following: a) Assume that you want to minimize costs and determine: the optimal order size, the reorder point, the…You are currently a worker earning $60,000 per year but are considering becoming an entrepreneur. You will not switch unless you earn an accounting profit that is on average at least as great as your current Salary. You look into opening a small grocery store. Suppose that the store has annual cost of $150,000 for labor, $60,000 for rent and $30,000 for equipment. There is one-half probability that revenues will be $20,000 and a half probability that revenue will be $420,000 a. In the low revenue Situation, what will your accounting profit or loss be? b. In the high revenue situation, what will your accounting profit or loss be? c. On average, how much do you expect your revenue to be?
