Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $3640. The total number of units sold is a normally distributed random variable with a mean of 400 and a variance of 900 X-N(400, 900). The selling price per unit is $12. The total number of units produced is a normally distributed random variable with a mean of 300 and a variance of 900 Y-N300, 900). The variable production cost is $4 per unit Production and sales have a positive correlation of 0.50 CLOD What is the probability that the contribution margin for the product line exceeds the fixed cost of $36407 Cype an integer or decimal rounded to four decimal places as needed)

You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $3640. The total number of units sold is a normally distributed random variable with a mean of 400 and a variance of 900 X-N(400, 900). The selling price per unit is $12. The total number of units produced is a normally distributed random variable with a mean of 300 and a variance of 900 Y-N300, 900). The variable production cost is $4 per unit Production and sales have a positive correlation of 0.50 CLOD What is the probability that the contribution margin for the product line exceeds the fixed cost of $36407 Cype an integer or decimal rounded to four decimal places as needed)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question

B1.

Advance maths 

You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $3640. The total number of units sold is a normally distributed random variable with a mean of 400 and a variance of 900 X-N(400, 900). The selling price per unit is $12. The total number of units produced is a normally distributed random variable with a mean of 300 and a variance of 900 Y-N(300, 900). The variable production cost is $4 per unit. Production and sales have a positive correlation of 0.50. -COD- What is the probability that the contribution margin for the product line exceeds the fixed cost of $36407 (Type an integer or decimal rounded to four decimal places as needed)
Transcribed Image Text:You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $3640. The total number of units sold is a normally distributed random variable with a mean of 400 and a variance of 900 X-N(400, 900). The selling price per unit is $12. The total number of units produced is a normally distributed random variable with a mean of 300 and a variance of 900 Y-N(300, 900). The variable production cost is $4 per unit. Production and sales have a positive correlation of 0.50. -COD- What is the probability that the contribution margin for the product line exceeds the fixed cost of $36407 (Type an integer or decimal rounded to four decimal places as needed)
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS