Tutors Answer Your Questions about Finance (FREE)
Question 1042046: A shipment at a department store has 40 alarm clocks. 4 of them are defective. If 6 alarm clocks are removed from the shipment at random, find the probability that four of them are defective.
Which of these is the correct next step
Choices: https://s32.postimg.org/vpurr07yt/choices.png
Click here to see answer by Lillie28(13)   |
Question 1042046: A shipment at a department store has 40 alarm clocks. 4 of them are defective. If 6 alarm clocks are removed from the shipment at random, find the probability that four of them are defective.
Which of these is the correct next step
Choices: https://s32.postimg.org/vpurr07yt/choices.png
Click here to see answer by alyx_v(38)  |
Question 1042145: The revenue equation (in hunderds of millions of dollars) for barley production in a certain country is approximated by Upper R(x)=0.0716x^2 +1.3589x +2.4955 where x is in hundreds of millions of bushels. Find the marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels.
(a) The marginal-revenue equation is Upper R prime left parenthesis x right parenthesisR′(x)equals=
(Round to four decimal places as needed.)
(b) Find the marginal revenue for the production of 500,000,000 bushels.
(Type an integer or decimal rounded to two decimal places as needed.)
(c) Find the marginal revenue for the production of 650,000,000 bushels.
(Type an integer or decimal rounded to two decimal places as needed.)
Click here to see answer by addingup(3677)  |
Question 1042166: A large shipment of watermelons has weights that are normally distributed with a standard deviation of 0.71 kg. The probability that a watermelon weights less than 2.1 kg is 10.2%. The mean shipment to the nearest hundredth of a kg is
Click here to see answer by stanbon(75887) |
Question 1042202: I need help on parts A through C please. Its confusing.
5. 8 people, consisting of four women and four men (four man-woman couples) are going to stand in a line for a dance picture. How many different ways can they…
a) line-up for a picture? ______________________________
b) line-up if they alternate man/woman/man/….OR woman/man/woman…..?______________________
c) line up if all couples stand side-by-side? _____________________________
Click here to see answer by Edwin McCravy(20055)  |
Question 1042209: Tony and Barb decide to buy new living room furniture worth $10,000. They make a down payment of $1000. Barb decides they should pay off what they owe in 30 monthly payments. Find the amount of the monthly payment at 10% add-on interest.
Click here to see answer by jorel555(1290) |
Question 1042212: The information below applies to the day of investment in a mutual fund:
Amount
Invested
Total Fund
Assets
Total Fund
Liabilities
Total Shares
Outstanding
$3700 $761 million $48 million 75 million
Find the net asset value and the number of shares purchased.
Click here to see answer by Aldorozos(172) |
Question 1042291: Your are going to solve a 3-by-3 system of equations. You will be guided through it step-by- step, as this is a bit of an advanced problem.
Equation 1: x + y + z = 2
Equation 2: x + y - z = -2
Equation 3: 2x - y + z = 5
Step 1: Combine equation 1 and 2 to get an equation only in x and y. Call this equation 4.
Step 2: Combine equation 1 and 3 to get another equation only in x and y. Call this equation 5. You will need to slightly modify one of the equations to eliminate z.
Step 3: Now that you have two equations in terms of only x and y ( Equations 4 and 5), use any method of your choice to solve for x and y.
Step 4: Now that you have x and y, solve for z using any of the first three equations.
Click here to see answer by josgarithmetic(39617) |
Question 1042291: Your are going to solve a 3-by-3 system of equations. You will be guided through it step-by- step, as this is a bit of an advanced problem.
Equation 1: x + y + z = 2
Equation 2: x + y - z = -2
Equation 3: 2x - y + z = 5
Step 1: Combine equation 1 and 2 to get an equation only in x and y. Call this equation 4.
Step 2: Combine equation 1 and 3 to get another equation only in x and y. Call this equation 5. You will need to slightly modify one of the equations to eliminate z.
Step 3: Now that you have two equations in terms of only x and y ( Equations 4 and 5), use any method of your choice to solve for x and y.
Step 4: Now that you have x and y, solve for z using any of the first three equations.
Click here to see answer by MathTherapy(10552)  |
Question 1042378: You pay off a debt of $550 by paying 19% of the remaining balance each month. Find a formula that gives the remaining debt D after t months.
D = ___________
My answer was completely wrong. I have no idea how to solve this.
Click here to see answer by Alan3354(69443)  |
Question 1042378: You pay off a debt of $550 by paying 19% of the remaining balance each month. Find a formula that gives the remaining debt D after t months.
D = ___________
My answer was completely wrong. I have no idea how to solve this.
Click here to see answer by josmiceli(19441)  |
Question 1042376: The balance of an investment is decreasing according to the rule
Next year's balance = 0.85 × Current balance.
If the original value of the investment is $600, find an exponential formula that gives the balance B after t years.
B = _____
Sorry, I just cannot get this one right.
Click here to see answer by jim_thompson5910(35256) |
Question 1042379: This exercise illustrates just how fast exponential functions grow in the long term. Suppose you start work for a company at age 25. You are offered two rather unlikely retirement options.
Retirement option 1: When you retire, you will receive $15,000 for each year of service.
Retirement option 2: When you start work, the company deposits $2500 into a savings account that pays a monthly rate of 1.3%. When you retire, the account will be closed and the balance given to you.
How much will you have under the second plan at age 55? (Round your answer to the nearest cent.)
$ 600,000
Incorrect: Your answer is incorrect.
How much will you have under the second plan at age 65? (Round your answer to the nearest cent.)
$ 600,000
Incorrect: Your answer is incorrect.
I was wrong on both. Can someone show me how to solve these with the correct answers.
Click here to see answer by stanbon(75887) |
Question 1042495: A person can run 10 kilometers per hour in 25 minute bursts, then he must slow to 3 kilometers per hour for 5 minutes to regain energy.
Referring to the above scenario, how many kilometers (round to the nearest integer) can this person cover in five hours?
Click here to see answer by Boreal(15235)  |
Question 1042519: Elle's parents invested $5,000 in two different accounts for her college fund. The first account had an interest rate of 5.5% and was compounded monthly. The second account had the same rate but was compounded continuously. After 18 years, what was the value of each account?
Click here to see answer by addingup(3677) |
Question 1042503: A company had 100 employees one year ago. Overall, the number of employees is growing by 10 percent a year; however, exactly 10 percent of the employees leave and are replaced every year.
Referring to the above scenario, how many employees need to be hired during the coming year?
Click here to see answer by addingup(3677) |
Question 1042602: The Scenario: You want to start your own 3-D printing and manufacturing business. Use what you know about shifting functions to plan your business and find a profitable model.
The Project: Use the information provided in the Performance Task to design a product, determine your costs, and estimate your revenue. Then use this information to see if your new 3-D printing business will be profitable.
Identify and Organize Your Information
Product Design
Before you get started, you need to choose a product to build with your 3-D printer.
1. What are you going to make? (Note: The maximum build size is 25 cm by 16 cm by 15 cm — about the size of a small shoe box.)
Operations
How much is it going to cost to make your object? Use the questions below to determine your initial investment and how much it will cost to produce each item.
2. For each expense category – complexity, design, and quality – decide whether your product has high, medium, or low requirements. In the table below, fill in the three boxes that apply to your project with the operational costs associated with those expenses.
Category
Expense
Low
Medium
High
Complexity
3-D printer
Computer and software
Design
Planning and development
Quality
Per-unit cost (materials)
3. What are the total initial start-up costs? (Note: This initial investment cost does not include the cost of producing each item.)
4. How much do the raw materials to produce each item cost?
The cost of running a business is a function of how much it costs to start up the business, plus the ongoing monthly expenses of running the business:
total cost to produce x items = C(x) = initial investment + (cost per item) • x,
where x = number of items produced.
5. Use the formula above to model the cost of operating your business as a function of the number of items produced.
6. Sketch a graph of your cost function.
7. On your graph, sketch the cost function for a company that does not need any initial investment and that has a per-item cost of $1. Use transformations to describe the differences between the slopes and y-intercepts of the two functions.
Sales and Marketing
Part I: Price
Now that you know your costs, you need to determine how much you will charge for your product and how much money you can make.
8. Fill out the following table with the information from the seller. Refer back to your answers to Question #2 to remember what you have chosen for your product's level of complexity, design, and quality.
What is a good starting price for your product?
(unit price)
How many can you expect to sell each week?
(base sales)
How many sales do you gain for every dollar that you lower the price?
(sales rate)
9. Consider the seller’s information. How many items would you expect to sell at different price points? Write each set of answers as a coordinate pair.
Price
(Starting price - $1) = ___________
Starting price = ___________
(Starting price + $1) = ___________
Number of items sold each week
(price, number of items)
10. What type of function represents the relationship between price and number of items sold?
11. Find the equation of the line where x = price and y = number of items sold. Write your answer in slope-intercept form.
12. Sketch the graph of your price function below:
13. What is the parent function of your price equation? Explain what transformations you would use to change the parent function into your price equation.
14. Look at the graph of the price equation. At what price will you sell the most items? Do you want to use this price or not?
Part II: Revenue
15. A product's price is the amount of money you get from selling one of the item. Revenue is the total amount of money from all the items you sell. The formula for one week of revenue is given below. Use your answers from question 8 to write an equation for the revenue of your business, where x = the change in price (in dollars).
Revenue = (unit price)(number of units sold)
Revenue = (unit price + change in price)(base sales - sales rate • change in price)
16. Use any method to determine the roots and vertex of R(x), and then sketch the graph of your revenue equation below. Calculators and other graphing tools are acceptable.
17. What is the parent function for R(x)?
18. What shape does R(x) have?
19. Look at the graph. How was the revenue equation transformed from the parent function? Fill out the table.
Transformation
Yes or no?
By how many units?
By which arithmetic operation?
Reflected?
Which axis?
Shifted vertically?
Up or down?
Shifted horizontally?
Left or right?
Compressed or stretched? (Which?)
20. What price gives you the maximum revenue? Explain your reasoning.
21. If the above graph gives you the revenue per week, what is the maximum revenue you can expect for the first year? (There are 52 weeks in a year, and you should assume the same revenue each week.)
Your Business Plan: Putting things together
Now it's time to see how profitable your business really is!
22. What was your optimum price point (question 20)?
23. How many items will you sell per week at your optimum price point (question 11)?
24. How many items will you sell per year at your optimum price point?
25. How much will it cost for you to produce all the items in the first year? Use the cost formula from question 5 to determine this.
26. What is the expected revenue for the first year (question 21)? (
27. What is your estimated profit for the first year?
Use this formula: profit = revenue – expenses.
28. Did your business make a profit? Explain.
29. You can make your business more profitable by increasing revenue (money coming in) or decreasing cost (money going out). What could you change about your object to increase profits? Explain how this change would affect either your cost graph or your revenue graph.
30. Does buying a 3-D printer seem like a profitable business for you? Why or why not?
Click here to see answer by ikleyn(52781)  |
Question 1042449: Josh will use Primary Care Physicians and retail network pharmacies for their medical care needs. He will also use brand-name prescriptions only when there are no generic equivalents available. Josh is generally healthy except for the occasional injury, and Josh Greenfield is a non-smoker. Last year (which was a representative year) Josh had a general physical ($300) and went to the doctor 3 times for minor ailments ($75 per visit). Josh Greenfield also went to the emergency room once for a sprained ankle ($450). Josh had X-rays ($250) but did not have to stay overnight. During the year, Josh had 8 prescriptions filled (at an average cost of $30 per prescription); all of the prescriptions were generic. Josh feels that this medical history is a good indicator of the upcoming year. How much would Josh have to pay out-of -pocket for covered expenses for the current plan? Is that number greater than his current budget? Assume he has not met the deductible for the calendar year. (Note: you need to show the amount Josh pay on each expense)
Benefit Description Member’s Copayment
Physicians and Lab Services
Physician Office Visit Primary Care Physician $30
Specialist Office Visit $40
Routine physicals-One per plan year for adults; periodic for children, or as
directed by the primary care physician $30 or $40
Diagnostic x-rays, mammography, and lab tests No copayment
Family planning $40
Vasectomy & tubal ligation No copayment
Infertility benefits 50%
Hospital Services
Inpatient hospital-Semi-private room & board or intensive care units
$100 per day copayment per admission, 5 day max. $1500 max. per person per year
Outpatient day surgery$100
Emergency care - In-area and out-of-area covered at listed copayment. If hospitalized, copayment is waived $100
Urgent care - Includes physician's after-hours care or at an urgent care facility $50
Prescription Drugs
Plan Year Deductible
If a Brand Name medication is dispensed when a Generic is available, member shall be responsible for the Generic Copayment plus the cost difference between the Generic and the Brand Name medication $50
Click here to see answer by ikleyn(52781) |
Question 1042307: A firm's fixed cost is $50,000, the cost of making 10,000 units of its product is $100,000 and the cost of making 20,000 units is $250,000. Find the firm's cost function if it is known to be quadratic.
Click here to see answer by Theo(13342)  |
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