Suppose the owner of a local apple orchard has 4 half-bushels of apples to sell. He loads them on his truck, and drives his route, stopping at stores along the way attempting to sells the apples. Suppose:

- Each half-bushel is sold for $40.

- It will cost $15 of gas to drive the route.

Historically, the orchard owner knows he will have a 40% chance of making no sales, a 30% chance of selling 1 half-bushel, a 10% chance of selling 2 half-bushels, and a 10% chance of selling 3 half-bushels.

(a) Calculate the orchard owner’s expected profit from driving the route.

(b) Calculate the standard deviation of the profit from driving the route.

Answers

Answer 1

Answer:

a) The orchard owner's expected profit from driving the route is $33.

b) The standard deviation of the profit is $27.28

Step-by-step explanation:

a) Data and Calculations:

Apples to sell = 4 half-bushels

Price of each half-bushel sold = $40

Sales revenue = $160 ($40 *4)

Cost of driving the route = $15

Expected values:

Event                          Probability  Revenue       Profit         Expected  Profit

No Sales                        40%            $0         ($15) ($0 - $15)        ($6.00)

Selling 1 half-bushel      30%         $40         $25 ($40 - $15)         $7.50

Selling 2 half-bushels   10%          $80         $65 ($80 - $15)        $6.50

Selling 3 half-bushels   10%         $120       $105 ($120 - $15)     $10.50

Selling 4 half-bushels   10%         $160       $145 ($160 - $15)     $14.50

Total expected profit = $33

Event                          Expected  Profit  Mean        Squared

                                                                       Difference

No Sales                            ($6.00)        -39             1,521

Selling 1 half-bushel           $7.50         -25.5           650.25

Selling 2 half-bushels        $6.50         -26.5           702.25

Selling 3 half-bushels      $10.50         -22.50         506.25

Selling 4 half-bushels      $14.50         -18.50          342.25

Sum of squared differences                                     3,722

Mean of squared differences = 744.4 (3,722/5)

Standard deviation = square root of the mean

= 27.28

= $27.28


Related Questions

At Nivea's Newsstand, 6 magazines cost $12.00. How many magazines could you buy with $16.00?

Answers

Answer:

You could by 8 magazines

Step-by-step explanation:

First, set up the equation 6/12=x/16

cross multiple to get 12x=96

divide both sides by 12 and x = 8

This is a fun, but simple unit rate problem! We are solving for x.

Divide 12 by 6 (cost is usually always first when dividing for unit rate). You’ll get 2.

That means, for every one magazine, it’s 2 dollars.

Now, divide 2 by 16.
Your answer should be 8!

You can purchase 8 magazines for $16 dollars!


46% of the students that were surveyed like to eat at McDonald's if 351 students do not like to eat at McDonald's how many people were surveyed

Answers

Answer:650 people were surveyed

SOMEONE PLS HELP I WILL MARK BRAINLIEST

Answers

Answer:

Trina is closer to the ocean because she is only 85.6 meters away from the surface, while Jessie is 87.9 meters away. 85.6 is less than 87.9, which means that Trina is closer.

Step-by-step explanation:

Sea level is represented by the number 0. -85.6 is closer to the number 0 than 87.9 is, which tells us that Trina is closer.

Hope this helps :)

1+1 i just need to get this to 20 character
+75 points if you get this right

Answers

Answer:

2 is the correct answer

Answer:

2 is the answer djeidiejdieoeoododos


y = -4x – 5
y = 3.x – 2
Is (3, 7) a solution of the system?

Answers

Answer:

no

Step-by-step explanation:

this is because

-12-5=-17

-28-2= -30

Nebi has already typed 250 words. He then starts a timer and finds that he types 150 words in 3 minutes. If nebi types at a constant rate, write a linear equation to represent the number of words w that nebi types m minutes after starting the timer

Answers

Answer:

[tex]w=250+50m[/tex]

Step-by-step explanation:

Number words Nebi has typed = 250

t = Duration of typing = 3 minutes

Number of words typed in 3 minutes = 150

Rate of typing in 3 minutes

[tex]\dfrac{150}{3}=50\ \text{words/minute}[/tex]

So the linear equation representing the situation would be

[tex]w=250+50m[/tex]

Where

w = Number of words

m = Number of minutes after starting the timer

The linear equation to represent the number of words w that nebi types m minutes after starting the timer is w = 250 + 50m

Given:

Words already typed = 250 words.

Words typed in 3 minutes = 150 words

Words typed per minute = 150 words / 3 minutes

= 50 words per minute

w = Total words typed

m = number of minutes

The equation:

Total words typed = Words already typed + (Words typed per minute × number of minutes )

w = 250 + (50 × m)

w = 250 + 50m

Therefore, linear equation to represent the number of words w that nebi types m minutes after starting the timer is w = 250 + 50m

Read more:

https://brainly.com/question/16450098

Four friends are going to split the cost of a pizza. If p stands for the cost of the pizza, which of the following expressions could represent what each friend will pay?

4p
p-4
p/4
p​

Answers

Answer:

p/4

Step-by-step explanation:

It is that because we are splitting, which is division.

So, P is the cost and 4 is how many

Simply, p/4

hope it helped!  

Answer:

p/4

Step-by-step explanation:

This is right on oddy, hope it helps!

Five juniors and four seniors have applied for two open student council positions. School administrators have decided to pick the two new members randomly. What is the probability that one junior and one senior are chosen for the two positions?a. 0.395 b. 0.444 c. 0.506 d. 0569 e. 0.722

Answers

Answer:

The probability that one junior and one senior are chosen for the two positions is 0.556.

Step-by-step explanation:

The information provided is as follows:

Five juniors and four seniors have applied for two open student council positions. School administrators have decided to pick the two new members randomly.

There are a total of 9 students who applied for the two open student council positions.

The total number of ways to select two students from 9 is: [tex]{9\choose 2}=\frac{9!}{(9-2)!}=36[/tex]

Compute the probability that one junior and one senior are chosen for the two positions as follows:

[tex]P(\text{1 Junior and 1 Senior})=\frac{5\times 4}{36}=0.556[/tex]

Thus, the probability that one junior and one senior are chosen for the two positions is 0.556.

A preschool class has 9 girls and 11 boys in
the class. What percent of the class are
girls?

Answers

Answer:

45%

Step-by-step explanation:

Add 9 and 11 to see how many students there are in all. The answer to this is 20.Divide 9 by 20. You get .45, which is equal to 45%.

A gardener makes a flower bed the bed is 14 in diameter calculate the circumference

Answers

Answer:

[tex]C=43.96[/tex]

Step-by-step explanation:

Circumference Formula:

C=2πr

The radius is half of the diameter...

[tex]14/2=7[/tex]

Pi is [tex]3.14[/tex]...

[tex]C=2*3.14*7[/tex]

[tex]C=43.96[/tex]

Please help me as fast as you can please

Answers

Answer:

A B and D

Step-by-step explanation:

answers A B and E are correct because you started with 4500

Pretty please help me!!!!!
What is the absolute value of the number indicated on the number line?

A. -1 3/7
B. 1 1/3
C. -1 1/3
D. 1 3/7

Answers

Answer:

1 and 1/3

Step-by-step explanation:

The absolute value means that you have a positive sign no matter what the value is. It is the distance in units from 0 on the number line to the point in question.

The number line is laid out in 1/6. Each tick is 1/6. Since the point is at 1 and 2/6, we have to reduce the fraction.  In 2/6 you can divide the bottom and top by 2 to reduce the fraction.

2 divided by 2 = 1

6 divided by 2 = 3

Therefore the 2/6 reduces to 1/3

You already know you had a 1, so you add 1/3 and it is 1 1/3.

what is an equation for the translation of y=|x| left 7 units?

Answers

Answer:

y=|x+7|

Step-by-step explanation:

to move an absolute value equation to the left, all you have to do is add 7 to the inside of the absolute value:

y=|x+7|

We can check that this works, because the x-intercept moved from (0, 0) to (0, -7), meaning that the whole graph got translated 7 units to the left.

HELP!!


Given f(x)= x^2 -3 and g(x)= x+2/x , find (g-f)(4). Show all work.

Answers

Answer:

-8.5

Step-by-step explanation:

Given

f(x)= x^2 -3 and g(x)= x+2/x

To find

(g-f)(4)

Solution

(g-f)(4) = g(4) - f(4) =4+2/4 - (4² -3) =4 + 0.5 - 16 + 3 =-8.5

A line passes through the point (2, -7) and has a slope of
21

Answers

21x-y-49=0 is the equation

Maria needs to be at the airport terminal at 15:20. It will take 2 hours to
drive to the airport from her home, and a further 30 minutes to park and get
to the terminal.
What is the latest time she should leave home?
Give
your answer as a time in the 24-hour clock.

Answers

Answer:

12:50

Step-by-step explanation:

15:20 - 2h= 13:20

13:20-30 min= 12:50

Answer:

12:50

Step-by-step explanation:

If it takes 2 hours to get there, you subtract 2 hours from 15:20 which gives you 13:20. It also says that she needs 30 minutes to park so you subtract that from 13:20 giving you 12:50

for every house there is one and only one street address is it a function

Answers

Answer:

No

Step-by-step explanation:

No, it is not a function it would instead be a constant since the result will always be the same street address regardless of the input that is being given. With a function, a specific input is given to the function which is applied to the function itself, and output is provided based on the results generated from the input. Therefore, with a function, the input determines the output which is almost always different when different inputs get provided.

Please help me with this

Answers

Answer:

$62.50

Step-by-step explanation: 250 divided by 4 equals $62.10

Julie is trying to choose between two packs of cookies. Pack A has 36 cookies for $5.90. Pack B has 24 cookies for $4.10. Which pack has cheaper cookies

Answers

Answer:

b

Step-by-step explanation:

plz help me
is 7/3 less than 6 ​

Answers

Answer:

yes

Step-by-step explanation:

I figured this out by determining how many times 3 fits into 7.

7/3 is equal to 2 and 1/3

2 1/3 < 6

Hope this helps <3

please give brainliest

On a construction project, you estimate a total of 80 hours of labor. You will work 40 of the hours . Assistant A will work 25hours and assistant B will work the remaining hours . You earn $22 per hour. Assistant A $15 per hour . assistant B earns

Answers

Answer: assistant A earned a total of $550, assistant earned a total of $225 so in a total they earn a total of $775.

Why can prime number be a multiple of any other number except itself

Answers

Answer:

the factors of prime numbers are only 1 and itself

Answer:

A factor number can only be divided by itself or 1 meaning it cant be a factor anything more than that.

Step-by-step explanation:

What is the amount earned by a car salesman if he sold a truck for $37.500 at a 2% commission? 15​

Answers

they’re totally correct !! ^

In San Diego, the weather was sunny 90% of the says this past June. How many days was it sunny​

Answers

Answer:

27 days

Step-by-step explanation:

June has 30 days, So our equation looks like this:

30*0.9=27 days.


What is 52% of 230?

Answers

Answer:

4

Step-by-step explanation:

Answer:

119.6

Step-by-step explanation:

52 × 230  over 100 = 119.6

You have found the following ages in years of 4 gorillas at your local zoo. What is the average age of the gorillas at your zoo? What is the variance? 7, 10, 15,21

Answers

Answer:

your answer is 7

Step-by-step explanation:

i may be wrong but i think that is the correct answer oh and Have a good thanksgiving everyone

Answer:

13.3 and 28.2 years

Step-by-step explanation:

from Khan academy

If 200 men can make a road 5 km long in 25 days ,how much overtime per day must 60 men can work to finish an road 2 km in 32 days , 12 hours being a day's work ?​

Answers

Answer:

Solution with step by step explanation is the image attached below

simplify 6³÷2³×9^-2​

Answers

answer is

0.33333333333

What is the first thing you do before solving an adding fraction problem
Pls help

Answers

Answer:

The first thing you do is make the denominators equal on both sides.

Step-by-step explanation:

As a example if you have the equation:

[tex]\frac{1}{2}[/tex] + [tex]\frac{2}{5}[/tex] =

you would multiply the denominator by the smallest multiple. I would do 2 * 5= 10

this would make the equation

[tex]\frac{x}{10} + \frac{x}{10} = ...[/tex]

next you have to do the same with the numerator.

so sence you multiplied the [tex]\frac{1}{2}[/tex] by five you will get [tex]\frac{5}{10}[/tex]

same with the other fraction except you multiplied it by two.[tex]\frac{2}{5}[/tex] x 2 = [tex]\frac{4}{10}[/tex]

next you add and simplify if needed

Answer:

3 simple steps

Step-by-step explanation:

1.     Make sure the bottom numbers ( the denominators ) are the same

       IF DIFFERENT find the LCD

2.    Add the top numbers (the numerators )

3.    simplify the fraction if needed

ex:  1/4 +1/4 = 2/4  (bottoms were the same) simplify  1/2

       1/3 + 1/6    LCD of 3 and 6 so make the bottom numbers 6

                         so multiply  1/3 x  2 = 2/6

        now you have 2/6 + 1/6 = 3/6    simplify 1/2

A radio manufacturer believes that the length of life of WPPX model radio is normal with µ=12 years and σ=2.5 years. (a) What percent of the radios will function for more than 16 years? (b) Suppose the company decides to replace 1% of the radios. Find the length of the guarantee period. i.e. find X. (c) What percent of the radios that will fail to satisfy the guarantee period of 10 years? , i.e. less than 10 years? (d) If 10% of the radios will function for more than X years, find X.
Help, please!!

Answers

Answer:

(a) 5.48%

(b) 17.82 years

(c) 21.19%

(d) 15.21 years

Step-by-step explanation:

z = (x-μ)/σ,

where

x is the raw score

μ is the population mean

σ is the population standard deviation.

µ=12 years and σ=2.5 years.

(a) What percent of the radios will function for more than 16 years?

For x = 16

z = 16 - 12/2.5

z = 1.6

Probability value from Z-Table:

P(x<16) = 0.9452

P(x>16) = 1 - P(x<16)

1 - 0.9452

= 0.054799

Converting to percentage = 0.054799 × 100

= 5.4799%

Approximately = 5.48%

(b) Suppose the company decides to replace 1% of the radios. Find the length of the guarantee period. i.e. find X.

find the z score of the 99th percentile = 2.326

Hence:z = (x-μ)/σ

2.326 = x - 12/2.5

Cross Multiply

2.326 × 2.5 = x - 12

5.815 = x - 12

x = 12 + 5.815

x = 17.815

Approximately = 17.82 years

(c) What percent of the radios that will fail to satisfy the guarantee period of 10 years? , i.e. less than 10 years?

When x < 10

Hence,

z = 10 - 12/2.5

z = -0.8

Probability value from Z-Table:

P(x<10) = 0.21186

Converting to percentage

0.21186 × 100

= 21.186%

Approximately = 21.19%

(d) If 10% of the radios will function for more than X years, find X.

The z score would be : 100 - 10%

= 90th percentile z score

We find the z score of the 90th percentile = 1.282

Hence:z = (x-μ)/σ

1.282 = x - 12/2.5

Cross Multiply

1.282 × 2.5 = x - 12

3.205 = x - 12

x = 12 + 3.205

x = 15.205

Approximately = 15.21 years

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