Discuss the following:
Q1) a) In a business environment, the fixed cost is $2,000.00 and the variable cost is $20.00. As we know, the brake even volume v and the brake-even price p are related by formula:
V=2000/P-20
The formula describe the relationship between the above two quantities. Solve for P to obtain an expression for the brake-even price in terms of the brake-even volume.
b) In excel, construct two columns; one for the values of v (starting with 10, ending with 200, and increasing in increments of 5 each time)
The other column will contain the corresponding p values according to the formula obtained above. Then construct a scatter line plot of the pair (v, p). Comment on the shape and the behavior of the graph regarding the relationship between v and p.
The following is only a portion of the table. The values shown are accurate.
v p
10 220.00
15 153.33
20 120.00
25 100.00
Now suppose the business mentioned above has aimed to finalize a net profit of $1000.00 start with the formula for the profit Z=(P-Cv)v- Cf; or 1000=(P-20)v-2000b again solve for P to obtain an expression for the price in terms of the volume v.
Q2)According to a recent survey, one out of three divorce results as a consequence of spousal abuse. A random sample of 15 divorce cases is chosen.
a) what is the probability that 6 in the sample have been consequences of spousal abuse?
b) what is the probability that 8 in the sample have been consequences of spousal abuse?
c) what is the probability that 10 in the sample have been consequences of spousal abuse?
d) what is the probability that 7 but less than 12 divorces have been consequences of spousal abuse?
e)construct a tabular and graphical probability distribution for the number of divorces among 15 which has been a consequence of spousal abuse.
f) construct a tabular and graphical cumulative probability distribution for the number of divorces among 15 which has been a consequence of spousal abuse
g) on the average hoe many divorces among 15 do you expect to be the consequence of spousal abuse? (please show calculation)
Q3)The lifetime of a brand of television has a normal distribution with a mean of 7 years and a standard deviation of 1.5 years.
a) What percentage of these television last more than 8 years?
b) What percentage of these televisions last between 5 and 9 years?
c) Find a lifetime such that only 3% of these TVs will last more than this life time.
d) The quality control manager has decided to choose a warranty period that only at most 1% of the time the TVâ??s are covered by the warranty, What should be the warranty period?
The buyer of a 10 acre-forestland will buy the land if at least 10% of its trees are 40 feet or taller. The seller has disclosed that the distribution on the trees is almost normal with a mean of 32 and the standard deviation of 3 feet. Will the buyer buy the land?
Q4) According to a recent health study, 25% of adult males have circulation problem. Males who have circulation problems are twice as likely to be smokers as those who do not have a circulation problem. What percentage of male smokers have circulation problems? What percentage of nonsmokers have circulation problem?