A small software company will bid on a major contract. It anticipates a profit of $50,000 if

Question:

A small software company will bid on a major contract. It anticipates a profit of $50,000 if it gets it, but thinks there is only a 30% chance of that happening.
a) What’s the expected profit?
b) Find the standard deviation for the profit.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

See More Books

Question Posted: May 14, 2015 06:52 AM

See More Questions

On January 1, 2012, Ted purchased a small software company for $200,000. He paid $95,000 for the fixed assets of the company and $105,000 for goodwill. How much amortization may Ted deduct on his...
A small software company bids on two contracts and knows it can only get one of them. It anticipates a profit of $50,000 if it gets the larger contract and a profit of $20,000 on the smaller...
George and KC have been working jobs that pay $20,000 and $30,000/year, respectively. They are trying to decide whether to quit their jobs and jointly open up a taco stand on the beach, which they...
Voguish Couches is a small company which makes sofas. The company is owned by the couple Lennox and Stewart. You are an intern working at Voguish Couches. For the sake of simplicity, this assignment...
Using the data in Table 6-2, how has the composition of assets of U.S. life insurance companies changed over time?
Ready Company has two operating production departments Assembly and Painting Assembly has 210 employees and occuples 52 800 square feet Painting has 90 employees and occuples 35,200 square feet....
Calculating the Monthly Housing Payment. Ben and Carla Manchester plan to buy a condominium. They will obtain a $150,000, 30-year mortgage at 6 percent. Their annual property taxes are expected to be...
State whether or not a trust is created in each of the following situations: (a) A declares herself trustee of the bulk of my securities in trust for B. (b) A, the owner of Blackacre, purports to...
As sales manager, Joe Batista was given the following static budget report for selling expenses in the Clothing Department of Soria Company for the month of October. SORIA COMPANY Clothing Department...
Suppose 3 control limits are constructed for the average temperature in a furnace. Sample of size 4 were selected with the average temperature being 5000C and a standard deviation of 50C. (a) Find...
The probability model below describes the number of repair calls that an appliance repair shop may receive during an hour. a) How many calls should the shop expect per hour? b) What is the standard...
A commuter must pass through five traffic lights on her way to work and will have to stop at each one that is red. After keeping a record for several months, she developed the following probability...
Refer to the data in Exercises 8-31 and 8-33. Compute the cost of goods transferred out and the ending inventory using the FIFO method. Data From Exercise 8-31: The Matsui Lubricants plant uses the...
Consider the following C functions and assembly code: int fun4 (int *ap, int *bp) ( int a = *ap; int bbp; return a+b; }) pushl ebp movl esp, ebp int fun5 (int *ap, int *bp) { int bbp; *bp + *ap;...
The position of a particle moving along the x-axis is given by x(t) = = 4.2 2.5t m. (Assume t is in seconds.) (a) At what time (in s) does the particle cross the origin? 1.68 S (b) What is the...
2. Boxes A and B are being pulled to the right by a rope attached to box B. Box A sits on top of box B, and both boxes accelerate together to the right at a rate of 1.75 m/s. The masses and...
You bought a 15-kilogram sack of unshelled peanuts for your restaurant. You weigh the sack three times on a balance, with the following results: Trial Mass (kg) 1 15.02 2 15.49 3 15.91 The results...
Two hikers leave the same tent at a campground and go separate ways. One hiker walks 8 miles directly south to Ashville, and the other hiker walks 14 miles directly northwest (i.e., N45W) to...
Green, CPA, has been engaged to audit the financial statements of Star Manufacturing, Inc., a medium-size entity that produces a wide variety of household goods. All acquisitions of materials are...
U.S. households have become smaller over the years. The following table from the 2010 GSS contains information on the number of people currently aged 18 years or older living in a respondent's...
For oil $\left(S G=0.86, \mu=0.025 \mathrm{Ns} / \mathrm{m}^{2} ight.$ ) flow of $0.2 \mathrm{~m}^{3} / \mathrm{s}$ through a round pipe with diameter of $500 \mathrm{~mm}$, determine the...
Virginia Semiconductor is a leading manufacturer of prime silicon substrates. The company, situated in Fredericksburg, Virginia, was founded in 1978 by Dr. Thomas G. Digges and his brother, Robert....
Use the following data to develop a quadratic model to predict y from x. Develop a simple regression model from the data and compare the results of the two models. Does the quadratic model seem to...
Develop a multiple regression model of the form y = b0bx1 using the following data to predict y from x. From a scatter plot and Tukeys ladder of transformation, explore ways to recode the data and...
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...

A small software company will bid on a major contract. It anticipates a profit of $50,000 if

Question:

Step by Step Answer:

a Expected profit 030 5000...View the full answer

Business Statistics

Students also viewed these Statistics questions