The average cost of repairing an smartphone is $120 with a standard deviation of $10.50. The costs
Question:
The average cost of repairing an smartphone is $120 with a standard deviation of $10.50. The costs are normally distributed. If 15% of the costs are considered excessive, find the cost in dollars that would be considered excessive.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
For 15 cos...View the full answer
Answered By
Saikumar Ramagiri
Financial accounting:- Journal and ledgers, preparation of trail balance and adjusted trail balance Preparation of income statement, retained earning statement and balance sheet Banks reconciliation statements Financial statement analysis Cash flow statement analysis (both direct and indirect methods) All methods of Depreciations Management Accounting:- Ratios Budgeting control Cash budget and production budget Working capital management Receivable management Costing:- Standard and variance costing Marginal costing and decision making Cost-volume-profit analysis Inventory management (LIFO, FIFO) Preparation and estimation of cost sheet Portfolio management:- Calculation of portfolio standard deviation or risk Calculation of portfolio expected returns CAPM, Beta Financial management:- Time value of money Capital budgeting Cost of capital Leverage analysis and capital structure policies Dividend policy Bond value calculations like YTM, current yield etc International finance:- Derivatives Futures and options Swaps and forwards Business problems Finance problems Education (mention all your degrees, year awarded, Institute/University, field(s) of major): Education Qualification Board/Institution/ University Month/Year of Passing % Secured OPTIONALS/ Major ICWAI(inter) ICWAI inter Pursuing Pursuing - M.com(Finance) Osmania University June 2007 65 Finance & Taxation M B A (Finance) Osmania University Dec 2004 66 Finance & Marketing. B.Com Osmania University June 2002 72 Income Tax, Cost & Mgt, Accountancy, Auditing. Intermediate (XII) Board of Intermediate May 1999 58 Mathematics, Accountancy, Economics. S S C (X) S S C Board. May 1997 74 Mathematics, Social Studies, Science. Tutoring experience: • 10 year experience in online trouble shooting problems related to finance/accountancy. • Since 6 Years working with solution inn as a tutor, I have solved thousands of questions, quick and accuracy Skills (optional): Technical Exposure: MS Office, SQL, Tally, Wings, Focus, Programming with C Financial : Portfolio/Financial Management, Ratio Analysis, Capital Budgeting Stock Valuation & Dividend Policy, Bond Valuations Individual Skills : Proactive Nature, Self Motivative, Clear thought process, Quick problem solving skills, flexible to complex situations. Achievements : 1. I have received an Award certificate from Local Area MLA for the cause of getting 100% marks in Accountancy during my Graduation. 2. I have received a GOLD MEDAL/Scholarship from Home Minister in my MBA for being the “Top Rank student “ of management institute. 3. I received numerous complements and extra pay from various students for trouble shooting their online problems. Other interests/Hobbies (optional): ? Web Surfing ? Sports ? Watching Comics, News channels ? Miniature Collection ? Exploring hidden facts ? Solving riddles and puzzles
4.80+
391+ Reviews
552+ Question Solved
Related Book For
Elementary Statistics A Step By Step Approach
ISBN: 9781259755330
10th Edition
Authors: Allan G. Bluman
Question Posted:
Students also viewed these Mathematics questions
-
According to Money, the average cost of repairing a broken leg is $10,402, and the average cost of repairing a knee injury is $11,359.12 Assume that these two statistics are sample averages based on...
-
In problem 8-48, construct a 99% confidence interval for the difference between the average cost of repairing a broken leg and the average cost of repairing an injured knee. Interpret your results....
-
Refer to problem 8-48. Test the null hypothesis that the variance of the cost of repairing a broken leg is equal to the variance of the cost of repairing an injured knee. In problem According to...
-
You accepted a new job with starting salary of $52,000 per year. The salary is expected to increase 4% each year. Now it is time to make a retirement plan for the next 39 years you expect to work....
-
Journalize the following transactions for Inland Empire Supply, Inc., that occurred during the month of March. Mar 3 Purchased $6,500 of merchandise on account, terms 4/10, n/30, FOB shipping point....
-
What variables can management manipulate to improve production process quality? How will these changes improve product quality? LO1
-
As a member of a project team, why does your mere existence in an organization suggest change? AppendixLO1
-
From the perspective of an organization, explain duality as it relates to the give and receive events of an economic exchange.
-
Web Invest Inc. buys and sells domain names with the click of a mouse. The high rate at which domain names change hands, and the difficulty in keeping track of mass automated registrations, have...
-
The City of Monroe maintains a Water and Sewer Fund to provide utility services to its citizens. As of January 1, 2017, the City of Monroe Water and Sewer Fund had the following account balances:...
-
What formula is used to gain information about an individual data value when the variable is normally distributed?
-
The average number of moves a person makes in his or her lifetime is 12. If the standard deviation is 3.2, find the probability that the mean of a sample of 36 people is a. Less than 10 b. Greater...
-
An experiment is conducted with a Joule apparatus (see Fig. 14.2). The hanging objects descend through a distance of 1.25 m each time. After 30 descents, a total of 1.00 kJ has been delivered to the...
-
You will be creating a Performance Improvement Plan to address an employee in the attached case study (see below). This is a scenario you may encounter in your future HR profession, so this...
-
For this prompt, consider your academic goals, including (but not limited to) such topics as how you plan to manage your time to fit in your studies; how you will build your skills, as needed; how...
-
1. An introduction of you as a leader (whether or not you see yourself as a leader, whether or not you like being a leader, what kinds of leadership roles you have had, etc.). 2. Summarize your...
-
Briefly, describe the firm in terms of the following items. a. Size in terms of market capitalization, annual revenue, number of employees, location(s). b. Discuss the financial position of the firm....
-
HealthyLife (HL) is a publicly-traded company in the Food Manufacturing Industry. HealthyLife has been around since the 1970s, and is mainly focused on the production and wholesale of "organic and...
-
Determine the value(s) of h such that the matrix is the augmented matrix of a consistent linear system. 6 -4 -3 h -9
-
Why should you not model a decision variable as a random variable with a probability distribution?
-
The number of teacher strikes over a 13-year period in Pennsylvania is shown. Construct a boxplot for the data. Is the distribution symmetric? 750 0795 2
-
Construct a boxplot for the number (in millions) of visitors who traveled to a foreign country each year for a random selection of years. Comment on the skewness of the distribution. 4.3 0.5 0.6 0.8...
-
Construct a boxplot and comment on its skewness for the number of tornadoes recorded each month in 2005. 33 10 62 132 123 316 138 123 133 18 150 26
-
Show that the convexity for a zero coupon bond with m payments per year is (m) n(n + -)(1+ m m
-
Abdul Canarte , a Central Bank economist, noticed that the total group purchasing basket of goods (CPI) has gone from $149,740.00 to $344,460.00 in 8 years. With monthly compounding, what is the...
-
ABC Corporation expects sales next year to be $50,000,000. Inventory and accounts receivable (combined) will increase $8,000,000 to accommodate this sales level. The company has a profit margin of 6...
Study smarter with the SolutionInn App