A coffee franchise is opening a new store. The company estimates that there is a 75% chance the store will have a profit of $45,000, a 10% chance the store will break even, and a 15% chance the store will lose $2,500. Determine the expected gain or loss for this store. Calculate the expected value E(x). Expected value is the sum of each event probability times the payoff or loss: E(x) = 0.75(45,000) + 0.1(0) + 0.15(-2,500) <-- Note, break even means no profit and no loss and a loss is denoted with a negative sign E(x) = 33,750 + 0 - 375 E(x) = [B]33,375 gain[/B]

A company had sales of $19,808 million in 1999 and $28,858 million in 2007. Use the Midpoint Formula to estimate the sales in 2003 2003 is the midpoint of 1999 and 2007, so we use our [URL='https://www.mathcelebrity.com/mptnline.php?ept1=19808&empt=&ept2=28858&pl=Calculate+missing+Number+Line+item']midpoint calculator[/URL] to get: [B]24,333[/B] sales in 2003

a machine has a first cost of 13000 an estimated life of 15 years and an estimated salvage value of 1000.what is the book value at the end of 9 years? Using [URL='https://www.mathcelebrity.com/depsl.php?d=&a=13000&s=1000&n=15&t=9&bv=&pl=Calculate']our straight line depreciation calculator[/URL], we get a book value at time 9, B9 of: [B]5,800[/B]

A Math teacher gives one test a week to his class of 31 students. Estimate the number of tests the teacher will mark in 39 weeks. 31 students * 1 test per week * 39 weeks = [B]1,209 tests[/B]

A random sample of 100 light bulbs has a mean lifetime of 3000 hours. Assume that the population standard deviation of the lifetime is 500 hours. Construct a 95% confidence interval estimate of the mean lifetime. [B]2902 < u < 3098[/B] using our [URL='http://www.mathcelebrity.com/normconf.php?n=100&xbar=3000&stdev=500&conf=95&rdig=4&pl=Large+Sample']confidence interval for the mean calculator[/URL]

A toy factory makes 5,000 teddy bears per day. The supervisor randomly selects 10 teddy bears from all 5,000 teddy bears and uses this sample to estimate the mean weight of teddy bears and the sample standard deviation. How many degrees of freedom are there in the estimate of the standard deviation? DF = n - 1 DF = 10 - 1 [B]DF = 9[/B]

A ________ ________ is the value of a statistic that estimates the value of a parameter. [B]Point Estimate[/B]. A point [B]estimate[/B] is a single [B]value[/B] (statistic) used to [B]estimate[/B] a population [B]value[/B]([B]parameter[/B])

Adam, Bethany, and Carla own a painting company. To paint a particular home, Adam estimates it would take him 4 days. Bethany estimates 5.5 days. Carla estimates 6 days. How long would it take them to work together to paint the house. Our combined work function for time (t) using a = Adam's time, b = Bethany's time, and c = Carla's time is: 1/a + 1/b + 1/c = 1/t Plugging in a, b, and c, we get: 1/4 + 1/5.5 + 1/6 = 1/t 0.25 + 0.181818 + 0.1667 = 1/t 1/t = 0.59848 t = [B]1.67089 days[/B]

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Estimate a 15% tip on a dinner bell of $49.76 by first round the bill amount to the nearest $10. Round the bill to the nearest $10 [LIST] [*]$49.76 is in between ($40, $50) [*]1/2 of that interval is (40 + 50)/2 = 90/2 = 45 [*]Since $49.76 is greater than or equal to 45, we round up to $50 [/LIST] Add a 15% tip 50(1 + 0.15) = 50 + 7.50 = [B]$57.50[/B]

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The monthly earnings of a group of business students are are normally distributed with a standard deviation of 545 dollars. A researcher wants to estimate the mean monthly earnings of all business students. Find the sample size needed to have a confidence level of 95% and a margin of error of 128 dollars.

Physiologists often use the forced vital capacity as a way to assess a person's ability to move air in and out of their lungs. A researcher wishes to estimate the forced vital capacity of people suffering from asthma. A random sample of 15 asthmatics yields the following data on forced vital capacity, in liters. 5.2 4.9 2.9 5.3 3.0 4.0 5.2 5.2 3.2 4.7 3.2 3.5 4.8 4.0 5.1 Use the data to obtain a point estimate of the mean forced vital capacity for all asthmatics

Physiologists often use the forced vital capacity as a way to assess a person's ability to move air in and out of their lungs. A researcher wishes to estimate the forced vital capacity of people suffering from asthma. A random sample of 15 asthmatics yields the following data on forced vital capacity, in liters. 5.1 4.9 4.7 3.1 4.3 3.7 3.7 4.3 3.5 5.2 3.2 3.5 4.8 4.0 5.1 Use the data to obtain a 95.44% confidence interval for the mean forced vital capacity for all asthmatics. Assume that ? = 0.7.

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It is estimated that weekly demand for gasoline at new station is normally distributed, with an average of 1,000 and standard deviation of 50 gallons. The station will be supplied with gasoline once a week. What must the capacity of its tank be if the probability that its supply will be exhausted in a week is to be no more than 0.01? 0.01 is the 99th percentile Using our [URL='http://www.mathcelebrity.com/percentile_normal.php?mean=+1000&stdev=50&p=99&pl=Calculate+Percentile']percentile calculator[/URL], we get [B]x = 1116.3[/B]

Jeff Bezos, who owns Amazon, has a net worth of approximately $143.1 billion (as of mid-2018). An employee in the Amazon distribution center earns about $13 an hour. The estimated lifespan of the employee is 71 years. If the employee worked 24 hours a day, every day of the year from the moment of his birth, how many lifespans would it take for him to earn wages equivalent to Jeff Bezos' net worth? Round the answer to the nearest whole number. Calculate earnings per lifespan: Earnings per lifespan = lifespan in years * Annual Earnings Earnings per lifespan = 71 * 13 * 24 * 365 <-- (24 hours per day * 365 days per year) Earnings per lifespan = 8,085,480 Calculate the number of lifespans needed to match Jeff Bezos earnings: Number of lifespans = Jeff Bezos Net Worth / Earnings Per Lifespan Number of lifespans = 143,100,000,000 / 8,085,480 Number of lifespans = [B]17,698.39 ~ 17,699[/B]

Jerry rolls a dice 300 times what is the estimated numbers the dice rolls on 6 Expected Value = Rolls * Probability Since a 6 has a probability of 1/6, we have: Expected Value = 300 * 1/6 Expected Value = [B]50[/B]

Kamille is calculating the length of diagonal on a picture board and gets a solution of the square root of 58. She needs to buy the ribbon to put across the diagonal of the board, so she estimates that she will need at least 60 inches of ribbon to cover the diagonal. Is she correct? Explain. [URL='https://www.mathcelebrity.com/powersq.php?num=sqrt%2858%29&pl=Calculate']The square root of 58 [/URL]has an answer between 7 and 8. So Kamille is [B]incorrect[/B]. She needs much less than 60 inches of ribbon. She needs less than 8 inches of ribbon.

Linda estimates that her business is growing at a rate of 6% per year. Her profits is 2002 were $30,000. To the nearest hundred dollars, estimate her profits for 2011. Calculate the number of years of appreciation: Appreciation years = 2011 - 2002 Appreciation years = 9 So we want 30000 to grow for 9 years at 6%. We [URL='https://www.mathcelebrity.com/apprec-percent.php?num=30000togrowfor9yearsat6%.whatisthevalue&pl=Calculate']type this into our search engine[/URL] and we get: [B]$50,684.37[/B]

Im sorta confused about this question? He has decided to remove all the old sod (grass), bring in a new 4 inch layer of topsoil, install new in-ground sprinklers, and reseed the lawn. He seems to think that he'll be able to save money by hauling loads of topsoil from the store himself in his pickup truck, rather than paying for delivery, but I don't think he's right. You're going to help us settle this. Here is (most of) the information you asked for: [LIST] [*]Is he redoing the whole yard or just the front? He's redoing the whole yard [*]How much topsoil does he need? I'm not sure, you'll have to figure that out. Remember he's putting a new 4 inch layer down over all the area currently covered by grass in the overhead picture above. [*]How big is the yard? I'm not sure, but you can probably estimate it using the overhead picture. [*]What kind of pickup truck does he drive? A 2003 Ford F-150 XL. [*]How much can the pickup carry? The truck bed is 80 inches long, 69 inches wide, and 20 inches tall. [*]How much is the delivery charge? $30 per truckload on top of the soil cost. Each truckload can deliver up to 18 cubic yards. [*]How much does the topsoil cost? $18 per cubic yard (sold in 1/4 yard increments). [*]How far is the soil store? It is 9 miles away. It takes about 20 minutes to drive there. [*]What gas mileage does the pickup truck get? It averages 17 miles to the gallon. [*]What is the current gas cost? Assume it's $3.79/gallon. [/LIST] Using this information, figure out whether my neighbor will save money by picking up the soil himself. Use the results of your calculations to guide your decision: would you recommend that my neighbor pick up the soil himself, or pay for delivery? Detail all your assumptions and calculations, and clearly write out your final conclusions.

Mr turner sent his car to the workshop for repair work as well as to change 4 tires. Mr turner paid $1035 in all. The repair work cost 5 times the price of each tire. The mechanic told Mr. turner that the repair work cost $500. Explain the mechanic’s mistake Let the cost for work be w. Let the cost for each tire be t. We're given; [LIST=1] [*]w = 5t [*]w + 4t = 1035 [/LIST] Substitute equation 1 into equation 2: (5t) + 4t = 1035 [URL='https://www.mathcelebrity.com/1unk.php?num=%285t%29%2B4t%3D1035&pl=Solve']Type this equation into our search engine[/URL], and we get: t = 115 Substitute this into equation (1): w = 5(115) w = [B]575[/B] The mechanic underestimated the work cost.

Out of the 485 Cookies for the bake sale, 2/5 were chocolate chip. Estimate the number of chocolate chips We want 2/5 of 485. We [URL='https://www.mathcelebrity.com/fraction.php?frac1=485&frac2=2/5&pl=Multiply']type this in our search engine[/URL] and we get; [B]194[/B]

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The brand manager for a brand of toothpaste must plan a campaign designed to increase brand recognition. He wants to first determine the percentage of adults who have heard of the bran. How many adults must he survey in order to be 90% confident that his estimate is within seven percentage points of the true population percentage? [IMG]https://ci5.googleusercontent.com/proxy/kc6cjrLvUq64guMaArhfiSR0mOnTrBwB9iFM9u9VaZ5YYn86CSDWXr1FNyqxylwytHdbQ3iYsUDnavt-zvt-OK0=s0-d-e1-ft#http://latex.codecogs.com/gif.latex?%5Chat%20p[/IMG] = 0.5 1 - [IMG]https://ci5.googleusercontent.com/proxy/kc6cjrLvUq64guMaArhfiSR0mOnTrBwB9iFM9u9VaZ5YYn86CSDWXr1FNyqxylwytHdbQ3iYsUDnavt-zvt-OK0=s0-d-e1-ft#http://latex.codecogs.com/gif.latex?%5Chat%20p[/IMG] = 0.5 margin of error (E) = 0.07 At 90% confidence level the t is, alpha = 1 - 90% alpha = 1 - 0.90 alpha = 0.10 alpha / 2 = 0.10 / 2 = 0.05 Zalpha/2 = Z0.05 = 1.645 sample size = n = (Z[IMG]https://ci4.googleusercontent.com/proxy/mwhpkw3aM19oMNA4tbO_0OdMXEHt9juW214BnNpz4kjXubiVJgwolO7CLbmWXXoSVjDPE_T0CGeUxNungBjN=s0-d-e1-ft#http://latex.codecogs.com/gif.latex?%5Calpha[/IMG] / 2 / E )2 * [IMG]https://ci5.googleusercontent.com/proxy/kc6cjrLvUq64guMaArhfiSR0mOnTrBwB9iFM9u9VaZ5YYn86CSDWXr1FNyqxylwytHdbQ3iYsUDnavt-zvt-OK0=s0-d-e1-ft#http://latex.codecogs.com/gif.latex?%5Chat%20p[/IMG] * (1 - [IMG]https://ci5.googleusercontent.com/proxy/kc6cjrLvUq64guMaArhfiSR0mOnTrBwB9iFM9u9VaZ5YYn86CSDWXr1FNyqxylwytHdbQ3iYsUDnavt-zvt-OK0=s0-d-e1-ft#http://latex.codecogs.com/gif.latex?%5Chat%20p[/IMG] ) = (1.645 / 0.07)^2 *0.5*0.5 23.5^2 * 0.5 * 0.5 552.25 * 0.5 * 0.5 = 138.06 [B]sample size = 138[/B] [I]He must survey 138 adults in order to be 90% confident that his estimate is within seven percentage points of the true population percentage.[/I]

The monthly earnings of a group of business students are are normally distributed with a standard deviation of 545 dollars. A researcher wants to estimate the mean monthly earnings of all business students. Find the sample size needed to have a confidence level of 95% and a margin of error of 128 dollars.

The monthly earnings of a group of business students are are normally distributed with a standard deviation of 545 dollars. A researcher wants to estimate the mean monthly earnings of all business students. Find the sample size needed to have a confidence level of 95% and a margin of error of 128 dollars.

The total cost of 100 dresses is $1,500.00. The mark-up is estimated at 20% of the unit cost, the price of a single dress using the cost-plus method will be The phrase [I]unit cost[/I] means price per one unit. [U]Unit cost for one dress is:[/U] Price of dresses / Number of dresses 1500/100 15 Each dress cost $15 which is the unit cost [U]Cost plus method:[/U] Cost plus price = Unit price + Unit price * markup Cost plus price = 15 + 15 * 20% Cost plus price = 15 + 3 Cost plus price = [B]$18 [MEDIA=youtube]H9rOp592y5s[/MEDIA][/B]