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

What is the decimal for this grid?
0.04
4.0
0.004

Answers

It’s 4.00 because the are 4 bar filled in out of ten but the must all equal 1

Calculate the insurance costs.
The Greene family obtains bodily injury and property damage automobile insurance in the amount of 50/100/10. The car
that they insure is not driven to work, and no male drivers under twenty-five use the car.
a. What does the Greene family pay as an annual premium?
b. How much would it cost him to purchase insurance in the amount of 100/300/25?
c. What is the difference in cost?

Answers

Answer:

a. What does the Greene family pay as an annual premium? $450.60

b. How much would it cost him to purchase insurance in the amount of 100/300/25? $480.70

c. What is the difference in cost? $30.10

(っ◔◡◔)っ ♥here you go♥

A population grows exponentially at the rate of 1.35%. How long (in years) will it take the population to double?

Answers

Answer: Approximately 51 years.

Step-by-step explanation: A population grows by changing exponentially over time, which can be mathematically demonstrated as:

[tex]P=P_{0}e^{rt}[/tex]

where

P is the population after time

P₀ is initial population, when time = 0

r is a percentage rate of growth

t is time passed

In this case, we have to calculate the amount of time it has passed for a population to double, so [tex]P=2P_{0}[/tex]:

[tex]2P_{0}=P_{0}e^{0.0135t}[/tex]

[tex]e^{0.0135t}=2[/tex]

[tex]ln(e^{0.0135t})=ln2[/tex]

Using Logarithm Rule [tex]ln(e^{k})=k[/tex]:

[tex]0.0135t=0.693[/tex]

t = 51.34

For a population with rate of 1.35%, it will take approximately 51 years to double.

write the equation of the function if its rate of change is -14 and its intial value is 14

Answers

Answer:

[tex]f(x) = -14x + 14[/tex]

Step-by-step explanation:

Given

[tex]Initial\ Value = 14[/tex]

[tex]Rate = -14[/tex]

Required:

Write as a function

Let x be the quantity that changes:

A function is of the form:

[tex]f(x) = mx + b[/tex]

Where

m = slope or rate

b = y intercept or initial value.

So, we can say that:

[tex]m = -14[/tex]

[tex]b = 14[/tex]

Substitute values for b and m in [tex]f(x) = mx + b[/tex]

[tex]f(x) = -14x + 14[/tex]

Type the following fractions in order from greatest to least:

5/4, 4/10, 5/12, ¼, 11/12


Write the decimals in the boxes from greatest to least:

0.5, 0.91, 0.04, 0.89, 0.51

Answers

1/4, 4/10, 5/12, 11/12, 5/4

0.91, 0.89, 0.51, 0.5, 0.04

Answer:

5/4, 11/12, 1/4, 5/12, 4/10        0.91, 0.89, 0.51, 0.5, 0.04

Step-by-step explanation:

Im pretty sure these are correct

2) Find BC
С
67
52
4
B
21
A) 20
C) 20.7
B) 16
D) 18

Answers

Answer:

i got D

Step-by-step explanation:

sin 67 = sin 52

21 BC

BC=17.98

BC=18

What 2 ratio is equivalent to 4/14 HELPPPP ILL GIVE U 15 AND MARK BRAINLIST

Answers

Answer:

4:14  2:7    8:28

Step-by-step explanation:

Use the diagram to find the length. PB is the perpendicular bisector of AC. QC is the perpendicular bisector of BD. AB = BC = CD.
 Given BD = 16 and PC = 10, find PB.
PB =

Answers

Answer:

6 units

Step-by-step explanation:

BC = BD/2 = 8

PB² + 8² = 10²

PB² = 100 - 64 = 36 ⇒ PB = 6 units

The length of PB = 6 units

Here, PB is the perpendicular bisector of AC and QC is the perpendicular bisector of BD.

AB = BC = CD

Given that BD = 16 and PC = 10

What is Pythagoras theorem?

Pythagoras theorem is well known geometric theorem that the sum of the squares on the legs of a right triangle is equal to the square of the hypotenuse.

Here, BD = 16 and AB = BC = CD

⇒ BC = BD/2 = 16/2 = 8

And, PC = 10

Now using Pythagoras theorem:

[tex]PC^{2} =PB^{2} + BC^{2}[/tex]

[tex]10^{2} =PB^{2} + 8^{2}[/tex]

[tex]PB^{2} + 64 = 100\\PB^{2} = 100 - 64\\PB^{2} = 36\\PB = \sqrt{36}\\PB = 6[/tex]

Hence the length of PB = 6 Units

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A company that makes​ hair-care products had 4,000 people try a new shampoo. Of the 4,000 ​people, 24 had a mild allergic reaction. What percent of the people had a mild allergic​ reaction?

Answers

The answer is 0.7%

Hope this helped!

Answer:

0.6%

Step-by-step explanation:

Percentage = 24/4000 *100

=0.6%

At a recent frog jumping contest, the winning frog jumped 21 1/4 feet. The second place frog jumped 20 1/2 feet. How much farther did the first place frog jump?

Answers

the first place frog jumped 1 1/4 more

PLZZ help me with this I will give brilliantis to whoever gets it right

Answers

Answer:

C

Step-by-step explanation:

Which of the following is equivalent to 3/8

0.0025
3.75
25/100
375/1,000

Answers

Answer:

375/1,000

Step-by-step explanation:

3/8=0.375

375/1,000 =0.375

Byron is 2 years younger than Cindy. Eight
years ago, the sum of their ages was 14.
How old is Byron now?​

Answers

Step-by-step explanation:

let age of Byron be b yr old and Cindy be c yr old.

c = b + 2 --(1)

b - 8 + c - 8 = 14

b + c = 30 --(2)

sub (1) into (2):

2b = 28

b = 14

therefore Byron is 14 yr old now.

Topic: simultaneous eqns

If you like to venture further, do check out my insta (learntionary) where I regularly post useful math tips! Thank you!

Answer:

10

Step-by-step explanation:

Byron is 2 yrs younger than Cindy. 8 years ago the sum of their ages was 14.

Byron is 2 years at that time. Definitely, Cindy is 12 years old so the sum of their ages was 14. Let us just add 8 years to Byron's age at that time so 2 + 8 = 10

P.S: This just based on my understanding of the problem.

Instead of having a cake, Ruben wants to make ice cream sundaes at his next birthday party.
He thinks each person will eat 2 cups of ice cream, and there will be 24 people at his party.
How many 1-gallon tubs of ice cream should he buy?
tubs

Answers

Answer:

he should buy 3 gallons

Step-by-step explanation:

There are 16 cups in a gallon, and if each person will eat 2 cups, and there are 24 ppl, multiply 24 by 2 to get the number of cups.

24 x 2 = 48.

Then, divide that by 16 (the number of cups in a gallon) to t how many gallons.

48 ÷ 16 = 3

so, he needs 3 gallons

hope this helped!  

Solve the quadratic equation.

3x^2-12=16x

Answers

Answer:

I think the answer is

x  = 6, -2/3

Step-by-step explanation:

I hope this helps please let me know if it is incorrect

I tried solving this but I accidentally tried figuring out what it would be if it was decreased by 15% instead of increased so now I confused myself an I need help.

Answers

Answer:

120 magazines

Step-by-step explanation:

1.15x = 138

x = 120 magazines before increase

Check:

before increase + increase = sold

120 + 120(.15) = 138

120 + 18 = 138

138 = 138

Nadia is mountain climbing. She started at an altitude of 19.26 feet below sea level and then changed her altitude by climbing a total of 5,437.8 feet up from her initial position. What was Nadia’s altitude at the end of her climb? 3,511.8 feet above sea level 5,245.2 feet above sea level 5,418.54 feet above sea level 5,457.06 feet above sea level

Answers

Answer:

5418.54

Step-by-step explanation:

because yes

HELP PLEASE
The function f(x) = 0.25x + 1.2 represents the weight of a puppy o weeks after it was born. What does the slope of the function represent?
A.The initial weight of the puppy is 1.2 pounds.
B.The initial weight of the puppy is 0.25 pound.
C.The puppy gains approximately 1.2 pounds each week.
D.The puppy gains approximately 0.25 pound each week.

Answers

D.The puppy gains approximately 0.25 pound each week.

x = no. of weeks in f(x) = 0.25x + 1.2

Answer:

a

Step-by-step explanation:

HELP ME PLEASE Find the slope of the line and write it as a rate of change.

Answers

A slope is also known as the gradient of a line. The rate of change is $0.13/ mile.

What is Slope?

A slope also known as the gradient of a line is a number that helps to know both the direction and the steepness of the line.

slope = (y₂-y₁)/(x₂-x₁)

Given two of the points on the line of the function (7000, 900) and (20000, 2600). Now, The rate of change for the given function is the slope of the line as shown in the graph. Therefore, the rate of change will be,

Rate of change = ($2600 - $900)/(20,000 miles - 7,000 miles)

                         = 1700 / 13000

                         = $0.13/ mile

Hence, the rate of change is $0.13/ mile.

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What is 5x(12.28) +30/2

Answers

Answer:

its 61.4x+15

Step-by-step explanation:

1680x+15 is the answer because it is and I’m a genius have a great day

Simplify 7x(2-x)+x^3+2(x^2-6x)

Answers

The answer fam is........x^3 - 5x^2 + 2x

What is on way feudal japan was different than feudal Europe???? Not mathematics it is history.

Answers

Maybe the 3rd one...

The formula for the volume of the sphere = 4(pi) 13. Which of the following is the closest approximation to the volume when r, the
radius, is 11 inches?

Answers

Answer:

5572.5 or 5573 inches

Step-by-step explanation:

First of all, the formula is 4/3(pi)r^3

So 4/3(3.14)11^3

So then 5572.5 or 5573 inches

Use the figures below. What is the ratio of AD to JM?
A.2/3
B.6/5
C.3/2​

Answers

The answer is C. 3/2

Please please help me please it’s due today at 6:50pm please please help me please will mark the brainiest please please help me please

Answers

Answer:

6. nebula

7. a white dwarf star

Nicole bought a meal in a town with a 9% sales tax. She tips 20% on the bill, and then adds the sales tax. What is the total cost of the meal if she orders a $15 menu item.

Please submit a paragraph response, following the RACE method, to explain how to find the cost of Nicole’s meal.

Answers

Answer:

The total cost of the meal is $19.35.

Step-by-step explanation:

As Nicole ordered a $ 15 menu, and on that price she paid a tip of 20% and the town in which she bought it had a sales tax of 9%, the total cost of the meal is determined by performing the following calculation:

1- Menu $ 15

2- Tip $ 3 (15 x 0.2)

3- Sales tax $ 1.35 (15 x 0.09)

Thus, adding the three expenses, the total cost of the food for Nicole is $ 19.35 (15 + 3 + 1.35).

on the first day of camp, Sara hiked 20 miles in 5 hours. At this rate how long would it take Sara to hike 12 miles?

Answers

Answer:

3 hours

Step-by-step explanation:

20 ÷ 5 = 4 mph

12 ÷ 4 = 3 hours

hope this explanation makes sense! :)

Sara took 3 hours to hike 12 miles if, on the first day of camp, Sara hiked 20 miles in 5 hours and the rate is 4 miles per hour.

What is a fraction?

Fraction number consists of two parts, one is the top of the fraction number which is called the numerator and the second is the bottom of the fraction number which is called the denominator.

It is given that:

On the first day of camp, Sara hiked 20 miles in 5 hours.

The rate = 20/5 = 4 miles per hour

Let x be the time taken by Sara to hike 12 miles

As its rate of speed of Sara is 4 miles per hour

x = 12/4

The arithmetic operation can be defined as the operation in which we do the addition of numbers, subtraction, multiplication, and division.

x = 3 hours

Thus, Sara took 3 hours to hike 12 miles if, on the first day of camp, Sara hiked 20 miles in 5 hours and the rate is 4 miles per hour.

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In how many ways can you arrange the books A, B, C, and D on a bookshelf if books A and C must remain neighboring?

Answers

i believe the answer is 4

Will spent $3.75 for 5 1/2 pounds of granola. What is his unit rate in dollars per pound to the nearest cent?

Answers

Answer:

Unitary cost (per pound)= $0.682

Step-by-step explanation:

Giving the following information:

Total cost= $3.75

Total pounds= 5.5 pounds

To calculate the unitary cost of each pound, we need to use the following formula:

Unitary cost= total cost / total pounds

Unitary cost per pound= 3.75 / 5.5

Unitary cost per pound= $0.682

An item that originally cost $12 is discounted 30%. What is the price of the item after the discount? Please give explanation or show work

Thank you

Please try to answer quickly thanks!

Reward is 16 Brainly points ;)

Answers

Answer: $8.4

Step-by-step explanation:

To find 30% of 12 first, we move the decimal point to the left two times. Now we have .3 next multiply it by twelve. (3.6) This number is 30% of 12. Lastly, subtract 3.6 from 12 to get your answer.

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