An orthodontist has three financing packages, and each has a different service charge. He estimates that...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
An orthodontist has three financing packages, and each has a different service charge. He estimates that 20% of patients use the first plan which has a S10 finance charge; 10% use the second plan which has a $20 finance charge; and 70% use the third plan which has a $30 finance charge. Complete parts a and b. a) fomd the expected value of the service charge I got = 25 b) find the standard deviation of the service charge An orthodontist has three financing packages, and each has a different service charge. He estimates that 20% of patients use the first plan which has a S10 finance charge; 10% use the second plan which has a $20 finance charge; and 70% use the third plan which has a $30 finance charge. Complete parts a and b. a) fomd the expected value of the service charge I got = 25 b) find the standard deviation of the service charge
Expert Answer:
Answer rating: 100% (QA)
10 of the patients choose plan 1 which has a 10 financial charge ... View the full answer
Related Book For
Business Statistics
ISBN: 978-0321925831
3rd edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
Posted Date:
Students also viewed these accounting questions
-
An orthodontist has three financing packages, and each has a different service charge. He estimates that 30% of patients use the first plan, which has a $10 finance charge; 50% use the second plan,...
-
Three different plans for financing a $10,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount,...
-
Three different plans for financing a $200,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount,...
-
Download a copy of the ACFE Compensation Guide for Anti-fraud Professionals, which is available at no charge at: www.acfe.com/documents/2008-comp-guide.pdf. Based on this resource, answer the...
-
During 2014, Jolleff Network,Inc., which designs network servers, earned revenues of $860 million. Expenses totaled $610 million. Jolleff collected all but $25 million of the revenues and paid...
-
Assume that the five-year spot rate is 10 percent. a. If the forward rate over the sixth year is currently at 7.5 percent, what is the six-year spot rate? b. If the forward rate over the fifth year...
-
Which of the following items would be most useful in analyzing the separation of duties and functions in an application system? (a) document flowchart (b) program flowchart (c) HIPO chart (d) source...
-
Clayton Industries has gathered the following information about the actual sales revenues and expenses for its pharmaceuticals segment for the most recent year (all data is in millions)....
-
Compute the partial correlation coefficient for the relationship between turnout (Y) and negative advertising (X) while controlling for the effect of unemployment rate (Z). What effect does this...
-
Palmer, a U.S. company, acquired 90% of Scalas voting stock for $32,600 in cash on January 1, 2019, when Scalas book value was $5,000. The fair value of the noncontrolling interest at the date of...
-
Given the following truth table, where Y = f(A, B, C, D) (Decimal value of A BCD Y ABCD) 0 0 0 0 0 0 1 0 0 0 1 0 2 0 0 1 0 0 3 4 00 11 010 0 0 1 5 0 10 1 0 6 0 1 1 0 1 7 0 11 1 0 8 10 00 0 9 1 001 1...
-
What approaches would you use to estimate the value of brands? What assumptions underlie these approaches? As a financial analyst, what would you use to assess whether the brand value of 8.3 billion...
-
Some argue that (1) because estimating the value of contingent claims (such as executive stock options) is surrounded with uncertainty and (2) the claims do not represent a cash outlay, the value of...
-
If you receive two job offers at once, you can probably (get, land, negotiate) a better deal. From the choices in parentheses, select the most precise, vigorous words.
-
As you suggested, we will (question, interrogate, probe) our accountant. From the choices in parentheses, select the most precise, vigorous words.
-
Recently elected to the city council are a lady lawyer, an Indian CPA, and two businessmen. Revise the following sentences to reduce bias (e.g., gender, racial, ethnic, age, and disability).
-
state if the following events are independent or dependent . Give the a reason for your answer a. rolling a 5 and then 3 on six sided dice
-
A statistical study shows that the fraction of television sets of a certain brand that are still in service after x years is given by f (x) = e-0.15x. (a) What fraction of the sets are still in...
-
Suppose you were to collect data for each pair of variables. You want to make a scatterplot. Which variable would you use as the explanatory variable and which as the response variable? Why? What...
-
Write the null and alternative hypotheses to test each of the following situations. a) An online clothing company is concerned about the timeliness of their deliveries. The VP of Operations and...
-
Engineers at a computer production plant tested two methods for accuracy in drilling holes into a PC board. They tested how fast they could set the drilling machine by running 10 boards at each of...
-
Visit the Information Systems Audit and Control Associations (ISACA) Web site (www.isaca.org) to review the COBIT framework (version 4.1). Complete the following matrix to show how the 34 high-level...
-
Taibert Corporation hired an independent computer programmer to develop a simplified payroll application for its newly purchased computer. The programmer developed an online data entry system that...
-
Which of the following is not a reason an internal auditor should participate in internal control reviews during the design of new systems? a. It is more economical to design controls during the...
Study smarter with the SolutionInn App