Question: A small mobile service provider (MSP) offers four different basic cell phone plans that are sold at a kiosk in a mall. The table

A small mobile service provider (MSP) offers four different basic cell phone plans that are sold at a kiosk in a mall. The table below shows the sale amount for each plan (the upfront cost of each plan) as well as the probability that each plan will sell in a given day. Note that you must complete both parts a. and b. to receive any marks for the remaining parts of this question. a. Complete the missing value in the following table. Do NOT round your answer! Plan Sale Amount (in dollars) Probability of Sale Plan A 136.5 0.23 Plan B 161 Plan C 218 0.11 Plan D 271 0.44 b. What is the expected sale amount for the kiosk on a given day? Answer: $ Do NOT round your answer! c. What is the standard deviation of the sale amount for the kiosk on a given day? Answer: $ Round to at least FIVE decimals if necessary d. The kiosk owner earns a commission of 4.4% of each dollar earned from the sales made in a given day. They also earn a flat amount of 155 dollars per day. What is the expected amount of money the kiosk owner earns in a given day? Answer: $ Round to at least FIVE decimals if necessary

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Please help me the presentation of ACCT 332 (Tax) with topic "S corporation inside and outside basis" Requirement: Your presentation should be structured as a team presentation to your "client" (the...

Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...

2022 Full Year Results Strong sales growth and continued progress against strategy Underlying performance GAAP measures (unaudited) 2022 vs 2021 2022 vs 2021 Full Year Underlying sales growth (USG)...

Describe how price variances create incentives to build inventories.

1. How many Btu of heat must be added to 1200 lb of copper to raise its temperature from 100F to 450F? 2. How many Btu of heat are given off by 500 lb of aluminum when it cools from 650F to 75F? 3....

Which of the following is not part of the operating budget? a. The capital budget b. The cost of goods sold budget c. The production budget d. The direct labor budget e. The selling and...

How did the researcher integrate the results from the mixed methods? If data from different sources yielded conflicting results, how did the researcher address this conflict?

Atlantic Academy is a private school that offers education to children from Kindergarten to Grade 7. The school operates as a not-for-profit entity and oversight of the school is performed by the...

The data for Rhodes Corporation's has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. What is the net...

Pension data for Sam Adams Inc. include the following for the current calendar year Discount rate, 6% Expected return on plan assets, 8% Actual return on plan assets, 7% Service cost, $450,000...

Tommy Lee is recovering from a drug addiction problem. His employer has offered him services to help him with the recovery process. What is this service an example of ? a . an outplacement service b...

Absorption vs. variable costing Reese's Tot Toy Boxes uses variable costing to manage its internal operations. The following data relate to the company's first year of operation, when 30,000 units...

1. Belinda needs $2400 fast. She has the option of borrowing the $2400 for 5 days at an APR of 500% or borrowing the $2400 for 5 days with a fee of $180. She realizes that neither scenario is very...

Section One - IPV4 Network Identifiers and Addresses For the following, indicate what its network identifier is, in binary. When doing so, use the table provided below to convert each octet to...

Question 5 5 pts Roberto invested a total of $10,000, part at 6% and part at 9%. How much did he invest in the LOWER interest account if the total interest earned in one year was $810 ? 1 answer

3. Consider a chemical company that wishes to determine whether a new catalyst, catalyst XA-100, changes the mean hourly yield of its chemical process from the historical process mean of 750 pounds...

Find the image of x = k = const under w = 1/z. Use formulas similar to those in Example 1. y| y = 0 -21 -2 -1 -1, /1 12 T -1 -1 y= -2 x =0

__________ It represents the value of an organizations brand.

__________ Different prices are set for each market.

12-4. Explore the Internet2 weather map at abilene .internet2.edu.