You want a side hustle to supplement your familys income. You live in Pensacola, FL (a great
Question:
You want a side hustle to supplement your family’s income. You live in Pensacola, FL (a great place for side hustles!). You have narrowed your ideas down to the following 3 options:
Washing cars, trucks, boats, etc. (you drive to the customer and bring all supplies, including your own water tank)
Selling homemade popsicles (you make them and sell them from your food truck and at local businesses)
Landscaping (mowing, trimming trees and bushes, replenishing mulch, planting, etc.)
You have some friends that have experience with these side hustles (they inspired you!). Three friends graciously provided you with the following info on the amount of monthly time spent (in hours) on their side hustle (assume all three have comparable annual revenues and profit margins):
Ian (washes cars, trucks, boats, etc.):
Jan - 39
Feb -43
Mar - 45
Apr - 51
May - 56
June - 60
July - 65
Aug - 68
Sept -62
Oct -57
Nov -55
Dec - 60
Amelia (sells homemade popsicles)
Jan -38
Feb -38
Mar -49
Apr -62
May -60
June -65
July -70
Aug -64
Sept -27
Oct -19
Nov -21
Dec -24
Slater (landscaping)
Jan -33
Feb -37
Mar -42
Apr -46
May -53
June -59
July -59
Aug -58
Sept -56
Oct -50
Nov -45
Dec -39
Based on the information provided above, answer the questions below and bold your final answers, then upload your finished project under Modules -> Week 4 -> Project 1. You MUST explain your answers and show your work (calculations, reasoning, etc.) to get full credit.
What is the probability for each of these three side hustles that you would work at least 40 hours a month? Show all calculations/work.
What is the probability for each of these three side hustles that you would work over 60 hours a month given it’s a peak summer month (June, July, and August)? Show all calculations/work.
What are the odds for each of these three side hustles that you will have to work over 40 hours during the school year (Sept-May)? Show all calculations/work.
You want to work four days a week.
How many ways can you schedule your four-day work week?
How many ways can you schedule your four-day work week if you want to avoid working 4 days in a row?
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins