The daily price in dollars per metric ton of cocoa in 2007 was normally distributed with
Question:
The daily price in dollars per metric ton of cocoa in 2007 was normally distributed with µ = $2,014 per metric ton and σ = $2.00. Find a price such that the probability that the actual price will be above it is 0.80.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (14 reviews)
X N2014 2 2 080 probability of being z means ...View the full answer
Answered By
Nimlord Kingori
2023 is my 7th year in academic writing, I have grown to be that tutor who will help raise your grade and better your GPA. At a fraction of the cost on other sites, I will work on your assignment by taking it as mine. I give it all the attention it deserves and ensures you get the grade that I promise. I am well versed in business-related subjects, information technology, Nursing, history, poetry, and statistics. Some software's that I have access to are SPSS and NVIVO. I kindly encourage you to try me; I may be all that you have been seeking, thank you.
4.90+
360+ Reviews
1070+ Question Solved
Related Book For
Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian
Question Posted:
Students also viewed these Statistics questions
-
Is it possible to find a number such that xn dx is convergent?
-
Find a z0 such that P(- z0 < z < z0) = .8262.
-
Find a value such that the probability that the standard normal random variable will be above it is 0.85.
-
For each of these utility functions, find the optimal consumption choices z and y for a consumer with budget w = 1, who faces prices pz = 0.05 and Py = 0.3. Are the goods substitutes or complements,...
-
MNLogs harvested logs (with no inputs from other companies) from its prop¬erty in northern Minnesota. It sold these logs to MNLumber for $1,500 and MNLumber cut and planed the logs into lumber....
-
Comparative Statements of Shareholders? Equity for Locke Intertechnology Corporation were reported as follows for the fiscal years ending December 31, 2019, 2020, and 2021. Required: Infer from the...
-
It is mentioned that for a "decision to be made" there must be more than one alternative under consideration and the possible outcomes must be of unequal value. What are the three general types of...
-
Currently, at a price of $1 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is...
-
a. Journalize, record, and post the following transactions as needed to the sales, purchases, cash receipts, cash payments, and general journals. All terms are 2/10, n/30 on both sales and purchases....
-
The Ranch House, Inc., operates five fast-food restaurants. Input measures for the restaurants include weekly hours of operation, full-time equivalent staff, and weekly supply expenses. Output...
-
The daily price of coffee is approximately normally distributed over a period of 15 days with a mean in April 2007 of $1.35 per pound (on the wholesale market) and standard deviation of $0.15. Find a...
-
The manager of a restaurant knows from experience that 70% of the people who make reservations for the evening show up for dinner. The manager decides one evening to overbook and accept 20...
-
What other possible events that can only occur if the department is closed could make it profitable to close the Hairdressing Department?
-
Individuals are exempt from purchasing insurance if their income is below the tax-filing threshold (in 2020, this amount was \($12,200\) for single people younger than 65 years and \($24,400\) for...
-
The amount of the premium tax credit is tiered based on income and is set so that individuals will not have to pay more than a certain percentage of their income for premiums (see Table 11.1). The...
-
Look at Table 24.4. What is easier to controltoxic chemicals leaching out of landfills or toxic chemicals in surface runoff? Defend your answer. TABLE 24.4 COMMON KINDS OF WATER POLLUTANTS Organic...
-
A \(1500 \mathrm{~kg}\) car is approaching the hill shown in Figure P10.32 at \(10 \mathrm{~m} / \mathrm{s}\) when it suddenly runs out of gas. a. Can the car make it to the top of the hill by...
-
San Francisco, California, has mild winters. Springfield, Missouri, has cold winters. Yet San Francisco is farther north than Springfield. Is it surprising to learn then that Springfield is colder in...
-
Logan has prepared the following trial balance at 31 March 2004. Logan is unable to find the difference on the trial balance and has entered the difference in the Suspense Account. The following...
-
1. Firms may hold financial assets to earn returns. How the firm would classify financial assets? What treatment will such financial assets get in the financial statements in accordance with US GAAP...
-
The frequency histogram in the next column represents the number of alcohol-related trafï¬c fatalities by state (including Washington, D.C.) in 2008 according to the National Highway...
-
For each variable presented, state whether you would expect a histogram of the data to be bell-shaped, uniform, skewed left, or skewed right. Justify your reasoning. (a) Annual household incomes in...
-
For each variable presented, state whether you would expect a histogram of the data to be bell-shaped, uniform, skewed left, or skewed right. Justify your reasoning. (a) Number of alcoholic drinks...
-
What kind of leader do you aspire to be and what are the traits? Explain.
-
10. Create the following row vector A where it has 18 elements (1 to 18). 1 4 7 10 13 16. 11 14 17 a. Use the reshape function to obtain B: == 2 5 8 3 6 9 12 15 18 b. Create a 7 element row vector...
-
7) Use Matlab codes to create two different vectors to separately store the numerators and denominators of the following sequence of 50 fractional numbers: 1/3, 2/5, 3/7, 4/9, 5/11, 6/13, ......,...
Study smarter with the SolutionInn App