Homework Answers
It is widely accepted, that a minimum sample size should be of 100, otherwise you need to evaluate the entire population. So here the answer should be :
C) 100 customers
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John needs to find out the probability that he will sell all his cars by the...
John spends all his money on his car and clothes. Every month he has $1000 to...
John spends all his money on his car and clothes. Every month he has $1000 to spend, and each time he takes the car to the garage, it costs him $200, while each article of clothing he buys costs him $250. What is the opportunity cost of one car trip to the garage? Briefly show your math. In the space below, draw John’s budget constraint, making sure to label every axis, line, intercept, and slope. John’s grandmother gave him a...
(1 point) John wants to buy a new sports car, and he estimates that he'll need...
(1 point) John wants to buy a new sports car, and he estimates that he'll need to make a $2,625.00 down payment towards his purchase. If he has 16 months to save up for the new car, how much should he deposit into his account if the account earns 2.981% compounded continuously so that he may reach his goal? John needs to deposit (Note: Your answer should have a dollar sign and be accurate to two decimal places)
(1 point) John wants to buy a new sports car, and he estimates that he'l need...
(1 point) John wants to buy a new sports car, and he estimates that he'l need to make a $3,300.00 down payment towards his purchase. If he has 27 months to save up for the new car, how much should he deposit into his account if the account earns 2.796% compounded continuously so that he may reach his goal? John needs to deposit (Note: Your answer should have a dollar sign and be accurate to two decimal places)
A used car salesperson claims that the probability of he selling a used car to an...
A used car salesperson claims that the probability of he selling a used car to an individual looking to purchase a used car is 70% and this probability does not vary from individual to individual. Suppose 5 individuals come to speak to this salesperson one day. If his belief is correct, The probability (to 4 decimal places) that he will sell a car to the first individual he speaks to is ______ The probability (to 4 decimal places) that he...
Mr. Carter operates Economy Furniture Mart, and he pays each of his sales people $48,0000 a...
Mr. Carter operates Economy Furniture Mart, and he pays each of his sales people $48,0000 a year to sell a good mid grade quality furniture. He has a total of 8 sales people. After reading an industry report, he feels that his total company sales should be at least double what he is making. Most of the sales people come into the store and meet in the back room for coffee and snacks and spend lots of time on their...
4. John is 25 years old right now. He needs $650,000 at age of 65 to...
4. John is 25 years old right now. He needs $650,000 at age of 65 to retire comfortably. If his mutual fund account can generate an average annual rate of return of 7%, how much money he needs to put in right now? 5. Bank Certificate of Deposit (CD) gives you 3% interests, how much money will you have in 20 years when you deposit $7500 today? 6. John deposits $1000 into company Raw IRA each month (another type of...
Tom is considering buying a $20,000 car. After five years, he will be able to sell...
Tom is considering buying a $20,000 car. After five years, he will be able to sell the vehicle for $10,000. Gasoline costs will be $2000 per year, insurance $600 per year, and parking $400 per year. Maintenance costs for the first year will be $1000, rising by $200 per year thereafter. Assume all costs are payable at the end of the year. The alternative is for Tom to take taxis everywhere. This will cost an estimated $6000 per year. Tom...
Life Insurance Needs Analysis Case Your friend John asks you for advice concerning life insurance. John...
Life Insurance Needs Analysis Case Your friend John asks you for advice concerning life insurance. John is 26 years old and graduated from law school last year. He currently earns $43,000 per year. John’s wife, Mary, is a graphics designer who currently earns $51,500 per year. Mary is 28 years old. The couple have three children: Billy, age 2, Cindy, age 4, and Sally, age 6. John and Mary pay $1,075 per month for their home mortgage, which will be...
Spencer would like to buy a car. He narrowed down his choice into two cars. The...
Spencer would like to buy a car. He narrowed down his choice into two cars. The first car, RX costs $23,000 and the annual insurance, repair, maintenance, tax, and fuel cost is $3,800 and could be sold for $8,000 at the end of four year. On the other hand, the second car, BZ costs $28,000, the annual costs for this car is $3200 per year and it can be sold for $10 000 at the end of the fifth year....
4. John is 35 years old right now. He needs $550,000 at age of 65 to...
4. John is 35 years old right now. He needs $550,000 at age of 65 to retire comfortably. If his 401K account can generate an average annual rate of return of 5%, how much money (Payment) he needs to put in right now annually? 5. Philadelphia 76ers will have a "guys night out" campaign. For a set of 4 tickets purchased at $45 per ticket level, fans will receive a free beer and a hotdog. The cost of a beer...
(1 point) John wants to buy a new sports car, and he estimates that he'll need to make a $2,625.00 down payment towards his purchase. If he has 16 months to save up for the new car, how much should he deposit into his account if the account earns 2.981% compounded continuously so that he may reach his goal? John needs to deposit (Note: Your answer should have a dollar sign and be accurate to two decimal places)
(1 point) John wants to buy a new sports car, and he estimates that he'l need to make a $3,300.00 down payment towards his purchase. If he has 27 months to save up for the new car, how much should he deposit into his account if the account earns 2.796% compounded continuously so that he may reach his goal? John needs to deposit (Note: Your answer should have a dollar sign and be accurate to two decimal places)
4. John is 25 years old right now. He needs $650,000 at age of 65 to retire comfortably. If his mutual fund account can generate an average annual rate of return of 7%, how much money he needs to put in right now? 5. Bank Certificate of Deposit (CD) gives you 3% interests, how much money will you have in 20 years when you deposit $7500 today? 6. John deposits $1000 into company Raw IRA each month (another type of...
4. John is 35 years old right now. He needs $550,000 at age of 65 to retire comfortably. If his 401K account can generate an average annual rate of return of 5%, how much money (Payment) he needs to put in right now annually? 5. Philadelphia 76ers will have a "guys night out" campaign. For a set of 4 tickets purchased at $45 per ticket level, fans will receive a free beer and a hotdog. The cost of a beer...
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