Mamma Temte bakes six pies a day that cost $2 each to produce. On 28% of...
Mamma Temte bakes six pies a day that cost $2 each to produce. On 28% of the days she sells only two pies. On 25% of the days, she sells 4 pies, and on the remaining 47% of the days, she sells all six pies. If Mama Temte sells her pies for $4 each, what is her expected profit for a day's worth of pies? [Assume that any leftover pies are given away.]
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Mamma Temte bakes six pies a day that cost $2 each to produce.
On 28% of...
mamma temte bakes six pies per day that cost $2. each to produce. on 23% of...
mamma temte bakes six pies per day that cost $2. each to produce. on 23% of the days she sells only two pies on 31% of the days she sells 4 pies and the remaining 46% of the days she sells all six pies. mamma temte sells pies for $5 each. let T = the total profit from a days worth pies. (a) give the probability distribution for the discrete random variable T. (b) what is her expected profit for...
Provide an appropriate response 8) An Apple Pie Company knows that the number of pies sold...
Provide an appropriate response 8) An Apple Pie Company knows that the number of pies sold each day varies from day to day. The owner believes that on 50% of the days she sells 100 pies. On another 25% of the days she sells 150 pies, and she sells 200 pies on the remaining 25% of the days. To make sure she has enough product, the owner bakes 200 pies each day at a cost of $2 each. Assume any...
A vendor prepares 100.00 hotdogs every day and sells at $18.00 /piece. For each hot dog,...
A vendor prepares 100.00 hotdogs every day and sells at $18.00 /piece. For each hot dog, he spends $13.00 in the raw material. Additionally he spends $1.51 for packing each hotdog and monthly $58.00, $25.00, $10.00 as food truck rent, electricity and other expenses respectively. Lost sales are charged at $5.00 per lost sale. Leftover hotdogs can be sold for $3. On a particular day in June 108.00 people came wanting to buy a hotdog. Determine the vendor's profit for...
2. ABC Farm Patch sells a carton of vegetables for $50 each. For each day, they estimate that they will sell 15, 25,...
2. ABC Farm Patch sells a carton of vegetables for $50 each. For each day, they estimate that they will sell 15, 25, 35, or 45 cartons with respective probabilities of 0.35, 0.25, 0.20, and ... (figure it out). They can only produce cartons in lots of ten from their farms. And, 10, 20, 30, 40, and 50 cartons cost $40, 39, 37, 36, and 34 per carton respectively. Every day, ABC's has a clearance sale and will get rid...
Question 2 (10 points) A lazy taxi driver makes exactly three trips each day. For each...
Question 2 (10 points) A lazy taxi driver makes exactly three trips each day. For each of the past 200 days shes been working, she has recorded the number of rides that earned her more than $25. She calls these good rides. It is reasonable to assume that her trip earnings form a random sample. She collects the following data: Number of good rides Number of days 80 26 For instance, she had 23 days without any good ride. In...
A string producing plant sells a roll of string for $2.00. The marginal cost to produce each roll of string...
A string producing plant sells a roll of string for $2.00. The marginal cost to produce each roll of string is $2.00. The firm is operating at allocative efficiency distiributive efficiency .consumer's efficiency productive efficiency Aunt Mabel likes to play Bingo every Friday night. One night she wins $25 and spends it on coloring her hair blue even though she has been saving for a new rocking chair. She said because she won the $25 instead of receiving it in...
Part 2: Linear programmin The Athena Princess is a luxury cruise liner that cruises the Aegean...
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For a table manufacturing company, selling price for a table is $156.00 per Unit, Variable cost...
For a table manufacturing company, selling price for a table is $156.00 per Unit, Variable cost is $25.00 per Unit, rent is $3,179.00 per month and insurance is $292.00 per month. Company wants to expand its business and improve the table quality, it wants to increase the selling price for a table to $297.00 per Unit, Variable cost to $42.00 per Unit, bigger area will have rent $5,816.00 per month and insurance is $336.00 per month At what point will...
Part I – The PA It had nally arrived! e day Margo had been waiting for—retirement...
Part I – The PA It had nally arrived! e day Margo had been waiting for—retirement day. And given that the temperature had hovered around 40 degrees the last week of March in Ohio, retirement along with the move to the warm south couldn’t come soon enough. Most of Margo’s belongings had been boxed up and sent on to Florida the previous week, but a few remaining items, including her wide screen TV, would be transported in the car. Week...
Case Overview: You are an intelligent ten-year-old child who wants to start a lemonade stand. You...
Case Overview:
You are an intelligent ten-year-old child who wants to start a
lemonade stand. You live in Duluth, Minnesota in a middle class
neighborhood, with all of the benefits and constraints of a typical
child of that age. As a start, you have outlined three possible
business plans:
Fresh Squeezed Plan:
Your mother has agreed to loan you $5 to get your fresh squeezed
lemonade stand started and she will let you use her lemon squeezer
at no charge,...
Provide an appropriate response 8) An Apple Pie Company knows that the number of pies sold each day varies from day to day. The owner believes that on 50% of the days she sells 100 pies. On another 25% of the days she sells 150 pies, and she sells 200 pies on the remaining 25% of the days. To make sure she has enough product, the owner bakes 200 pies each day at a cost of $2 each. Assume any...
A vendor prepares 100.00 hotdogs every day and sells at $18.00 /piece. For each hot dog, he spends $13.00 in the raw material. Additionally he spends $1.51 for packing each hotdog and monthly $58.00, $25.00, $10.00 as food truck rent, electricity and other expenses respectively. Lost sales are charged at $5.00 per lost sale. Leftover hotdogs can be sold for $3. On a particular day in June 108.00 people came wanting to buy a hotdog. Determine the vendor's profit for...
2. ABC Farm Patch sells a carton of vegetables for $50 each. For each day, they estimate that they will sell 15, 25, 35, or 45 cartons with respective probabilities of 0.35, 0.25, 0.20, and ... (figure it out). They can only produce cartons in lots of ten from their farms. And, 10, 20, 30, 40, and 50 cartons cost $40, 39, 37, 36, and 34 per carton respectively. Every day, ABC's has a clearance sale and will get rid...
Question 2 (10 points) A lazy taxi driver makes exactly three trips each day. For each of the past 200 days shes been working, she has recorded the number of rides that earned her more than $25. She calls these good rides. It is reasonable to assume that her trip earnings form a random sample. She collects the following data: Number of good rides Number of days 80 26 For instance, she had 23 days without any good ride. In...
A string producing plant sells a roll of string for $2.00. The marginal cost to produce each roll of string is $2.00. The firm is operating at allocative efficiency distiributive efficiency .consumer's efficiency productive efficiency Aunt Mabel likes to play Bingo every Friday night. One night she wins $25 and spends it on coloring her hair blue even though she has been saving for a new rocking chair. She said because she won the $25 instead of receiving it in...
Part 2: Linear programmin The Athena Princess is a luxury cruise liner that cruises the Aegean Sea and can hold 750 passengers. A round-trip from/to Athens takes six days, with passengers departing from Athens on day one and arriving back in Athens at the end of day six. The ship has a stop-over at a different port at the start of each day. Passengers are able to embark and disembark at any port, but multiple-day voyagers must be for consecutive...
For a table manufacturing company, selling price for a table is $156.00 per Unit, Variable cost is $25.00 per Unit, rent is $3,179.00 per month and insurance is $292.00 per month. Company wants to expand its business and improve the table quality, it wants to increase the selling price for a table to $297.00 per Unit, Variable cost to $42.00 per Unit, bigger area will have rent $5,816.00 per month and insurance is $336.00 per month At what point will...
Case Overview:
You are an intelligent ten-year-old child who wants to start a
lemonade stand. You live in Duluth, Minnesota in a middle class
neighborhood, with all of the benefits and constraints of a typical
child of that age. As a start, you have outlined three possible
business plans:
Fresh Squeezed Plan:
Your mother has agreed to loan you $5 to get your fresh squeezed
lemonade stand started and she will let you use her lemon squeezer
at no charge,...
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