Find the total revenue at break even point

Assignment Help Basic Statistics
Reference no: EM13125250

Farris Billiard supply sells all types of billiard's equipment, and is considering manufacturing their own brand of pool cues. Misty Farris, the production manager is currently investing the production of a standard house pool cue that should be very popular. Upon analyzing the cost, Misty determines that the materials and labor costs for each cue is 25 dollars, and the fixed cost that must be covered is 2400 dollars per week. With a selling price of 40 dollars each, how many pool cues must be sold to break even? What would the total revenue be at this break even point?

Reference no: EM13125250

Questions Cloud

How much heat (kj) is needed : Ethanol (C2H5OH) melts at -114 °C. The enthalpy of fusion is 5.02 kJ/mol. The specific heats of solid and liquid ethanol are 0.97 J/g-K and 2.3 J/g-K, respectively.
Create the 5-step hypothesis test for particular claim : Develop the 5-Step Hypothesis Test for a particular claim related to your work or life environment. (This should be a test of one-sample mean or one-sample proportion.
Computing rate and activation energy of diffusion : Calculating Rate and Activation Energy of Diffusion, a) How do I calculate the time that will it take for 0.001 moles of CO2 to leak from a container at steady-state, assuming that the amount of CO in the surroundings is insignificant?
What is the br- concentration : When 9 mL of a solution containing 2.5 M AlBr3 is diluted to 30 mL, a dilute solution is formed. What is the Br- concentration in 15 mL of the dilute solution?
Find the total revenue at break even point : With a selling price of 40 dollars each, how many pool cues must be sold to break even? What would the total revenue be at this break even point?
Elimination of a consolidation worksheet : Why do intercompany balances exist within the financial records of the separate companies? How are these reciprocals eliminated on a consolidation worksheet?
Open interval and half-open interval : Prove that there is a bijection from the open interval (0, 1) to the half-open interval (0, 1].
Compute the standard price per pound for materials : During the past month, the company purchased 6,000 pounds of direct materials at a cost of $16,500. All of this material was used in the production of 1,400 units of product. Direct labor cost totaled $28,500 for the month.
Question about outer measure : Let m'(A) = inf sum of |M_i| where i is from 1 to infinity, such that A is a subset of M_i. M_i's are disjoint.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Sufficient evidence to support the claim of mean speed

There is sufficient evidence to support the claim that the mean speed of all cars on that section of I-10 is greater than the posted speed limit of 70 mph.

  Traditional hypothesis test approach

Use traditional hypothesis test approach. Draw a graph showing the test statistic and critical values. Assume the population has a distribution that is approximately normal and that the sample is a simple random sample.

  Determining difference in variances

A sample of 25 concession stand purchases at the October 22 matinee of Bride of Chucky showed a mean purchase of $5.29 with a standard deviation of $2.78.

  Presently cleaned also identified define the probability

At 1 excavation site 8641 pot shards have been found that have not presently been cleaned also identified. Define the probability.

  Mathematical expression for probability density function

The weight of a .5 cubic yard bag of landscape mulch in uniformly distributed over the interval from 38.5 to 41.5 pounds. Give a mathematical expression for the probability density function.

  Probability of randomly chosen student

A small business owner is experiencing a high staff turnover and wants to design a study to investigate the problem. What is the probability of randomly chosen student scoring at least 60?

  Sample correlation between returns on assets

Find the sample correlation between returns on assets and the ratio of loans to deposits. Interpret the intercept and slope of the estimated regression line.

  Determine least squares estimators for second model

Determine the least squares estimators γ and δ for this second model associated to corresponding LS estimators α and β of first model?

  Calculating correlation and regression equation

Calculate the correlation and the regression equation and plot the data in the space provided.

  Probability of independent events-failure or success

A certain airplane has two independent alternators to provide electrical power. The probability that a given alternator will fail on a 1-hour flight is .02.

  Reasons of developing frequency distribution

Critically discuss the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why?

  Standard deviations below and above the mean

According to the empirical rule, if the data from a "bell-shaped" normal distribution ______ percent of the observation will be contained between 2 standard deviations below the mean and 2 standard deviations above the mean.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd