Illustrate what is the probability that a randomly selected

Assignment Help Business Economics
Reference no: EM1363187

An orange juice producer buys all his oranges from a large orange orchard. The amount of juice squeezed from each of these oranges is approximately normally distributed with a mean of 4.7 ounces and a standard deviation of 0.40 ounce.

From Excel, we know that the probability is 30.85% that a randomly selected orange will contain less than 4.5 ounces of juice. Also the probability is 10.56% that a randomly selected orange will contain more than 5.2 ounces of juice. Without further use of Excel, what is the probability (in %) that a randomly selected orange will contain less than 4.2 ounces of juices?

Reference no: EM1363187

Questions Cloud

Business accounting for manufacturing company : Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2011, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. Determine ..
Show mental model mindset : Are mindsets simply shortcuts and Do we really have time to be open-minded to every situation and analyze all the different angles?
Balance the alignment of organizational goals : How can you balance the alignment of organizational goals with compliance of legal requirements when implementing a financial plan?
Show optimal storage space : The forecasted demand for the new tire is 10,000 units per year and is expected to be stable for several years ahead. The cost of the raw material, utilities and labor is $40 per tire.
Illustrate what is the probability that a randomly selected : Without further use of Excel, illustrate what is the probability (in %) that a randomly selected orange will contain less than 4.2 ounces of juices?
Health care product with four p : Select a health care product you are familiar with and define the four Ps' product, place, price, promotion?
Determine expected return on stock : Distribution of rates of return on stock is as follows: State of Economy Probability of State Occurring Stock Return percent
Explain classic five-stage risc integer pipeline : Assume that the initial value of R3 is R2 + 496. Use the classic five-stage RISC integer pipeline and assume all memory accesses take 1 clock cycle.
What is the mass of helium in the balloon : what is the mass of helium in the balloon.

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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