Writing mathematical expression for total profit

Assignment Help Basic Statistics
Reference no: EM13120371

There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Write a mathematical expression for total profit.

Reference no: EM13120371

Questions Cloud

Balance sheet accounts of wickham corporation : The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.
Expression for total revenue function : The relationship d = 5000 - 25p describes what happens to demand (d) as price (p) varies. The price can vary between $10 and $50. What is the mathematical expression for total revenue (TRV).
What is the probability that a completely unprepared : What is the probability that a completely unprepared student answers correctly. Solution to "Binomial Distribution" question
Predict the lean mass for a person : The person's body fat percentage, and ‘y' is the person's lean mass percentage. Predict the lean mass for a person who is 27 years old and has a body fat percentage of 4.5%.
Writing mathematical expression for total profit : There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Write a mathematical expression for total profit.
Important information about probability and statisics : Important information about Probability and Statisics. Find the probability that a randomly selected adult has an IQ between 90 and 110
Calculate the payback period for the proposed investment : Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..
Use the central limit theorism to solve question : what is the probability that the sample mean will be at least 1000? Do you need to use the central limit theorism to answer this question? explain.
Calculate the payback period for the proposed investment : Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..

Reviews

Write a Review

Basic Statistics Questions & Answers

  Design and analysis of experiment question

From time to time, one branch office of a company must make shipments to a certain branch office in another state. There are three package delivery services between the two cities where the branch offices are located.

  Chi square test for goodness of fit-expected frequency

A chi-square test for goodness of fit is used to test whether or not there are any preferences among 3 brands of cola.

  Probability-addition rule

Find the probability of drawing either a king or a spade in a single draw from a pack of 52 playing cards.

  Probability for determining capacity of the plane

Determine the probability that the number of people who show up will exceed the capacity of the plane?

  Assessing the probability values

Students are the University of New Harmony received 10, 000 course grades last semester. The table below breaks down these grades by which school of the university taught the course.

  Determining critical value of chi-square test

What is the critical value of the Chi-square? Compute the value of Chi-square. What is your decision regarding H0?

  Maintenance checks of the airplaine landing gear

Using random numbers of 0.1562, 0.9821, 0.3409, 0.5594, and 0.7758, compute the time required for each of five simulated maintenance checks of the airplaine's landing gear.

  Conclude how woodco can maximize its revenue

Woodco manufactures tables and chairs. Each table and chair must be made entirely out of oak or entirely out of pine. A total of 150 board feet of oak and 210 board feet of pine are available.

  Testing the significance of the regression model

The ANOVA summary table below is the result of a regression of sales on year of sales. Is the relationship statistically significant at .05? Comment.

  Identify independent and dependent variable investigated

Identify Independent and Dependent variable being investigated. Formulate the hypothesis statement regarding your research issue.

  Linear regression relationship analysis

Ten students in a graduate program were randomly selected. Their grade point averages (GPAs) when they entered the program were between 3.5 and 4.0.

  Assessing null and alternative hypothesis to test the claim

If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?

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