Standard normal concept

Assignment Help Accounting Basics
Reference no: EM13966977

Standard Normal Concept

Speedy Business Cards, Inc., supplies customized business cards to commercial and individual customers. The company is preparing a bid to supply cards to the Nationwide Realty Company, a large association of independent real estate agents. Because paper, ink, and other costs cannot be determined precisely, Speedy anticipates that costs will be normally distributed around a mean of $20 per unit (each 500-card order) with a standard deviation of $2 per unit.

A. What is the probability that Speedy will make a profit at a price of $20 per unit?

B. Calculate the unit price necessary to give Speedy a 95% chance of making a profit on the order.

C. If Speedy submits a successful bid of $23 per unit, what is the probability that it will make a profit?

Reference no: EM13966977

Questions Cloud

What is vertical force component that is acting at forearm : The biceps brachii produces a force of 100 N while acting at a 115 degree angle to the right horizontally positioned forearm. What is the vertical force component that is acting at the forearm?
Describe strategies to make the off-label use of drugs safer : An explanation of circumstances under which children should be prescribed drugs for off-label use. Then, describe strategies to make the off-label use and dosage of drugs safer for children from infancy to adolescence
About the Cost of lost sale : Henry has a newspaper stand where he sells them for $0.50 each. The papers cost him $0.30 each, giving him a $0.20 profit on each one he sells. From past experiences, he knows that: Assuming that Henry believes the cost of lost sale is $0.10 and any ..
Minimum number of trauma bays necessary to meet requirement : The local hospital’s emergency department has 6 trauma bays. On average, patients requiring a trauma bay arrive every 30 minutes (with a coefficient of variation of 1) What percentage of the patients requiring trauma bays end up being sent to another..
Standard normal concept : Speedy Business Cards, Inc., supplies customized business cards to commercial and individual customers. The company is preparing a bid to supply cards to the Nationwide Realty Company, a large association of independent real estate agents.
Develop a plan to become an nurse practitioner : Develop a plan to become an nurse practitioner. First, take time to examine the roles of the advanced practice nurse within the context of the United States healthcare delivery system
Determining the decision trees : Keystone Manufacturing, Inc., is analyzing a new bid to supply the compa- ny with electronic control systems. Alpha Corporation has been supplying the systems, and Keystone is satisfied with its performance. However, a bid has just been received f..
Write an essay on science in our life : Write an Essay on 'Science in our Life' 1000 words atleast.
What is a polymorphonuclear neutrophil : After the contact with foreign antigens, body produces specific antibody. These specific antibodies are readily detectable in serum primary contact with antigen after what?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Your client keith moreland leasing company is preparing a

your client keith moreland leasing company is preparing a contract to lease a machine to souvenirs corporation for a

  Entry into foreign market

Cameron International Corporation with revenues of $6,134.8 million (FY 2010), net profit of $562.9 million (FY 2010) and an operating profit of $858.5 (FY 2010), provides flow equipment and pressure control equipment for both land and sea oil rig..

  Evaluate the probable causes of the erp implementation

evaluate the probable causes of the ERP implementation failure and then create your own hypothesis as to why it failed. Assess the effects the failure had on consumers, stockholders, employees, and the company's image.

  What is the companys magnitude of operating leverage

What is this company's magnitude of operating leverage? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

  Theory behind problems that involve motivations

In this paper, I will review and give details regarding the theory behind problems that involve motivations at work and I will use motivational theories to describe actions modifying the motivation and behavior on the job. Workers today are motiva..

  Case management quandary of individual and master

Comprising the rotation of magistrates amid subdivisions is suggestively more challenging than managing individual calendaring of cases supported by general magistrates, attorneys, and superintendents. To manage individual calendaring comprising ..

  Explain why the communication skills and techniquesused

1.explain why the communication skills and techniquesused within a business unit department are not alwayseffective in

  Revenue and cost

Phil Keogan is considering a bid for the hotdog and softdrink concession at the 14 basketball games for the Cagayan Unigames. There will be seven college games and seven professional games.

  An owner has invested 50000 in a business and desires a

an owner has invested 50000 in a business and desires a return on that investment 10. she wants to take 40000 in

  Calculate the amount of debt and equity that would be

charter enterprises currently has 1 million in total assets and is totally equity financed. it is contemplating a

  Superior corporation acquired taylor corporation pursuant

superior corporation acquired taylor corporation pursuant to a statutory merger under state law. as a result of the

  Jake company reports the following for july august

jake company reports the following for july august september. sales july 26000 august 34000 september 38000.

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