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The U.S. population by age is as follows (The World Almanac 2004). The data are in millions of people.
AgeNumber
19 and under 80.5
20 to 24 19.0
25 to 34 39.9
35 to 44 45.2
45 to 54 37.7
55 to 64 24.3
65 and over 35.0
Assume that a person will be randomly chosen from this population.
a. What is the probability the person is 20 to 24 years old?
b. What is the probability the person is 20 to 34 years old?
c. What is the probability the person is 45 years or older?
An alcohol solution contains 6% ethanol by mass. This solution is fed to a distillation process which results in a concentrated product (90% ethanol by mass) and an "ethanol free" product (0.005% ethanol by mass).
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Signal Florists (SF) operates a retail flower shop. Their sales for October total $5,000. They have projected revenue for the next three months as follows: Prepare a cash inflow budget for December, January, and February.
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Turner, Inc. uses straight-line depreciation for its equipment. Turner purchased equipment for $500,000 and estimated its useful life at 8 years. The bookkeeper failed to consider the residual value of $50,000. What is the impact on earnings per s..
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An employee whose regular hourly rate is $20 and whose overtime rate is 1.5 times the regular rate worked 44 hours in one week. In the payroll register, the employer should record an overtime premium of:
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