How many dollars should you convert to shillings

Assignment Help Business Management

Reference no: EM131255584

Shillings:-

You are traveling abroad and have only American dollars with you. You are currently in the capital but you will soon be heading out to a small town for an extended stay. In the town, no one takes credit cards and they only accept the domestic currency (shillings). In the capital, you can convert dollars to shillings at a rate of two shillings per dollar. In the town, you learn that one dollar only buys 1 .6 shillings. Upon your return to the capital at the end of your trip, you can convert shillings back to dollars at a rate of 2.5 shillings per dollar. You estimate that your expenditures in the town will be normally distributed with mean of400 shillings and standard deviation of 1 00 shillings.

a. How many dollars should you convert to shillings before leaving the capital?

b. After some thought, you feel that it might be embarrassing if you run out of shillings and need to ask to convert additional dollars, so you really do not want to run out of shillings. How many dollars should you convert to shillings if you want to ensure there is no more than a I in 200 chance you will run out of shillings?

Reference no: EM131255584

Questions Cloud

Decision on the expected profit over : Should she buy one X100 or one X120 server? Base your decision on the expected profit over the following two years. Also assume for simplicity that the servers have a useful life of 2 years and no salvage value. Finally disregard time value of mon..

Determine the rent''s rule coefficient values m and c : Use the value of m and C to predict the number of I/O pins required for the first Pentium 4 assuming that it is manufactured with 42,000,000 transistors.

What are the possible problem you can foresee in the country : While other countries such as Italy and Germany have very low birthrates, not even replacing the current population. What are the possible problems you can foresee in these countries?

Analyzing a security breach : Many types of systems are networked together, and the number of devices that are added to this network increases every year. You can set your home security alarm system using a smartphone app or use another mobile app to open your car door.

How many dollars should you convert to shillings : How many dollars should you convert to shillings before leaving the capital? - How many dollars should you convert to shillings if you want to ensure there is no more than a I in 200 chance you will run out of shillings?

How many i/o pins are predicted by rent’s rule : In the equation for Rent's rule with C = 4.5 and m = 0.5, determine the value of nio and nc at which the number of logic gates equals the number of I/O terminals in the package.

What is tec expected profit with the traditional arrangement : What is TEC's expected profit with the traditional arrangement. - What is TEC's expected profit if it offers the reactive capacity to O'Neill and TEC's first production run equals O'Neills first production order?

Explain the stages of fire and relation to fire resistance : Explain the stages of fire and the relation to fire resistance and flame spread. Describe suppression tactics during each one of these stages and the hazards firefighters should be aware of during the growth and spread of the fire.

Find the effect of package style on the number of circuts : It is desired to determine the effect of package style on the number of circuits (logic gates) that can be fabricated onto an IC chip to which the package is assembled.

User Account

All Pages