Question

In: Statistics and Probability

According to sales information in the first quarter of 2019, 11% of the new vehicles sold...

According to sales information in the first quarter of 2019, 11% of the new vehicles sold in the United States were hybrids. Let’s assume these statistics remain the same for 2020. That is, 11 percent of the new car sales are hybrids in the first quarter of 2020. For a sample of 52 vehicles sold in the Richmond, Virginia area, what is the probability that:

  1. More than 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

  1. At least 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

  1. Exactly 6 were hybrids? (Round your z-score computation to 2 decimal places and final answer to 4 decimal places.)

Solutions

Expert Solution

orchestra answered 2 years ago
Next > < Previous

Related Solutions

Prepare a sales budget for the first quarter (Q1) and the first quarter in total. The...
Prepare a sales budget for the first quarter (Q1) and the first quarter in total. The selling price per unit is $50.00. December 50,000/ January 70,000/February 100,000 /March 60,000 / April 100,000 Past experience shows that 45% of sales are collected in the month of the sale, and 55% in the month following the sale. 2. Prepare a purchases budget for January through March, and the first quarter in total. Assume that the company only sells one product that can...
Prepare a sales budget for the first quarter (Q1) and the first quarter in total. The...
Prepare a sales budget for the first quarter (Q1) and the first quarter in total. The selling price per unit is $50.00. December of the previous year    10,000 January                                     70,000 February                                    30,000 March                                        50,000 April                                          80,000 Past experience shows that 45% of sales are collected in the month of the sale, and 55% in the month following the sale.                           2. Prepare a purchases budget for January through March, and the first quarter in total. Assume that the company only...
During the first calendar quarter of 2019, Clinton Corporation is planning to manufacture a new product...
During the first calendar quarter of 2019, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 6,000 units in the urban region at a unit price of $53 and 5,000 units in the rural region at $48 each. Because the sales manager expects the product to catch on, he has asked for production sufficient to generate a 4,000-unit ending inventory. The production manager has furnished the following...
Sales Forecasts for the first quarter of 2018: January 11 000 units February 13 000 units...
Sales Forecasts for the first quarter of 2018: January 11 000 units February 13 000 units March 14 000 units. Unit selling price $100 Prepare the Sales Budget for Jan, Feb, and March. In addition to the info in problem #1, the company requires jan 20% of next month's budgeted sales as ending finished goods feb inventory each month. Ending inventory for 12/31/17 was mar 2,200 units. The Sales forecast for April is 20,000 units.
Operating Budget Create an operating budget for the first quarter of a new business. Projected Sales...
Operating Budget Create an operating budget for the first quarter of a new business. Projected Sales are: Month #1: $65,000 Month #2: $97,500 Month #3: $130,000 Month #4: $110,500 These sales are based on selling one product with a selling price of $6.50 Create a Production Budget based on Units (not dollars). Desired Finished Goods Ending Inventory each month is 10% of the next month’s projected sales. (Use the Finished Goods Ending Inventory amount for the previous year for the...
A) Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019...
A) Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000 3rd Quarter 2019 4,000 Beginning finished goods for the first quarter was 1,400 units. The company's policy is to maintain an inventory of finished goods as 20% of the next quarter sales. The production budget for the SECOND quarter is __________. (no dollar signs, decimals or commas) HINT: you must calculate the first quarter in order to calculate the 2nd quarter. B)JTS Corp...
Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000...
Moriarity Company has budgeted the following unit sales: 1st Quarter 2019 7,000 2nd Quarter 2019 3,000 3rd Quarter 2019 4,000 Beginning finished goods for the first quarter was 1,400 units. The company's policy is to maintain an inventory of finished goods as 20% of the next quarter sales. The production budget for the SECOND quarter is __________. (no dollar signs, decimals or commas) HINT: you must calculate the first quarter in order to calculate the 2nd quarter.
Sosa Company has provided the following budget information for the first quarter of 2016 Total sales...
Sosa Company has provided the following budget information for the first quarter of 2016 Total sales $297,500 Budgeted purchases of direct materials 39,450 Budgeted direct labor cost 38,880 Budgeted manufacturing overhead costs: Variable manufacturing overhead 3,645 Depreciation 600 Insurance and property taxes 9,120 Budgeted selling and administrative expenses: Salaries expense 5,000 Rent expense 3,000 Insurance expense 1,200 Depreciation expense 100 Supplies expense 2,975 Additional data related to the first quarter of 2016 for Sosa Company: a. Capital expenditures include $36,000...
The commissions in dollars earned for the first quarter of last year by the 11 members...
The commissions in dollars earned for the first quarter of last year by the 11 members of the sales staff at Master Chemical Company are: 1650, 1475, 1510, 1670, 1595, 1760, 1540, 1495, 1590, 1625, 1510. • Calculate the mean and the standard deviation of the commissions earned. • Calculate the second quartile and the sixth decile.
Bonita Industries estimates its sales at 170000 units in the first quarter and that sales will...
Bonita Industries estimates its sales at 170000 units in the first quarter and that sales will increase by 13000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for $35. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at $5625200. $7820400. $3896900. $6778100.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT