Question
In: Math
Suppose that the fuel price at a specific gas station consists of : A fixed government...
Suppose that the fuel price at a specific gas station consists of :
A fixed government fuel excise of $0.416/L
Wholesale costs for supplier, which average $0.712/L, with a variance of 0.10.
Retail costs (including profit margin) at an average of $0.212/L, with a variance of 0.0012.
a) Find the average total fuel cost on any given day
b) Given that wholesale and retail costs have a correlation of 0.7, find the variance in total fuel price
c) Assuming that the total fuel price is normally distributed, what is the probability of fuel being priced at less than $1/L on any given day?
Solutions
milcah answered 1 year agoRelated Solutions
A fuel gas consists of 75% butane (C4H10), 10% propane (C3H8) and 15% butene (C4H8) by...
A fuel gas consists of 75% butane (C4H10), 10% propane (C3H8)
and 15% butene (C4H8) by volume. It is to be fed to the combustion
chamber in 10% excess air at 25ºC, where it is completely burnt to
carbon dioxide and water. The flue gases produced are to be used to
generate 5 bar steam from water at 90ºC.
(a) Determine the maximum flame temperature.
(b) If 5% of the heat available for steam production is lost to
the atmosphere,...
A fuel gas consists of 75% butane (C4H10), 10% propane (C3H8) and 15% butene (C4H8) by...
A fuel gas consists of 75% butane (C4H10), 10% propane (C3H8)
and 15% butene (C4H8) by volume. It is to be fed to the combustion
chamber in 10% excess air at 25ºC, where it is completely burnt to
carbon dioxide and water. The flue gases produced are to be used to
generate 5 bar steam from water at 90ºC. With the aid of the data
at the end of the question, steam tables and the enthalpy table
given in the...
Suppose that the daily demand for regular gasoline at a gas station is normally distributed with...
Suppose that the daily demand for regular gasoline at a gas
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demand?
Select one:
a. 836
b. 872
c. 1,128...
why do you believe natural gas is government preferred fuel for power generation?
why
do you believe natural gas is government preferred fuel for power
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Once you enter a 0 for the type of fuel your program should stop
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A hydrostatic system consists of 0.1 moles of an ideal gas whose specific heat capacity at...
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9 motorists purchased diesel.
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Confidence interval:
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Consider a closed economy with no government, a fixed price level, a fixed interest rate and...
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(2)
b. What is induced expenditure at equilibrium?
(2)
Now suppose that investment increases to
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Fueleconomy.gov, the official US government source for fuel economy information, allows users to share gas mileage...
Fueleconomy.gov, the official US government source for fuel
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