Scores of high school students on a national calculus exam were normally distributed with a mean of 86 and a standard deviation of 4 . (Total possible points = 100.) What is the probability that a randomly selected student will have a score of 80 or higher?
0.9332
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A mixed-model line produces several items belonging to the same family
Indicate whether the statement is true or false
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year 1Cash$37,500 $36,850 Short-term investments 90,000 90,000 Accounts receivable, net 85,500 86,250 Merchandise inventory 121,000 117,000 Prepaid expenses 12,100 13,500 Plant assets 388,000 392,000 Accounts payable 113,400 111,750 Net sales 711,000 706,000 Cost of goods sold 390,000 385,500
A. 3.05. B. 1.98. C. 2.26. D. 1.88. E. 2.95.
Austin Company, which experiences considerable seasonal variation in its activity and has a high level of fixed costs, is preparing a bid for a project. This particular project will be done during a slack period of the year.Required:A. How should the fixed costs be handled in the bidding approach to this project?B. Assume that the company wins the bid and performs the job on a profitable basis, consistent with the results as projected in the bid. Several months later, the customer contacts Austin and requests a bid to do another job. This project, however, must be done during a peak season. How should Austin's management respond? How do you think the customer will respond?
What will be an ideal response?
If a firm's fixed financial costs decrease, the firm's operating breakeven point will ________
A) decrease B) increase C) remain unchanged D) change based on the sale price per unit