The owner of a seafood market determined that the average weight for a crab is 1.6 pounds with a standard deviation of 0.4 pound
Assuming the weights of the crabs are normally distributed, what is the probability that a randomly selected crab will weigh more than 2.2 pounds?
Answer: 0.0668
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Hewlett-Packard (HP) is the world's leading marketer of inkjet printers. HP's printers are priced very low and margins are slim; by contrast, the company enjoys healthy margins on sales of replacement ink cartridges. This approach is sometimes known as "razors and blades" pricing.
Indicate whether the statement is true or false
A contingency was evaluated at year-end and considered to have a remote possibility of becoming an actual liability. If this was not reported on the balance sheet or in the notes to the financial statements, what effect would this have on the financial reporting of the company?
A) There would be no effect. B) The liabilities on the balance sheet would be understated. C) The information about the transaction would be inadequately disclosed in the notes. D) The net income of the company would be understated.
A company borrowed $21,000 by signing a 90-day promissory note at 12%. The total interest due on the maturity date is: (Use 360 days a year.)
A. $2520.00 B. $630.00 C. $945.00 D. $52.50 E. $315.00
After consideration of a customer's request for a partial product refund due to repeated repairs, you have determined that you should comply. Which of the following is NOT part of your effective adjustment message?
a. A fair response to a legitimate request b. A statement that "the claim is being granted" c. Resale or sales promotional material d. An attempt to regain possible lost goodwill