Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Molly dymond and kathleen taylor are considering the possibility of teaching swimming to kids during the summer. a local swim club opens its pool at noon each day, so it is is available to rent during the morning. the cost of renting the pool during the 10-week period for which molly and kathleen would need it is $1,700. the pool would also charge molly and kathleen an admission, towel services, and life guarding fee of $7 per pupil, and molly and kathleen estimate an additional $5 cost per student to hire several assistants. Molly and kathleen plan to charge $75 per student for the 10-week swimming class.

a)how many pupils do molly and kathleen need to enroll in their class to break even?

b)if molly and kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll?

c) molly and kathleen estimate that they might not able to enroll more than 60 pupils. if they enroll this many pupils, how much would they need to charge per pupils in order to realize their profit goal of $5,000.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M9115383

Have any Question?


Related Questions in Statistics and Probability

A population has a mean of 150 and a standard deviation of

"A population has a mean of 150 and a standard deviation of 21. If a random sample of 49 is taken, what is the probability that the sample mean is between 152.5 and 157.5 using z scores?"

Staples has six special drafting pencils for sale two of

Staples has six special drafting pencils for sale, two of which are defective. A student buys two of these six drafting pencils, selected at random. Let the random variable X be the number of defective pencils. Construct ...

The distance between the y value in the data and the

The distance between the Y value in the data and the predicted Y value from the regression equation is known as the residual. What is the value for the sum of the squared residuals?

A fish tank in a pet store has 23 fish in it 11 are orange

A fish tank in a pet store has 23 fish in it. 11 are orange and 12 are white. Determine the probability that if we select 4 fish from the tank, at least 2 will be white.

You buy 200 shares of stock at 500 per share you receive

You buy 200 shares of stock at $5.00 per share. You receive one dividend of 20 cents per share. You sell the stock two years later for $6.00 a share. Fee for selling the stock online is $15.

Calculate the standard deviation of a portfolio consisting

Calculate the standard deviation of a portfolio consisting of  40 percent stock X and 60 percent stock Y. Company Beta Expected Return Variance Covariance X 1.8 0.18 0.30 COVx,y=0.080 Y 2.6 0.22 0.04 Round to the nearest ...

Assume that the significance level is alpha equals alpha005

Assume that the significance level is alpha equals α=0.05. Use the given statement and find the? P-value and critical? value(s). The test statistic of z equals = -1.53 is obtained when testing the claim that p= 1/6 P-val ...

If an urn1 contains 6purle balls and 4red balls and urn2

If an Urn1 contains 6purle balls and 4red balls. And Urn2 contains 4purple balls and 6 red balls. Urn3 contains 4purple balls and 5red balls. If one of the urns is selected at random and a ball is drawn, what is the prob ...

Aprobability experiment consists of rolling a 6-sided die

A probability experiment consists of rolling a 6-sided die. What is the probability of rolling a number less than 6.

If you are constructing a confidence interval for a

If you are constructing a confidence interval for a population mean, for the same confidence level, the width of the confidence interval will __________ as the sample size increases. Decrease Increase Stay the same Depen ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As