Question

The Spaaaarkling Toothpaste Company sells its product in 250 milliliter (ml) tubes. Due to a problem...

The Spaaaarkling Toothpaste Company sells its product in 250 milliliter (ml) tubes. Due to a problem at the manufacturing plant, the individual tubes in a particular shipment have a mean amount of only 195 ml, a standard deviation of 38 ml, but still follow a Normal distribution. A store receives the defective shipment and offers to sell at a discount: 3 of the defective tubes for the price of 2.

  1. In the defective shipment, what is the standard deviation of the average amount of toothpaste for all possible samples of 3 tubes?

    equation editor

    Equation Editor (round this answer to exactly four decimal places, and use the rounded result for the rest of the problem).
  2. If you take advantage of the sale and purchase 3 tubes (assumimg this to be a Simple Random Sample from the defective shipment), what is the probability that the average amount of toothpaste in your 3 tubes is less than 250 ml?

    equation editor

    Equation Editor (round this answer to exactly four decimal places; do not convert to percent).
  3. If you take advantage of the sale and purchase 3 tubes (assuming this to be a Simple Random Sample from the defective shipment), what is the probability that the average amount of toothpaste in your 3 tubes is more than 167 ml (in other words, you get a better price per ml by taking advantage of the sale)?

    equation editor

    Equation Editor (round this answer to exactly four decimal places; do not convert to percent).

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A company sells sunscreen in 500 milliliter (ml) tubes. In fact, the amount of lotion in...
A company sells sunscreen in 500 milliliter (ml) tubes. In fact, the amount of lotion in a tube varies according to a normal distribution with mean ?=498 ml and standard deviation ?=5 ml. Suppose a store which sells this sunscreen advertises a sale for 5 tubes for the price of 4. Consider the average amount of lotion from a SRS of 5 tubes of sunscreen and find: (a) The standard deviation of the average, ?¯ : (b) The probability that...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 9%. 0 1 2 3 4 Project A...
Pharoah Company sells an ultra-lightweight snowboard that is considered to be one of the best on...
Pharoah Company sells an ultra-lightweight snowboard that is considered to be one of the best on the market. Information follows for Pharoah’s purchases and sales of the ultra-lightweight snowboard in October: Date Transaction Units Unit Purchase Price Unit Sales Price Oct. 1 Beginning inventory 25 $302 10 Purchase 30 309 12 Sale (42) $484 13 Purchase 35 316 25 Sale (45) 494 27 Purchase 20 322 Your answer is incorrect. Try again. Calculate the cost of goods sold and the...
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both in-store and...
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both in-store and online. Random samples of sales receipts were studied for in-store sales and online sales, with the total purchase being recorded for each sale. A random sample of 20 sales receipts for in-store sales results in a mean sale amount of $92.90 with a standard deviation of $22.75. A random sample of 10 sales receipts for online sales results in a mean sale amount of...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 7%. 0 1 2 3 4 Project A...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you...
Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 12%. 0 1 2 3 4 Project A...
Land's Bend sells a wide variety of outdoor equipment and clothing. The company sells both through...
Land's Bend sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 12 sales receipts for mail-order sales results in a mean sale amount of $89.60 with a standard deviation of $17.75. A random sample of 18 sales receipts for internet sales results in...
Problem 6-3A Sekhon Company had a beginning inventory on January 1 of 189 units of Product...
Problem 6-3A Sekhon Company had a beginning inventory on January 1 of 189 units of Product 4-18-15 at a cost of $21 per unit. During the year, the following purchases were made. Mar. 15 472 units at $22 Sept. 4 389 units at $24 July 20 295 units at $23 Dec. 2 118 units at $25 1,180 units were sold. Sekhon Company uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available...
Martinez Company is a multi product firm. Presented below is information concerning one of its products,...
Martinez Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,200 $16 2/4 Purchase 3,200 24 2/20 Sale 3,700 40 4/2 Purchase 4,200 30 11/4 Sale 3,400 44 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ LINK TO TEXT Compute cost of goods sold, assuming Martinez uses: (Round average cost per unit to 4 decimal places, e.g....
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both through mail...
J.J.Bean sells a wide variety of outdoor equipment and clothing. The company sells both through mail order and via the internet. Random samples of sales receipts were studied for mail-order sales and internet sales, with the total purchase being recorded for each sale. A random sample of 16 sales receipts for mail-order sales results in a mean sale amount of $⁢83.10 with a standard deviation of $⁢25.75. A random sample of 12 sales receipts for internet sales results in a...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT