A gas station with only one gas pump employs the following policy: If a customer has to wait to buy the gasoline, the price is $3.50 per gallon. If she does not have to wait to buy the gasoline, the price is $4.00 per gallon. Customers arrive according to a Poisson process with a mean rate of 20 per hour. Service times at the pump have an exponential distribution with a mean of 2 minutes. Arriving customers always wait until they can eventually buy gasoline. Determine the expected price (in $) of gasoline per gallon. Group of answer choices

Answers

Answer 1
Answer:

Answer:

Explanation:

The arrival rate (λ) = 20 customers per hour. Since the service times at the pump have an exponential distribution with a mean of 2 minutes, therefore the service rate (μ) = 60 / 2 = 30 customers per hour.

The probability of the no  customers being in the system(P₀) is given as:

P_0=1-(\lambda)/(\mu) =1-(20)/(30)=1-0.67=0.33

If no customer is in the system we can sell gasoline for $4/gallon to the next customer. The expected price p of gasoline is given by:

P=P_0*4+(1-P_0)3.5=0.33*4+(1-0.33)3.5=1.32+2.345=3.665

P = $3.665 per gallon


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Rouge Company’s $250,000 net income for the quarter ended September 30 included the following after-tax items:A $20,000 cumulative effect loss resulting from a change in inventory valuation method made on September 1.$0 of the $60,000 annual property taxes paid on February 1.For the quarter ended September 30, the amount of net income that Rouge should report is:_______.a. $235,000.b. $250,000.c. $255,000.d. $270,000.

Answers

Answer:

c. $255,000

Explanation:

Rouge should report the following income for this quarter = $250,000 (net income) + $20,000 (cumulative effect loss) - $15,000 (25% of annual property taxes) = $255,000

Cumulative effects on inventory valuation occur when overstate or understate your inventory levels, which directly affects cost of goods sold and overall profits.

Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '-', equity. Common Accounts Receivable Cash Dividends Revenues Expenses Assets Stock Unearned Revenues Accounts Liabilities Payable 2 Enter the missing value to balance the equation. E25,000 38,000 38,000 35,000. 28,000 22,000 30,000-48,000 +31,000 2,000 - 39,000 32.000 25,000 31.000 39,000 3 Identify the part of the expanded accounting equation for each account title. Prepaid Insurance Common Stock Dividends Insurance Expense Accounts Payable Service Revenue 4 Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Credit Debit Normal Balance Accounts Receivable Dividends Common Stock + + + + Insurance Expense Rent Payable Interest Revenue + + + + + + Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Liabilities Assets Beginning of Year: $27,000 $15,000 End of Year: $60.000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Ending Equity Beginning Equity 3) If the company issues common stock of $6,300 and pay dividends of $37,300, how much is net income (loss)? 4) If net income is $1,100 and dividends are $6,000, how much is common stock? Net Income (Loss) Common Stock 5) If the company issues common stock of $19,600 and net income is $19,100, how much is dividends? 6) If the company issues common stock of $42,900 and pay dividends of $3,400, how much is net income (loss)? Dividends Net Income (Loss)

Answers

The answers for the subdivisions are given below and are explained. Explanation:

1)

it consists of a table refer the attachment

it has the list of asserts, liabilities and common stock

2)

(i) 32000

(ii) 11000

(iii) 38000

3)

The table in attached, it explains the prepaid expenses , common stock , dividends , insurance expenses ,  Insurance expenses, Accounts payable, service revenue.

4)

Refer the tables are attached it explains the Accounts receivable, common stock, rent payable. insurance expense , interest revenue and dividends.

5)

1.Equity at the beginning of the year = 27000 - 15000 = 8000

2. Equity at the end of the year 60,000 - 27,000 = 33000

3. Increase in equity = 33000 - 8000 = 25000

Net Income = 25000 + 37300 - 6300 = 56000  

4. Common stock = 25000 + 6000 - 1100 = 29900  

5. Dividends = 19600 + 19100 - 25000 = 13700

6. Net Income = 25000 + 42900 - 3400 = 64500

Assume that product Alpha and product Beta are both priced at $1 per unit and that Ellie has $20 to spend on Alpha and Beta. She buys 8 units of Alpha and 12 units of Beta. The marginal utility of Alpha is 40 and the marginal utility of Beta is 20. This indicates that: A.Ellie should make no change in consumption
B.Given another dollar, Ellie should buy an additional unit of Beta
C.In order to maximize utility, Ellie should buy more of Beta and less of Alpha
D.In order to maximize utility, Ellie should buy more of Alpha and less of Beta

Answers

Answer:

D) In order to maximize utility, Ellie should buy more of Alpha and less of Beta

The skill you’re focusing on this week is:

Answers

could you explain some more please

If nominal GDP is $1,200 billion and, on average, each dollar is spent five times in the economy over a year, then the quantity of money demanded for transactions purposes will be?Choices
1,200
6,000
600
240
960

Answers

Out of the choices provided above, it can be concluded to state that the quantity of money demanded for transactions will be $6,000 if the conditions given above with respect to the nominal GDP are satisfied in an economic situation. Therefore, the option B holds true.

What is the significance of nominal GDP?

The nominalGDP of an economy can be referred to or considered as the unit of measurement that is used to represent the final value of finished goods and services, where no adjustments for the prevailing inflation rates are taken into consideration.

The quantity of money demanded can be computed using the given nominalGDP's information as under,

Quantity of Money Demanded = Nominal GDP x Dollar Spending

Quantity of Money Demanded = 1200 × 5

Quantity of Money Demanded = $6,000

Therefore, the option B holds true and states regarding the significance of nominal GDP.

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Answer: 6000



Explanation:

1. Fidelity Corporation offers to hire Ron to replace Mon-ica, who has given Fidelity a month's notice of intent
to quit. Fidelity gives Ron a week to decide whether to
accept. Two days later, Monica signs an employment
contract with Fidelity for another year. The next day,
Monica tells Ron of the new contract. Ron immediately
sends a formal letter of acceptance to Fidelity. Do Fidel-
ity and Ron have a contract? Why or why not? (See Ter-
mination of the Offer.)

Answers

what’s the question? this is all over the place

Final answer:

Ron and Fidelity do not have a contract because the initial offer from Fidelity was terminated when Monica decided to stay. Hence, when Ron accepted, there was no standing offer for a contract.

Explanation:

No, Fidelity and Ron do not have a contract. The reason behind this is the concept of offer and acceptance in contract law. In this scenario, Fidelity Corporation’s offer was terminated when Monica decided to stay, making the earlier offer to Ron void since an employment position no longer existed.

When, Monica signed a new contract, Fidelity Corporation's offer to Ron was effectively withdrawn before Ron could accept it. Therefore, when Ron sent a formal letter of acceptance to Fidelity, there was no offer to accept, making the creation of a contract impossible.

The crux of the situation lies in the basic principles of contract formation, which dictate that a valid contract requires an offer, acceptance, and consideration. In this case, the essential element of offer was missing when Ron attempted to accept, thus, barring the formation of a valid contract.

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