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##### Module 1 assignment

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Question;Module I;The Retread Tire Company recaps;tires. The fixed annual cost of the recapping operation is \$ 60,000. The;variable cost of capping tires is \$9. The company charges \$25 to recap a tire.;a) For an annual volume of 120,000;tires, determine the total cost, total revenue, and profit.;b) Determine the annual break-even;volume for the Retread Tire Company operation.;4) Evergreen Fertilizer Company;produces fertilizer. thecompany's fixed monthly cost is \$25, 000 and its;variable cost perpound of fertilizer is \$0.15. Evergreen sells the fertilizer;for\$0.40 per pound. Determine the monthly break-even volume for thecompany.;10. A large;research hospital has accumulated statistical data on its patients for an;extended period. Researchers have determined that patients who are smokers have;an 18% chance of contracting a serious illness such as heart disease, cancer;or emphysema, whereas there is only a.06 probability that a nonsmoker will;contract a serious illness. From hospital records, the researchers know that;23% of all hospital patients are smokers, while 77% are nonsmokers. For;planning purposes, the hospital physician staff would like to know the;probability that a given patient is a smoker if the patient has a serious;illness.;12. The Senate consists of 100 senators, of whom 34 are;Republicans and 66 are Democrats. A bill to increase defense appropriations is;before the Senate. Thirty-five percent ofthe Democrats and 70Va of the;Republicans favor the bill. The bill needs a simple majority to pass. Using a;probability tree, determine the probability that the bill will pass.;14 A metropolitan school system consists of;three districts?north, south, and central. The north district contains 25% of;all students, the south district contains 40%, and the central district;contains 35%. A minimum-competency test was given to all students, 10% of the;north district students failed, 15% of the south district students failed, and;5% of the central district students failed.;a. Develop a probability tree showing all;marginal, conditional, and joint probabilities.;b. Develop a joint probability table.;c. What is the probability that a student selected;at random failed the test?

Paper#60715 | Written in 18-Jul-2015

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