A grocery store is reevaluating the retail price of their oranges. They have a contract where they canpurchase oranges for $0.52 per pound. However, this includes high quality oranges (about 40% of the time),low quality oranges (55%), and occasionally rotten fruit (5%). Suppose they sell 80% of all high quality orangesat $1.99 per pound, 65% of all low quality oranges at $1.49 per pound (they offer a sale), and they cannot sellany of the rotten fruit.What is the store's expected profit from a random shipment of 500 pounds of oranges? We do not considerpersonnel and other overhead costs, only the wholesale cost of the oranges. (Give your answer as a number,no dollar sign included.)

Answered: Image /qna-images/answer/b1571816-e5d4-4eae-a775-c6f3922e75cf.jpg

Answered: A grocery store is reevaluating the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

The question is in the image
8. The Magpie restaurant pays its servers $250 a week plus tips, which average $10 per table. The Trap seafood restaurant pays $100 per week but the average tip per table is $12. How many tables have to be served so that the weekly income at this restaurant is the same as The Magpie weekly income?
Your banker has analyzed your company account and has suggested that her bankhas a cash management package for you. She suggests that with a concentrationbanking system, your float can be reduced by three days on average. You, of course,are delighted (you’re not sure why), but you do know your average daily collectionsamount to $305,000. Your opportunity cost of funds is 9 percent. The bankprovides this service for $52,500 plus a compensating balance in your currentaccount of $75,000. (A compensating balance is the amount you are required tomaintain interest free at that bank.) Is this package worth it? If so, by how much?
3. If Jonesville's sewer charges are 70% of the water bills and this changes to 60% of the water bills, what is the percent reduction (relative) in sewer charges?
3. Tamir has recently begun a new job of selling custom bracelets! Tamir's sales have been growing every week and now he is looking to analyze his profit. Specifically, Tamir is looking to find how much his cost of goods is for his business of selling bracelets. Luckily, Tamir sells each bracelet for the same price and has recorded that when he sold 4 bracelets he made a $39 profit, when he sold 9 bracelets he made a $94 profit. a. Write an equation in point slope form that could model this scenario. b. Which of the following could be the graph of Tamir's profit? Explain how you know. Graph 1: Graph 2: + +
chapter 5 10. A buyer plans to purchase 250 towels for the store's harvest sale and to retail each towel for $7.50. He has placed an order for 128 towels that cost $3.25 each. What is the most he can pay for each of the remaining towels if he wishes to average a 42% markup? Present your answer with a dollar-sign, comma separator, and rounded to the penny (i.e. $1,250.88).
in to Clever https://media.aese.. Question 8/10 > NEXT A BOOKMARK V CHECK ANSWER 8 A $250 gaming system is discounted by 25%. It was then discounted another 10% because the box was opened by a customer. a. The sale price of the gaming system is $ b. After both discounts are taken, the total percent discount is %.
FARO Technologies, whose products include portable 3D measurement equipment, recently had 26 million shares outstanding trading at $45 a share. Suppose the company announces its intention to raise $290 million by selling new shares. How large a loss in dollar terms will existing FARO shareholders experience on the announcement date, based on studies that show losses are 30% of the size of the new issue? Note: Enter your answer in millions without a sign. What percentage of the value of FARO’s existing equity prior to the announcement is this expected loss? Note: Round your answer to 1 decimal place. At what price should FARO expect its existing shares to sell immediately after the announcement? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
Dan is interested in selling an item online. Listed are the prices from other people online selling the same item: 32.18, 33.10, 33.68, 34.34, 35.42, 35.9, 36.89, 37.11, 37.54. He wants to sell the same item at a price below the 30% prices that are listed above. What price should he list the item for online?
4. A computer system de preciates at an average rate of 4% per month. If the value of the computer system was originally $1200, in how many months will it be valued at $750?
2. Rini prefers red M&Ms over any other color. The Mars Company, makers of M&Ms, claims that 20% of all M&Ms are red. Rini plans to remove M&Ms from her bag one at a time until she gets her first red. How many M&Ms should she expect to remove?
b) Problem: Calculate the 7% tax on a purchase of $25. Solution: 10% of $25 is $2.50, so 5% is $1.25. 1% of $25 is 25 cents, so 2% is 50 cents. This means 7% is $1.25 plus 50 cents, which $1.75. ht Rotate Markup Seareh 7% $25 = 29/1 ol ebriogzTIO tont yems as WEI0 () erit bes yen 21 worle of 29lsnsbn balsdel ylhisn6 (anlog Al (atob c) Problem: What is 110% of 62? Solution: 100% of 62 is 62 and 10% of 62 is 6.2, so all together it's 68.2. 110% 62% D Messages OCT 26 MacBook Air చిక ి.

SEE MORE QUESTIONS

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS