he gross profit for United Parcel Service, Inc. has been increasing steadily for the past several years. The gross profits for UPS are given below. Gross Profit (millions of $) Years 2011 41.827 2012 42,683 2013 43,925 2014 45,874 2015 47,836 (a) What variables are appropriate? O C (gross cost of UPS Inc. in billions of $) and P (gross profit of UPS Inc. in billions of s) Ot (years since 2010) and C (gross cost of UPS Inc, in billions of s) Ot (years since 2010) and R (gross revenue of UPS Inc. in billions of s) O C (gross cost of UPS Inc. in billions of s) and R (gross revenue of UPS Inc. in billions of s) O t (years since 2010) and P (gross profit of UPS Inc. in billions of s) (b) Find an equation for a model of these data. (Use the first and last values in the table to calculate your equation. Round the slope and the vertical intercept to one decimal place. Note that you may have to adjust your model based on the definitions in part (a Select-- (2) Give a reasonable domain and range for this model. domain O (-10, 10] O [11, 15] O (-, co) O (0, 20] O -2. 8) range O 141.9, 47.8]
Addition Rule of Probability
It simply refers to the likelihood of an event taking place whenever the occurrence of an event is uncertain. The probability of a single event can be calculated by dividing the number of successful trials of that event by the total number of trials.
Expected Value
When a large number of trials are performed for any random variable ‘X’, the predicted result is most likely the mean of all the outcomes for the random variable and it is known as expected value also known as expectation. The expected value, also known as the expectation, is denoted by: E(X).
Probability Distributions
Understanding probability is necessary to know the probability distributions. In statistics, probability is how the uncertainty of an event is measured. This event can be anything. The most common examples include tossing a coin, rolling a die, or choosing a card. Each of these events has multiple possibilities. Every such possibility is measured with the help of probability. To be more precise, the probability is used for calculating the occurrence of events that may or may not happen. Probability does not give sure results. Unless the probability of any event is 1, the different outcomes may or may not happen in real life, regardless of how less or how more their probability is.
Basic Probability
The simple definition of probability it is a chance of the occurrence of an event. It is defined in numerical form and the probability value is between 0 to 1. The probability value 0 indicates that there is no chance of that event occurring and the probability value 1 indicates that the event will occur. Sum of the probability value must be 1. The probability value is never a negative number. If it happens, then recheck the calculation.
![C (gross cost of UPS Inc. in billions of $) and R (gross revenue of UPS Inc. in billions of $)
O E (years since 2010) and P (gross profit of UPS Inc. in billions of $)
(b) Find an equation for a model of these data. (Use the first and last values in the table to calculate your equation. Round the slope and the vertical intercept to one decimal place. Note th
-Select-
() Give a reasonable domain and range for this model.
domain
O (-10, 10]
O [11, 15]
O -0, 0)
O [0, 20]
O [-2, 8]
range
[41.9, 47.8]
O [-50, 50]
[37.3, 52.3]
[0, 100]
O (-o, co)
(d) What is the slope of your model? Explain its meaning in this situation. (Round your slope to one decimal place. Do not include units in your answer.)
The slope is
This means that the gross profit for UPS Inc.
--Select---
by about that value in billions of dollars each year.
(e) Estimate the gross profit for UPS in 2019. (Round your answer to the nearest tenth of a billion dollars. Include units in your answer. More information.)
In 2019, the profit for UPS Inc. will be
(f) What is the vertical intercept for this model? (Round your answers to one decimal place.)
(t, P) =
What does it mean in this situation? (Round the second answer to the nearest tenth of a billion dollars. Include units in your second answer. More information.)
In the year
the profit for UPS Inc. was about](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35c28fdb-7a6d-4bfc-bcea-3e5968caf59d%2F8dbc1931-bdfb-4243-a24b-ad98b1d396f0%2Fkdgpjzw_processed.jpeg&w=3840&q=75)
![he gross profit for United Parcel Service, Inc. has been increasing steadily for the past several years. The gross profits for UPS are given below.
Gross Profit
Years
(millions of $)
2011
41,827
2012
42,683
2013
43,925
2014
45,874
2015
47,836
(a) What variables are appropriate?
O C (gross cost of UPS Inc. in billions of $) and P (gross profit of UPS Inc. in billions of $)
Ot (years since 2010) and C (gross cost of UPS Inc, in billions of s)
O t (years since 2010) and
(gross revenue of UPS Inc. in billions of s)
O C (gross cost of UPS Inc. in billions of $) andR (gross revenue of UPS Inc. in billions of $)
O t (years since 2010) and P (gross profit of UPS Inc. in billions of 5)
(b) Find an equation for a model of these data. (Use the first and last values in the table to calculate your equation. Round the slope and the vertical intercept to one decimal place. Note that you may have to adjust your model based on the definitions in part (a).)
-Select-
(c) Give a reasonable domain and range for this model.
domain
O [-10, 10]
O [11, 15]
O (-0, co0)
O [0, 20]
O [-2, 8]
range
O [41.9, 47.8]
O [-50, 50]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35c28fdb-7a6d-4bfc-bcea-3e5968caf59d%2F8dbc1931-bdfb-4243-a24b-ad98b1d396f0%2Fq500m8_processed.jpeg&w=3840&q=75)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
