Suppose a group of consumers spend 30% of their disposable income on food, 20% on clothing, and 50% on rent. If over the course of a year the price of food rises 10%, the priceof clothing drops 5% and rent rises 15%, what is the average price increase experienced by these consumers?

Answered: Suppose a group of consumers spend 30%…

Suppose a group of consumers spend 30% of their disposable income on food, 20% on clothing, and 50% on rent. If over the course of a year the price of food rises 10%, the price of clothing drops 5% and rent rises 15%, what is the average price increase experienced by these consumers?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A manufacturer’s contribution margin income statement for the year follows. Prepare contribution margin income statements for each of the two separate cases below. Unit selling price decreases by 5% and units sold and produced increase by 8%. Hint: A unit increase has both a sales and costs impact. Fixed costs increase by $20,000, variable costs per unit decrease by $2, and units sold and produced increase by 500 Use the table below to figure out the Sales, Variable Cost, Contribution Margin, Fixed Cost, and Income (loss) of each question.
Assume a company reported the following results: Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 400,000 260,000 140,000 40,000 100,000 Average operating assets $ 500,000 If the company's minimum required rate of return on average operating assets is 16%, its residual income would be: Multiple Choice О $20,000. $21,000. $22,000. $23,000.
Part III- Percentage Problems 1. You decided to begin to save money when you graduated from high school. A couple of years have passed , and you currently have $9.500 saved in your bank account. You have decided to use $4940 to pay for one class you need so it does not delay your graduation date. What percentage of your savings did you use for your class? Show all your work to justify your answer . 2. An organization raises money for students who attend Berkeley College every year. Currently, they have raised $ 25, 160 which represents 37 % of the money they raise. Determine the amount of money the organization will raise in total. Show all your work to justify your answer .
Step 3: Assess the Evidence (Calculate the test statistic for the observed sample mean. Sketch the T-distribution and identify the position of the observed test statistic. Shade the area that represents the P-value. Use the test statistic to find the P-value.)
Jennifer's investment account balance grew from $400 to $432.76 in 5 months. What annual rate of simple interest does her investment pay? O 18.4% 15% O 21.3% esc 19.7% ! 1 NO @ 2 #3 $ 4 % 5 T 6 Y & 7 U * 8 ( ( 9 O ) O P ساسا + 11 { [ = ✔ } 1
In a given year, the U.S. federal income tax owed by a married couple filing jointly can be found from the following table. Married Filing Jointly Taxable Income $0-$18,550 T(x) = $18,551-$75,300 $75,301-$151,900 amount over $75,300 $413,351-$466,950 Tax Rate 10% $1,855 plus 15% of the amount over $18,550 $10,367.50 plus 25% of the $151,901-$231,450 amount over $151,900 $466,951 or more if $29,517.50 plus 28% of the $231,451-$413,350 amount over $231,450 $51,791.50 plus 33% of the $130,578.50 plus 39.6% of the amount over $466,950 (a) For incomes up to $151,900, write the piecewise defined function T with input x that models the federal tax dollars due as a function of x, the taxable income dollars earned. $111,818.50 plus 35% of the amount over $413,350 0 < x≤ 18,550 if 18,550 < x≤ 75,300 if 75,300 < x≤ 151,900 (b) Use the function to find T(40,000). $ (c) Find the tax due on a taxable inco of $90,000. $ (d) A friend tells Jack Waddell not to earn any money over $75,300 because it…
This year, FCF Inc. has earnings before interest and taxes of $9,710,000, depreciation expenses of $1,000,000, capital expenditures of $1,200,000, and has increased its net working capital by $600,000. If its tax rate is 35%, what is its free cash flow? The company's free cash flow is $. (Round to two decimal places.)
5 Imagine that a company sells portable walkie-talkie radios to construction crews. The batteries for these radios last for an average of 55 hours. The purchasing manager for this company receives a brochure in the mail that advertises a new brand of batteries. This new brand of batteries is cheaper than the brand that the company currently uses. However, the purchasing manager is concerned that the cheaper batteries may have a shorter average battery life than the current brand. (Note: The number of hours that batteries last is called their battery life.) The pricing manager installs 40 randomly selected batteries of the cheaper brand in the company's walkie-talkie radios. He finds that the mean battery life for the sample is 52 hours, with a standard deviation of 10 hours. He wants to perform a statistical test at the 1% level of significance to determine whether the cheaper batteries have a shorter average battery life span than the average life span of the brand of batteries the…
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Example 14: The net profit (after taxes) of a firm is 75,000 and its preference dividend is 710,000. Calculara dividend coverage ratio.

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Suppose a group of consumers spend 30% of their disposable income on food, 20% on

clothing, and 50% on rent. If over the course of a year the price of food rises 10%, the price

of clothing drops 5% and rent rises 15%, what is the average price increase experienced by

these consumers?