The following statistics represent weekly salaries at a construction company.
Mean $550. First quartile $480
Median $630 third quartile $700
Mode $605. 91st percentile $891
The most common salary is ?
The salary that half the employees salaries surpass is ?
The percent of employees salary that serve because $700 is ?
Percent of employees salaries that were less than $480 is
The percent of employees salaries this surpass $891 years
if the company has 104 is the total weekly salary of all employees he is $?

I don't know how to solve the questions

Answers

Answer 1

Answer:

The most common salary is $605. The salary that half the employees salaries surpass is $630. The percent of employees salary that serve because $700 is 75%. Percent of employees salaries that were less than $480 is 25%. The 9% percent of employees salaries this surpass $891 years. The total weekly salary of 104 employees is 57200.

Step-by-step explanation:

It is given that mean is $550, first quartile is $480,  median is $630, third quartile is $700,  mode is $605 and 91st percentile is $891.

First quartile is at 25% of the data, median is at 50% of the data, third quartile is at 75% of the data.

The mode of a set of data values is the value that occurs most often.

The most common salary is mode, therefore the most common salary is $605.

The salary that half the employees salaries surpass is $630. Because median is the half of the data.

The percent of employees salary that serve because $700 is 75%. Because $700 is third quartile.

Percent of employees salaries that were less than $480 is 25%. Because $480 is first quartile.

The percent of employees salaries this surpass $891 years is 9%. Because $891 is 91 percentile. Therefore 9% employees get more than $891.

If the company has 104 employees than the total salary of employees is

[tex]104\times 550=57200[/tex]

because means is $550, therefore the total weekly salary of 104 employees is 57200.

Answer 2

The most common salary is [tex]605USD[/tex].

The salary that half the employees' salaries surpass is [tex]630USD[/tex].

The percent of employees salary that serves because [tex]700USD[/tex] is [tex]75[/tex]%.

The percent of employees' salaries that were less than [tex]480USD[/tex] is [tex]25[/tex]%.

The [tex]9[/tex]% percent of employees' salaries surpass [tex]891USD[/tex] years.

The total weekly salary of [tex]104[/tex] employees is [tex]57200[/tex].

Given Mean is [tex]550USD[/tex], the first quartile is [tex]480USD[/tex].

The Median is [tex]630USD[/tex], the third quartile is [tex]700USD[/tex], the Mode is [tex]605 USD[/tex] and the [tex]91st[/tex] percentile is [tex]891USD[/tex].

The first quartile is at [tex]25[/tex]% of the data, the median is at [tex]50[/tex]% of the data, the third quartile is at [tex]75[/tex]% of the data.

The mode of a set of data values is the value that occurs most often, So the most common salary is a mode, therefore the most common salary is [tex]605USD[/tex].

As the median is half of the data, the salary that half of the employees' salaries surpass is [tex]630USD[/tex].

Given that [tex]700USD[/tex]  is the third quartile, so the percent of employees ' salary that serves

The Percent of employees' salaries that were less than is % as  first quartile.

The percent of employees salaries this surpass $891 years is [tex]9[/tex] %. Because [tex]891USD[/tex] is [tex]91[/tex] percentile. Therefore more than [tex]891USD[/tex].

If the company has [tex]104[/tex] employees then the total salary of employees is

[tex]104\times550=57200[/tex] because means is [tex]550USD[/tex], therefore the total weekly salary of [tex]104[/tex] employees is [tex]57200 USD[/tex].

Therefore, the most common salary is [tex]605USD[/tex]. The salary that half the employees' salaries surpass is [tex]630USD[/tex]. The percent of employees salary that serves because [tex]700USD[/tex] is [tex]75[/tex]%. The percent of employees' salaries that were less than [tex]480USD[/tex] is [tex]25[/tex]%.The [tex]9[/tex]% percent of employees' salaries surpass [tex]891USD[/tex] years and the total weekly salary of [tex]104[/tex] employees is [tex]57200[/tex][tex]USD[/tex].

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Related Questions

With the beam being held still at a height of 40 m, the crane breaks and the beam falls to the ground. Assuming no air resistance, how much total energy will the beam have just as it hits the ground?

Answers

Final answer:

The total energy of the beam just as it hits the ground would be equivalent to the initial potential energy when it was held at a height of 40 m, assuming no air resistance.

Explanation:

The question is about understanding the concept of conservation of energy, specifically the transformation of potential energy to kinetic energy. When the beam was held at a height of 40 m, it had potential energy given by the formula:

PE = mgh

where m is the mass of the beam, g is the acceleration due to gravity, and h is the height. Assuming no air resistance, when the beam falls, all of its potential energy will be converted to kinetic energy, which can be determined by the formula:

KE = 1/2 mv^2

However, as we don't know the exact speed of the beam just as it's hitting the ground, we don't need it because the total energy remains constant. So, just as the beam hits the ground the total energy will be the same as the initial potential energy when it was still.


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If 7-y=6 then y =what

Answers

y = 1

7 - y = 6
-y = -1
y = 1

7 - 1 = 6

Answer:

-29

Step-by-step explanation:

The Correct Answer:

A.  -29

Square both sides of the equation.

7−y−−−−√

 

=

 

6

 

 

(7−y−−−−√)2

 

=

 

(6)2

 

 

7−y

 

=

 

36

 

 

−7

 

−7

 

Subtract 7 from both sides

−y

 

=

 

29

 

 

y

 

=

 

−29

 

 

7−(−29)−−−−−−−−√

 

=?

 

6

 

Check your answer

7+29−−−−−√

 

=?

 

6

 

 

36−−√

 

=?

 

6

 

 

6

 

=

 

6

 

So  m=−29  is a solution.

Assume that a procedure yields a binomial distribution with n trials and the probability of success for one trial is p. use the given values of n and p to find the mean muμ and standard deviation sigmaσ. ​also, use the range rule of thumb to find the minimum usual value mu minus 2 sigmaμ−2σ and the maximum usual value mu plus 2 sigmaμ+2σ.

Answers

A binomial distribution is an experiment where there are two outcomes; Success and failure. For instance, you are given n = 128 and p = 0.27. The formula for the variance of a binomial distribution is n*p(1 – p) or n*p*q*. They are equivalent because q = 1- p. We will use the first equation.

 

Variance = n*p*(1 – p)

Variance = 128*0.27*(1 – 0.27)

Variance = 25.23

 

To get the standard deviation, find the square root of the variance.

Standard deviation = sqrt (Variance)

Standard deviation = sqrt (25.23)

Standard deviation = 5.02

Find the arc length of the curve on the given interval. (round your answer to three decimal places.) parametric equations interval x = 6t + 5, y = 7 − 7t −1 ≤ t ≤ 3

Answers

[tex]\displaystyle\int_{-1}^3\sqrt{\left(\frac{\mathrm dx}{\mathrm dt}\right)^2+\left(\frac{\mathrm dy}{\mathrm dt}\right)^2}\,\mathrm dt[/tex]

[tex]x=6t+5\implies\dfrac{\mathrm dx}{\mathrm dt}=6[/tex]
[tex]y=7-7t\implies\dfrac{\mathrm dy}{\mathrm dt}=-7[/tex]

[tex]\displaystyle\int_{-1}^3\sqrt{36+49}\,\mathrm dt=\sqrt{85}(3-(-1))=4\sqrt{85}[/tex]

The arc length of the curve on the given interval −1 ≤ t ≤ 3 with parametric equation x = 6t + 5 and y = 7 − 7t −1 is 4√85.

What is integration?

It is the reverse of differentiation.

The arc length of the curve on the given interval.

Parametric equations interval

x = 6t + 5,  −1 ≤ t ≤ 3

y = 7 − 7t,  −1 ≤ t ≤ 3

We know that the parametric form of the arc length will be given as

[tex]\rm \int _{-1}^3 \sqrt{(\dfrac{dx}{dt})^2 + (\dfrac{dy}{dt})^2} \ dt[/tex]

Then we have

[tex]\rm \dfrac{dx}{dt} = 6\\\\\dfrac{dy}{dt} = -7[/tex]

Then the arc length will be

[tex]\rightarrow \rm \int _{-1}^3 \sqrt{(3)^2 + (-7)^2} \ dt\\\\\rightarrow \sqrt{85} [t]_{-1}^3 \\\\\rightarrow 4 \sqrt{85}[/tex]

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HELLPP PLEASEEE ASAP


The rule for G -1(x) in G(x)=3x-5/4 is G^-1(x)=

(4x-5)/3
(4x+5)/3
(3x+5)/-4

Answers

y=(3x-5)/4
To find the inverse, flip x and y and solve for y.

x=(3y-5)/4
4x=3y-5
4x+5=3y
(4x+5)/3=y

Final answer: B

Answer:

(4x+5)/3=y

Step-by-step explanation:

:)

How Do You Sell More Walnuts In A Perfectly Competitive Market?
If the equilibrium price in a perfectly competitive market for walnuts
is $4.99 per pound,then an individual firm in this market can

A. Not sell additional walnuts unless the firm lowers its price.
B. Not sell additional walnuts at any price because the market is at equilibrium.
C. Sell an additional pound of walnuts at $4.99.
D. Sell more only by increasing its advertising budget.
the subject is Economics.

Answers

C I'm pretty sure is the answer.

a patient requires 30% decrease in the dosage of the medication her current dosage is 340 MGS what will the dosage be after the decrease

Answers

a 30 % decrease means u r giving 70%
0.70(340) = 238 MGS

Answer:

The dosage will be 238 MGS after decrease.

Step-by-step explanation:

The current dosage of the medication of the patient = 340 MGS

patient requires 30% decrease in the dosage of the medication.

Now her new dosage after decrease = 340 -(30% × 340)

                                                              = 340 -(0.30 × 340)

                                                              = 340 - 102

                                                              = 238 MGS

The dosage will be 238 MGS after decrease.

what is the point slope form of an equation with the slope of 3/5 that passes through the point (10,-2)

Answers

[tex]\bf \begin{array}{lllll} &x_1&y_1\\ % (a,b) &({{ 10}}\quad ,&{{ -2}})\quad % (c,d) \end{array} \\\\\\ % slope = m slope = {{ m}}= \cfrac{rise}{run} \implies \cfrac{3}{5} \\\\\\ % point-slope intercept y-{{ y_1}}={{ m}}(x-{{ x_1}})\implies y-(-2)=\cfrac{3}{5}(x-10)\\ \left. \qquad \right. \uparrow\\ \textit{point-slope form} \\\\\\ y+2=\cfrac{3}{5}(x-10)[/tex]

Tina wants to save money for school. Tina invests 400$ in an account that pays interest rate of 8%. How many years will it take if her goal is 5500$

Answers

To determine the number of years it would take for money to reach a certain amount, we need to know the type of interest of the problem. As a general rule, when it is not stated clearly in the problem, we assume that it is a simple interest problem since it is the basic type of interest. We use the formula for the future value for simple interest rate. It is expressed as:

F = P (1 + i )^n        where F is the future value, P is the present value, i is the interest rate, and n is the number of years

We calculate as follows:
5500 = 400 (1 + .08 )^n
55/4 = (1 + .08)^n
n = 34.06 years

5. Simplify (15x2 – 24x + 9) ÷ (3x – 3) = ?

Answers

The likelihood is that because we've been told to divide the quadratic by a linear expression, it may perfectly factorize and the linear expression is, in fact, one of the two factors so we can use it to find the other factor by inspection:
3x would have to multiply by 5x to get the 15x² term in the quadratic.
-3 would have to multiply by -3 to get the 9 term in the quadratic.
The second factor would, therefore, be (5x - 3) if the linear divisor is actually a factor. In this case, it is, which we can confirm by expanding.
15x² - 24x + 9 = (3x - 3)(5x - 3)
So:
(15x2 – 24x + 9) ÷ (3x – 3) = 5x - 3

Help me please!! SOS!!

Answers

Perimeter= 54
Area=162
Cost=648
1a.

P = 2(L+W) = 2(9+18) = 2(27) = 54
answer 
P = 54 ft

1b.

A = LxW = 9x18 = 162 ft^2
answer
162 ft^2

1c.

$4 x 162 = $648
answer
it will cost $648

What is the volume of an oblique cone with radius 9 cm and height 12 cm?

972π cm3


486π cm3


648π cm3


324π cm3

Answers

the correct answer is the fourth one 324\pi cm3
[tex]V = \frac{1}{3}\pi \cdot r^{2}h[/tex]
[tex] = \frac{1}{3}\pi \cdot 81\cdot 12[/tex]
[tex] = \frac{972\pi}{3}[/tex]
[tex] = 324\pi (cm)^{3}[/tex]

Marisa hiked 1 3/4 miles and 3/4 hours at that rate how far can she hike in one hour

Answers

(1 3/4) / (3/4) = x / 1.....1 3/4 miles to 3/4 hrs = x miles to 1 hr
cross multiply
(3/4)(x) = (7/4)(1)
3/4x = 7/4
x = 7/4 * 4/3
x = 28/12
x = 2 1/3 miles in 1 hr <==

Answer:

2.33 miles/hour

Step-by-step explanation:

If Marisa hiked a distance of 1 3/4 miles in a time of 3/4 hours we can determine her speed as miles per hour. Speed is defined as the distance(d) per time(t). Let speed equal to v:

[tex]v=d/t[tex]

We can determine the decimal numbers of the distance and time:

1 3/4 = 7/4 = 1.75 miles

3/4 = 0.75 hours

∴ [tex]v=1.75/0.75=2.33[/tex]

Marisa can hike 2.33 miles per hour.

Bari Jay, a gown manufacturer, received an order for prom dresses from China. Her cost is $35 a gown. If her markup based on selling price is 79%, what is the selling price of each gown?

Answers

Final answer:

To calculate the selling price of a gown with a cost of $35 and a markup of 79%, convert the markup to a decimal, subtract from 1, and divide the cost by this number. The selling price is $166.67 per gown.

Explanation:Calculating the Selling Price with Markup

The problem involves finding the selling price of a gown given the cost and the markup based on selling price. Markup based on selling price is calculated using the formula: Selling Price = Cost / (1 - Markup Percentage), where the Markup Percentage is expressed as a decimal. Here, the cost of a gown is $35, and the markup based on the selling price is 79%. Let's calculate the selling price.

Convert the markup percentage to a decimal by dividing by 100: 79% / 100 = 0.79.Subtract the markup percentage as a decimal from 1: 1 - 0.79 = 0.21.Divide the cost by the result to find the selling price: $35 / 0.21 = $166.67.

The selling price of each gown is $166.67.

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Find an approximation of the area of the region R under the graph of the function f on the interval [-1, 2]. Use n = 6 subintervals. Choose the representative points to be the left endpoints of the subintervals. f(x) = 7 - x2

Answers

The approximation of the area of the region R under the graph of the function is 18.625 square units.

In this question we must calculate the approximate area ([tex]A[/tex]) below the curve by means of Riemann sums with left endpoints, whose expression is described below:

[tex]A = \Delta x \cdot \Sigma\limits^{n-1}_{i=0} f(a + i\cdot \Delta x)[/tex], for [tex]x \in [a,b][/tex] (1)

[tex]\Delta x = \frac{b-a}{n}[/tex] (2)

Where:

[tex]a[/tex] - Lower bound[tex]b[/tex] - Upper bound[tex]n[/tex] - Number of subintervals[tex]i[/tex] - Index

If we know that [tex]a = -1[/tex], [tex]b = 2[/tex], [tex]n = 6[/tex] and [tex]f(x) = 7 - x^{2}[/tex], then the approximate area is:

[tex]\Delta x = \frac{2-(-1)}{6}[/tex]

[tex]\Delta x = 0.5[/tex]

[tex]A = 0.5\cdot [f(-1) + f(-0.5)+f(0)+f(0.5)+f(1)+f(1.5)][/tex]

[tex]A = 0.5\cdot (6+6.75+7+6.75+6+4.75)[/tex]

[tex]A = 18.625[/tex]

The approximation of the area of the region R under the graph of the function is 18.625 square units.

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What is the slope of a line that passes through the following points (-3,8) and (2,1)

Answers

[tex]\bf \begin{array}{lllll} &x_1&y_1&x_2&y_2\\ % (a,b) &({{ -3}}\quad ,&{{ 8}})\quad % (c,d) &({{ 2}}\quad ,&{{ 1}}) \end{array} \\\\\\ % slope = m slope = {{ m}}= \cfrac{rise}{run} \implies \cfrac{{{ y_2}}-{{ y_1}}}{{{ x_2}}-{{ x_1}}}\implies \cfrac{1-8}{2-(-3)}\implies \cfrac{1-8}{2+3}\implies \cfrac{-7}{5}[/tex]

Hello!

Step-by-step explanation:

Slope: [tex]\frac{Y^2-Y^1}{X^2-X^1}=\frac{rise}{run}[/tex]

[tex]\frac{1-8=-7}{2-(-3)=2+3=5}=\frac{-7}{5}=-\frac{7}{5}[/tex]

Slope is -7/5

Answer is -7/5

Hope this helps!

Thanks!

-Charlie

:)

:D

A company that creates model cars uses a 1.5 foot : 1 inch ration when creating the models. If a real car is 12 feet long, how long will the model car be?

Answers

I believe the answer would be 8 inches.

how many cubic blocks of side length 1/7 inch would it take to fill a cube with a side length of 3/7 inch?

Answers

Volume of the larger cube =(3/7)^3=27/343 cubic units

Volume of the small cubes=(1/7)^3=1/343 cubic units
Number of cubes=Volume of larger cube/Volume of small cubes
Number of cubes=(27/343) / (1/343)  cubes = 27/1 = 27

In the middle of the page draw a equilateral triangle with 2 inch sides and the bottom parallel to the of the page

Answers

The sum of the angle of a triangle is 180 degrees. If you are to draw a pattern of equilateral triangles then you know that an equilateral triangle has three equal sides. Also, its angles are the same, having 60 degrees at each corner of the triangle. A triangle cannot qualify as an equilateral triangle if it is greater than 180 degrees or less than 180 degrees as a total angle. Also if a triangle that has no two right angles, then it is called a scalene triangle.  If the triangle has two right angles, it is called isosceles triangle. A triangle with equal sides is called an equilateral triangle.

Solve for x & y. 30x−42y=−6 and 5x−7y=−1

Answers

Um.. Both of those equations are the exact same. Divide both sides of the first equation by 6. You get:

[tex] \frac{30x - 42y}{6} = \frac{-6}{6} \\ 5x - 7y = -1 [/tex]

That is the exact same as the second equation. This system has an infinite number of solutions. 5x - 7y = -1 is a line, so basically every point on that line is a solution to the system.

For example, [tex] x = 0 [/tex] and [tex] y = \frac{1}{7} [/tex] would work, but so would [tex] x = 1 [/tex] and [tex] y = \frac{6}{7} [/tex]

A chemist is using 353 millimeters of a solution of acid and water. If 16.5% of the solution is acid, how many millimeters of acid are there? Round your answer to the nearest tenth.

Answers

16.3%=0.163

353(0.163)=57.539

57.539 is rounded to 57.5

There are 57.5 millimeters of acid. Hope this helps!

Brainiest To Best Answer: Are Guidance Counselors allowed to lie or give false information about a class and force a math-genius to take an intensive math class? I took Algebra I Honors, Geometry Honors, and Algebra II Honors and scored in the 99th percentile on their EOCs and aced the classes. For my 10th grade year, my Guidance Counselor claimed that for my blank-period, I should take "Advanced Math Topics" because I would get 2 math credits that year (Pre-Calculus Honors was the other class I was taking). The Guidance Counselor did not mention it being an intensive class and this class was only for those who fail their math classes, exams, or other national math-portion of tests. It would look horrible for a math-major to have taken an intensive math class and would look weird that I was also taking a high-level math course at the same time. When we were informed about this, we were outraged and research does suggest that having such a class on your transcript will eliminate the possibility for getting into a good competitive college or getting the scholarship for out-of-state colleges in academics. I took many extra-classes and aced them online and we want to have this class removed from our transcript considering the fact that by rules, they cannot place a student performing as well as I am into a class lower than the classes previously taken. Do you agree with this? We are bringing this to the District Officer and the class was so basic, that I would be the only one in the class getting an A, "100%" every test and I would finish the questions in 5-10 minutes at most for any classwork given. Was the Guidance Counselor wrong to do this? What consequences might he face for this and will we be compensated for these troubles or have this transcript recording of this intensive class removed, exempt, or clarified?

Answers

Yeah, I agree - your counselor shouldn't suggest a class you literally shouldn't be able to take

Final answer:

Guidance counselors should not mislead students; it is worthwhile to challenge placement of a high-achieving math student in an unnecessary remedial class and seek to correct the record.

Explanation:

Guidance counselors should provide accurate information to students regarding class choices, particularly for students excelling in certain subjects like math.

It seems inappropriate for a counselor to enroll a high-achieving student in an intensive class designed for remediation without discussing the nature of the class and reviewing the student's academic history and test scores.

There may be rules or guidelines, possibly at the district level, outlining the circumstances under which a counselor can place a student in a specific class. If these procedures were not followed, bringing the issue to the attention of a District Officer is reasonable.

The aim would be to correct the student's academic record, ensuring it reflects their true capabilities and doesn't unfairly disadvantage them in future educational or scholarship opportunities. Corrective actions could include exemption, removal, or clarification of the intensive math class on the student's transcript.

The counselor in question may face a review of their practices or disciplinary action if they are found to have acted against established policies. However, the outcome will depend on the investigation conducted by the school district.

domain and range of x^2+x-2/x^2-3x-4

Answers

x^2+x-2/x^2-3x-4
x €R but -1,4
For clarity, please enclose the denominator in parentheses:  (x^2-3x-4).

This is a rational function whose DOMAIN is "all real numbers for which the denominator is not zero."  Purposely set the denom. equal to zero and solve for x.  Answers:  {4,-1}.  Thus, the domain is "the set of all real numbers not equal to 4 or -1."  This can be written as (-infinity,-1) U (-1,4) U (4, infinity).

RANGE:  the set of all possible values of this rational function.  Please note that if we let x grow larger and larger, the value of this function approaches, but never equals, 1.  Thus, the RANGE is (-infinity, 1) U (1, infinity).


Suppose a $75,500 mortgage is to be amortized at 6.5% interest. Find the total amount of interest that would be paid for a 40 year term. What is the amount of interest for a 40 year mortgage?

Answers

Use the formula of the present value of annuity ordinary to find the monthly payment of the loan
The formula is
Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]
Pv present value 75500
PMT monthly payment?
R interest rate 0.065
K compounded monthly 12
N time 40 years
So we need to solve for pmt
PMT=Pv÷[(1-(1+r/k)^(-kn))÷(r/k)]
PMT=75,500÷((1−(1+0.065÷12)^(
−12×40))÷(0.065÷12))
=442.02 (this is the monthly payment)

Now find the amount of interest
Total interest=total paid-present value

Present value=75500
Total paid
442.02×12months×40years
=212,169.6

Total interest=212,169.6−75,500
=136,669.6

The answer is 136,669.6


The sales tax in Bill's state is 6%. Bill bought a Scion having a sales tax of $820. What was the cost of the car, rounded to the nearest dollar.

Answers

I'm not sure how you're supposed to do it, but that how I did it.

Change 6% to a decimal. So, $.06.
Then divide .06 by the actual tax. 820/$.06= 13666.66666666666666666666666666.... Round $13666.67.
To check, multiply the answer by the tax which is
$.06, to get $820.

What is the arc measure of an arc with length 4.189 cm and radius equal to 3 cm.'?

Answers

Given that the arc length is 4.189 cm and the radius is 3 cm, the size of the arc will found as follows;
C=theta/360 πd
suppose:
size  of arc=theta=x
d=3*2=6 cm
hence;
4.189=x/360*π*6
4.189=0.0524x
x=4.189/0.0524
x=80.004°
The size of the arc length is 80.004°

Mick and LaToya have some shirts. The ratio of the number of shirts Mick has to the number of shirts LaToya has is 3:8. If they have a total of "k" shirts, how many fewer shirts does Mick have than LaToya?

Answers

This is the concept of algebra, given that Latoya and Mick have shirts that total up to k shirts, and the ratio of shirts that Mick has to Latoya is 3:8, then to solve our question we proceed as follows;
total ratio is :
3+8=11
thus the number of shirts Mick has is:
3/11*k=3/11k
The number of shirts Latoya has is:
8/11k
To calculate how many more shirts Latoya has compared to Mick we proceed as follows;
8/11k-3/11k
=5/11k
The answer is 5/11k

Write this number in standard form. 12 ten thousands, 8 thousands, 14 hundreds and 7 ones

Answers

12 ten thousand 8 thousand 14 hundreds 7 ones

A firm has $100 of average inventory, operating profit of $500 and sales of $1,500. its days in inventory is:

Answers

Days in invetory meDays in Inventory measures the average number of days it takes to turn inventory to sales.
To get the days in inventory the formula is :Days in Inventory = 365/Inventory Turnover
To get the Inventory Turnover the formula is : Inventory Turnover Ratio= Cost of Goods/ [(Beginning Inventory Balance + Ending Inventory Balance)/2]
Beginning Inventory Balance: $100Ending Inventory Balance: $500Cost of Goods/Sales: $ 1500
Inventory Turnover Ratio = 1500/ [(100+500)/2]Inventory Turnover Ratio = 1500/300Inventory Turnover Ratio = 5
Days In Inventory = 365/5Days In Inventory = 73

Answer: 73 days

The inventory in days is 36.5 days

Further Explanation:

Inventory Turnover Ratio:  It is an activity ratio which measure of how suitably a company is handling its inventory to generates sales. The inventory turnover ratio is calculated as:

[tex]\text{Inventory Turnover Ratio}=\dfrac{\text{Cost of goods sold}}{\text{Average Inventory}}[/tex]

 

Calculate the days in inventory:

[tex]\begin{aligned}\text{Days in inventory}&=\dfrac{\text{365}}{\text{Inventory Turnover Ratio}}\\&=\frac{365}{10}\\ &=36.5\text{days}\end{aligned}[/tex]

 

Therefore, the inventory in days is 36.5 days  

Working note 1:

Calculate the cost of goods sold:

[tex]\begin{aligned}\text{Cost of goods sold}&=\text{Sales}-\text{Operating profit}\\ &=\$1,500-\$500\\ &=\$1,000\end{aligned}[/tex]

Working note 2:

Calculate the inventory turnover ratio:

[tex]\begin{aligned}\text{Inventory Turnover Ratio}&=\frac{\text{Cost of goods sold}}{\text{Average Inventory}}\\ &=\frac{\$1000}{\$ 100}\\ &=\$10\end{aligned}[/tex]

 

Learn more:

1. the span of control

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2. the percentage of sales method

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3. the sales budget

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Answer details:

Grade: High School

Subject: Financial Accounting

Chapter: Ratio Analysis

Keywords: A firm has $100 of average inventory, operating profit of $500, sales of $1,500, days in inventory.

What's the average of 200 and 300

Answers

To find the average, add both of the numbers and divide by the amount of numbers. For this, it is 200+300=500. Then, 500/2=250. The average is 250. Hope this helps! ;)
The average should be at least 250 because if you add 200+300 that will 500 so it has to be between that amount so the average 250
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