Long-time friends, Pat and Tom, agree on many things, but not the outcome of the American League pennant race and the World Series. Pat is originally from Boston, and Tom is from New York
They have a steak dinner bet on next year's race, with Pat betting on the Red Sox and Tom on the Yankees. Both are convinced they will win. What probability assessment technique is being used by the two friends?A) Subjective probability
B) Classical probability
C) Relative frequency probability
D) Independent probability
A
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Mealer, Inc has prepared its third quarter budget and provided the following data
Jul Aug Sep Cash collections $51,000 $39,500 $46,600 Cash payments: Purchases of direct materials 31,000 21,500 17,000 Operating expenses 12,000 9,000 11,300 Capital expenditures 13,500 24,600 0 The cash balance on June 30 is projected to be $4,500. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of September. A) $21,584 B) $6,584 C) $8,367 D) $54,967
Non-conforming use is a term used in reference to property that
A) extends over lot lines. B) is in need of deferred maintenance. C) doesn't comply with current zoning requirements but may have been grandfathered in. D) has not been recorded.