High Temperatures in a Certain City for the Month of August

question 49

Multiple Choice

High temperatures in a certain city for the month of August follow a uniform distribution over the interval 64°Fto 92°F. What is the probability that a randomly selected August day has a high temperature that exceeded69°F?

• A) 0.8214
• B) 0.1786
• C) 0.4423
• D) 0.0357

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Definitions:

Deferred Income Taxes

Taxes applicable on income that is recognized in financial statements in one period but is taxable in another period.

Income Taxes Payable

Income taxes payable is a liability account on a company's balance sheet representing the amount of income taxes that the company owes to the government but has not yet paid.

Discount on Bonds Payable

The difference between the face value of a bond and the lower price at which it is sold, representing additional interest expense to the issuer over the bond's life.

Interest Expense

Costs incurred by an entity for borrowed funds, which are recognized on the income statement.