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After Plowing Through Contracts for a Decade, the Contract Writer

question 92

Essay

After plowing through contracts for a decade, the contract writer knew about how long it took to crank out the material necessary to satisfy a contract's requirements. The distribution could be modeled using the data provided in this table.
 Number of  Weeks  Random  Number Range 2053615416355368068199\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Weeks }\end{array} & \begin{array} { c } \text { Random } \\\text { Number Range }\end{array} \\\hline 2 & 0 - 5 \\\hline 3 & 6 - 15 \\\hline 4 & 16 - 35 \\\hline 5 & 36 - 80 \\\hline 6 & 81 - 99 \\\hline\end{array}
-If the first four random numbers are 17, 33, 64, and 8, what is the average number of weeks?

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Definitions:

Common-Size Balance Sheet

A balance sheet where each line item is expressed as a percentage of total assets, facilitating comparison across periods or companies.

Balance Sheet

A financial statement that reflects the financial position of a company at a specific point in time, detailing assets, liabilities, and owners' equity.

Vertical Analysis

A method of financial statement analysis where each entry for a given period is presented as a proportion of a fixed line item.

Total Assets

The sum of all assets owned by a company, including cash, inventory, and property.

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