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Hamburger Joe's sells the best burgers in town. The variable unit cost for making one burger is $.97. The fixed cost of making burgers for 12 months will be a total of: $140,000. Remember, fixed costs cover things like your rent, your phone bill, and insurance coverage - these items tend not to vary in amount per month over the term of one year.
If you charge $1.99 for your burger, how many burgers will you have to sell before you make back your total cost?
To find out whether two categorical variables are independent, one should use the.
According to the Insurance Institute of America, a family of four spends between $400 and $3800 per year on all types of insurance. Suppose the money spent is uniformly distributed between these amounts.
What is the probability she received 5 or more email during the same period?
Draw the OC curve. If the average number of defects increased by to 10 per tractor, what would the probability of detecting the shift in a control chart?
What is the probability that at least one of the new books is a commercial success?
What is your conclusion? Are the two variables independent?
Find a 95% confidence interval for the mean amount of money µ spent at the waiter's tables.
Is there evidence that population mean amount is different form 8.17 ounces? (Use a 0.05 level of significance.) with sample standard deviation of 0.051 ounce.
At the .01 significance level can we conclude the mean age is more than 8.4 years for the cars of university students? Compute the value of the test statistic.
An experimenter is randomly sampling 5 objects in order from among 49 objects. What is the total number of samples in the sample space?
Would the method described above be a good way to determine which team was taller (explain why or why not)?
Solution utilizing graphical method. Compute the following linear programming problem. Among which of the following points (X, Y) is not a feasible corner point.
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