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You are working on an analysis of your company's current cost structure reviewing the various fixed and variable costs within your firm. Your objective is to maximize your firm's profit. In reviewing your current sales you are confident that you will reach a sales level of 40,000 units. Your fixed costs are presently $500,000 with a variable cost per unit of $25 per unit and a sales price of $43 Your options are:
a. Increase your fixed costs by $50,000 which will decrease variable costs by $8 per unit.b. Sell off $100,000 of your fixed costs which will increase your variable costs by $12 per unit.c. Decrease your sales price by $5 in order to increase sales by 5,000 units. Which of the above alternatives would your choose to increase profits?
According to state government, the monthly incomes of college graduates have a standard deviation of $650. A county official believes that the standard deviation of monthly incomes is higher in her county.
Research question: Are mean crash damages same for these 3 vehicles? Crash1 Crash Damage ($).
Discuss how the empirical rule helps explain the ways in which the values in a set of numerical data cluster and distribute. Regarding probability, discuss the differences between mutually exclusive events and collectively exhaustive events.
If samples of size 224 were repeatedly selected from the population of children born to mothers with HIV antibody, what would be the mean number of infected children per sample?
For a disease such as pancreatic cancer, which is highly fatal and of short duration:
Five homes were recently sold in Oxnard Acres. Four of the homes sold for $400,000 while the fifth home sold for $2.5 million. Which measure of central tendency best represents a typical home price in Oxnard Acres?
A survey of Ohio University students was conducted to determine if there was a particular Green that was desired by students to live on. A sample of students responses are reproduced below. Do students prefer a particular Green? Use critical value..
Doctors nationally believe that 68% of a certain type of operation are successful. In a particular hospital 47 of these operations were observed and 37 of them were successful. At a = 0.05 is this hospital's success rate different from the nationa..
What is a one-tailed test? What is a two-tailed test? Explain at least three differences between one- and two-tailed tests. State a hypothesis related to this study that would cause you to conduct a one-tailed test. State a hypothesis related to th..
Given a normal distribution with a population mean of 100, a standard deviation of 10 and a sample size of n = 25, what is the probability that X is
On basis of these data, can college conclude that students in new program performed significantly better than rest of freshman class? Use a one-tailed test with α = .05.
What is the probability that the person will be hospitalized for a drug-related problem, given that the person has received the PMI sheet?
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