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A video store needs to keep enough recorders in inventory to meet customer demand. But keeping inventories to meet all demand is costly. The manager estimates that 90% of consumer demand for videos will minimize cost. If the monthly demand for videos on average is 180 and standard deviation = 60, what is the number of videos the manager should order to meet 90% customer demand?
A Tech school accepts only those applicants who graduate in the top 10% of their school class. The Average GPA is known to be 2.67 with standard deviation = 0.58. What GPA will a student need to have to be admitted to the Tech school?
Explain the results plot the original data and the fitted regression equations.
The results of a recent poll on the preference of shoppers regarding two products are shown below.
You are given following information on residents' responses, broken down by sex. Determine the probability that resident is a man and opposes the bridge?
The number of cars arriving at Joe Kelly's oil change and tune-up place during the last 200 hours of operation is observed to be the following.
Assume that you plan to use a significance level of ? = .05 to test the claim that p1 =p2. Use the given sample sizes and numbers of successes to find the pooled estimate p. Round to the nearest thousandth
A 95% confidence interval for µ is found to be 652 ± 21.56 = ($630.44, $673.56). Determine which of the following statements is true.
Marconi Shipping Company packages their shipments in 50 ton containers. History has shown that the shipping department reports that the distribution of container weights follows the normal distribution
How can the Binomial and Poisson probability distributions be utilized in solving business and marketing related questions? Identify an example of each.
A 2007 study reported in Science magazine stated that fifth-grade teachers scored a mean of 3.4 (out of 7) points for "providing evaluative feedback to students on their work." Assume that the sample size was 36 and the sample standard deviation w..
The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code.
If you arbitrarily grab 2 socks out of drawer determine the probability that you grab a matching pair?
Team Marketing Report, a sports-business newsletter, estimates that the average total cost for a family of four to attend a major league baseball game is $132.
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