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A manufacturer of a new, less expensive type of light bulb claims that this product is very well made and even more reliable than the higher priced competitive light bulbs. In order to examine the manufacturer's claim, a random sample of 50 bulbs is tested for length of life. The results are the following.
Sample Size = 50Sample Mean = 5,200 hoursSample Standard Deviation = 500 hours
a. Compute the 99% confidence interval for the mean life of this new type of light bulb.
b. Interpret this interval.
c. How many light bulbs should be tested, if the manufacturer wants to be 99% confident of being within 100 hours of the population mean life?
Describe the meaning of a Nash Equilibrium when companies are competing with respect to price. Explain why is the equilibrium stable?
Find the dollar weighted (simple interest) yield rate and the time weighted yield of the account for this year.
In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy.
Barbara and Juanita, Two basketball players, are best offensive players of the school's team. They know if they work together offensively-feeding the ball to each other,
Question: If you were to roll a single die 10 times, the result of each roll would be __________ A) Mutually exclusive of the other nine rolls B) Proportional to the other nine rolls
In a study to estimate the portion of residents in a certain city and its suburbs who favor the construction of a nuclear power plant, it is found that 63 of 100 urban residents favor the construction while only 59 of 125 suburban residents are in..
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
In an experimental study of the effects of exercise on stress, participants are randomly assigned to either the no exercise or the exercise conditions. Identify what type of study this is-between-, within-, or matched-participants. In addition, id..
A hat contains three coins - one gold, one silver and one copper. You will select coins one at a time without replacement until you choose the gold coin. The outcome of interest is the sequence of coins that are selected during this process.
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
For a class activity, your group has been assigned the task of generating a quiz question that requires use of formula for conditional probability to compute P(B/A).
The following payoff matrix represents long run payoffs for 2-duopolists faced with the option of purchasing or leasing buildings to use for production.
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