Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mark M.Upp has just been fired as the university bookstore manager for setting prices too low (only 20 percent above suggested retail). He is considering opening a competing bookstore near the campus, and he has begun an analysis of the situation. There are two possible sites under consideration. One is relatively small, while the other is large. If he opens at Site 1 and demand is good, he will generate a profit of $50,000. If demand is low, he will lose $10,000. If he opens at Site 2 and demand is high, he will generate a profit of $80,000, but he will lose $30,000 if demand is low. He also has the option of not opening either. He believes that there is a 50 percent chance that demand will be high. Mark can purchase a market research study. The probability of a good demand given a favorable study is 0.8. The probability of a good demand given an unfavorable study is 0.1. There is a 60 percent chance that the study will be favorable. Should Mark use the study? Why? What is the maximum amount Mark should be willing to pay for this study? What is the maximum amount he should pay for any study?
Citrus Rental is a popular car rental agency that has a history of having too few cars available, so that its available cars are overdriven. The mean monthly mileage over the years for Citrus cars has been about 1550 miles per month.
Based on testing, company makes following statement: "Our batteries last the average of 430 to 470 minutes, and our confidence in that interval is 95%" Find out standard deviation and show work.
Comparing the experimental and theoretical probabilities, can you say the die used in this experiment is a fair die? Why or why not?
Pattern that most accurately represents mean, median and mode is?
Suppose that the population of heights of male college students is approximately normally distributed with mean m of 68 inches and standard deviation s of 3.75 inches. A random sample of 16 heights is obtained.
What is the arithmetic mean selling price?
A digital camcorder repair service has set a goal not to exceed an average of 5 working days from the time the unit is brought in to the time repairs are completed. A random sample of 12 repair records showed the following repair (in days)
A company is producing cylindrical blocks for a children's toy. The average diameter of a block is 3.5 inches. Sixteen blocks are inspected and the diameters are measured.
Construct a scatter plot of P-RFM and P-HELM. If drawing the plot by hand, use graph paper to ensure accuracy.
Explain the difference between a left-tailed, two-tailed, and right-tailed test. When would we choose a two-tailed test? How can we tell the direction of the test by looking at a pair of hypothesis?
Statistical aptitude scores are known to be normally distributed, with mean = 50. A researcher has designed a new program intended to improve students statistical aptitude, and has enrolled a sample of 30 students in it.
Significance level to test the claim that less than half (.5) of all executives identify that error as being the most common job interviewing error.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd