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A summer sports wear retailer has a very short selling season, so only gets one chance to order each of his goods. One of these has a history of selling an average of 200 items, with a standard deviation of 20. If he wants to maximize his profits, how many should he order? He buys the item for $30 and sells it for $75. After the season, he can sell what is left to a discount house for $20.
Determine the average amount of time that a guest spends checking in. How would this change under each of the state options?
A random sample of 85 group leaders, supervisors, and similar personnel at General Motors revealed that, on the average, they spent 6.5 years on the job before being promoted.
Another day, it took Eric only 12 minutes to get to work. Using the same formula, determine the z value. Is it positive or negative? Explain why it should be positive or negative.
Why then does it matter whether we assume straight-line or MACRS depreciation when we assess project NPV?
The average height of flowering cherry trees in a nursery is 11 feet. If the heights are normally distributed with a standard deviation of 1.6, find the probability that a randomly selected cherry tree in this nursery is less than 13 feet tall.
Multiple choices based on regression analysis - how much or how many but instead is assigned values to represent categories
State the quick rule for a significant correlation and explain its limitations. What sums are needed to calculate a correlation coefficient? What are the two ways of testing a correlation coefficient for significance?
Frequently, tests that yield abnormal results are repeated for confirmation. What is the probability that for a normal person a test will be at least 1.5 times as high as the upper limit of normal on two separate occasions?
Based on a sample of 49 students, Healthy Lifestyles Incorporated (HLI) would like to apply the central limit theorem to ma ke various estimates. a) Compute the standard error of the sample mean. (Round your answer to 2 decimal places.)
A business has 5 telephone lines. The first rings every minute on the average, the second every ½ minute, the third every 2 minutes, the fourth every 5 minutes,
What decision should be made regarding the null hypothesis?
The mean monthly income of the trainees of an engineering firm is $600, with a standard deviation of $100. Find the probability that an individual trainee earns less than $500 per month.
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