Reference no: EM13966226
1. Color blindness appears in 2% of the people in a certain population. How large must a random sample be in order to be 99% certain that a color-blind person is included in the sample?
2. A shirt manufacturer knows that, on the average, 2% of his product will not meet quality speci?cations. Find the greatest number of shirts constituting a lot that will have, with probability 0.95, fewer than ?ve defectives.
3. A random sample of size 100 is taken from a population with mean 1 and variance 0.04. Find the probability that the sample mean is between 0.99 and 1.
4. The lifetime X (in hours) of a certain electrical component has the pdf f(x) = (1/3)e-(1/3)x,x > 0. If a random sample of 36 is taken from these components, ?nd P(X 2).
5. A drug manufacturer receives a shipment of 10,000 calibrated "eyedroppers" for administer- ing the Sabin poliovirus vaccine. If the calibration mark is missing on 500 droppers, which are scattered randomly throughout the shipment, what is the probability that, at most, two defective droppers will be detected in a random sample of 125?
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Explain to concerned shareholders and employees
: How would you explain to concerned shareholders and employees why it is so important that the CEO receive a multimillion-dollar salary package? How much input would you give company employees in making a decision on executive pay?
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Briefly present the facts of the controversy
: In a 250 word brief essay research the recent Volkswagon diesel emissions scandal, briefly present the facts of the controversy, then explain why you believe the actions taken by the government to protect the environment have been adequate or lacking..
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Sampling distribution of the sample mean
: Let the population be given by the numbers {-2, -1, 0, 1, 2}. Take all random samples of size 3. (a) Without replacement, obtain the following in each case. (i) The sampling distribution of the sample mean.
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Optimal order quantity using the fixed-order-quantity model
: If annual demand is 34,560 units, the ordering cost is $48 per order, and the holding cost is $0.65per unit per year, which of the following is the optimal order quantity using the fixed-order-quantity model?
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Find the greatest number of shirts
: A shirt manufacturer knows that, on the average, 2% of his product will not meet quality speci?cations. Find the greatest number of shirts constituting a lot that will have, with probability 0.95, fewer than ?ve defectives.
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How does price allocate goods and services
: If a firm can increase its total revenue by raising the price, shouldn't it do so? Explain your answer. How does price allocate goods and services? Why is it important for managers to understand the concept of break-even points? Are there any drawba..
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Different types of inter-organizational relationships
: According to Daft, in Organization Theory and Design 12 Ed., Describe the different types of inter-organizational relationships for modern organizations. Explain the resources dependence and collaborative relationships, and strategies to be adopted t..
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What is another term meaning the degree of operating leverag
: In the linear breakeven model, the relevant range of output is that range where the linearity assumptions of the model are assumed to hold.
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Calculate the output gap as a percentage of potential gdp
: Data on real GDP and potential GDP for the United States for the years 2003-2013, in billions of 2009 dollars. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansion..
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