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The manager of a Burger Doodle franchise wants to determine how many sausage biscuits and ham biscuits to prepare each morning for breakfast customers. The two types of biscuits require the following resources:
Biscuit Labor Sausage Ham FlourSausage (X1) 0.010 0.10 0.00 0.04Ham (X2) 0.024 0.00 0.15 0.04
1. I dentify and explain ther shadow prices for each resource constraints.2. Which resource constaints profit the most3. Identify the sensitivity ranges for the profit of a sausauge biscuit and the amount of saisage available. Explain these sensitivity ranges
If a manager wishes to develop a confidence interval estimate for estimating the difference between two population means, an increase in the size of the samples used will result in:
Why is population shape of concern when estimating a mean? What does sample size have to do with it?
Create a hypothesis and perform a series of tests to determine if there is any fundamental difference in the findings.
Four young children were monitored closely over a period of several weeks to measure how much they watched violent television programs and their amount of violent behavior toward their playmates.
Suppose that the probability is 1 in 3,900,000 that a single auto trip in the U.S. would result in the death of the driver. Over a lifetime, an average U.S. driver takes 50,000 trips.
Compute the value of t. What is your decision regarding the null hypothesis?
Testing for population mean - What happens as you use different levels of significance? Different values of the standard deviation?
Describe whether the data appear to be approximately normally distrusted by .. a. Comparing data characteristics to theoretical properties.
You are interested in knowing if there is a statistical difference in driving speeds between Day 1 and Day 10. Which statistical test would be appropriate? Why?
If random samples, each with n = 9 scores, are selected from a normal population with µ = 80 and σ = 36, then what is the expected value for the distribution of sample means?
Describe the types of probability -example of classical probability, empirical probability, or subjective probability.
Think of your favorite casino game (craps, black-jack, roulette, etc) and analyze the probabilities of a few different outcomes.
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