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Suppose you work for a company that manufactures electronics. The development analysts estimate that 2% of their flagship product will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $1500.
How much should they charge for a 2 year extended warranty so that they will still make money selling the extended warranties in the long run and keep the cost of the warranties as low as possible to make them more marketable?
Write up your proposal to the VP of marketing and promotions with enough explanation that someone from our class could understand it.
Furthermore, assume that the standard deviation of the population is $0.14. The value of the test statistic for this hypothesis test and the p-value respectively are?
Jointsoft is a great over-the-counter arthritis medication, but who will ever know about it? Unfortunately, many people with arthritis tend to be elderly and rather immobile, so advertisers of arthritis medications face limitations in ways to get ..
What does confidence interval tell you? What does it mean? What 2 things can a researcher do to decrease width of a confidence interval? What are the effects?
Use α = 0.10 and assume that the population is normally distributed. Write a paragraph that interprets the test's decision.
Five digit random numbers (e.g.; 601, 022, 448...), determine the first four elements that will be selected for the simple random sample.
Suppose that the population of heights of female college students is approximately normally distributed with mean m of 66.24 inches and standard deviation s of 5.07 inches.
Find the margin of error for the 95% confidence interval used to estimate the population proportion.
Determine the probability that the project will be completed in 80 days or less.
There are 400 employes and 100 of them smoke. There are 250 males working for the company and 75 of them smoke. What is probability of an emloye selected random?
What is the procedure involved in performing hypothesis tests and discuss the business uses of time series forecasting.
Calculating the mean, do you expect it to be greater than the median or less than the median. Why?
The company will replace any printer that fails during the guarantee period. How long should speedy jet printers be guaranteed if the company wishes to replace no more than 15% of the printers?
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