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1.The Rutter Nursery Company packages their pine bark mulch in 50-pound bags. From a long history, the production department reports that the distribution of the bag weights follows the normal distribution and the standard deviation of this process is 3 pounds per bag. At the end of each day, Jeff Rutter, the production manager, weighs 10 bags and computes the mean weight of the sample. Below are the weights of 10 bags from today's production. 45.6, 47.7, 47.6, 46.3, 46.2, 47.4, 49.2, 55.8, 47.5, 48.5
A. Can Mr. Rutter concludes that the mean weight of the bags is less than 50 pounds? Use the .01 significance level.
B. In a brief report, tell why Mr. Rutter can use the z distribution as the test statistic.
C. Compute the p-value.
Your retirement goal is to save $400,000 by the time you are 65 years old. You have been saving $926.65 per year for the last 30 years, and you will retire in 5 years (at age 65). The interest rate has just changed from 12% (which has been the level ..
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Consider the following sequence of prices for a currency futures contract. Each contact involves 10,000 units of the foreign currency. The initial and maintenance margin requirements are USD 800 and USD 500, respectively.
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Triton Company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies:
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Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.49 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be w..
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