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To examine the effectiveness of its four annual advertising promotions, a mail order company has sent a questionnaire to each of its customers, asking how many of the previous year's promotions prompted orders that would not have otherwise been made. The accompanying table lists the probabilities that were derived from the questionnaire, where X is the random variable representing the number of promotions that prompted orders. If we assume that overall customer behavior next year will be the same as last year, what is the expected number of promotions that each customer will take advantage of next year by ordering goods that otherwise would not be purchased?
A previous analysis of historical records found that the mean value of orders for promotional goods is 34 dollars, with the company earning a gross profit of 22% on each order. Calculate the expected value of the profit contribution next year.
The fixed cost of conducting the four promotions is estimated to be 14000 dollars with a variable cost of 6 dollars per customer for mailing and handling costs. What is the minimum number of customers required by the company in order to cover the cost of promotions? (Round your answer to the next highest integer.)
How many bulbs should be tested so that we can be 90% confident that the estimate of the mean will not differ from the true mean life by more than 10 hours?
Nationwide, the average time until a electric utility customer service representative answers a call is 260 second. The Gigantic Kilowatt Energy Company rnadomly sampled 30 calls and found that, on average, they were answered in 227 second with a ..
CD Camera produces a new camera that it claims can take an average of more than 7 photographs per second. A test of 36 randomly selected cameras yielded the following sample values:
Was your test one-tail upper tail, lower tail, or two-tail? Explain why you chose that kind of test in this situation. Explain what your P-value means in this context.
Do the data provide significant support for any preferences among the three brands? Test At the .05 level of significance.
The following data shows the packages gathered for delivery for ten days and the proportion of packages received not delivered to the customers at expected time.
stratum 3 contains 1,000 invoices, and stratum 4 contains 3,450 invoices. A sample of 500 sales invoices is needed. What type of sampling should you do? Why?
Determine the cost Xs to develop the support system for which the probability of exceeding Xs is equal to 0.01?
The 47 students on a computer studies course each recorded the number of whole minutes, x, spent surfing the internet during a given day. Find the standard deviation SD = σx
The hospital tests five vials from each shipment. If at least one of the five is ineffective, find the conditional probability pf that shipment's having come from C.
The average cost of a gallon of regular unleaded fuel at gas stations nationwide was $3.23, with a standard deviation of $0.23. Assume the national average holds for Connecticut. What is the probability that a sample of 30 gas stations in Conne..
A decade-old study found that the proportion, p, of high school seniors who believed that "getting rich" was an important personal goal was 75%. A researcher decides to test whether or not that percentage still stands.
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