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A local manufacturer uses 2,000 electronic switches boxes a year. Carrying costs are 23% of the cost of the switch per year, and ordering costs are $15 per order. The following price schedule applies. What is the optimal order quantity? Show all total costs calculations and explain your answer.
Number of Switches Price per Switch
0 - 99 $17.50
100 - 999 $17.00
1000 or more $16.50
Ski Resorts of Vermont, Inc. is considering a merger with Gulf Shores, Inc. of Alabama. The board of directors surveyed 50 stockholders concerning their position on the merger.
What are the input and the output of linear regression, and what does the coefficient of determination measure and what is the purpose of measuring correlation?
Determine whether the following are demonstrative definitions, enumerative definitions, definitions by subclass, synonymous definitions, etymological definitions, operational definitions, or definitions by genus and difference.- "Universe" origina..
Many predictions about the future come from regression equations. Use the following data from the Statistical Abstract of the United States.
Her students this semester can be considered a sample from the population of all students she might teach, so she compares their mean score with 72.
Explain which would be of more interest in each of the following situations-the probability distribution function or the cumulative probability distribution function for X. If you think both would be of interest, explain why.
Federal administration stated that unemployment level in US is 8.6% (population proportion = 0.086). A hypothesis test is to be performed to decide whether unemployment level in NY State differs from national level.
Assume the population is normally distributed and use a t-distribution to construct a 99% confidence interval for the population mean μ. What is the margin of error of μ? Interpret the results.
An environmental group is suing a manufacturer because chemicals dumped into a nearby river may be harming fish. A sample of fish from upstream (no chemicals).
Hits on a personal web site occur quite infrequently. They occur randomly and independently with an average of five per week.
Find the probability that a random selection of 9 songs will have mean length of 186.30 seconds or less. Assume distribution of the lengths of the songs is normal.
Explain what these terms mean in describing the distribution of the sales reps' salaries.
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