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You have been chosen to consult for your local girl scout troop with regards to cookie sales. Currently cookies sell for $8 a box (let's assume they are all the same price) and cost $2 per box to produce. The price-deman function looks as follows: Demand per customer = 35 - 2.5*Price.
The $8 price is the profit optimizing price for the current sales model of $8 per box. Determine the following:
What is the profit per customer currently?
What would the profit per customer be if you introduced a two part tariff, where by you charge a fixed cost to the customer to place an order and then a separate price per box?
According to industry specifications, the standard deviation of gasket thicknesses for a given application must be no more than 3 thousandths of an inch.
Good musicians can detect an unacceptable bow weight, i.e., a weight that differs from the mean by more than two standard deviations. What is the probability that a bow weight is unacceptable?
The analysis needs to be re-run adding the error into the regression sum of squares.
Is there any evidence that the true mean decibel level produced by smoke alarms in this city is less than 85? Use a = 0.01 and compute the p value to draw a conclusion.
A medical researcher found a significant relationship among a person's age x1, cholesterol level x2, sodium level of the blood x3, and systolic blood pressure y.
A researcher was interested in the emotional effects of music on exam performance. Before their exam, a professor took one group of students into a room in which calming music was played.
Visit the CDC National Center for Health Statistics to explore national vital statistic results with a focus on birth rates, death rates and cancer rates. Next, explore the vital statistics in you respective state health departments.
Is the sample evidence sufficient to conclude which suburb spends more? To answer this question,perform a two-sided hypothesis test at = .05. State the alternative and null hypotheses, computethe observed significance level (p-value), and state t..
a sample of 90 women is obtained and their heights in inches and pulse rates in beats per minute are measured. the
Your response must not exceed 1500 words excluding bibliography, index and cover page. Edit your paper for grammar and sentence structure before submission. Font size and style is not relevant.
A. What is the 90% confidence interval for the daily sales at all restaurants. B. What is the probability that the average sales are really $32,000 or more per day? Assume that the population average is $30,000 per day and the std. Deviation is $2..
What is the probability that the person does not work in wholesale or retail trade?- What is the probability that the person does not work in education nor medical?
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