Reference no: EM131805384
Your firm has decided to interview a random sample of 10 customers in order to determine whether or not to change a consumer product.
Your main competitor has already done a similar but much larger study and has concluded that exactly 86% of consumers approve of the change.
Unfortunately, your firm does not have access to this information (but you may use this figure in your computations here).
a. What is the name of the probability distribution of the number of consumers who will approve of the change in your study?
b. What is the expected number of people, out of the 10 you will interview, who will approve of the change?
c. What is the standard deviation of the number of people, out of the 10 you will interview, who will approve of the change?
d. What is the expected percentage of people, out of the 10 you will interview, who will approve of the change?
e. What is the standard deviation of the percentage of people, out of the 10 you will interview, who will approve of the change?
f. What is the probability that exactly eight of your interviewed customers will approve of the change?
g. What is the probability that eight or more of your interviewed customers will approve of the change?
|
Ways which determines our happines
: List three (3) ways that the culture in which we live determines our happiness. Give two (2) examples of ways that you believe culture has affected
|
|
What amount should be recognized as research
: What amount should be recognized as research and development expense in 2011 using U.S. GAAP
|
|
Find the probability that you will do the mass mailing
: You have just sent out a test mailing of a catalog to 1,000 people randomly selected from a database of 12,320 addresses.
|
|
What would be the total production engineering cost per unit
: What would be the total production engineering cost per unit, both fixed and variable, at an activity level of 9,600 machine-hours in a month
|
|
What is the standard deviation of the number of people
: What is the standard deviation of the number of people, out of the 10 you will interview, who will approve of the change?
|
|
Listen to the podcast by kl daly at linkedin
: Listen to the podcast by KL Daly at LinkedIn. 1. How does LinkedIn's Elevate product improve advocacy?
|
|
Find the standard deviation of the number of such repairs
: You expect a mean of 1,671 warranty repairs next month, with the actual outcome following a Poisson distribution.
|
|
What is the entry to record the expiration
: What is the entry to record the expiration of 10% of the options on December 31, 2020
|
|
Developing a schedule for purchasing and storing
: A local auto mechanic is developing a schedule for purchasing and storing part X for the next four quarters.
|