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A consumer advocate group has contacted us about a new line of fluorescent light bulbs manufactured by Bright Ideas, Inc. The company claims their new bulbs have an average lifespan of at least 10,000 hours with a standard deviation of 1,700 hours and have agreed to send us a shipment of 32 bulbs for our examination. We will assume the manufacturer's claims are true and that the lifespans of the bulbs are normally distributed. Suppose we randomly select one of the bulbs from the shipment. i. Find the probability that the lifespan of the bulb will be less than 6,500 hours. Interpret your result. ii. Find the probability that the lifespan of the bulb will be somewhere between 9,000 and 13,000 hours. Interpret your result. iii. Find the probability that the lifespan of the bulb will be more than 12,000 hours. Interpret your result. iv. What lifespan represents the third quartile? Interpret your result. v. What lifespan represents the 95th percentile?
Assume that the country possesses 50,000 units of capital and 25,000 units of labor. What is Y What is labor productivity computed from the per-worker production function Is this value the same as labor productivity computed from the original prod..
some fields have large enough quantities of both oil and natural gas that coordination must be achieved for production of both, rather than oil alone as in our examples. will field with both oil and gas have greater difficulties in unitization tha..
a. Find the uniform continuous probability for P(X 645) for U(0, 1,000). c. Find the uniform continuous probability for P(30
Suppose that fixed costs increase by $50 but the prevailing market price remains unchanged. Using algebra determine the effects of this change in cost on the profit maximizing output and the optimal profit. Do you see any change from your answer t..
Now, suppose workers come from two distinguishable groups, A and B, and there are no systematic productivity differences between the two groups. However, firms believe that ¾ of A workers are type H and only ¼ of B workers are type H.
Assume that CAPM holds, Your goal is to create a portfolio of stocks X, Y, and the risk-free asset. The beta of the portfolio is P = 0:70. X has a beta of 1:5 and Y has a beta of 2:0. Expected return of Y is 10% more than the expected return of X...
Knockoff Inc. produces what it regards as a low-quality digital camera. However, because the market is so new, reputations for quality have not yet developed, and consumers cannot tell the quality difference between an Ajax digital and a Knockoff ..
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
Roger believes the colors chosen by customers who special-order their cars best reflect most customers' true color preferences. He has taken a random sample of 40 special orders for Mustang coupes placed in the past year. The new color options are..
Let X = the monthly tons of dirt moved and assume that it does not change with time. Draw the cash flow diagram for this project as a function of X. Assume that "up" arrows are savings or revenue and down arrows are expenses. If you cannot do part..
When the colts won the super bowl the demand for peyton manning's jersey was: P = 210 - 0.002Q with a corresponding marginal revenue of: MR = 210 - 0.0004Q IF the marginal cost of producing a jersey is $10, how much are the trademark licensing rig..
We have three variables, Information is 2000-2005. I use OLS to Determine the model and get a standard result.
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