Which scenario assuming normal distribution should you

Reference no: EM13473269

Which scenario (assuming normal distribution) should you select if you want at 95% confidence interval a 16% probability of $2.75 profit per day?
Scenario 1 involved setting the stock level of computers to 20. Over a sample of 1000, this setting produced an average profit of $2.00 per day with zero standard deviation.

Scenario 2 involved setting the stock level to 25. Over a sample of 1000, this setting produced an average profit of about $2.35 per day with standard deviation of about $0.40.

Scenario 3 involved setting the stock level to 30. Over a sample of 1000, this setting produced an average profit of about $2.16 per day with standard deviation of about $1.12.

Scenario 4 involved setting the stock level to 35. Over a sample of 1000, this setting produced an average profit of about $1.29 per day with standard deviation of about $1.72.

Scenario 5 involved setting the stock level to 40. Over a sample of 1000, this setting produced an average loss of about $0.04 per day with standard deviation of about $1.99

Reference no: EM13473269

Questions Cloud

The regression analysis below relates average annual per : the regression analysis below relates average annual per capita beef consumption in pounds and the independent variable

What decision would an optimist make what decision should : 1.a payoff table is given below and the probabilities of s1 s2 and s3 are .2 .5 and .3 respectively then what is the

The charge to rent a car is 2995 per day plus 08 per mile : the charge to rent a car is 29.95 per day plus .08 per mile. write an expression that shows the cost of renting a car

A1 limousine service presents service to and from newark : a1 limousine service offers service to and from newark airport to princeton new jersey. john wheels the president of a1

Which scenario assuming normal distribution should you : which scenario assuming normal distribution should you select if you want at 95 confidence interval a 16 probability of

The owner of torpid oaks bampb wanted to know the average : 1. a random variable is binomially distributed with n 16 and pi .40. the expected value and standard deviation of the

The national center for education statistics reported that : the national center for education statistics reported that mean number of instructional computers per public school

Reinforced soil wall major project project reinforced soil : major project project reinforced soil wall design ltbrgtintroduction ltbrgtyour project group is required to design a

At a certain university 25 of students support the green : at a certain university 25 of students support the green party. suppose we take samples of size 100 students and are

User Account

All Pages