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Suppose a small bicycle manufacturer makes cheap bikes that sell for 180$ each. The total cost of producing x bikes (in $) is given by c(x)=6000+240x-0.8x^2, where x is up to 200 bikes.
a. Write down the revenue function.
b. Graph the cost and revenue functions on suitable scales, for x from 0 to 200.
c. Find the break even point: the number of units (to the nearest whole number) which need to be produced for the revenue=cost. Use algebra.
d. Find the profit function p(x), and use this to find the number of units which produces the maximum profit. (hint: the marginal profit might help)
Assume the probability of a tire blowout is 0.102% per 50,000 miles of use and that a person travels 13,000 miles per year in a car. Assume that the probability of loss of control is 30% if the blowout occurs on the front tires and 15% for the rea..
In a public opinion poll, 48% of 189 respondents favor an elimination of taxes on dividend income.
Expireall Corporation is in finishing business. The following data took place during September: The standard cost card indicates that 2.0 feet are used in the production of each unit. The standard cost of each material is $4.50 per foot.
When there are multiple observations per subject, what issues are there with doing a MNL and an ordered logit model, answer in detail and provide example.
Explain finding value of test statistic for the given data also interpret the result. Can Mr. Ratter compute which the mean weight of the bags is less than 50 pounds.
Suppose that a company claims that their mean weekly sales are $12,250. A random sample 35 weeks yields a sample mean of with a sample standard deviation of s=$1250.
The ideal number of children. "What do you think is the ideal number of children for a family to have?" A Gallup Poll asked this question of 1016 arbitrarily chosen adults. Almost half (49%) thought two children was idea suppose that p = 0.49 is e..
According to an article, 19% of the entire US population have high-speed access to the Internet. Random samples of size 200 are selected from the US population.
In a recent study of incomes in Allegheny county in Pennsylvania it was found that distribution of family incomes is skew to the right. what can we say about the relationship between mean and median?
Student A and B took different statistics classes and 2 different finals. Student A had a score of 83 out of 100 and ranked 72 in his class. Student b scored 85 out of 100 and he ranked in the 70 percentile of his class.
a) What type of research uses numeric measurement data? b) What type of research uses a research hypothesis? c) What type of research does not use statistical data analysis?
Create a hypothesis and perform a series of tests to determine if there is any fundamental difference in the findings.
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