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You are working on an analysis of your company's current cost structure reviewing the various fixed and variable costs within your firm. Your objective is to maximize your firm's profit. In reviewing your current sales you are confident that you will reach a sales level of 40,000 units. Your fixed costs are presently $500,000 with a variable cost per unit of $25 per unit and a sales price of $43 Your options are:
a. Increase your fixed costs by $50,000 which will decrease variable costs by $8 per unit.b. Sell off $100,000 of your fixed costs which will increase your variable costs by $12 per unit.c. Decrease your sales price by $5 in order to increase sales by 5,000 units. Which of the above alternatives would your choose to increase profits?
The management of a department store is interested in estimating the difference between the mean credit purchases of customers using the store's credit card versus those customers using a national major credit card.
A student is selected at random and found to have a GPA of less than 2.5, what is the probability that the student is from a private school?
State the Null Hypothesis and the Alternative Hypothesis. Determine the test statistic. Determine the P-value
At the 5% level of significance, is there evidence of a difference among the mean access read times for the three files sizes?
Distribution and the method of moments estimators of the parameters are alpha(hat)= 5.23 and lambda(hat) = 21.3. Find an asymptotic 95% confidence interval for alpha.
Conduct a one-sided hypothesis test of the claim that corner-lot houses have higher average selling prices than those located on non-corner lots.
Compute the average number of delayed patients, Lq, for this system. The variance of the sum independent random variables is the sum of the variance.
What item/s can be deleted to improve reliability, what items should never be deleted to maintain reliability of data and how many items need to be deleted to achieve maximum reliability
Make sure you include a complete ANOVA summary table. Also, report the appropriate null and research hypotheses and the critical value (alpha = 0.05).
Two components of reliability 0.95 are in parallel and this subsystem is connected in series to a component with a reliability of 0.90. Calculate the overall reliability of this system.
a. Define variables that would tell how many units to purchase from each source. b. Develop an objective function that would minimize the total cost.
A sample of 84 golfers showed that their average score on a particular golf course was 89.05 with a standard deviation of 3.47.
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