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The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases its price to $63, what should be the quantity sold? Will the revenue increase? Why?
What sample size must you take to be 96% confident that the results will be within $.75 of the true mean cost per call?
how much the mean changes?
u.s. bureau of the census data reveal the largest town in the state of oh has a population of one million families. the
Describe the data appear the strength of the relationship among variables is sufficient to warrant using linear regression forecasting.
A company has just manufactured 1295 CDs, and 492 are defective. If 10 of the CD's are randomly selected for testing, what is the probability of the entire batch will be accepted
A company produces and sells four grades of industrial solvents - A, B, C, and D.The selling price per gallon of each grade of solventis $6.40, $5.00, $4.20, and $3.50 respectively.
The fleet of yellow fire trucks made 135,035 runs and had 4 accidents. At α = .01, did the yellow fire trucks have a significantly lower accident rate?
The contingency table below shows the results of a random sample of 200 state representatives that was conducted to see whether their opinions on a bill are related to their party affiliation
You need to estimate the mean Christmas sales across a large chain of jewelry stores. You want to estimate this mean value to within $100 with 99% confidence
During the past six months, 73.2% of US households purchased sugar. Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. 80% of the households spent more than what amount?
use exponential smoothing with 2 between 0.1 and 0.4 to get forecasts one period ahead for the following time series.
A clinical trial is planned to compare an experimental medication designed to lower blood pressure to a placebo.
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