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Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $9,600. Micromedia rents computers for its seminars at a cost of $60 per computer per day.
A.) Develop a model for the Total Cost to put on the seminar. Let x represent the number of students who enroll in the seminar.
B.) Develop a model for the Total Profit if x students enroll in the seminar.
C.) Micromedia has forecasted an enrollment of 30 students for the seminar. How much Profit will be earned if its forecast is accurate?
D.) Compute the Breakeven Point.
Find the probability of given case.
Find the probability the mean of the sample and the only adjustment might be using the p-value from a computer program (like SAS), rather than writing a rejection region.
A sample of 10 executives indicated that they spent an average of $11.30 with a sample standard deviation of 0.56 on lunch. Let = 0.05. What are the critical values?
Beanie Babies are toy stuffed animals that have become valuable collector's items. Beanie World Magazine provided the information on 50 Beanie Babies given in beanie.xls.
How are the degrees of freedom for the chi-square hypothesis tests different from those of most other hypothesis tests? In most previous hypothesis tests, the degrees of freedom have been based on sample size.
A researcher is asked to determine whether or not a productivity objective (in dollars) of better than $75,000 per employee is possible. A productivity test is done involving 20 employees. What conclusion would you reach? The sales are as f..
Evaluate the expected value of the total number of sales
refer to the following frequency distribution for questions 1 2 3 and 4.the frequency distribution below shows the
A product is made up of two subsystems in parallel. Subsystem one consists of ten elements in series with a failure rate if 1/100. The second subsystem consists of 5 elements in series with a failure rate of 1/200. What is the overall reliabili..
Binomial probability distribution
part-1- first reset the lower limit to zero and the upper limit to 1000 and then click update.- now put 6 points
Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; Qtr3 = 1 if Quarter 3, 0 otherwise.
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