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The demand for a firm's product X is dependent on price, the price function for product X being P = q2/3 - 45q/2 + 450, where q is the quantity sold.
Use differential calculus to find both sales volume at which revenue is maximised and the maximum revenue available from sales of product X.
What is the probability that a roulette ball will come to rest on an even number other than 0 and 00?
Create the indicated confidence interval for population mean µ using a t- distribution.
About 40% of the general population donate time and energy to community projects. Suppose 15 people have been randomly selected from a community and each asked whether he or she donates time and energy to community projects.
Test whether the music reduces studying capacity at a .05 level of significance.
The first unit produced after the calibration effort to be found to be defective. What is the probability that machine is in adjustment?
Compute the mean, standard deviation, median, and standard error for each group.
Calculate expected value for each decision and choose the best one. Find out how much firm would be eager to pay to a market research firm to gain better information about future market conditions.
Determine the probability of fatal accident over lifetime? Describe your reasoning carefully. Suppose independent events. Why might the supposition of independence be violated?
Solution utilizing graphical method. Compute the following linear programming problem. Among which of the following points (X, Y) is not a feasible corner point.
Use Chebyshev's theorem to find what percent of the values will fall between 120 and 150 for a data set with mean of 135 and standard deviation of 7.5.
Triathalon Times Jeff Parent is a statistics instructor who participates in triathalons. Listed below are times (in minutes and seconds) he recorded as riding a bicycle for five laps through each mile of a 3-mile loop.
It is suspected that the mean turnover has changed and is not 6.0. Use the .05 significance level.
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