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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?
Find out the following probabilities. Probability that exactly 27 items will be good.
Construct a 95% confidence interval for the population mean, μ. assume the population has a normal distribution. In a random sample of 26 computers.
Find the discrete probability distribution for the random variable X and compute the corresponding mean and standard deviation.
What is an appropriate null hypothesis to compare the quality of the product manufactured in the overseas plants and the U.S. plants? Why?
CASE STUDY: Are the Fish Safe to Eat? Assessing which Factors affect Mercury Levels in Fish in Maine Lakes.
What is the probability that between 30 and 40 of the delinquents will commit another crime?
A population of scores has m=50 and o=10. If 5 points are added to every score in the population, then the new mean and standard deviation would be:
Average performance evaluation is higher for managers hired from outside firm compared with those promoted from within? What other stories does this graph tell?
Genzero Pharmaceuticals developed the following regression model based on time series data from the past 33 quarters, for one of its non-prescription cold remedies:
Sample mean varies from population mean of 10 pounds at 5 percent level of significance using two-tailed test. Compute test statistic for the sample data.
Use formula z=(mean of values in sample - mu subscript mean of values in sample) divided by (lower case sigma divided by sqrt number of values in sample)
Discuss an example where you would use a test of hypothesis with three or more population means (that can be analyzed using ANOVA technique) at your employment or personal life.
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