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A widget manufacturer estimates that the total weekly cost in dollars, C, to produce x widgets is given by the linear function C(x) = 500 + 10x, where the intercept 500 represents a "fixed" cost of manufacture and the slope 10 represents the "variable" cost of producing a certain number of widgets. Analysis of weekly widget production reveals that the number of widgets X produced in a week is a random variable with mean μX = 200 and standard deviation σX = 20. What are the mean and the standard deviation of C?
The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, & 10.
What is the probability that 25% or fewer male employees will indicate that they have to pick up the slack for moms working flextime?
A company wants to know if minorities are more likely to be in certain job categories than others. Their data base codes employees 1 for clerical, 2 for custodial, and 3 for manager. A logistic equation was fit to the data with SPSS.
How would managers find benefit in helping them to obtain valuable information in problem identification research. Discuss whether these data are secondary or primary and justify your answers
A sales person at a company sold 6,903,435 of hardware equipment last year, a figure that represented the eighth decile of sales performance at the company. What can you conclude about the salesperson performance?
The weights of canned hams processed at Henline Ham Company follow the normal distribution, with a mean of 9.20 pounds and a standard deviation of .25 pounds. The label weight is given as 9.00 pounds
The chance of winning a prize for each of the 15 plays is 50-50 if you bought 15 tickets, what is the chance of winning 10 or more prizes?
The typical homeowner has a utility function equal to the square root of wealth. Will the homeowner retrofit the house, and if so, which insurance policy will the homeowner buy?
Using the dataset, produce a graph of per capita GDP for Argentina, China, and Canada from 1965 to 1995. Is inequality between these countries increasing?
Create a 90% confidence interval for mean score on this placement exam for all students.
Assign probabilities to the sample points and then find the probability that the first envelope purchased contains less than $100.
A IRS auditor randomly selects 3 tax returns from 48 returns of which 9 contain errors. What is the probability that she selects none of those containing errors? Round to four decimal places.
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