User Account

All Pages

Normal distribution graph that contains the information

Assignment Help Basic Statistics
Reference no: EM131922025

Pricing games

An author of children's online educational games wants to use statistics to decide on the price that each game should sell for. After surveying similar games sold by competitors, the author finds that the price of this type of games is normally distributed with a mean price of $18.00 and a standard deviation of $4.25.

  • A. If the author of the games wants to set a price, such that 90% of the competitors' prices exceed the author's price, what price should she set? Hint: Sketch a normal distribution graph that contains the information given in this question.
  • B. If the author wants to price her games, so as to be in the middle 80% range of her competitors' prices, what should the maximum game price be and what should the minimum game price be? Hint: Hint: Sketch a normal distribution graph that contains the information given in this question.

Reference no: EM131922025

Questions Cloud

What could the bank do to accommodate anna''s disability : What could the bank do to accommodate Anna's disability? Would you consider the accommodations reasonable? What if anything did Dave do correctly?
Definitions of financial statement elements : In 20X6, Universal Company experienced the total loss of one of its assembly plants in the Midwest to a fire. The carrying amount (net book value).
Determine the cost behavior formula of each resource : Determine the cost behavior formula of each resource. Use the high-low method to assess the fixed and variable components
Evaluate eds analysis - does ed have the right expected npv : Evaluate Ed's analysis. Does Ed have the right expected NPV? What's wrong with his analysis and Suggest an approach that will give a more insightful result
Normal distribution graph that contains the information : If the author wants to price her games, so as to be in the middle 80% range of her competitors' prices, what should the maximum
What choices does maggie make and what are the consequences : WHAT CHOICES DOES MAGGIE MAKE AND WHAT ARE THE CONSEQUENCES OF THEM TO HER LIFE? All documentation must follow the exact MLA format taught in class.
Find the margin of error at a confidence level : The results were roughly bell-shaped with a mean of $35 and standard deviation of $10. Find the margin of error at a 98% confidence level.
Analyzed the concept of probability : Having read and analyzed the concept of probability, consider the case given below.
Find the value of the standard deviation of the distribution : Find the value of the standard deviation of the distribution of sample means.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd