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Organizers of an Internet training session will charge participants $150 to attend. It costs $3000 to reserve the room, hire the instructor, bring in the equipment, and advertise. Assume it costs $25 per student for the organizers to provide the course materials.
a. How many students have to attend for the company to break even?
b. If the trainers think, realistically, that 20 people will attend, then what price should be charged per person for the organization to break even?
Under what conditions, if any, is it not correct to assume that the sampling distribution of the sample mean is approximately normally distributed?
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The standard deviation, over a long period of time, was computed to be 0.150 mm. What percent of the ball bearings on this line will have diameters of 20.27 mm or more?
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