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Ace Advertising has won the contract to promote the Macaw Heads upcoming concert in Aldrich. They have identified four relevant advertising outlets and using Nielson and Arbitron data gathered the information in Table 1 about each advertising outlet. The advertising budget is limited to $50,000. At least 500 thousand of the effective audience contact should be individuals over the age of 40. For TV ads, the effective audience contact (and thus the percent of audience over 40) drops by 20% after the 20th ad (include a decision variable for both maximum and reduced effectiveness TV ad). The newspaper has agreed to cut the cost of an ad by 50% for every additional ad purchased after the fifth ad. Thus the first five ads cost the regular price. After the 6th regular price ad is purchased, the first reduced ad can be purchased. After the seventh regular price ad is purchased, the second reduced ad can be purchased (include a decision variable for the number of regular ads purchased and the number of reduced cost ads purchase and be sure to require that the number of regular cost ads is always five more than the reduced cost ads). At most, only 30 newspaper ads are possible. For every 106.7 radio ad, there must be at least two 103.1 Radio ads. Formulate the LP model to determine the number of ads in each outlet and maximize the effective audience contact.
a) Under what circumstances can z be greater than one? b) Under what circumstances can a probability be greater than one?
Describe how the confidence intervals will change depending on whether the population standard deviation is known or unknown.
If a 99% confidence interval is calculated to estimate the difference between the average hourly rates for each type of graduate, what is the margin of error? Assume both population standard deviations are equal.
Find the standard normal area for each of the following: (Round the answers to 4 decimal places.)
Accident records given by an insurance company give the following information. The probability that an insured driver has an accident is 0.15. If an accident occurs, the damage to the vehicle amount to 20% of its market value 80% of the time
What would be the correct null and alternative hypothesis for the following situation: The sample has a mean of 72.3 mph and a standard deviation of 7.4 mph. Use a 0.05 significance level to test the claim that the mean speed of all cars is greate..
A sample of 4 trucks is randomly selected. What is the probability that 2 of those tested have defective brakes.
In a sample of 200 women, 144 of them said they were in debt. Test the claim that women are in deeper debt than men, at a=0.01.
A Geiger-Muller tube and a scaler record approximately 50 counts per second due to a radioactive source. What is the shortest counting time required so that the percentage error of the counts will not exceed 1%?
Predictors YearHire (year when the individual was hired), Race (1 if individual is black, 0 otherwise), and Rank (1 if individual is an assistant professor, 0 otherwise). Interpret these results.
With mean 120 mmHg and standard deviation 20 mmHg. The mean systolic blood pressure for the sample was 126 mmHg. How likely is it that the results of this sample occurred?
10 people taste wine A and wine B, X= denote the number prefer A. Assume that all others prefer B. These people random sample..
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