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If profit earned in the manufacture and sale of X units of a product is P dollars where: P = 10X - 0.001X2
a) Sketch the profit function for appropriate values of X and P.
b) Find the maximum profit and the sales volume at which it occurs.
c) Find the sales volume or volumes which make profits equal to zero, (i.e. find the roots or the X-intercepts of the profit function).
Testing for equality of variances - Independent random samples were taken from normal distributions of the yearly production of ships built by the International Ship Building Company under
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The probability that a patient recovers from a disease is 63%. What is the probability that:
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We can use two products at my work, which are mutual funds and see if there is a correlation between the two. The two different funds are: a domestic stock mutual fund, which only invests in large organizations (large cap companies) based here in..
A company that has a large number of supermarket grocery stores claims that customers who pay by personal checks spend an average of $87 on groceries at these stores with a standard deviation of $22.
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