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Suppose you work for a company that manufactures electronics. The development analysts estimate that 2% of their flagship product will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $1500.
How much should they charge for a 2 year extended warranty so that they will still make money selling the extended warranties in the long run and keep the cost of the warranties as low as possible to make them more marketable?
Write up your proposal to the VP of marketing and promotions with enough explanation that someone from our class could understand it.
a) Find the 95% confidence interval for the population mean based on the 37 patients who remain after you drop the outlier. b) Compare your interval in (a) with your interval from Exercise 18.32. What is the most important effect of removing the ou..
Can we conclude that the mean age of the population from which the sample may be presumed to have been drawn is less than 60 years? Let α = .05
Determine which is the dependent variable Y and which is the independent variable X. Explain your reasoning. Draw a scatterplot and indicate the relationship if any. Explain. Compute the least-squares regression equation. Show major line items of you..
Now we would like to evaluate regression equation for X using Y as independent variable.
Of those customers using extra unleaded or premium gas, 60% fill their tanks. What is the probability that the next customer fills the tank?
Consider different types of qualitative data collection and analysis methods and the ways in which they can support business decision making and strategies.
1.an advantage of the permutation test over the t test for a difference in means is thata.it gives accurate p-values
A researcher claims that the average age of people who buy theatre tickets is 51. A sample of 30 is selected and their ages are recorded as shown below.
If a baseball player's batting average is 0.340 or 34%, find the probability that the player will have a bad season and only score at most 60 hits in 200 times at bat?
We want to test a hypothesis at the .01 level of significance. Based on your computations, would we reject or fail to reject the null hypothesis?
The average delivery time is 26.7 with a standard deviation of 8.527. If the customer estimates the time using a 99% confidence interval, what is the margin of error?
What are the four levels of measurement scales? Give examples of each and explain in detail. Explain the use of normal probability plot to evaluate whether a set of data is normally distributed? Please discuss in detail.
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