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To examine the effectiveness of its four annual advertising promotions, a mail order company has sent a questionnaire to each of its customers, asking how many of the previous year's promotions prompted orders that would not have otherwise been made. The accompanying table lists the probabilities that were derived from the questionnaire, where X is the random variable representing the number of promotions that prompted orders. If we assume that overall customer behavior next year will be the same as last year, what is the expected number of promotions that each customer will take advantage of next year by ordering goods that otherwise would not be purchased?
A previous analysis of historical records found that the mean value of orders for promotional goods is 34 dollars, with the company earning a gross profit of 22% on each order. Calculate the expected value of the profit contribution next year.
The fixed cost of conducting the four promotions is estimated to be 14000 dollars with a variable cost of 6 dollars per customer for mailing and handling costs. What is the minimum number of customers required by the company in order to cover the cost of promotions? (Round your answer to the next highest integer.)
standard deviation= 2.5 ounces. Which of the following is true about the sampling distribution of the sample mean if a sample of size 15 is selected?
Do the data indicate that the lengths of one supplier's 2x4's are subject to more variability than those of the other supplier? Assume α = 0.05. (HINT: F Test for Differences in Two Variances)
Compute the 90% confidence interval about m if the sample size, n, is 55. How does does increasing the sample size affect the margin of error, E?
The entire batch will be rejected if at least one of those tested is defective. What is the probability that the entire batch will be rejected?
A random sample of 10 miniature Tootsie Rolls was taken from a bag. Each piece was weighed on very accurate scale. The results in grams were 3.087 3.131 3.241 3.241 3.270 3.353 3.400 3.411 3.437 3.477 (a)Construct a 90% confidence interval for the tr..
You're considering an investment in the common stock of Crisp Cookware. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00). the stock has a beta equal to 0.9.
Use the steps of hypothesis testing; (b) figure the effect size for the study; And (c) explain your answers to parts (a) and (b) to someone who has never had A course in statistics.
This study investigates whether there are differences in the outcomes of three different treatments for anxiety
Findout the value of X using normal distribution which gives standard deviation also mean. A math teacher gives two different tests to measure students' aptitude for math.
Annually from tornadoes in the U.S.A. is less than 30. If a sample of 9 randomly selected years had a standard deviation of 29, is the claim believable? Use = .01?
Iindependently of one another. Two hundred seeds of such a cross are raised, and 142 turn out to be blue-flowering. Are the data consistent with the model?
The distribution of amounts spent is approximately normal with a standard deviation of $10. Compute the probability of selecting a credit card customer at random and finding the customer charged between $70 and $83.
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