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Question: (a) It costs a company $35,000 to produce 700 graphing calculators. The company's cost will be $35,070 if it produces an additional graphing calculator. The company is currently producing 700 graphing calculators.
(i) What is the company's average cost?
(ii) What is the company's marginal cost?
(iii) A customer is willing to pay $60 for the 701th calculator. Should the company produce and sell it? Explain.
Determine the area under the normal curve with mu = 8 and sigma = 3. If Mary gets 90 on a physics test where mean is 85 and standard deviation is 4.59, where does she stand in relation to her classmates?
An oil co. is drilling some wells. the results are described as either a dry well or a producer well. Past experience suggests that 10% of exploratory wells are producer wells.
(a) Show that E [X(X - 1)] = µ(µ - 1) + σ 2 (b) Show that E [(X - c) 2 ] = (µ - c) 2 + σ 2 where c is an arbitrary constant.
However, he needs to be able to predict weekly sales to avoid stock outs that will ultimately lose sales. To help develop a forecasting model, he records the number of snow tires sold weekly during the last winter and the amount of snowfall (in in..
The average fill volume from a random sample of 49 bottles of an energy drink is 32.8 ounces; the standard deviation among the individual fill volumes is3.5 ounces. Determine a 95 percent confidence interval for the mean fill weight.
State the statistical assumptions of this test Using the data set you have selected, select independent and dependent variables.
When summarizing interval-ratio variable data using descriptive statistics, what do we lose in our understanding of a sample if we just report the mean and not any measures of dispersion such as the interquartile range or standard deviation? How m..
1. kane discusses the concentricity of an engine oil seal groove. historically the standard deviation for the
Construct the 90% and 99% confidence interval for population mean. Which interval is wider? If convenient, utilize technology to construct confidence intervals.
The time in months between occurrences of safety violations in a toll manufacturing facility is shown in the table below.
If we assume that the three random variables involved are independent and uniformly distributed, compute the mean and variance of the amount to be received.
Although there is a popular belief that herbal remedies such as ginkgo biloba and ginseng may improve learning and memory in healthy adults, these effects are usually not supported by well-controlled research.
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