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The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases its price to $63, what should be the quantity sold? Will the revenue increase? Why?
Sun Microsystems has approximately 50% of the high-end Unix machines market with its closest competitor being IBM. Suppose that 15 firms were in the market to purchase a high-end Unix machine. Assume that these firms listened to sales pitches by a..
The Survey of Study Habits and Attitudes (SSHA) is a psychological test that measures the motivation, attitude, and study habits of college students.
Construct and interpret the 90% Confidence Interval for the mean starting salary of college graduates in developmental psychology. Salaries are in thousands.
Explain clearly, in your own words, what is a Type I error in this context.
Random sample of 40 male math professors are selected. What is the probability that the sample mean salary of male math professors will not exceed that of the female math professors?
mcneese and klein 1991 looked at the average particle size. specifications give the standard deviation of 2 microns. a
There are infinitely many prime numbers p of the form 4n+3. In other words, show that there exist infinitely many positive integers, n, such that the number 4n+1 is prime.
What is the competitive equilibrium price per ride? What is the equilibrium number of rides per day? What is the minimum number of taxi cabs in equilibrium?
Suppose that you are the director of table game operations at a large casino, known especially for its poker room. You are interested in determining the average number of hands the casino should expect per hour during peak hours in the poker room.
Describe the sampling distribution of the sample mean.
in each case determine whether the study in question is a controlled experiment or an observational study justify your
the compressive strengths of a random sample of 64 specimens of an alloy yielded sample average strength of 5566 psi
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