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The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a five percent chance of running out of stock. Where should the manufacturer set the inventory level?
What is the prediction for Home Price if Square Feet = 2,000? (c) Would the intercept be meaningful if this regression applies to home sales in a certain subdivision?
Normally distribution with µ=8 minutes and σ=2 minutes. If you select random samples of 25 calls, what percentage of the sample means would be between 7.8 and 8.2 minutes?
Use Hypothesis testing to determine if the data indicate that there are significant differences among the three therapies? Test at the .05 level of significance.
If zero can be the first digit and the numbers can be repeated, what is the probability Mr. Jones and Mrs. Smith select the same PIN? (Round your answer to 3 decimal places.)
Michelle is a counselor at the local crisis center. She wishes to determine if there is a relationship between the gender of an individual and the amount of alcohol consumed.
Assume that the population of heights of treated plants is normally distributed with mean. Based on the sample, can it be concluded that is different from centimeters? Use the level of significance. Perform a two-tailed test. Then fill in the table..
The average buglary rate for a juisdiction has been 311 per year with a standard deviation of 50 what is the probability that next year the number of burglaries will be more than 350.
A local hardware store claims that the mean waiting time in line is less than 3.5 minutes. A random sample of 20 customers has a mean of 3.7 minutes with a standard deviation of 0.8 minute. If α = 0.05, test the store's claim.
With a major expansion planned, Judy projects sales next year to increase to 1,200 radials. What will the demand be each season? Please show work (formulas).
Markland Manufacturing intends to increase capacity by overcoming a bottleneck operation by adding new equipment. Two vendors have presented proposals.
The summation sign is usually represented by:
There is a fixed cost of $50,000 to start a production process. Once the process has begun, the variable cost per unit is $25. The revenue per unit is projected to be $45. Write a mathematical expression for total profit.
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