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You are working on an analysis of your company's current cost structure reviewing the various fixed and variable costs within your firm. Your objective is to maximize your firm's profit. In reviewing your current sales you are confident that you will reach a sales level of 40,000 units. Your fixed costs are presently $500,000 with a variable cost per unit of $25 per unit and a sales price of $43 Your options are:
a. Increase your fixed costs by $50,000 which will decrease variable costs by $8 per unit.
b. Sell off $100,000 of your fixed costs which will increase your variable costs by $12 per unit.
c. Decrease your sales price by $5 in order to increase sales by 5,000 units. Which of the above alternatives would your choose to increase profits?
In testing a new drug, researchers found that 6% of all patients using it will have a mild side effect. a random sample of 11 patients using the drug is selected. find the probability that exactly two will have this mild side effect.
The following study was developed by Economist Simon Fass. Fass surveyed a sample population of low-income households in St. Martin. The variables analyzed were monthly income per adult and choice of rental contract for housing.
The claim that ""40% of those persons who retired from an industrial job before the age of 60 would return to work if a suitable job was available" is to be investigated at the 0.02 level of risk.
If a proposal evaluator randomly selected two proposals, what is the probability that both of them met the specified?
Assume that the class has 60 students and that the examination period is 90 minutes in length. How many students do you expect will be unable to complete the exam in the allotted time (0 decimals)?
Use confidence interval to determine the estimated margin of error, Then determine the sample mean.
Happy Hector and Party Paul are each having a catered party at Fun Factory. Hector's party is in the hall and Paul's party is on the Patio.
Consider that you are a line manager in your current Corporation. There is a 0.50 probability that you will be promoted this year. There is a 0.65 probability that you will get a promotion or a raise. The probability of getting a promotion and a r..
The management of a department store is interested in estimating the difference between the mean credit purchases of customers using the store's credit card versus those customers using a national major credit card.
The bank wants to find out the waiting time of their customers during the Friday evening hours from 5pm to 8pm. Using the data in ungrouped form, compute the Standard Deviation, using the computational formula.
A study regarding the relationship between age and the amount of pressure sales personnel feel in relation to their jobs revealed the following sample information.
Calculate the coefficient of skewness and coefficient of variation of minutes spent commuting. What do these statistics tell us?
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