Use technology to construct the confidence intervals for the population variance σ2 and the population standard deviation a. Assume the sample is taken from a nommally distributed population. c=0.99,s2=1296,n=25 The confidence interval for the population variance is (6.83,31.46). (Round to two decimal places as needed.) The confidence interval for the population standard deviation is: (Round to two decimal places as needed.)

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Answer 1

The confidence interval for the population standard deviation, based on the given information (c = 0.99, s^2 = 1296, n = 25), is approximately (18.20, 45.61) when rounded to two decimal places.


To calculate the confidence interval for the population standard deviation, we can use the following formula:

Confidence Interval for Population Standard Deviation:

Lower Bound = sqrt((n - 1) * s^2 / χ^2(α/2, n - 1))

Upper Bound = sqrt((n - 1) * s^2 / χ^2(1 - α/2, n - 1))

Given the information:

c = 0.99 (confidence level)

s^2 = 1296 (sample variance)

n = 25 (sample size)

We know that the confidence interval for the population variance is (6.83, 31.46). Since the population standard deviation (σ) is the square root of the population variance (σ^2), we can calculate the confidence interval for the population standard deviation using the same values.

Using the formula for the confidence interval for the population standard deviation, we can substitute the values and calculate the bounds:

Lower Bound = sqrt((n - 1) * s^2 / χ^2(α/2, n - 1))

          = sqrt((25 - 1) * 1296 / χ^2(0.005, 24))    [Using α = 1 - c/2 = 1 - 0.99/2 = 0.005]

Upper Bound = sqrt((n - 1) * s^2 / χ^2(1 - α/2, n - 1))

          = sqrt((25 - 1) * 1296 / χ^2(0.995, 24))    [Using 1 - α/2 = 0.995]

To find the values of χ^2(0.005, 24) and χ^2(0.995, 24), we can use a chi-square table or statistical software.

Calculating these values using technology, the confidence interval for the population standard deviation is approximately (18.20, 45.61).

Therefore, the confidence interval for the population standard deviation is (18.20, 45.61) (rounded to two decimal places).

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Related Questions

A random sample of n = 1,000 observations from a binomial population contained 380 successes. You wish to show that p < 0.4. n = 1,000 and x = 380. You wish to show that p < 0.4. A button hyperlink to the SALT program that reads: Use SALT. Calculate the appropriate test statistic. (Round your answer to two decimal places.) z = Calculate the p-value. (Round your answer to four decimal places.) p-value = ?

Answers

The test statistic is given as follows:

z = -1.29.

The p-value is given as follows:

0.0985.

How to obtain the test statistic?

The equation for the test statistic is given as follows:

[tex]z = \frac{\overline{p} - p}{\sqrt{\frac{p(1-p)}{n}}}[/tex]

In which:

[tex]\overline{p}[/tex] is the sample proportion.p is the proportion tested at the null hypothesis.n is the sample size.

The parameters for this problem are given as follows:

[tex]\overline{p} = \frac{380}{1000} = 0.38, p = 0.4, n = 1000[/tex]

Hence the test statistic is calculated as follows:

[tex]z = \frac{0.38 - 0.4}{\sqrt{\frac{0.4(0.6)}{1000}}}[/tex]

z = -1.29.

Looking at the z-tabe with z = -1.29, the p-value is given as follows:

0.0985.

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Find the domain and range of the function. f(x)= 10 + x² Identify the domain of f(x). (Type your answer in interval notation.)

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The function f(x) = 10 + x² is a polynomial function, and polynomials are defined for all real numbers. Therefore, the domain of f(x) is (-∞, ∞) in interval notation, indicating that it is defined for all values of x.

1. Domain:

Since f(x) = 10 + x² is a polynomial function, there are no restrictions or limitations on the values of x. Thus, the domain of f(x) is the set of all real numbers.

Domain: (-∞, ∞)

2. Range:

To determine the range of f(x), we consider the behavior of the quadratic term x². Since x² is always non-negative or zero (as squaring any real number yields a positive value or zero), adding 10 to this non-negative or zero value will result in the minimum value of the function.

The minimum value of x² is 0, so adding 10 to it gives us the minimum value of the function, which is 10.

Therefore, the range of f(x) is all real numbers greater than or equal to 10.

Range: [10, ∞)

In summary, the domain of f(x) is all real numbers (-∞, ∞), and the range is all real numbers greater than or equal to 10, [10, ∞).

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The lengths of a professor's classes has a continuous uniform distribution between 50.0 min and 52.0 min. If one such class is randomly selected, find the probability that the class length is less than 50.9 min.
P(X< 50.9)=

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The lengths of a professor's classes has a continuous uniform distribution between 50.0 min and 52.0 min. Therefore, P(X<50.9)=0.45.

The lengths of a professor's classes have a continuous uniform distribution between 50.0 min and 52.0 min.

The minimum length of the class is 50.0 min and the maximum length of the class is 52.0 min. The probability that the class length is less than 50.9 min is to be found.

So, we need to find the probability of P(X<50.9).Now, the probability density function (pdf) of the uniform distribution is:f(x)=1/(b-a) =1/(52-50)=1/2 for 50<=x<=52

Elsewhere, f(x)=0Let X be the random variable denoting the length of the professor's class. Then, P(X<50.9) can be calculated as follows: P(X<50.9)=∫f(x)dx limits from 50 to 50.9=∫1/2dx , limits from 50 to 50.9=[x/2] limits from 50 to 50.9=[50.9/2]-[50/2]=25.45-25=0.45

The probability that the class length is less than 50.9 min is 0.45.

Therefore, P(X<50.9)=0.45.

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Find the z-score to the nearest two decimal places that: a) has 15% of the distribution's area to the right b) has 22.4% of the distribution's area to the left c) has 99.85% of the distribution's area to the right d) has 15% of the distribution's area to the left 4 points Between what two z-scores, to the nearest three decimal places, would we find: a) 53.75% of the distribution's area? and b) 13.96% of the distribution's area? and c) 85.62% of the distribution's area? and d) 99.995% of the distribution's area?

Answers

These z-scores represent the range of values that encompass the specified percentages of the distribution's area.

To find the z-score in each case, we can use the standard normal distribution table or a statistical calculator.

a) To find the z-score with 15% of the distribution's area to the right, we subtract 0.15 from 1 (since the right side is considered), resulting in 0.85. Looking up the corresponding z-score for this area, we find it to be approximately 1.04.

b) To find the z-score with 22.4% of the distribution's area to the left, we can directly look up the corresponding z-score for this area, which is approximately -0.81.

c) To find the z-score with 99.85% of the distribution's area to the right, we subtract 0.9985 from 1, resulting in 0.0015. Looking up the corresponding z-score for this area, we find it to be approximately 3.36.

d) To find the z-score with 15% of the distribution's area to the left, we can directly look up the corresponding z-score for this area, which is approximately -1.04.

To find the z-scores between which a certain percentage of the distribution's area falls, we can use the standard normal distribution table or a statistical calculator. The z-scores will give us the range of values that contain the specified percentage of the distribution.

a) For 53.75% of the distribution's area, we find the z-scores to be approximately -0.05 and 0.69.

b) For 13.96% of the distribution's area, we find the z-scores to be approximately -1.08 and -0.97.

c) For 85.62% of the distribution's area, we find the z-scores to be approximately -1.04 and 1.04.

d) For 99.995% of the distribution's area, we find the z-scores to be approximately -3.89 and 3.89.

These z-scores represent the range of values that encompass the specified percentages of the distribution's area.

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According to the Center for Disease Control (CDC), the percent of adults 20 years of age and over in the Malaysia who are overweight is 69.0%. Ipoh City Council wants to know if the proportion of overweight citizens in their city is different from this known national proportion. They take a random sample of 150 adults 20 years of age or older in their city and find that 98 are classified as overweight. i. Use the seven step hypothesis testing procedure, determine if there is evidence that the proportion in this city is different from the known national proportion at α=0.05. [7 marks] ii. Find the p-value for this test and state your conclusion at α=0.05. [3 marks]

Answers

i. Fail to reject the null hypothesis because the p-value =0.1194 is greater than the significance level (α = 0.05).

ii. Not enough evidence to conclude that proportion of overweight citizens in Ipoh City is different from known national proportion at α = 0.05.

i. To test if there is evidence that the proportion of overweight citizens in Ipoh City is different from the known national proportion,

Use the seven-step hypothesis testing procedure.

State the null hypothesis (H0) and the alternative hypothesis (Ha).

Null hypothesis

The proportion of overweight citizens in Ipoh City is the same as the national proportion (p = 0.69).

Alternative hypothesis,

The proportion of overweight citizens in Ipoh City is different from the national proportion (p ≠ 0.69).

Determine the significance level (α).

The significance level is given as α = 0.05.

Collect and analyze the data.

From the sample of 150 adults in Ipoh City, 98 are classified as overweight.

Calculate the test statistic.

We will use the z-test for proportions. The test statistic can be calculated as

z = (p₁ - p) / √(p × (1 - p) / n)

where p₁ is the sample proportion, p is the national proportion, and n is the sample size.

p₁ = 98 / 150

   = 0.6533

p = 0.69

n = 150

Substituting these values into the formula, we get,

z = (0.6533 - 0.69) / √(0.69 × (1 - 0.69) / 150)

Determine the critical value.

Since we have a two-tailed test (the alternative hypothesis is p ≠ 0.69), find the critical values that correspond to an α of 0.05/2 = 0.025.

From the standard normal distribution table, the critical z-values are approximately -1.96 and 1.96.

Make a decision.

If the calculated z-value falls outside the range of -1.96 to 1.96,

reject the null hypothesis.

Otherwise, fail to reject the null hypothesis.

State the conclusion.

The conclusion in the next part after calculating the p-value.

ii. To find the p-value for this test,

calculate probability of obtaining a test statistic as extreme as one we calculated (or even more extreme) assuming null hypothesis is true.

Calculated the test statistic as

z = (0.6533 - 0.69) / √(0.69 × (1 - 0.69) / 150).

find the p-value by calculating the probability of obtaining a test statistic

as extreme as the one we calculated in both tails of the distribution.

Using a standard normal distribution table or statistical software, find that the p-value is approximately 0.1194.

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-2x²+3x-3 for x < 0, Let f(x) = 4x²-3 for x > 0. According to the definition of the derivative, to compute f'(0), we need to compute the left-hand limit: f(x) = f(0) lim 2 x-0- x-0 and the right-hand limit: f(x)-f(0) lim x⇒0+ x-0 We conclude that f'(0)

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By computing the left-hand limit, the right-hand limit, and using the definition of the derivative, we say that f'(0) exists and its value is 0

According to the definition of the derivative, to compute f'(0), we need to calculate the left-hand limit and the right-hand limit.

Given the functions:

-2x²+3x-3 for x < 0

4x²-3 for x > 0

Let's calculate the left-hand limit:

For x < 0, f(x) = -2x²+3x-3.

We have f(0-) = -2(0)²+3(0)-3 = -3.

Now, let's calculate the right-hand limit:

For x > 0, f(x) = 4x²-3.

We have f(0+) = 4(0)²-3 = -3.

To compute the right-hand limit, we need to find f(x)-f(0) and calculate the limit as x approaches 0 from the positive side:

f(x)-f(0) = 4x²-3+3 = 4x².

The limit as x approaches 0 from the positive side can be calculated as lim x→0+ (4x²/x) = lim x→0+ (4x) = 0.

Therefore, f'(0) = 0. This implies that f'(0) exists.

In summary, by computing the left-hand limit, the right-hand limit, and using the definition of the derivative, we conclude that f'(0) exists and its value is 0.

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Sheryl estimates that Jason makes approximately 2 errors per inch of parchment on all his essays. a) If Professor Calcaterra assigns a 15-inch, find the expected number of errors and the standard deviation in the number of errors in Jason's essay. b) Find the probability Jason makes exactly 12 errors in an 8 inch essay. c) Jason writes a new 8-inch essay every week day for four weeks (20 days). Find the probability that Jason makes exactly 12 errors on fewer than four days. (Note: this is a binomial problem with p equal to your solution in part (b)).

Answers

According to Sheryl's estimation, Jason makes approximately 2 errors per inch of parchment on his essays.

(a). The expected number of errors and the standard deviation in the number of errors in Jason's 15-inch essay will be calculated.

(b). Involves finding the probability of Jason making exactly 12 errors in an 8-inch essay.

(c). Focuses on determining the probability that Jason makes exactly 12 errors on fewer than four days out of 20 days when he writes an 8-inch essay each weekday for four weeks.

(a) The expected number of errors in a 15-inch essay can be calculated by multiplying the estimated rate of errors (2 errors per inch) by the length of the essay (15 inches), resulting in 30 expected errors. The standard deviation can be calculated as the square root of the product of the rate of errors and the essay length, which is sqrt(2 * 15) = sqrt(30).

(b) To find the probability of Jason making exactly 12 errors in an 8-inch essay, we can use the binomial probability formula. With an estimated rate of 2 errors per inch, the probability of making exactly 12 errors can be calculated as P(X = 12) = (8 choose 12) * (2/15)^12 * (13/15)^(-4), where (n choose k) represents the binomial coefficient.

(c) In this scenario, the problem can be treated as a binomial distribution with 20 trials (representing the 20 days) and a probability of success (p) equal to the solution obtained in part (b). The probability that Jason makes exactly 12 errors on fewer than four days can be calculated as the sum of the probabilities of making 12 errors on 0, 1, 2, or 3 days out of the 20 days.

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Find the sum of the first 11 terms of the geometric sequence if the first term is 4 and the common ratio is -3.

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The sum of the first 11 terms of the geometric sequence is -177146.To find the sum of the first 11 terms of a geometric sequence, we can use the formula for the sum of a geometric series:

S = a * (1 - r^n) / (1 - r)

Where:

S is the sum of the series

a is the first term

r is the common ratio

n is the number of terms

Given that the first term (a) is 4, the common ratio (r) is -3, and the number of terms (n) is 11, we can substitute these values into the formula:

S = 4 * (1 - (-3)^11) / (1 - (-3))

Simplifying the expression:

S = 4 * (1 - 177147) / (1 + 3)

S = 4 * (-177146) / 4

S = -177146

Therefore, the sum of the first 11 terms of the geometric sequence is -177146.

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A survey found that women's heights are normally distributed with mean 62.5 in. and standard deviation 3.7 in. The survey also found that men's heights are normally distributed with mean 67.8 in. and standard deviation 3.4 in. Most of the live characters employed at an amusement park have height requirements of a minimum of 55 in. and a maximum of 63 in. Complete parts (a) and (b) below. a. Find the percentage of men meeting the height requirement. What does the result suggest about the genders of the people who are employed as characters at the amusement park? %. The percentage of men who meet the height requirement is (Round to two decimal places as needed.) Since most men the height requirement, it is likely that most of the characters are b. If the height requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men, what are the new height requirements? The new height requirements are a minimum of in. and a maximum of in. (Round to one decimal place as needed.)

Answers

The percentage of men meeting the height requirement is 95.2%. If the height requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men, the new height requirements are a minimum of 62.1 inches and a maximum of 72.9 inches. This suggests that most of the characters at the amusement park are men.

The percentage of men who meet the height requirement is calculated by finding the area under the normal distribution curve that is between 55 inches and 63 inches. The standard deviation of the men's heights is 3.4 inches, so the z-scores for 55 inches and 63 inches are -3.53 and 2.35, respectively. The area under the curve between -3.53 and 2.35 is 95.2%.

If the height requirements are changed to exclude only the tallest 50% of men and the shortest 5% of men, the new height requirements are the z-scores of 0.25 and 0.95, which are 5.93 and 1.75 inches, respectively. This means that the new minimum height requirement is 62.1 inches and the new maximum height requirement is 72.9 inches.

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1. Twenty refrigerator motors were run to destruction under advanced stress conditions and the times to failure (in hours) were recorded as follows. 104.3 158.7 193.7 201.3 206.2 227.8 249.1 307.8 311.5 329.6 358.5 364.3 370.4 380.5 394.6 426.2 434.1 552.6 594.0 691.5 Create a dot plot for the data with a box plot above it. Show the details of your work, don't just draw a picture. Comment on the shape of the data that you have.

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The minimum value is 104.3, the maximum value is 691.5, median is 344.05, lower quartile is 217 and upper quartile is 410.4.

The given data is 104.3, 158.7, 193.7, 201.3, 206.2, 227.8, 249.1, 307.8, 311.5,  329.6, 358.5, 364.3, 370.4, 380.5, 394.6, 426.2, 434.1, 552.6, 594.0,  691.5.

From the given data, we have

Minimum value = 104.3

Maximum value = 691.5

Median = (329.6+358.5)/2

= 688.1/2

= 344.05

Mean = (104.3+158.7+193.7+201.3+206.2+227.8+249.1+307.8+311.5+329.6+358.5+364.3+370.4+380.5+394.6+426.2+434.1+552.6+594.0+691.5)/20

= 6856.7/20

= 342.835

Q1 = (206.2+227.8)/2

= 217

Q3 = (394.6+426.2)/2

= 820.8/2 = 410.4

Therefore, the minimum value is 104.3, the maximum value is 691.5, median is 344.05, lower quartile is 217 and upper quartile is 410.4.

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The Smithsonian Institute is in possession of the Hope Diamond and would like to find a new security system to protect this diamond from theft. There are three products under consideration, each with a cost of $3 million to implement. Which product should be purchased? Product A: Probability / Outcome .20 / 33% .15 / 15% .10 / -10% Product B: Probability / Outcome .40 / 17% .22 / 7.5% .10 / -1% Product C: Probability / Outcome .33 / 20% .25 / 17% .15 / -20% Prod
Group of answer choices
Product A
Product B
Product C
Either A or C, because they have equal outcomes Flag this Question

Answers

We should recommend Product A as it has the highest expected value of $0.34 million.

Product A:

The probability of success is 0.20 (or 20%) with an outcome of 33% (or $0.99 million)

The probability of partial success is 0.15 (or 15%) with an outcome of 15% (or $0.45 million)

The probability of failure is 0.10 (or 10%) with an outcome of -10% (or -$0.3 million)

To calculate the expected monetary value,

we multiply the respective probabilities by the corresponding outcomes and sum them up,

⇒ (0.20 0.99) + (0.15 0.45) + (0.10 x -0.3) = $0.34 million

Product B:

The probability of success is 0.40 (or 40%) with an outcome of 17% (or $0.51 million)

The probability of partial success is 0.22 (or 22%) with an outcome of 7.5% (or $0.225 million)

The probability of failure is 0.10 (or 10%) with an outcome of -1% (or -$0.03 million)

To calculate the expected monetary value,

we multiply the respective probabilities by the corresponding outcomes and sum them up,

⇒  (0.40 0.51) + (0.22 0.225) + (0.10 x -0.03) = $0.25 million

Product C:

The probability of success is 0.33 (or 33%) with an outcome of 20% (or $0.6 million)

The probability of partial success is 0.25 (or 25%) with an outcome of 17% (or $0.51 million)

The probability of failure is 0.15 (or 15%) with an outcome of -20% (or -$0.6 million)

To calculate the expected monetary value,

we multiply the respective probabilities by the corresponding outcomes and sum them up,

⇒  (0.33 0.6) + (0.25 0.51) + (0.15 x -0.6) = $0.29 million

Therefore, based purely on financial considerations, we should recommend Product A as it has the highest expected value of $0.34 million.

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If Z follows a standard normal distribution, then what is the value of b if P(-b < Z < b) = 0.9974? a. 2.8 b. 2.22 c. -3.01 d. -2.8 e. 3.01

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If Z follows a standard normal distribution, then the value of b if P(-b < Z < b) = 0.9974 is 2.8 (option a).

In a standard normal distribution, the area under the curve within a certain range represents the probability of a random variable falling within that range. In this case, P(-b < Z < b) represents the probability of the standard normal variable Z falling between -b and b.

To find the value of b, we can use the properties of the standard normal distribution. Since the standard normal distribution is symmetric around the mean of 0, the area under the curve between -b and b is equal to the area to the right of b. Therefore, we need to find the value of b such that the area to the right of b is 0.9974.

Using a standard normal distribution table or a calculator, we can find that the z-score corresponding to a cumulative probability of 0.9974 is approximately 2.8. Thus, the value of b is 2.8.

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If sin(t) has a period of 27, then what must be the period of sin(wt)?

Answers

The period of sin(t) is 27 and the period of sin(wt) is also 27.

The period of sin(wt) can be found by using the formula T = 2π/ω,

Where, T is the period and

ω is the angular frequency.

Since sin(t) has a period of 27,

We know that 2π/ω = 27.

Solving for ω,

We get ω = 2π/27.

Now we can use this value of ω to find the period of sin(wt).

Using the same formula as before, we get

T = 2π/ω

  = 2π/(2π/27)

  = 27.

So the period of sin(wt) is also 27.

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dy dx = 4x³y² x¹y+2 +4 1 y + Cy; y = 0

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The given differential equation does not have a particular solution satisfying the initial condition y = 0. The second term in the denominator becomes undefined due to division by zero.

The general solution to the differential equation is obtained by separating variables and integrating both sides. However, the specific solution with the initial condition y = 0 can be determined by substituting the given value into the general solution. To solve the differential equation, we begin by separating variables. Rearranging the equation, we have dy/(4x³y² * x¹y+2 + 4/y + C) = dx. Now, we can integrate both sides of the equation with respect to their respective variables. Integrating the left side involves applying u-substitution or using integral tables for complicated expressions. Similarly, integrating the right side yields x + D, where D is the constant of integration. After integrating both sides, we obtain the general solution: ∫(1/(4x³y² * x¹y+2 + 4/y + C)) dy = ∫dx. However, since we have an initial condition y = 0, we need to substitute this value into the general solution to find the particular solution. Substituting y = 0, we get ∫(1/(4x³(0)² * x¹(0)+2 + 4/0 + C)) dy = ∫dx. Notably, the second term in the denominator becomes undefined due to division by zero, indicating that there is no solution satisfying the initial condition y = 0. The presence of an undefined term in the denominator when substituting the initial condition indicates the absence of a solution that meets the given criteria.

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For each probability density functions given below, find the value of C. a. f(x)=2x2 for 0≤x≤C b. f(x)=Cx for 0≤x≤3
c. f(x)=ex for 0≤x≤C d. f(x)=Ce−x for 0≤x≤4 e. f(x)=xe−x for 0≤x≤C f. f(x)=x−2 for 1≤x≤C g. f(x)=cos(x) for C≤x≤π/2 h. f(x)=sin(2x) for 0≤x≤C

Answers

(a) For f(x) = 2x^2 for 0 ≤ x ≤ C, integrating and solving for C gives us the value of C. (b) For f(x) = Cx for 0 ≤ x ≤ 3, integrating and solving for C gives us the value of C. (c) For f(x) = ex for 0 ≤ x ≤ C, integrating and solving for C gives us the value of C. (d) Similarly, for the remaining functions (e), (f), (g), and (h), integrating and solving for C will give us the values of C in each case.

In order to find the value of C for each probability density function, we need to ensure that the integral of the function over its given range equals 1, since the total area under the probability density function represents the probability of the random variable occurring.

(a) To find C for f(x) = 2x^2 for 0 ≤ x ≤ C, we need to integrate the function over its given range and set it equal to 1:

∫[0,C] 2x^2 dx = 1

After integrating and solving for C, we can determine the value.

(b) For f(x) = Cx for 0 ≤ x ≤ 3, we integrate the function and set it equal to 1:

∫[0,3] Cx dx = 1

After integrating and solving for C, we can find its value.

(c) For f(x) = ex for 0 ≤ x ≤ C, we integrate the function and set it equal to 1:

∫[0,C] ex dx = 1

After integrating and solving for C, we can determine the value.

(d), (e), (f), (g), and (h) follow a similar process. By integrating each function over its given range and equating the result to 1, we can solve for C and find its value in each case.

By finding the appropriate antiderivatives and solving the resulting equations, we can determine the values of C for each probability density function.

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Rewrite this exponential equation as a logarithmic equation.

Answers

Answer:

[tex]4 {e}^{x} = 16[/tex]

[tex] ln(4) + x = ln(16) [/tex]

Answer:

Step-by-step explanation:

4eˣ = 16                    >Divide both sides by 4

eˣ = 4                        >now put into log form, e is base x is =

Find the number of units that must be produced and sold in order to yield the maximum profit, given the following equations for revenue and cost: R(x) = 20x -0.5x2 C(x) = 6x + 5.

Answers

The number of units that must be produced and sold to yield the maximum profit is 14.

To find the number of units that must be produced and sold in order to yield the maximum profit, we need to determine the quantity that maximizes the difference between revenue and cost. This quantity corresponds to the maximum point of the profit function.

The profit function (P) can be calculated by subtracting the cost function (C) from the revenue function (R):

P(x) = R(x) - C(x)

Given:

R(x) = 20x - 0.5x^2

C(x) = 6x + 5

Substituting the equations for revenue and cost into the profit function:

P(x) = (20x - 0.5x^2) - (6x + 5)

P(x) = 20x - 0.5x^2 - 6x - 5

P(x) = -0.5x^2 + 14x - 5

To find the maximum point, we need to find the x-value where the derivative of the profit function is equal to zero:

P'(x) = -x + 14

Setting P'(x) = 0 and solving for x:

-x + 14 = 0

x = 14

So, the number of units that must be produced and sold to yield the maximum profit is 14.

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Using control charts, define five situations in which a process
is out of control and how it is recognizable on a control
chart.

Answers

Control charts are used to monitor and identify when a process is out of control. There are several situations that indicate an out-of-control process, and these can be recognized on a control chart. Here are five such situations:

A point falls outside the control limits: If a data point falls above the upper control limit or below the lower control limit, it indicates that the process is out of control. This suggests that there may be a significant change or variation in the process.

Nonrandom patterns: Nonrandom patterns in the data points on a control chart, such as a consistent upward or downward trend, cycles, or oscillations, suggest that the process is not stable. These patterns indicate the presence of special causes of variation.

Runs and streaks: A run or streak refers to a series of consecutive data points that are either above or below the central line on the control chart. Runs or streaks suggest a lack of randomness and indicate that the process is not in control.

Lack of points within control limits: If there are long stretches of data points that are consistently clustered near one control limit or the central line without points within the control limits, it suggests that the process is not stable and may be exhibiting a systematic bias or shift.

Excessive variation: If there is excessive variation in the data points on the control chart, indicated by a wide spread of points around the central line, it suggests that the process is not under control. This can be recognized when the data points exceed the expected range of variation. These situations provide clear indications that a process is out of control and requires investigation and corrective actions to address the underlying causes of the variations. Control charts help in quickly identifying these situations and facilitating timely interventions to maintain process stability and quality.

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The Moment-Generating Function Is Mx(T)=(0.3+0.7e^2t)^8 Find The P.M.F Of X

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The probability mass function (PMF) of a random variable X can be derived from its moment-generating function (MGF). In this case, the MGF of X is given as (0.3 + 0.7e^2t)^8.

To find the PMF of X, we can use the MGF to determine the probabilities associated with each possible value of X. The PMF represents the discrete probability distribution of X.

In this case, the MGF is (0.3 + 0.7e^2t)^8. By expanding and simplifying this expression, we can determine the coefficients of the terms corresponding to each value of X. These coefficients represent the probabilities associated with those values.

Unfortunately, without further information or context, it is not possible to provide the explicit form of the PMF for X in this scenario. Additional details or equations would be required to determine the specific probabilities associated with each value of X.

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Many people identify that some periods of life are more stressful than others. One life event that is considered to be potentially notably stressful is becoming a parent for the first time. Let's assume the average adult living in the US scores a 3.0 on the Life Events Inventory that measures disruptive life events (both positive and negative). If you take a sample of 49 new parents and observe them to have an average score of 5.0 with a standard deviation of 1.5. Using an alpha level of .05, test whether your sample suggests that becoming a new parent is associated with increased stressful experiences. What is the critical statistic for this test?

Answers

To test whether becoming a new parent is associated with increased stressful experiences, we can conduct a one-sample t-test.

Given:
- Sample size (n) = 49
- Sample mean X = 5.0
- Sample standard deviation (s) = 1.5
- Population mean (μ) = 3.0 (average adult score on the Life Events Inventory)

The null hypothesis (H₀) is that there is no significant difference in the average score for new parents compared to the population mean. The alternative hypothesis (H₁) is that there is a significant increase in the average score for new parents.

Using an alpha level of 0.05, we can find the critical statistic (t_critical) using a t-table or statistical software. The degrees of freedom (df) for this test is n-1 = 48. By looking up the critical value for a one-tailed test with an alpha of 0.05 and 48 degrees of freedom, we can find the t_critical value.

The critical statistic (t_critical) will determine whether we reject or fail to reject the null hypothesis based on our calculated t-value from the sample data.

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A department store has determined that 25% of all its sales are credit sales. A random sample of 75 sales is selected. Round all answers to four decimal places. What is the probability that the sample proportion will be a greater than .34? What is the probability that the sample proportion will be b. between .196 and .354 ? What is the probability that the sample proportion will be less C. than .25? What is the probability that the sample proportion will be less d. than. 10?

Answers

Given that a department store has determined that 25% of all its sales are credit sales.

A random sample of 75 sales is selected and we are to find the probability of the following events:

To find this, we need to calculate the z-score as follows:

z = (p - P) / sqrt(P * (1 - P) / n), where P is the population proportion, p is the sample proportion, and n is the sample size.

Substituting the values, we get

z = (.34 - .25) / sqrt(.25 * (1 - .25) / 75)

z = 2.65

The corresponding p-value for the z-score of 2.65 can be obtained using the standard normal distribution table, which is approximately equal to 0.004. Therefore, the probability that the sample proportion will be greater than 0.34 is 0.004.

To find this, we need to calculate the z-score for both the upper and lower limits as follows:

z1 = (.196 - .25) / sqrt(.25 * (1 - .25) / 75)

= -1.83z2

= (.354 - .25) / sqrt(.25 * (1 - .25) / 75)

= 2.26

The corresponding probabilities for the z-scores can be obtained using the standard normal distribution table as follows:

P(z < -1.83) = 0.0344P(z < 2.26)

= 0.9887

Therefore, the probability that the sample proportion will be between 0.196 and 0.354 is given by: P(0.196 < p < 0.354)

= P(z < 2.26) - P(z < -1.83)

= 0.9887 - 0.0344'

= 0.9543

To find this, we need to calculate the z-score as follows:

z = (.25 - .25) / sqrt(.25 * (1 - .25) / 75) = 0

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The average rent in a city is $1,500 per month with a standard deviation of $200. Assume rent follows the normal distribution. [You may find it useful to reference the z table.] a. What percentage of rents are between $1,300 and $1,700 ? (Round your answer to 2 decimal places.) b. What percentage of rents are less than $1,300 ? (Round your answer to 2 decimal places.) c. What percentoge of rents are greater than $1,900 ? (Round your answer to 2 decimal places.)

Answers

The percentage of rents that are greater than $1,900 is 2.28%.

a) What percentage of rents are between $1,300 and $1,700?The average rent in a city is $1,500 per month with a standard deviation of $200.

Assume rent follows the normal distribution.z = (x - μ) / σLet X be a random variable denoting the rent in a city.

Then,μ = $1500σ = $200z1 = (1300 - 1500) / 200 = -1z2 = (1700 - 1500) / 200 = 1P(1300 < X < 1700) = P(-1 < z < 1) = P(z < 1) - P(z < -1) = 0.8413 - 0.1587 = 0.6826

Therefore, the percentage of rents that are between $1,300 and $1,700 is 68.26%.

b) What percentage of rents are less than $1,300?z = (x - μ) / σz = (1300 - 1500) / 200 = -1P(X < 1300) = P(Z < -1) = 0.1587Therefore, the percentage of rents that are less than $1,300 is 15.87%.

c) What percentage of rents are greater than $1,900?z = (x - μ) / σz = (1900 - 1500) / 200 = 2P(X > 1900) = P(Z > 2) = 0.0228

Therefore, the percentage of rents that are greater than $1,900 is 2.28%.

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20. If the joint density of the random variables X and Y is f(x,y) = 0
[emin(x,y) - 1] e-(x+y) if 0 < x, y < [infinity]
otherwise,
then what is the conditional expectation of Y given X = x? Answer to the above question: 20. x/2+1.

Answers

The conditional expectation of Y given X = x is x/2 + 1.

Here, we have

Given: If the joint density of the random variables X and Y is f(x,y) = 0 [emin(x,y) - 1] e-(x+y) if 0 < x, y < [infinity].

A variable having an unknown value or a function that assigns values to each of an experiment's results is referred to as a random variable. A variable having an unknown value or a function that assigns values to each of an experiment's results is referred to as a random variable. A random variable may be continuous or discrete, with defined values or any value falling within a continuous range.

The conditional expectation of Y given X = x is x/2 + 1.

Hence, the statement "x/2 + 1" is the answer to the question.

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Find the z-score such that: (a) The area under the standard normal curve to its left is 0.8319 z= (b) The area under the standard normal curve to its left is 0.7754 Z= (c) The area under the standard normal curve to its right is 0.126 z= (d) The area under the standard normal curve to its right is 0.2823 Z=

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(a) The z-score corresponding to an area of 0.8319 to the left of the standard normal curve is approximately 0.96.

(a) z = 0.96

(b) z = 0.71

(c) z = -1.14

(d) z = -0.57

To find the z-scores for the given areas, we refer to the standard normal distribution table or use statistical software.

For part (a), the z-score is positive as the area is to the left of the mean, indicating a value above the mean.

For part (b), the z-score is positive as the area is to the left of the mean, indicating a value above the mean.

For part (c), the z-score is negative as the area is to the right of the mean, indicating a value below the mean.

For part (d), the z-score is negative as the area is to the right of the mean, indicating a value below the mean.

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The pulse rates of 141 randomly selected adult males vary from a low of 35 bpm to a high of 103 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males: Assume that we want 99% confidence that the sample mean is within 3 bpm of the population mean. Complete parts (a) through (c) below.
a. Find the sample size using the range rule of thumb to estimate a
(Round up to the nearest whole number as needed)
b. Assume that a = 11.3 bpm, based on the values-11.3 bpm from the sample of 141 male pulse rates.
(Round up to the nearest whole number as needed)
c. Compare the results from parts (a) and (b). Which result is likely to be better?
The result from part (a) is
the result from part (b). The result from
iskely to be better because

Answers

(a) the minimum sample size required is 178. (b) the minimum sample size required is 55. (c) the result from part (b) is likely to be better. Using the sample standard deviation (a) in part (b) yields a more precise estimate of the required sample size to achieve the desired confidence level and margin of error.

(a) To find the sample size using the range rule of thumb, we can divide the range of pulse rates by a value called the "range coefficient." The range coefficient is a rough estimate of the standard deviation based on the range of the data. It is typically assumed to be around 4 for a reasonably symmetrical distribution.

The range of pulse rates in this case is 103 bpm - 35 bpm = 68 bpm. Dividing this by the range coefficient of 4 gives us an estimated standard deviation of approximately 17 bpm.

To estimate the sample size, we can use the formula:

Sample size = (Z * σ / E)^2

where Z is the Z-score corresponding to the desired confidence level (99% in this case), σ is the estimated standard deviation, and E is the desired margin of error (3 bpm).

Using the Z-score for 99% confidence (which corresponds to approximately 2.58), the formula becomes:

Sample size = (2.58 * 17 / 3)^2 ≈ 177.2

Rounding up to the nearest whole number, the minimum sample size required is 178.

(b) In part (b), we are given a specific value for the estimated standard deviation (a) based on the sample of 141 male pulse rates. The formula for sample size remains the same:

Sample size = (Z * σ / E)^2

Plugging in the values, we get:

Sample size = (2.58 * 11.3 / 3)^2 ≈ 54.1

Rounding up to the nearest whole number, the minimum sample size required is 55.

(c) Comparing the results from parts (a) and (b), we can see that the result from part (a) (178) is larger than the result from part (b) (55). In this case, the result from part (b) is likely to be better.

The reason is that the estimated standard deviation (a) in part (b) is based on the actual data from the sample of 141 males, which provides a more accurate representation of the population variability compared to using the range rule of thumb in part (a). Therefore, using the sample standard deviation (a) in part (b) yields a more precise estimate of the required sample size to achieve the desired confidence level and margin of error.

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An automatic machine in a manufacturing process is operating groperly if the iengths of an important subcomponent are normally distributed with a mean of izal cri and a otandard deviation of 5.6 cm. A. Find the probability that one selected subcomponent is longer than 122 cm, Probability = B3. Find the probability that if 3 subcomponents are randomly selected, their mean length exceeds 122 cm. Probability win C. Find the probabilify that if 3 are randomly selected, ail 3 have lengths that exceed 122 cm. Probability =

Answers

A. The probability that one selected subcomponent is longer than 122 cm can be found by calculating the area under the normal distribution curve to the right of 122 cm. We can use the z-score formula to standardize the value and then look up the corresponding probability in the standard normal distribution table.

z = (122 - μ) / σ = (122 - 100) / 5.6 = 3.93 (approx.)

Looking up the corresponding probability for a z-score of 3.93 in the standard normal distribution table, we find that it is approximately 0.9999. Therefore, the probability that one selected subcomponent is longer than 122 cm is approximately 0.9999 or 99.99%.

B. To find the probability that the mean length of three randomly selected subcomponents exceeds 122 cm, we need to consider the distribution of the sample mean. Since the sample size is 3 and the subcomponent lengths are normally distributed, the distribution of the sample mean will also be normal.

The mean of the sample mean will still be the same as the population mean, which is 100 cm. However, the standard deviation of the sample mean (also known as the standard error) will be the population standard deviation divided by the square root of the sample size.

Standard error = σ / √n = 5.6 / √3 ≈ 3.24 cm

Now we can calculate the z-score for a mean length of 122 cm:

z = (122 - μ) / standard error = (122 - 100) / 3.24 ≈ 6.79 (approx.)

Again, looking up the corresponding probability for a z-score of 6.79 in the standard normal distribution table, we find that it is extremely close to 1. Therefore, the probability that the mean length of three randomly selected subcomponents exceeds 122 cm is very close to 1 or 100%.

C. If we want to find the probability that all three randomly selected subcomponents have lengths exceeding 122 cm, we can use the probability from Part A and raise it to the power of the sample size since we need all three subcomponents to satisfy the condition.

Probability = (0.9999)^3 ≈ 0.9997

Therefore, the probability that if three subcomponents are randomly selected, all three of them have lengths that exceed 122 cm is approximately 0.9997 or 99.97%.

Based on the given information about the normal distribution of subcomponent lengths, we calculated the probabilities for different scenarios. We found that the probability of selecting a subcomponent longer than 122 cm is very high at 99.99%. Similarly, the probability of the mean length of three subcomponents exceeding 122 cm is also very high at 100%. Finally, the probability that all three randomly selected subcomponents have lengths exceeding 122 cm is approximately 99.97%. These probabilities provide insights into the performance of the automatic machine in terms of producing longer subcomponents.

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A tank has the shape of an inverted circular cone with base radius 6 m and height 12 m. It’s filled with water to a height of 10 m. Find the work required to empty the tank by pumping all of the water to the top of the tank. ( The water mass density is 1000 kg/m^3)

Answers

To find the work required to empty the tank, we need to calculate the potential energy of the water in the tank. The work required to empty the tank by pumping all of the water to the top is 3,720,000π J.

The tank has the shape of an inverted circular cone with a base radius of 6 m and a height of 12 m. The water is filled to a height of 10 m. Given that the water mass density is 1000 kg/m³, we can determine the work required to pump the water to the top of the tank.

The potential energy of an object is given by the equation PE = mgh, where m is the mass of the object, g is the acceleration due to gravity, and h is the height. In this case, the mass of the water can be calculated using its density and volume.

The volume of the water in the tank can be determined using the formula for the volume of a cone: V = (1/3)πr²h, where r is the base radius and h is the height. Substituting the given values, we find the volume of the water to be V = (1/3)π(6²)(10) = 120π m³.

The mass of the water can be calculated by multiplying the volume by the density: m = Vρ = (120π)(1000) = 120,000π kg.

The work required to pump the water to the top of the tank is equal to the potential energy of the water, which is given by PE = mgh. Substituting the values, we have PE = (120,000π)(9.8)(10) = 3,720,000π J.

Therefore, the work required to empty the tank by pumping all of the water to the top is 3,720,000π J.

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The closing price of Schnur Sporting Goods Incorporated common stock is uniformly distributed between $20 and $40 per share.
What is the probability that the stock price will be:
a. More than $33? (Round your answer to 4 decimal places.)
b. Less than or equal to $25? (Round your answer to 4 decimal places.)

Answers

The probabilities are:

a. More than $33: 0.3500

b. Less than or equal to $25: 0.2500.

The probability that the stock price of Schnur Sporting Goods Incorporated will be more than $33 can be calculated using the uniform distribution. Similarly, the probability that the stock price will be less than or equal to $25 can also be determined using the same distribution.

In a uniform distribution, the probability of an event occurring within a given interval is proportional to the length of that interval. In this case, the stock price is uniformly distributed between $20 and $40 per share.

a. To find the probability that the stock price will be more than $33, we need to calculate the length of the interval from $33 to $40 and divide it by the total length of the distribution (from $20 to $40). The probability is given by (40 - 33) / (40 - 20), which equals 7 / 20. Rounding to 4 decimal places, the probability is approximately 0.3500.

b. To find the probability that the stock price will be less than or equal to $25, we calculate the length of the interval from $20 to $25 and divide it by the total length of the distribution. The probability is (25 - 20) / (40 - 20), which simplifies to 5 / 20. Rounding to 4 decimal places, the probability is approximately 0.2500.

Therefore, the probabilities are:

a. More than $33: 0.3500

b. Less than or equal to $25: 0.2500.


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A marine biologist claims that the mean length of mature female pink seaperch is different in fall and winter. A sample of 10 mature female pink seaperch collected in fall has a mean length of 112 millimeters and a standard deviation of 13 millimeters. A sample of 2 mature female pink seaperch collected in winter has a mean length of 109 millimeters and a standard deviation of 12 millimeters. At α=0.20, can you support the marine biologist's claim? Assume the population variances are equal. Assume the samples are random and independent, and the populations are normally distributed. Complete parts (a) through (e) below. The null hypothesis, H0​ The alternative hypothesis, Ha​ (b) Find the critical value(s) and identify the rejection region(s). Enter the critical value(s) below. (Type an integer or decimal rounded to three decimal places as needed. Use a comma to separate answers as needed.)

Answers

a) The mean length of mature female pink seaperch is different in fall and winter. b) The rejection region is when the test statistic t falls outside the range (-2.228, 2.228).

(a) The null hypothesis, H₀: The mean length of mature female pink seaperch is the same in fall and winter.

The alternative hypothesis, Ha: The mean length of mature female pink seaperch is different in fall and winter.

(b) To find the critical value(s) and identify the rejection region(s), we need to perform a two-sample t-test. Since the samples are small (n₁ = 10 and n2 = 2), we need to use the t-distribution.

Given α = 0.20 and the two-tailed test, the rejection regions are located in the upper and lower tails of the t-distribution.

To find the critical value(s), we need to determine the degrees of freedom (df) using the formula:

[tex]df = (s_1^2/n_1 + s_2^2/n_2)^2 / [(s_1^2/n_1)^2 / (n_1 - 1) + (s_2^2/n_2)^2 / (n_2 - 1)][/tex]

In this case, s₁ = 13 (standard deviation of the fall sample), s₂ = 12 (standard deviation of the winter sample), n₁ = 10 (sample size of fall), and n₂ = 2 (sample size of winter).

Substituting the values, we have:

[tex]df = (13^2/10 + 12^2/2)^2 / [(13^2/10)^2 / (10 - 1) + (12^2/2)^2 / (2 - 1)][/tex]

≈ 12.667

Using the t-distribution table or statistical software, the critical value for a two-tailed test with α = 0.20 and df ≈ 12.667 is approximately ±2.228.

Therefore, the rejection region is when the test statistic t falls outside the range (-2.228, 2.228).

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In how many different ways can we sit n people around a round table? The sits are indistinguishable but the relative position of people is not. 3. A license plate can have four one-digit numbers or two one-digit numbers and two letters. How many different license plates are there?

Answers

There are 686,000 different license plates.

To solve this problem, we can fix one person's position and arrange the remaining (n-1) people around the table.

Since the seats are indistinguishable, we divide the total number of arrangements by n to avoid counting duplicate arrangements.

The number of different ways to sit n people around a round table is (n-1)!.

A license plate can have four one-digit numbers or two one-digit numbers and two letters.

For the first case, where the license plate has four one-digit numbers, there are 10 choices for each digit (0-9).

Therefore, there are 10 choices for the first digit, 10 choices for the second digit, 10 choices for the third digit, and 10 choices for the fourth digit. In total, there are 10^4 = 10,000 different license plates.

For the second case, where the license plate has two one-digit numbers and two letters, there are 10 choices for each digit and 26 choices for each letter (assuming only uppercase letters).

Therefore, there are 10 choices for the first digit, 10 choices for the second digit, 26 choices for the first letter, and 26 choices for the second letter. In total, there are 10^2 * 26^2 = 676,000 different license plates.

Different license plate = 10,000 + 676,000

                                     = 686,000

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Paul Misener, Amazon's vice president of global innovation policy and communications, says: If a customer runs out of coffee or toothpaste, two-day shipping may not be the right choice. We're developing shipping options so they can choose what works best for them' The company imagines scenarios such as having forgotten to bring a corkscrew to a picnic and ordering one to be delivered by air, or running out of milk and deciding it is easier to use Prime Air than go to the supermarket. Questions have also been asked about the security of drones packed with potentially high value goods, which could prove tempting targets for the criminally inclined Amazon doesn't believe this will be an issue, pointing out delivery trucks, which carry far more products than a single drone can, are not routinely victims of crime Whether the economics stack up or not, and Amazon clearly believes they do, how drones will work in the existing aviation environment is the biggest challenge to their development Integration is the number one, two and three biggest problem for drones', says a member of the Royal Aeronautical Society's unmanned aerial vehicle group. Think of them like bikes on the road. It would be lovely to have cycle lanes everywhere but it's just not practical, they have to fit in with the cars and lones" Perhaps more difficult will be working out how drones will operate in a complex urban environment, where buildings can rise above the 400 ft celing, and hard-to-detect 25 33 34 Perhaps more difficult will be working out how drones will operate in a complex urban environment, where buildings can rise above the 400 tt ceiling, and hard-to-detect obstacles such as telephone wires are common. The internet retailer is confident it can overcome such worries, but there is a host of other factors to consider Weather is one, wind and rain can have a huge impact on such small aircraft, making them hard to fly. Range is another although the drones' current range of ten miles is expected to increase, Amazon would need, to massively expand its distribution network to hit the target of deliveries within thirty minutes. Physically getting the packages into customers' hands also raises questions These problems are all to be solved, but with Amazon's might behind the project, there's a good chance solution can be found. Source Alan Tovey "Can Amazon's drones deliver the Back to the Future world? The Telegraph, 31 July 2016 Telegraph Media Group Limited Questions-2 marks each 1. Explain the Blue Ocean Strategy of Amazon. 2. What are the advantages of Amazon's Strategy? 3. What are the main challenges of Amazon's strategy and how can amazon overcome these challenges? For the foolhar prest 20.Wensum Ltd is about to launch a new service which is expected to generate a gross profit of 40% on sales. The fixed costs associated with this service are expected to be 40,000 per month during the first six months and 30,000 per month thereafter. Additional variable selling expenses are expected to be 5% of sales. Calculate the annual sales needed to achieve a net profit of 230,000 in the first year from the new service. A. 657,143 B. 1,000,000 C. 1,444,444 D. 1,857,143 Then explain this question: Which of the following hurdles is likely to lead to the acceptance of the greatest number of projects for most companies? Acceptable projects must have A a Net Present Value (NPV) which is greater than zero B. an Internal Rate of Return (IRR) that is greater than zero C. a payback period that is less than two years D. an Accounting Rate of Return (ARR) that is twice the existing return on capital employed Give some examples of Intranet misuse and how they can be avoided. Consider the discrete probability distribution to the right when answering the following question. Find the probability that x exceeds 5. X P(x) ER 2 0.06 Question 12 5 ? 7 0.19 8 0.16 T 4 pts Measurement data for part hole diameter had been collected for 30 days with 5 samples per day. The total Xbar value calculated is 285 mm and the total R-value is 90 mm. Calculate: a. UCLx b. LCLx C. UCLR d. LCLR e. Standard deviation f. Variance Maxwell Mining Company's ore reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 9% per year. If D0 = $3 and rs = 10%, what is the value of Maxwell Mining's stock? Suppose that the market demand and supply for broccoli is given as follows:Demand: Q = 87 - 3.6PSupply: Q = -3 + 2.6PA supply shock caused by recent floods shifts the supply curve to Q = -31 + 2.6P. How much must consumers be subsidised per unit of broccoli purchased so that the quantity transacted on the market returns to the level before the supply shock. The government budget surplus equalsPart 2A. government purchases minus net receipts.B. government purchases minus transfers.C. government receipts minus government outlays.D. government purchases plus transfers. (a) Rea ange the formula v 3 P + 5 10 to make p the subject. Find solutions for your homeworkFind solutions for your homeworkbusinessaccountingaccounting questions and answersof furniture store, inc. income statement years ended december 31, 2019 and 2018 2019 $494,000 $472,000 243,000 231,000 $251,000 $241,000 150,000 142,000 $101,000 $ 99,000 18,000 14,000 $ 87,000 $ 81,000 23,000 17,000 $ 64,000 $ 64,000 prepare a common-size income statement (vertical analysis) for the two years. argument whether the company's profitabilityThis problem has been solved!You'll get a detailed solution from a subject matter expert that helps you learn core concepts.See AnswerQuestion: Of Furniture Store, Inc. Income Statement Years Ended December 31, 2019 And 2018 2019 $494,000 $472,000 243,000 231,000 $251,000 $241,000 150,000 142,000 $101,000 $ 99,000 18,000 14,000 $ 87,000 $ 81,000 23,000 17,000 $ 64,000 $ 64,000 Prepare A Common-Size Income Statement (Vertical Analysis) For The Two Years. Argument Whether The Company's ProfitabilityofFurniture store, Inc.Income StatementYears Ended December 31, 2019 and 20182019$494,000$472,000243,000231,000$251,Show transcribed image textExpert Answer100% answer image blurTranscribed image text: of Furniture store, Inc. Income Statement Years Ended December 31, 2019 and 2018 2019 $494,000 $472,000 243,000 231,000 $251,000 $241,000 150,000 142,000 $101,000 $ 99,000 18,000 14,000 $ 87,000 $ 81,000 23,000 17,000 $ 64,000 $ 64,000 Prepare a common-size income statement (vertical analysis) for the two years. Argument whether the company's profitability improved or deteriorated during 2019 and why. A B I EE Net Sales Revenues Cost of Goods Sold Gross Profit Operating Expenses Operating Income Interest Expense Income Before Income Tax Income Tax Expense Net Income Requirements: 1. 2. 7 20 2 1 2018 Discuss in detail the following Theoretical Models ofDecision Making.1. " Rational Model."2. "Participatory Model."Use proper references to support yourdiscussion. Cournot Oligopoly2. Now, assume your buffalo wing firm is in a Cournot oligopoly with 3 additional firms. The market elasticity of demand for buffalo wings is -0.70. Find your firm's elasticity of demand. (5 pts)((4 -0.7)/(1+4 -0.7))*5.05=7.86)Now find the profit-maximizing price for your firm if your marginal cost is $3.70. (5 pts)Price Discrimination3. First Degree: If you could engage in 1st degree price competition, what would this mean for how you would price the buffalo wings? Use P=20-2.5Q and the profit-maximizing price and quantity you found in the first question, find the total extra profit you would receive. (5 pts)4. 2nd Degree price discrimination: no math. What would be an example of 2nd degree price discrimination for a buffalo wing restaurant? (5 pts)5. 3rd degree price discrimination: No math. How could a buffalo wing restaurant use 3 degree price discrimination? Which group(s) would get a lower price and why? (5 pts)6. Two-Part Pricing: You run a franchise of that sells buffalo wings that operates by having memberships and then a cheaper per-unit fee to get a pound of wings. Your overall customer demand (for 500 customers) is P = 400-2.50. Your cost function is 6,000+ 1.5Q (MC = 1.5).a. What per-unit fee will you charge for a pound of wings? (5 pts)b. What membership fee will you charge per customer? (5 pts)7. Block Pricing: You're deciding how many wings to sell at a time. If P-50-4Q and MC-2 for 40 customers, find how many wings to sell at once and the optimal price per customer. (5 pts) one's position in a particular social group or structure is called a moring Enabled Ch 18 Quiz If a company has sales of $2,500 and variable costs of $1,500, then its contribution margin ratio equals 40 True or False True False