Question
In: Statistics and Probability
The demand (in number of copies per day) for a city newspaper, x, has historically been...
|
The demand (in number of copies per day) for a city newspaper,
x, has historically been 43,000, 62,000, 74,000, 89,000, or 104,000
with the respective probabilities .2, .16, .4, .2, and
.04. |
| (b) | Find the expected demand. (Round your answer to the nearest whole number.) |
| µx |
| (c) |
Using Chebyshev's Theorem, find the minimum percentage of all possible daily demand values that will fall in the interval [μx ± 2σx]. (Round your answer to the nearest whole number. Input your answers to minimum percentage and percentage of all possible as percents without percent sign.) |
| The minimum percentage of all possible daily demand values is percent. |
| (d) |
Calculate the interval [μx ± 2σx]. According to the probability distribution of demand x previously given, what percentage of all possible daily demand values fall in the interval [μx ± 2σx]? (Round your intermediate values to the nearest whole number. Round your answers to the nearest whole number. Input your answers to minimum percentage and percentage of all possible as percents without percent sign.) |
| The interval is [ , ]. | ||
| The percentage of all possible daily demand values that fall in the interval is percent. |
Solutions
orchestra answered 1 year agoRelated Solutions
The demand (in number of copies per day) for a city newspaper, x, has historically been...
The demand (in number of copies per day) for a city newspaper,
x, has historically been 46,000, 58,000, 70,000, 82,000, or 100,000
with the respective probabilities .2, .16, .5, .1, and
.04.
(b)
Find the expected demand. (Round your answer to the
nearest whole number.)
(c)
Using Chebyshev's Theorem, find the minimum percentage of all
possible daily demand values that will fall in the interval
[μx ± 2σx]. (Round
your answer to the nearest whole number. Input your answers to...
An average of 0.8 accident occur per day in a particular large city. Let x be...
An average of 0.8 accident occur per day in a particular large
city. Let x be the number of accidents per day. What is the
probability, rounded to the nearest 4 decimal places, that no
accident will occur in this city on a given day?
What is the probability, rounded to the nearest 4 decimal
places, that one or two accidents will occur in this city on a
given day?
A really bad carton of 18 eggs contains 7 spoiled...
How expensive is Maui? A newspaper gave the following costs in dollars per day for a...
How expensive is Maui? A newspaper gave the following costs in
dollars per day for a random sample of condominiums located
throughout the island of Maui.
87
50
70
60
355
55
500
71
41
350
60
50
240
45
45
125
235
65
60
120
(a) Compute the mean, median, and mode for the data. (Round your
answers to two decimal places.)
mean
$?
median
$?
mode
$?
2.) Compute a 5% trimmed mean for the data, and compare...
A product has a daily demand of 26 units per day. Ordering costs are $60 per...
A product has a daily demand of 26 units per day. Ordering costs
are $60 per order. The annual carrying costs are measured at 20% of
item value. Your supplier has offered you three item cost/price and
quantity scenarios (1) you pay $150 per unit if your order quantity
is 199 units or less, (2) you pay $121 per unit if your order
quantity is between 200 and 4999 units, and (3) you pay $114 per
unit if your order...
The demand function for JZ bicycles in Super City has been estimated to be: Q =...
The demand function for JZ bicycles in Super City has been
estimated to be:
Q = 4,000 - 11P + 30I
Below is additional information concerning this Regression:
Standard Error (SE) of the Intercept coefficient = 700
Standard Error (SE) of the price coefficient = 0.64
Standard Error (SE) of the Income coefficient = 1.40,
R-Square = 0.64,
Adjusted R-Square = 0.61,
F-Statistic = 31.402,
Q is quantity demanded of JZ bicycles per year, P is the price
of JZ...
Predict the expected number of interruptions for a day that has 150 users per hour on...
Predict the expected number of interruptions for a day that has
150 users per hour on average, using a
point estimate and a 95% interval.
DATA four;
INPUT interruptions usage;
cards;
0 104.2
2 124.6
5 176.3
6 169.3
1 104.6
2 115.8
3 127.8
6 179.4
8 210.5
4 126.7
0 100.5
1 119.5
1 123.8
0 106.4
4 156.7
3 148.2
5 156.2
6 167.3
8 198.2
2 124.6
3 145.9
4 156.2
;
run;
1. Generally speaking, U.S. labor demand has historically _____ over time; U.S. labor supply has historically...
1. Generally speaking, U.S. labor demand has historically _____
over time; U.S. labor supply has historically _____ over time.
Group of answer choices
increased; increased
decreased; increased
decreased; decreased
increased; decreased
2. If a decrease in the minimum wage causes the market wage to
decrease, then
Group of answer choices
the quantity of labor supplied will decrease and the quantity of
labor demanded will increase
the quantity of labor supplied will stay constant and the
quantity of labor demanded will...
Historically, the number of cars arriving per hour at Lundberg’s Car Wash is observed to be...
Historically, the number of cars arriving per hour at Lundberg’s
Car
Wash is observed to be the following:
Number of Cars Arriving
Frequency
4
10
5
30
6
50
7
65
8
45
Total:
200
a. Set up a probability distribution table (including the lower
end of
the probability range) for the car arrivals.
b. Simulate 25 hours of car arrivals. What is the average number
of
arrivals per hour?
c. Repeat part b multiple times (by pressing F9). Over...
This question has parts a, b and c below. The demand for product X has been...
This question has parts a, b and c below.
The demand for product X has been estimated to be:
QxD = 30,000 - 4Px - 6Py +
8Pz - 0.0001Income
a) X and Y are complements
True or False and Explain. 3marks.
b) X and Z are substitutes.
True or False and Explain. 3 marks.
c) X is a normal good.
True or False and Explain. 3 marks.
Demand for Coca Cola at a local restaurant is 60 bottles per day with a standard deviation of 15 bottles per day.
Demand for Coca Cola at a local restaurant is 60 bottles per day with a standard deviation of 15 bottles per day.
a. Compute the probability that demand will be at most 1700 bottles during the next 28 days.
b. Compute the number of bottles the restaurant should stock to have at most a 9% chance of running out over the next 28 days.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- 1. What is the historical role of investment bankers ? Has this role changed ? Why...
- How were the original Internet requirements met through its design? What are the two main requirements...
- discuss crowdfunding on platforms: What features of the services incorporate virality? What are some of the...
- A textbook of mass 2.08 kg rests on a frictionless, horizontal surface. A cord attached to...
- Describe a time when someone did not really listen to or understand a point you were...
- Enumerations Create an advanced enumeration to represent months (JANUARY – DECEMBER) called enuMonths Add internal properties...
- What is the minimum size of the automorphism group of a simple directed graph having more...
ADVERTISEMENT