An investigation of past consumer surveys done by a company reveals that 2/3 of customers contacted...

An investigation of past consumer surveys done by a company reveals that 2/3 of customers contacted respond to the survey. The marketing manager wants to do a new survey and plans to contact 198 customers.

(a) How many responses should the manager expect to receive?

(b) Give an approximation of the probability that 140 or more customers will respond.

(c) Give an approximation of the probability that 135 to 150 customers will respond.

(d) Give an approximation of the probability that 130 or less customers will respond.

(e) Compare your approximate answers with the exact probability values obtained on Excel.

Expert Solution

Continuity correction rules for approximation :

milcah answered 1 year ago

2 Hold-up problem Assume that an Indian firm is contacted by a multinational car company to...

2 Hold-up problem Assume that an Indian firm is contacted by a multinational car company to produce brake systems. This requires an initial specific investment of I from the Indian sub- contractor and a variable cost c per braking system. The car company plans to buy n braking systems from the subcontractor at price p per braking system. a. Looking from now, at what price, p = p0, the Indian subcontractor would break even? b. Once the specific investment is...

1. sign and symptoms 2. investigation 3. treatment 4. complication 5. last study

(I want lika a persentaiton ) About (Topic: peptic ulcer) 1. sign and symptoms 2. investigation 3. treatment 4. complication 5. last study

MNBA is a company that sells chem-lab supplies. In the past, customers had spent an average...

MNBA is a company that sells chem-lab supplies. In the past, customers had spent an average of $6,800 annually, but management believes that the number has decreased in the last year. In order to test this, one manager looks at a sample of 40 customers' spending last year. The results can be found in the file ASpending, Hypothesis Testing. The manager would like to test her hypothesis at an alpha level of 0.1. She also believes that the standard deviation...

2. A serial dilution of patient serum is done: Tube #1 Tube #2 Tube #3 Tube...

2. A serial dilution of patient serum is done: Tube #1 Tube #2 Tube #3 Tube #4 Tube #5 Tube #6 1:2 1:4 1:8 1:16 1:32 1:64 One milliliter of RBCs is added to each tube and the following is noted: Tube #1 No agglutination Tube #2 No agglutination Tube #3 Agglutination Tube #4 Agglutination Tube #5 Agglutination Tube #6 Agglutination a. What has happened in Tubes #1 and 2? b. What is the antibody titer? 3. You suspect that...

list and explain 2-3 characteristics of this “new consumer culture” that was unique to the Roaring...

list and explain 2-3 characteristics of this “new consumer culture” that was unique to the Roaring Twenties.

Question 1: Why are banks regulated and protected by government? Question 2: In the past 3...

Question 1: Why are banks regulated and protected by government? Question 2: In the past 3 years, briefly summarize one major Bank Fraud example?

A company advertises that the mean diameter of pipes is 3 inches however, a consumer agency...

A company advertises that the mean diameter of pipes is 3 inches however, a consumer agency believes that the mean diameter of these pipes is larger. A random sample of N = 36 pipes is taken and it is found the the sample mean diameter is 3.15 inches with a sample standard deviation of S = .2 inches. Test this hypothesis at 95% significance level. Your conclusion is: Fail to reject the null Reject the null

Case 3 – Corporate Risk Management A manufacturing company of consumer products that is based in...

Case 3 – Corporate Risk Management A manufacturing company of consumer products that is based in Japan is considering entering new market in a Latin American country by exporting its products for sale there. Explain various risks it faces from expanding its market! Provide an example of each risk explained (10%) Hellenistic Cruise is purchasing three new cruise ships to build sequentially. The first ship will commence construction today and take one year to build. The second will then be...

the company is going to send 2 different catalogs to their customers. One of the catalogs...

the company is going to send 2 different catalogs to their customers. One of the catalogs costs 50 cents to make and is 50 pages long. The conversion rate for the catalog is 5% and each customer brings in 315 dollars. The second catalog costs 95 cents to make, is 100 pages long and each customer brings in 300 dollars from it. The profit margin is 30%. What should the conversion rate for the second catalog be to make at...

For the past 2 or 3 years, Donna has always had fasting blood sugar levels in...

For the past 2 or 3 years, Donna has always had fasting blood sugar levels in the 100-120 mg/dL range. When she presents in your clinic however, her fasting blood sugar is 137 mg/dL and her hemoglobin A1c is 8.3%. Donna’s 24-hr recall includes: Breakfast: English muffin with 2 t. butter, 1 slice American cheese, 1 Jimmy Dean sausage patty, 20 oz. water Snack: 1 large (4x4”) brownie Lunch: chicken salad sandwich on 2 slices wheat bread with lettuce, tomato,...

Question