Managers are required to make many tough decisions over the course of a workday. One of the tough decisions a manager may be faced with is the decision to drop an existing customer from their portfolio. Some companies refuse to drop customers (including non-profitable customers) in the hopes that these unprofitable customers will become profitable in the future. Other companies do not want unprofitable customers impacting their bottom-line year after year and choose to drop them. In your opinion, when should unprofitable customers be dropped (if at all)? Provide an example from a newspaper or other media sources from the past three months to support your argument.

It is known that 40% of American Idol winners become famous. A sample of 50 American Idol winners are randomly selected.

(a) [1] What is the probability that exactly 25 of them become famous?

(b) [1] Find the probability that at least 20 of them become famous.

(c) [2] What is the probability that between 17 and 27 (including both 17 and 27) of them become famous.

(d) [2] Find the expected number of American Idol winners become famous in this sample and its standard deviation.

Exhibit 3
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. You are given the following information.

Refer to Exhibit 3. A 95% confidence level the interval estimate for the difference between the average purchases of the customers using the two different credit cards is

Select one:

a. $2.19 to $8.48

b. $2.02 to $7.97

c. $2.56 to $8.41

d. $2.83 to $7.10

Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2021, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,600,000. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows: At 12-31-2021 At 12-31-2022 At 12-31-2023 Percentage of completion 10 % 60 % 100 % Costs incurred to date $ 369,000 $ 2,940,000 $ 4,960,000 Estimated costs to complete 3,321,000 1,960,000 0 Billings to Axelrod, to date 730,000 2,370,000 4,600,000 Required: 1. Compute gross profit or loss to be recognized as a result of this contract for each of the three years. Curtiss concludes that the contract does not qualify for revenue recognition over time. 2. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years. 3. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2021 and 2022 as either cost in excess of billings or billings in excess of costs.

omplete this question by entering your answers in the tabs below.

• Req 1 and 2
• Req 3

Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2021 and 2022 as either cost in excess of billings or billings in excess of costs.

An office equipment corporation performs preventive maintenance and repair on the line of copiers that it sells. For 45 recent service calls data has been collected on the number of copiers serviced during the call and the number of minutes spent on the call by the service person. The company would like to develop a regression model that can be used to predict the amount of time (in minutes) that a call will require based on the number of copiers that need to be serviced.

(c)        Interpret the value of the sample slope in the context of this problem.

(d)          Find a 95% confidence interval for the population slope.

(e)          Report and interpret the value of the coefficient of determination R². Also calculate the value of the correlation coefficient r.

An office equipment corporation performs preventive maintenance and repair on the line of copiers that it sells. For 45 recent service calls data has been collected on the number of copiers serviced during the call and the number of minutes spent on the call by the service person. The company would like to develop a regression model that can be used to predict the amount of time (in minutes) that a call will require based on the number of copiers that need to be serviced.

(c)        Interpret the value of the sample slope in the context of this problem.

(d)          Find a 95% confidence interval for the population slope.

(e)          Report and interpret the value of the coefficient of determination R². Also calculate the value of the correlation coefficient r.

Let x represent the dollar amount spent on supermarket impulse buying in a 10-minute (unplanned) shopping interval. Based on a certain article, the mean of the x distribution is about $25 and the estimated standard deviation is about $8.

(a) Consider a random sample of n = 100 customers, each of whom has 10 minutes of unplanned shopping time in a supermarket. From the central limit theorem, what can you say about the probability distribution of x, the average amount spent by these customers due to impulse buying? What are the mean and standard deviation of the x distribution?

The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $8. The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $0.08.     The sampling distribution of x is not normal. The sampling distribution of x is approximately normal with mean μ_x = 25 and standard error σ_x = $0.80.

Is it necessary to make any assumption about the x distribution? Explain your answer.

It is necessary to assume that x has a large distribution. It is not necessary to make any assumption about the x distribution because μ is large.     It is necessary to assume that x has an approximately normal distribution. It is not necessary to make any assumption about the x distribution because n is large.

(b) What is the probability that x is between $23 and $27? (Round your answer to four decimal places.)


(c) Let us assume that x has a distribution that is approximately normal. What is the probability that x is between $23 and $27? (Round your answer to four decimal places.)


(d) In part (b), we used x, the average amount spent, computed for 100 customers. In part (c), we used x, the amount spent by only one customer. The answers to parts (b) and (c) are very different. Why would this happen?

The standard deviation is larger for the x distribution than it is for the x distribution. The sample size is smaller for the x distribution than it is for the x distribution.     The standard deviation is smaller for the x distribution than it is for the x distribution. The x distribution is approximately normal while the x distribution is not normal. The mean is larger for the x distribution than it is for the x distribution.

In this example, x is a much more predictable or reliable statistic than x. Consider that almost all marketing strategies and sales pitches are designed for the average customer and not the individual customer. How does the central limit theorem tell us that the average customer is much more predictable than the individual customer?

The central limit theorem tells us that small sample sizes have small standard deviations on average. Thus, the average customer is more predictable than the individual customer. The central limit theorem tells us that the standard deviation of the sample mean is much smaller than the population standard deviation. Thus, the average customer is more predictable than the individual customer.

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1. Carve out the application layer data
2. The application is HTTP, what is the status code returned by the HTTP header?
3. When does the first cookie mentioned in the HTTP header expire?
4. What is the source MAC address
5. What is the destination MAC address

1. Perfect competition vs. monopoly:

a) What is the difference between the demand curve faced by a perfectly competitive firm and a perfectly competitive industry and a monopolist firm?

b) What is the difference between the total revenue curve faced by a perfectly competitive firm and a monopolist firm? How about the marginal revenue curve?