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Korvikt [17]
2 years ago
9

The owner of touchdown sports bar wants to develop a time standard for the task of mixing a specialty cocktail. in a preliminary

study, he observed one of his bartenders perform this task seven times with an average of 90 seconds and a standard deviation of five seconds. how many observations should be made if he wants to be 95.44 percent confident that the maximum error in the observed time is one second?
Business
1 answer:
katen-ka-za [31]2 years ago
4 0
<span>100 observations needed for desired accuracy and confidence. The formula for the confidence of a sampling is: ME = z*d/sqrt(n) where ME = Margin of error z = z score for desired level of confidence d = standard deviation n = number of samples The z score desired is calculated as follows. If you want a 95% confidence, you calculate 1 - 0.95 = 0.05, then you divide the result by 2, getting 0.025, and finally you use a standard normal table to get the z score for the desired probability. So for this problem of 95.44% we get (1 - 0.9544)/2 = 0.0456/2 = 0.0228 Looking up a standard normal table, the value of 0.0228 is found to have a z-score of 2.0, a.k.a. 2 standard deviations from the normal. So let's substitute the known values into the formula and solve for n. ME = z*d/sqrt(n) 1 = 2*5/sqrt(n) sqrt(n) = 2*5 sqrt(n) = 10 n = 100 So the owner needs at least 100 samples to be 95.44% certain that his measurement error is within 1 second of the correct time.</span>
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Jackson Electric Services Company incurred​ $800 as a repair expense and paid for it in cash. The company is a sole proprietorsh
almond37 [142]

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Ware Manufacturing Company produced 2,000 units of inventory in January 2018. It expects to produce an additional 14,000 units d
lana66690 [7]

Answer:

Total production cost= $266,380

Explanation:

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<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

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4 0
2 years ago
Harley signs a check payable to Pro Accountants, P.C., and gives it to Pro, leaving the amount blank but authorizing the firm to
Evgen [1.6K]

Answer:

The correct answer to the following question is option C) $15,000 .

Explanation:

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4 0
2 years ago
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exis [7]

Answer:

A. standard deviation = $500, expected return = $5,000

Explanation:

For analysis which investment involved the least amount of risk we need to determine the coefficient of variation i.e. shown below:

As we know that

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As it can be seen that investment A has the leas amount of risk hence, the same is to be considered

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2 years ago
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