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butalik [34]
2 years ago
6

You are working part-time at a road construction firm. your boss knows you are learning some statistics in your classes this sem

ester and calls you into the office. he says, "we've taken sample densities from loads of asphalt we've gotten from our supplier. the information from their company says their process produces a consistent density with a standard deviation of 2.65 pounds per cubic foot. here's the data we've collected. can you give me an estimate of the average density that our supplier's process is producing? i want to be 80% confident of the range you provide."
Business
1 answer:
____ [38]2 years ago
5 0
Missing data can found here https://www.dropbox.com/s/u5t2sjj7pglu7iw/CIData%20%281%29.txt?dl=0
The first step is to calculate the mean of the data provided.
\mu=\frac{a_1+a_2+a_3\cdots a_k}{k}
k is a number of points in our data set. 
The mean for our data set is \mu=145.80.
Now we need to find the range associated with confidence level required.
Z score associated with a confidence level of 80% percent is 1.28. 
We know that our range has to be z\cdot\delta in order for us to be 80% confident in our result. As the confidence level rises z score associated with it also rises. This makes sense because the broader your range is more confident you are that measurement will fall within that range.
The final answer would be:
\rho=\mu \pm z\delta=145.80 \pm 3.39



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During a recent 30-day period, the Squish restaurant sold 600 Ocean Delights at a price of $6.45. During the next 30-day period,
GREYUIT [131]

Answer:

-4.3; inelastic

Explanation:

Initial price = $6.45

Initial quantity demanded = 600

New price = $6.95

New quantity demanded = 400

Percentage change in Quantity demanded:

= (Change in quantity demanded ÷ Initial quantity demanded) × 100

= [(400 - 600) ÷ 600] × 100

= (-200 ÷ 600) × 100

= 0.3333 × 100

= -33.33%

Percentage change in price:

= (Change in price ÷ Initial price) × 100

= [($6.95 - $6.45) ÷ $6.45] × 100

= ($0.5 ÷ $6.45) × 100

= 0.0775 × 100

= 7.75%

Therefore, the price elasticity of demand is as follows:

= Percentage change in quantity demanded ÷ Percentage change in price

= -33.33 ÷ 7.75

= -4.3

Hence, the price elasticity of demand is inelastic.

8 0
2 years ago
The inventory system whereby the merchandise inventory account balance is merely a record of the most recent physical inventory
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The inventory system whereby the merchandise inventory account balance is merely a record of the most recent physical inventory count is called the periodic system. The periodic inventory system is a<span> method of accounting for merchandise inventory in which the cost of the inventory sold is determined only at the end of an accounting period.</span>
<span>The updates in this system are made on a </span>periodic<span> basis. </span>
5 0
2 years ago
Piper owns a vacation cabin in the Tennessee mountains. Without consider-ing the cabin, she has gross income of $65,000. During
zloy xaker [14]

Answer and Explanation:

a)  rent income from sarah's vacation house will not affect her AGI, because according to rules if vacation house is used fewer than 15 days, in that case it is treated as a personal house and its expenses and income have not effect on the AGI. only the mortgage interest and property yax will be deducted from AGI.

b) only the mortgage interest and property yax will be deducted from AGI. other expenses are non-deductible from AGI because these are treated as personal expenses.

7 0
2 years ago
Rolf Steps is the production manager for a local manufacturing firm. This company produces staplers and other items. The annual
Mumz [18]

Answer:

His maximum inventory level would be 180 units

Explanation:

According to the given data we have the following:

daily demand rate , d=1,600/200=8 units;

daily production rate p=80 units;

C0=25 dollar

Cc=2 dollar

Therefore, Qopt=√2*25*1,600/(2(1-8/80))

Qopt=210.82

But here Rolf decide to produce 200 units each time he started production, hence fix Q=200

Therefore, Maximum inventory level=200*(1-8/80)=200*0.9

Maximum inventory level=180 units

His maximum inventory level would be 180 units

8 0
2 years ago
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A. Yes, because the corporation would be required to pay tax on its profits, and the shareholders would also be required to pay taxes on dividends

4 0
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