Answer:
D
Step-by-step explanation:
Factors B, C and E are totally irrelevant.
Answer:
B
Step-by-step explanation:
Given:
The revenue function is
The cost function is
To find:
The profit function.
Solution:
We know that, the total profit P is defined as total revenue R minus total cost C.
So, the profit function is
Therefore, the profit function is .
Answer:
A. D
B. χ2 > 3.841
C. χ2 = 3.4806
D. 0.0621
Step-by-step explanation:
Question A: The hypotheses the dean should use are:
a) H0 : π1 - π2 ≥ 0 versus H1 : π1 - π2 < 0.
b) H0 : π1 - π2 ≤ 0 versus H1 : π1 - π2 > 0.
c) H0 : π1 - π2 ≠ 0 versus H1 : π1 - π2 = 0.
d) H0 : π1 - π2 = 0 versus H1 : π1 - π2 ≠ 0.
Answer: (d)
H0 : π1 - π2 = 0 versus H1 : π1 - π2 ≠ 0.
(B). Referring to the scenario above, the null hypothesis will be rejected if the test statistic is ________.
Answer: χ2 > 3.841
(C). Referring to the scenario above, the value of the test statistic is ________.
Answer: χ2 = 3.4806 (using the formula)
(D). Referring to the scenario above, the p-value of the test is ________.
Answer: 0.0621 (the answer could be looked up, in table)
