Which of the following statements is false concerning the use of ABC in service industries?
1 answer:
You might be interested in
a) Null hypothesis () for merrill lynch customers are given as
Alternative hypothesis:
t = 1.992
<h3>What is null hypothesis?</h3>- Conjectures used in statistical tests, which are formal techniques for drawing conclusions or making judgments based on data, include the null hypothesis and the alternative hypothesis.
- The hypotheses, which are based on a sample of the population, are suppositions regarding a statistical model of the population. The tests are essential components of statistical inference and are frequently used to distinguish between statistical noise and scientific claims when interpreting experimental data in science.
- The null hypothesis, which is the statement being tested in a test of statistical significance, is typically a declaration of "no effect" or "no difference," and the test of significance is intended to evaluate the strength of the evidence against it
Know more about Null hypothesis
#SPJ4
Answer:
See explanation below.
Explanation:
Let X the random variable that represent the demand for the magazine, the pmf for X is given by:
X 1 2 3 4 5 6
P(X) 1/15 2/15 3/15 4/15 3/15 2/15
3 magazines
For this case the total spent is 2*3 = $ 6
And the net revenue for this case would be:
$4-$6 = -$2 , X=1 (demand 1)
$4*2-$6 = $2 , X=2 (demand 2)
$4*3-$6 = $6 , X=3 (demand 3)
For the values of X=4,5,6 the net revenue will be $6 since the number of magazines is 3
And the expected value for the net revenue would be:
4 magazines
For this case the total spent is 2*4 = $ 8
And the net revenue for this case would be:
$4-$8 = -$4 , X=1 (demand 1)
$4*2-$8 = $0 , X=2 (demand 2)
$4*3-$8 = $4 , X=3 (demand 3)
$4*4-$8 = $8 , X=4 (demand 4)
For the values of X=5,6 the net revenue will be $8 since the number of magazines is 4
And the expected value for the net revenue would be:
As as we can see we have a higher expected value for the case with 4 magazines.