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yulyashka [42]
3 years ago
15

Suppose an inventor is interested in the proportion of local consumers who would be interested in purchasing her new product. If

she samples local residents at random and tests hypotheses regarding p, the population proportion, what should she do to reduce her risk of making a Type II error?
a. Increase the number of local consumers she will sample

b. Decrease the number of local consumers she will sample

c. Make sure her sample of local consumers is exactly 10

d. Decrease the significance level
Business
1 answer:
olga_2 [115]3 years ago
3 0

Answer:

The answer is option A) To reduce her risk of making a Type II error, she should Increase the number of local consumers she will sample

Explanation:

A type II error is sometimes called a beta error because it confirms an idea that should have been rejected, claiming the two observances are the same, even though they are different. A type II error is essentially a false positive.

A type II error can be reduced by making more stringent criteria for rejecting a null hypothesis such as:

  • Increasing the the sample size used in the Test: this is a strategy used to increase the power of the test and reduce the error to a considerable amount.
  • Increasing the significance level: choosing a higher level of significance is important for double checking and which increases accuracy.
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Answer:

The collection is worth $37,525.78.

Explanation:

Giving the following information:

Your coin collection contains 59 1952 silver dollars.

Interest rate= 6.6%

Number of years= 2053 - 1952= 101 years

To calculate the value of the collection today, we need to use the following formula:

FV= PV*(1+i)^n

FV= 59*(1.066^101)

FV= $37,525.78

7 0
3 years ago
Choose the correct description of variable and fixed costs. A. A variable cost is related to a particular cost object and can be
Pachacha [2.7K]

Answer:

B.

Explanation:

Fixed costs are those costs which are not output dependent. Are fixed till certain level of output. The fixed cost per unit changes with output.

Variable costs are those costs which are output dependent. There is a positive correlation between the production output and the variable cost. The variable cost per unit remains constant.

With the classification of cost into fixed and variable, the manager can count the break even point, in amount terms as well as in the number of unit terms.

The ratio between the variable cost and fixed cost shows how much adjustable is the organization.

6 0
3 years ago
At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $3,510,000. After the timber is cl
V125BC [204]

Answer:

A. $279,000

B. $27,900

Explanation:

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2021 Depletion=0.45x 620,000

2021 Depletion= $279,000

Therefore 2021 depletion of the timber tract is $279,000

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Depreciation= $27,900

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Answer:

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I hope my answer helps you

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