Using time and materials pricing, what is the total price for a job requiring 3 direct labor hours and $57 of materials?

You are interested in purchasing a new car and have done some research. One of the many points you wish to consider is the resal

kari74 [83]

Answer:

The 99% confidence interval would be given by (12004.26;12995.74)

Explanation:

1) Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

$\bar X=12500$ represent the sample mean for the sample

$\mu$ population mean (variable of interest)

s=700 represent the sample standard deviation

n=17 represent the sample size

2) Confidence interval

The confidence interval for the mean is given by the following formula:

$\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}$ (1)

In order to calculate the critical value $t_{\alpha/2}$ we need to find first the degrees of freedom, given by:

$df=n-1=17-1=16$

Since the Confidence is 0.99 or 99%, the value of $\alpha=0.01$ and $\alpha/2 =0.005$ , and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-T.INV(0.005,16)".And we see that $t_{\alpha/2}=2.92$

Now we have everything in order to replace into formula (1):

$12500-2.92\frac{700}{\sqrt{17}}=12004.26$

$12500+2.92\frac{700}{\sqrt{17}}=12995.74$

So on this case the 99% confidence interval would be given by (12004.26;12995.74)

8 0

3 years ago

Which of the following statements is not true concerning Peter Jackson's use of computer-generated imagery in The Lord of the Ri

Sonbull [250]

Answer:

c

Explanation:

I believe its C due to the fact. stunt doubles are actual individuals. or they would just have the actor be edited instead of placing a digital stunt double.

6 0

3 years ago

A customer asks you a question, but you do not know the answer. You feel that they expect you to know the answer. What would you

ZanzabumX [31]

When you don't know a certain answer to a customer question be honest and tell them that you don't know the answer to this question however you will ask from your colleague about this question and will revert back to the customer.

<h3>What is a customer?</h3>

A customer is a person who is a buyer or a potential buyer of your products and or services.

The customer should be communicated of the estimated time that will be taken to revert back with the correct answer to the question. It is highly recommended that no guesses are made when you don't know a certain answer.

Learn more about Customer at brainly.com/question/27197965

#SPJ1

6 0

2 years ago

Judy has realized that she does not like working for others. She wants to open a business i n which she will have maximum contro

qwelly [4]

Answer:

<em>Sole proprietorship</em>

Explanation:

Judy has realized that she does not like working for others . She wants to open a business in which she will have maximum control and the least fro, government regulations . <u>Sole proprietorship</u> is best suited for Judy's needs.

<em>Sole proprietorship is the form of business in which a single person is responsible for all the decisions , that single person have full control over the business . </em>

Sole proprietorship is the form of business which is easy to form with no legal formalities. There is a secrecy in Sole proprietorship . In Sole proprietorship the interference of the government is minimum .Sole proprietorship facilitate quick decision making as he /she does not need to concern with others. In the sole proprietorship , the individual need not share his profit with other person . The overhead cost in Sole proprietorship is less.

In you need not to work under anyone, you just need to open it and run according to you , you have full control over it , as no one can say anything to you .

3 0

4 years ago

Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________

Hatshy [7]

This is perceived value, making the check ups free increases the value.

5 0

3 years ago