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Korvikt [17]
4 years ago
9

The owner of touchdown sports bar wants to develop a time standard for the task of mixing a specialty cocktail. in a preliminary

study, he observed one of his bartenders perform this task seven times with an average of 90 seconds and a standard deviation of five seconds. how many observations should be made if he wants to be 95.44 percent confident that the maximum error in the observed time is one second?
Business
1 answer:
katen-ka-za [31]4 years ago
4 0
<span>100 observations needed for desired accuracy and confidence. The formula for the confidence of a sampling is: ME = z*d/sqrt(n) where ME = Margin of error z = z score for desired level of confidence d = standard deviation n = number of samples The z score desired is calculated as follows. If you want a 95% confidence, you calculate 1 - 0.95 = 0.05, then you divide the result by 2, getting 0.025, and finally you use a standard normal table to get the z score for the desired probability. So for this problem of 95.44% we get (1 - 0.9544)/2 = 0.0456/2 = 0.0228 Looking up a standard normal table, the value of 0.0228 is found to have a z-score of 2.0, a.k.a. 2 standard deviations from the normal. So let's substitute the known values into the formula and solve for n. ME = z*d/sqrt(n) 1 = 2*5/sqrt(n) sqrt(n) = 2*5 sqrt(n) = 10 n = 100 So the owner needs at least 100 samples to be 95.44% certain that his measurement error is within 1 second of the correct time.</span>
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Henri earned a salary of $50,000 in 2001 and $70,000 in 2006. The consumer price index was 177 in 2001 and 265.5 in 2006. Henri'
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Answer:

Henri's 2006 salary in 2001 dollars =$46,666.66

Explanation:

A rise in the price index implies inflation

Inflation is the increase in the general price level. Inflation erodes the value of money.  

This price index is the weighted average price of a basket of goods and services consumed by a typical consumer. It is used to measure the rate of inflation.  

So we can determine the salary in the base year value  as follows:  

2006 Salary in the base year terms=

CPI base year/CPI in the current year × salary in the current year

CPI base year- 177, CPI in the current yea- 256.5,

Salary in the current year - 70,000

Henri 2006 Salary in 2001 Dollar

=177/265.5 ×70,000/265.5 = 46,666.66

Henri's 2006 salary in 2001 dollars =$46,666.66

8 0
4 years ago
A stock has an average expected return of 10.8 percent for the next year. The beta of the stock is 1.22. The T-Bill rate is 5% a
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Answer: 4.7%

Explanation:

Expected return is calculated as:

= Risk free return + Beta ( Market risk premium)

10.8% = 5% + (1.22 × Market risk premium)

10.8% - 5% = 1.22market risk premium

5.8%/1.22 = market risk premium

Market risk premium = 0.058/1.22

Market risk premium = 0.047

Market risk premium = 4.7%

7 0
3 years ago
Long-term investments tie up money for
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A(n) 401(k) allows both employees and employers to contribute to a retirement plan.

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3 years ago
during the second stage of the ethical decision-making process, managers must determine whether a proposed decision would violat
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When a manager needs to make a decision using the ethical decision-making process and reaches the second stage, they check whether the decision violates the c. fundamental rights of any stakeholders

The ethical decision-making process involves making decisions that are consistent with the relevant ethical views of the company which it draws from the society it is based in.

The second stage of this process involves checking whether the ethics involved in a certain decision, would violate the fundamental rights of shareholders which include:

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This is to ensure that the shareholders are taken care of because the first duty of a manager is to their shareholders.

In conclusion, managers need to check whether a decision affects the fundamental rights of shareholders before they embark on it.

<em>Find out more at brainly.com/question/8864856.</em>

<em />

The options for this question include:

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