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nekit [7.7K]
3 years ago
9

A survey of 50 retail stores revealed that the average price of a microwave was $375 with a sample standard deviation of $20. As

suming the population is normally distributed, what is the 99% confidence interval to estimate the true cost of the microwave?
a. $367.42 to $382.58
b. $315.00 to $415.00
c. $323.40 to $426.60
d. $335.82 to $414.28
Business
1 answer:
ohaa [14]3 years ago
6 0

Answer:

True cost of the microwave is in 99% confidence interval: c. $323.40 to $426.60

Explanation:

Relevant data:

n=50\\\mu=375\\\sigma=20\\\alpha=0,001

As we want to know the 99% confidence interval, the significance level is:

(1-\alpha).100\%=99\%\\1-\alpha=0.99\\\alpha=0.01

We need to estimate a confidence interval by a two tailed normal bell. Then we have:

Z_{\alpha/2}=Z_{0.005}

The z-value for a probability of 0.005 in a normal standard distribution is 2.576

Confidence interval is given by;:

\=x\±Z_{\alpha/2}\sigma\\375\±Z_{\0.005}(20)\\375\±(2.58)(20)\\375\±51.60

375+51.60=426.60\\375-51.60=323.40

True cost of the microwave is in 99% confidence interval: c. $323.40 to $426.60

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Which of the following is true of budgeting? Question 1 options: Budgeting forces management to plan for the future. Budgeting c
coldgirl [10]

Answer:

correct option is Budgeting forces management to plan for the future.

Explanation:

The budget depends on the control cycle to design the planning cycle for future action. Because budget is the only way to compare reality in determining performance evaluation, but budget is not in the nose of planning the future                                                          

so correct option is Budgeting forces management to plan for the future.

3 0
3 years ago
The nielsen company provides ratings for the tv industry. ratings are calculated from what sources? (multiple correct answers -
alexandr1967 [171]

The Nielsen company provides ratings for the TV industry. Ratings are calculated from following sources:

  • Streaming within seven days of the broadcast date.
  • Watching live TV
  • Viewing on a delayed DVR within seven days of the original air date.
  • Viewer Diaries Residences with TVs equipped with Nielsen Meters.
<h3>What is DVR?</h3>
  • Analog video is transformed into digital format by a DVR.
  • Networks are increasingly more interested in ratings over a time period than just the date and time the show aired because of the time-shifting nature of DVRs.
  • DVR systems process data at the recorder.
  • The majority of networks track ratings using Nielsen's Live Plus service.
  • Live Plus examines who viewed particular programs on their DVRs across various time periods.

Learn more about DVR here:

brainly.com/question/2681596

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3 0
1 year ago
Consider the market for a breakfast cereal. The​ cereal's price is initially ​$3.003.00 and 7070 thousand boxes are demanded per
arlik [135]

Answer:

0.539

Explanation:

Price elasticity of demand measure the responsiveness of demand against the change in price of the product. It shows how much demand changes if there is the change in price.

Under mid-point method the price elasticity can be calculated as follow

where

S = Quantity

P = Price

Change in Quantity = ( S2 - S1 ) / [ ( S2 + S1 )/2 ]

Change in Quantity = ( 6,060 - 7,070 ) / [ ( 6,060 + 7,070 )/2 ]

Change in Quantity = -1,010 / 6,565

Change in Quantity = -0.153846

Change in price = ( P2 - P1 ) / [ ( P2 + P1 )/2 ]

Change in price = ( $4,004 - $3,003 ) / [ ( $4,004 + $3,003 )/2 ]

Change in price  = $1,001 / $3,503.5

Change in price  = 0.285714

Elasticity of Supply = Change in Quantity / Change in Price

Elasticity of Supply = -0.153846 / 0.285714 = -0.5385

Elasticity of Supply = -0.539

3 0
2 years ago
Adirondak Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rat
tamaranim1 [39]

Answer:

Predetermined manufacturing overhead rate= $14.77 per direct labor hour

Explanation:

Giving the following information:

Estimated overhead cost for the period= $325,000

Estimated total direct labor hours for the period= 22,000

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 325,000 / 22,000

Predetermined manufacturing overhead rate= $14.77 per direct labor hour

8 0
3 years ago
What type of stores rely on their large size and very deep selection to try to dominate the market?
andrew-mc [135]
Power retailers are the stores that rely on their large size and very deep selection to try to dominate the market. 
Specialty stores are small, so you can eliminate that option immediately. Department stores are usually found within another store, so that's not correct too. Discounters don't have a very deep selection, they usually sell a lot of various things. Anchor stores are found within malls, so that's incorrect too. 
8 0
3 years ago
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