1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Gather secondary data by reading what others have experienced and observed. You should begin nearly every research project by re
liraira [26]

Answer:

An Index is used to identify references, key words or paragraphs, abstracts so also articles from different sources.

6 0
2 years ago
Which of the following things can you do to improve your credit score?
Art [367]
Use your credit card and pay it off each month
6 0
3 years ago
Read 2 more answers
1. One of the major changes resulting from managed care is the requirement of providers to assume accountability for: A. The tre
11111nata11111 [884]

Answer:

The correct answer is B) The appropriateness of interventions

Explanation:

Managed care is evolving in many countries around the world.

One of the ways in which changes are becoming more prevalent is in the managed care industry is that due to competition, that players are beginning to take seriously the quality of health care being given to enrollees.

All of this is happening simultaneously with the bid to provide these services at the lowest cost possible with providers playing for marketing share.

In Managed care, if customers are treated fairly, they are most likely to return thus creating the possibility for sustained organic growth.

Cheers!

4 0
3 years ago
Adjustments for unearned revenues: Select one: a. decrease liabilities and increase revenues. b. increase liabilities and increa
Mnenie [13.5K]

Answer:

(D) decrease revenues and decrease assets

Explanation:

Since the revenue is unearned, its entry in the books needs to be reversed.

When a revenue was recorded in the books, the like journal entry would have been.

Debit Cash/Bank/Receivables Account (thus increasing asset)

Credit Revenue Account (thus increasing revenue)

There, reversing the entry will involve decreasing revenue and decreasing asset.

8 0
3 years ago
1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted d
melamori03 [73]

Answer:

a. $17.44 per hour

b. $43,600 ; $104,640

Explanation:

The computation is shown below:

a. Single plantwide overhead rate equals to

= Total Overhead Amount ÷ Budgeted Direct Labor Hours

where,

Total overhead amount is

= $625,000 + $900,000 + $105,000 + $175,000 + $300,000 + $75,000

= $2,180,000

And, the budgeted direct labor hours is 125,000

So, the overhead rate is

= $2,180,000 ÷ 125,000

= $17.44 per hour

2. Now the overhead cost is

For Deluxe model

= 2,500 direct labor hours × $17.44 per hour

= $43,600

For basic model

= 6,000 direct labor hours × $17.44 per hour

= $104,640

7 0
3 years ago
Other questions:
  • Invested Capital Corporation provides other firms with funds to expand operations. If Invested Capital strictly complies with ex
    13·1 answer
  • When different invest Assume​ Evco, Inc. has a current stock price of $ 50.00 and will pay a $ 2.00 dividend in one​ year; its e
    15·1 answer
  • Curtis created his own restaurant equipment company, supplying the greater Denver area, five years ago. Until now, he has, never
    6·1 answer
  • A large computer manufacturer forbids its executives and managers from serving as directors or officers for Hewlett-Packard or a
    5·1 answer
  • You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your company's assets are $100
    14·1 answer
  • Prescott Corporation issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiann
    8·1 answer
  • A company purchased inventory on January 1, 20X2, for $600,000, and uses the FIFO method. On December 31, 20X2, the inventory ha
    14·1 answer
  • What two things affect the percentage of federal taxes withheld from your paycheck?
    11·1 answer
  • In the context of globalization and ethical obligations of mncs, the offshoring of highly technical jobs can also result in the
    13·1 answer
  • What quickbooks task stores information about customers, vendors, employees, services, and more?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!