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Afina-wow [57]
2 years ago
5

The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal,

March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 50 persons who had been involved in car crashes and that the population standard deviation is σ = $600. What is the margin of error for a 95% confidence interval? Round your answer to two decimal places.
Business
1 answer:
Zepler [3.9K]2 years ago
8 0

Answer:

Error = 166.308459

Explanation:

Given that,

Standard deviation (SD) = $600

Sample (n) = 50 persons

Error(E) = ?

For a 95% confidence interval,

Z-value from the z-table is 1.959963985

E=\frac{z\times SD}{\sqrt{n}}

E=\frac{1.959963985\times 600}{\sqrt{50}}

E=\frac{1,175.97839}{7.07106781}

         = 166.308459

Therefore, the margin of error for a 95% confidence interval is 166.308459.

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Which of the following, if true, would most weaken the argument that Fony Corp. should upgrade its technology?A) Employees fear
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Explanation: the company would be able to recover the cost of adoption of the new technology . This strengthens the argument that the upgrade should take place.

The new technology would improve cost of production and efficiency. This strengthens the argument that the upgrade takes place.

Because the upgrade hasn't been successfully tested, it might have an unintended negative impact which would erode all the benefits of the upgrade

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3 years ago
An example of a start-up cost is _____.
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Paying a graphic designer to create a logo.
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3 years ago
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Which of the following would be considered a DISADVANTAGE of the use of above-market compensation? A. It may encourage voluntary
-BARSIC- [3]

Answer:

E. It may encourage a sense of entitlement among employees.

Explanation:

Above the market, compensation in the form of wage strategy in which the organizations initiates high salaries to the employees. High salaries are provided to the employees to attract them and to retain them in the team. This is done to maintain the caliber of the group and for the smooth flow among the team members.

4 0
3 years ago
An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labour to produce its total output of 640 u
mart [117]

Answer:

Explanation:

1. To find the cost per unit of production, first we find the total cost. So we multiply the unit of each factor used times its cost.

capital: 2*$10=$20

raw materials: 5*$4=$20

labour: 8*$3=$24

Total cost: $20+$20+$24=$64

Then we divide the total cost over the total units produced:

Cost per unit: $64/640=$0,1 Answer is B

2. If the cost per unit of raw materials increases from $4 to 8$. Then the total cost of production will be:

capital: 2*$10=$20

raw materials: 5*$8=$40

labour: 8*$3=$24

Total cost: $20+$40+$24=$84

To find how much the cost per unit will rise, to find how much it rises

64$→100%

$84←x

x=($84*100%)/$64=131.2%

131.2%-100=31.2%. The answer is B

3. Because there is a change in raw materials, then there would be changes in the supply demand.  In this case, the total cost and the cost per unit increased, then it is a negative shock to the supply demand. This is represented as a shift to the left. The answer is D

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3 years ago
A data type is called ____________________ if the variable or named constant of that type can store only one value at a time.
masya89 [10]

Answer:

Simple

Explanation:

The arrangement of data in a file or data base where in each and every data grouping, like record, holds equal significance or are of equal importance.

Simple data types are those data types which is representative of a single value. These are used for the creation of policies

Thus a data type is referred to as simple data type wherein a constant (named) constant or any variable the same type is capable of storing only a single value at an instant of time.

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2 years ago
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