A 99% confidence level means that 95% of the intervals would include the parameter.
<u>Explanation:</u>
In statistics, a confidence level is one of the types of estimate that has been calculated from the statistics of the observed data. This shows and calculates a range of the values which are possible for an unknown parameter.
The interval has an associated confidence level with it that the true parameter is in the proposed range of the values which are possible for an unknown parameter. A 99% confidence interval will be wider than a 95% confidence interval because to be more confident that the true population value falls within the interval we will need to allow more potential values within the interval.
Answer: The Evaluation of product performance
Explanation: According to the question Regan an organization owner wants to build a lasting relationship with his customers.
For this to be accomplished he needs to pay close attention to the report or feedback gotten from the consumers of his product to enable him know what's on the heart of his product's consumers.
Answer: I dont know how to solve it i'm sorry -_-
Explanation:
The correct answer is D) a narrow perspective.
Kenneth, the plant manager, was talking with another manager about Brendan, the lead engineer in the corporate R & D department. Kenneth remarked, "Brendan is so bright, and he is an expert in designing products. But like so many experts, he can’t imagine what it’s like to be as ignorant as the rest of us. I think at times, he cannot see things from an outsider’s perspective."
Brendan is suffering from a narrow perspective.
The narrow perspective means that an individual is so focused on their own things, that forgets the general picture of things and that the fact that other people can have a different view and opinion about a certain topic. That is why Kenneth, the plan manager, thinks about Brendan. So brilliant but he is not considered enough of the other people's limitations on the subject or other peoplés perspectives.
Answer:
price equals average total cost.
Explanation:
Normal profit exists basically when economic profit = $0. Economic profit is not the same as accounting profit. Accounting profit just considers revenues - actual expenses. While economic profits considers accounting profit - implicit or opportunity costs. Opportunity costs are the extra costs or benefits lost from choosing one activity or investment over another alternative.
A company will maximize its accounting profits when economic profit = $0. This will happen when marginal revenue = marginal costs. All companies should try to sell at this level of output and price, but since the monopoly is being regulated, the price will probably be set considering total costs, not marginal costs.
In the attached graph you can find the point that maximizes profit at (Q,P), but the marginal cost then increases more than total costs. That is why regulators will probably use the average total cost as reference for setting the output for a monopoly.
