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mixas84 [53]
3 years ago
12

2. One important factor in inventory control is the variance of the daily demand for a product. Management believes that demand

is normally distributed with the variance equal to 250. In an experiment to test this belief about , the daily demand was recorded for 25 days. The data has been summarized as follows: xbar = 50.6 and s2 = 500 Do the data provide sufficient evidence to show that management's belief about the variance is untrue? (Use alpa=0.01 ).
Mathematics
1 answer:
salantis [7]3 years ago
4 0

Answer:

we reject H0 and conclude that management's belief about variance is untrue.

Step-by-step explanation:

H0 : σ² = 250

H1 : σ² ≠ 250

Sample size, n = 25

xbar = 50.6 ; s² = 500

α = 0.01 ;

The test statistic :

χ² = [(n - 1)s²] ÷ σ²

χ² = [(25 - 1)* 500] ÷ 250

χ² = (24 * 500) / 250

χ² = 12000 / 250

χ² = 48

The critical value:

df = n-1 ; 25 - 1 = 24

χ²(0.01/2 ; 24) = 45.559

Decison :

Reject H0 : if |χ² statistic| > critical value

Since 48 > 45.559

Hemce, we reject H0 and conclude that management's belief about variance is untrue.

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Answer:

The rent of 1 chair is $1.5 and rent for 1 table is $8.25.

Explanation:

Given:

A party rental company has chairs and tables for rent.  

Let the rent for a single chair be $m and rent for single table be $n.  

The total cost to rent 8 chairs and 4 tables is $ 45 .  

Then, 8 x $m + 4 x $n = $45  8m + 4n = 45  (1)

The total cost to rent 3 chairs and 2 tables is $ 21.

Then, 3 x $m + 2 x $n = $ 21  3m + 2n = 21  (2)  

To find:

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Solution:

let us solve the above two equations.

Equation(1) x 1 ...........  8m + 4n = 45

Equation(2) x 2..........  6m + 4n = 42 [we multiplied with 2 because, then, coefficient of n equals and easy to cancel

8m + 4n = 45

6m + 4n = 42

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Then, substitute m = 1.5 in (1)

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Dennis_Churaev [7]

Answer:

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Answer:

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