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- The life of button batteries is normally distributed with a mean of 68.1 hours and a standard deviation of 18 hours 936 of the button batteries will last more than how many hours? (2 decimal places)A major credit card company has determined that the amount its customers charge on their accounts is normally distributed with an average of R2800 per month and a standard deviation of R200.What proportion of customers charge more than R2750 per month on their account (rounded off to three decimals)?Probability Possible Rate of Return 0.25 -0.10 0.15 0.00 0.35 0.10 0.25 0.25 a. Under what conditions can the standard deviation be used to measure the relative risk of two investments? b. Under what conditions must the coefficient of variation (CoVar) be used to measure the relative risk of two investments?
- A school teacher is worried that the concentration of dangerous, cancer-causing radon gas in her classroom is greater than the safe level of 4pCi/L. The school samples the air for 36 days and finds an average concentration of 4.4pCi/L with a standard deviation of 1pCi/L what is / are the critical values if they use the 5% level of significanve. -2.030 and 2.030 -1.96 and 1.96 1.690 -1.690They need to be probabilities and there should be six answer 1-a-b etcGeoMart sells travelers notebooks. Annual demand for these notebooks follows a Normal distribution with an average of 2,100 units and a standard deviation of 850. GeoMart buys these notebooks from its manufacturer for $ 1.50 per notebook and sells them for $ 3. There is an order waiting period of 5 weeks, which elapses from when an order is placed to the manufacturer until it is delivered to GeoMart. The accounting department estimated that the process of placing an order costs $ 2 and recommends that it be apply a 22 percent annual interest to the material for reasons of ‘holding cost’. The cost of not complying with the demand is estimated at 40 cents per unit, in addition to the loss of income (‘profit loss’), both then represent the cost of “loss of good faith” or 'Loss-of-goodwill'. (Conversion: 7 days a week, 52 weeks in a year.) Under this scenario answer the following: a) Assume that you want to minimize costs and determine: the optimal order size, the reorder point, the…
- Please no written by hand solution Kate recently invested in real estate with the intention of selling the property one year from today. She has modeled the returns on that investment based on three economic scenarios. She believes that if the economy stays healthy, then her investment will generate a 30 percent return. However, if the economy softens, as predicted, the return will be 10 percent, while the return will be -25 percent if the economy slips into a recession. If the probabilities of the healthy, soft, and recessionary states are 0.6, 0.2, and 0.2, respectively, then what are the expected return and the standard deviation of the return on Kate❝s investment? Calculate the coefficient of variation for this investment. (Round expected return to 3 decimal places, e.g. 0.125 and round intermediate calculations and standard deviation to 5 decimal places, e.g. 0.07680.)DO NOT USE LAGRANGIANThe state of California has a mean annual rainfall of 22 inches, whereas the state ofNew York has a mean annual rainfall of 42 inches (Current Results website, October 27,2012). Assume that the standard deviation for both states is 4 inches. A sample of 30 yearsof rainfall for California and a sample of 45 years of rainfall for New York has been taken.a. Show the probability distribution of the sample mean annual rainfall for California
- Suppose commute times in a large city are normally distributed and that 65.20% of commuters in this city take more than 22 minutes to commute one-way. If the standard deviation of such commutes is 6.5 minutes, what is the mean commute?Times for a surgical procedure are normally distributed. There are two methods.Method A has a mean of 28 minutes and a standard deviation of 6 minutes, whilemethod B has a mean of 32 minutes and a standard deviation of 4 minutes. (a)Which procedure is preferred if the procedure must be completed within 28minutes? (b) Thirty-eight minutes? (c) Thirty-six minutes? Explain your reasoningfully.A product has a mean demand of 50 with a standard deviation of 4. If the retailer wants to maintain a 90% customer service, how many units will they need to keep in stock?