« previous next »

Author Question: The cost of overestimating demand is usually harder to determine than the cost of underestimating ... (Read 163 times)

theo

  • Hero Member
  • *****
  • Posts: 698
on: Jun 24, 2018
The cost of overestimating demand is usually harder to determine than the cost of underestimating demand.
  Indicate whether the statement is true or false

Question 2

A manufacturer of microwave ovens wants to know what percentage of all of their microwave ovens are defective. When 450 of their microwave ovens are selected at random and examined, 0.4 are found to be defective.
 a. Describe the population of interest.
  b. Describe the sample.
  c. Describe/find the parameter.
  d. Describe/find the statistic.
  e. Is the 0.4 a parameter or a statistic in this scenario? Why?


macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 24, 2018
Answer to Question 1

F

Answer to Question 2

a. All microwave ovens made by this manufacturer.
b. The 450 microwave ovens selected at random.
c. The proportion of all microwave ovens made by this manufacturer that are defective.
d. The proportion of the microwave ovens from the random sample that are defective: 0.4.
e. The 0.4 represents the statistic, since it describes the sample.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

theo

  • Hero Member
  • *****
  • Posts: 698
Reply #2 on: Jun 24, 2018
Thank you :)


macagn

  • Sr. Member
  • ****
  • Posts: 345
Reply #3 on: Jun 24, 2018
Happy to help you


« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

How genes produce proteins that determine traits in a simple dominant-recessive relationship. How genes produce proteins that determine traits in a simple dominant-recessive relationship.
Use a compound angle addition formula to determine an equivalent trig expression for cos(x + ... Use a compound angle addition formula to determine an equivalent trig expression for cos(x + ...
An old set of christmas tree lights have 30 lights, 20.6~ each in a series alignment. Determine ... An old set of christmas tree lights have 30 lights, 20.6~ each in a series alignment. Determine ...
The system moves at 1.50 2 m/s while the inclined planes are rough. a) Determine the ... The system moves at 1.50 2 m/s while the inclined planes are rough. a) Determine the ...
The system moves at 1.50 2 m/s while the inclined planes are rough. a) Determine the ... The system moves at 1.50 2 m/s while the inclined planes are rough. a) Determine the ...
A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her A cowbird with its foster parent. A female cowbird minimizes her cost of parental care by laying her
Video: Proteins

For a complete list of videos, visit our video library