« previous next »

Author Question: The cost of overestimating demand is usually harder to determine than the cost of underestimating ... (Read 159 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?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Using Parallax to Determine Distance Using Parallax to Determine Distance
Characteristics of the individual determine (a) whether they will be exposed to certain stressors ... Characteristics of the individual determine (a) whether they will be exposed to certain stressors ...
Calculation of body mass index. To determine your BMI, find the value for your height on the left ... Calculation of body mass index. To determine your BMI, find the value for your height on the left ...
Cost of Laptops Cost of Laptops
Determine if each function is continuous, If the function is not continuous, find the x-axis Determine if each function is continuous, If the function is not continuous, find the x-axis
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library