Author Question: The cost of overestimating demand is usually harder to determine than the cost of underestimating ... (Read 174 times)

theo

  • Hero Member
  • *****
  • Posts: 698
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
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


 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

For a complete list of videos, visit our video library