« previous next »

Author Question: The cost of overestimating demand is usually harder to determine than the cost of underestimating ... (Read 147 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?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
A company that makes cell phones has the following cost structure. They have fixed costs of ... A company that makes cell phones has the following cost structure. They have fixed costs of ...
Use of synthetic mRNAs to determine genetic code possibilities Use of synthetic mRNAs to determine genetic code possibilities
Video: Dendrite Animation

For a complete list of videos, visit our video library