« previous next »

Author Question: The cost of overestimating demand is usually harder to determine than the cost of underestimating ... (Read 161 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?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

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

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

How to determine the interquartile range How to determine the interquartile range
The growth in demand for energy use is met by burning fossil fuels The growth in demand for energy use is met by burning fossil fuels
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
Algebraically determine the x intercept of the exponential function Algebraically determine the x intercept of the exponential function
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 ...
Video: Humerus Adduction Animation

For a complete list of videos, visit our video library