« previous next »

Author Question: The Fitness Shop is considering ordering a special model exercise machine. Each unit will cost the ... (Read 95 times)

BRWH

  • Hero Member
  • *****
  • Posts: 553
on: Jun 24, 2018
The Fitness Shop is considering ordering a special model exercise machine. Each unit will cost the shop 410 and it will sell for 750 . Any units not sold at the regular price will be sold at the year-end model clearance for 340 . Assume that demand follows a normal probability distribution with  = 20 and  = 6 . What is the recommended order quantity?

Question 2

In a binomial experiment the probability of success is 0.06 . What is the probability of two successes in seven trials?
 a. 0.0036
   b. 0.06
  c. 0.0554
   d. 0.28


tdewitt

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 24, 2018
Answer to Question 1

cu = 340, co = 70
P(demand  Q) = .8293
Q = 20 + .95(6) = 25.7 so order 26

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Thyroid conditions may make getting pregnant impossible.

computer model of the AIDS virus computer model of the AIDS virus
Axon terminal model Axon terminal model
Transactional model of cancer Transactional model of cancer
Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on Meta-analysis of 18 studies shows that aerobic exercise causes better performance in older adults on
Sample Exercise Prescription for Weight Training: Intermediate Sample Exercise Prescription for Weight Training: Intermediate
Carbohydrate loading involves tapering exercise Carbohydrate loading involves tapering exercise
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library