1. A company is contemplating the introduction of a new product with new packing toreplace the existing product at much higher Price (P) or a moderate change in the composition of theexisting product with a new packaging at a small increase in price (P2) or a small change in thecomposition of the existing product except the word "new" with a very small increase in price (P3). Thethree possible states of nature are : (i) high increase in sales (n), (ii) no change in sales (n), and(iii) decrease in sales (na). The marketing department of the company calculated the payoffs in terms ofyearly net profits from each of the strategies (expected sales). This is represented in the following table :StrategiesStates of Nature30001500PIP2P3700050003000450030003000Which strategy should the concerned executive choose on the basis of:(i) Maximin criterion,(ii) Laplace criterion ?

Answered: Image /qna-images/answer/e74b2433-6ad4-4197-97a9-ea115aa858fb.jpg

Answered: 1. A company is contemplating the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Statistics students believe that the mean score on a first statistics test is 65. The instructor thinks that the mean score is higher. She samples 10 statistics students and obtains the scores: Grades 69 69 63.9 68.4 62.7 73.5 73.5 64.3 Test grades are believed to be normally distributed. Use a significance level of 5%. A. State the alternative hypothesis: HA: Ομ 65 B. State the mean of the sample: C. State the standard error of the sample means: D. State the test statistic: t = E. State the p-value: F. Decision: O Fail to reject the null hypothesis. Reject the null hypothesis. 73.5 96
QUESTION 3: Mr. Daily moves to a new province and has the option to either use prepaid electricity or metered electricity. He requests a comprehensive summary of the costs per kWh of electricity consumed and decides to analyse the information received. He summarizes it in the table below. Use the information to provide answers to Mr. Daily's questions below. Metered electricity A service fee of R115.20 per month is charged for metered electricity (VAT excluded). Electricity is charged at RO.80 per kWh. Prepaid electricity No service fee is charged for prepaid electricity. Electricity is charged at R1.20 per kWh. The first 100 units are free. Cost ( Prepaid elec) Cost ( Metered elec) = R115.20 + R0.80 × (number of units used – free units) —D R1.20 x питber of units used
27. An enquiry into the budgetk of the middle class families in Mumbai gave the following information : Fuel 10% Misc. 20%· Еxpenditure Price (2002) Rs. Price (2003) Rs. Food 35% Rent 15% Clothing 20% 100 20 60 150 50 174 60 125 25 90 The cost of living index in 2003 is : (A) 116.10 (В) 126.10 (C) 136.10 (D) 146.10.
27. The average number of cavities that 30-year-old Americans have had in their lifetimes is 7.0. The standard deviation 2.7 cavities. Is the mean different for 20-year-olds? The data show the results of a survey of 15 twenty-year-olds who were asked how many cavities they have had. Assume that that distribution of the population is normal. 6, 7, 5, 3, 7, 8, 4, 6, 5, 6, 4, 6, 7, 6, 9 What can be concluded at the 0.05 level of significance? H0: = 7 Ha: [ Select ] ["<", ">", "Not Equal To"] 7 Test statistic: [ Select ] ["Z", "T"] p-Value = [ Select ] ["0.13", "0.26", "0.03", "0.06"] [ Select ] ["Fail to Reject Ho", "Reject Ho"] Conclusion: There is [ Select ] ["statistically…
State the type of variable in each of the following cases 1- 5.1. The weight (Kg) of an Amazon package.2. The stress level (Low, Average, High) of a student taking this exam.3. The number of Long Covid-19 patients in England in 2021.4. Type of vaccine (Pfizer, AstraZeneca, Moderna).5. The annual profits (£m) of the JSA company in 2021.Your answer should be A, or B or C or D, where A, B, C, and D are defined asfollows:A. Numerical and DiscreteB. Numerical and ContinuousC. Categorical and NominalD. Categorical and Ordinal
42. In a working class budget enquiry in towns A and B, it was found in 2014 that an average working class family's expenditure on food and other items was as follows : Town A Town B 50% 50% () Food (i) Other items In 2017, the consumer price index stood at 279 for town A, 265 for town B (Base year 2014 = 100). It was known that the rise in the prices of all articles consumed by the working class was the same for A and B. What was the 2017 index for (a) food, and (b) other items ? 64% 36%
A. Identify the Level of Measurement for each of the following variables 1. Price of raw materials 2. Aperson's occupation 3. Advertising costs 4. Length of time before a device fails 5. "Star" rating of hotels. 6. Product satisfaction as "Very Unsatisfied, Fairly unsatisfied, until Very satisfied" 7. Types of investments (Stocks, Bonds, others) 8. Standardized exam score (eg. Board exam score) 9. Time (in minutes) it takes students to complete a statistics test 10. Time to execute a command in a computer program B. Identify if the quantity reported is a Parameter or a Statistic 1. Inastudy of Filipino Airlines flights from Japan tothe Philippines, 68 flights are randomly selected and the average (mean) arrival time is 9.2 minutes late. 2. A sample of 120 employees of a company is selected, and the average age is found to be 37 years. 3. Ina study of 320 babies born at four different hospitals in Baguio, it was found that the average weight at birth was 3.175 kgs. 4. Afterinterviewing…

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