In a study collecting data about the repair costs of damage to broadcasting equipment in a certain type of malfunctioning tests, a certain model of the equipment had Ksh 1700 in damage and was in the 90th percentile. Should the manufacturer and/or a consumer be pleased or upset by this result? Explain. Write a sentence that interprets the 90th percentile in the context of this problem.
In a study collecting data about the repair costs of damage to broadcasting equipment in a certain type of malfunctioning tests, a certain model of the equipment had Ksh 1700 in damage and was in the 90th percentile. Should the manufacturer and/or a consumer be pleased or upset by this result? Explain. Write a sentence that interprets the 90th percentile in the context of this problem.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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In a study collecting data about the repair costs of damage to broadcasting equipment in a certain type of malfunctioning tests, a certain model of the equipment had Ksh 1700 in damage and was in the 90th percentile. Should the manufacturer and/or a consumer be pleased or upset by this result? Explain. Write a sentence that interprets the 90th percentile in the context of this problem.
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