A small market orders copies of a certain magazine for its magazine rack each week. Let X = demand for the magazine, with the following pmf.11 518 18 1834562 318 18 1825P(x)salvage value, is it better to order three or four copies of the magazine? [Hint: For both three and four copies ordered,Suppose the store owner actually pays $2.00 for each copy of the magazine and the price to customers is $4.00. If magazines left at the end of the week haveexpress net revenue as a function of demand X, and then compute the expected revenue.]What is the expected profit if three magazines are ordered? (Round your answer to two decimal places.)What is the expected profit if four magazines are ordered? (Round your answer to two decimal places.)How many magazines should the store owner order?O 3 magazinesO4 magazines

Answered: Image /qna-images/answer/a6d35755-6854-403d-b262-7b51e160a531.jpg

Answered: A small market orders copies of a…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.6: Exponential And Logarithmic Equations

Problem 64E

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2. Suppose that in Example 2.27, 400 units of food A, 500 units of B, and 600 units of C are placed in the test tube each day and the data on daily food consumption by the bacteria (in units per day) are as shown in Table 2.7. How many bacteria of each strain can coexist in the test tube and consume all of the food? Table 2.7 Bacteria Strain I Bacteria Strain II Bacteria Strain III Food A 1 2 0 Food B 2 1 3 Food C 1 1 1
aIf HP=4, PJ=5, and PM=2, find LP. _ bIf HP=x+1, PJ=x1, LP=8, and PM=3, find x. _
For T:P5P3 and nullity(T)=4, find rank(T).
For T:P4R5, and rank (T)=3, find nullity (T).
A certain brand of upright freezer is available in three different rated capacities: 16ft3, 18 ft3, and 20 ft3. Let X = the rated capacity of a freezer of this brand sold at acertain store. Suppose that X has pmfx 16 18 20p(x) .2 .5 3a. Compute E(X), E(X2), and V(X).b. If the price of a freezer having capacity X is 70X – 650, what is the expectedprice paid by the next customer to buy a freezer?c. What is the variance of the price paid by the next customer?d. Suppose that although the rated capacity of a freezer is X, the actual capacityis h(X) = X - .008X2. What is the expected actual capacity of the freezer purchasedby the next custom
A small market orders copies of a certain magazine for its magazine rack each week. Let X = demand for the magazine, with pmf x 1 2 3 4 5 6 p(x) 1/5 2/15 3/15 4/15 3/15 2/15 Suppose the store owner actually pays $2.00 for each copy of the magazine and the price to customers is $4.00.If magazines left at the end of the week have no salvage value, is it better to order three or four copies of the magazine? [Hint: For both three and four copies ordered, express net revenue as a function of demand X, and then compute the expected revenue.]
A manufacturing company employs two inspecting devices to sample a fraction of their output for quality control purposes. The first inspection monitor is able to accurately detect 99.3% of the defective items it receives, whereas the second is able to do so in 99.7% of the cases. Assume that four defective items are produced and sent out for inspection. Let X and Y denote the number of items that will be identified as defective by inspecting devices 1 and 2, respectively. Determine the following. 1) E(x)2) E(Y|X=2)3) V(Y|X=2)4) Are X and Y independent? Why?
John is a manager at a small English Bakery that sells gooseberry pies. Currently, each of his three employees, agent 1, agent 2 and agent 3, work independently on full commission. Assume to begin with that individual effort is observable, and that total output is given by Q = 10(E1 + E2 + E2). Agents are paid a salary of a + Qi (where Q1 = 10 E1 = output from agent 1; Q2 = 10E2 = output from agent 2 = 10E2 and so on). Each agent has an alternative utility level of 10 units, and the cost of effort C(E) = E2. Answer the following questions.a) Given this compensation scheme, what is the (privately) optimal amount of effort for agent 1?b) How many pies does she make?c) What must the fixed portion of agent 1’s income (a) be for her utility on this job to exactly equal 10?d) What is agent 1’s total income in the above situation?e) Check to see that agent 1’s utility level is in fact 10 when she gets this total income and chooses her effort optimally.f) What is the profit for the firm that…
Persons having Raynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes. In an experiment to study the extent of this impairment, each subject immersed a forefinger in water and the resulting heat output (cal/cm2/min) was measured. For m = 9 subjects with the syndrome, the average heat output was x = 0.65, and for n = 9 nonsufferers, the average output was 2.03. Let μ1 and μ2 denote the true average heat outputs for the sufferers and nonsufferers, respectively. Assume that the two distributions of heat output are normal wit
A research study comparing three treatment conditions produces T=20 with n=4 for the first treatment, T=10 with n=5 for the second treatment, and T=30 with n=5 for the third treatment. Calculate SSbetween treatments for this data.
Persons having Raynaud's syndrome are apt to suffer a sudden impairment of blood circulation in fingers and toes. In an experiment to study the extent of this impairment, each subject immersed a forefinger in water and the resulting heat output (cal/cm2/min) was measured. For m = 9 subjects with the syndrome, the average heat output was x = 0.61, and for n = 9 nonsufferers, the average output was 2.09. Let ?1 and ?2 denote the true average heat outputs for the sufferers and nonsufferers, respectively. Assume that the two distributions of heat output are normal with ?1 = 0.3 and ?2 = 0.5. (a) Consider testing H0: ?1 − ?2 = −1.0 versus Ha: ?1 − ?2 < −1.0 at level 0.01. Describe in words what Ha says, and then carry out the test. Ha says that the average heat output for sufferers is the same as that of non-sufferers.Ha says that the average heat output for sufferers is less than 1 cal/cm2/min below that of non-sufferers. Ha says that the average heat output for sufferers is more…

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