c. How many transactions were made in the first month? d. How many transactions were made in total (in both months at all 3 stores)?
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- What is the total effect on the economy of a government tax rebate of $500 to each household in order to stimulate the economy if each household will spend of the rebate in goods and services?A iPhone store starts by selling 100 iPhone pre-ordered in week zero and expects to sell an average of 15%more each week after that. How many iPhone is the store expected to sell in week 4?A population of 200 healthy men was followed up for the development of prostate cancer. 10 men were followed-up for 1 year and were then lost to follow-up. After being followed-up for 5 years, 10 men developed prostate cancer. The remaining men who never developed prostate cancer were followed for 10 years. Calculate the total number of person years of observation accrued by this population
- Thirty identical flashlights were loaded with newly purchased alkaline AA batteries. Ten of them contained Duracell, ten contained Energizer, and ten contained Rayovac brand batteries. The flashlights were turned on and placed on a bookshelf where a time-lapse video camera captured how long (in minutes) each beam of light lasted. These times are displayed in the following table. Brand Time (in minutes) of Flashlight Continuous Use with New Alkaline AA Batteries Duracell 244 241 236 239 240 237 243 251 245 232 Energizer 231 240 236 243 246 249 238 247 236 240 Rayovac 178 184 185 167 183 191 166 185 171 182 Use a 0.01 level of significance to conduct a hypothesis test to establish if the mean length of continuous use for this flashlight is equivalent when using either Duracell, Energizer, or Rayovac brand alkaline AA batteries.A farmer would like to evaluate Miracle Grow when used on his potted daisy plants. He sets up 20 plants in a room all facing the same window, obtaining the same amount of sunlight, and waters them identically each day. For a month, he monitors how much each plant grows. Then, he adds Miracle Grow to every pot and monitors how much each plant grows during a month with Miracle Grow. At the end of two months, he discovers that 14 plants grew more with Miracle Grow. Test the hypothesis that Miracle Grow increases plant growth (using an alpha level of .01). a) Is this a one-tailed or two-tailed test? ( b) State the null hypothesis. c) State the alternative hypothesis. d) Find the critical value(s). e) Calculate the obtained statistic. f) Calculate the P-Value (significance) of the obtained statistic). g) Make a decision. h) What does your decision mean?A certain vehicle loses 35% of its value each year. Compute the value of the vehie at the end of the 3rd year
- Suppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…A manufacturer producing a new product estimates the annual sales to be 9600 units. Each year, 8% of the units that have been sold will become inoperative. So, 9600 units will be in use after 1 year, [9600 + 0.92(9600)] units will be in use after 2 years, and so on. How many units will be in use after n years?Suppose 24% of students at Florida University are business students. Of those, 28% are Econ majors.What percent of Florida University students are Econ majors? Round your answer to three decimal places.