STAT TECH IN BUSINESS & ECON LL\AC
18th Edition
ISBN: 9781264720545
Author: Lind
Publisher: MCG
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Chapter 2, Problem 48CE
To determine
To summarize: The data and write a paragraph that describes the findings.
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A firm has redesigned its production process so that it now takes 10 hours for a unit to be made. Using the old process, it took 15 hours to make a unit. If the process makes one unit each hour on average and each unit is worth $1,500, what is the reduction in work-in- process value?
During a one year time period, how many gallons of water would the average household save by using an efficiency washer vs a regular washer? Is this one year savings more or less than the amount of water an average person drinks in a lifetime? Explain and show your assumptions, calculations, and conversions.
Consider it to be essentially 2 separate problems:
How much water is savedin a one year periodwhen using an efficiency washer vs regular washer - answer based on your assumptions and calculations for full credit
How much water does an average person drink in a lifetime– arrive at this answer based on your assumptions and calculations
Compare the answers to those 2 questions to arrive at your conclusion
Below are 2 pieces of information that you might find helpful
there are 128 oz in a gallon
there are 365 days in a year and also 52 weeks in a year
If we increase our food intake, we generally gain weight. Nutrition scientists can calculate the amount of weight gain that would be associated with a given increase in calories. In one study, 16 nonobese adults, aged 25 to 36 years, were fed 1000 calories per day in excess of the calories needed to maintain a stable body weight. The subjects maintained this diet for 8 weeks, so they consumed a total of 56,000 extra calories. According to theory, 3500 extra calories will translate into a weight gain of 1 pound. Therefore, we expect each of these subjects to gain 56,000/3500 = 16 pounds (lb). Here are the weights before and after the 8-week period, expressed in kilograms (kg).
Subject
1
2
3
4
5
6
7
8
Weight before
55.7
54.9
59.6
62.3
74.2
75.6
70.7
53.3
Weight after
61.7
58.7
66.0
66.2
79.1
82.2
74.2
59.3
Subject
9
10
11
12
13
14
15
16
Weight before
73.3
63.4
68.1
73.7
91.7
55.9
61.7
57.8
Weight after
79.1
66.1
73.5
76.8
93.0
63.0
68.1
60.2
Find the mean (x bar) and the…
Chapter 2 Solutions
STAT TECH IN BUSINESS & ECON LL\AC
Ch. 2 - DeCenzo Specialty Food and Beverage Company has...Ch. 2 - A pie chart shows the relative market share of...Ch. 2 - In a marketing study, 100 consumers were asked to...Ch. 2 - A total of 1,000 residents in Minnesota were asked...Ch. 2 - Two thousand frequent business travelers are asked...Ch. 2 - Wellstone Inc. produces and markets replacement...Ch. 2 - A small business consultant is investigating the...Ch. 2 - In the first quarter of last year, the 11 members...Ch. 2 - Prob. 3SRCh. 2 - A set of data consists of 38 observations. How...
Ch. 2 - A set of data consists of 45 observations between...Ch. 2 - A set of data consists of 230 observations between...Ch. 2 - A set of data contains 53 observations. The...Ch. 2 - Wachesaw Manufacturing Inc. produced the following...Ch. 2 - The Quick Change Oil Company has a number of...Ch. 2 - The manager of the BiLo Supermarket in Mt....Ch. 2 - The food services division of Cedar River...Ch. 2 - The annual imports of a selected group of...Ch. 2 - Mollys Candle Shop has several retail stores in...Ch. 2 - The following chart shows the number of patients...Ch. 2 - The following frequency distribution reports the...Ch. 2 - Prob. 18ECh. 2 - A sample of the hourly wages of 15 employees at...Ch. 2 - The following cumulative frequency and the...Ch. 2 - The cumulative frequency and the cumulative...Ch. 2 - The frequency distribution representing the number...Ch. 2 - Prob. 22ECh. 2 - Describe the similarities and differences of...Ch. 2 - Describe the similarities and differences between...Ch. 2 - Alexandra Damonte will be building a new resort in...Ch. 2 - Prob. 26CECh. 2 - A data set consists of 83 observations. How many...Ch. 2 - A data set consists of 145 observations that range...Ch. 2 - The following is the number of minutes to commute...Ch. 2 - The following data give the weekly amounts spent...Ch. 2 - A social scientist is studying the use of iPods by...Ch. 2 - David Wise handles his own investment portfolio,...Ch. 2 - Prob. 33CECh. 2 - The monthly issues of the Journal of Finance are...Ch. 2 - The following histogram shows the scores on the...Ch. 2 - The following chart summarizes the selling price...Ch. 2 - A chain of sport shops catering to beginning...Ch. 2 - Prob. 38CECh. 2 - A recent survey showed that the typical American...Ch. 2 - Midland National Bank selected a sample of 40...Ch. 2 - Residents of the state of South Carolina earned a...Ch. 2 - A recent study of home technologies reported the...Ch. 2 - Merrill Lynch recently completed a study regarding...Ch. 2 - Prob. 44CECh. 2 - Refer to the following chart: a. What is the name...Ch. 2 - The following chart depicts the annual revenues,...Ch. 2 - Prob. 47CECh. 2 - Prob. 48CECh. 2 - One of the most popular candies in the United...Ch. 2 - The number of families who used the Minneapolis...Ch. 2 - Refer to the North Valley Real Estate data that...Ch. 2 - Prob. 52DACh. 2 - Refer to the Lincolnville School District bus...
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