Question

A consumer organization estimates that over a 1-year period 17% of cars will need to be repaired only once, 7% will need repairs exactly twice, and 4% will require three or more repairs.

If you own two cars, what is the probability that:

a) neither will need repair?

b) both will need repair?

c) at least one car will need repair?

Answer #1

A consumer organization inspecting new cars found that many had
appearance defects (dents, scratches, paint chips, etc.). While
none had more than three of these defects, 8% had three, 17%
had two, and 26% had one defect. Find the expected number of
appearance defects in a new car and the standard deviation. Compute
the expected value of the number of appearance defects

A consumer organization inspecting new cars found that many had
appearance defects (dents, scratches, paint chips, etc.). While
none had more than three of these defects, 7% had three, 15%
had two, and 22% had one defect. Find the expected number of
appearance defects in a new car and the standard deviation. Compute
the expected value of the number of appearance defects.
E(appearance defects)equals nothing (Round to two decimal places
as needed.)

The owners of an Italian restaurant are interested in signing a
lease with a restaurant supply company for a new industrial
freezer. Before deciding on the model, the owners want to get an
idea of how reliable the equipment will be over the three-year term
of the lease. For one particular model, the supplier informs the
owners that in a given year, 80% of the freezers sold do not need
service, 11% need service once, 5% need service twice, 4%...

1. A construction company desires to accumulate GH¢25,000 over
a ten-year period to enable it to replace its ageing excavator. For
an interest rate of 10% per annum compounded semi- annually, what
is the required semi-annual payment?
2. A small construction company is considering the purchase of
a used bulldozer for GH¢61,000. If the company purchases the
bulldozer now, the equivalent future amount in year 4 that the
company is paying for the dozer at 4% per year interest is?...

The following article does a good job of breaking down the
advantages/disadvantages of leasing vs. purchasing vehicles: Title:
Pros and Cons of Leasing vs. Buying a Vehicle Source:
http://www.investopedia.com/articles/pf/05/042105.asp Buying a car
can be overwhelming. In fact, the pleasure of getting a new car can
be quickly clouded during the financing decision-making process and
price negotiations. Besides price haggling, many car shoppers are
plagued with the decision to leaseor buy. Which financing decision
is right and why? This article will...

Holding period and annual? (investment) returns. Baker Baseball?
Cards, Inc. originally purchased the rookie card of? Hammerin' Hank
Aaron for $ 33.00. After holding the card for 4 years, Baker
Baseball Cards auctioned the card for $132.00. What are the holding
period return and the simple annual return on this? investment?
Investment
Original Cost
of Investment
Selling Price of Investment
Distributions
Received
Percent Return
+
+
??CD
? $500
?$540
?$0
??
??Stock
?$23
?$34
?$2
??
??Bond
?$1,040
?$980...

Question 1 2 pts
Let x represent the height of first graders in a class. This
would be considered what type of variable:
Nonsensical
Lagging
Continuous
Discrete
Flag this Question
Question 2 2 pts
Let x represent the height of corn in Oklahoma. This would be
considered what type of variable:
Discrete
Inferential
Distributed
Continuous
Flag this Question
Question 3 2 pts
Consider the following table.
Age Group
Frequency
18-29
9831
30-39
7845
40-49
6869
50-59
6323
60-69
5410
70...

Chapter 30 Money Growth and Inflation
1. Over the past 70 years, prices in the U.S. have risen on
average about
a.
2 percent per year.
b.
4 percent per year.
c.
6 percent per year.
d.
8 percent per year.
2. Over the past 70 years, the overall price level in the U.S.
has experienced a(n)
a.
4-fold increase.
b.
8-fold increase.
c.
12-fold increase.
d.
16-fold increase.
4. Inflation can be measured by the
a.
change in the...

1. Summarize in a few sentences what Ayers found about pricing
strategies in car markets.
2. Do you think that this is a profit maximizing strategy? Do
you think this is an appropriate and reasonable strategy for
businesses to undertake it it increases their profits?
3. Can you think of other goods or services that could be - or
are - priced the same way? Check out the article on discrimination
in coffee shops "Waiting for Good Joe" for some...

1
Over the past several years, the proportion of one-person
households has been increasing. The Census Bureau would like to
test the hypothesis that the proportion of one-person households
exceeds 0.27. A random sample of 125 households found that 43
consisted of one person. The Census Bureau would like to set α =
0.05. Use the critical value approach to test this hypothesis.
Explain.
2
Organizations are relying more and more on social-networking
sites to research job candidates. According to...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 11 minutes ago

asked 19 minutes ago

asked 40 minutes ago

asked 43 minutes ago

asked 49 minutes ago

asked 50 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 3 hours ago

asked 3 hours ago