Question
Please Show the expression you are using, and the substitutions you are making to calculate an answer. Please provide detailed explanations. I am new this
Please Show the expression you are using, and the substitutions you are making to calculate an answer. Please provide detailed explanations. I am new this field and would like detailed explanation to learn better.
Q1. A marketing manager of a leading firm believes that total sales for the firm next year can be modelled by using a normal distribution, with a mean of $2.5 million and a standard deviation of $300000
- What is the probability that the firm's sales will exceed $3 million?
- In order to cover fixed costs, the firm's sales must exceed the breakeven level of $1.8 million. What is the probability that sales will exceed the break-even level?
- Determine the sales level that has only a 9% chance of being exceeded next year.
Q2.An international aerospace company has submitted bids on two separate government defense contracts, A and B. The company feels it has a 50% chance of winning contract A and a 40% chance of winning contract B. Furthermore, it believes that winning contract A is independent of winning contract B.
- What is the probability that the company will win both contracts?
- What is the probability that the company will win either of these contracts?
Q3.The following examples can be identified as (1) Categorical/non-ordinal; (2) Categorical/ordinal; (3) Numerical/interval; or, (4) Numerical/ratio scale. For each example, place the number from above which best describes it
------ Your satisfaction level with the Blu-ray player that you purchased
------ The total time you use the Blu-ray player every week on the average
------ How many Blu-ray players made by other manufacturers have you used?
------ The possible responses to the question "Are you happy, indifferent, or unhappy with the performance per dollar spent on the Blu-ray player?"
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