Ford wants to forecast new car sales for 2021. The number of cars sold in a...
Ford wants to forecast new car sales for 2021. The number of cars sold in a year is known to be a random variable with a normal distribution with mean (108 )θ and standard deviation 106 , where θ is the unemployment rate during the year. The prior density of θ for 2021 is thought to be approximately N(.035, .005). What is the distribution of cars sales for 2021?
Homework Answers
Add Answer to:
Ford wants to forecast new car sales for 2021. The number of
cars sold in a...
Sales records indicate that the selling price of used cars at a large car dealership are...
Sales records indicate that the selling price of used cars at a large car dealership are skewed right, with a mean of $17000 and a standard deviation of $11000 Explain whether Table Z (the normal distribution table) could be used to find the probability that a single used car at this dealership would sell for less than $20000 For a random sample of 70, the mean for the sampling distribution of average price would be and the standard deviation would...
Fast Auto Service provides oil and lube service for cars. It is known that the mean...
Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50% discount on the charges. The company wants to limit this...
Fast Auto Service provides oil and lube service for cars. It is known that the mean...
Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50% discount on the charges. The company wants to limit this...
Fast Auto Service provides oil and lube service for cars. It is known that the mean...
Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50% discount on the charges. The company wants to limit this...
a report announced that the median sales price of a new houses sold one year was...
a report announced that the median sales price of a new houses
sold one year was 221,000 and the mean sales price was 273,000.
assume that the standard deviation of the price us 90,000.
complete A-D with full work please so i may know how to do in
the furture
A report announced that the median sales price of new houses sold one year was $221,000, and the mean sales price was $273,000 tf you select samples of n#2, describe...
A report announced that the median sales price of new houses sold one year was $211,000,...
A report announced that the median sales price of new houses sold one year was $211,000, and the mean sales price was $271,200. Assume that the standard deviation of the prices is $80,000. Complete parts (a) through (d) below. (a) If you select samples of n = 2, describe the shape of the sampling distribution of Upper X over bar. Choose the correct answer below. A. The sampling distribution will depend on the specific sample and will not have a...
A report announced that the median sales price of new houses sold one year was $221,000,...
A report announced that the median sales price of new houses sold one year was $221,000, and the mean sales price was $272,400. Assume that the standard deviation of the prices is $100,000. Complete parts (a) through (d) below. if you select samples of n=2, describe the shape of the sampling distribution of X Choose the correct answer below. A. The sampling distribution is skewed to the right (because population was skewed to the right), but less skewed to the...
Fast Auto Service provides oil and lube service for cars
Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50% discount on the charges. The company wants to limit this...
A car manufacturer investigates failure mileages for the motors of its cars. It is known that...
A car manufacturer investigates failure mileages for the motors of its cars. It is known that the motor failure mileages follow a normal distribution with a mean of 150,000 miles and standard deviation of 25,000. a. In order to design the car warranty, the manufacturer needs to know what is the failure mileages by which 1% of the motors are expected to fail (rounded to whole miles). b.What is the probability that a motor does not fail until 200,000 miles...
2. A college graduate wants to buy a car but is concerned about the rising gas...
2. A college graduate wants to buy a car but is concerned about the rising gas prices in the city of Tema. It is known the mean gas price is 1.55 CAD/L with a standard deviation of 0.2 CAD/L. The graduate wil (a) Assuming that the gas prices in the city of Tema follows a Normal distribution, find the following i. A gas station is selected at random from the city of Tema. What is the probability that the price...
Sales records indicate that the selling price of used cars at a large car dealership are skewed right, with a mean of $17000 and a standard deviation of $11000 Explain whether Table Z (the normal distribution table) could be used to find the probability that a single used car at this dealership would sell for less than $20000 For a random sample of 70, the mean for the sampling distribution of average price would be and the standard deviation would...
Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil and lube service at this garage is 15 minutes per car and the standard deviation is 2.4 minutes. The management wants to promote the business by guaranteeing a maximum waiting time for its customers. If a customer's car is not serviced within that period, the customer will receive a 50% discount on the charges. The company wants to limit this...
a report announced that the median sales price of a new houses
sold one year was 221,000 and the mean sales price was 273,000.
assume that the standard deviation of the price us 90,000.
complete A-D with full work please so i may know how to do in
the furture
A report announced that the median sales price of new houses sold one year was $221,000, and the mean sales price was $273,000 tf you select samples of n#2, describe...
A report announced that the median sales price of new houses sold one year was $221,000, and the mean sales price was $272,400. Assume that the standard deviation of the prices is $100,000. Complete parts (a) through (d) below. if you select samples of n=2, describe the shape of the sampling distribution of X Choose the correct answer below. A. The sampling distribution is skewed to the right (because population was skewed to the right), but less skewed to the...
2. A college graduate wants to buy a car but is concerned about the rising gas prices in the city of Tema. It is known the mean gas price is 1.55 CAD/L with a standard deviation of 0.2 CAD/L. The graduate wil (a) Assuming that the gas prices in the city of Tema follows a Normal distribution, find the following i. A gas station is selected at random from the city of Tema. What is the probability that the price...
Most questions answered within 3 hours.
-
All cells have a membrane potential but only excitable cells
like neurons or muscle cells can...
asked 7 minutes ago -
Suppose a quiz contains 20 true/false questions. You
know the correct answer to the first 10...
asked 35 minutes ago -
Is depression the cause or the effect of a stressful
situation? Explain.
12) How do learning...
asked 1 hour ago -
Critically discuss whether the Bretton Woods System has been
based on Keynesian principles. Please give me...
asked 2 hours ago -
An ammeter with a scale ranging from 0 to 15mA has a resistance
of 5Omega. How...
asked 3 hours ago -
def blur(img: Image) -> Image:
"""Blur Image, img, based on the given pixel_size
Hints:
- For...
asked 2 hours ago -
a
carboxylic acid reacting with a strong base will form what
ion
asked 4 hours ago -
which value if any in each pair corresponds to a
faster reaction k=18.k=137
asked 4 hours ago -
Bus lines can be separated into two generic types, dedicated and
multiplexed.
i. What is the...
asked 6 hours ago -
This is 'Branding' course which is part of marketing.
1. As a brand manager of Nudie...
asked 6 hours ago -
You are considering the purchase of a new stock. The stock is
forecasted to pay a...
asked 7 hours ago -
vector a has componets Ax and Ay, and makes an angle theta with
the y-axis. Select...
asked 7 hours ago