Scenario 13.1 - Nefarious

question 45

Multiple Choice

Scenario 13.1 - Nefarious
The tenured professor routinely led student groups on factory tours in exotic locales,and one popular destination was an island south of Miami.The students enjoyed this happy little island and the professor liked it because he could supplement his income by bringing back a few boxes souvenirs he could sell to his friends.The souvenirs cost the professor $125 a box and he sells them for $290 a box.Souvenirs that dry out due to age can be sold for $80.Experience has shown that the demand for boxes of these souvenirs has a mean of 80 with a standard deviation of 20.
-The professor's suitcase has room for 50 boxes of souvenirs.How many boxes does he expect to have left once his friends have bought what they want?

• A)0
• B)1
• C)2
• D)3

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Definitions:

Coefficient Of Determination

A statistical measure that explains how much the variance of one variable explains the variance of the second variable.

Dependent Variable

A variable in statistical modeling whose value is influenced or predicted by one or more other variables.

Independent Variable

A variable in an experiment or model that is manipulated to observe its effect on a dependent variable.

Coefficient Of Determination

A measure used in statistical analysis that assesses the proportion of variance in the dependent variable that can be predicted from the independent variable(s).