Confidence interval of the true proportion
A recent study of 900 internet users in Europe found that 20% of internet users were women. What is the 95% confidence interval of the true proportion, p, of women in Europe who use the internet?
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Joe Henderson runs the small metal part shop. The shop has three machines- drill press, lathe, and grinder. Prepare the linear programming model for the problem.
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The utility company desires to estimate the percentage of people in the U.S. who use electricity to heat their homes. Past data indicate that 154 out of 700 customers surveyed used electricity to heat their homes.
Suppose the following demand and supply functions for the product: Demand: Q = 800 - .6P Supply: Q =200 + .2P (i) Find equilibrium price and quantity (ii) Suppose the seller has decided to sell product for 500. What will occur?
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