Population standard deviation of the lifetime
If the population standard deviation of the lifetime of washing machines is estimated to be 900 hours, how large a sample must be taken in order to be 97% confident that the margin of error will not exceed 100 hours?
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Products Gamma and Delta are joint products. The joint production cost of the product is $800. Gamma has a market value of $500 at the split-off point. If Gamma is further processed at an additional cost of $600, its market value is $1,400.
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