Questions from General Business Management

Q: There are 10 questions on a true–false test. A

There are 10 questions on a true–false test. A student feels unprepared for this test and randomly guesses the answer for each of these. (a) What is the probability that the student gets exactly 7 cor...

Q: The game of roulette is popular in many casinos around the world

The game of roulette is popular in many casinos around the world. In Las Vegas, a typical roulette wheel has the numbers 1–36 in slots on the wheel. Half of these slots are red, and the other half are...

Q: Although Ken Brown (discussed in Problem 3-17) is

Although Ken Brown (discussed in Problem 3-17) is the principal owner of Brown Oil, his brother Bob is credited with making the company a financial success. Bob is vice president of finance. Bob attri...

Q: Describe what is involved in the decision process.

Describe what is involved in the decision process.

Q: The Technically Techno company has several patents for a variety of different

The Technically Techno company has several patents for a variety of different flash memory devices that are used in computers, cell phones, and a variety of other things. A competitor has recently int...

Q: The Lubricant is an expensive oil newsletter to which many oil giants

The Lubricant is an expensive oil newsletter to which many oil giants subscribe, including Ken Brown (see Problem 3-17 for details). In the last issue, the letter described how the demand for oil prod...

Q: An industrial oven used to cure sand cores for a factory manufacturing

An industrial oven used to cure sand cores for a factory manufacturing engine blocks for small cars is able to maintain fairly constant temperatures. The temperature range of the oven follows a normal...

Q: Steve Goodman, production foreman for the Florida Gold Fruit Company,

Steve Goodman, production foreman for the Florida Gold Fruit Company, estimates that the average sale of oranges is 4,700 and the standard deviation is 500 oranges. Sales follow a normal distribution....

Q: Susan Williams has been the production manager of Medical Suppliers, Inc

Susan Williams has been the production manager of Medical Suppliers, Inc., for the past 17 years. Medical Suppliers, Inc., is a producer of bandages and arm slings. During the past 5 years, the demand...

Q: Armstrong Faber produces a standard number-two pencil called Ultra-

Armstrong Faber produces a standard number-two pencil called Ultra-Lite. Since Chuck Armstrong started Armstrong Faber, sales have grown steadily. With the increase in the price of wood products, howe...