The operations manager at a light emitting diode (LED) light bulb factory needs to estimate the mean life of a large shipment of LEDs. The manufacturer's specifications are that the standard deviation is 1,500 hours. A random sample of 64 SELF TEST LEDs indicated a sample mean life of 49,875 hours. a. Construct a 95% confidence interval estimate for the population mean life of LED light bulbs in this shipment.
b. Do you think that the manufacturer has the right to state that the LED light bulbs have a mean life of 50,000 hours? Explain.
c. Must you assume that the population LED light bulb lifei normally distributed? Explain.
d. Suppose that the standard deviation changes to 500 hours. What are your answers in (a) and (b)?

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Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?