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The monthly number of permits granted for building houses in a large city is seasonal (there tend to be more permits granted for construction during spring and summer months than during winter months). The following table shows the monthly seasonal indexes for building permits:
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
0.75 0.84 0.98 1.07 1.30 1.31 1.15 1.07 0.95 0.95 0.84 0.79
Using several years of permit data, beginning in August of 2001(i.e., t= 1 corresponds to August of 2001), an analyst reported that the trend line that describes the monthly permit data is of the form . Assuming Tt = 761 + 5t that a multiplicative model can be used to describe the building permit data, generate a forecast for the number of building permits that you expect will be granted in June of 2006.
A stationary store wants to estimate the mean retail value of greeting cards that it has in inventory A random sample of 100 greeting cards. a mean value of 2.55 and standard deviation of 0.44
As a part of a class project, your statistics instructor asks you to weigh a sample of 100 items from a shipment of 500. You are testing the null hypothesis that the mean is greater or equal to 10 lbs.
A company has just manufactured 1295 CDs, and 492 are defective. If 10 of the CD's are randomly selected for testing, what is the probability of the entire batch will be accepted
Give all steps of a test of the hypothesis that the corresponding population proportions are equal.
Promotion occurs on average every 10 days in a large corporation. What is the probability that the next promotion will occur within:
Tthe true population mean when different samples of the same size are taken. Note that the variability of the sample mean is LESS than that of individual observations Does this makes sense?
Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 45 years of experience. Round to the nearest $100.
A mean score on a standardized test is 50 with a standard deviation of 10. Answer the following:
Which of these variables are discrete and which are continuous random variables?
At the .025 significance level, can we conclude that less than 88 percent of the orders are delivered in less than 10 minutes?
If the agency is risk neutral, use a decision tree to determine its best course of action.
Apply the EOQ model to the following quantity discount situation in which D=500 units per year, C0=$40, and the annual holding cost rate is 20%. What order quantity do you recommend?
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