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Question 1. Even though independent gasoline stations have been having a difficult time, Susan Solomon has been thinking about starting her own independent gas station. Susan's problem is to decide how large her station should be. The annual returns will depend on both the size of the station and a number of marketing factors related to oil industry and demand for gasoline. After careful analysis, Susan developed the following table: 1. Develop a decision table for this decision.2. What is the Maximax decision?3. What is the Maximin decision?4. What is the criterion of realism decision? Use α = 0.6.5. Develop an Opportunity Loss Table6. What is the Minimax Regret Decision? Question 2. Data collected on the yearly demand for 50-pound bags of fertilizer at Sunshine Garden Supply are shown in the following table. Use Excel QM to: 1. Develop a three-year moving average to forecast sales in year 12.2. Develop a 3-year weighted average to predict demand in year 12, in which sales in the most recent year is given a weight of 2 and sales in the two years prior to that are each given a weight of 1.3. Develop a regression/trend line to estimate the demand for fertilizer in year 12.4. Based on the three forecasts you have created, which forecast is the most accurate? Question 3. Kaplan College has decided to "wire" its campus. The first stage in this effort is to install the "backbone," i.e., to connect all the buildings. The table below gives the distances between the various buildings on campus in hundreds of feet. 1. How should the buildings be connected to minimize the total length of cable?
2. What length of cable is required? Question 4. The following represents the distances in miles from a warehouse (node 1) to various cities in Montana. The major outlet store is located at node 7. 1. Find the shortest route and distance from Node 1 to Node 7. Question 5. The network of a city sewer system and their capacities are shown below. Remember that the arc has both capacity and reverse capacity. For example, row 1 is the flow from node 1 to node 2 and row 2 is the reverse flow from node 2 to node 1. There are eight branches in this network. Determine the maximum flow (in hundreds of gallons of water per minute) from node 1 to node 5 Question 6. The governor of Michigan believes that the state can improve the state's crime rate if the state can reduce the college debt carried by its citizens and if they can increase the percent of the population covered by health insurance. 1. Using the States Data Set and PHStat, create the multiple regression prediction equation.2. Predict the crime rate for Michigan if the college debt were $25,000 and the percent not covered by insurance was 10? Question 7. A concessionaire for the local ballpark has developed a table of conditional values for the various alternatives (stocking decisions) and states of nature (size of crowd). If the probabilities associated with the states of nature are 0.30 for a large crowd, 0.50 for an average crowd, and 0.20 for a small crowd, determine: 1. The alternative that provides the greatest expected monetary value (EMV).2. The expected value of perfect information (EVPI).
the mean number of errors per page made by a memebr of the word processing pool for a large company is thought to be
A polling company obtains an alphabetical list of names of voters in a precinct. They select every 20th person from the list until a sample of 100 is obtained.
Can we conclude that mean time for game is less than 3.50 hours? Use.05 significance level.
a sample of 100 people is classified by gender malefemale and by whether or not they are registered voters. the sample
the weights in pounds of discarded plastic from a sample of households summary statistics are n62 x1.911 s1.065 use a
At what point do we start to doubt the claims of the outsourcing company? Do you think the outsourcing company is delivering on their promise
Average of $800 per month and a standard deviation of $50 per month. Find the probability that a randomly selected month had a personal call expense that falls below $650.
What is the sample size for this poll? That's a much larger sample than standard sample surveys. In spite of this, we can't trust the result to give good information about any clearly defined population. Why?
The management of White companies considering a new method of assembling its golf cart. Compute which assembly time using the new method is faster.
in the formula for sample variance based on a sample of size n why is the sum of squares divided by n-1?select onea.
A manufacturer of batteries for "kids' toys" wishes to investigate the length of time a battery will last. Tests results on a sample of 10 batteries indicated a sample mean of 5.67 and a sample standard deviation of 0.57.
the file contains the total cost for four tickets two beers four soft drinks four hot dogs two game programs two
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