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Deacon Production Company faces the following demands during the next three weeks: week 1, 20 units; week 2, 10 units; week 3, 15 units. The unit production costs during each week are as follows: week 1, $13; week 2, $14; week 3, $15. A holding cost of $2/unit is assessed against each week's ending inventory. At the beginning of week 1, the company has 5 units on hand. In reality, not all goods produced during a month can be used to meet the current month's demand. To model this fact, we assume that only half of the goods produced during a week can be used to meet the current week's demand (assume that all of the prior week's ending inventory can be used to meet the current week's demand). Determine how to minimize the cost of meeting the demand for the next three weeks.
Determine the variance of firm's profit for the month.
Draw a sketch of the standard normal distribution curves, one for the current process and another one for the recentered process. Label the spec limits and shade the area of the curve that corresponds to your answer.
Calculate separately for 1983 and 1987, the 95% confidence interval for the proportion of students who had driven an automobile while drinking.
Event A occurs with probability 0.2. Event B occurs with probability 0.3. Event C occurs with probability 0.4. If A, B, and C are disjoint, then
Estimating the combined mean values for the given data - find the mean for the combined sample
Nancy believes that the average running time of movies is equal to 140 minutes. A sample of 4 movies was taken and the following running times were obtained. Assume the population of the running times is normally distributed.
Insurance policy from company A costs $300 a year but guarantees to replace any losses due to theft. Create the decision tree.
Construct a 90 percent confidence interval for the proportion of all kernels that would not pop.
For each of the following situations, indicate the appropriate measure, incidence rate or prevalence rate and the numerical value of the rate.
Show that it satisfies the required condition for being a probability distribution.
At the .01 level of signiicance, is the true mean greater than 10?
Using multiple linear regression, compute the regression equation for the following data in Excel.
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