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Washington Metro Bus Inc. operates a fleet of 400 buses. The fleet includes buses used for public transit as well as school buses. Buses used in public transit average close to 400 miles per day, seven days a week. School buses also amass considerable mileage, though not nearly as much as public transit bus. Metro Bus is interested in setting up inventory policy for bus tires that minimizes the sum of annual ordering and carrying cost. All buses use the same type of tires and the annual requirement of tires are 5000. Ordering cost per order is $125, and the cost for carrying a tire annually in inventory is $20. For practically purposes, the lead time is zero, as the supplier agrees they will deliver on the day the order is placed. Note that the basic unit of measurement for a period is one year in this case.
Problem:
1. What is the Economic Order Quantity (EOQ)?2. Compute the optimal number of orders each year?3. What is the length of the inventory cycle?
To help schedule staffing and equipment needs, a large hospital uses a multiple regression model to predict its 'bed census' y, the number of beds occupied at the end of each day.
Set up the null and alternative hypotheses for Coca-Cola. In terms of Coke's decision to introduce the new bottle or not, what is a Type I error?
Standardized measures seem to indicate that the average level of anxiety has increased gradually over the past 50 years. In the 1950s, the average score on the child manifest anxiety scale was µ=15.1. A sample of n=16 of today's children produces ..
If a baseball player's batting average is 0.340 or 34%, find the probability that the player will have a bad season and only score at most 60 hits in 200 times at bat?
A 1990 census report revealed that the mean distance that U. S. citizens live from their birthplace is 50 miles and that the standard deviation is 15 miles. A random sample of 49 residents of your city yielded a mean distance of 56 miles.
Construct a 94% confidence interval for the true mean fill volume for all jugs of softener.
In a study of human blood types in nonhuman primates, a sample of 71 orangutans were tested and 14 were found to be blood type B. Construct a 95% confidence interval for the population proportion of blood type B in the orangutan population.
Explain the difference between a left tail, two-tailed, and right tailed text. When would we choose a two tailed test? How can we tell the direction by looking at a pair of hypothesis?
Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?
He argues that regression effect says people who do very poorly in their previous job tend to perform well in their next job. Is this what the regression effects? Describe in detail.
If 3 different factor levels show a lot of variation between levels this implies:
You are given the sample mean and the sample standard deviation. use this information to construct the 90% and 95% confidence intervals for the population mean.
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