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A store (open 24 hours a day, every day) sells 8-roll packs of paper towels, at the rate of approximately 420 packs per week. Because the towels are so bulky, the annual cost to carry them in inventory is estimated at $.50 per 8-roll pack. The cost to place an order is $20. It takes four days for an order to arrive. Currently, Super D has a policy of ordering once each month and for quantities of 1000 packs.
a. Find the optimal order quantity
b. What is the optimal total ordering cost per year vs. what is that cost with the current policy?
c. How would you determine whether the Store management should continue with this policy or not?
At the .05 level of significance, can we conclude the Middletown students stayed in their districts less time than the Brockton students? Use the five-step hypothesis testing procedure.
A medical research project examined the relationship between the subject's weight and recovery time from surgical procedure, as shown in the table below.
Is it reasonable typical worker does not miss any days during a pay period?
You have been given a report that presents two regression models with different numbers of independent variables. You do not have the data so you cannot re computed regression models. Nevertheless, you have been asked to find out which model is b..
Five homes were recently sold in Oxnard Acres. Four of the homes sold for $400,000 while the fifth home sold for $2.5 million. Which measure of central tendency best represents a typical home price in Oxnard Acres?
Jeweller desires to know how many of each item to make each week to maximize profit. Create the integer programming model for this problem (written in format similar to way Problems 1 and 2 were presented).
The average for 14 cross-country runners is 172 mg/dl with a standard deviation of 41 mg/dl. Solve using the Traditional Method. Find the p-value for your test statistic. Use an α = 0.05.
If a student is randomly selected what is the possibility that the student is male and from out of state.
Do students tend to improve their SAT Mathematics (SAT-M) score the second time they take the test? A random sample of four students who took the test twice received the following scores
Calculate sample proportion and then also calculate a 99% confidence interval for true population proportion, p.
At α = 0.01 level of significance, test the hypothesis that these data can be described by a Poisson pdf.
Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150
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