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Assume that Wal-Mart buys a particular Television set for $85. The cost of placing an order for a shipment of TVs is $30. The cost of keeping inventory for Wal-Mart is 25% per year. They expect to sell an average of 500 TV sets in a year (standard deviation 25), at a fairly steady rate. The lead time is 2 weeks.If you were asked to create an (R,s,S) policy for this, what parameters would you pick? Give your reasons.
Suppose that a researcher does a study to see how level of anxiety (A 1 = low, A 2 = medium, A 3 = high) is used to predict exam performance (Y).
A sample of 25 concession stand purchases at the October 22 matinee of Bride of Chucky showed a mean purchase of $5.29 with a standard deviation of$3.02.
Develop a multiple regression model with categorical variables that incorporate seasonality for forecasting sales using the last three years of data in the Excel file New Car Sales.
Calculate the value based on this information. A new screening test for Lyme disease is developed for use in the general population. The sensitivity (ability to identify infected persons) is 60% and specificity (ability to identify non- infected p..
Determine the coefficient of correlation. Interpret the relationship between BAC and age using the correlation coefficient. Determine the coefficient of determination. Interpret.
Testing equality of two means - difference in performance of the two gasolines and difference in gasoline mileage output
A consumer magazine randomly selected 100 new hybrid car dealers from across the country, and created a list of retail prices. They want to know if the price differs from $25,000.
Using the ten sample-mean values, estimate the mean of the population and the variance of x .
Compute a 95% confidence interval for the mean saline of the tears. You select a random sample of 100 tear drops. The sample has an average salt concentration of 0.1 with a standard deviation of 0.01.
Assume that the population of hours worked per week by college graduates employed full-time is normally distributed with mean . Can we conclude that is greater than 40 hours? Use the .01 level of significance.
Kurt's Adventures, Inc. stock is quite cyclical. In a boom economy, the stock is expected to return 30% in comparison to 12% in a normal economy and a negative 20% in a recessionary period.
What is the probability that between 5 and 10 firms, inclusively, purchase a Unix machine from Sun Microsystems?
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