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Choose a product you are familiar with as a consumer. Answer the following.
1) What type of demand patterns would that product have - cyclical, secular, seasonal, etc. or a combination of several types? Explain.
2) What type of forecasting would you think is better for that product - time series or regression, and why?
Calculate the Coefficient of Skewness and the Coefficient of Variation for time spent working on QM.
Suppose each employee in the company receives a $3000 raise for next year (each employee's salary is increased by $3000). The interquartile range of the salaries will
Women in the U.S. Air Force have hands that are 6.9 inches on the average (from the tip of the middle finger to the heel of the hand). The standard deviation is 0.34 inches. Assume that hand length is normally distributed.
What is the probability that the team wins tonight and that there will be a large crowd at tomorrow's game?
The Price-to-Earnings ratio (P/E) of a publicly listed profit-making company is defined as the ratio of the stock price of the company to the earnings per share.
A store asked 250 of its customers whether they were satisfied with the service or not. The responses were also classified according to the gender of the customers. We want to study whether there is a relationship between satisfaction and gender.
Here is a simple probability model for multiple-choice tests. Assume that each student has probability p of correctly answering the question chosen at random from universe of possible questions.
In a slow year, Deutsche Burgers will produce 2 million hamburgers at a total cost of $3.5 million. In a good year, it can produce 4 million hamburgers at a total cost of 4.5 million.
Compute and interpret each of the statistics in parts(a) through (f) Mean and Median.
The random variable x is known to be uniformly distributed between 1.0 and 1.5.
From the following information for Alfred Industries compute the overhead spending variance and the volume variance:
In brief describe three situations in which the 'First In First Out' discipline rule is not applicable in queuing analysis. Provide examples of four situations in which there are limited, or finite population.
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