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Q1) Describe meaning of alternatives, criteria and states of nature. Explain how are they utilized in decision analysis?
Q2) Give a personal example of when and how you could have utilized decision analysis to help in making a decision.
Q3) Variables husband and wife tells you whether husband and wife are employed full time. Utilize sign test to test whether husbands and wives are equally likely to be employed full time. What do you conclude?
Q4) When manager considers effect of changes in an LP model's coefficients he/she is performing:
a) Random analysis.
b) Coefficient analysis.
c) Sensitivity analysis.
d) Qualitative analysis.
Q5) Manager must consider how sensitive model is to changes in all of the following except
a) Differential coefficients.
b) Objective function coefficients.
c) Constraint coefficients.
d) Right-hand side values for constraints.
Describe the given data show a seasonal effect using moving average method. Describe the data which show a seasonal effect.
Which of given is the correct decision statement for test?
To find out the test statistics utilizing chi square method. A professional bowler has been having trouble 'hitting the pocket' in order to get strikes.
The average score on the stat midterm was 75 points with a standard deviation of 5 points, and Gregor's z-score was -2. How many points did he score.
A manufacturer of billiard balls is testing three additives to the basic plastic. Show the partial ANOVA table
Using 5% level of significance, is there any difference in proportion of guests who would select the two resorts? What is your conclusion?
Compute SS, variance, and standard deviation for following population of N = 7.Scores: 8, 1, 4, 3, 5, 3, and 4. The definitional formula works well with these scores. Use the definitional formula to compute SS.
A manufacturer of 35-mm cameras knows that a shipment of 30 cameras sent to the large discount store contains 8 defective cameras. The manufacturer also knows that the store will choose two of the cameras at a random, test them, and accept the shi..
How many boxes must the processor sample to be 95 percent confident that the sample mean does not differ from the population mean by more than 0.2 pounds?
A research analyst regresses the number of calls for service (Y) on the Fahrenheit temperature at 4:00 in the afternoon (X). The regression equation finds: Y = 62 + 2.4 X with an r 2 of .67
Explain your answer to someone who is familiar with the T test for a single sample, but not with the T test independent means.
Calculate the value of the chi-square statistic and test whether all regions are statistically the same at 5% and 1% level tests.
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