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A video store needs to keep enough recorders in inventory to meet customer demand. But keeping inventories to meet all demand is costly. The manager estimates that 90% of consumer demand for videos will minimize cost. If the monthly demand for videos on average is 180 and standard deviation = 60, what is the number of videos the manager should order to meet 90% customer demand?
Round the intermediate values to 2 decimal places. Round your answer to 2 decimal places, the tolerance is +/-0.05. Type of music preferred is independent or not independent of region of the country?
Find the probability that the amount of total claims over a period of 100 days is at least $150,000. (Use the fact that the sum of independent normally distributed random variables is normally distributed, with mean equal to the sum of the individ..
To be 99% sure that we will not be late in completing the project, what is the requested completion time in work-days?
Quarterly customer surveys are taken at a medical center. Each individual department has scores and is comparted to the medical center average. Department of Physical Therapy had scores of 9.14, 9.19 and 7.75 for quarters 1-3 respectively.
Erthromyacine is a drug that has been related with side effects during pregnancy. Assume that 30% of women experience side effects between the 24th and 28th week of pregnancy.
Once production is set up, 80 units can be produced per day. Daily demand rate for the units is 60 per day. a. What is the most economical number to produce per production run? b. How long is each production cycle?
An accounting firm is planning for the next tax preparation season. From last year's returns, the firm collects a systematic random sample of 100 filings.
The researcher wants to determine whether there is a relation between the type of residence owned and the level of the family income. He randomly sampled 100 homeowners and obtained the following data:
Find the third quartile Q3 of the list of 24 sorted values shown below. Which is relatively better: a score of 81 on a psychology test or a score of 50 on a economics test? Scores on the psychology test have a mean of 88 and a standard deviation of..
Find out the mean number of letters that will arrive in two days.
This activity is a revision of an activity found in Real Data: A Statistics Workbook Based on Empirical Data by Z. C Holcomb (1997). Published by Pyrczak Publishing.
64% of men consider themselves professional baseball fans. You randomly select 10 men and ask each if he considers himself a professional baseball fan.
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