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The Super Discount store (open 24 hours a day, every day) sells 8-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. The cost to place an order for more is $20 and it takes four days for an order to arrive. a. Find the optimal order quantity. b. What is the reorder point? c. How often should an order be placed?
If 64 students were randomly sampled, the probability that the sample mean of the sampled students exceeds 73.5 minutes is approximately 0.
Of 1338 people who came into a blood bank to give blood, 253 people had high blood pressure. Estimate the probability that the next person who comes in to give blood will have high blood pressure.
For the period from 1918 to the present, in a random sample of 13 wolves spotted in the region, what is the probability that 10 or more were male? What is the probability that 10 or more were female?
The mean sat verbal score is 401, with a standard deviation of 97. Use the empirical rule to determine what percent of the scores lie between 207 and 498.
Describe the distribution of sample means (shape, expected value, and standard error) for samples of n=36 selected from a population with a mean of µ=100 and a standard deviation of σ=12.
Instead, it is expected to increase by only r SDs. For a given value of x, how do we estimate the average value of y we would expect?
Should we thus conclude that verbal praise tends to lower performance levels, whereas verbal criticism tends to raise them? Or is some other explanation possible?
Suppose we have a population of scores with a mean = 200 and a standard deviation = 10. Assume that the distribution is normal. Provide answers to the following questions:
Use the Empirical Rule to estimate the proportion of costs within two standard deviations of the mean. What are these limits?
Use a .10 level of significance to test the claim that the variance of all scores in the population is more than 9.
In a recent year, 10% of all luxury cars sold were black. If 25cars of that year and type are randomly selected, find the following probabilities.(a) At least five cars are black.
Mr. James McWhinney, president of Daniel-James Financial Services, believes there is a relationship between the number of client contacts and the dollar amount of sales.
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