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Q1) Market in Boston orders oranges from Florida. Oranges are shipped to Boston from Florida by either railroad, truck, or airplane; an order can take 1,2,3, or 4 days to arrive in Boston once it is placed. Following probabilities have been assigned to number of days it takes to receive order once it is placed (referred to as lead time):
Lead time
Probability
1
0.20
2
0.50
3
4
0.10
Total
Calculate expected number of days it takes to get the order and standard deviation.
Willow Furniture Company produces tables. Fixed monthly cost of production is $8,000, and variable cost per table is $65. Tables sell for $180.
1) For monthly volume of 300 tables, find out total cost, total revenue and profit.
2) Find out monthly break-even volume for Willow Furniture Company.
The casino game craps is based on rolling two dice. Here is the assignment of probabilities to the sum of numbers on the up face when two dice are rolled:
ABC Corporation has been using statistical process control for several months.
Use a scatter plot to determine the relationship between the x values and the y values.
what sample size should be used in the funding decision study? Use σ = $4000 as a planning value. ________________
The ages of cars owned by all employees of a large company have a bell shaped distribution with a mean of 8 years and a standard deviation of 2 years. Using the empirical rule, find the approx. percentage of cars (owned by those employees) that are b..
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Examined the effect of body position on blood pressure
Assume the researcher's rats can be considered an SRS from the population of all laboratory rats. The mean Math SAT score of these students is found to be 560, 80 points higher than the national average.
Findout the probability value for normal distribution. Illustrate the weight of football players is normally distributed with a mean of 200 pounds also a standard deviation of 25 pounds.
Find the probability that at least one subject experiences headaches. Is it unusual to have at least one of six subjects experience headaches?
Compute a 5-month moving average forecast for June through January.
A random sample of 100 students at Southern University was collected. The mean age was found to be 24.2 years, with a standard deviation of 3.4 years.
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