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1. A manufacture of tires wants to advertise a mileage interval that excludes no more than 10% of the mileage on tires he sells. All he knows is that, for a large number of tires tested, the mean mileage was 25,000 miles, and the standard deviation was 4000 miles. What interval would you suggest?
2. Five cards are drawn from a standard 52-card playing deck. What is the probability that all 5 cards will be of the same suit?
scores on the stanford-binet intelligence scale have a mean of 100 and a standard deviation of 16 and are presumed to
If the sales are $150,000 per month, determine how much the company can expect to receive of this amount.
A new-car dealer is leasing various brand-new models for the monthly rates(in dollars) listed below. Estimate the true population variance and standard deviation in leasing rate with 90% confidence.
Of the drivers who stop at a gas station, 92% purchase gasoline, and 6% purchase both gasoline and oil. A total of 7% purchase oil.
Show the graph of the probability density function for flight time.
If the manufacturer stocks 100 components, what is the probability that the 100 orders can be filled without reordering components?
When there are multiple observations per subject, what issues are there with doing a MNL and an ordered logit model, answer in detail and provide example.
A product sold by Home Depot, Inc., with an annual demand of 1000 units has Co = $25.50 and Ch = $8. The demand exhibits some variability such that the lead-time demand follows a normal probability distribution
a sales manager collected the following data on annual sales and years of experience. sales
A gallop poll that was based on telephone interviews conducted April 9-12, 2012, using a random sample of 1016 adults aged 18 and older, living in all 50 US states and the District of Columbia, indicated that 29% of Americans spent more money in rece..
Use Chebyshev's theorem to find what percent of the values will fall between 120 and 150 for a data set with mean of 135 and standard deviation of 7.5.
Which of the following methods could be used to determine future order quantities? forecasting, regression, inventory models.
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