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Your store has an average of 40 customers per an eight hour shift. You need to know whether you should hire 1, 2, 3 or 4 salespersons. The waiting times is 15 minutes with one salesperson, 12 minutes with two, 10 minutes with three and 6 minute with a fourth. The cost per a minute that customers wait is $1.00. The cost per a salesperson per an hour is $8.00. How many salespersons should you hire?
At a recent meeting of educational researchers comparison were made between the type of college freshmen attend and the numbers who drop out. A random sample of freshmen show the following results: (keep two decimals in calculating expected fre..
Calculate this seasonal adjustment index if i have 14 periods instead of 16 periods needed?
A businessman parks his car illegally in the streets of Amsterdam twice a day for a period of exactly one hour. Parking surveillances occur according to a Poisson process with an average of λ passes per hour. What is the probability of the bus..
Interpret the coefficient of correlation (i.e., r) for a given scatter plot
Let X1, X2 be two random variables with joint pdf f(x1, x2)=4x1x2, 0
In recent years the irradiation of food to reduce bacteria and preserve the food longer has become more common. A company that performs this service has developed four dierent methods of irradiating food. To determine which is best, it conducts a..
an experiment is conducted in which 60 participants each fill out a personality test but not according to the way they
Produce a short report to update your manager on both the method and results of your analysis and the introduction od 'Six Sigma'.
A business man must travel to five different destinations
For each of the following situations, would you prefer that your data value is a low outlier, high outlier, or the mean when compared to others' data values? Why? Provide reasoning. Use your knowledge of what the mean, low, or high outlier i..
HYPOTHESIS TESTING AND CONFIDENCE INTERVALS
80% of those who take a certification exam pass it. Assume binomial distribution applies. 15 people have registered to take the exam in June. What is the probability that exactly 12 of them will pass the test?
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