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Identify a real-life example or application of either the binomial or Poisson distribution. Specify how the conditions for that distribution are met. Suggest reasonable values for n and p (binomial) or mu (poisson) for your example. Calculate the mean and standard deviation of the distribution for your example.
Forecast the number of accidents that will occur in May, using least-squares regression to derive a trend equation.
Amanda and Chris McDermott own a small business, Plastic Dollars, which produces and maintains stored value cards for retailers. Most of the cards they sell are gift cards, such as those available in various restaurants and stores.
Draw a decision tree showing the decisions, chance events, and their probabilities, as well as the profitability of outcomes, and solve the decision tree EVsmall expansion = $, EVlarge expansion = $
A recent project nominated for consideration at your company has a four-year cash flow of $20,000; $25,000; $30,000; and $50,000. The cost of the project is $75,000.
In a manufacturing facility that produces laptop computers, there are three production lines that operate independently of each other. On one line, circuit boards on the way to final assembly that do not meet quality standards get "kicked"
Morton Financial must decide on the percentage of available funds to commit to each of two investments, referred to as A and B, over the next four periods.
Elucidate how might principles of scientific management are useful to spring industries. Elucidate how about the quantitative approach.
A firm has a large pool of clerical employees who process insurance application forms. When the firm hires a new clerical employee, it takes that person about 48 minutes to process a form.
Airlines lose thousands of checked bags every day, and America South Airlines is no exception to the industry rule. Over the past 6 weeks, the number of bags "misplaced" on America South flights
What is the profit or loss for the mahcine over its lifetime assuming a best-case scenario? Assuming a worst-case scenario? What is the minimum production level needed to make the purchase viable (breakeven)? To make it past the MARR?
Project planning is so important to get a project off on the right foot. The initiation phase is also key, and using tools can help. How does a Gantt chart differ from a Network chart? When would you use each?
Any unsold CDs are discounted to $1, and all sell at this price. Top Gun will share 35 percent of the revenue with the studio, keeping 65 percent for itself.
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