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Lakeshia sells 3,600 high end folding therapy chairs each year. The cost of each chair is $200, and demand is constant throughout the year. The cost of placing an order is $40, while the holding cost is $20 per unit per year. There are 360 working days per year and the lead-time is 5 days. If Lakeshia orders 200 units each time she places an order, what would her total ordering cost be for the year
Calculate variance of a poisson random variable?
What are the possible values of this random variable and draw the density function.
A local ice-cream store receives an average of 3 customers per hour. Assume that the arrival events are well described by Poisson distribution. The cashier wants to leave the store to run an errand. The manager computes the expected time T between..
Let X1....X10 be a random sample from a population with mean 50 and standard deviation 4. Let X be the sample mean. Find the expected value and standard deviation of X. Do you know the probability distribution of X ? Clearly state any neces..
An alternative has a discounted project cost of $5,215,000 with no salvage value. The estimate was in constant dollars and the discounting used mid-year factors. While the period of analysis is 4 years, the alternative only provides benefits f..
Which of the following may be considered a variable
Two laboratory and two randomized field experiments tested a psychological intervention designed to improve students' scores on high-stakes exams and to increase our understanding of why pressure-filled exam situations undermine some students' per..
A clinical trial is conducted comparing a new pain medication for arthritis. Participants are randomly assigned to receive the new medication or a placebo. The outcome is pain relief within 30 minutes.
Does the coin flipping process you just completed illustrate the Law of Large Numbers? Why or why not?
The National Association of Colleges and Employer
What is the probability of winning a prize in an office sweep
question 1. what would be the appropriate statistical procedure to test the following hypothesisnbsp triglyceride
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