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Given the following data on the number of pints of ice cream sod at a local ice cream store for a 6 period time frame.
Period Demand1 2002 2453 1904 2805 2806 300
a. Compute a 3 period moving average for period 4
b. Compute a 3- period moving average for period 6
c. Compute a 3- period moving average for period 7
d. Compute a 5-period moving average for period 6
e. Compute a 5-period moving average for period 7
The mean amount purchased by a typical customer at Churchill's Grocery Store is $23.50 with a standard deviation of $5.00. Assume the distribution of amounts purchased follows the normal distribution. For a sample of 50 customers, answer the follo..
An investment firm with 10,000 clients would like to accurately forecast the average dollar amount their current customer will deposit over the coming year.
What is the probability of receiving more than three pieces of junk mail today?
Establish a 99% Confidence interval about the difference in the proportion of the town voters and county voters who favor the proposal.
Construct a 99% confident interval for the standard deviation of the amount of vitamin B6 per pill.
What happens to the confidence interval and the power of the test at a particular point of interest. As one increases the sample size of a test, all else remaining the same.
When the conditionally and unconditionally expected values of a discrete random variable would be different?
Discuss at least three reasons why these predictions may not be accurate and offer three ways in which you can increase the likelihood of accurately predicting your customers' purchases.
Find the probability of accepting a lot as a function of the actual fraction of defective chips. In particular, let the actual fraction of defective chips in a given lot equal any of 0.02, 0.04, 0.06, 0.08, 0.10, 0.12, 0.14, 0.16, 0.18. Then compu..
Overall, the amount of work-hours involved in the festival preperation is normally distributed around 100 hours withn a standard deviation of 12 hours.
What is the shape mean and standard deviation of the resulting distribution of the sample mean? What is the probability that the mean of the sample of 42 is more than 52 hours?
Calculate the expected value of this undertaking (make sure to take into account the thief's initial wealth).
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