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4. Suzie's Sweatshirts is a home-based company that makes upscale, hand painted sweatshirts for children. Forecasts of sales for the next year are Autumn: 125 Winter: 350 Spring: 75 Each Shirt is sold for $15. The holding cost per shirt is 6% of the selling price per quarter. The shirts are painted by part-time workers who earn $4.50 per hour during the autumn. Because of the high demand for part-time help during the winter holiday season, labor rates are higher in the winter, and Suzie must pay the workers $6.00 per hour. In the spring, labor is more difficult to keep, and Suzie finds that she must pay $5.50 per hour to get qualified help. Each shirt takes 1.5 hours to complete. Formulate the problem to a LP model to help Suzie plan production over the three quarters to minimize the combined production and inventory holding cost. Suppose there is no inventory at the beginning of the autumn.(Note: You do not need to solve the model.)
Calculate the standard deviation of the number of available rooms in that sample. Use the central limit theorem to calculate and identify the sampling distribution of the sample mean.
Calculate, test, and interpret the relationship between two variables using the correlation coefficient.
A sample of 46 homes in a subdivision revealed that 20 were ranch style (as opposed to colonial, tri-level, or Cape Cod). Construct a 98 percent confidence interval for the true proportion of ranch style homes.
CHris Turlock owns and manages a small business in San Francisco, California. The business provides breakfast and brunch food, via carts parked along sidewalks, to people in the business district of the city.
Body mass index is measured as the ratio of weight in kilograms to height in meters squared. Generate a 95% confidence interval estimate of the true BMI.
According to an early CDC study of 21 patients infected with the swine flu, the average incubation period was 7 days with a sample standard deviation of 4.5 days.
An analyst working at BC Statistics is compiling a report on the use of the internet at home. In 1997, 250 randomly selected people were asked about the average amount of time spent on the internet per week.
Suppose you want to sell your house and you have decided to accept the first offer exceeding M dollars, say. Assume that the offers are i.i.d. with common distribution F. Find the expected number of offers received before selling the house.
When finding percentiles, if locator L is not whole number, one procedure is to interpolate so that locator of 23.75, for instance.
There is no proof the new policy is more effective, but we cannot finish the policy has no effect on smog. Interpretation of P-value for the given context.
Can we conclude at the 5% significance level that the population mean weight of athletic men is lower than the population mean weight of non-athletic men?
Develop a stem-and-leaf chart. Summarize the number of times each ATM was used. What was the typical, minimum, and maximum number of times each ATM was used?
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