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The Mayfair Department Store in Davenport, Iowa is trying to determine the amount of sales lost while it was shut down during July and August because of damage caused by the Mississippi River flood. Sales data for January through June follow.
Sales ($1000s)
January 185.72February 167.84March 205.11April 210.36May 255.57June 261.19
a. Use exponential smoothing, with a = .4, to develop a forecast for July and August. (Hint: Use the forecast for July as the actual sales in July in developing the August forecast.) Comment on the use of exponential smoothing for forecasts more than one period into the future.
b. Use trend projection to forecast sales for July and August.
c. Mayfair's insurance company proposed a settlement based on lost sales of $240,000 in July and August. Is this amount fair? If not, what amount would you recommend as a counteroffer?
Based on the information about typical use, what is the probability that at least 25 of these women become pregnant in the next year? Is the Normal approximation permissible?
Overall, 230 people correctly guess which is the low calorie product. Is there evidence of a difference in taste between the two products?
The average weight is 215 pounds and the standard deviation is 15 pounds. Approximately how many players had weights between 215 and 225 pounds?
The planned shortage inventory model recommends order quantity Q* = 70 and shortage level S = 18. Which of the following statement is incorrect?
The GMAT scores of MBA students is assumed to be distributed normally with a mean of 530 and a standard deviation of 80. The GMAT scores of ten students are selected randomly.
Test the hypothesis. Will you reject or not reject the null hypothesis at α = 0.05
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Calculate the suitable mean response time from both proposed locations and find out which proposed site must be selected for the new emergency facility.
In fiscal 1996, the U.S. Agency for International Development provided 238,300 metric tons of corn soy blend (CSB) for development programs and emergency relief in countries throughout the world.
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