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Your company operates a machine shop, and, having heard you had experience in statistics and design of experiments, consulted you for your opinion on an experiment they want to run
Variation Coefficient The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of variation. Thi
Probability 3DP, a Luxembourg-based company plans to develop and sell highly specialized 3D printers. The cost of product development is estimated at EUR 50,000.-, irrespective
Two blocks with masses and hang one under the other. For this problem, take the positive direction to be upward, and use for the magnitude of the acceleration due to gravity. Fi
what are the funtions of quantitative techniques
Singer & Mcmann are partners in business. Singer''s original capital was $40,000 and Mcmann''s was $60.000. They agree to salaries of $12,000 and $18,00 respectively and 10% inte
A machine that cuts corks for wine bottles operates in such a way that the distribution of the diameter of the corks produced is well approximated by a normal distribution with mea
'Statistics is the backbone of decision-making'. Comment.
For our class homework we prepared a 3-month forecast for sales (12 months with actual sales for each month). What or how do we figure the absolute deviation of the 3-month foreast
Distinguish between Cost unit and cost centre
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