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The Truly Canadian Restaurant stocks a private red table wine that it purchases from a local winery in the Niagara Falls region. The daily demand for the wine at the restaurant is normally distributed with a mean of 18 bottles and a standard deviation of 4 bottles. The winery sends a representative to check the restaurant's wine cellar every 30 days, and during a recent visit there were 25 bottles in stock. The lead time to receive an order is two days. Can you help the restaurant manager to determine the optimal order size that will enable him to limit the probability of a stockout to 5%?
Make a decision about the given claim. Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coi
f(x,y)=c(6-x-y) ,o find P(X+Y
Classification of Universe The universe may be classified either on the basis of number of units and on the basis of existence of units as is clear from the following chart :
Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan
Comparison of the Principal Averages-Mean, Median and Mode The mean, median, and mode are located at the same point in a symmetrical frequency distri
what do we mean by critical region
Coefficient of Determination The coefficient of determination is given by r 2 i.e., the square of the correlation coefficient. It explains to what extent the variation
Scenario: To fundraise for middle school camp the year 3 and 4 syndicate designed and produced chocolate treats to sell to the year 1 and 2, and year 5 and 6 students at morning te
Problem: A survey usually originates when an individual or an institution is confronted with an information need and the existing data are insufficient. Planning the questionn
The data used is from a statistical software Minitab; London.MPJ is the file that consists of 1519 households drawn from 1980 - 1982 British Family Expenditure Surveys. Data that i
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