a.Find the expected value of the number of tests taken. b.Compute the variance and the standard deviation of the number of tests taken.
Q: The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation…
A: Note, Since you have posted multiple subparts in the same questions, we will be answering the first…
Q: The sales of a magazine in a stall for the previous 10 months are given below. Month 1 2 3 4 5678 9…
A: Forecasting is the process of estimating the future demand of sales using previous or historic…
Q: In year 2010, a saop manufacturer forecasts that demand of 2011 will be 200 lakhs of units of saop.…
A: Forecasting is a process that uses historical data as inputs to make informed estimates that are…
Q: A manufacturer of programmable calculators is attempting to determine a reasonable free-service…
A: a) Given Information: Time (T) = 30 months Mean time between failures (MTBF) = 30 months Following…
Q: The standard error of the estimate is the....... standard deviation of t. square root of MSE.…
A: The standard error of the estimate is the measure of the (error) variation of an investigation…
Q: The pendulum of a clock consists of a mass of 0.20 kg hanging from a thin rod. The amplitude of the…
A: It quantifies the separation from the pivot of turn to the focal point of gravity of the pendulum,…
Q: Ten weeks of data on the Commodity Futures Index are:7.35 7.40 7.55 7.56 7.60 7.52 7.52 7.70 7.62…
A: Ten weeks of data on the Commodity Futures Index are:7.35 7.40 7.55 7.56 7.60 7.52 7.52 7.70 7.62…
Q: Directions: For each of the following situations: a. indentify the independent variable/s b. name…
A: A variable in a study is described as the phenomenon, thing, place, or person that is measured in a…
Q: The manager is at risk of making what type of error?
A: In the given case, the current manufacturing line work for 8 hours a day, and the rework time has to…
Q: Assuming the mean height of students in an exactly normal distribution to be 68.22 inches and…
A: All normal distributions can be converted into the standard normal curve by subtracting the mean and…
Q: Given the following panel data model Y#= Bo + B1X +a, + u %3D which of the followings is(are)…
A: Given the following panel data model:
Q: snip
A: Given that; Demand 4 week ago = 25 3 week ago = 36 2 week ago = 33 Last week = 28 α = 0.3
Q: The state of California has a mean annual rainfall of 22 inches, whereas the states of New York has…
A:
Q: Bill Hardgrave, production foreman for the Virginia Fruit Company, estimates that the average sales…
A: Standard deviation refers to the technique used to measure the variation of a set of values. The…
Q: There is a contractual provision between an automotive parts company and a supplier of the company…
A: There are principally 2 tables. The primary one signifies which ‘code letter’ to custom. Then, the…
Q: Given the attached data. Answer the following questions for a 7 period moving average. t At 1 5477…
A: The moving average method is a simple forecasting technique which is extensively used by forecasters…
Q: All patients admitted to a particular hospital can be released on the same day or kept overnight for…
A: a) Total sample size = total number of patients =n=2550
Q: 4. A credit rating company recommends granting of credit cards based on several criteria. One is…
A: The probability value for Z (-1.4583), according to the cumulative probability table, the…
Q: A manager is simulating the number of times a machine operator stops a machine to make adjustments.…
A: Simulating: Simulating is a technique where different data tests are run through and conclusions are…
Q: Six per cent, on average, of manufactured spindles are outside stated tolerances. The spindles are…
A: SOLUTION: Mean number of defectives in a box : 50 . NP = 50×0.06 = 3 X~Poisson3
Q: f you can can you show me in Excel? That is my question for 25 students Below you are given the…
A: Given information, Student Score 1 52 2 99 3 83 4 82 5 84 6 23 7 25 8 76 9 90…
Q: Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local…
A: Formulas for weighted average forecasting- 3-week weighted moving average forecast…
Q: Based on a sample of 80 recent MBA graduates (40 male and 40 female), the following information was…
A: a) Mean Salary within 10,000 means within 40000/4 = σ/4 = 0.25σ Lets assume the Standard normal…
Q: What does the accuracy rate indicate?
A: THE ANSWER IS AS BELOW:
Q: In a process of filling soda bottles 8% of the total is not completely filled, a potential buyer of…
A: The proportion of a population that represents the whole population is referred to as a sample size.…
Q: A family of mutual funds maintains a service that allows clients to switch money among accounts…
A:
Q: Mr. Rashid is a farmer. He grows a variety of vegetables. He also runs a vegetable shop where he…
A: Farmer- The term farmer refers to the person who mainly deals with cultivation of crops. Retailer –…
Q: Elon Corporation manufactures parts for an aircraft com-pany. It uses a computerized numerical…
A: It is expected that the given tolerance of 0.024 inches. - nominal target. [ presuming that there…
Q: A company that makes kitchen chairs wants to compareproductivity at two of its facilities. At…
A: Given- Facility #1 Total chairs produced by 6 workers = 240; Facility #2 Total chairs produced by 4…
Q: Explain or define each of these terms:a. Laplace criterionb. Minimax regretc. Expected valued.…
A: Definition of the following terms is:
Q: (c) Based on what we know about Observation B, if the cutoff value is lowered to 0.2, what happens…
A:
Q: Figure shows summer air visibility measurements for Denver, Colorado. The acceptable visibility…
A: There is no trend in the data. The naïve forecast method, exponential smoothing or the simple moving…
Q: A manager is simulating the number of times a machine operator stops a machine to make adjustments.…
A: ANSWER : No. of stops Prob CumProb RN Ranges 1 0.20 0.20 00 - 19 2 0.20 0.40 20 - 39 3 0.20…
Q: Rajan wanted a radio from Jacky's. It appears that Rajan is particularly interested in purchasing a…
A: The utilitarian perspective refers to the approach where those activities are done that generate…
Q: Mike Thatcher is a sales manager for an automobile dealership in Alberta. Mike earns a bonus each…
A: 1. Yes, Mike Thatcher faces an ethical dilemma as a result of the warranty accrual decision because…
Q: Which control chart is appropriate to analyze the above data? Justify your answer
A: A control chart is a statistical tool which will helps to study whether process in control or not.…
Q: The director of research and development is testing a new drug. She wants to know if there is…
A: H0 : = 363
Q: A sample of 150 is drawn from a population with a proportion equal to 0.42. a. Determine the…
A: Probability and measurements are firmly connected on the grounds that factual information is often…
Q: South Africa Airways would like to monitor its airline’s performance. Each week for the past 20…
A: This question is related to the topic-quality control and this topic falls under business-operations…
Q: Jay has recently discovered a new wine from the Piedmont region of Italy with the following…
A: The average characteristics of a wine in all cluster is provided. Characteristics New Wine…
Q: Using traditional methods, it takes 101 hours to receive a basic driving license. A new license…
A: The detailed solution to the question is given in Step 2.
Q: A new fly spray is applied to 50 samples each of 5 flies and the number of living flies counted…
A: (b) (i) 0 7 0 1 20 20 2 12 24 3 9 27 4 1 4 5 1…
Q: Analyze this data using an appropriate control chart
A: P-chart is a type of control chart which using nonconforming samples and its proportions. It is the…
Q: An equipment which costs $15000 has to be replaced with a new equipment. The follovg data have been…
A: Find the given details below: Given details: Year Resale Value Annual maintenance cost 1…
Q: Weekly Attendance UCL 1132 1060 1112 963 975 1010 925 1043 950 963 980 968 895 LCL 1 2 10 11 12 13…
A: X-bar chart is a variable control chart that focuses on how the mean or averages change over time.…
Q: What are the population means for the mean and the range? What are the upper and lower control…
A: Population mean for mean (x-double bar): = Average of Sample averages = (15.5 + 12.3 + 8.8 + 10.3 +…
Q: In order to predict pancakes, John's House of Pancakes uses a weighted moveable average process. It…
A: Given that; Weight for July = 5 Weight for June = 3 Weight for May = 1 Revenue in May = 1000…
Q: The coefficient of determination...... which? can be negative or positive. is the square root of…
A: The coefficient of determination......which? can be negative or positive. is the square root of the…
- A calculus instructor uses computer-aided instruction and allows students to take the midterm exam as many times as needed until a passing grade is obtained. Following is a record of the number of students in a class of 50 who took the test each number of times.
Students |
Number of Tests |
22 |
1 |
15 |
2 |
8 |
3 |
5 |
4 |
a.Find the expected value of the number of tests taken.
b.Compute the variance and the standard deviation of the number of tests taken.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Use Excels functions (not @RISK) to generate 1000 random numbers from a normal distribution with mean 100 and standard deviation 10. Then freeze these random numbers. a. Calculate the mean and standard deviation of these random numbers. Are they approximately what you would expect? b. What fraction of these random numbers are within k standard deviations of the mean? Answer for k = 1; for k = 2; for k = 3. Are the answers close to what they should be (about 68% for k = 1, about 95% for k = 2, and over 99% for k = 3)? c. Create a histogram of the random numbers using about 10 bins of your choice. Does this histogram have approximately the shape you would expect?The management of a technology company is trying to determine the variable that best explains the variation of employee salaries using a sample of 52 full-time employees; see the file P13_08.xlsx. Estimate simple linear regression equations to identify which of the following has the strongest linear relationship with annual salary: the employees gender, age, number of years of relevant work experience prior to employment at the company, number of years of employment at the company, or number of years of post secondary education. Provide support for your conclusion.Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.
- Based on Babich (1992). Suppose that each week each of 300 families buys a gallon of orange juice from company A, B, or C. Let pA denote the probability that a gallon produced by company A is of unsatisfactory quality, and define pB and pC similarly for companies B and C. If the last gallon of juice purchased by a family is satisfactory, the next week they will purchase a gallon of juice from the same company. If the last gallon of juice purchased by a family is not satisfactory, the family will purchase a gallon from a competitor. Consider a week in which A families have purchased juice A, B families have purchased juice B, and C families have purchased juice C. Assume that families that switch brands during a period are allocated to the remaining brands in a manner that is proportional to the current market shares of the other brands. For example, if a customer switches from brand A, there is probability B/(B + C) that he will switch to brand B and probability C/(B + C) that he will switch to brand C. Suppose that the market is currently divided equally: 10,000 families for each of the three brands. a. After a year, what will the market share for each firm be? Assume pA = 0.10, pB = 0.15, and pC = 0.20. (Hint: You will need to use the RISKBINOMLAL function to see how many people switch from A and then use the RISKBENOMIAL function again to see how many switch from A to B and from A to C. However, if your model requires more RISKBINOMIAL functions than the number allowed in the academic version of @RISK, remember that you can instead use the BENOM.INV (or the old CRITBENOM) function to generate binomially distributed random numbers. This takes the form =BINOM.INV (ntrials, psuccess, RAND()).) b. Suppose a 1% increase in market share is worth 10,000 per week to company A. Company A believes that for a cost of 1 million per year it can cut the percentage of unsatisfactory juice cartons in half. Is this worthwhile? (Use the same values of pA, pB, and pC as in part a.)The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Let’s suppose that you have a set of time-series variables, and you want to model the relationship between them. Read the situations given below and answer the questions. (200 words)a) Explain the statistical test if the linear combination (of time-series variables) is I(0).b) Which statistical test can be applied if all the series are integrated of the same order I(1). Justify your answer
- A manufacturer of programmable calculators is attempting to determine a reasonable free-service period for a model it will introduce shortly. The manager of product testing has indicated that the calculators have an expected life of 30 months. Assume product life can be described by an exponential distribution. T / MTBF e-T /MTBF T / MTBF e-T /MTBF T / MTBF e-T /MTBF 0.10 0.9048 2.60 0.0743 5.10 0.0061 0.20 0.8187 2.70 0.0672 5.20 0.0055 0.30 0.7408 2.80 0.0608 5.30 0.0050 0.40 0.6703 2.90 0.0550 5.40 0.0045 0.50 0.6065 3.00 0.0498 5.50 0.0041 0.60 0.5488 3.10 0.0450 5.60 0.0037 0.70 0.4966 3.20 0.0408 5.70 0.0033 0.80 0.4493 3.30 0.0369 5.80 0.0030 0.90 0.4066 3.40 0.0334 5.90 0.0027 1.00 0.3679 3.50 0.0302 6.00 0.0025 1.10 0.3329 3.60 0.0273 6.10 0.0022 1.20 0.3012 3.70 0.0247 6.20 0.0020 1.30 0.2725 3.80 0.0224 6.30 0.0018 1.40 0.2466 3.90 0.0202 6.40 0.0017 1.50 0.2231 4.00 0.0183 6.50 0.0015 1.60 0.2019 4.10 0.0166 6.60 0.0014 1.70 0.1827 4.20…A firm has modeled its experience with industrial accidents and found that the number of accidents per year is related to the number of employees by the regression equation Y = 6.6 + 0.098*X. R-Square is 0.72. The regression is based on 20 annual observations. The firm intends to employ 480 workers next year. How many accidents do you project? 47.04 accidents 8.66 accidents 53.64 accidents 72% of the 480 workers 28.56 accidentsBill Hardgrave, production foreman for the Virginia Fruit Company, estimates that the average sales of oranges is 4,700 and the standard deviation is 500 oranges. Sales follow a normal distribution.a) What is the probability that sales will be greater than 5,500 oranges?b) What is the probability that sales will be greater than 4,500 oranges?c) What is the probability that sales will be less than 4,900 oranges?d) What is the probability that sales will be less than 4,300 oranges?
- A family of mutual funds maintains a service that allows clients to switch money among accounts through a telephone call. It was estimated that 3.2% of callers either get a busy signal or are kept on hold so long that they may hang up. Fund management assesses any failure of this sort as a $10 goodwill loss. Suppose that 2,000 calls are attempted over a particular period. a. Find the mean and standard deviation of the number of callers who will either get a busy signal or may hang up after being kept on hold. b. Find the mean and standard deviation of the total goodwill loss to the mutual fund company from these 2,000 calls.A carpenter is making doors that are 2058 millimeters tall. If the doors are too long they must be trimmed, and if they are too short they cannot be used. A sample of 13 doors is made, and it is found that they have a mean of 2043 millimeters with a variance of 1024. Is there evidence at the 0.025 level that the doors are too short and unusable? State the null and alternative hypotheses for the above scenario.The mean annual earning for U.S. workers with advanced degrees is $80,977 with a standard deviation of $100,895; the distribution is highly right-skewed. Use this information to answer questions 7 to 10 below. A random sample of n = 86 workers is drawn, and their annual earnings recorded. What is the expected value of the sample mean of their annual earnings? What is the standard deviation of the sample mean of their annual earnings? what is the probability that the sample mean is at least $100,000? The actual sample mean earnings for the random sample of 86 workers with advanced degrees was $82,105. What is the sampling error?