Solve for the following: Expressed final answers in 4-decimal places. Compute for the coefficient of determination and interpret its meaning.
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Solve for the following: Expressed final answers in 4-decimal places.
Compute for the coefficient of determination and interpret its meaning.
Step by step
Solved in 2 steps with 3 images
- Airphone, Inc., manufactures cellular telephones at a pro-cessing cost of $47 per unit. The company produces an average of 250 phones per week and has a yield of 87%good-quality phones, resulting in 13% defective phones,all of which can be reworked. The cost of reworking adefective telephone is $16.a. Compute the quality-productivity ratio (QPR).b. Compute the QPR if the company increased theproduction rate to 320 phones per week while reducingthe processing cost to $42, reducing the rework cost to$12, and increasing the product yield of good-qualitytelephones to 94%.A manufacturing firm, Caleb Corp, produces and sells product in its home (US) market, and in a foreign market. There is inherent risk in the revenues collected from the foreign market due to volatility in the exchange rate. Under a benchmark strategy, all of the production takes place in the home country. The resulting expected profits for Caleb Corp are variable, due to variation in the exchange rate. As an approximation, the firm has estimated profits for five possible ranges of the exchange rate, with profit represented as a lottery, L= (.2, 150; .2, 200; .3, 220; .2,250; .1, 270) The probabilities are estimated probabilities for the different ranges. The outcomes in this lottery are the estimated final profit levels (not changes in profit). (a) Calculate the expected profit if the firm follows this benchmark strategy, i.e., E(L)A manufacturing firm, Caleb Corp, produces and sells product in its home (US) market, and in a foreign market. There is inherent risk in the revenues collected from the foreign market due to volatility in the exchange rate. Under a benchmark strategy, all of the production takes place in the home country. The resulting expected profits for Caleb Corp are variable, due to variation in the exchange rate. As an approximation, the firm has estimated profits for five possible ranges of the exchange rate, with profit represented as a lottery, L= (.2, 150; .2, 200; .3, 220; .2,250; .1, 270) The probabilities are estimated probabilities for the different ranges. The outcomes in this lottery are the estimated final profit levels (not changes in profit). Now suppose the firm can also buy forward contracts on foreign currency to neutralize the effect of the exchange rate on profits. Assume that these provide complete hedging, but that it involves an additional cost, so that following the…
- Weekly downtime of internet services from an internet service provider (in hours) has expected value 0.5 and variance 0.25. Based on past experience, the data scientist of a retailer store has calculated the loss function to the store from the downtime as C=30X+2X2 where X is the amount of weekly downtime and C is cost. Find the Expected cost, i.e, E(C).a. Compute the incidence rate of coronary artery disease in patients receiving the new cholesterol medication. b. Compute the incidence rate of coronary artery disease in patients receiving a placebo. attached is the image of the data for this problemThe chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form AVC = a + bQ + cQ2 where AVC = dollars per vacuum cleaner and Q = number of vacuum cleaners produced each month. Total fixed cost each month is $180,000. The following results were obtained: a) Are the estimates ˆa ,ˆb , and cˆ statistically significant at the 2 percent level of significance? Which is/are significant and which is/are not? b) Do the results indicate that the average variable cost curve is ∪-shaped? How do you know?c) If Argus Corporation produces 8,000 vacuum cleaners per month, what is the estimated average variable cost? Marginal cost? Total variable cost? Total cost? d) Answer part c, assuming that Argus produces 10,000 vacuum cleaners monthly. e) at what level of output will average variable cost be at a minimum? What is the minimum average variable cost?
- As baby boomers enter their golden years, the number of people afflicted with Alzheimer's disease is expected to rise dramatically. In a study published in the Journal of Neurology, the number of people with Alzheimer's disease in the United States age 65 years and over is projected to be N(t) = 0.00525t2 + 0.075t + 4.7 (0 ≤ t ≤ 4) million in decade t, where t = 0 corresponds to 2010.† (a)What is the projected number of people with Alzheimer's disease in the United States age 65 years and over in 2040? (Round your answer to four decimal places.) million (b) How fast is the number of people with Alzheimer's disease in the United States age 65 years and over projected to grow in 2040? million per decade (c)How fast is the rate of growth of people with Alzheimer's disease in the United States age 65 years and over projected to change in the period covered by the study? million per decade per decadeThe Monthly demand for unit manufactured by the ABC Company has been as follows: Units 250 290 240 280 300 270 290 Month January February March April May June July a.use a four-week weighted moving average to forecast the units of month august by using weights of 40%, 30%, 20% & 10% respectively. b. use exponential smoothing with α=0.3 to forecast the units of month august. c. calculate the mad & mse (use exponential smoothing method).One of the more challenging problems confronting the water pollution control field is presentedby the tanning industry. Tannery wastes are chemically complex. They are characterized by highvalues of biochemical oxygen demand, volatile solids, and other pollution measures. A studyconducted by Virginia Polytechnic Institute and State University measured the percent reductionin total solids (x) and percent reduction in chemical oxygen demand (y) of 33 samples ofchemically treated waste.a. Compute the value of Sxx, Syy, Sxy, and r.b. Determine the regression line model/equation.c. Determine the coefficient of determination r 2 Explain the meaning of this quantity in the context ofthis problem.d. Using α = 0.01, test H0 : β1 = 0 vs. H1 : β1 6= 0e. Imagine that the next solid reduction level is at 54%. what would be your best estimate of the oxygendemand reduction?Note: Answer d and e only, manually