Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months.   Month Labor Cost Visitors 1 $ 26,420 2,300 2 $ 37,134 3,507 3 $ 40,897 3,803 4 $ 32,383 3,006 5 $ 35,618 3,211 6 $ 33,432 2,951 7 $ 32,767 2,983 8 $ 39,225 3,621 9 $ 39,464 3,735 10 $ 48,023 4,832 11 $ 43,137 4,026 12 $ 39,937 3,794 13 $ 35,244 3,268 14 $ 33,944 3,161 15 $ 37,831 3,393 16 $ 27,116 2,840 17 $ 31,376 4,595 18 $ 30,657 3,769 19 $ 28,232 3,263 20 $ 30,700 4,022 21 $ 26,289 2,705 22 $ 25,228 2,428 23 $ 29,563 4,420 24 $ 30,854 5,165 25 $ 28,773 3,507 26 $ 32,426 4,429 27 $ 29,317 4,044 28 $ 30,622 4,126 29 $ 29,099 3,398 30 $ 28,522 2,808

A manufacturing firm produces its products in batches using sophisticated machines and equipment. The general manager wanted to investigate the relationship between direct labor costs and the number of units produced per batch. The recorded the data from the last 30 batches is below Batch Size Labor Cost Batch Size Labor Cost (5) 25 34 19 31 39 21 21 19 40 36 34 29 26 36 423 415 447 430 340 317 362 452 464 438 420 400 469 25 39. 25*8585& 29 31 21 36 39 29 41 35. 21 29 25 395 88888883 429 440 420 400 425 420 401 451 422 410 395 409 Determine the fixed and variable labor costs (Round your answers to the nearest cent) fixed cost 5 variable labor cost

Describe the results of your two graphs as they compare to the movement of demand. Be specific. Choosing between the three-period and the five-period forecasts, which length of averaging would you use as a purchasing manager of Greenfield’s Tannery? Be sure to factor in the cumulative forecast errors in your answer. Also, make sure you include some rationale about why you are picking the method you do for this particular business. So for example, does picking one method over the other have any impact on how much inventory they will have on hand to meet customer demand? What happens when the demand drops? Which method better supports that?

Twelve husbands were asked how much housework they completed last week and how many children were in the home. Use the following data to complete the questions in this section. Write out the linear model. Children Husband’s Housework   Children Husband’s Housework 2 4   4 6 1 1   1 3 3 0   3 5 5 4   2 3 1 5   2 1 5 7   4 3

Suppose that a furniture manufacturer makes chairs, sofas, and tables. Consider the following chart of labor hours required and available. Chair Sofa Table Daily labor available (labor- hours) 3 8 =III 1 2 6 0 The profit per chair is $50, per sofa $40, and per table $80. How many pieces of each type of furniture should be manufactured each day to maximize the profit? Carpentry Finishing Upholstery 6 1 2 720 144 228

Exercise 2. Use the final project data to complete the following questions. Collaborate with your project partners and produce the Excel outputs for the first analysis listed on the project guidelines below. Read and follow the instructions carefully. The Excel outputs such as tables, graphs, summary statistics produced by using Excel. All statistics should not have more than 2 decimal places. All Excel outputs (such as graphs and summary statistics) for each related analysis must be fitted in one sheet. 2. To analyze the total number of items purchased, construct an ungrouped frequency distribution, graph, and find the summary statistics by each type of customer (regular/promotion). Label the graphs completely. Describe the shape of the distribution for each type of customer and discuss similarities or differences by interpreting the graphs and summary statistics. What can you conclude? 3. To analyze customer age, construct a frequency distribution, graph, and find…

As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square foot as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $80 per square foot will be your population standard deviation when compiling your Q2 report.   Management has asked for the probability that your sample mean based on 64 stores is 1) within $15 and 2) within $5 of the population mean…

As a sales analyst for the shoe retailer Foot Locker, one of your responsibilities is measuring store productivity and then reporting your conclusion back to management. Foot Locker uses sales per square foot as a measure of store productivity. While preparing your report for the second quarter results (Q2), you are able to determine that annual sales for last year ran at a rate of $406 per square foot. Therefore, $406 per square foot will be your sales estimate for the population of all Foot Locker stores during Q2. For your Q2 Sales Report, you decide to take a random sample of 64 stores. Using annual data from last year, you are able to determine that the standard deviation for sales per square foot for all 3,400 stores was $80. Therefore $80 per square foot will be your population standard deviation when compiling your Q2 report.   You anticipate that management would be comfortable with a probability of 0.500 when offering your estimate of the sample mean. Using σ = $80…

An entrepreneur who owns and operates two businesses (A and B) would like to analyze their profitability. They would like your help in the analysis. They give you the annual net profit (in thousands of $) for each business from 2008-2020. Table 1: Annual Net Profits for Businesses A and B Business Year Profit Business Year Profit 2008 -50 2008 -10 2009 57 2009 30 2010 71 2010 27 2011 64 2011 22 2012 60 2012 21 2013 50 2013 20 A 2014 41 2014 24 2015 59 2015 24 2016 71 2016 32 2017 71 2017 36 2018 74 2018 37 019 81 20 40 2020 97 2020 49 a. Suppose you want to graph the distribution of profits. Explain why using only one stem- plot might not be optimal for the analysis. b. Describe the correct stemplot to use. Generate this stemplot. Explain your steps. What can you say about the distribution from this stemplot? c. When are stemplots useful? And why is that? d. Suppose that instead of having 26 observations you have 200 observations. What graph should you generate? e. What other type of…