The demand for the solar panels follows a normal distribution with u-17 and 8=2. Based on this information, 1. Develop a Monte Carlo Simulation model on MS Excel of this situation (send me a copy of the model.) 2. Based on one thousand iterations, should the manager change the inventory policy for the solar panels? (answer in the available space below.)
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- What does the y -intercept on the graph of a logistic equation correspond to for a population modeled by that equation?Suppose there are three fare classes in an airline fares p1 = $300, p2 = $200, and p3 = $100. You want to utilize the EMSR-b heuristic to calculate the protection level for classes 1 and 2 together. The demand distribution for class 1 is Normal with mean 50 and standard deviation 5. The demand distribution for class 2 is Normal with mean 75 and standard deviation 12. What is the price for the virtual class 1-2 under EMSR-b?Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours 18,850 4 5 6 7 8 9 10 11 12 18,590 17,480 19,240 21,280 19,630 19,240 18,850 18,460 20,670 17,550 18,460 Labor-Hours 15,605 15,484 16,727 15,990 17,508 17,376 15,297 14,373 16,001 17,002 14,285 17,651 Factory costs $ 3,395,671 3,425,836 3,617,844 3,573,940 3,812,984 3,778,012 3,532,426 3,369,802 3,513, 187 3,731,434 3,325,615 3,724,486 Required: Prepare a scatter graph based on the factory cost and labor-hour data. Note: 1.…
- Suppose an All Greens store in Sonoma, California, wants to estimate a range of advertising costs appropriate to its store. If it spends too little on advertising, it will not reach enough customers. However, it does not want to overspend on advertising for this type and size of store. At this store, x1 = 163, x2 = 2.4, x3 = 188, x5 = 6.6, and x6 = 10. Use these data to predict x4 (advertising costs) and find an 80% confidence interval for your prediction. (Use 2 decimal places.) prediction lower limit upper limit At the 80% confidence level, what range of advertising costs do you think is appropriate for this store? (Round to nearest integer.) lower limit $ upper limit $Turbid water is muddy or cloudy water. Sunlight is necessary for most life forms; thus turbid water is considered a threat to wetland ecosystems. Passive filtration systems are commonly used to reduce turbidity in wetlands. Suspended solids are measured in mg/l. Is there a relation between input and output turbidity for a passive filtration system and, if so, is it statistically significant? At a wetlands environment in Illinois, the inlet and outlet turbidity of a passive filtration system have been measured. A random sample of measurements are shown below. (Reference: EPA Wetland Case Studies.) Reading Inlet (mg/l) Outlet (mg/l) 3 4 5 6 7 8 9 10 11 12 31.6 86.9 87.0 12.0 45.4 43.3 32.3 77.7 71.7 85.9 64.9 80.1 3.3 14.2 16.8 5.7 4.6 6.2 3.4 7.7 8.0 7.4 8.7 14.3 Use a 1% level of significance to test the claim that there is a monotone relationship (either way) between the ranks of the inlet readings and outlet readings. (a) Rank-order the inlet readings using 1 as the largest data…Turbid water is muddy or cloudy water. Sunlight is necessary for most life forms; thus turbid water is considered a threat to wetland ecosystems. Passive filtration systems are commonly used to reduce turbidity in wetlands. Suspended solids are measured in mg/l. Is there a relation between input and output turbidity for a passive filtration system and, if so, is it statistically significant? At a wetlands environment in Illinois, the inlet and outlet turbidity of a passive filtration system have been measured. A random sample of measurements are shown below. (Reference: EPA Wetland Case Studies.) Reading 1 2 3 4 5 6 7 8 9 10 11 12 Inlet (mg/l) 59.1 25.7 70.5 71.0 37.6 43.5 13.1 24.2 16.7 49.1 67.6 31.7 Outlet (mg/l) 18.2 14.3 15.3 17.5 13.1 8.0 4.1 4.4 4.3 5.8 16.3 7.1 Use a 1% level of significance to test the claim that there is a monotone relationship (either way) between the ranks of the inlet readings and outlet readings. (a) Rank-order the inlet readings using 1 as…
- Turbid water is muddy or cloudy water. Sunlight is necessary for most life forms; thus turbid water is considered a threat to wetland ecosystems. Passive filtration systems are commonly used to reduce turbidity in wetlands. Suspended solids are measured in mg/l. Is there a relation between input and output turbidity for a passive filtration system and, if so, is it statistically significant? At a wetlands environment in Illinois, the inlet and outlet turbidity of a passive filtration system have been measured. A random sample of measurements are shown below. (Reference: EPA Wetland Case Studies.) Use a 1% level of significance to test the claim that there is a monotone relationship (either way) between the ranks of the inlet readings and outlet readings. (a) Rank-order the inlet readings using 1 as the largest data value. Also rank-order the outlet readings using 1 as the largest data value. Then construct a table of ranks to be used for a Spearman rank correlation test. (c) Compute…Turbid water is muddy or cloudy water. Sunlight is necessary for most life forms; thus turbid water is considered a threat to wetland ecosystems. Passive filtration systems are commonly used to reduce turbidity in wetlands. Suspended solids are measured in mg/l. Is there a relation between input and output turbidity for a passive filtration system and, if so, is it statistically significant? At a wetlands environment in Illinois, the inlet and outlet turbidity of a passive filtration system have been measured. A random sample of measurements are shown below. (Reference: EPA Wetland Case Studies.) Reading 1 2 3 4 5 6 7 8 9 10 11 12 Inlet (mg/l) 62.1 13.8 63.5 30.6 91.1 11.5 67.2 75.6 79.3 29.5 72.9 21.3 Outlet (mg/l) 11.3 2.7 7.5 12.3 12.9 3.8 13.3 13.2 15.1 6.0 7.0 4.7 Use a 1% level of significance to test the claim that there is a monotone relationship (either way) between the ranks of the inlet readings and outlet readings. (a) Rank-order the inlet readings using 1 as…During the days of coronavirus, people work most of the time from home. Many offices, schools, universities conduct their works, meetings, classes online. As a result of this new normal, it is assumed that on average, utility expenses per family (electricity, water, gas etc.) increases by 40% per month. For the verification of this assumption, four months data of percentage change of utility expenses of 10 families of similar size is given below and answer the following questions, the data is normally distributed:Percentage change of utility expensesApril 33.65 37.09 29.72 33.42 38.14 34.9 37.35 38.66 22.92 34.19May 37.19 36.61 40.35 28.19 35.19 37.43 38.03 42.99 30.22 38.8June 37.13 36.2 43.6 35.31 33.66 28.51 37.67 20.68 38.04 38.43July 38.84 32.17 34.9 30.17 29.63 27.14 32.17 33.46 36.72 39.64 1.Write tabulated value of test statistic at 0.05 level of significance ( 2 tail)2.What will be the 95% confidence interval for the average percentage change of utility expenses on the basis…
