Concept explainers
Winter’s method (with a 0.2, b 0.1, and g 0.5)
is being used to forecast the number of customers served
each day by Last National Bank. The bank is open Monday
through Friday. At present, the following seasonalities have
been estimated: Monday, 0.80; Tuesday, 0.90; Wednesday,
0.95; Thursday, 1.10; Friday, 1.25. A seasonality of 0.80 for
Monday means that on a Monday, the number of customers
served by the bank tends to be 80% of average. Currently,
the base is estimated to be 20 customers, and the trend is
estimated to equal 1 customer. After observing that on
Monday 30 customers are served by the bank, predict the
number of customers to be served by the bank on Wednesday.
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 6 images
- If actual period demand varies from the forecast by more than 3MAD, this indicates: there is 3% chance that the forecast is wrong. there is a 98% chance that the forecast is wrong. there is a 97% chance that the forecast is wrong. there is a 3% chance that the forecast is correct Moving to the next question prevents changes to this answer:arrow_forwardPreviously, De Anza's statistics students estimated that the amount of change daytime statistics students carry is exponentially distributed with a mean of $0.88. Suppose that we randomly pick 25 daytime statistics students. Find the probability that an individual had between $0.80 and $1.00. Graph the situation, and shade in the area to be determined.arrow_forwardSuppose that the length of long distance phone calls, measured in minutes, is known to have an exponential distribution with the average length of a call equal to $24 minutes. The 16th percentile is a phone call that lasts minutes.arrow_forward
- In a certain year, it was estimated that 1,000,000 of the 307,000,000 residents of the United States are HIV-positive. (HIV is the virus that is believed to cause AIDS.) The Repeatedly Reactive Immunoassay (RRIA) diagnostic test correctly diagnoses the presence of AIDS/HIV 99.7% of the time and correctly diagnoses its absence 98.5% of the time. (Round your answers to four decimal places.) (a) Find the probability that a person whose test results are positive actually has HIV.(b) Find the probability that a person whose test results are negative does not have HIV.(c) Find the probability that a person whose test results are positive does not have HIV.(d) Find the probability that a person whose test results are negative actually has HIV.(e) Which of the probabilities would you be interested in if you or someone close to you tested positive? the probability that a person whose test results are positive actually has HIVthe probability that a person whose test results are negative does not…arrow_forwardThe Transylvania hypothesis claims that the full moon has an effect on health-related behavior. A study investigating this effect found a significant relationship between the phase of the moon and the (x-4) + 100 where y is the number of consultations as a percentage of the daily mean and x is the days since the last full 15.12 number of general practice consultations nationwide, given by y = 1.9 cos moon. a. What is the period of this function? What is the significance of this period? The period is days. (Round to two decimal places as needed.) Choose the correct meaning of the period p in the context of the problem. The x-distance between the maximum and the minimum of the graph is p. Every p days there is a full moon. There were p% more consultations when there was a full moon. The average number of daily consultations is p. b. If there was a full moon on April 7, on what day in April does this formula predict the maximum number of consultations? What percent increase would be…arrow_forwardkln 2.18 The report "Trends in Education 2010: Community Colleges" (www.collegeboard.com/trends) included the accompanying information on student debt for students graduating with an AA degree from a public community college in 2008. Debt Relative Frequency None 0.62 Less than $10,000 0.23 Between $10,000 and $20,000 0.10 More than $20,000 0.05 a. Use the given information to construct a bar chart. b. Comment on student debt for public community college graduates.arrow_forward
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman