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- Given a normal distribution with μ= 105 and σ = 20, and given you select a sample of n = 16, complete parts (a) through (d). a. What is the probability that X is less than 92? P(X<92) 0.0047 (Type an integer or decimal rounded to four decimal places as needed.) b. What is the probability that X is between 92 and 93.5? P(92 X 93.5)= 0.0061 (Type an integer or decimal rounded to four decimal places as needed.) c. What is the probability that X is above 105.2? P(X 105.2)= 0.4840 (Type an integer or decimal rounded to four decimal places as needed.) d. There is a 67% chance that X is above what value? X = (Type an integer or decimal rounded to two decimal places as needed.)When will you use scatter diagram?a. For 2 variables that have relationshipb. For 2 variables that have no relationshipc. For data that are inversely proportionald. For data that are directly proportionale. None of the aboveThe 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?
- 4.1 TYPES OF RANDOM VARIABLES. Which of the following describe continuous random variables? Which describe discrete random variables? The number of newspapers sold by the New York Times each month The amount of ink used in printing a Sunday edition of the New York Times The actual number of ounces in a 1-gallon bottle of laundry detergent The number of defective parts in a shipment of nuts and bolts The number of people collecting unemployment insurance each monthWhich one of the following methods eliminates short term and random fluctuations in a time series? a. Moving Average b. Semi-Average c. Neither moving average nor semi average d. Both moving average and semi-averageMr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local community. Customers love the quality of meet that Mr. Ferdinand sells so they tend to recommend his product to other persons. Recently, Mr. Ferdinand has been running out of beef to sell to his customers. One customer suggests to him that he must use past sales records to forecast demand for his beef so that he can meet his customers demand. Using a numerical example, demonstrate to Mr. Ferdinand how he can use a three week and a four-week weighted moving average to forecast demand for his beef. Show how Mr. Ferdinand can test the accuracy of his forecast. Explain to Mr. Ferdinand two ways in which he can benefit from doing forecast for his beef.
- Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the localcommunity. Customers love the quality of meet that Mr. Ferdinand sells so they tend torecommend his product to other persons. Recently, Mr. Ferdinand has been running out of beefto sell to his customers. One customer suggests to him that he must use past sales records toforecast demand for his beef so that he can meet his customers demand.I. Using a numerical example, demonstrate to Mr. Ferdinand how he can use a threeweek and a four-week weighted moving average to forecast demand for his beef.II. Show how Mr. Ferdinand can test the accuracy of his forecast. III. Explain to Mr. Ferdinand two ways in which he can benefit from doing forecast forhis beef.Forecast error is measured using the following formula. O a. Actual value = Forecast value O b. Forecast value = Actual value O C. Actual value - Forecast value o d. Forecast value - Actual valueThe time to deliver packaged containers by a logistics company is found fromsamples of size 4. The mean and standard deviation of delivery times is estimated tobe 140 hours and 6 hours, respectively.(a) Find the 2 sigma and 3 sigma control limits for the average delivery time.(b) Explain a type I and type II error specifically in this context.(c) If the mean delivery time shifts to 145 hours, what is the probability of notdetecting this by the second sample after the shift?(d) What is the ARL? Explain
- Subpart A : Moving constant = 0.30STAR Co. provides paper to smaller companies with volumes that are not large enough to warrant dealing directly with the paper mill. STAR receives 100-feet-wide paper rolls from the mill and cuts the rolls into smaller rolls of widths 12, 15, and 30 feet. The demands for these widths vary from week to week. The following cutting patterns have been established. Pattern Number 12‐ft 15‐ft 30‐ft Trim Loss (ft) 1 0 6 0 10 2 0 0 3 10 3 8 0 0 4 4 3 0 2 4 5 7 1 0 1 Trim loss is the leftover paper from a pattern (e.g., for pattern 4, 3(12) + 0(15) + 2(30) = 96 feet used results in 100 − 96 = 4 foot of trim loss). Orders in hand for the coming week are 5,680 12-foot rolls, 1,670 15-foot rolls, and 3,340 30-foot rolls. Any of the three types of rolls produced in excess of the orders in hand will be sold on the open market at the selling price. No inventory is held. (a) Formulate an integer programming model that will determine how many 100-foot rolls to cut into each of the…Tucson Machinery, Inc., manufactures numerically controlled machines (NCM), which sell for an average price of $12 million each. Sales for these NCMs for the past two years were as follows: Quantity (units) Quantity (units) Quarter Last year ||| III IV 12 18 20 24 Quarter This year | || ||| IV 20 24 28 32 Find the equation of a simple linear regression line using Excel, in the format of Y=a+bX. Keep two decimals of a and b. Forecast the first quarter sales for next year. Keep two decimals.