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Central Tendency

Exponential Smoothing and Moving average technique

1. Given the following data on hotel check-ins for a 6-month period: July: 45 rooms August: 36 rooms September: 52 rooms October: 48 rooms November: 56 rooms December: 60 rooms With alpha = 0.2 and beta = 0.1, what is the adjusted exponentially smoothed forecast for September? Put your answer in the form xx.xx with no

Trying to calculate expected revenue and variance of the revenue

Suppose that a company produces three different products. The sales for each product are independent of the sales for the others. Product Price Expected Unit sales Variance of Unit Sales A $3.50 2000 1000 B $2.00 10000 6400 C $1.87 8500 1150 1. What are the expected r

Calculating EVPI based on a decision tree

I'm absolutely lost on how to figure out EVPI using a decision tree. I've attached the decision trees for two items (labeled figure 12.11, 12.12) and I am trying to calculate expected value of perfect information for each tree. I don't know how to set this up manually and the PrecisionTool software for use with Excel that c

Queuing models :minimize expected total cost per hour

The Decision Sciences Department is trying to determine whether to rent a slow or fast copier. The department believes that an employee's time is worth $15 an hour. The slow copier rents for $4 per hour, and it takes an employee an average of 10 minutes to complete copying. The fast copier rents for $15 per hour, and it takes an

Mean and Mode Observations

(a) Determine the median and (b) the mode. 10 observations and no two values were the same? 6 observations and they were all the same? 6 observations and the values were 1, 2, 3, 3, 4, and 4? The following are the ages of the 10 people in the video arcade at the Southwyck Shopping Mall at 10 A.M. this morning.

Operations Research : Stochastic single period model to maximize expected profit.

The management of Alaska Airlines has decided to base its overbooking policy of a stochastic single period model to maximize expected profit. This policy now needs to be implemented on a new flight from Seattle to Atlanta. The aircraft has 125 seats available for a one-way fare of $250. However, since there are commonly a few no

Decision Analysis Questions

All questions have been answered. I just need someone to check the accuracy of my answers. Thank you. True/False Indicate whether the sentence or statement is true or false. T 1. A state of nature is an actual event that may occur in the future. F 2. The maximin criterion results in the maximum

Expected Frequency/independence of attributes

Problem 12.1 For this problem use the following contingency table: A B Total 1 20 30 50 2 30 45 75 Total 50 75 125 a. Find the expected frequency for each cell. ? ANSWER: b. Compare the observed and expected frequencies in each cell. ? ANSWER: c. Compare the X2 statistic. Is it significant at alpha (&#6

Quantitative Methods (5 Stats Problem)

I need help with the included statistics problems. These are practice problems and I am unable to get a good grasp in this area. 11. Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame: Period Demand 1 200 2

Risk

Problem 1 Suppose the expected returns and standard deviations of stocks A and B are E(RA) = 0.17, E(RB) = 0.27, σA = 0.12, and σB = 0.21, respectively. a. Calculate the expected return and standard deviation of a portfolio that is composed of 35% A and 65% B when the correlation between the returns on A and B is 0.

Discussing the Distribution of a Data Population

There are several measures of central tendency. By far the most frequently utilized of these measures is the mean of a population. Remember that the source of the data that you want to analyze always comes from what is called a population. If you are interested in the average high temperature in your area for the month of July,

Finance Questions

(See attached file for full problem description) --- Problem 6-3 Preferred Stock. Preferred Products has issued preferred stock with an $8 annual dividend that will be paid in perpetuity. a. If the discount rate is 12 percent, at what price should the preferred sell? b. At what

Forecasting: Moving Average, Weighted Average, Exponential

Your Director of Supply Chain needs help in developing forecasts. Choose one of the following three options. Develop forecasts for periods 6 through 24 using MA with 3 periods, 4 periods, and 5 periods, or... Develop forecasts for periods 3 through 24 using a smoothing factor of 0.2 and 0.3, or... Develop foreca

U.S Census Bureau Reports and AMA Information

I need some advice on how to create the graph and what it might look like, suggestions on the presentation, and what notes it may/might contain. I am to create a graph that compares the categories from each file. This file (U.S. Census Bureau Reports) contains reports generated from AMA's (American Marketing Association) web

Seasonal index of lumber production

The quarterly production of pine lumber, in millions of board feet, by Northwest Lumber sine 1996 is: Year | Winter | Spring | Summer | Fall 1996 | 7.8 | 10.2 | 14.7 | 9.3 1997 | 6.9 | 11.6 | 17.5 | 9.3 1998 | 8.9 | 9.7 | 15.3 | 10.1 1999 | 10.7 | 12.4 | 16.8 | 10.7 2000 | 9.2 | 13.6 | 17.1 | 10.3 a. Determine the typ

Moving average and mean square error

As long as there is either an upward or downward trend in the data, will a k-period moving average have a smaller mean square error than a moving average obtained with k+1 periods? Why or why not?

Moving Average

I am trying to understand the following question: If the overall trend of the dependent variable is decreasing, will a k-period moving average be greater than a moving average obtained with k minus 1 periods? If so, why? I cannot seem to grasp this concept and I am looking for some clarification.

An urn has m black balls

#14. An urn has m black balls. At each stage a black ball is removed and a new ball, that is black with probability p and white with probability 1 - p, is put in its place. Find the expected number of stages needed until there are no more black balls in the urn. (Question is also included in attachment)

Perform a decision tree analysis of assisting Michael and Brittany's decision dilemma using expected value, and indicate the appropriate decision with these criteria. All calculation details are included as well as a detailed explanation of the result.

The Blackduck Players The Blackduck Players is a major league baseball expansion team beginning its third year of operation. The Players had losing records in each of its first two years and finished near the bottom of its division. However, the team was young and generally competitive. The team's general manager, Donava

Rolling Average

For the enclosed, I need help figuring out the following: What were the sales in 1988? What will the sales be in 1993? How much do the sales change per year from 1984 to 1992? What's the 3 year moving average for 1984?

Moving Average

How many time series are there? What is the value of t? What is the time period used by the data? What is the independent variable? What is the 3 year moving average for crop yield?

Expected Monetary Value

The Thomas manufacturing company has $100,000 available to invest Doctor Thomas the president and CEO of the company, would like to choose one of the following three alternatives: 1. Expand her production 2. Invest the money in stocks 3. Purchase a certificate of deposit from the bank. the unknown is whether the economy will

Optimal Policy Problem

My professor gave us the solution to one of our homework problems, and I don't understand. The attached file contains his solution, and my questions in red. Can you please help me to understand? A vendor sells sweatshirts at football games. They are equally likely (0.5,0.5) to sell 200 or 400 sweatshirts per game. Each or

Expected value

Given a random variable X with the following PDF: X -3 -2 -1 0 1 2 3 pi 1/8 1/8 1/8 1/4 1/8 1/8 1/8 Find expected value E(X) and variance D(X)