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Descriptive Statistics

Optimal production levels, length of production cycle, and costs.

7. Your company manufactures turbine blades for engines in production batches for each type. For one type of blade, the A39T, you have an annual demand of 10,000 units. It costs you $1000 and takes four days to set up each manufacturing run. Holding (storage) cost is $0.50 per unit per year. Once production is set up, 80 uni

Transportation Problems Supply and Demand

A transportation problem involves the following cost, supply, and demand: To (Cost) From 1 2 3 4 Supply 1 $500 $750 $300 $450 $12 2 650 800 400 600 17 3 400 700 500 550 11 Demand 10 10 10 10

Statistical analysis in Minitab

From past experiences, Prof. A believes that the average score on final exam is 75. A sample of 20 students' exam scores is as follows: 80, 68, 72, 73, 76, 98, 71, 71, 35, 50, 63, 71, 70, 70, 76, 75, 69, 70, 72, 74 Assuming a normal population, can we conclude that the students' average is still 75? Use alpha = 0.01 a. I

Solve: Measures of Central Tendency and Dispersion

1. How many intervals should there be in a frequency table? 2. What measure of central tendency would be most appropriate for a measurement of salaries if the salaries are normally distributed, why did you choose the measure that you did? 3. What measure of central tendency would be most appropriate for a measurement of salari

Data Analysis: Insurance Carrier Survey

The data that you will be using for this exercise came from a survey of two insurance carriers. The first carrier (C1) was compared against the second competitor (C2). The insurance company management team wants to know how Carrier 1 compared to the second carrier. Data from 159 respondents are included. All of the 5 que

Distinguishing Descriptive from Inferential Statistics

The Cinergy Corporation sold 35615 million cubic feet of gas to residential customers, an increase of 1.1% over the previous year. Does this information represent descriptive statistics or inferential statistics? Why?

Compute Real GDP: Sample Problem

The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Nominal GDP, Price Index Real GDP, Year Billions (1996 = 100) Billions ______________________________________

Computing Seasonal Effects in Excel

The U.S. Department of Agriculture publishes statistics on the production of various types of food commodities by month. Shown here are the production figures on broccoli for January of a recent year through December of the next year. Using these computed values, determine the seasonal effects (S ? I). Broccoli

Defective Output Units

Units of output from a normally distributed process (which has a mean of 60cm and a standard deviation of 0.3cm) are considered acceptable so long as they fall within the interval of 59.46cm to 60.54cm. If the process mean and standard deviation remain constant, what proportion of the output from this process will be defectiv

Calculating taxable income

Madison Metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operating income. It had issued $4,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. What was the fi

BIP Model

Reconsider the California Manufacturing Co. case study (attached). The mayor of San Diego now has contacted the company's president, Armando Ortega, to try to persuade him to build a factory and perhaps a warehouse in that city. With the tax incentives being offered the company, Armando's staff estimates that the net present val

Estimate µ using the mean of the sample

A consumer advocacy group is doing a large study on car rental practices. Among other things, the consumer group would like to estimate the mean monthly mileage, µ of cars rented in the U.S. over the past year. The consumer group plans to choose a random sample of monthly U.S. rental car mileages and then estimate µ using the

Statistics -Cell Phones and Brain Cancer

In a study of 420,095 cell phone users in Denmark, it was found that 135 developed cancer of the brain or nervous system. If we assume that such cancer is not affected by cell phones, the probability of a person having such a cancer is 0.000340. a. Assuming that cell phones have no effect on cancer, find the mean and standard

Gender Selection: Microsort Method

In a test of the MicroSort method of gender selection, 51 babies are born to couples trying to have baby boys, and 39 of those babies are boys (based on data from the Genetics & IVF Institute). a. If the gender-selection method has no effect and boys and girls are equally likely, find the mean and standard deviation for the n

Quantitative Research Methods - Need help in formulating a theory about the correlation between measurable independent variables (causes) and one measurable dependent variable (the effect). Be sure to have ... (See attachment for details)

Need help in formulating a theory about the correlation between measurable independent variables (causes) and one measurable dependent variable (the effect). Be sure to have at least two independent variables. 1) Purpose Statement In one paragraph, state the correlation and identify the primary independent variables. State

EOQ Model and Quantity Discount

Apply the EOQ model to the following quantity discount situation in which D=500 units per year, C0=$40, and the annual holding cost rate is 20%. What order quantity do you recommend? Discount Category Order Size Discount (%) Unit Cost 1 0 to 99 0

Statistics - Descriptive Statistics

Below are two data sets. Using descriptive statistics, discuss the two data sets in relation to each other. Both data sets come from an operation where potato chips are being placed in small connivance store bags that are to hold 6.0 oz. Data from Machine #1 Data from Machine #2 6.10 6.40 5.90 5.60 6.10 6.10 5.80 5.80

Southern Valley Mills':Assignment problem

4. Southern Valley Mills' Richmond plant has four machine operators to be assigned to four machines. The time in minutes required by each worker to produce 100 pounds of carpet on each machine is shown in the following table: Machine (Min.) Operator A B C D 1

Empirical rule - Weights of regular coke. Using sample data on the weights of coke, we find that the mean is 0.81682 lbs., the standard deviation is 0.00751 lbs, and the distribtution is approx. bell-shaped. Using the empirical rule, what is the approx percentage of cans of regular coke with weights between 0.80931 lbs. and 0.82433 lbs?

Weights of regular coke. Using sample data on the weights of coke, we find that the mean is 0.81682 lbs., the standard deviation is 0.00751 lbs, and the distribtution is approx. bell-shaped. Using the empirical rule, what is the approx percentage of cans of regular coke with weights between 0.80931 lbs. and 0.82433 lbs?

Doubling a Volume

1-3-14 Pictographs Taxes in Newport have doubled over the past 10 years, and a candidate for mayor wants to construct a graph that emphasizes that point. She represents taxes 10 years ago by using a box with a width, length, and height all equal to 1 inch. She then doubles each dimension to show a larger box representing

Farmer Crops to plant next year on his land

1. A farmer in South Carolina must decide which crop to plant next year on his land: corn, peanuts, or soybeans. The return from each crop will be determined by whether a new trade bill with Russia passes the Senate. The profit the farmer will realize from each crop, given two possible results on the trade bill, is shown in the

Details Regarding Decision Analysis

2. The owner of the Charleston Construction Company must decide between building a housing development, constructing a shopping center, and leasing all the company's equipment to another company. The profit that will result from each alternative will be determined by whether material costs remain stable or increase. The profit f

Normal Population, Standard Deviation, Interval Estimates

A) After sampling 1000 members of a normal population, you find xbar = 15,500 and s = 9,950. Estimate the population mean with 90% confidence. b) Repeat part a assuming that you know that the population standard deviation is σ = 9,950 c) Explain why the interval estimates were virtually identical.

Estimating Population Mean With Differing Confidence Levels

A) A statistics practitioner took a random sample of 50 observations from a population whose standard deviation is 25 and computed the sample mean to be 100. Estimate the population mean with 90% confidence. b) Repeat part a using a 95% confidence level c) Repeat part a using a 99% confidence level d) Describe the effec