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Descriptive Statistics

EOQ model: what value of ordering cost is optimal?

Henry Crouch's law office has traditionally ordered ink refills at 60 units a time. The firm estimates that carrying cost is 40% of the $10 unit cost, and that annual demand is about 240 units per year. The assumptions of the basic EOQ model are thought to apply. For what value of ordering cost would its action be optimal?

Find dependent and independent variables

Variables and Level of Measurement: Identify the dependent and independent variables used in this paper, and their level of measurement (attribute or numeric). Week 2 paper will only have a Dependent Variable. Length: One sentence per variable. I have attached the data to answer the question

Recommended Method of Financing: Example Problem

Due to large losses incurred in the past several years, a firm has $2 billion in tax-loss carryforwards. This means that the next $2 billion of the firm's income will be free from corporate income taxes. Security analysts estimate that it will take many years for the firm to generate $2 billion in earnings. The firm has a modera

Compute the coefficient of variation

For a sample of students in the college of business administration at mid-atlantic university, the mean grade point average is 3.10 with a standard deviation of 0.25. Compute the coefficient of variation.

Compute range, standard deviation, and variance.

For this exercises compute the range, the standard deviation and the variance. refer to the following frequency distribution. class frequency 20 up to 30 7 30 up to 40 12 40 up to 50 21 50 up to 60 18 60 up to 70 12

Compute range, standard deviation, and variance

For this exercise compute the range, the standard deviation and the variance. refer to the following frequency distribution. class frequency 0 up to 5 2 5 up to 10 7 10up to 15 12 15up to 20 6 20up to 25 3

Nominal and Ordinal Data

Survey Paper Using the business problem selected ( business, economic or marketing)develop a problem statement which can be addressed with survey research. Prepare a 10-13-question survey to collect primary data regarding your selected problem statement. . Your survey questions should include a mixture of categorical (nomina

Five Step Hypothesis Test for Statistics

Perform a five-step hypothesis test on data below: Below is the descriptive Stats I used to get the mean I used in the numerical hypothesis Descriptive statistics Through 13 years of education Wage count 67 mean 25,386.07 sample variance 132,209,364.95 sample standard deviation 11,498.23 minimum 9879

Statistical Information in a Professional Setting

Discuss the types of statistical information collected in your professional setting. Provide examples to illustrate the information/data. - The advantages of accurate interpretation of statistical information - How this information is used to improve decision making in your organization

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