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Quantative Analysis of Data

Mean hourly wage

Compute the mean hourly wage paid to carpenters who earn the following wages. $15.40, $20.10, $18.75, $22.76, $30.67, $18.00

The Bookstall, Inc., is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback and the rest were hardcover. What was the weighted mean price of a book?

The Bookstall, Inc., is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3.50. Of the 50 books sold last Tuesday morning, 40 were paperback and the rest were hardcover. What was the weighted mean price of a book?

Eleven, Chevron, and Shell Raw Data

Could you identify explain and calculate how to get the result by using the raw data (locate Hawaii, Southern Carolina, Florida, Las Vegas and Seattle) (Eleven, Chevron and Shell). Raw data above using the data collected above presen the following: A. 1. Discuss any observations you can make regarding the ra

Calculating Dispersion and Confidence Intervals

Gas Price Gas Price Gas Price $3.76 $3.99 $4.25 $3.79 $3.99 $4.25 $3.79 $4.00 $4.25 $3.80 $4.00 $4.25 $3.81 $4.03 $4.25 $3.82 $4.05 $4.29 $3.84 $4.05 $4.29 $3.85 $4.07 $4.29 $3.86 $4.08 $4.29 $3.87 $4.09 $4.29 $3.87 $4.09 $4.36 $3.87 $4.09 $4.36 $3.89 $4.09 $4.36 $3.89 $4.11

Quantitative methods - Sensitivity

Please see attached 3 problems. Here's the process I want you to use to answer sensitivity questions. For attached problems, please copy and paste the sensitivity report from QM for Windows. ? Determine if the change is within the permitted boundaries. If it is, the answer to your question can be found within the data.

Mean and Standard Deviation of Data

0 0 5 10 14 16 32 38 40 44 78 86 99 142 175 176 202 220 301 400 A) What is the mean? B) What is the Standard Deviation C) What percent of data fall between minus 2 and plus 2 standard deviations of the mean? How does this compare to the Empirical Rule?

Sample Functions: The Mean Value of the Random Variable

The random number generator in a computer generates three-digit numbers that are uniformly distributed between 0.000 and 0.999 at at rate of one random number per second starting at t=0. A sample function from a random process is generated by summing the 10 most recent random numbers and assigning this sum as the value of the s

Safety Stock and Reorder Point

Lead-time demand is 600 pounds. The standard deviation of lead time demand is 52 pounds. Assuming the lead time demand is normally distributed and that an acceptable risk of stocking out is 4%: a. What is the appropriate amount of safety stock? b. What reorder point will ensure you can provide a 96% service level? c. Would

Introduction to Statistics: Mean and Standard Deviation

Price Quote for Case Study – Statistics Melanie Barber Chapter 4 Aczel and Sounderpandian (sixth ed) CASE 5: Acceptable Pins A company supplies pins in bulk to a customer. The company uses an automatic lathe to produce the pins. Due to many causes- vibration, temperature, wear and tear, and the like-the lengths of

Descriptive Statistics of Housing Market

Reflect on your local housing market. How can measures of central tendency (mean, median and mode) help you to analyze the local market? Quality control is important for any business. Reflect on your own business or past experiences. How has basic descriptive statistics helped you (or your company) assess operational quality?

Multiple choice questions on Normal distribution, Confidence Interval

1. The amount of pyridoxine (in grams) per multiple vitamin is normally distributed with m = 110 grams and Q(standard deviation)= 25 grams. A sample of 25 vitamins is to be selected. So, the middle 70% of all sample means will fall between what two values? a) 104.8 and 115.2 b) 108.4 and 112.5 c) 115 and 100.7 d) 85 and 12

Mean, median and mode - The Kiers family owns five cars.

The Kiers family owns five cars. The following is the current mileage on each of the five cars. 56,000 42,000 54,000 23,000 89,000 What is the mean mileage for the cars? The ages for a sample of five college students are: 21, 25, 19, 20, 22. What is the median? The heights of four basketball players, in in

Queuing: M/M/s model: Comparing no of servers based on total costs

1. Department Store has approximately 300 customers shopping in its store between 9 A.M. and 5 P.M. on Saturdays. In deciding how many cash registers to keep open each Saturday, Schmedley's manager considers two factors: customer waiting time (and the associated waiting cost) and the service costs of employing additional checkou

Batting Average and Company Claims Analysis

These are the only two review questions I would like assistance with. Thank You. 1. A batting average of .400 hasn't been attained for about 70 years. Go to the Baseball data set and compute the 99% CI interval for batting means statistically regarding the difficulty of hitting .400. Baseball Stats attached in Excel. 2.

Skew, coefficients of variation, class limits etc.

1. A group of 100 students were surveyed about their interest in a new International Studies program. Interest was measured in terms of high, medium, or low. 30 students responded high interest; 50 students responded medium interest; 40 students responded low interest. What is the relative frequency of students with high intere

1) develop a point estimate of the mean cost per treatment of the drug; develop a point estimate of the standard deviation 2) What is the probablity that a random sample of 75 students will provide a sample mean SAT score within 10 of the population mean? 3) Show the sampling distribution of p 4) find the value of the standard error of the mean 5) Develop a point estimate of the proportion who are bullish on the stock market

1) Assuming the following numbers are dollar amounts per treatment with a specific drug, develop a point estimate of the mean cost per treatment of the drug. Next, develop a point estimate of the standard deviation of the cost per treatment of the drug. 4376 5578 2717 4920 4495 4798 6446 4119 4237 3814 2) T

Confidence Intervals: Women Height, Package Weights

(23) Assume that the heights of women are normally distributed. A random sample of 20 women have a mean height of 62.5 inches and a standard deviation of 2.3 inches. Use the Chi-Square distribution to construct the 99% confidence interval for the population standard deviation a of women's heights. (24) FedEx Ground would like

Standard Deviation and The Central Limit Theorem

1. Assume that blood pressure readings are normally distributed with a mean of 117 and a standard deviation of a = 6.4. If one person is randomly selected, find the probability that their blood pressure will be less than 119. If 64 people are randomly selected, find the probability that their mean blood pressure will be l

Median, Model, Numerical Measures

Fore more details problems, you can see in attachment file 17. A home theater in a box is the easiest and cheapest way to provide surround sound for a hoem entertainment center. A sample of prices is shown here (Consumer Reports Buying Guide,2004). The prices are for models with a DVD player and for models without a DVD play

Rounding Off, Descriptive Statistics

Rounding Off 1. State the Round-Off Rule as described in Section 3.3. You will use this rule to decide how many decimal places to round the answers in this project. If you have not noticed by now, rounding off is important; at the very least, it can make the difference between a correct and incorrect answer. 2. What is .02

How to calculate mean, median, mode, and quartiles.

5. The Dow Jones Travel Index reported what business travelers pay to hotel rooms per night in major U.S cities (The Wall Street Journal, January 16,2004). a. What is the mean hotel room rate? b. What is the median hotel room rate? c. What is the mode? d. What is the first quartile? e. What is the third quartile? Th

This posting provides different problems on operation management including assignment and transportation problems for hardrock concrete company, ashley's auto top carriers and State of Missouri.

10-7 What is the enumeration approach to solving assignment problems? Is it a practical way to solve a 5 row X 5 column problem? A 7X7 problem? Why? 10-13 The hardrock concrete company has plants in three locations and currently working on 3 major construction projects, each located at a different site. The shipping cost per

Mean, Mode, Median, Variance and Standard Deviation

I need the attached discussion question answered as the solution in my textbook is too hard to understand. Please respond to the following discussion question. You are given the following data. Student Number Age Income/ thousands Hours Studying /Per Week Final Grade Gender 1 46 37 6 70 M 2 53 46 19 92 F 3 34 25 20 95

Quantitative Analysis - Break even

Really need help with this problem. Please show me how to set it up in the correct steps. a. Ryan is planning to finance her college education by selling programs at the football games for her team. there is a fixed cost of $400 for printing these programs, and the variable cost is $3. there is also a $1,000 fee that is p