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Quantative Analysis of Data

Answer to Statistics question: Quantitative Methods

Joe is going to invest $250,000 in the development of new products. The new products have the following expected costs, yields, and degrees of risk. Expected Expected Expected Product Cost Yield Risk A $100,000 0.20 8 B $50,000 0.10 4 C $50,000 0.15 10 D $150,000 0.10 0

Quantitative Methods

Three quarries produce lime which is then shipped to five warehouses Quarry Tons Lime 1 200 2 100 3 150 Transport Costs (per ton) Quarry 1 2 3 4 5 1 $5 $1 $6 $3 $1 2 $2 $3 $4 $5 $4 3 $4 $2 $3 $2 $3 Demand 80 90 100 70 60 (tons)

Quantitative Methods

State University has planned six special catered events for the Saturday of its homecoming football game. The events include an alumni brunch, a parent's brunch, a booster club luncheon, a postgame party for season ticket holders, a lettermen's dinner, and a fund-raising dinner for major contributors. The university wants to us

Quantitative Methods:Assignment problem

Bayville has built a new elementary school, increasing the town's total to four schools- Addision, Beeks, Canfield, and Daley. Each has a capacity of 400 students. The school board wants to assign children to schools so that their travel time by bus is as short as possible. The school board has partitioned the town into five dis

Quantitative Methods

A manufacturing firm produces diesel engines in four cities- Phoenix, Seattle, St. Louis, and Detroit. The company is able to produce the following numbers of engines per month. Plant Production 1. Phoenix 5 2. Seattle

Quantitative Methods

Steel mills in three cities produce the following amounts of steel. Location Weekly Production A. Bethlehem 150 B. Birmingham 210 C. Gary 320 = 680 These

Probability and Statistics: 3 questions with multiple parts

1. For this question pretend you are drawing cards without replacement from the infamous "Iraq's Most Wanted" deck issued by the U.S. Military. If you are drawing from the full deck of 55 cards, what are the following probabilities: a. You draw a card that is not Saddam Hussein b. You draw two cards, which end up being Sadd

Various Statistics Problems: See attached file for full problem description.

I) PRLICAN STORES Pelican Stores, a division of National Clothing, is a chain of women's apparel stores operating throughout the country. The chain recently ran a promotionin which discount coupons were sent to customers of other National Clothing stores. Data collected for a sample of 100 in-store credit card transactions at P

Quantitative Methods

Lauren Moore has sold her business for $500,000 and wants to invest in condominium units ( which she intends to rent) and land ( which she will lease to a farmer). She estimates that she will receive an annual return of $8,000 for each condominium and $6,000 for each acre of land. A condominium unit costs $70,000, and land is $3

Questions on distributions: mode, skewness.

1. Based on the display, the mode (or modes) for this distribution of values is ??? 1 000 1 5688999 2 1112244 2 57 3 134 3 68 4 2 4 7 5 1 5 5 6 6 7 7 2. The following shows the 5 - number summary for the box-and-whisker plot. Box-and-whisker plot Five-number Summary Minimum

Mean and Standard Deviation for Medical Issues

Because they are so easy to correct, multiple choice questions are commonly used for class test, SAT test, MCAT test for medical schools and many other circumstances. The table listed describes the probability distribution for the number of correct responses when someone makes random guesses for 10 multiple choice questions on

Quantitative Methods

The Pyrotec Company produces three electrical products- clocks, radios, and toasters. These products have the following resource requirements. Resource Requirements Cost / Unit Labor Hours/ Unit Clock

Quantitative Methods:LPP

Iggy Olweski, a professional football player, is retiring, and he is thinking about going into the insurance business. he plans to sell three types of policies - homeowner's insurance, auto insurance, and life insurance. The average amount of profit returned per year by each type of insurance policy is as follows. Policy

Simple queries on statistics

1.The relationship among the mean, median, mode in symmetric distribution is... In mean, median, mode and standard deviation which measures of central tendency are not affected by extremely low or extremely high values. In a simple linear regression problem, r and b1 (have opposite signs/must have same signs/must have oppos

Quantitative Methods for Maximizing Profit

Please help with the following problem. Provide step by step calculations in the solution. Lowe's manufactures glass doors, windows, patio doors, and wood doors Each of these uses 5 square feet, 1 sq.. Ft, 9 sq ft, and 12 sq ft of wood respectively Each uses 2, 3, 4, and 1 sq ft respectively of glass Each takes 3, 2, 5,

Quantitative Methods

The following linear programming model formulation is used for the production of four different products, with two different manufacturing processes and two different material requirements. maximize Z = $50 X1 + 58 X2 + 46 X3 + 62 X4 subject to ***NOTICE- The x's have no. behind them that are lowered right cased numbers.

Quantitative Methods

Solve the model formulated in problem 11 for the Irwin Textile Mills graphically. a. How much extra cotton and processing time are left over at the optimal solution? Is the demand for corduroy met? ( Use SOLVER to solve) b. What is the effect on the optimal solution if the profit per yard of denim is increased from $2.2

Linear Programming - The Crumb and Custard Bakery

The Crumb and Custard Bakery makes coffee cakes and Danish in large pans. The main ingredients are flour and sugar. There are 25 pounds of flour and 16 pounds of sugar available and the demand for coffee cakes is 5. Five pounds of flour and 2 pounds of sugar are required to make a pan of coffee cake, and 5 pounds of flour and

Linear Programing and Integer programming problems

12. Betty Mallow, owner of the Eagle Tavern in Pittsburgh, is preparing for Super Bowl Sunday, and she must determine how much beer to stock. Betty stocks three brands of beer- yodel, shotz, and rainwater. The cost per gallon (to the tavern owner) of each brand is as follows: Brand Cost/Gallon Yodel $1.50 Shotz $0.90 Rainwat

Standard Deviation and t-test

Problem 1. Confidence Intervals: t tests. Digitized Documents, Inc., is a small but rapidly growing firm in the digitized document translation business. The company reads architectural and engineering drawings into a scanning device that translates graphic information into a digitalized format that can be manipulated on a person

Statistics: Mean, Mode, and Median

See attached files for full problem description. 1.Consider a sample with data values of 10, 20, 12, 17, and 16. Compute the mean and median. 5. The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major US cities (The Wall Street Journal, January 16, 2004). The hotel room rates for

Level of Measurement, continuous or discrete variable, statistic or parameter

Decide which of the four levels of measurement (nominal, ordinal, interval, ratio) is most appropriate for the following examples: 1. the sample of spheres categorized form softest to hardest 2. survey responses of "good, better, best" 3. ages of survey respondents 4. the temperatures of eight different plastic spheres

Quantitative Analysis - Toby's Trucking Company

Toby's Trucking Company determined that on an annual basis the is normally distributed with a mean of 50.0 thousand miles and a standard deviation of 12.0 thousand miles. a. What proportion of trucks can be expected to travel between 34.0 and 50.0 thousand miles in the year? b. What is the probability that a randomly sel

Quantitative Methods - machine shop

A machine shop owner is attempting to decide whether to purchase a new drill press, a lathe, or a grinder. The return from each will be determined by whether the company succeeds in getting a government military contract. The profit or loss from each purchase and the probabilities associated with each contract outcome are shown

Retread Tire Company Break Even

The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000. The variable cost of recapping a tire is is $9. The company charges $25 to recap a tire. Graphically illustrate the break even volume for the Retread Tire Company.

Quanitative Methods

An investor is considering two investments, an office building and bonds. The possible returns from each investment and their probabilities are listed as follows. Using expected value and standard deviation as a basis for comparison, discuss which of the two investments should be selected. Office Building

Quantitative Methods - Retread Tire Company

The Retread Tire Company recaps tires. The fixed annual cost of the recapping operation is $60,000. The variable cost of recapping a tire is is $9. The company charges $25 to recap a tire. A. For an annual volume of 12,000 tires, determine the total cost, total revenue, and profit. A. Formula is : Total cost = Fixed Cost +

Mean, Media, Mode - Calculations

Please explain the following: The difference between mean, median and mode, When each is appropriate to use, The relationship between variance and standard deviation, Why both measures are necessary, The relationship of these measures to estimation theory. Use the Sample Data to illustrate your points (ATTACHED).

SAT and ACT Tests

Scores by women on the SAT-I test are normally distributed with a mean of 998 and a standard deviation of 202. Scores by women on the ACT test are normally distributed with a mean of 20.9 and a standard deviation of 4.6. Assume that the two tests use different scales to measure the same aptitude. a. If a women gets a SAT sc