How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
Explain the characteristics of integer programming problems. Give specific instances in which you would use an integer programming model rather than an LP model. Provide real-world examples. Explain how the applications of Integer programming differ from those of linear programming. Why is "rounding-down" an LP solutio
12-14 Jean Walker is making plans for spring break at hte beaches in Florida. In applying techniques she learned in her quantitative methods class, she has identified the activities that are necessary to prepare for her trip. The following table lists the activities and the immediate predecessors. Draw the network for this pro
I need assistance with one section of this assignment. It asks to calculate the mode, median, and mean in Microsoft Excel using a specific set of data (summer historical data) and to compare the mode, median, and mean of the data. I have included the work from week 5 as well as the complete assignment due to show I'm not asking
Pete's copy center located in Boston, MA has three coin operated copying machines used primarily by Politicians to make copies of their confidential diaries and illegal agreements with foreign governments and corporations. The owner, Pete Salem, is a former Ricoh repairman and can fix a broken machine within 20 minutes on the average. Many times the machines are only jammed and he can get them working again quickly so the exponential will describe his repair time distribution. The time-to-breakdown of a freshly repaired copier averages 60 minutes and is also exponentially distributed. His revenue when all machines are working averages $80/hr per machine. When one machine is broken his revenue drops to $60/hr per working machine because of balking. When two machines are broken his revenue from the remaining machine decreases to $50/hr. When all machines are broken his revenue naturally drops to zero. a) Compute his average hourly revenue? b) If he employs a second, equally competent, repairman, what will be his total expected hourly income? c) What is the largest hourly wage he can pay the employee without decreasing the expected hourly income he earned when working alone?
Pete's copy center located in Boston, MA has three coin operated copying machines used primarily by Politicians to make copies of their confidential diaries and illegal agreements with foreign governments and corporations. The owner, Pete Salem, is a former Ricoh repairman and can fix a broken machine within 20 minutes on the a
Portable CD Player Lifetimes A recent study of the life span of portable compact disc players found the average to be 3.7 years with a standard deviation of 0.6 year. If a random sample of 32 people who own CD players is selected, find the probability that the mean lifetime of the sample will be less than 3.4 years. If the m
A researcher plans to compare two treatment conditions by measuring one sample in treatment 1 and a second sample in treatment 2. The researcher will then compare the scores for the two treatments. If there is a difference between the two groups of scores, a. Briefly explain how the difference may have been caused by the trea
There are good examples of how mean and median is calculated. Both provide us an idea of the data point that is around the center of the dataset. Now the issue is why do we have two different ways of describing the center?
The weight of a product is normally distributed with a standard deviation of .5 ounces. What should the average weight be if the production manager wants no more than 10% of the products to weigh more than 4.8 ounces?
Calculate the measures of central tendency, dispersion, and skew for your data. Display your descriptive statistical data using graphic and tabular techniques. * Frequency distribution * Histogram Based on your skew value and histogram, discuss the best measures of central tendency and dispersion of your data. Justify you
The following frequency table summarizes the ages of 100 shoppers at the local grocery store. Calculate the sample variance and standard deviation for this data set. Please show your work in Excel. Age of the shopper Frequency 15-25 15 25-35 3
See attached file for problem and data. Problem 1: Show the distribution of heights visually. Can you draw any conclusions? What does it mean to "show the distribution...visually?" What specific tool in Chapter 1 gives a picture of the data distribution? Problem 2: Describe the distribution of weights with the Five Numb
Using a standard normal distribution, what percent of scores fall within one standard deviation of the mean? What percent of scores fall two or more standard deviations below the mean? If the mean = 250, what is the median?
Please provide an example of how you believe statistics can enrich and represent the results of a study, and an explanation of how statistics can be used to misrepresent the results of a study
The economists in the Obama administration suggested that the stimulus package that they recommended in early 2008 would keep unemployment under eight percent. Even though they did not show us their analysis, we all know that it was flawed because unemployment reached ten percent in 2010. Were their econometric models improper
1. A university wants to estimate the average amount of money that students spend on books in a semester. It takes a random sample of 45 students and finds that the average amount of money spent was $282 with a standard deviation of $21. Find a 95% confidence interval estimate for the true mean amount of money spent on books in
What are measures of central tendency and variability, and why are they essential to descriptive statistics?
This solution analyzes the process capability and SPC of a process. The solution analyzes the Xbar and R charts for the process.
See the attached file. Q1) The diastolic blood pressure, x, and the systolic blood pressure, y, were recorded for 13 females. x 76 70 82 90 68 60 62 60 62 72 68 80 74 y 122 102 118 126 108 130 104 118 130 116 102 122 120 Find the correlation coefficient (and all related values) for these data: Q2) Suppose a cert
1-2 A national homebuilder builds single family homes and condominiums style townhouses. The excel file shows information on selling price, lot cost, type of home, and region of the country (M-Midwest and S-South) for closings during one month. Use PivotTables to find the average selling price and lot cost for each type of ho
Osteoporosis is a condition in which bone density decreases, often resulting in broken bones. Bone density usually peaks at age 30 and decreases thereafter. To understand more about this condition a random sample of women aged 50 and over were recruited. Each woman's bone density loss and age are recorded in file Xr04-83. a) Co
The Globe Fishery packs shrimp that weigh more than 1.91 ounces each in packages marked" large" and shrimp that weigh less than 0.47 ounces each into packages marked "small"; the remainder are packed in "medium" size packages. If a day's catch showed that 19.77 percent of the shrimp were large and 6.06 percent were small, deter
1. To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was quoted are listed below: $ 298 $ 125 $ 411 $ 157 $ 231 $ 213 $ 304 $ 272 Find the Standard deviation 2. When investigating times required for drive-through
Suppose that a stock is currently selling for $100. The change in the stock's price during the nest year follows a normal random variable with a mean of $10 and a standard deviation of $20. What is the probability (rounded to the nearest hundredth) that the stock will sell for at least $120 in a year's time? a. .31 b. .16
You are responsible for planning the parking needed for a new 256-unit apartment complex, and you're told to base the needs on the statistic 'average number of vehicles per household is 1.9'. Which average (mean, median, mode, midrange) will be helpful to you? Explain.
1. Given the following frequency distribution, find the mean, variance, and standard deviation. 2. Please show all of your work when answering the following: Use Chebyshev's theorem to find what percent of the values will fall between 222 and 286 for a data set with a mean of 254 and standard deviation of 16. Use the Em
I need the simplest step by step directions for the following word problem. Management of a grocery store recorded the number of coupons redeemed by customers during a recent double coupon sale. The data is presented below. # of coupons f 0-4 15 5-9 9 10-14 6
Assume you are a marketing analyst working for a manufacturer of ready-to-eat cereal. You are given detailed sales data for the past year and asked to create a report showing the differences between the four sales regions (north, south, east, and west) in terms of sales volume, profitability, and changes in sales volume and prof
Question 1 Using the data set below, please calculate the: 2 8 6 9 5 - Range - What would be the percentile rank of the number 6? Question 2 Find the median height of a basketball team: 73, 76, 72, 70, and 74 inches
Attached is a link of study for the study, "Nighttime Lighting in Intensive Care Units", authored by Heather Dunn, MS, ACNP-BC, Mary Ann Anderson, PhD, RN and Pamela D. Hill, PhD, RN, CBE. http://ccn.aacnjournals.org/content/30/3/31.long Can you help me answer the following questions related to this study: How were meas