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Question: Use @RISK to analyze the sweatshirt situation in Problem of the previous section. Do this for the discrete distributions given in the problem. Then do it for normal distributions. For the normal case, assume that the regular demand is normally distributed with mean 9800 and standard deviation 1300 and that the demand at the reduced price is normally distributed with mean 3800 and standard deviation 1400.
Problem: A sweatshirt supplier is trying to decide how many sweatshirts to print for the upcoming NCAA basketball championships. The final four teams have emerged from the quarterfinal round, and there is now a week left until the semifinals, which are then followed in a couple of days by the finals. Each sweatshirt costs $10 to produce and sells for $25. However, in three weeks, any leftover sweatshirts will be put on sale for half price, $12.50. The supplier assumes that the demand for his sweatshirts during the next three weeks (when interest in the tournament is at its highest) has the distribution shown in the file P15_14.xlsx. The residual demand, after the sweatshirts have been put on sale, has the distribution also shown in this file. The supplier, being a profit maximizer, realizes that every sweatshirt sold, even at the sale price, yields a profit. However, he also realizes that any sweatshirts produced but not sold (even at the sale price) must be thrown away, resulting in a $10 loss per sweatshirt. Analyze the supplier's problem with a simulation model.
An automobile insurance company estimates the following loss probabilities for the next year on a $25,000 sports car:
test the hypothesis that 9.575083 10.55852 amp 9.17 are equal. what is the numerator degrees of freedom? what is the
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In the past HR uses an average of 25 vacation days per worker in order to make available man-hour and payroll predictions. Is there evidence to show that the number of vacation days decreased over the past year? Use alpha = .05
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A random sample of 10 yields the following thicknesses (in millimeters): 0.0048, 0.0053, 0.0051, 0.0051, 0.0052, 0.0049, 0.0051, 0.0047, 0.0054, 0.0052. Find the average loss per reel.
What percentage of items will weigh between 6.4 and 8.9 ounces?
a manufacturer produces lightbulbs at a poisson rate of 239 per hour.the probability that a lightbulb is defective is
Given the following data on Asian and European Share of U.S. Light Truck Sales(1990-2003): Which trend model is best, and why? If none is satisfactory, explain.
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