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In the past few years out sourcing over seas has become more frequently used than before by U.S. companies. However, out souring is not with out problems. A recent survey indicates that 20% of the companies that outsource over seas use consultant. Suppose 7 companies that outsource are selected randomly (use formula)
a. What is the probability that exactly five companies that outsource overseas use a consultants.
b. What is the probability that 5 or more companies use consultants?
c. Calculate the expected value.
d. Calculate the standard deviation.
What is the expected value and variance for the number of contacts in eight attempts?
Determine the median, and the standard deviation. Determine the coefficient of skewness using Pearson's method. Listed below are the commissions earned ($000) last year by the sales representatives at the Furniture Patch, Inc.
Need to come up with a regression model to forecast monthly sales of cold beverages for the next year. What variables might be included in the model?
In the graphical method, how do you know when a problem is infeasible, unbounded, or when it has multiple optimal solutions? What are the essential ingredients of an LP model? Why is it helpful to understand the characteristics of LP models?
Finding the probability of each event in a group of events of different possibility
Describe the advantages and disadvantages of quasi-experiments? What is the fundamental weakness of a quasi-experimental design? Why is it a weakness? Does its weakness always matter?
Assume we have a population of scores with a mean of 975 and a standard deviation of 15. Assume that the distribution is normal. Provide answers to the following questions:
Test the hypothesis. Will you reject or not reject the null hypothesis at α = 0.05
Each party's position must be statistically sound. Include as suitable graphs, computations, and statistical tests.
Martin Motors has in stock three cars of the same make and model. The president would like to compare the gas consumption of the three cars (labeled car A, car B, and car C) using four different types of gasoline.
Find out the probability
Describe a business situation that you have had or might face that will benefit from the use of confidence intervals?
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