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Part 1: Inventory manager for Itex received wheels bearing from Wheel - Rite a small producer of metal parts , Unfortunately , Wheel -rite can only produce 500 wheel bearings from wheel rite each year. Since Itex operates 200 working days each year., its average daily demand for wheel bearings is 50. The ordering cost for Itex is $40 per order and the carrying cost is 60 cents per wheel bearing per year. How many wheel bearings should Itex order from wheel Rite at one time? Wheel -rite has agreed to ship the maximum number of wheel bearings that it produces each day to Itex when an order has been received.
Part 2: National Scan, Inc., sells radio frequency inventory tags (RFID). Monthly sales for a seven-month period were as follows:
Month Sales (000 units)
Feb..................19
Mar..................18
Apr...................15
May..................20
Jun...................18
Jul....................22
Aug..................20
What is a linear trend equation?
Single group post-test and internal validity threats - Answer the question either by writing the design name or by describing the design using standard notation
Suppose that bank has made a large number of loans of a certain type. The one year probability of default each loan 1.2%. The bank uses a Gaussian copula for time to default.
Calculate separate confidence intervals for the numbers of days absent for Clinic A and Clinic B, respectively.
The machine will stop working if more than three components fail. Find the probability that the machine will be working.
Which statement about re-expressing data is not true? I. Unimodal distributions that are skewed to the right will be made more symmetric by taking the square root of the variable.
Use the t test to determine whether the slope of the regression model is significant at α = 0.05.
Find out the probability
Using the data in the Excel file Home Market Value, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house.
Without good measurement, statistical analysis is worthless." Do you believe it is an overgeneralization, or do you think it is accurate as written?
In a study of 10 graduate students from a nurse education program, the average age of the group was 48.6 years and the standard deviation was 4.1 years. Assume the variable is normally distributed. Find the 95% confidence interval of the true mean..
Find a 95% confidence interval for the population mean selling price of all homes in this neighborhood.
Suppose that the National Labor Relations Board (NLRB) wishes to estimate the average hourly wage rate for a certain classification of skilled workers. It wishes to be 95% certain to get an estimate of sample mean within 0.05 of the truth.
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