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A manufacturer produces and sells chilled, ready-to-eat pasta salad in round lots of 50 serving units each. These items have a very limited shelf life; therefore, if items are made but not sold, they have no value. Conversely, if demand exceeds supply during the week (regular production runs are made on Friday of each week for sales the following week), an extra production run can be made. The cost per unit for a regular run is $5 per unit, whereas the cost of an extra production run is $7 per unit. All items are sold for $10 per unit regardless of production cost. Historically, demand has been for 50, 100, or 150 units each week, so the company makes one of those run sizes. In the past, the manager of the department has made 100 units per week for regular production.
Prepare a payoff table showing profits for each of the lot sizes.
The Statistical Abstract of the United States published by the US Census Bureau reports that the average annual consumption of fresh fruit per person is 99.9 pounds.
The carpeting department supervisor claims that the average number of days between the receipt of a complaint and its resolution is 20 days or less.
Explain how much money do these people make each year. Suppose you read in your local newspaper that 45 officials in student services whioch is earned as an average.
The mean for a sample of n=16 scores has an expected value of 50. This sample was selected from a population with a mean of µ=50.
Your workplace reduces all workplace scores on particular employee aptitude test in z-scores which are placed in district-wide distribution of scores.
Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number).
Carry out an ANOVA and describe in detail in a BPS-formatted Results section:
Critically discuss the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why?
A simple random sample of 6 recent graduates revealed the following information about their weekly incomes. What is the expected value of the average weekly income of all the recent graduates?
What is the maximum error of estimate for p ?
The mean of land and buildings per acre from a sample of farms was $637, with a standard deviation of 26. Use Empirical Rule to find approximate percentage of acreage whose values were between $ 661 and $663.
Survey on What do you think is the biggest problem facing education today. One problem with exit polls may be that the wrong "key precincts" were chosen.
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