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A bus company believes that it will need the following numbers of bus drivers during each of the next 5 years:
60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver's salary is $10,000 per year. At the beginning of year 1 the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year.
a. Determine how to minimize the bus company's salary, hiring, and firing costs over the next 5 years.
Determine the test criteria that would be used to test Ho: u 1.0 with n=18 and significance level of 0.01 using the classical approach.
Assume that you have a binomial experiment with p = 0.5 and a sample size of 100. The expected value of this distribution is.
Prepare a 10-13-question survey to gather primary data regarding your selected problem statement. Please note that you will not administer this survey as part of this assignment.
The standard deviation of the time to complete the entire homework assignment
Quality control engineer has been checking output by almost continuous sampling as abnormal condition began. Determine the probability that in sample of 10 pieces.
A random sample of 25 injections resulted in a variance of 0.135 test if the apparatus has a greater variance than the desired one.
During 2001, 61.3% of US households purchased ground coffee.These households spent an average of $36.16 on ground coffee during the year.
A faculty group wants to determine whether job rating (x) is a useful linear predictor of raise (y). Consequently, the group considered the linear regression model:
Assume x is normally distributed with mean u=15 and standard deviation 0=3. Use the approximate areas beneath the normal curve, as discussed in this section, to answer the following questions.
Select two non-parametric tests utilized in business decision making? Give an example of each test with an appropriate business situation.
The standard deviation of is usually called the A. randomized standard error B. standard error of the sample C. standard error of the population D. standard error of the mean
If the computed value for this problem is +2.33, and the level of significance is 0.05, can we conclude that the recall proportions for the two commercials are same?
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