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In the basic EOQ model, suppose the stock is replenished uniformly (rather than instantaneously) at the rate of b items per unit time until the order quantity Q is fulfilled. Withdrawals from the inventory are made at the rate of a items per unit time, where α
(a) Find the total cost per unit time in terms of the setup cost K, production quantity Q, unit cost c, holding cost h, withdrawal rate a, and replenishment rate b.
(b) Determine the economic order quantity Q*.
Suppose that lifetimes of such mice are normally distributed with standard deviation of 6 months, determine the probability that given mouse will live?
Test Scores: mean=100 variance = 225 Years of Service: mean=5 variance = 81 Of test scores and years of service, which measure has the greater dispersion?
Chi-square test for independence of attributes - Describe why a x 2 test of the resulting contingency table is appropriate for such an investigation.
Describe how the three interval estimates will be related to each other. Which of the three intervals is most likely to contain the population mean?
What is the probability that a randomly selected assembly line worker earns more than $22,000? What is the probability that the average salary of 5 assembly line workers is higher than $22,000?
Is there sufficient evidence to support the claim that site has an effect on the amount of pesticide?
Powerball is a lottery game. It involves choosing five white balls from a drum containing 55 balls and one red ball from a drum containing 42 balls. A player must match all five white balls and the red ball to win the jackpot.
If death occurs in the second year, insured will receive at time 2 only a return of the single premium paid without interest. Suppose q70 = 0.36, q71 = 0.40, and the interest rate is 100%. Find (a) the single premium, (b) 1V.
Rolling a die Simulate 36 rolls of a fair die. Give the relative frequency and the corresponding theoretical probability of each of the outcomes and compare them.
Assuming that this probability does not change, he would like to compute the probability that he will score on 1 or more of his next 4 attempts. He should use?
The quality-control inspector checks 200 pieces in a certain operation. The piece is either good or defective. The record for nine hours.
1. three coins are tossed. let x be the number of heads obtained. the probability distribution for x if given x 0 1 2
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