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Jim Overstreet, inventory control manager for Itex, receives wheel bearings from Wheel-Rite, a small producer of metal parts. Unfortunately, Wheel-Rite can only produce 500 wheel bearings per day. Itex receives 10,000 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.
What is the probability of getting a number less than 5 on both?
For a sample of students in the college of business administration at mid-atlantic university, the mean grade point average is 3.10 with a standard deviation of 0.25.
Testout the significance of the sample correlation also develop regression equation with scatter plot. Calculate chi-square is less than the critical value
Find the probability between the given values for normal distribution.
Scores on certain nationwide college entrance examination follow normal distribution with mean of 500 and a standard deviation of 100. Determine the probability that student will score?
It does not matter, when data are skewed mean and median are the same.
A monthly report to the Texas Department of Health, division of Water Hygiene, contained the following water production data in thousands of gallons:
Using standard normal table, show critical value for left-tailed test with α = 0.02.
Expireall Corporation is in finishing business. The following data took place during September: The standard cost card indicates that 2.0 feet are used in the production of each unit. The standard cost of each material is $4.50 per foot.
Only 10% of American adults can name the capital of the Czech Republic. On a television game show the three randomly selected contestants are given the question "What is the capital of the Czech Republic?" The probability that none of them will kn..
Bags of tea are sampled to ensure proper weight. The overall average for samples is 8 ounces. Each sample contains 10 bags. The average range is 0.1 ounces.
Can we conclude that there is a positive association between the size of the home and the selling price? Use the .05 significance level.
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