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Chicago's Treadway Tires Dealer must order tires from its national warehouse. It costs $10000 to place an order and $400 to review the inventor level. Annual tire sales are N(20000, 4000000). It costs $10 per year to hold a tire in inventory, and each oerder arrives two weeks after being placed ( 52 weeks = 1 year). Assume that all shortages are backlogged.
a) Eistimate R and the number of orders per year that should be placed.
b) Using the answer in part (a), determine the optimal (R,S) inventory policy. Assume that the shortage cost is $100 per tire.
Construct the sampling distribution of sample means for samples of size 2 selected from this set and construct the sampling distributions of sample ranges for samples of size 2
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Use this information to determine the empirical probability that the next bird to visit the feeding station will be a dove.
A much larger sample would be needed to estimate the proportion of the U.S. Army's 2.4 million active duty and reserve personnel who approved the repeal than would be needed to estimate the proportion of the Marine Corp's 200,000 personnel who fel..
Research shows that the life time of Everlast automobile tires is normally distributed with a mean value of 70,000 miles. What is the probability of having a tire that lasts more than 80,000 miles.
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By using.02 level of significance, carry out a 5-step hypothesis testing procedure to find out if new processes considerably reduced the wait time.
Conduct a marketing experiment in which students are to taste one of two different brands of soft drink
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Is there enough evidence to reject the claim that the average cost of a home in both locations is the same? Use α = 0.01. Clearly mark each of the five steps in hypothesis testing.
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