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Random number generation based on discrete distribution.
First American Bank is trying to determine whether it should install one or two drive-through teller windows. The following probability distributions for arrival intervals and service times have been developed from historical data:
Time Between Arival
Probability
1
0.2
2
0.6
3
0.1
4
Service Time (In Min)
0.4
5
6
Assume that in the two-server system, an arriving car will join the shorter queue. When the queues are of equal length, there is a 50-50 chance the driver will enter the queue for either window.
a. Simulate both the one-and two-teller systems. Compute the average queue length, waiting time, and percentage utilization for each system.(using excel)
b. Discuss your results in (a) and suggest the degree to which they could be used to make a decision about which system to employ.
The probability of drawing two diamonds (to complete a flush) after discarding the 5 and 7.
Examined the effect of body position on blood pressure
An experiment was performed to investigate lifetime of a component exposed to high heat. Three different oven types were used at either 550°F or 600°F.
Find out the decision strategy company must follow, expected value of strategy, and maximum amount the company must pay market research firm for survey results.
Produce the scatter plot for sodium and bp. Do you think there are any outliers?
Is there a significant difference between the scores between the Republicans and the Democrats?
Pick a random sample of 50 homes from the enclosed 90 cases. Double the asking price and selling price and use this data to develop three predictive models:
By using this data and incorporating seasonal effects, predict quarterly turnover for 2010.
Caselet on McDonald’s vs. Burger King - Waiting time
As we can say there is 5.5 percent chance of seeing the current policy having an effect on smog in the results we observed from natural sampling variation.
Calculate the standard error. With 95% confidence, find out the margin of error?
At the .01 significance level can we conclude the mean age is more than 8.4 years for the cars of university students? Compute the value of the test statistic.
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