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1. Using the Internet resources, find an example of a linear optimization model used in industry. Describe which industry it is or was used in and briefly discuss the problem or challenge it addressed. 2. Which business functions are more likely to use optimization models than others and why?
Suppose an airport scanning device has 98% accuracy in detecting certain kinds of metal objects (98% of people carrying these objects are correctly identified as carriers and 98% of people not carrying them are correctly identified as non-carriers..
The software manager estimates a value completed of $81,000. What are the cost and schedule variances and CSI. Estimate the time variance.
Carpet City wants to develops a means to forecast it carpet sale. The store manager believes that the store's sale are directly related to the number of new housing starts in town.
The primary difference between an ordinal level and inteval level variable is: an ordinal level variable has a meaningful zero point while the inteval level variable has no zero point
Which statement is true for a statistical study?
You play a game with two possible outcomes. Outcome A has probability 0.4 and outcome B has probability 0.6. When B occurs you win $2.00; otherwise, you lose $1.00. What is your expected value for this game?
Distributed with a mean of $150 and standard deviation of $25. About how many of the students spend less than $100 on books?
State the null and alternate hypotheses if you want to determine whether the mean amount spent is higher for men than for women,
The point estimate for the difference between the proportions is:
Compute sample mean. Assume that desirable value for this solution has been specified to be 65.0 grams per liter. Compute sample variance and sample standard deviation.
If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than Arc?
Five have a 3/10,000 chance for failure. Four have a 4/10,000 chance for failure. One componet has a 1/100 chance for failur. What is the overall reliability of the product?
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