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Saudi Oil Company has 5000 barrels of Type A oil and 10000 barrels of Type B oil. The company sells two products: Gasoline and Heating Oil. Both products are produced by combining Type A and Type B oil. The "quality level" of Type A oil is 10 and that of Type B oil is 5. Gasoline must have an average quality level of at least 8 and heating oil, at least 6. Demand for each product is created by advertising. Each dollar spent advertising gasoline creates 5 barrels of demand and each spent on heating oil creates 10 barrels of demand. Gasoline is sold for $25 per barrel, and heating oil for $20. Formulate an LP model to help Saudi Oil maximize its profits. (Assume that neither Type A nor Type B oil can be purchased)
(Note: In this problem you have to figure out the decision variables, constraints and objective function)
If a baseball player's batting average is 0.340 or 34%, find the probability that the player will have a bad season and only score at most 60 hits in 200 times at bat?
15 watch between 10 and 15 hrs per week and 10 watch less than 10 hrs per week. Determine whether there is a relationship between education levels and hours spent watching TV.
The firm has already decided that any sample mean below 78 or above 82 will signal the workers that the process is not working properly.
when we pick a point estimator whose sampling distribution is not centered on the population parameter being estimated
Suppose that the results of the sample lead to rejection of the null hypothesis. Classify that conclusion as a:
In your own words, describe the concept of correlation, include the coefficient of correlation (r) and the coefficient of determination (r2) in your description.
Do the independent variables correlate statistically significantly and practically with the dependent variable and Is collinearity between the independent variables a concern?
Create an interactive spreadsheet that allows the viewer to change some of the critical numbers to realize the possible risks involved with different variables.
How did you think that your sample would compare to the national mean? This is your hypothesis. State either the alternate or null hypothesis and identify which one you are stating.
Compute the probability of a stock-out for the order quantities suggested by members of the management team.
a researcher collects data to see if medical insurance type and doctors visits per year are related. he obtains the
How about the standard deviation? Do you think we can make some more intelligent statements about the two instructors when we have the standard deviations?
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