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Two new york designs are under consideration for possible adoption in an assembly plant. A time study is conducted with 10 workers using design 1, and 12 workers using design 2. The means and standard deviation of their assembly times in minutes are below.
Design 1 Design 2Mean 78.3 minutes Mean 85.6 MinutesStandard Deviation 4.8 Standard Deviation 6.5
Is the mean assembly time significantly higher for work design 2. Test at the 5% level of significance. Defend your position (this means write a brief explanation that the plant manager will understand)
Researchers at Pharm-X, a pharmaceutical company, are testing and comparing the effects of Drug A and Drug B on participants' allergies. The researchers are using a double-blind procedure to conduct their test.
In 2004, Newsmonth reported that 60% of young children have blood lead levels that could impair their neurological development. Assuming that a class in a school is a random sample from the population of all children at risk
Play 100 games of scraps and empirically determine an estimate for the probability of winning.
Using an example from a hospital, create a mock data set for two specific variables of importance within hospital (minimum of 20). The data may be used for quality measures, patient inputs, demographics, financial data, etc.
What should ING's General Counsel do to minimize ING's expected costs?
If the sample standard deviation is s = 10, are the data sufficient to conclude that the treatment has significant effect using a two-tailed test with α = .05?
The random variable x is the number of houses sold by a realtor in a single month at the real-estate office. Its probability distribution is:
Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation between activity and overhead costs.
How does multilinear regression analysis apply to a profession? Specify the dependent value and the set of predictors. Where would you get the data?
If there is one-year warranty on the equipment, what proportion of the customers will actually make a valid warranty claim?
Find out the probability that at least one of the CD's is defective?
Explain the difference between descriptive and prescriptive (optimization) models. Describe how to use Excel data tables, scenario manager, and goal seek tools to analyze decision models.
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