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Solve different inventory control problems using an appropriate OR method.
A week before the skiing season, a trade fair is organized where skiers can buy or exchange their skiing equipment. A local retailer has decided to sell winter gloves at the trade fair. The retailer can buy gloves for a reasonable price of £20 per pair and sell them for £45 per pair. The retailer can sell all the unsold gloves later on for £15 per pair; however, there will be an additional associated cost of £1 per unsold pair of gloves.
As there is no statistical data, the retailer estimate that they can sell 100, 120, 140, 160, 180, or 200 pairs of gloves, with equal probabilities.
How many pairs of gloves should the retailer order to maximize hi/her profit?
Using the 0.01 significance level, can we conclude that there is a positive correlation between the variables?
This model is fit to the data using the method of least squares using statistical software, and the following ANOVA table is obtained
Calculate descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are the most volatile? Calculate the value of beta for each stock.
Support colour-coding on packaged food to indicate healthier options
Which of the following assumptions for inference about a proportion using a confidence interval are violated,
The chance both flights are full is 0.6. Are the two flights being full independent events and What was the mean ranking for the females in this class
Based on the equation of the least-squares line, we use software to predict the average number of home runs hit per game per team for the year 2001. We obtain the following.
If is the proportion of the next 100 shoppers that buy a packet of the crackers after tasting a free sample, then the probability that fewer than 30% buy a packet after tasting a free sample is approximately.
In which of the following situations is bootstrapping (and other resampling methods) often used and Which of the following is a valid description of the bootstrapping method.
We are establishing a quality control program for a process and need to establish the mean and standard deviation for the process. The first 10 batches had samples of size 5 taken.
Suppose it costs $25 per student for the administrators to provide the course materials.
Find the standard error of the difference in sample means,
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