Kind of theoretical distribution

Assignment Help Basic Statistics

Reference no: EM13981503

A retail manager in a discount store wants to establish a policy of the number of cashiers to have on hand and also when to open a new cash register. The first step in this process is to determine the rate at which customers arrive at the cash register. One day, the man- ager observes the following times (in minutes) between arrivals of customers at the cash registers:

0.1	2.6	2.9	0.5
1.2	1.8	4.8	3.3
1.7	0.2	1.5	2.0
4.2	0.6	1.0	2.6
0.9	3.4	1.7	0.4

a Plot a CDF based on these data.

b What kind of theoretical distribution do you think would be appropriate for these data? Why?

c Calculate the sample mean and sample standard deviation of the data, and use these to estimate parameters for the theoretical distribution chosen in part b.

d Plot a few points from the CDF of your theoretical distribution, and draw a smooth curve through them. How does this theoretical curve compare to the data-based CDF?

Reference no: EM13981503

Questions Cloud

Consider a competitive industry with several firms : Consider a competitive industry with several firms all of which have the same cost function, c(y) = y2 + 4 for y > 0 and c(0) = 0. The demand curve for this industry is D(p) = 50 − p, where p is the price. What is the long-run equilibrium number of f..

Find amount of labor input that maximizes farm surplus : Consider a production cooperative wish just two farmers. Each farmers chooses independently how much labor to supply to the cooperative. Each unit of labor is supplied at an opportunity cost of w. output is produced by means of a standard production ..

What fundamental changes took place in the revised matrix : What fundamental changes took place in the revised matrix above, which made the situation quite different from the original payoff matrix at the beginning? Please be succinct and to the point in your explanation.

The cactus corporation is considering investing : The Cactus Corporation is considering investing in a project A with a 2-year life. An initial investment of $600 must be made now, and the following real cash inflows with their associated probabilities are expected to begin a year from now:

Kind of theoretical distribution : Plot a CDF based on these data. What kind of theoretical distribution do you think would be appropriate for these data? Why?

Evaluate of website based on the visibility and affordance : Evaluate of the website based on the visibility and affordance. Does the website optimal balance between the number of pages refreshes and delay between page refreshes? Would your answer change if you were using a different network, or assessing th..

To get going with your business very quickly : To get going with your business very quickly, you plan to buy an existing business. You expect the business you are buying to have an after tax cash flow $8 million per year for the next 5 years. Your WACC is 10% returns. What is the maximum amount y..

Details:research the current value : Details:Research the current value of the following economic indicators: GDP CPI

What is the price and quantity produced in both markets : GoPro holds a monopoly in two countries where it sells video cameras, USA and Canada. The demand functions for the two regions are, GoPro has a unique manufacturing process where it can produce each video camera for $20. Assume there are very strict ..

User Account

All Pages