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Deacon Production Company faces the following demands during the next three weeks: week 1, 20 units; week 2, 10 units; week 3, 15 units. The unit production costs during each week are as follows: week 1, $13; week 2, $14; week 3, $15. A holding cost of $2/unit is assessed against each week's ending inventory. At the beginning of week 1, the company has 5 units on hand. In reality, not all goods produced during a month can be used to meet the current month's demand. To model this fact, we assume that only half of the goods produced during a week can be used to meet the current week's demand (assume that all of the prior week's ending inventory can be used to meet the current week's demand). Determine how to minimize the cost of meeting the demand for the next three weeks.
For the mold described in (g), can you find the probability that it's COST value will exceed $150,000? If yes, obtain this probability. If no, why not?
In a regression model involving 30 observations, the following estimated regression equation was obtained:
Interpret the correlation between each set of variables.
Here are fifty observations on the weight of tea bags. Create mean, mode and median.
You construct a 90% confidence interval for the average stock price to be (267.348, 279.472). Of the following choices, what is the approporiate interpretation of this interval?
What can you tell me about the direction, strength and significance of this association and What would you expect for somebody without any formal education whatsoever and what can you tell me about the nature of this relationship?
In Colorado Springs the newspaper runs mug shots of wanted criminals. The 17% of those published are arrested through information provided to the police. If 200 are published, find the probability that less than 30 are arrested.
Suppose that sales of lemonade and sales of brownies are independent, determine standard deviation in his revenue.
Researchers routinely choose an alpha level of 0.05 for testing their hypotheses. What are some experiments for which you might want a lower alpha level (e.g., 0.01)? What are some situations in which you might accept a higher level (e.g., 0.1)?
A market survey was conducted to estimate the proportion of homemakers who would recognize the brand name of a cleanser based on the shape and color of the container. Of the 1,4000 homemakers sampled, 420 were able to identify the brand by name.
A random sample of five accidents resulted in the following number of persons injured: 18, 15, 12, 19, & 21. Using the .01 significance level, can we conclude the population mean is less than 20 for all accidents?
Compose a 350 to 700-word summary report of your findings to the researcher and owner of the restaurant in which you Identify evidence, if any, of the researcher's claim. Perform a one- or two-tail test on the data provided,
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