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Suppose that the demand for a company's product in weeks 1, 2, and 3 are each normally distributed and the mean demand during each of these three weeks is 50, 45, and 65, respectively. Suppose the standard deviation of the demand during each of these three weeks is known to be 10, 5, and 15, respectively. It turns out that if we can assume that these three demands are probabilistically independent then the total demand for the three week period is also normally distributed. And, the mean demand for the entire three week period is the sum of the individual means. Likewise, the variance of the demand for the entire three week period is the sum of the individual weekly variances. But be careful! The standard deviation of the demand for the entire 3 week period is not the sum of the individual standard deviations. Square roots don't work that way!
Now, suppose that the company currently has 180 units in stock, and it will not be receiving any further shipments from its supplier for at least 3 weeks. What is the probability that the company will run out of units?
A property of concern for any food company that uses a high-speed carton-filling machine to package juice is the weight of the food product in the individual cartons.
the average number of mosquitos in a stagnant pond is 70 per square meter with a standard deviation of 12. if 9 square
How many commuters must be randomly selected to estimate the mean driving time of Chicago commuters? We want 98% confidence that the sample mean is within 2 minutes of the population mean.
A bag contains five purple ("P") blocks and one yellow ("Y") blocks. Without looking into the bag you reach in, take out a block, return the block to the bag, and then repeat the same process a number of times. Which of the following sequences of ..
The standard deviation of the sample was 6 people. Develop a 95 percent confidence interval for the population mean.
A study of 20 worldwide financial institutions shows the correlation between their assets and pretax profit to be .86. At the .05 significant levels, can we conclude that there is positive correlation in the population?
one of your companys products a flux capacitor is known to have an exponential failure time distribution with a mean
Bruce Kuhlman, owner of Kuhlman Farms, wishes to use brand of fertilizer which will produce maximum yield per acre of wheat. Mr. Kuhlman can select from four different commercial brands. Write down the hypotheses?
The English Department wants to know whether there is a difference in the proportions of female students taking Eng 110 and Eng 100 courses. Samples are collected from each class: Eng 110 sample found 16 out of 29 students in class and Eng 100 ..
A company's net sales is $ million from 1993-2002, determine the least squares equation and based on this info, what are the estimated sales for 2005?
Probability of fair market is 0.4, and probability of bad market is 0.2, and he wants to maximize his long-run average return. Create the decision table for this problem.
to test for any significant difference in the number of hours between breakdowns for four machines the following data
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