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The normal distribution is one of the most useful distributions that has applications in many business settings. Assume you are a business analyst in Costco, and you want to re-evaluate the replenishment order point to efficiently plan the inventory of fresh produce imported from the USA to satisfy customers' demand while supplying fresh produce. Assuming the daily demand follows a normal distribution, discuss how you would approach this task. What data do you need to collect? And what measures do you need to find? (Hint: think about the probability of stockout during replenishment time.)
How many of this younger age group must we survey in order to estimate the proportion of non-grads to within 6% with 90% confidence?
What is the test for usability of the large sample method for the n times p-hat? - 95 (no decimal)
From the class of all triangles one is selected at random. What is the probability that it is obtuse?
A company's records indicate that on any given day, 1% of their day shift employees and 2% of the night shift employees will miss work. Sixty percent of the employees work the day shift. What percent of employees are absent on any given day?
The table below gives data for the weight of raw opioids recovered from different volumes of foliage of the poppy Papaver somniferum.
(a) What is the probability that the ball was kicked to the left? (b) What is the probability that the ball was kicked left and the goalie jumped left?
If you want to be 95?% confident of estimating the population mean to within a sampling error of ±25 and the standard deviation is assumed to be 125?
find the p-value based on a standard normal distribution for the standardized test statistic and provided alternative
What is the probability that 2 or more would have an IQ greater than 140. Represent your solution as an expression of ?=p(IQ>140) and give ?.
Under what circumstances does the sampling distribution of the proportion approximately follow the normal distribution?
a repeated-measures study comparing two treatments with n 4 participants produces md 2 and ss 75 for the difference
an index of two store items for 2007 based on 2004 is to be constructed. the information for the prices and quantities
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