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SeaFair Fashions relies on its sales force of 220 to do initial screening of all new fashions. The company is presently bringing out new line of swimwear and has invited 40 salespeople to its Orlando home office. An issue of the constant concern to SeaFair sales office is the volume of orders generated by each and every salesperson. Last year the entire company average was $417,330 with standard deviation of $45,285. a. What shape do you think the distribution of all possible sample means of 40 will have? Discuss. b. Determine the value of the standard deviation of the distribution of the sample mean of all possible samples of size 40. c. Determine the probability that the sample of 40 will have a sales average less than $400,000. d. How would the answer to part a, b, and c change if the home office brought 60 salespeople to Orlando? Provide the respective answers for this sample size. e. Each year SeaFair invites the sales personnel with sales above the 85th percentile to enjoy a complimentary vacation in Hawaii. Determine the smallest sales level for the sales personnel who were awarded a trip to Hawaii last year. (Assume the distribution of sales was normally distributed last year).
Write a brief note stating the circumstances under which cusum charting may be preferable to normal Shewart charting methods and calculate the mean of the sample values below, and suggest a suitable value for k, the cusum reference value.
Find the equation of the regression line for the given data. What is the predicted value of Y when X = -2? What is the predicted value of Y and find the correlation coefficient between X and Y. Is there a weak or strong, positive or negative corr..
Our judicial system operates under a similar principle
The television networks often compete on the evening of the day of an election to be the first to identify the winner of the election correctly. One of the techniques often used is the random sampling of voters as they exit the polling booths. Suppos..
Heinz, a manufacturer of ketchup, uses a particular machine to dispense 16 ounces of the ketchup into containers. From many years of experience with the particular machine, they know that each container follows a normal distribution with a mean of 16..
Calculate the ANOVA table for the model, which you have determined. What is the estimate of the variance in the electric power measurement?
The Operational experts of Woodbridge Electric have announced a breakthrough in the production process and the mean of the same bulb has increased to 9000 hours and the standard deviation has decreasing to 200 hours (again assume a normal distributio..
Build a regression model
1)Customers enter a store according to a Poisson process of rate A = 6 per hour. Suppose it is known that but a single customer entered during the first hour. What is the conditional probability that this person entered during the first fifteen minut..
Adequacy Equity Exportability Neutrality Simplicity What other tax revenue systems could you consider? How do you think they would be better or worse? 2. What role do taxes play in political issues?
Specialization topic is employee management
What are the different types of non-probability sampling? What are the different types of probability sampling? How would you describe their difference?
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