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Waiting times for n = 105 people are independently observed. It was found that 25 peoplewaited less than 2 minutes, 30 people waited between 2 and 9 minutes, and 50 people waitedmore than 9 minutes. A manager is interested in testing whether waiting the time X isexponentially distributed. Recall that the exponential cdf is F(x) = 1 - e -x/λ with mean λ. (a) Under H0 that X is exponential, what is the estimated expected number of people towait less than 2 minutes? Between 2 and 9 minutes? More than 9 minutes? (b) What is the chi-square test statistic for H0? What are the degrees of freedom? (c) With a significance level of 0.05, what is the manager's conclusion? In a study on desired heights, 50 randomly sampled college students were asked to reportactual height and ideal height. The difference between the two variables (ideal minus actual)was also recorded. Summary statistics are shown in the table below.mean stddev actual 63.1 4.1 ideal 65.6 3.9 difference 2.5 2.2 Is there significant evidence that all college students would on average rather be taller? Answer with the appropriate hypothesis test with α = .05.
Apply the EOQ model to the following quantity discount situation in which D=500 units per year, C0=$40, and the annual holding cost rate is 20%. What order quantity do you recommend?
Analyze these data and summarize your findings for managers. Explain how information can be used by decision makers. Assume that sales per customer are normally distributed.
Historically, my HRV fleet averaged 40,000 miles between breakdowns with a 8000 mile standard deviation. I implemented Continuous Improvement teams to research better inspection methods and after the kaizen, I sampled, randomly 30 HRV cars and found ..
Let x be amount of May rainfall in local area, and suppose that x is uniformly distributed over interval three to six inches. Write down the formula for probability curve of x.
Find the probability that a customer with 2 or more late payments will actually default on his payments and, in light of this probability, criticize the manager's credit plan.
On the basis of these results, do you think retailers and consumers have a right to complain to the manufacturers? Why?
A sample of 8 jars has a mean of 15.6 ounces and a standard deviation of 0.3 ounce. Is there enough evidence to support the consumer's conjecture at a = 0.05 and how can this be graphed?
The software manager estimates a value completed of $81,000. What are the cost and schedule variances and CSI. Estimate the time variance.
Determine the 95% confidence interval for true percent of car owners in this city who received the speeding ticket this year. Explain your results to nearest hundredth of percent.
Does this sample give sufficient evidence to conclude that self-esteem scores for group-participation adolescents are significantly different from those of general population? Use two-tailed test with α = .01.
A local bank wants to install motion detector burglar alarms. Each has a 70% chance of detecting a burglar. If the bank wants to be 99% certain of detecting a burglar how many need to be installed?
The profit for product 1 is $6 per unit, and the profit for product 2 is $4 per unit. Solve this model by using graphical analysis.
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