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The following problems must de done using Excel QM: You can save it as an excel file when complete
A. Omar Haaris receives 5,000 tripods annually from Top-Grade Suppliers to meet his annual demand. Omar runs a large photographic outlet, and the tripods are used primarily with 35mm cameras. The ordering cost is $15 per order, and the carrying cost is $0.50 per unit per year. Weekly demand is 100 tripods. What is the optimal order quantity?
B. Based on available information, lead time demand for CD-ROM drives averages 250 units (normally distributed), with a standard deviation of 25 drives. Management wants a 98% service level. How many drives should be carried as safety stock? What is the appropriate ROP?
If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed at less than the mean for that year? Hint: You do not want to calculate the mean to answer this one. The probability wou..
Compute the mean median, and mode
Find the probability
In a game there are 70 people in which 40 are boys and 30 are girls, out of which 10 people are selected at random. One from the total group, thus selected is selected as a leader at random. What is the probability that the person, chosen as the lead..
The National Institute of Mental Health published an article stating that in any one-year period, approximately 9.5 percent of American adults suffer from depression or a depressive illness. Suppose that in a survey of 100 people in a certain town, s..
Describe the four patterns typically found in time series data. What is meant by the expression "decomposition" with regard to forecasting? Briefly describe the process.
Suppose the distribution of the cost of all trips is normal with an average of 112 dollars and a standard deviation of 11 dollars. What is the value of the cost that falls of the 7th percentile?
Regression As a consumer of research, you know that relationships are of critical importance. You must first know if a relationship exists between two variables before you can determine if one variable may account for another. In this week's readings..
in 350 words or more, explain how you might view statistics differently and how you will use statistics in your everyday life. Will you apply what you have learned in this course? How?
1. Imagine yourself at a fair playing one of the midway games. Pick a game and calculate the expected value and post your results along with how you calculated them. For example, you may decide to throw a basketball to try to win a $10 bear. You paid..
Calculate the regression equation for this data
What are the expected values for each alternative? What decision should be made under expected value? What is the EVPI?
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