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The Hardware Warehouse is evaluating the safety stock policy for all its items, as identified by the SKU code. For SKU M4389, the company always orders 80 units each time an order is placed. The daily demand is constant, at 5 units per day; the lead time is normally distributed, with a mean of three days and a standard deviation of two days. Holding cost is $3 per unit per year. A 95% service level is to be maintained.
a. What is the standard deviation of demand during the lead time?
b. How much safety stock should be carried, and what should be the reorder point?
c. What is the total annual holding cost?
Suppose the probability of an IRS audit is 1.9 percent for U.S. taxpayers who file form 1040 and who earned $100,000 or more.
For a test at the 0.05 level, what is the critical value of chi-square?- If the calculated value of the chi-square statistic is 8.13, what conclusion would be reached regarding the null hypothesis?
Further discussion of the birthday problem without the assumption of a uniform distribution of birthdays can be found in [Ber80].
Test the hypothesis at the a = .01 level of significance that the proportion p1 of middle school girls who work a summer job before entering high school.
Feeling sleepy? Students in a college statistics class responded to a survey designed by their teacher. One of the survey questions.
Explain why the researchers controlled for the variables described in Statement 2 when looking at the relationship between overweight and proximity.
A sample of participants took part in a hearing experiment. Among other things, the absolute hearing threshold (in decibels) wasmeasured for each participant. The measurements were as follows:
Calculate the approximate probability of rejecting the null hypothesis if the true mean return were equal to
The number of cars passing a checkpoint is treated by a consulting firm as having a poisson distribution with a mean of 20 per minute. What does the firm consider the standard deviation in interarrival times to be?
what is the first big change that american drivers made due to higher gas prices? according to a survey 30 said that it
Want to Be President? Would you want to be the president of the United States? Although many teenagers think that they could grow up to be the president, most don't want the job.
(a) Specify the marginal distribution of X. (b) Specify the marginal distribution of Y. (c) Are X and Y independent? Why or why not?
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