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Assume that the best buy store has a policy of ordering cellphones from motorola in lots of 500. weekly demand for motorola cellphones at the store is normally distributed, with a mean of 300 and standard deviation of 200. Motorola takes two weeks to supply an order. if the store manager is targeting a fill rate of 99%, what safety inventory should the store carry? What should its ROP be?
Define the decision rule. Calculate the value of the test statistic.
Which of these variables are discrete and which are continuous random variables?
When using the distribution of sample means to estimate the population mean, what is the benefit of using larger sample sizes?
Do sit down restuarant franchises and fast food franchises differ significantly in stock price? Specifically, is the average stock price for sit-down restaurants different from the average stock price for fast food restaurants?
Computing the Z scores for the given data and evaluate µ and σ for the population.
The ages of circulating pennies are right skewed. Most circulating pennies were minted relatively recently, and extremely old pennies are rare. Assume the ages of circulating pennies have a mean of 12.2 years and a standard deviation of 9.9 years.
If we wanted to shorten the interval of the estimation of the true mean of Saturday sales to a width of $600 in total, what should the size of our sample be to achieve it?
An internal study by the Technology Services department at Lahey Electronics revealed company employees receive an average of 3.3 emails per hour. Assume the arrival of these emails is approximated by the Poisson distribution.
The Absent Minded Professor study was a RCT, which had an objective to estimate the protective effect of drug "No-Reminder" compared to drug "Reminder" on risk of "Forgetful syndrome". The study found that the drug "No-Reminder" was protective.
A customer wants to estimate the average delivery time of a pizza from the local pizza parlor. The customer wants to obtain a sample mean that falls within 3.204 minutes of the true average delivery time with 99% confidence. If the customer knows ..
What is the probability that the project will be completed in 17 months or less?
Using Sally's estimate of demand that follows, how many T-shirts should she produce for the upcoming event?
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