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Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour. Calculate:
1) Expected average time ( in minutes) a customer spends at the station
2) Average number of cars in the station ( both in line and being washed)
Features of index numbers
There may be two values which occur with the same maximum frequency. The distribution is then called bimodal. In a bimodal distribution, the value of mode cannot be determined with
We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that
what is the independent variable in how energetic do people feel after drinking different types of soft drints?
In 120 tosses of a coin, 45 heads and 75 tails are observed. Is this a balanced coin? Use a=0.05. (Follow the basic steps of hypothesis testing)
Make a decision about the given claim. Do not use any formal procedures and exact calculation. Use only the rare event rule. Claim: A coin favors head when tossed, and there
Properties of correlation
Exercise: (Binomial and Continuous Model.) Consider a binomial model of a risky asset with the parameters r = 0:06, u = 0:059, d = 0:0562, S0 = 100, T = 1, 4t = 1=12. Note that u
whats mean by Double Exponential Smoothing
Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
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