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The failure rate of each machine follows an exponential distribution with a mean time of ten hours and the time required to repair each machine follows an exponential distribution with a mean time o
The administrative cost of placing a costumer on backorder is estimated to be $10. The planned shortage inventory model recommends order quantity Q* = 74 and shortage level S = 20. What is the total
The production set up cost to use this machine is $200 and the production cost of tube is $.38. In Flavin estimates its holding cost rate for tube is 20%, what is the maximum inventory level (rounde
The lead time to receive order from Brightall is 10 days. Pantena Corp. operates 250 days a year. As such, Pantena Corp set the reorder point = 384. After considering the quantity discount and chang
Suppose Q* = 400. Now if the firm is willing to be out of stock of P-2001, an average of no more than two inventory cycles per year, what should be the reorder point (rounded to the nearest integer)
In the basic economic order quantity (EOQ) model, a doubling of estimated annual demand would lead to what change in Q*?
In the basic economic order quantity (EOQ) model, at Q* the estimated total annual holding cost:
An independent-measures research study uses two samples, each with n = 12 participants. If the data produce a t statistic of t = 2.50, what are the correct decisions for a two-tailed hypothesis test
The life expectancy of computer terminals is normally distributed with a mean of 4 years and a standard deviation of 10 months.
If 500 people are randomly selected from the American population, what is the probability of obtaining a sample proportion of 9% or less?
Assuming that the uninsured rate is the same today as it was in 2002, determine the probability distribution for the number, X, who have no health insurance coverage.
What is the probability of obtaining a sample average this low if the process is set up as described above? Take your answer to three decimal places. [Hint: This is a sampling distribution problem.
Give the lower bound of the 95% confidence interval for the true proportion of all CEOs who have MBAs. Take all calculations to three decimal places.
The true highway mileage, Y, of a specific brand of hybrid vehicle has a normal distribution with a mean of 42 and a standard deviation of 1.5. Find the probability that a randomly selected hybrid v
What would the standard deviation of the sampling distribution of the sample proportion be in this case?
Find the probability that the sample mean would be less than 40, to three decimal places. [Hint: Use the correct z-score calculation.
One manufacturer of aspirin claims that the proportion of headache sufferers who experience relief by taking only two pills is 0.53. If this claim is true,
A recent survey asked American adults how often they volunteered for charity. In the sample of 1,974 people, 51 said "more than once per week.
A biased coin is flipped twice. There is a (5/9) probability that it will land heads on at least one of the two flips. What is the smalles number of times that I can flip the coin if I want to be at
A certain distribution X and Distribution Y have the same mean. Both distributions are symmetrical, but Distribution X is more variable than distribution Y. Given this information, we can correctly
A certain type of IQ score has a mean of 106 and a standard deviation of 10. What would the mean of the sampling distribution of the sample mean if samples of size 89 were taken? Round your answer t
An insurance company believes that their policyholders fall into two demographic profiles, A and B. The fraction of policyholders that are of demographic A is ? (with 0 < ? < 1) and the fracti
Suppose you open a new game at the county fair. When patrons win, you pay them $3.00; when patrons lose, they pay you $1.00. If the probability of a patron winning is p = .20, then how much can you
A researcher determines that the probability of missing class among students at a local school is p = .16. Assuming that the school has 300 students enrolled, how many students can we expect to miss