A retail manager in a discount store wants to establish a policy of the number of cashiers
Question:
a. What kind of theoretical distribution do you think would be appropriate for these data? Why?
b. Run @RISKs fitting procedure on the data. Is the distribution that you choose in part a the best fitting distribution? Does the distribution you choose in part a fit the data closely enough to be chosen?
c. We did not use all the information we had when we ran the preceding fitting procedure. Waiting times can never be negative. Therefore, rerun @RISKs fitting procedure setting the lower bound to be fixed at zero.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Making Hard Decisions with decision tools
ISBN: 978-0538797573
3rd edition
Authors: Robert Clemen, Terence Reilly
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