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mathematics
statistics

Questions and Answers of Statistics

The wedding date for a couple is quickly approaching, and the wedding planner must provide the caterer an estimate of how many people will attend the reception so that the appropriate quantity of
Rock-Paper-Scissors is a simple game in which two players compete by simultaneously choosing rock, paper, or scissors. According to the classic rules of the game, paper beats rock, scissors beats
In American football, touchdowns are worth 6 points. After scoring a touchdown, the scoring team may subsequently attempt to score one or two additional points. Going for one point is virtually an
Players in a particular sports league are classified based on the amount of time they play as backups or starters. Players can also become seriously injured or they can retire from competition.
Develop a spreadsheet model that could be used to assist a user with retirement planning. Your model should include the following input parameters:User’s Current Age = 40 yearsUser’s Current
A few years back, Dave and Jana bought a new home. They borrowed $230,415 at a fixed rate of 5.49% (15-year term) with monthly payments of $1,881.46. They just made their twenty-fifth payment and the
A firm recently built a new plant that will use more than 50 production lines and machines to produce over 500 different products. The production scheduling decisions are critical because sales will
Suppose a manager must choose between the following two mathematical models of a given situation: (a) a relatively simple model that is a reasonable approximation of the real situation and (b) a
A long-distance telephone company uses a fiber-optic network to transmit phone calls and other information between locations. Calls are carried through cable lines and switching nodes. A portion of
A chemical processing plant has a network of pipes that are used to transfer liquid chemical products from one part of the plant to another. The following pipe network has pipe flow capacities in
Suppose 150 shoppers at an upscale mall are interviewed and one of the questions asked is the household income. Study the Minitab histogram of the following data and discuss what can be learned about
A company's customer service 800 telephone system is set up so that the caller has six options. Each of these six options leads to a menu with four options. For each of these four options, three more
A company places a seven-digit serial number on each part that is made. Each digit of the serial number can be any number from 0 through 9. Digits can be repeated in the serial number. How many
A city’s telephone book lists 100,000 people. If the telephone book is the frame for a study, how large would the sample size be if systematic sampling were done on every 200th person?
If every 11th item is systematically sampled to produce a sample size of 75 items, approximately how large is the population?
Give an example of how judgment sampling could be used in a study to determine how district attorneys feel about attorneys advertising on television.
Give an example of how convenience sampling could be used in a study of Fortune 500 executives to measure corporate attitude toward paternity leave for employees.
The High-Price Oil Company owns a pipeline network that is used to convey oil from its source to several storage locations. A portion of the network is as follows:Due to the varying pipe sizes, the
The email server at Rockbottom University has been experiencing downtime. Let us assume that the trials of an associated Markov process are defined as one-hour periods and that the probability of the
What are the three categories of business analytics?
Katherine D’Ann, from Problem 1-18, has become concerned that sales may fall, as the team is on a terrible losing streak, and attendance has fallen off. In fact, Katherine believes that she will
Mysti Farris (see Problem 1-20) is considering raising the selling price of each cue to $50 instead of $ 40. If this is done while the costs remain the same, what would the new break-even point be?
Mysti Farris (see Problem 1-20) believes that there is a high probability that 120 pool cues can be sold if the selling price is appropriately set. What selling price would cause the break-even point
Zoe Garcia is the manager of a small office support business that supplies copying, binding, and other services for local companies. Zoe must replace a worn-out copy machine that is used for black
Although Ken Brown (discussed in Problem 3-17) is the principal owner of Brown Oil, his brother Bob is credited with making the company a financial success. Bob is vice president of finance. Bob
In Problem 3- 27, Farm Grown, Inc. has reason to believe the probabilities may not be reliable due to changing conditions. If these probabilities are ignored, what decision would be made using the
Mick Karra is the manager of MCZ Drilling Products, which produces a variety of specialty valves for oil field equipment. Recent activity in the oil fields has caused demand to increase drastically
Refer to the Problem 3-33 for details about the game of roulette. Another bet in a roulette game is called a “straight up” bet, which means that the player is bet-ting that the winning number
The physicians in Problem 3-36 have been approached by a market research firm that offers to perform a study of the market at a fee of $ 5,000. In Problem 3-36, A group of medical professionals is
Jerry Smith (see Problem 3-38) has done some analysis about the profitability of the bicycle shop. If Jerry builds the large bicycle shop, he will earn $ 60,000 if the market is favorable, but he
In Problem 3-37, you helped the medical professionals analyze their decision using expected monetary value as the decision criterion. This group has also assessed their utility for money: U(–$
1. Does Steve need additional information from Iverstine and Walker?2. What would you recommend?In 1979, Steve Blake founded Blake Electronics in Long Beach, California, to manufacture resistors,
Describe what it means for two events to be independent.
A card is drawn from a standard deck of playing cards. For each of the following pairs of events, indicate if the events are mutually exclusive and indicate if the events are exhaustive. (a) Draw a
The lost Israeli soldier mentioned in Problem 2-21 decides to rest for a few minutes before entering the desert oasis he has just found. Closing his eyes, he dozes off for 15 minutes, wakes, and
Using the data in Problem 4-10, test to see if there is a statistically significant relationship between sales and YouTube views at the 0.05 level of significance. Use the formulas in this chapter
Using the data in Problem 4-13, test to see if there is a statistically significant relationship between the grade on the first test and the final average at the 0.05 level of significance. Use the
Use the data in Problem 4-22 and develop a regression model to predict selling price based on the square footage and number of bedrooms. Use this to predict the selling price of a 2,000-square-foot
Use the data in Problem 4-26 to develop a multiple linear regression model. How does this compare with each of the models in Problem 4-26?In Problem 4-26, A sample of 20 automobiles was taken, and
Use the data in Problem 4-26 to find the best quadratic regression model. (There is more than one to consider.) How does this compare to the models in Problems 4-26 and 4-27?In Problem 4-27, Use the
In 2012, the total payroll for the New York Yankees was almost $ 200 million, while the total payroll for the Oakland Athletics (a team known for using base-ball analytics or sabermetrics) was about
The number of victories (W), earned run average (ERA), runs scored (R), batting average (AVG), and on- base percentage (OBP) for each team in the American League in the 2012 season are provided in
Prepare Peg Jones€™s response to Stephen Ruth.In January 2012, Northern Airlines merged with Southeast Air-lines to create the fourth largest U. S. carrier. The new North€“South
Using MAD, determine whether the forecast in Problem 5-15 or the forecast in the section concerning Wallace Garden Supply is more accurate.In Problem 5-15, Develop a four-month moving average
In Problems 5-17 and 5-18, three different fore-casts were developed for the demand for fertilizer. These three forecasts are a 3-year moving average, a weighted moving average, and a trend line.
How would the forecast for week 25 of the previous problem change if the initial forecast was 40 instead of 50? How would the forecast for week 25 change if the forecast for week 1 were assumed to be
Resolve Problem 5-31 with α = 0.3. Using MAD, which smoothing constant provides a better forecast?In Problem 5-31 Consulting income at Kate Walsh Associates for the period February–July has been
Using the data in Problem 5-33, develop a multiple regression model to predict sales (both trend and seasonal components), using dummy variables to incorporate the seasonal factor into the model.In
Refer to the DJIA data in Problem 5- 39.In Problem 5-39, The following table provides the Dow Jones Industrial Average (DJIA) opening index value on the first working day of 1994€“2013:
For the data in Problem 5-42, develop an exponential smoothing model with a smoothing constant of 0.3. Using the MSE, compare this with the model in Problem 5-42.In Problem 5-42, The following table
If the ROP is greater than the order quantity, explain how the ROP is implemented. Can the ROP be more than twice the order quantity and, if so, how is such a situation handled?
Briefly explain the marginal analysis approach to the single period inventory problem.
In Problem 6-20 you helped Lila Battle determine the optimal order quantity for number 6 screws. She had estimated that the ordering cost was $ 10 per order. At this time, though, she believes that
Upon hearing that Ross White (see Problems 6-27 and 6-28) is considering producing the brackets in-house, the vendor has notified Ross that the purchase price would drop from $15 per bracket to $
Consider the Emarpy Appliance situation in Problem 6-56. If Richard Feehan wants to minimize the total annual inventory cost, how many refrigerators should be produced in each production run? How
Given the information in Problem 6-58, develop a gross material requirements plan for 50 units of item A.In Problem 6-58, this chapter presents a material structure tree for item A in Figure
Blair H. Dodds, III, runs a medium-to-large-sized home eBay business dealing in vintage photographs. The annual demand for his photos is approximately 50,000. The annual overhead cost (excluding the
Refer to Problem 6-64. Develop a net material requirements plan assuming that there are currently 150 units of Part A, 40 units of Part B, 50 units of Subassembly C, and 100 units of Part F currently
Referring to the Texas Lotto situation in Problem 7-20 suppose the investor has changed his attitude about the investment and wishes to give greater emphasis to the risk of the investment. Now the
Outdoors Inn (see Problem 7-41) expanded its tent-making operations later in the year. While still making the Double Inn tent, it is also making a larger tent, the Family Rolls, which has four rooms.
A paper mill produces rolls of paper that are 10 inches wide and 100 feet long. These rolls are used for creating narrower rolls of paper that are used in cash registers, automatic teller machines
1. Develop a schedule for hiring new employees. What is the total cost of this schedule?2. Discuss any limitations that exist for this solution.3. How would the schedule change if the attrition rate
The integer programming problem on the following page has been developed to help First National Bank decide where, out of 10 possible sites, to locate four new branch offices: where Xi represents
Using the data from Problem 9-20 plus the unit production costs shown in the following table, which locations yield the lowest cost?Location Production CostsDecatur ........... $
In Problem 9-24, the minimum travel distance was found. To see how much better this solution is than the assignments that might have been made, find the assignments that would give the maximum
The German towns around the Black Forest are rep-resented by nodes in the network below. The dis-tances between towns is shown in kilometers. Find the shortest route from city 1 to city 16. If
1. Develop a flight operations map that still serves each of the nine cities, but maximizes the company€™s profit per passenger.2. Comment on how the 16 jets should be assigned.Northeastern
What is crashing, and how is it done by hand?
The Laurenster Corporation needs to perform the following tasks in weeks.Determine the associated PERT network diagram and determine the probability that the project will be complete in 16 weeks or
The Laurenster Corporation has determined the client will pay them a $ 10,000 bonus if they complete the project in Problem 11-33 in 14 weeks or less.In Problem 11-33, The Laurenster Corporation
For the post office in Problem 12-17, a second drive-through window is being considered. A single line would be formed and as a car reached the front of the line it would go to the next available
Truck drivers working for Juhn and Sons (see Problems 12-19 and 12-20) are paid a salary of $ 20 per hour on average. Fruit loaders receive about $ 12 per hour. Truck drivers waiting in the queue or
Juhn and Sons Wholesale Fruit Distributors (of Problem 12-19) are considering building a second platform or gate to speed the process of loading their fruit trucks. This, they think, will be even
Refer to the Billy’s Bank situation in Problem 12-24. Billy is considering adding a second teller (who would work at the same rate as the first) to reduce the waiting time for customers, and he
For the Billy’s Bank situation in Problems, the salary and benefits for a teller would be $12 per hour. The bank is open 8 hours each day. It has been estimated that the waiting time cost per hour
Ye Olde Creamery, a popular ice cream store on campus, has one line for its tasty treats. Students arrive at the Creamery about one every minute. Because of the new automated “Wave N Pay” payment
List five of the simulation software tools that are available today.
Compute the expected number of cars arriving in Problem 13-15 using the expected value formula. Compare this with the results obtained in the simulation.In Problem 13-15 The number of cars arriving
Refer to the data in Solved Problem 13-1, which deals with Higgins Plumbing and Heating. Higgins has now collected 100 weeks of data and finds the following distribution for sales: Hot Water
Repeat the simulation in Problem 13-21, assuming that the reorder point is 4 units rather than 2. Compare the costs for these two situations.In Problem 13-21, Dumoor Appliance Center sells and
1. Determine and comment on the overall yield (the number of batches that make it all the way through Furnace L divided by the number that started at Furnace A) of disc brakes at FB Badpoore. 2.
Resolve Problem 14- 12 (Goodeating Dog Chow) for five periods.In Problem 14- 12, Goodeating Dog Chow Company produces a variety of brands of dog chow. One of their best values is the 50-pound bag of
In Section 14.7, we investigated an accounts receivable problem. How would the paid category and the bad debt category change with the following matrix of transitionprobabilities?
Find the equilibrium conditions for Problem 14-24. Explain what it means.In Problem 14-24, Set up both the vector of state probabilities and the matrix of transition probabilities given the following
The first quick-oil-change store in Problem 14-28 retains 73% of its market share. This represents a probability of 0.73 in the first row and first column of the matrix of transition probabilities.
For Problem 15-16, develop upper and lower con-trol limits for the range. Do these samples indicate that the process is in control?In Problem 15-16, Colonel Electric is a large company that produces
Ray Bond, from Problem 1-16, is trying to find a new supplier that will reduce his variable cost of production to $ 15 per unit. If he was able to succeed in reducing this cost, what would the
How is the impact of seasonality removed from a time series?
In using the decomposition method, the forecast based on trend is found using the trend line. How is the seasonal index used to adjust this forecast based on trend?
Using the DJIA data in Problem 5-39, use exponential smooth with trend adjustment to forecast the opening DJIA value for 2014. Use Î± = 0.8 and Î² = 0.2. Compare the MSE for
Let the annual demand for an arbitrary commodity be 1,000 units per year and the associated EOQ be 400 units per order. Under this circumstance the number of orders per year would be (D / Q) = 2.5
What happens to the production run model when the daily production rate becomes very large?
Find π(2) for Problem 14-24.In Problem 14-24, Set up both the vector of state probabilities and the matrix of transition probabilities given the following information: Store 1 currently has 40% of
The following digraph represents the changes in weather from one day to the next in Erie, Pennsylvania.Determine the associated transition matrix and the probability that it will be cloudy in three
The following digraph represents the changes in weather from one day to the next in Lowell, Massachusetts.Determine the associated transition matrix and the overall percentage of sunnydays.
Upon arrival at the Sunkist Gate at Naval Base Ventura County in Port Hueneme, California, there are two security guards, each assigned to one of the two vehicular lanes that lead up to the gate, to
Why is the central limit theorem so important in quality control?
Explain what it means for an assignment model to be balanced.
Explain the purpose of the transshipment constraints in the linear program for a transshipment model.
Explain how the maximal-flow model might be viewed as a transshipment model.

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