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An urn contains 3 green balls, 2 blue balls, and 4 red balls. In a random sample: of 5 balls, find the probability that both blue balls and at least 1 reel ball are selected.
Let X1 be the number of times he encounters a green light, X2 be the number of times he encounters a yellow light, and X1 be the number of times he encounters a red light. Find the joint distributio
Find the formula for the probability distribution of X representing the number on the tag that is drawn. What is the probability that the number drawn is less than 4?
An electronics firm claims that the proportion of defective units of a certain process is 5%. A buyer has a standard procedure of inspecting 15 units selected randomly from a large lot. On a particu
Seasonal indices for the four quarters have been found to be 1.30, 0.90, 0.70, and 1.10, respectively. Compute a seasonalized or adjusted sales forecast.
With a major expansion planned, Judy projects sales next year to increase to 1,200 radials. What will the demand be each season?
Develop the equation for the linear trend component for the time series. Use the linear trend developed in part (b) to prepare a forecast for sales in year 8.
For the 2001-2002 National Basketball Association season, Philadelphia 76ers Allen Iverson was the scoring leader with an average of 31.4 points per game.
Compare a three-month moving average forecast with an exponential smoothing forecast for a = 0.2. Which provides the better forecasts?
Compute the exponentially smoothed forecast of calls for each week. Assume an initial forecast of 50 calls in the first week and use ? = 0.1. What is the forecast for the 25th week?
Explain what would happen if the smoothing constant in an exponential smoothing model was equal to zero. Explain what would happen if the smoothing constant was equal to one.
What percentage of the workers receive wages between S13.75 and S16.22 an hour inclusive? The highest 5% of the employee hourly wages is greater than what; amount?
A commonly used practice of airline companies is to sell more tickets than actual seats to a particular flight because customers who buy tickets do not always show up for the flight. Suppose that t
A lawyer commutes daily from his suburban home to his midtown office. The average time for a one-way trip is 24 minutes, with a standard deviation of 3.8 minutes. Assume the distribution of trip tim
What is the probability that, the claim will be rejected when the cure probability is, in fact, 0.8? What is the probability that the claim will be accepted by the government when the cure probability
A bus arrives every 10 minutes at a bus stop. It is assumed that the waiting time for a particular individual is a random variable with a continuous uniform distribution.
A coin is tossed 400 times. Use the normal-curve approximation to find the probability of obtaining
What is a balanced transportation problem? Describe the approach you would use to solve an unbalanced problem.
In an opinion poll it is assumed that an unknown proportion p of the people are in favor of a proposed new law and a proportion 1 - p are against it. A sample of n people is taken to obtain their op
The Rockwell Electronics Corporation retains a service crew to repair machine breakdowns that occur on an average of ( = 3 per day (approximately Poisson in nature). The crew can service an average
Compare a 3-month moving average forecast with an exponential smoothing forecast using a = 0.2. Which provides the better forecasts?
Deseasonalize the data, and use the deseasonalized time series to identify the trend. Use the results of part (a) to develop a quarterly forecast for next year based on trend.
Consulting income at Kate Walsh Associates for the period February-July has been as follows:
Develop three- and four-month moving averages for this time series. Which moving average provides the better forecasts? Explain.
Use the gasoline sales time series data from Table to show the exponential smoothing forecasts using a = 0.1. Using the mean squared error criterion, would you prefer a smoothing constant of a = 0.1