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Identify and briefly discuss two concepts (Random Variables and Automating Gauge Verification) that you believe are best applicable to professional discipline.
Calculate standard deviation. Why is there variation in the number of raisins in cup of raisin bran? Why might it be difficult for Kellogg to reduce variation?
From this schedule of activities, draw the PERT/CPM network.
Obtain a linear regression line for the data. Compute a correlation coefficient and determine the strength of the linear relationship.
Describe how you would build a regression model that could be used as a screening tool, with mention of the high correlation (colinearity) between SAT and ACT
1) Identify both the activities and the resources for this problem. 2) Formulate a linear programming model for this problem on a spreadsheet.
Analyze the role probability or trend analysis might play in helping address the business problem.
Which of the following violates the assumptions of regression analysis?
Establish a control chart for monitoring the average weights of the bowling balls. What are the values of the control limits?
What is the correlation between the above variables and sales?
A store manager kept track of the number of newspapers sold each week over a seven-week period. The results shown below. Find median number of newspapers sold.
Identify and explain the steps that one must take to be a critical consumer of the news, and describe a time where you failed to be a critical consumer of news
Use a weighted scoring model to choose between three locations (A, B, C) for setting up a factory. The relative weights for each criterion are shown
Research statistical data in a business context that requires a decision. Use probability concepts found in Bayes' Theorem to formulate a decision.
Interpret the results against the industry average
What is the probability that a plane will have a turnaround time of greater than 25 minutes? Draw the appropriate diagram and find the probability.
Solve the transportation problem below using the Northwest Corner method, the Intuitive Lowest-Cost method, and the Stepping-Stone method.
A manufacturing company produces four different models of integrated circuits. Each type of circuit requires material, labor, and machine time.
In this TD, explore the various ways that LP can be used in logistics to obtain optimal results, not only at EBBD, but at any company.
What is the forecast for the 8th year based on a exponential smoothing with alpha = 0.85 (use 6.0 as the first year’s forecast)?
Explain how many surf-boards they should buy, based on the Expected Value Criterion, Minimax Criterion and the Maximax criterion.
On average, how long does a senior citizen wait in line before being served?
Discuss in detail the program evaluation and review technique (PERT) including an explanation of the critical path. Give examples
What is the average waiting time in queue and average time spent in the system?
Calculate the correlation coefficient Calculate the correlation coefficient