Weighted moving average forecast
The following sales data are available for 2003-2008.
Year Demand2003 72004 122005 142006 202007 162008 25
Determine a 4-year weighted moving average forecast for 2009, where weights are W1 = 0.1, W2 = 0.2, W3 = 0.2 and W4 = 0.5.
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A machine has 9 identical components that function independently. The probability that a component will fail is 0.2. The machine will stop working if more than three components fail. Find the probability that the machine will be working?
Use frequency and relative frequency distributions to summarize the data.
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Jan Richards is in charge of the testing laboratory for Southwest Chemicals, Inc. She is investigating the possibility of acquiring some new testing equipment.
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