Questions from Business Analytics

Q: Suppose that the daily purchase of a stock any given day is

Suppose that the daily purchase of a stock any given day is normally distributed with a mean of 3% and a standard deviation of 0.5%. In predicting the long run market share, a research study shows an...

Q: For the Sunday bazaar model, suppose that the expected crowd is

For the Sunday bazaar model, suppose that the expected crowd is normally distributed with a mean of 4,000 and a standard deviation of 350, and the average expenditure has a triangular distribution wit...

Q: A professional football team is preparing its budget for the next year

A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five diffe...

Q: The owner of Wild World Photography believes that the average number of

The owner of Wild World Photography believes that the average number of safari trail bookings per year can be estimated by triangular distribution with a minimum of 10, a maximum of 22, and a most lik...

Q: A financial consultant has an average of seven customers he consults with

A financial consultant has an average of seven customers he consults with each day; assume a Poisson distribution. The consultant’s overhead requires that he consult with at least five customers per d...

Q: The manager of the extended-stay hotel believes that the number

The manager of the extended-stay hotel believes that the number of rooms rented during any given week has a triangular distribution with minimum 32, most likely 38, and maximum 50. The weekly price is...

Q: A manufacturing company is considering investing in a new machine that costs

A manufacturing company is considering investing in a new machine that costs €38,000. Its use is expected to generate a cash flow of about €10,000 per year for each of the next five years. However, th...

Q: Cinéma Le Méliès is a small movie theatre in Grenoble, France

Cinéma Le Méliès is a small movie theatre in Grenoble, France. After the release of a typical, widely anticipated Marvel movie, such as the Avengers: Endgame, the number of adult and children’s ticket...

Q: A college graduate who is living in Edinburgh, the United Kingdom

A college graduate who is living in Edinburgh, the United Kingdom, expects to earn a monthly salary of £598. The Excel file UK Cost of Living shows the comparative salaries in other citie...

Q: The Oxford Theater produces plays and musicals for a regional audience.

The Oxford Theater produces plays and musicals for a regional audience. For a typical performance, the theater sells at least 250 tickets and occasionally reaches its capacity of 600 seats. Most often...