Questions from Business Statistics

Q: Does the distribution of Materials Used look truly bimodal? Or could

Does the distribution of Materials Used look truly bimodal? Or could it reasonably be normally distributed with just a single group?

Q: Is Wallace correct? That is, what percent of Wallace’s production

Is Wallace correct? That is, what percent of Wallace’s production was the more demanding? How does this compare to the other two managers? (Note: you may wish to compare conditional probabilities, giv...

Q: Your telephone operators receive many different types of calls. Requests for

Your telephone operators receive many different types of calls. Requests for information account for 75% of all calls, while 15% of calls result in an actual order. Also, 10%of calls involve both info...

Q: As production manager, you are responsible for the scheduling of workers

As production manager, you are responsible for the scheduling of workers and machines in the manufacturing process. At the end of the day, you will learn how many seat covers were produced. a. Describ...

Q: You have just put in a bid for a large communications network

You have just put in a bid for a large communications network. According to your best information you figure there is a 35% chance that your competitors will outbid you. If they do outbid you, you fig...

Q: The Espresso project will do well with probability 0.80.

The Espresso project will do well with probability 0.80. Given that it does well, you believe the herbal tea project is likely to do well with probability 0.70. However, if the Espresso project does n...

Q: There are 5% defective parts manufactured by your production line,

There are 5% defective parts manufactured by your production line, and you would like to find these before they are shipped. A quick and inexpensive inspection method has been devised that identifies...

Q: There is a saying about initial public offerings (IPOs) of

There is a saying about initial public offerings (IPOs) of stock: “If you want it, you cannot get it; if you can get it, you do not want it.” The reason is that it is often difficult for the general p...

Q: Consider a game in a gambling casino that pays off with probability

Consider a game in a gambling casino that pays off with probability 0.40. Yesterday 42,652 people played, and 17,122 won. a. Find the relative frequency of winning, and compare it to the probability....

Q: Your new firm is introducing two products, a bicycle trailer,

Your new firm is introducing two products, a bicycle trailer, and a baby carriage for jogging. Your subjective probabilities of success for these products are 0.85 and 0.70, respectively. If the trail...