Q: Return to the example used in the chapter of two machines filling
Return to the example used in the chapter of two machines filling bottles of shampoo. One machine had a mean of 500 ml, SD 10 ml, the other a mean of 750 ml, SD 15 ml. For each machine calculate the l...
See AnswerQ: Return to the Worked Example in this chapter. After conducting market
Return to the Worked Example in this chapter. After conducting market research we have found that the possibility of a customer in the top 5 per cent group switching to a competitor is 0.85 if we do n...
See AnswerQ: The finance department of a large organization has responsibility for monitoring costs
The finance department of a large organization has responsibility for monitoring costs in other departments of the organization. A photocopier facility is available for one department’s use and data h...
See AnswerQ: A large retail store buys an item from a supplier in batches
A large retail store buys an item from a supplier in batches of 100. Because of the delicate nature of the item some are inevitably damaged in transit between the supplier and the store and the price...
See AnswerQ: A small firm has recently purchased a new PC system comprising a
A small firm has recently purchased a new PC system comprising a colour monitor, a CPU, a laser printer and a keyboard. The supplier of the equipment states that the chance of any one of the component...
See AnswerQ: On average last year a local leisure centre had 230 customers per
On average last year a local leisure centre had 230 customers per day, standard deviation 27, and the distribution of customers was found to be Normal. Determine the probability that on any one day th...
See AnswerQ: An auditor is checking invoices that have been paid to see if
An auditor is checking invoices that have been paid to see if they contain any errors. Historically around 7 per cent of all invoices are expected to contain some error. The auditor takes a random bat...
See AnswerQ: An enterprising MBA graduate who has been unable to find gainful employment
An enterprising MBA graduate who has been unable to find gainful employment has taken to visiting an office block in town each lunch time with an array of freshly made sandwiches for sale. The graduat...
See AnswerQ: A supermarket sells one particular item in its store on a regular
A supermarket sells one particular item in its store on a regular basis. It currently has 750 units of this item in stock and no deliveries are expected until next week. The manager knows that average...
See AnswerQ: You have the choice of investing a sum of money in four
You have the choice of investing a sum of money in four alternative schemes: (a) one which will pay 10 per cent per annum interest compounded daily; (b) one which will pay 10.25 per cent per annum int...
See Answer
