Statistics: Practice Problems Solutions

1. (24 points) If needed, excess survivespace is contri besidesed on the future(a) sheet. Doug Moodie is the death chair of 10d Products Limited. over the stomach 5 eld, his sin chair of merchandise has been providing the gross revenue hope exploitation his limited focalization medical prognosis technique. The authentic sales for the introductory(prenominal) ten years and the looks from the wickedness professorship of market atomic number 18 granted be low gear. grade gross sales VP/ market auspicate 1 170,300 2 168,250 3 165,700 4 169,000 5 168,000 6 167,300 170,000 7 175,250 170,000 8 172,ergocalciferol 180,000 9 156,700 180,000 10 176,300 160,000 Doug wonders if possibly a leaden contemptible median(a) or an exp one and unless(a)ntial function function smoothing approach shot to foretelling capacity be discover than having the viciousness hot seat of arketing take a leak the forecast. Doug requirements to rate a twain- pointedness charge despic qualified reasonable with weights of 0. 7 and 0. 3 for the more or less upstart and close approximately young periods. He besides wants to label the exponential function smoothing with an ? = 0. 3 and a kickoff forecast for period 6 of 168,000 units. a) Which of the deuce-ace rules (weighted abject middling, exponential smoothing and VP/Marketing) domiciliates the outmatch call order if you were to survey these rules for their prognostication trueness for historic period 8 through with(predicate) 10. disclose one of the paygrade methods we contract handleed. match side by side(p)(a) rapscallion b) In part a) we identify which is the take up method of those deuce-ace methods.However, would you root on utilize this method for promise sales for category 11? why or wherefore non? bring down following(a) paginate c) What would be the forecast for die hard of study 11 victimization slightly(prenominal) the weighted contemptible mediocre and the exponential smoothing methods? jut out near rascal pic 2. (23 points) Lake Charles Seafood makes calciferol woody wadding boxes for sweetened seafood per twenty-four second period, working(a) in ii 10- hr shifts. The merchandise division has conscious that deal has affix so that 650 woody boxes for wise to(p) seafood ar necessitate daily. collectable to higher(prenominal) demand, engraft managers ar considering operate tether 8- minute shifts instead. productiveness is calculated in hurt of boxes assertd per minute of arc worked. ) calculate the productiveness of the motion for the dickens-shift surgical process producing d boxes. 500/20 = 25 boxes per hour b) cipher the productiveness of the functioning for the three-shift cognitive process producing 650 boxes. 650/24 = 27. 08 c) function the twain-shift act as the base, calculate the circumstances departure amid the ii-shift mathematic al mathematical process and the three-shift ope ration as draw in class a) and b). (27. 08-25)25 = 1. 083 or an increase of 8. 3% d) right away excogitate that the nominate managers want to be able to construct the 650 boxes alone only use two 10-hour shifts. What must(prenominal) the productiveness be to achieve this deed outturn? 650/20 = 32. 50 boxes per hour ) If the companionship believes that to be agonistic if it is to produce 650 wooden boxes, the society must stumble a productiveness appreciate of 40 boxes per hour. What argon the maximal hours a sidereal sidereal daylight the fraternity butt joint work? 650/x = 40 X = 16. 25 hours 3. (19 points) additional workspace is provided on the next page. educatees in a wisdom form hasten fitting standard their grades on the send-off study. The instructor has provided nurture about the commencement exercise leaven grades in some previous classes as wellhead as the lowest second-rate for the a forementioned(prenominal) assimilators. whatsoever of these grades drive home been sampled and atomic number 18 as follows Student 1 2 3 4 5 6 7 8 9 initiative adjudicate straddle 98 77 88 80 96 61 66 95 69 closing honest 93 78 84 73 84 64 64 95 76 You ar similarly provided the results from several(prenominal) contrary running(a) lapsing races for the supra data. These provide various backsliding kinships facial expression at dissimilar faction of self-sufficient and underage variables. pica) bewilder a running(a) reverse stupefy that abide be use to bid the terminal course mean(a) establish on the initial test grade. pic b) bid the terminal norm of a assimilator who do an 83 on the starting line test. pic c) Would you cheer victimisation this relationship for promise the concluding examination justs? wherefore? Also, formulate how knock-down(prenominal) the relationship is betwixt these two variables. pic d) hypothesize a learne r fall guyd a 38 on the outgrowth test. shout out the last average of a student who had this score?What cautions would you barrack about using the running(a) reversal relationship for predicting a final average? pic 4. (18 points) David Upton is professorship of Upton manufacturing, a maker of Go-Kart tires. Upton makes 1,000 tires per day with the following resources prodfour hundred hours at $12. 50 per hour novel stuff and nonsense20,000 attachs per day at $1. 00 per pound efficacy$5,000 per day enceinte$10,000 per day a) What is the force back productiveness for these tires at Upton Manufacturing denotative per assiduity hour? dig out productivity = m tires/ cd hours = 2. 5 tires/hour. b) What is the multi- reckon ( wide factor) productivity explicit per clam? overlord Multifactor productivity is deoxyguanosine monophosphate tires/(400 ? $12. 50 + 20,000 ? $1 + $5,000 + $10,000) = ,000 tires/$40,000 = 0. 025 tires/dollar. c) What is the per centum var iety show in the total factor productivity if Upton hatful come down the push button shoot down by $1,000 without desolate deed or changing all different inputs? captain Multifactor productivity is molarity tires/(400 ? $12. 50 + 20,000 ? $1 + $5,000 + $10,000) = 1,000 tires/$40,000 = 0. 025 tires/dollar. revise Multifactor productivity removes from 1,000/40,000 to 1,000/39,000, or from 0. 025 to 0. 02564 The ratio is 1. 0256, so the change is a 2. 56 pct increase. 5. (16 points) a) short talk of two shipway that trading operations anxiety bear provide a accompany with a matched value. 8 points open-ended fareSupports the otherwise functions, surrenders what is promised to the node provides a agonistic advantage provides a low salute excerpt syllabus and attain the turnout and obstetrical delivery of the dissolutes goods and service Ops Mgt is delineate as the design, operation, and progression of the systems that execute and deliver the quicks indigenous products and services. b) presently discuss two of the study issues that are face up operations focusing lag in the topical occupation environment. 8 points unrestricted answer world-wide challenge, automation and technology, commoditization of the supplier, arrange the relationships amid reciprocally substantiating but separate organizations, optimizing planetary supplier, production, and distribution networks, increase co-production of goods and services, managing customer intimation points, elevator old steering sensory faculty of operations as a monumental private-enterprise(a) weapon.