9.2) A company is using a carrier to deliver goods to a major customer. The annual demand is $2‚500‚000‚ and the average transit time is 10 days. Another carrier promises to deliver in 7 days. What is the reduction in transit inventory? I = tA=(10 – 7 ) 2‚500‚000=$7‚500‚000=$20‚547.90 365365 365 9.4) A florist carries an average inventory of $12‚000 in cut flowers. The flowers require special storage and are highly perishable. The florist’s estimates capital costs at 10%‚ storage
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OPIM Assignment 4 1. Cu = 24-11 = $13 Co = 11-7 = $4 Critical ratio = 13/(13+4) = 0.7647 μ = 30‚000 σ = 10‚000 Using normal distribution function (=norminv(0.7647‚30000‚10000))‚ the optimum order quantity is 37‚216 jerseys to maximize profit. 2. Quantity = 32‚000 First‚ we normalize the order quantity to find the z-statistic z=Q-μσ=32‚000-25‚00010‚000=0.7 We then look up the standard normal loss function. The expected lost sale is given by. Lz=0.1429 Therefore‚ the expected lost
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UNIT 2 THEOREMS Structure 2.1 Introduction Objectives PROBABILITY 2.2 Some Elementary Theorems 2.3 General Addition Rule 2.4 Conditional Probability and Independence 2.4.1 Conditional Probability 2.4.2 Independent Events and MultiplicationRule 2.4.3 Theorem of Total Probability and Bayes Theorem 2.5 Summary 2.1 INTRODUCTION You have already learnt about probability axioms and ways to evaluate probability of events in some simple cases. In this unit‚ we discuss ways to evaluate
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pressure dynamics specified by Bernoulli’s Principle to keep their rare wheels on the ground‚ even while zooming off at high speed. It is successfully employed in mechanism like the carburetor and the atomizer. The study focuses on Bernoulli’s Theorem in Fluid Application. A fluid is any substance which when acted upon by a shear force‚ however small‚ cause a continuous or unlimited deformation‚ but at a rate proportional to the applied force. As a matter of fact‚ if a fluid is moving horizontally
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Stokes’ theorem In differential geometry‚ Stokes’ theorem (or Stokes’s theorem‚ also called the generalized Stokes’ theorem) is a statement about the integration of differential forms on manifolds‚ which both simplifies and generalizes several theorems from vector calculus. The general formulation reads: If is an (n − 1)-form with compact support on ‚ and denotes the boundary of with its induced orientation‚ and denotes the exterior differential operator‚ then. The modern Stokes’ theorem is a
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STA3003 Fall 2012 Assignment 5 (Total Points Possible: 15) Name: Banner ID: Instructions: Use this page as your cover page‚ and attach your groupwork behind your work. Your assignment answers should be in complete and grammatically correct sentences. 1. According to the National Center for Health Statistics (2004)‚ 22.4% of adults are smokers. A
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wholesome state in Australia to stop crimes‚ accidents and chaos. Is it reasonable then to complain about the Legal Blood Concentration 0.05 set by the Government in Australia to stop the Road Trauma and Death? Imagine without the implemented limits‚ people will take their freedom for granted and may lead to risk their very lives. Therefore‚ having a limit in drink driving is not a restriction by the State Government but a protection. Throughout the years‚ alcohol became a source of people’s
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Biology 180 Problem Set 2 1. A population of marine gastropods has shell lengths that are normally distributed with a mean μ = 8 mm and variance σ2 = 2.15 mm2. a. what proportion of the population will have shell lengths between 6.5 mm and 8.5 mm? (3 points) b. what is the probability of finding a gastropod that has a shell length of exactly 7.5 mm? (1 point) c. if there are 1‚000 gastropods in an area‚ how many will have shell lengths greater than 5 mm? (3 points) 2. Childhood lead poisoning
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Problem Set #3: Edited Version Page 100 – Problems and Applications 1. The three functions of money are medium of exchange‚ unit of account‚ and store of value. Medium of exchange refers to money being accepted as everyday currency‚ that you can go into a store and be confident in the fact that they will accept your money for goods and services. Store of value is defined as the ability of money to retain its value of time; in other words‚ $100 today will be $100 tomorrow‚ next month or 6
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Chapter 8 Exercise 21 What is sampling error? It is the difference between the sample mean and the population mean Could the value of the sampling error be zero? Yes it is possible to have a zero sampling error. However‚ it is very low probability that this could happen. If it were zero‚ what would this mean? This means that the population is uniform and the sample mean and the population mean are equal. Exercise 22 List the reasons for sampling. Give an example of each reason
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