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Scott, MIT Graduate
Category: Homework
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Experience:  MIT Graduate (Math, Programming, Science, and Music)
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Question 26 An automotive center keeps tracks of

Customer Question

Question 26




An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as a table or a graph, both shown below. The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints.




xi


0


1


2


3


4


5


6




p(xi)


.10


.15


.18


.20


.20


.10


.07



What is the average number of complaints received per week? Round your answer to two places after the decimal. Answer .

5 points


Question 27




A loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is larger than 21 oz? Round your answer to four places after the decimal.
Answer .

5 points


Question 28




A fair die is rolled 8 times. What is the probability that an even number (2,4, 6) will occur between 2 and 4 times? Round your answer to four places after the decimal.
Answer .

5 points


Question 29




Consider the following decision tree.



What is the expected value at node 4? Round your answer to the nearest whole number. Do not include the dollar sign “$” in your answer.
Answer .

5 points


Question 30




The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code.



If he thinks the chances of low, medium, and high compliance are 20%, 30%, and 50% respectively, what is the expected value of perfect information? Round your answer to the nearest dollar.
Answer .

5 points


Question 31




Consider the following distribution and random numbers:


If a simulation begins with the first random number, what would the first simulation value would be __________.
Answer .

5 points


Question 32




The following data summarizes the historical demand for a product




Month


Actual Demand




March


20




April


25




May


40




June


35




July


30




August


45




If the forecasted demand for June, July and August is 32, 38 and 42, respectively, what is MAPD? Write your answer in decimal form and not in percentages. For example, 15% should be written as 0.15. Use three significant digits after the decimal. Answer .

5 points


Question 33




Given the following data, compute the MAD for the forecast.

Year Demand Forecast



2001


16


18




2002


20


19




2003


18


24

Answer .

5 points


Question 34




Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame:


Compute a 3-period moving average for period 6. Use two places after the decimal.
Answer .

5 points


Question 35




Daily highs in Sacramento for the past week (from least to most recent) were: 95, 102, 101, 96, 95, 90 and 92. Develop a forecast for today using a 2 day moving average.
Answer .

5 points


Question 36




Robert wants to know if there is a relation between money spent on gambling and winnings.


What is the coefficient of determination? Use two significant places after the decimal.
Answer .

5 points


Question 37




The following sales data are available for 2003-2008.



Determine a 4-year weighted moving average forecast for 2009, where weights are W1 = 0.1, W2 = 0.2, W3 = 0.2 and W4 = 0.5.
Answer .

5 points


Question 38




Given the following data on the number of pints of ice cream sold at a local ice cream store for a 6-period time frame:


Compute a 3-period moving average for period 4. Use two places after the decimal.
Answer .

5 points


Question 39




The following data summarizes the historical demand for a product.




Month


Actual Demand




March


20




April


25




May


40




June


35




July


30




August


45



Use exponential smoothing with α = .2 and the smoothed forecast for July is 32. Determine the smoothed forecast for August. Answer .

5 points


Question 40




This is the data from the last 4 weeks:



Use the equation of the regression line to forecast the increased sales for when the number of ads is 10.
Submitted: 5 years ago.
Category: Homework
Customer: replied 5 years ago.
Relist: Incomplete answer.