To find the probability of values in a tail of the normal distribution using a standard normal table, ________.
A) calculate z, find the corresponding probability, and then subtract that probability from 1
B) calculate z and find the corresponding probability
C) calculate z, find the corresponding probability, multiple that by two, and then subtract from 1
D) calculate z, find the corresponding probability, subtract from 0.5, and then double it
Q. 2The number of days that homes stay on the market before they sell in Houston is bell-shaped with a mean equal to 56 days. Further, 95 percent of all homes are on the market between 40 and 72 days.
Based on this information, what is the standard deviation for the number of days that houses stay on the market in Houston?A) 8
B)
C) 16
D) 4
Q. 3Which of the following decisions is chosen in a minimax regret strategy?
A) the decision that minimizes the largest opportunity loss
B) the decision that maximizes the smallest opportunity loss
C) the decision that minimizes the smallest opportunity loss
D) the decision that maximizes the largest opportunity loss
Q. 4Briefly explain the difficulties experienced while using Solver to obtain optimal solutions for linear optimization models.
What will be an ideal response?
Q. 5If the given time series has no trend and no seasonality, which of the following is the most appropriate forecasting model to determine the forecast of the time series?
A) the single moving average model
B) the seasonal additive model
C) the double exponential smoothing model
D) the Holt-Winters additive model
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