The newsvendor problem is a dilemma about how much of a product should be produced when the product has a long lifecycle and the demand for it is certain.
Indicate whether the statement is true or false
Q. 2Lisa is a regional manager for a restaurant chain that has locations in the towns of Berwick, Milton, and Leesburg.
She would like to investigate if a difference exists in the proportion of customers who rate their experience as satisfactory or better between the three locations. The following data represent the number of customers who indicated they were satisfied from random samples taken at each location. Berwick Milton LeesburgNumber Satisfied 80 85 60Sample Size 100 120 80The expected frequency of satisfied customers from the Berwick sample is ________.A) 60
B) 75
C) 80
D) 90
Q. 3Nationwide Insurance would like to perform a chi-square test to investigate whether a difference exists in the proportion of male and female teenagers who text while they drive.
A random sample of 80 male teenagers found that 50 indicated they texted while driving. A random sample of 120 female teenagers found that 65 indicated they texted while driving. Using = 0.5, the conclusion for this chi-square test would be that because the test statistic is___________________________
_____________________________
__________.A) more than the critical value, we can reject the null hypothesis and conclude that there is a difference in the proportion of male and female teenagers who text while they drive
B) less than the critical value, we can reject the null hypothesis and conclude that there is a difference in the proportion of male and female teenagers who text while they drive
C) more than the critical value, we cannot reject the null hypothesis and conclude that there is no difference in the proportion of male and female teenagers who text while they drive
D) less than the critical value, we cannot reject the null hypothesis and cannot conclude that there is a difference in the proportion of male and female teenagers who text while they drive
Q. 4Chris is employed by Silver Lake Resort in Orlando, Florida, and sells timeshares. The following table shows the number of timeshare sales for Chris for each quarter over the past three years.
Period Quarter Sales Period Quarter Sales
1 1 10 7 3 12
2 2 16 8 4 8
3 3 11 9 1 13
4 4 7 10 2 17
5 1 11 11 3 12
6 2 14 12 4 9
The deseasonalized number of sales for Period 9 is ________.
A) 11.0
B) 11.5
C) 12.6
D) 13.3
Q. 5Sony would like to test the hypothesis that the median age of a PlayStation user is different from the median age of an Xbox user. The following table shows the ages of a random sample of PlayStation and Xbox users.
PlayStation Ages Xbox Ages29 2629 3134 2634 3030 3435 2740 3736 3729 28 The lower and upper critical values for this hypothesis test using are ________.A) 52, 84
B) 49, 87
C) 57, 95
D) 54, 98
Q. 6Sony would like to test the hypothesis that the median age of a PlayStation user is different from the median age of an Xbox user. The following table shows the ages of a randomsample of PlayStation and Xbox users.
PlayStation Ages Xbox Ages29 2629 3134 2634 3030 3435 2740 3736 3729 28 The test statistic for this hypothesis test is ________.A) 69.5
B) 78.0
C) 100.5
D) 106.5
Q. 7The test statistic for the large sample case of the Wilcoxon rank-sum test can be approximated by the _____________ probability distribution.
A) binomial
B) Student's t
C) chi-square
D) normal
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