Land purchase decision. A buyer for a lumber company ,must decide whether to buy a piece of land containing ,5,000 pine trees. If 1,000 of the trees are at least 40 feet ,tall, the buyer will purchase the land; otherwise, he ,won’t. The owner of the land reports that the height of ,the trees has a mean of 30 feet and a standard deviation ,of 3 feet. Based on this information, what is the buyer’s ,decision? ,
Which is more superior, Standard Deviation or variance and why?
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Crazy Dave, a well known baseball analyst, wants to determine which variables are important in predicting a team’s wins in a given season. He has collected data related to wins, earned run average (ERA) and runs scored for the 2007 season (stored in the file BB2007).Develop a model to predict the number of wins based on ERA and runs scored.,,,,a. State the multiple regression equation.,b. Interpret the meaning of the slopes in this equation,c. Predict the number of wins for a team that has an ERA of 4.50 and has scored 750 runs.,d. Perform a residual analysis on the results and determine if the regression assumptions are valid.,e. Is there a significant relationship between number of wins and the two independent variables (ERA and runs scored) at the 0.05 level of significance?,f. Determine the p-value in (e) and interpret its meaning.,g. Interpret the meaning of the coefficient of multiple determination in this problem,h. Determine the adjusted r^2,i. At the 0.05 level of significance, determine whether each independent variable makes a significant contribution to the regression model. Indicate the most appropriate regression model for this set of data,j. Determine the p-values in (i) and interpret their meaning.,k. Which is more important in predicting wins—pitching, as measured by ERA, or offense, as measured by runs scored? Explain., ,need to be done using excel or phstat
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company sells precision grinding machines to four customers in four different countries. It has just signed a contract to sell, two months from now, a batch of these machines to each customer. The following table shows the number of machines (batch quantity) to be delivered to the four customers. The selling price of the machine is fixed in the local currency, and the company plans to convert the local currency at the exchange rate prevailing at the time of delivery. As usual, there is uncer- tainty in the exchange rates. The sales department esti- mates the exchange rate for each currency and its standard deviation, expected at the time of delivery, as shown in the table. Assume that the exchange rates are normally distributed and independent.,Multicurrency Decision,ï¿¼Batch Selling Customer Quantity Price,Exchange Rate Standard,1 2 3 4,12 Â£ 57,810,8 Â¥ 8,640,540 5 â‚¬97,800,2 R 4,015,000,Mean,$1.41ô°µÂ£ $0.00904ô°µÂ¥ $0.824ô°µâ‚¬ $0.0211ô°µR,Deviation,$0.041ô°µÂ£ $0.00045ô°µÂ¥ $0.0342ô°µâ‚¬ $0.00083ô°µR,1. Find the distribution of the uncertain revenue from the contract in U.S. dollars. Report the mean, the variance, and the standard deviation.
29. The range measures the spread of a distribution. It is the distance from the smallest value to the largest value. Is the range sensitive to the presence of outliers?
External funding needs are computed as:,,A. Projected total assets – (projected liabilities + projected net worth),B. Projected total assets – (actual liabilities + net worth),C. Projected current assets – (projected current liabilities + net worth),D. None of the above,,Proposed Answer: D,,Is this correct?
27. An adjusted rate mortgage allows the rate of interest to fluctuate over the term a loan, depending on economical conditions. A fixed rate mortgage holds the rate of interest constant. Which sequence of monthly payments has smaller variance, those on an adjustable rate mortgage or those on a fixed rate mortgage?