Assume A equals the average of 12 uniform distributions and B equals the average

Question

Assume A equals the average of 12 uniform distributions and B equals the average of 8 uniform distributions, when comparing A versus B, which of the following is True

A) The Dispersion for A is equal to the Dispersion for B

B) The Dispersion for A is greater than the Dispersion for B

C) The Dispersion for A is less than the Dispersion for B

D) Random chance that the Dispersion for A will be equal, less than, or greater than the Dispersion for B.

There is a bag of potato chips. There are 20 potato chips in this bag. When first packaged at the potato chip factory, none/zero of the 20 chips are broken. The potato chip manufacturer has designed the packaging and logistics process in a way that for each potato chip, there is a 91.8% probability that a chip will break by the time a consumer opens the bad of potato chips. What is the probability that when you open this bag of potato chips, ALL 20 potato chips are found broken? A) 9% B) 18% C) 12% D) 4.5%

Time-series models ________.

A) assume that whatever forces have influenced sales in the recent past will continue into the near future B) assume that forecasts are seldom developed by extrapolating historical data into the future C) include independent variables like, demand conditions and the current economy state that help in forecasting D) are also known as judgmental forecasting models

Explanation / Answer

Solution

1) option (D) Random chance that the Dispersion for A will be equal, less than, or greater than the Dispersion for B

2) Given that P(broken) = 0.918

P(X=20) = 20C20 (0.918)20 = 0.18

option (b) 18%

3) Time series model :

B) assume that forecasts are seldom developed by extrapolating historical data into the future

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