What is the standard deviation of the residuals? The Kharn Corporation orders 5
ID: 379170 • Letter: W
Question
What is the standard deviation of the residuals?
The Kharn Corporation orders 5 units of an item every day. Daily demand of this item averages 5 units and is distributed as follows: Demand 1 2 4 5 6 7 9 Probability: 0.01 0.04 0.1 0.2 0.3 0.2 0.1 0.04 0.01 a). If management sets the reorder point at 7 units, what is the service level? b). Assuming 200 workdays (annual demand -1000), how many units of annual demand cant be supplied out of inventory? c).What is the average number of stockouts (stockout units) per order cycle? d). What is the total number of stockout units in a year? Please Show all work.Explanation / Answer
The residual standard deviation is a statistical term used to describe the standard deviation of points formed around a linear function, and is an estimate of the accuracy of the dependent variable being measured.
Residual standard deviation is also referred to as the standard deviation of points around a fitted line.
The residual standard deviation can be calculated when a regression analysis has been performed, as well as an analysis of variance (ANOVA). When determining a limit of quantitation, the use of a residual standard deviation is permissible instead of the standard deviation.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.