Business Data Model

Business Decision Models ____________________________________________________________ ________________________ motion 1 (10 marks) Sandra Enright of Techtronics Inc., an electronics supply firm, has been examining the time required for stock pickers to fill orders requested from inventory. She has determined that one-on-one order-filling times approximately follow a normal dissemination with a mean value of 3.2 minutes and standard difference of 68 seconds. a)What is the probability that a randomly selected order go forth require more than three minutes? b) What is the probability that a randomly selected order lead require less than two minutes? c) What is the probability that a randomly selected order will require between two and three minutes? d) Sandra is considering a quality assurance that 95% of orders will be modify within a specified time. What time should she specify? Question 2 (15 marks) Gerald Black of BlackFly Airline has an exclusive pledge to run flights of a four-passenger aircraft to a remote mining center. His perplex requires him to fly if there are any passengers wanting to wangle the trip. His fixed cost per day are $400.

00, his fixed costs per flight are $1,200.00, the variable cost per passenger is $25.00, and he charges $850.00 per passenger. He has tracked the crook of passengers who flew with him over the past cardinal days. His findings are summarized in the following table: Number of Passengers| 0| 1| 2| 3| 4| Number of geezerhood| 5| 12| 15| 21| 7| Of course, he does not fly on days with zero passengers. pick out that this sample gives a good approximation to his future deal patterns. Let G be the random variable: value on a future day. a) Calculate the Expected Value, E[ G ], Variance, 2[ G ] and standard deviation, [ G ], of his future daily profit. [Hint: You butt joint calculate a profit corresponding to each number of... If you want to get a full essay, order it on our website: Orderessay

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