ABC Inventory Analysis and Economic Order Quantity

Posted by on Apr 26, 2024 in Mathematics | 0 comments

Problem #12-1:

The Welsh Corporation uses 10 key components in one of its manufacturing plants. Perform an ABC analysis from the data shown below.  Explain your decisions and logic. 

SKU

Item Cost $

Annual Demand

WC219

0.10

12,000

WC008

1.20

22,500

WC916

3.20

700

WC887

0.41

6,200

WC397

5.00

17,300

WC654

2.10

350

WC007

0.90

225

WC419

0.45

8,500

WC971

7.50

2,950

WC713

10.50

1,000

Problem #12-2:

The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory items

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Probability Concepts and Standard Normal Distribution

Posted by on Apr 26, 2024 in Mathematics | 0 comments

Probability of Events

Calculating Probability

  1. Define the experiment and observation process.
  2. List the sample space (SP).
  3. Assign probabilities to each outcome in the SP.
  4. Identify the outcomes within the event of interest.
  5. Sum the probabilities of those outcomes.

Set Operations

  • Union (A u B): Occurs if either A, B, or both occur. Includes all outcomes in A or B or both.
  • Intersection (A n B): Occurs if both A and B occur. Includes outcomes common to both A and B.
  • Complement (A^c): Occurs if A does not occur.
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Statistics: Regression Analysis, Sampling Methods, and Quantitative Research

Posted by on Mar 31, 2024 in Mathematics | 0 comments

Regression Analysis

Regression table:

Multiple R: coefficient of correlation (0,0995) → 9,95% of variability in BMI (Y) is connected with 9,95% of the variability in age (X).

R square: coefficient of determination (0,0099) → 0,99% of variance in BMI (Y) is explained by our regression model.

St error in kg/m2: the prediction of the BMI (X) made using our model will different from reality by around 5,677 kg/m2.

Obs: we have a total of 400 obs in our model.

Intercept (B0)

Coefficients:  if the age will

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Understanding Statistics: Techniques, Methods, and Analysis

Posted by on Mar 30, 2024 in Mathematics | 0 comments

Statistics

S: refers to the body of techniques used for collecting, organizing & interpreting data. Data may be quantitative, with values expressed numerically or qualitative with characteristics being tabulated. S is used in bs to help make better decisions by understanding variation & relationships in data.

Descriptive Statistics

Techniques that are used to summarize & describe numerical data for the purpose of easier interpretation (can be graphical or involve computational analysis)

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Understanding Statistical Studies: Definitions and Methods

Posted by on Jan 16, 2024 in Mathematics | 0 comments

Individuals and Variables

Individuals are objects described by a set of data (people, objects, or animals).

Variable – any characteristic of an individual. Can take different values for different individuals.
Observational Study – observes individuals and measures variables of interest but does not intervene to influence the responses (describes some group or situation).
Sample Survey – studying some of its members, selected not because they are of special interest but because they represent the larger
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Leon Air Base: A Positive Work Environment and Entertaining City

Posted by on Jan 11, 2024 in Mathematics | 0 comments

This is Cadet Sargent Reboredo and, as requested, I am submitting this mail in order to give you an appropriate view of the Leon Air Base.

If you were posted with us, I am confident about you would enjoy the place.

Positive Work Environment

We have in our team a group of skilled technicians which are able to solve any breakdown or failure we have to face in our daily routines. The consequence is our aircraft fleet is ready every single day.

Entertaining City

Leon is an entertaining place to live, with

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