(From 'The Goal' by Eliyahu M. Goldratt)

A) Alex Rogo learned a lot about managing his plant on the Boy Scout hiking trip. Give 3 examples of problems he encountered on the hike. Describe how he handled them and what new insights about his plant he received from them.

B) For each example you gave in the part A, describe how Alex applied a similar strategy in his plant.

1) If the boys and girls have the same probabilities of being born. What is the probability that a family of 5 children selected randomly has atleast one boy?

2) Of the pieces produced by a machine in particular, 0.8% are defective. If an aleatory sample of 8 pieces produced by this machine contains two or more defective pieces, the machine will be turned off to make reparations. Find the probability that the machine would turn off for reparations based on the sampling plan.

The makers of Country Boy Corn Flakes are thinking about changing the packaging of the cereal with the hope of improving sales. In an experiment, five stores of similar size in the same region sold Country Boy Corn Flakes in different-shaped containers for 2 weeks. Total packages sold are given in the following table. Using a 0.05 level of significance, shall we reject or fail to reject the hypothesis that the mean sales are the same, no matter which shape box is used?

Classify the problem as being a Chi-square test of independence or homogeneity, Chi-square goodness-of-fit, Chi-square for testing or estimating σ² or σ, F test for two variances, One-way ANOVA, or Two-way ANOVA, then perform the following.

(a) Find the sample test statistic

.

(b) In the case of one-way ANOVA, make a summary table.

1. Nancy just had a new baby boy and plans to send him to college 19 years from now. She wants to deposit each winter in an education account which pays 10% (compounded annually) so that her boy will have enough money set aside that he can take out $20,000 at the beginning of each year to pay tuition, room and board, etc., for each of his four-year education. How much will Nancy need to deposit at the end of each year in order to meet the goal (Note: There will be 19 total deposits and the first deposit will be made in one year. Also, the last deposit will be made the day before the first withdrawal.)

Hint: 0-19: ordinary annuity, you deposit PMT every year for 19 times;

19-23: annuity due, you withdraw 20,000 every year for 4 times.

Can you get the PVA of those four 20,000 @ point 19? The number you get is the future value of those 19 pmts. Then use that value as FV of the ordinary annuity (the 19 pmts), can you get the PMT?

a. 1,363.14

b. 1,379.89

c. 1,306.64

d. 1,312.84

e. 1,321.12

Suppose you are asked to write a press report of the most important marketing differences between your visit to a car showroom (agencies) and a garage shop and car service maintenance. What do you write and what are the main elements you address in your report?

What are the steps for solving for MIRR using a Ti-84 calculator given the following information: (Please list all steps and keys to press to arrive to the conclusion)

pick any of the known criminal activities are occurring utilizing technology and discuss. Do you think this is really an issue, or do you think the press is just blowing out of proportion? Is there any technology that you are aware of that can either prevent this type of crime or reduce it?

Choose two countries Apple company operates and compare/analyze their political environment (political systems, political freedom, press freedom, political risks, and their implications). Does Apple company primarily operate in civil law or common law countries? What are some of the implications of this?

True or False

1. People with diabetes are at higher risk for certain cancers than those without diabetes suggests a new study based on a telephone survey of nearly 400,000 adults. This is an example of an observational study.

2. In New York City, there are 3250 walk buttons that pedestrians can press at traffic intersections, and 2500 of them do not work. This is an example of a statistic.

3. In New York City, there are 3250 walk buttons that pedestrians can press at traffic intersections, and 2500 of them do not work. This is an example of discrete data.

4. A group of students is divided into two groups. One group is given a new chewable vitamin and the other group is given a placebo. After six months they are asked to fill out a questionnaire and given a health exam to see if the new vitamin has health benefits that are better than a placebo. This is an experimental study.

A steel stamping corp is looking to buy a new high speed press. there are two offers: first offer: selling & shipping price$$1,050,000, annual operation $8,500 , maintenance $8,000 increasing $1,000 thereafter, salvage value $210,000, service life 15 years second offer: selling and shipping $1,225,000, annual oper. $7,500, maintenance $7,000 increasing $800 thereafter, salvage valu $300,000, service life 20 years. a) Which offer is better base on Annual Worth comparison b) Which offer is better using Future Worth comparison c) Do both always lead to the same result? d) for a 15-year-period, what salvage value for the press in offer 2 would make it better choice? e) state the assumption made to compare mutually exclusive alternatives of different lives?