1. A manufacturer is developing a facility plan to provide production capacity for its factory. The amount of capacity required in the future depends on the number of products demanded by its customers. The data below reflect past sales of its products:

a)      Use simple linear regression to forecast annual demand for the products for each of the next three (3) years, by using the tabular method to:

                                            i.            derive the values for the intercept and slope                               

                                          ii.            derive the linear equation

                                        iii.            develop a forecast for the firm’s annual sales for each of the next three years                                                                                                       

                    i.            Explain the difference between qualitative and quantitative approaches to forecasting.

                  ii.            Describe three (3) qualitative methods used in forecasting.                    

                iii.            Given the following data of demand for shopping carts at a leading supermarket. Prepare a forecast for period 6 using each of the following approaches:

1. A three-period moving average.                                                  
2. A weighted average using weights of .50 (most recent), .20 and .30.
3. Exponential smoothing with a smoothing constant of .40.         

                iv.            The manager of a large cement production factory in Road Town, Tortola has to choose between two alternative forecasting techniques. His production staff used both techniques in order to prepare forecasts for a six-month period. Using MAD as a criterion, which technique has the better performance record?                    

1. West Indies Batting Inc is again on the rise due to the increasing sale of cricket bats throughout the region. BATS R’ US, a cricket bat making company located in Charlestown, Nevis has been at the forefront of this increasing sales for cricket bats. The monthly demand in sales at BATS R’ US are provided in the table below.

                    i.            Compute a three-period moving average and a four-period moving average for weeks 5, 6, and 7.                                                                                          

                  ii.            Compute the MAD for both forecasting methods.                                 

                iii.            Which model is more accurate?                                                               

                iv.            Forecast week 8 with the more accurate method.                                   

1. Boi’s Car Rentals has been doing great business since acquiring a major North American car rental label. In preparation for the World Peace Summit slated for next month they need to project their demand for May. The business’ historic data is listed below:

        i.            Based on the above data calculate the demand for May using a five month moving average

      ii.            Calculate the forecast for May based on a THREE month weighted moving average applied to the following past demand data and using the weights: 4, 3, 2 (largest weight is for most recent data)?                                                                                                

    iii.            Using the exponential forecasting technique with a smoothing constant value of 0.2 and an initial value of 40, forecast the quantity of cars that will be demanded for May.

A company that makes language learning software wants to determine which of two approaches (Method A or Method B) to learning vocabulary would lead to the largest number of recalled words. The company wishes to evaluate the methods on 7 different languages (since languages differ in difficulty). Seven individuals, one per language, were recruited to learn words using Method A, and 7 individuals, one per language, were recruited to learn words using Method B.

After one month, each person completed a test of word recall. The data, representing the number of words recalled, are shown in the table below.

The company wishes to test whether there is a difference in the average number of words recalled between the two methods. Calculate the test statistic for this hypothesis to two decimal places. Take all calculations toward the final answer to three (3) decimal places.

A company that makes language learning software wants to determine which of two approaches (Method A or Method B) to learning vocabulary would lead to the largest number of recalled words. The company wishes to evaluate the methods on 7 different languages (since languages differ in difficulty). Seven individuals, one per language, were recruited to learn words using Method A, and 7 individuals, one per language, were recruited to learn words using Method B.

After one month, each person completed a test of word recall. The data, representing the number of words recalled, are shown in the table below.

The company wishes to test whether there is a difference in the average number of words recalled between the two methods. Calculate the test statistic for this hypothesis to two decimal places. Take all calculations toward the final answer to three (3) decimal places.

A company that makes language learning software wants to determine which of two approaches (Method A or Method B) to learning vocabulary would lead to the largest number of recalled words. The company wishes to evaluate the methods on 7 different languages (since languages differ in difficulty). Seven individuals, one per language, were recruited to learn words using Method A, and 7 individuals, one per language, were recruited to learn words using Method B.

After one month, each person completed a test of word recall. The data, representing the number of words recalled, are shown in the table below.

The company wishes to test whether there is a difference in the average number of words recalled between the two methods. Calculate the test statistic for this hypothesis to two decimal places. Take all calculations toward the final answer to three (3) decimal places

An investigator in the Statistics Department of a large university is interested in the effect of exercise in maintaining mental ability. She decides to study the faculty members aged 40 to 50 at his university, looking separately at two groups: The ones that exercise regularly, and the ones that don’t. There turn out to be several hundred people in each group, so she takes simple random sample of 25 persons from each group, for detailed study. One of the things she does is to administer an IQ test to the sample people, with the following results: Regular Exercise No Regular Exercise Sample size 25 25 Average score 130 120 Standard deviation 15 15 The investigator concludes that exercise does indeed help to maintain mental ability among the faculty members aged 40 to 50 at his university. Is this conclusion justified? Explain whether you agree with her and show your reasoning mathematically. (20 points)

An investigator in the Statistics Department of a large university is interested in the effect of exercise in maintaining mental ability. She decides to study the faculty members aged 40 to 50 at his university, looking separately at two groups: The ones that exercise regularly, and the ones that don’t. There turn out to be several hundred people in each group, so she takes simple random sample of 25 persons from each group, for detailed study. One of the things she does is to administer an IQ test to the sample people, with the following results:

Regular Exercise:

Sample size: 25

Average score: 130

Standard deviation: 15

No Regular Exercise:

Sample size: 25

Average score: 120

Standard deviation: 15

The investigator concludes that exercise does indeed help to maintain mental ability among the faculty members aged 40 to 50 at his university. Is this conclusion justified? Explain whether you agree with her and show your reasoning mathematically

You have a dataset of the average number of chirps per minute for a sample of 30 crickets. You find that the mean number of chirps per minute is 40 and that the number of chirps per minute has a standard deviation of 5 chirps. You want to test that the mean number of chirps per minute for a cricket is greater than 38 using a significance level of .05. What is the value of your test statistic? Round your answer to two decimal places.

Priam Designs Inc. is recruiting fashion designers through LinkedIn. This recruiting mode typically provides direct access to the _________________ (related to the components of the labor market). What is it called when the performance measure includes criteria that are not part of the job (one word)? How do we determine/calculate whether or not a predictor will result in adverse impact? One of the best ways people learn is through ______, imitating or copying someone else’s behavior. The “Big Five” personality trait of _______ has been found to relate to job performance across most organizations and occupations. 6. To qualify as a tax preparer for a seasonal job at a tax preparation chain, Marin must answer written questions on tax terminology covered in an e-learning course provided by the company. This evaluation is a _________ -level evaluation according to Kirkpatrick’s model. 7. Alvin, a sales representative for a company making industrial solvents, lost a major customer last month. Until then, Alvin's year has been about average in the level of sales. Early in the year, Alvin brought in two new customers of about the size of the customer he lost last month. Alvin's supervisor gives Alvin an unsatisfactory rating in his annual performance appraisal. It is likely that Alvin's supervisor has committed the ___________ error. 8. The purpose of a/an ____________ is to give applicants an accurate idea of the positive and negative aspects of the job so that they can more accurately evaluate the employment situation. 9. What is one disadvantage of internal recruiting? 10. A collection of instruments and exercises designed to diagnose individuals’ developmental needs is called a/an _____________.

A traffic cop has been determined that (2%) of drivers checked use their mobile phones and (8%) of drivers checked do not wear seat belts. In addition, it has been observed that the two infractions are independent of one another. If the cop stops seven drivers at random:

a. Calculate the probability that exactly five of the drivers have committed any one of the two offenses.

b. Calculate the probability that at least one of the drivers checked has committed at least one of the two offenses.

A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to during the current year. In addition, it estimates that of employees who had lost-time accidents last year will experience a lost-time accident during the current year.

a. What percentage of the employee will experience a lost-time accident in both years (to 1 decimal)?

b. What percentage of the employee will experience a lost-time accident over the two-year period (to 1 decimal)?