This question relates to concepts covered in Lectures 1 & 2. You can use any of the excel files posted to work through the question. Demand at a store can be modeled by a random variable which takes the following values across four different scenarios that occur with following probabilities. Scenario Low: D1 = 10 with probability P1=0. 1 Scenario Medium 1: D2 = 30 with probability P...2=0,4 Scenario Medium 2. D3 = 60 with probability p. 3-0.4 Scenario High: 04 = 90 with probability p_4=0.7 What is the mean of this demand distributional?

An automobile assembly line operation has a scheduled mean completion time, μ, of 12 minutes. the standard deviation of completion times is 1.6 minutes. it is claimed that, under new management, the mean completion time has decreased. to test this claim, a random sample of 33 completion times under new management was taken. the sample had a mean of 11.2 minutes. assume that the population is normally distributed. can we support, at the 0.05 level of significance, the claim that the mean completion time has decreased under new management? assume that the standard deviation of completion times has not changed.