8 help The article "The Uniform Distribution as a First Practical Approach to New Product Inventory Management" [International Journal ofProduction Economics, 2008, 114(2)] proposed a uniform distribution to model the demand of a new product before observing theactual distribution. You will model demand forecasts with a discrete uniform distribution. According to your estimates, the minimumand the maximum levels of new product demand are 5 and 30 units per day, respectively.(a) Determine the mean and variance of new product demand.Mean =Variance = i(b) Determine the probability mass function of new product demand.Enter the answer as a fraction. Divide the numerator and denominator by "/".f(x) =(c) How do the mean and the variance of new product demand change, if you revise your estimate of maximum demand to be 23instead of 30?Round your answers to two decimal places (e.g. 98.76).Mean = iVariance = i

given data (a) uniform distribution minimum 5, maximum 30

Answered: The article "The Uniform Distribution…

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter4: Eigenvalues And Eigenvectors

Section4.6: Applications And The Perron-frobenius Theorem

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The article "The Uniform Distribution as a First Practical Approach to New Product Inventory Management" [International Journal of Production Economics, 2008, 114(2)] proposed a uniform distribution to model the demand of a new product before observing the actual distribution. You will model demand forecasts with a discrete uniform distribution. According to your estimates, the minimum and the maximum levels of new product demand are 5 and 30 units per day, respectively. (a) Determine the mean and variance of new product demand. Mean = 1 Variance = e Textbook and Media (b) Determine the probability mass function of new product demand. Enter the answer as a fraction. Divide the numerator and denominator by "/" f(x) = eTextbook and Media (c) How do the mean and the variance of new product demand change, if you revise your estimate of maximum demand to be 21 instead of 30? Round your answers to two decimal places (e.g. 98.76). Mean = i Variance = i
The article "The Uniform Distribution as a First Practical Approach to New Product Inventory Management" [International Journal of Production Economics, 2008, 114(2)] proposed a uniform distribution to model the demand of a new product before observing the actual distribution. You will model demand forecasts with a discrete uniform distribution. According to your estimates, the minimum and the maximum levels of new product demand are 5 and 30 units per day, respectively. (a) Determine the mean and variance of new product demand. Mean =1 = Variance = i (b) Determine the probability mass function of new product demand. Enter the answer as a fraction. Divide the numerator and denominator by "/". f(x) = (c) How do the mean and the variance of new product demand change, if you revise your estimate of maximum demand to be 24 instead of 30? Round your answers to two decimal places (e.g. 98.76). Mean = i Variance = i
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