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Answer:
The exponential growth model for the population of the Tallahassee metropolitan area is .
Step-by-step explanation:
The exponential formula is
Where b is initial population, r is growth rate, (1+r) is growth factor and t is time (in years) after the initial year.
The population of the Tallahassee metropolitan area was 382,627 at the end of 2017. The growth rate is 2.78%.
Here the initial year is 2017 and rate is 0.0278
Graph of the equation is shown below. The x-axis represents the number of years after 2017 and y-axis represents the total population.
Difference between 2025 and 2017 is 8 years. Put t=8
Therefore the projected population in 2025 is 476479.
Answer:
The probability mass function for the items sold is
The mean is 96.667
The variance is 22.222
b) The probability mass function for the unfilled demand due to lack of stock is
The mean is 3.333
The variance is 33.333
Step-by-step explanation:
If the demand is higher than 100, then you will sell 100 items only. Thus, there is a probability of 1/3+1/3 = 2/3 that you will sell 100 items, while there is a probability of 1/3 that you will sell 90.
The probability mass function for the items sold is
The mean is 1/3 * 90 + 2/3 * 100 = 290/3 = 96.667
The variance is V(X) = E(X²)-E(X)² = (1/3*90² + 2/3*100²) - (290/3)² = 200/9 = 22.222
b) If order to be unfilled demand, you need to have a demand of 110, which happens with probability 1/3. In that case, the value of the variable, lets call it Y, that counts the amount of unfilled demand due to lack of stock is 110-100 = 10. In any other case, the value of Y is 0, which would happen with probability 1-1/3 = 2/3. Thus
The mean is 2/3 * 0 + 1/3 * 10 = 10/3 = 3.333
The variance is 2/3*0² + 1/3*10² = 100/3 = 33.333