A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Maximum Labor-Hours Available per Day 168 30 Labor-Hours per Ski Slalom Ski Trick Ski 6. Department Fabricating Finishing Answer parts (A), (B), and (C) below. 1 1 (A) If the profit on a trick ski is $50 and the profit on a slalom ski is $30, how many of each type of ski should be manufactured each day to realize a maximum profit? What is the maximum profit? The maximum profit is S The maximum occurs when trick skis and slalom skis are produced (B) Discuss the effect on the production schedule and the maximum profit if the profit on a slalom ski decreases to $20. The maximum profit The maximum occurs when trick skis and slalom skis are produced. (C) Discuss the effect on the production schedule and the maximum profit if the profit on a slalom ski increases to $45. The maximum profit The maximum occurs when trick skis and slalom skis are produced.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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