Case Study 1: Specialty Toys | Group 10 | Amy GarlitzAlison MalzahnRudy RodelasAngad SinghAbigail Webber | Question 1 The data of the sales of the Weather Teddy presented in the Specialty Toys case has a normal probability distribution. The company has a 95% probability of demand for the Weather Teddy being between 10,000 and 30,000 units. Therefore, 95% of the data is within two standard deviations of the mean. The standard deviation is 5,000, or the data deviates from the mean by 5
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Specialty Toys Case Study 1. The mean is 20,000 units and there is a 95% probability that demand will be between 10, 000 and 30,000 units. This means there is a .025% chance that the demand will be outside of 10,000 and 30,000. Using the chart, we find that z=-1.96. Using the following calculation, we find: z= x- μ σ -1.96 = 10,000 – 20,000 σ σ=5102 Standard deviation σ = 5,102 μ = 20,000 mean 2. Stock outs were calculated by the four management numbers. Equation
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MBA: 633 sTATISTICS FOR BUSINESS DECISION MAKING | Specialty Toys, Inc. | Case Problem: Group Assignment No. 1 | | March 4, 2010 | | [Managerial Report prepared to address issues and recommend and order quantity for the Weather Teddy product for Specialty Toys, Inc.] | Executive Summary Specialty Toys, Inc. is a manufacturer of new and innovative children’s toys which includes the Weather Teddy. The Weather Teddy has a built-in barometer that provides one of five standard responses
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Case Analysis – Specialty Toys 1. Senior sales forecaster predicted and expected demand of 20,000 units with .95 probability that demand would be between 10,000 and 30,000 units. P (10,000 < x< 30,000) = .95 (30,000-20,000)/1.96 = 5,102 X = the demand of Weather Teddy Mean µ = 20,000 Standard Deviation α = 5,102 The normal distribution of the demand for the Weather Teddy is represented in the graph below. This is based off of the forecast of previous selling history of other
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Specialty Toys Case Study 1. The mean is 20,000 units and there is a 95% probability that demand will be between 10, 000 and 30,000 units. This means there is a .025% chance that the demand will be outside of 10,000 and 30,000. Using the chart, we find that z=-1.96. Using the following calculation, we find: z= x- μ σ -1.96 = 10,000 – 20,000 σ σ=5102 Standard deviation σ = 5,102
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Having the opportunity to work with several PA’s, I experienced first-hand how they all worked closely with the patients, took the time to speak to them, listened to their complaints and symptoms, and consulted with the physicians regarding the patients’ course of treatment. I began to realize what an integral role a PA can have in both a hospital and private practice setting, and the relationships that they develop with their patients. There were many times that I witnessed the PA’s spending more
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Peter Blackwell Chapter 2 Test April 30, 2012 (1) Distinguished between the care provided in a/an: a. Hospital treats the acutely ill whereas a SNF cares for those less acutely ill. b. Level of care required is less in ICF c. RCF residents carry out activities of daily living on their own, whereas ICF residents may need some help. d. Trauma center is equipped to handle more severe injuries. (2) Distinguished between: a. Medicare id for people age 65 and older. Medicaid
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slowly and added other specialties in 1963. It has continued to expand over the years, and began to provide specialty and sub-specialty medical and surgical care in 1972. Medical Associates has also grown into a large tax paying medical group of forty physicians and two separate location in Middleboro and the eastern edge of Jasper which opened in 1972 and 1985 respectively. The practice was originally a single specialty practice but now has several specialties and sub-specialties in addition to ambulatory
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Jennifer Smith G.G. Toys: Case study #2 G.G. Toys was a toy manufacturer facing problems with productivity and profitability. The company found a profitable product in their Geoffrey doll and Specialty branded doll #106. Retailers could customize to the specifications and buying habits of their customer base. On average, the Geoffrey Doll cost $19.19 to produce, and the #106 doll $23.74. To access in a study of their overhead cost for both of their plants, research showed that: 1. A setup
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Jennifer Smith G.G. Toys: Case study #2 G.G. Toys was a toy manufacturer facing problems with productivity and profitability. The company found a profitable product in their Geoffrey doll and Specialty branded doll #106. Retailers could customize to the specifications and buying habits of their customer base. On average, the Geoffrey Doll cost $19.19 to produce, and the #106 doll $23.74. To access in a study of their overhead cost for both of their plants, research showed that: 1. A setup was
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