The Number of Reported Accidents at a Manufacturing Plant Located

question 40

Essay

The number of reported accidents at a manufacturing plant located in Flint, Michigan, is recorded at the start of each month. State investigators are responding to a recent complaint by reviewing data from past complaints over sets of three years at a time. The data from 2006-2008 are provided in the table below: Is this time series random? Perform a runs test and compute a few autocorrelations to support your answer.

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Definitions:

Time Utilities

The value added to products or services by making them available at the most beneficial time.

Airfreight

The transportation of goods by aircraft, typically used for time-sensitive or high-value shipments.

Supply Chain Strategy

An approach for managing the flow of goods and services, involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Inventory Low

A situation in which stock levels of products are critically reduced, posing a risk of stockouts and potential lost sales.