SCENARIO 13-14-B
You Are the CEO of a Dairy Company

question 62

Short Answer

SCENARIO 13-14-B
You are the CEO of a dairy company. You are planning to expand production by purchasing
additional cows, lands and hiring more workers. From the existing 50 farms owned by the company,
you have collected data on total milk production (in liters) and the number of milking cows. The data
are shown below and also available in the Excel file Scenario13-14-DataB.XLSX. $$\begin{array} { r r r r r r r r r r r } \text { MILK } & 84686 & 101876 & 103248 & 70508 & 76072 & 86615 & 87508 & 105195 & 120351 & 68658 \\& 85478 & 91902 & 110374 & 125364 & 159401 & 102883 & 113151 & 133297 & 140073 & 145434 \\& 152513 & 128275 & 138040 & 161276 & 208079 & 224119 & 231071 & 122114 & 132222 & 155092 \\& 177273 & 196399 & 205329 & 89564 & 94838 & 94920 & 97577 & 102163 & 103754 & 239585 \\& 239773 & 241293 & 249157 & 294388 & 318813 & 66462 & 100444 & 103846 & 154118 & 155460 \\\text { COWS } & 21 & 20 & 22 & 17 & 16 & 20 & 21 & 19 & 21 & 19 \\& 22 & 24 & 26 & 26 & 27 & 22 & 27 & 24 & 27 & 24 \\& 29 & 21 & 25 & 26 & 33 & 31 & 33 & 23 & 27 & 29 \\& 27 & 28 & 32 & 22 & 26 & 24 & 26 & 28 & 26 & 39 \\& 44 & 42 & 41 & 42 & 47 & 18 & 21 & 22 & 27 & 27\end{array}$$ You believe that the number of milking cows is the best predictor for total milk production on any
given farm.
-Referring to Scenario 13-14-B, if you purchase 40 cows for the new farm, the lower and upper
limit of the 95% prediction interval for the total milk production are _____ liters and _____ liters,
respectively.

Grasp the calculation and implications of direct exchange rates.

Understand the mechanism and purpose of triangle arbitrage in maintaining market equilibrium.

Recognize the scope and importance of the foreign exchange market.

Understand the differences between foreign bonds and Eurobonds.

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Physical items characterized by rigidity and resistance to changes in shape or volume, as opposed to liquids or gases.

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A mental activity that occurs during sleep, featuring a series of thoughts, images, or emotions occurring in the mind.

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The act of squeezing tightly between two surfaces, such as fingers, usually causing minor pain.