Examlex
The following questions refer to the table data for jobs awaiting processing at a single work station (jobs are shown in order of arrival):
-What is the average flow time for the minimum slack time (MST)priority rule schedule (using the CR rule to break ties)?
Average job lateness?
Average WIP at the centre?
P-Value
The p-value is a measure in statistical hypothesis testing that indicates the probability of obtaining test results at least as extreme as the ones observed, assuming the null hypothesis is true.
Level of Significance
The threshold under which a statistical result is considered statistically significant, traditionally set at 0.05 or 5%.
Degrees of Freedom
The number of independent values or quantities which can be assigned to a statistical distribution or parameter estimate, impacting the shape and scale of the distribution.
Rule of 5
An empirical rule suggesting that a sample of size five is often sufficient for capturing the median of a population, specifically under conditions reflected in the five-number summary.
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