Kellam images prints snack food bags on long rolls of plastic film. the plant operates 250 days a year. the daily production rate is 6000 bags, and the daily demand is 3500 bags. the cost to set up the design for printing is $300. the holding cost is estimated at 2 cents per bag. what is the recommended production lot size?

Suppose a mutual fund qualifies as having moderate risk if the standard deviation of its monthly rate of return is less than 3%. a mutual-fund rating agency randomly selects 27 months and determines the rate of return for a certain fund. the standard deviation of the rate of return is computed to be 2.19%. is there sufficient evidence to conclude that the fund has moderate risk at the alpha equals 0.05 level of significance? a normal probability plot indicates that the monthly rates of return are normally distributed.