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business communication

Questions and Answers of Business Communication

An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance that it will break even, a 4 in 10 chance that it will gain 15%, and a 3 in 10
The weekly demand of a slow moving product has the following probability mass function:Find the expected value, variance, and standard deviation of weekly demand.
Construct the probability distribution for the value of a 2 card hand dealt from a standard deck of 52 cards ( all face cards have a value of 10 and an ace has a value of 11).a. What is the
Based on the data in the Excel file Consumer Transportation Survey, develop a probability mass function and cumulative distribution function (both tabular and as charts) for the random variable
A major application of analytics in marketing is determining the attrition of customers. Suppose that the probability of a long distance carrier’s customer leaving for another carrier from one
The Excel file Call Center Data shows that in a sample of 70 individuals, 27 had prior call center experience. If we assume that the probability that any potential hire will also have experience with
During 1 year, a particular mutual fund has outper formed the S& P 500 index 33 out of 52 weeks. Find the probability that this performance or better would happen again.
A popular resort hotel has 300 rooms and is usually fully booked. About 6% of the time a reservation is canceled before the 6: 00 p. m. deadline with no penalty. What is the probability that at least
Three coins are dropped on a table.a. List all possible outcomes in the sample space.b. Find the probability associated with each outcome.
A telephone call center where people place marketing calls to customers has a probability of success of 0.08. The manager is very harsh on those who do not get a sufficient number of successful
A financial consultant has an average of 7 customers he consults with each day, which are assumed to be Poisson distributed. The consultant’s overhead requires that he consult with at least 5
The number and frequency of Atlantic hurricanes annually from 1940 through 2012 is shown here.a. Find the probabilities of 0– 12 hurricanes each season using these data.b. Assuming a Poisson
Verify that the function corresponding to the following figure is a valid probability density function. Then find the following probabilities:a. P(x < 8)b. P(x < 8)c. P(6 < x < 10)d. P(6 < x < 11)
The time required to play a game of Battleship ™ is uniformly distributed between 15 and 60 minutes.a. Find the expected value and variance of the time to complete the game.b. What is the
A contractor has estimated that the minimum number of days to remodel a bathroom for a client is 10 days. He also estimates that 80% of similar jobs are completed within 18 days. If the remodeling
The distribution of the SAT scores in math for an in-coming class of business students has a mean of 590 and standard deviation of 22. Assume that the scores are normally distributed.a. Find the
A popular soft drink is sold in 2 liter ( 2,000milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 20, normally
A supplier contract calls for a key dimension of a part to be between 1.96 and 2.04 centimeters. The supplier has determined that the standard deviation of its pro-cess, which is normally
A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.a. What are the outcomes of this experiment for
Historical data show that customers who download music from a popular Web service spend approximately $ 26 per month, with a standard deviation of $ 4. Find the probability that a customer will spend
A light bulb is warranted to last for 5,000 hours. If the time to failure is exponentially distributed with a true mean of 4,750 hours, what is the probability that it will last at least 5,000 hours?
The actual delivery time from Giodanni’s Pizza is exponentially distributed with a mean of 20 minutes.a. What is the probability that the delivery time will exceed 30 minutes?b. What proportion of
Develop a procedure to sample from the probability distribution of soft drink choices in . Implement your procedure on a spreadsheet and use the VLOOKUP function to sample 10 outcomes from the
Develop a procedure to sample from the probability distribution of two card Consider the experiment of drawing two cards with-out replacement from a deck consisting of only the ace through 10 of a
Use formula (5.23) to obtain a sample of 25 outcomes for a game of Battleship ™ as described in Problem 34. Find the average and standard deviation for these 25 outcomes.The Time required to play a
Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant A financial consultant has an average of 7 customers he consults with each
A formula in financial analysis is:Return on equity = net profit margin * total asset turnover * equity multiplier.Suppose that the equity multiplier is fixed at 4.0, but that the net profit margin
A government agency is putting a large project out for low bid. Bids are expected from 10 different contractors and will have a normal distribution with a mean of $ 3.5 million and a standard
Use Analytic Solver Platform to fit the hurricane data to a discrete distribution? Does the Poisson distribution give the best fit?The number and frequency of Atlantic hurricanes annually from 1940
"Refer to the card scenario.a. Let A be the event “total card value is odd.” Find P (A) and P (Ac).b. What is the probability that the sum of the two cards will be more than 14? "
Use Analytic Solver Platform to fit a distribution to the data in the Excel file Computer Repair Times. Try the three different statistical measures for evaluating goodness of fit and see if they
The Excel file Investment Returns provides sample data for the annual return of the S& P 500, and monthly returns of a stock portfolio and bond portfolio. Construct histograms for each data set
"Refer to the coin scenario.a. Let A be the event “exactly 2 heads.” Find P (A).b. Let B be the event “at most 1 head.” Find P (B).c. Let C be the event “at least 2 heads.” Find P (C).d.
Roulette is played at a table similar to the one in Figure 5.36. A wheel with the numbers 1 through 36 ( evenly distributed with the colors red and black) and two green numbers 0 and 00 rotates in a
Students in the new MBA class at a state university has the following specialization profile: Finance— 67Marketing— 45 Operations and Supply Chain Management— 51Information Systems— 18Find
An airline tracks data on its flight arrivals. Over the past 6 months, 50 flights on one route arrived early, 150 arrived on time, 25 were late, and 45 were canceled.a. What is the probability that a
Your college or university wishes to obtain reliable information about student perceptions of administrative communication. Describe how to design a sampling plan for this situation based on your
A sample of 25 individuals at a shopping mall found that the mean number of visits to a restaurant per week was 2.88 with a standard deviation of 1.59. Find a 99% confidence interval for the mean
A bank sampled its customers to determine the proportion of customers who use their debit card at least once each month. A sample of 50 customers found that only 12 use their debit card monthly. Find
If, based on a sample size of 850, a political candidate finds that 458 people would vote for him in a two person race, what is the 95% confidence interval for his expected proportion of the vote?
If, based on a sample size of 200, a political candidate found that 125 people would vote for her in a two person race, what is the 99% confidence interval for her expected proportion of the vote?
"Using the data in the Excel file Accounting Professionals, find and interpret 95% confidence intervals for the following:a. Mean years of serviceb. Proportion of employees who have a graduate degree
Find the standard deviation of the total assets held by the bank in the Excel file Credit Risk Data.a. Treating the records in the database as a population and compute 90%, 95%, and 99%
The Excel file Restaurant Sales provides sample information on lunch, dinner, and delivery sales for a local Italian restaurant. Develop 95% confidence intervals for the mean of each of these
Using the data in the worksheet Consumer Transportation Survey, develop 95% confidence intervals for the following:a. The proportion of individuals who are satisfied with their vehicleb. The
A manufacturer conducted a survey among 500 randomly selected target market households in the test market for its new disposable diapers. The objective of the survey was to determine the market share
Using data in the Excel file Colleges and Universities, find 95% confidence intervals for the median SAT for each of the two groups, liberal arts colleges and research universities. Based on these
Number the rows in the Excel file Credit Risk Data to identify each record. The bank wants to sample from this database to conduct a moredetailed audit. Use the Excel Sampling tool to find a simple
The Excel file Baseball Attendance shows the attendance in thousands at San Francisco Giants’ baseball games for the 10 years before the Oakland A’s moved to the Bay Area in 1968, as well as the
A marketing study found that the mean spending in 15 categories of consumer items for 297 respondents in the 18– 34 age group was $ 91.86 with a standard deviation of $ 50.90. For 536 respondents
A study of nonfatal occupational injuries in the United States found that about 31% of all injuries in the service sector involved the back. The National Institute for Occupational Safety and Health
Using the data in the worksheet Consumer Transportation Survey, develop 95% and 99% prediction intervals for the following:a. The hours per week that an individual will spend in his or her vehicleb.
The Excel file Restaurant Sales provides sample information on lunch, dinner, and delivery sales for a local Italian restaurant. Develop 95% prediction intervals for the daily dollar sales of each of
For the Excel file Credit Approval Decisions, find 95% confidence and prediction intervals for the credit scores and revolving balance of homeowners and non homeowners. How do they compare?
Trade associations, such as the United Dairy Farmers Association, frequently conduct surveys to identify characteristics of their membership. If this organization conducted a survey to estimate the
If a manufacturer conducted a survey among randomly selected target market households and wanted to be 95% confident that the difference between the sample estimate and the actual market share for
An Oregon wine association wants to determine the proportion of west coast consumers who would spend at least $ 30 on Willamette Valley pinot noir at a 99% confidence level. If they wish to have an
A community hospital wants to estimate the body mass index (BMI) of its local population. To estimate the BMI with an error of at most 1.0 at a 95% confidence level, what sample size should they use?
Describe how to apply stratified sampling to sample from the Credit Risk Data file based on the different types of loans. Implement your process in Excel to choose a random sample consisting of 10%
Find the current 30 stocks that comprise the Dow Jones Industrial Average. Set up an Excel spreadsheet for their names, market capitalization, and one or two other key financial statistics (search
Repeat the sampling experiment in Describe how to apply stratified sampling to sample from the Credit Risk Data file based on the different types of loans. Implement your process in Excel to choose a
In determining automobile mileage ratings, it was found that the mpg in the city for a certain model is normally distributed, with a mean of 30 mpg and a standard deviation of 1.0 mpg. Suppose that
A popular soft drink is sold in 2 liter (2,000milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 18, normally
A sample of 33 airline passengers found that the average check- in time is 2.167. Based on long term data, the population standard deviation is known to be 0.48. Find a 95% confidence interval for
A sample of 20 international students attending an urban U. S. university found that the average amount budgeted for expenses per month was $ 1612.50 with a standard deviation of $ 1179.64. Find a
The background for this case was introduced in Chapter 1. This is a continuation of the case in Chapter 4. For this part of the case, compute confidence intervals for means and proportions, and
"In reviewing your previous reports, several questions came to Elizabeth Burke’s mind. Use point and interval estimates to help answer these questions.1. What proportion of customer’s rate the
Create an Excel workbook with worksheet templates (similar to the Excel workbook Confidence Intervals) for one sample hypothesis tests for means and proportions. Apply your templates to the example
Using the data in the Excel file Computer Repair Times, determine if the company can claim that its average repair time is less than 15 days.
The State of Ohio Department of Education has a mandated ninth grade proficiency test that covers writing, reading, mathematics, citizenship (social studies), and science. The Excel file Ohio
Formulate and test hypotheses to determine if statistical evidence suggests that the graduation rate for (1) top liberal arts colleges or (2) research universities in the sample Colleges and
The Excel file Sales Data provides data on a sample of customers. An industry trade publication stated that the average profit per customer for this industry was at least $ 4,500. Using a test of
The Excel file Room Inspection provides data for 100 room inspections at each of 25 hotels in a major chain. Management would like the proportion of nonconforming rooms to be less than 2%. Test an
An employer is considering negotiating its pricing structure for health insurance with its provider if there is sufficient evidence that customers will be willing to pay a lower premium for a higher
Using the data in the Excel file Consumer Transportation Survey, test the following null hypotheses:a. Individuals spend at least 8 hours per week in their vehicles.b. Individuals drive an average of
Using the Excel file Facebook Survey, determine if the mean number of hours spent online per week is the same for males as it is for females.
Determine if there is evidence to conclude that the mean number of vacations taken by married individuals is less than the number taken by single/ divorced individuals using the data in the Excel
The Excel file Accounting Professionals provides the results of a survey of 27 employees in a tax division of a Fortune 100 company.a. Test the null hypothesis that the average number of years of
A business school has a goal that the average number of years of work experience of MBA applicants is at least 3 years. Based on last year’s applicants, it was found that among a sample of 47, the
In the Excel file Cell Phone Survey, test the hypothesis that the mean responses for Value for the Dollar and Customer Service do not differ by gender.
In the Excel file Credit Risk Data, test the hypotheses that the number of months employed is the same for applicants with low credit risk as those with high credit risk evaluations. Use a level of
Determine if there is evidence to conclude that the mean GPA of males who plan to attend graduate school is larger than that of females who plan to attend graduate school using the data in the Excel
The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers (see the Excel file Call Center Data). For each of the following,
"A producer of computer aided design software for the aerospace industry receives numerous calls for technical support. Tracking software is used to monitor response and resolution times. In
Using the data in the Excel file Ohio Education Performance, test the hypotheses that the mean difference in writing and reading scores is zero and that the mean difference in math and science scores
The Excel file Unions and Labor Law Data reports the percent of public and private sector employees in unions in 1982 for each state, along with indicators whether the states had a bargaining law
Using the data in the Excel file Student Grades, which represent exam scores in one section of a large statistics course, test the hypothesis that the variance in grades is the same for both tests.
In the Excel file Restaurant Sales, determine if the variance of weekday sales is the same as that of weekend sales for each of the three variables (lunch, dinner, and delivery).
A college is trying to determine if there is a significant difference in the mean GMAT score of students from different undergraduate backgrounds who apply to the MBA program. The Excel file GMAT
A bank has historically found that the average monthly charges in recent years on its credit card were $ 1,350. With an improving economy, they suspect that this has increased. A sample of 42
Using the data in the Excel file Cell Phone Survey, apply ANOVA to determine if the mean response for Value for the Dollar is the same for different types of cell phones.
Using the data in the Excel file Freshman College Data, use ANOVA to determine whether significant differences exist in the mean retention rate for the different colleges over the 4 year period.
An online bookseller is trying to determine whether customers’ gender is independent of the genre of books they most often purchase. A sample of customers revealed the following:What can the
A survey of college students determined the preference for cell phone providers. The following data were obtained:Can we conclude that gender and cell phone provider are independent? If not, what
For the data in the Excel file Accounting Professionals, perform a chi square test of independence to determine if age group is independent of having a graduate degree.
For the data in the Excel file Graduate School Survey, perform a chi square test for independence to determine if plans to attend graduate school are independent of gender.
A retailer believes that its new advertising strategy will increase sales. Previously, the mean spending in 15 categories of consumer items in both the 18– 34 and 35+ age groups was $ 70.00.a.
A financial advisor believes that the proportion of investors who are risk averse (i. e., try to avoid risk in their investment decisions) is at least 0.7. A survey of 32 investors found that 20 of
A university believes that the average retirement age among the faculty is now 70 instead of the historical value of 65. A sample of 85 faculty found that the average of their expected retirement age
An online bookseller is considering selling an ereader but will only do so if they have evidence that the proportion of customers that will likely purchase one is at least 0.4. Based on a survey of

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