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business
business statistics in practice

Questions and Answers of Business Statistics In Practice

a. A car rental agency faces the decision of buying a fleet of cars, all of which will be the same size. It can purchase a fleet of small cars, medium cars, or large cars. The smallest cars are the
a. A small group of investors is considering planting a tree farm. Their choices are (1) don’t plant trees, (2) plant a small number of trees, or (3) plant a large number of trees. The investors
Shown here is a decision table from a business situation. The decision-maker has an opportunity to purchase sample information in the form of a forecast. With the sample information, the prior
a. A small retailer began as a mom-and-pop operation selling crafts and consignment items. During the past two years, the store’s volume grew significantly. The owners are trying to decide whether
Managers of a manufacturing firm decided to add picture frames to its list of production items. However, they have not decided how many to produce because they are uncertain about the level of
Shown here is a decision table. A forecast can be purchased by the decision-maker. The forecaster is not correct 100% of the time. Also given is a table containing the probabilities of the forecaster
Some companies use production learning curves to set pricing strategies. They price their product lower than the initial cost of making the product; after some period of time, the learning curve
a. Some oil speculators are interested in drilling an oil well. The rights to the land have been secured and they must decide whether to drill. The states of nature are that oil is present or that no
An entertainment company owns two amusement parks in British Columbia. It is faced with the decision of whether to open the parks in the winter. If it chooses to open the parks in the winter, it can
A Canadian manufacturing company has decided to consider producing a particular model of one of its products just for sale in Germany. Because of the German requirements, the product must be made
A person has a chance to invest $50,000 in a business venture. If the venture works, the investor will reap $200,000. If the venture fails, the investor will lose his money. It appears that there is
a. A city is considering airport expansion. In particular, the mayor and city council are trying to decide whether to sell bonds to construct a new terminal. The problem is that at present demand for
In 1895, Ignaz Schwinn and his partner, Adolph Arnold, incorporated Arnold, Schwinn & Company to produce bicycles. In the early years, with bicycle products such as the “Roadster,” a
1. In your own words, describe the meaning of nonparametric statistics.2. List two advantages and two disadvantages of nonparametric statistics.3. State the null and the alternative hypotheses in a
1. In your own words, describe the Mann-Whitney U test.2. What are the two key assumptions of the Mann-Whitney U test?
1. In your own words, describe the Wilcoxon matched-pairs signed rank test.2. What are the two key assumptions underlying the Wilcoxon matched-pairs signed rank test?
1. What can we use the Kruskal-Wallis test to determine?2. State the null and alternative hypotheses of the Kruskal-Wallis test.
1. What is the parametric alternative to the Friedman test?2. What are the key assumptions underlying the Friedman test?3. State the null and alternative hypotheses of the Friedman test.
1. What technique can be used to analyze the degree of association of two variables when only ordinal level data or ranked data are available?2. In the Spearman’s rank correlation technique, how
Study the R chart for the product and data used in Problem 18.24. Comment on the state of the production process for this item.Data from problem 18.24Study the chart on the size of a product that is
Study the chart on the size of a product that is supposed to measure 12 cm. Does the process appear to be out of control? Why or why not? Sample Mean 12.5 12.0 11.5 ot! 0 Chart for
Study the p chart for a manufactured item. The chart represents the results of testing 30 items at a time for compliance. Sixty different samples were taken for this chart. Discuss the results and
Study the c chart for nonconformances for a part produced in a manufacturing process. Comment on the results. Sample Count 3 N 0 0 1 10 c Chart for Flaws 20 30 Sample Number 40 50 UCL = 3.321 T =
A soft drink bottling company just ran a long line of 355 mL soft drink cans filled with cola. A sample of 32 cans is selected by inspectors looking for nonconforming items. Among the things the
Study the following Minitab output. What is the purpose of this statistical test? What are the results of this analysis? Mann-Whitney Confidence Interval and Test Median = 37.000 Median =
Study the following Minitab output. What is the purpose of this statistical test? What type of design was it? What was the result of the test? Friedman Test of Observations by Treatment Blocked by
1. What is the difference between manufacturing-based quality and value quality?2. What are the two different ways in which quality control can be undertaken?3. What is meant by “productivity”?4.
For each of the following scenarios, sketch the process with activities and decision points. Construct a flowchart by using the symbols depicted in Figure 18.1.a. A customer enters the office of an
What are the seven tools of process analysis? Provide a brief description of each.
A bank has just sent out a monthly reconciliation statement to a customer with an error in the person’s monthly income. Brainstorm to determine some possible causes of this error. Try to think of
1. What are control charts?2. What is the difference between x–charts, R charts, p charts, and c charts?
A toy-manufacturing company has been given a large order for small plastic whistles that will be given away by a large fast-food hamburger chain with its kids’ meal. Seven random samples of four
A local upscale restaurant uses a website to take and manage its reservations. It has been receiving an unusually high number of customer complaints about its reservation system. The restaurant
A survey of U.S. small-business owners was conducted to determine the challenges for growth for their businesses. The top challenge, selected by 46% of the small-business owners, was the economy. A
According to Statistics Canada (for 2017), 60% of all Canadian households have an air conditioner and 81% have trees on their property. 5 Suppose 91% of all Canadian households with an air
A recent study found that 30% of the travelling public said that their flight selections are influenced by perceptions of airline safety. Thirty-nine percent of the travelling public want to know the
Statistics Canada states that 90% of all Canadian households have energy-saving lights. In addition, 40% of all Canadian households have a truck, van, or sport utility vehicle (SUV). Suppose 38% of
Use the values in the contingency table to solve the equations given.a. P(G | A) = _____b. P(B | F) = _____c. P(C | E) = _____d. P(E | G) = _____ E F A 15 12 B 11 17 C 21 32 D 18 13 G 00 8 19 27 12
With the advent of online ordering, shipping has become more important to consumers. One survey showed that 80% of online consumers want same-day shipping. Another study showed that 24% of online
According to a survey of restaurant owners in the United States by Must-Have Menus, 77% of restaurant owners believe that they need to use social media as a marketing tool. A different survey by
Alex, Natasha, and Juan fill orders in a fast-food restaurant. Alex incorrectly fills 20% of the orders he takes. Natasha incorrectly fills 12% of the orders she takes. Juan incorrectly fills 5% of
In a small town, two lawn companies fertilize lawns during the summer. Maritime Lawn Service has 72% of the market. Thirty percent of the lawns fertilized by Maritime could be rated as very healthy
Use the values in the contingency table to solve the equations given.a. P(E) = ____b. P(B ∪ D) = ____c. P(A ∩ E) = ____d. P(B | E) = ____e. P(A ∪ B) = ____f. P(B ∩ C) = ____g. P(D | C) =
The following probability matrix contains a breakdown on the age and gender of physicians in a large city in a recent year.a. What is the probability that one randomly selected physician is 35–44
Suppose that a survey of small companies showed that 42% offer retirement plans, 61% offer life insurance, and 33% offer both retirement plans and life insurance as benefits. If a small company is
A survey was conducted for a TV network to understand what viewers consider to be the most important thing in their lives. Twenty-nine percent said “good health,” 21% responded “a happy
A survey by the Arthur Andersen Enterprise Group/National Small Business United attempted to determine what the leading challenges are for the growth and survival of small businesses. Although the
In a survey, 2,400 cable company subscribers were asked to share their complaints about the cable service. The number one complaint was the time to get through to a customer representative, with 17%
A small independent physicians’ practice has three doctors. Dr. Khan sees 41% of the patients, Dr. Chan sees 32%, and Dr. Jackson sees the rest. Dr. Khan requests blood tests on 5% of her patients,
The Steelcase Workplace Index studied the types of work-related activities that employees did while on vacation in the summer. Among other things, 40% read work-related material. Thirty-four percent
A telephone survey conducted by the Maritz Marketing Research company found that 43% of those interviewed expect to save more money next year than they saved last year. Forty-five percent of those
A recent survey revealed that about 25% of households have only a cellphone (no land line); additionally, 65% of households have highspeed Internet. Suppose of the households having only a cellphone,

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