A manufacturer of industrial wheels suspects that profitable orders are being lost because of the long time the firm takes to develop price quotes for potential customers. To investigate this possibility, 50 requests for price quotes were randomly selected from the set of all quotes made last year, and the processing time was determined for each quote. The processing times are displayed in Table 2.4, and each quote was classified according to whether the order was “lost” or not (i.e., whether or not the customer placed an order after receiving a price quote).

Data from Table 2.4

a. Use a statistical software package to create a frequency histogram for these data. Then shade the area under the histogram that corresponds to lost orders. Interpret the result.

b. Use a statistical software package to create a stem-and-leaf display for these data. Then shade each leaf of the display that corresponds to a lost order. Interpret the result.

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Table 2.4 Price Quote Processing Time (Days) Request Number Processing Time 2.36 5.73 6.60 10.05 5.13 1.88 2.52 2.00 4.69 1.91 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 6.75 3.92 3.46 2.64 3.63 3.44 9.49 4.90 7.45 20.23 3.91 1.70 16.29 Lost? No No No Yes No No No No No No Yes No No No No No Yes No No Yes No No Yes Request Number 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 Processing Time 3.34 6.00 5.92 7.28 1.25 4.01 7.59 13.42 3.24 3.37 14.06 5.10 6.44 7.76 4.40 5.48 7.51 6.18 8.22 4.37 2.93 9.95 4.46 Lost? No No No Yes No No No Yes No No Yes No No No No No No No Yes No No Yes No