Most global organizations consider inventory management critical to maintain sales and stay in business. However, is...

   
 

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Most global organizations consider inventory management critical to maintain sales and stay in business. However, is there a difference among North American, European, and Asian organizations in the proportion of organizations that have an inventory management plan that reduces wastes and increases efficiency? A random sample of 157 North American organizations, 138 European organizations, and 103 Asian organizations was surveyed. They were asked to indicate if they have an inventory management plan that reduces wastes and increases efficiency. The study showed that 114 North American organizations, 81 European organizations, and 79 Asian organizations have an inventory management plan that reduces wastes and increases efficiency. a. What are the null and alternative hypotheses for determining if there is a difference among at least one of the three global regions in the proportion of firms that have an inventory management plan that reduces wastes and increases efficiency? State the test that should be conducted and reason. Ho H₁: Test to be used and reason: b. To test your claims, you need to construct a contingency frequency table for the two categorical variables with their categories. You decide to start with the following data. Fill in the blanks in the data table and contingency frequency table below: Data Level of Significance Number of Rows (Variable 1) Number of Columns (Variable 2) Degrees of Freedom 0.01 Construct the Observed Frequencies in the following table. Fill in the top rows and first column with the names of the variables and their categories. Observed Frequencies c. Construct the Expected Frequencies in the table below. Fill in the top rows and first column with the names of the variables and their categories. Keep at least 4 decimal places. Expected Frequencies d. Find the test statistic. Keep at least 4 decimal places. Use the space below for the calculation. Test Statistic e. Find the critical value at the 0.01 level of significance. Keep at least 2 decimal places. Critical Value f. At the 0.01 level of significance, is there evidence of a difference among at least one of the three global regions with respect to the proportion of firms that have an inventory management plan that reduces wastes and increases efficiency? Explain how you made the decision and state the conclusion. Most global organizations consider inventory management critical to maintain sales and stay in business. However, is there a difference among North American, European, and Asian organizations in the proportion of organizations that have an inventory management plan that reduces wastes and increases efficiency? A random sample of 157 North American organizations, 138 European organizations, and 103 Asian organizations was surveyed. They were asked to indicate if they have an inventory management plan that reduces wastes and increases efficiency. The study showed that 114 North American organizations, 81 European organizations, and 79 Asian organizations have an inventory management plan that reduces wastes and increases efficiency. a. What are the null and alternative hypotheses for determining if there is a difference among at least one of the three global regions in the proportion of firms that have an inventory management plan that reduces wastes and increases efficiency? State the test that should be conducted and reason. Ho H₁: Test to be used and reason: b. To test your claims, you need to construct a contingency frequency table for the two categorical variables with their categories. You decide to start with the following data. Fill in the blanks in the data table and contingency frequency table below: Data Level of Significance Number of Rows (Variable 1) Number of Columns (Variable 2) Degrees of Freedom 0.01 Construct the Observed Frequencies in the following table. Fill in the top rows and first column with the names of the variables and their categories. Observed Frequencies c. Construct the Expected Frequencies in the table below. Fill in the top rows and first column with the names of the variables and their categories. Keep at least 4 decimal places. Expected Frequencies d. Find the test statistic. Keep at least 4 decimal places. Use the space below for the calculation. Test Statistic e. Find the critical value at the 0.01 level of significance. Keep at least 2 decimal places. Critical Value f. At the 0.01 level of significance, is there evidence of a difference among at least one of the three global regions with respect to the proportion of firms that have an inventory management plan that reduces wastes and increases efficiency? Explain how you made the decision and state the conclusion.