Question: We utilize sample data in many applications in business. For example, if you are creating a marketing plan for optimum sales you want to understand

We utilize sample data in many applications in business. For example, if you are creating a marketing plan for optimum sales you want to understand the risks so you may want to assess the mean and proportion in your data. Discuss sources for the data and how you would go about collecting the sample data.
Instructions:
Your response must be in your own words. Your initial post should be 250 words minimum that reflects research. Provide attribution for the source of your learning.

Step by Step Solution

★★★★★

3.37 Rating (153 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Data sampling is a statistical analysis ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

If you are creating a model and one of the key considerations is which port of entry you should use, why would you model the port like you would model a warehouse? What costs would be relevant for...

You are creating a network at home that consists of multiple computers, a high-quality printer, and a router with access to high-speed Internet connection. Surely you do not need Windows Server 2008...

You are creating a system for a bowling alley to manage information about its leagues. During the modeling process, you create a state transition diagram for an object called LEAGUE BOWLERS. What are...

Do some research, from a reliable source, such as the U.S. Department of Labor (not a scholastic or school site or Widipedia) to find an interesting set of data and present the mean, median, mode and...

German psychologist David Loschelder and his colleagues (2014) conducted an experiment on negotiations. They cited tennis player Andy Roddicks agent, who thought it was always detrimental to make an...

23 How do you choose to argue? Educators frequently lament weaknesses in students oral and written arguments. In Thinking and Reasoning (April 2007), researchers at Columbia University conducted a...

Discuss how you will use social media to promote the Community Action Agency of Delaware County Pennsylvania Include the following for your Social Media Promotions Plan: A general synopsis of why...

You have decided to purchase a car and have narrowed your choice down to two cars. However, you have two areas of concern. First, you want to purchase the car that gets the better gas mileage....

Suppose that you are trying to compare two populations on some variable (GMAT scores of men versus women, for example). Specifically, you are testing the null hypothesis that the means of the two...

German psychologist David Loschelder and his colleagues conducted an experiment on negotiations (2014). They cited tennis player Andy Roddicks agent who thought it was always detrimental to make an...

Schuyler Company's standard cost per unit of component part G-34 is $8. During the month, jj,000.units of G-34 were purchased on account at a total cost of $96,960. In addition, there were 2,000...

5. Body mass index (BMI) is commonly used to estimate a healthy body weight based on how tall a person is. Suppose that we model the BMI measurements via normal distribution with mean u=40 and...

Carrie grandfather owns a farm. The farm earned $ 8 8 0 , 0 0 0 this year. The profits are expected to grow at 4 % per year forever. What is the value of the farm if the discount rate is 8 . 5 % ?...

2. A projectile is fired with a horizontal velocity of 30m/s from the top of a cliff 80m high. How far from the foot of the cliff will it strike? A. 112 m B. 230 m C. 121 m D. 151 m

The numbers of regular season wins for 10 football teams in a given season are given below. Determine the range, mean, variance, and standard deviation of the population data set. 2, 6, 15, 5, 14,...

In a random sample of six mobile devices, the mean repair cost was $60.00 and the standard deviation was $12.00. Assume the population is normally distributed and use a t-distribution to find the...

1. A runner makes one lap around a 200 m track in a time of 25s. What was the runner's average velocity in meter per second? . . 4 C. 0 D. 2

[2] A reservoir of hot water kept at 380K is well insulated except for a copper rod with a cross sectional area of 0.25 m? and a length of 0.50 meters. The rod is also well insulated except for its...

6 Theory of Machines 5. A shaft carries five masses A, B, C, D and E which revolve at the same radius in planes which are equidistant from one another. The magnitude of the masses in planes A, C and...

If two large companies merge, why might you want to run a multi-objective optimization to trade off the total cost of company one versus the total cost to company two? That is, why might this be...

Open the file Aggregating Customers.xls found on the book web site. This file contains a list of 10,000 raw ship-to points and some characteristics about these data points. How would you go about...

If your baseline models costs are 20% lower than the actual costs, under what conditions could this still be a valid baseline?

4. Correlate brain anatomy with behavior. Do people with some unusual behavior also have unusual brainspg78 If so, in what waypg78

3. Record brain activity during behavior. We might record changes in brain activity during fighting, sleeping, finding food, solving a problem, or any other behavior.