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1. Briefly describe stratified sampling and how it is different from simple random sampling. Clearly explain why market researchers generally prefer to do stratified sampling if possible. Use a realistic example as an illustration (do not use the example from the videos).
2. What is the most important difference between interval and ratio scales? Provide an example of an interval scale and also of a ratio scale that could be used in a market research study (do not use the examples from the videos). Explain clearly why a rank order scale like the following could not be considered an interval scale:
“Rank the following five Kellogg’s cereals in order of preference, where 1 is your most preferred and 5 is your least preferred: Corn Flakes, Rice Krispies, Special K, Froot Loops, Raisin Bran.”
A heavy manufacturing company wants to decide whether to initiate a new project which will last for 5 years. The success of the project depends heavily on the state of the eco
In the basic EOQ model, if the cost of placing an order doubles, and all other values remain constant, will the EOQ value increase or decrease and by what percentage? A produc
A firm pursuing a strategy based on customization and variety will tend to structure and manage its supply chain to accommodate more _____________ than a firm pursuing a strat
A chemical manufacturer produces a compound at the rate of 10,000 pounds a day over 250 days each year. Annual demand for that compound is 600,000 pounds per year, and each po
Discuss the relative advantages and disadvantages of using futures versus forward contracts for hedging purposes. Differentiate OD from other organization wide initiatives and
Briefly describe autocorrelation in time series data. Why is time-series analysis important? Briefly describe how Winters' model differs from Holt's model and simple exponenti
Wood4Fun makes wooden playground equipment for the institutional and consumer markets. The company strives for low-cost, high-quality production because it operates in a highl
Which one of the five steps in the human resource planning process is best illustrated in the article? Â Explain how you know.? Which one of the common employee training and d
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