What business implications of this study to chemical company

Assignment Help Mechanical Engineering

Reference no: EM131016721

Business is very good for a chemical company. In fact, it is so good that workers are averaging more than 40 hours per week at each of the chemical company's five plants. However, management is not certain whether there is a difference between the five plants in the average number of hours worked per week per worker. Random samples of data are taken at each of the five plants. The data are analyzed using Excel. The results follow. Explain the design of the study and determine whether there is an overall significant difference between the means at a = .05? Why or why not? What are the values of the means? What are the business implications of this study to the chemical company?

SUMMARY

Groups Plant 1	Count 11	Sum 636.5577		Average 57.87	Variance 63.5949
Plant 2	12	601.7648		50.15	62.4813
Plant 3	8	491.7352		61.47	47.4772
Plant 4	5	246.0172		49.20	65.6072
Plant 5	7	398.6368		56.95	140.3540
ANOVA
Source of Variation	SS	df	MS		F	P-value F crit
Between Groups	900.0863	4	225.0216		3.10	0.026595 2.62
Within Groups	2760.136	38	72.63516
Total	3660.223	42

Reference no: EM131016721

Questions Cloud

Name three professional cost management organizations : Explain how cost management fits into a corporate strategy given the global competitive environment? What role does the Internet play in the information gathered by cost management?

Define the term cultural competency : Explain briefly how events in your own background could affect your behaviour and interactions with people from other cultures - Define the term ‘Cultural Competency' and explain why it is important for Educators to be culturally competent?

Explain which of the two projects the firm should accept : A firm must choose from one of two proposed projects presented below. The farm's cost of capital is 11.25%. Using the NPV method explain which of the two projects the firm should accept with an initial investment of initial investment = $185000

What is the cost of goods sold : A manufacturer has beginning and ending finished goods inventory of $500,000 and $400,000 respectively. Also, the cost of goods manufactured id $120,000. what is the cost of goods sold?

What business implications of this study to chemical company : The results follow. Explain the design of the study and determine whether there is an overall significant difference between the means at a = .05? Why or why not? What are the values of the means? What are the business implications of this study t..

Depreciation expense may be recorded : Depreciation expense may be recorded for which of the following?

When a plant asset is retired from productive service : When a plant asset is retired from productive service, (without any sale) that originally cost $100,000 and had accumulated depreciation of $80,000, the correct accounting treatment is what?

What would be the correct journal entries to record : What would be the correct journal entries to record $10 depletion?

What are the cultural legal and security issues : When developing the software and functionality for an app, what are the cultural, legal, and security issues and concerns that you need to consider that may impact American culture

User Account

All Pages