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"Business Statistics for Contemporary Decision-Making", 6th edition - Chapter 10 case study (Seitz Corporation) Discussion 1. Seitz's list of several hundred business-to-business customers continues to grow. Managers would like to know whether the average dollar amount of sales per transaction per customer has changed from last year to this year. Suppose company accountants sampled 20 customers randomly from last year's records and determined that the mean sales per customer was $2,300, with a standard deviation of $500. They sampled 25 customers randomly from this year's files and determined that the mean sales per customer for this sample was $2,450, with a standard deviation of $540. Analyze these data and summarize your findings for managers. Explain how information can be used by decision makers. Assume that sales per customer are normally distributed.
A company is creating 5 new divisions and 8 managers are eligible to be appointed head of a division. With 8 managers trying for 5 jobs, how could the five new heads be arranged?
Quality Progress, Feburary 2005, reports on the results achieved by Bank of America in improving customer satisfaction and customer loyalty by listening to the "voice of the customer".
As a sample size approaches infinity, how does the student's t distribution compare to the normal z distribution? When a researcher draws a sample from a normal distribution, what can one conclude about the sample distribution? Explain.
Briefly describe correlational research. Name a variable from the workplace that might prove to provide a correlational relationship and explain why you would choose these two?
You're not sure if you should buy a stock and need to discover the probability of the stock having a positive return (based on one year).
Hypothesis test for the difference between two means - Assume the population standard deviations are not the same. At the 0.05 significance level, is there a difference in the mean waiting time?
In recent years, the interest rate on home mortgages has declined to less than 6.0 percent. However, according to a study by the Federal Reserve Board
Median can be a more suitable measure of central tendency than mean if distribution of data is extremely skewed.
At the .01 significance level, is there a relationship between job pressure and age?
Students will conduct one brief research exercise that will be written up as a research report using APA style.
A sample of 140 golfers showed that their average score on a particular golf course was 93.38 with a standard deviation of 4.36. Answer each of the following (show all work and state the final answer to at least two decimal places.):
State a question that can be answered in a "binomial" manner, such as Do you normally read the front page of a newspaper at least 4 times a week?
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