In what proportion of the time will the goal value be met

Reference no: EM131388715

Refer to given Exercise. In order to boost product sales, the manager is contemplating the hiring of an additional sales staff. The added monthly cost of this hire will be $6000, but the expected monthly sales is projected to be $65,000 with a standard deviation of $5000. If the monthly goal value is still $42,000, what is the lower capability index? Is this a better situation compared to that in Exercise 9-46? In what proportion of the time will the goal value be met now?

Exercise
For a marketing manager of a company, product sales in a specified market is of importance. Currently, for a brand-named product, the mean monthly sales is $50,000 with a standard deviation of $3500.

Assuming normality of the distribution of monthly sales, for a minimum monthly goal of $42,000, what is the lower capability index? In what proportion of the time will the goal value be met?

Reference no: EM131388715

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