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Chapter 1: Introduction To Statistics Assignment: Answers

This document provides answers to questions about descriptive and inferential statistics for an operations manager at a battery manufacturing plant. It also classifies different variables as nominal, ordinal, or interval levels of measurement and provides examples of data that could be gathered from various industries for decision making.

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793 views

Chapter 1: Introduction To Statistics Assignment: Answers

This document provides answers to questions about descriptive and inferential statistics for an operations manager at a battery manufacturing plant. It also classifies different variables as nominal, ordinal, or interval levels of measurement and provides examples of data that could be gathered from various industries for decision making.

Uploaded by

rupasree dey
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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ANSWERS :

Chapter 1: Introduction to Statistics Assignment


1 Q. 1 Suppose you are an operations manager for a plant that manufactures batteries. Give an
example of how you could use descriptive statistics to make better managerial decisions. Give an
example of how you could use inferential statistics to make better managerial decisions.

ANS: As an operation manager the decision to improve the operation of the battery manufacturing
plant using statistics in descriptive, first must be made by collecting a sample of the battery and
determining the average shelf life before deciding on all such batteries, testing the sample and then
advertising . Comparing the statistics with the shelf-life of a competing battery to make management
appoint to understand the total hours per worker per plant per week - labour cost, work allocation,
productivity, etc.

Using this survey reconstruction, more work needs to be done to produce more products with an
optimistic attitude by identifying aspects of work that create a positive environment. Compare the
sales volume of a battery company in a year, whether the product is profitable, how much will be
advertised in the next year, cost to determine profitability. Collect samples and how many batteries
they buy each year. To increase product sales by collecting information on information, market
potential and penetration estimates for the management of the entire population and creating
commercial motivation for promotional retail to use inferential statistic

Q. 2 Classify each of the following as nominal, ordinal, interval

a. An employee’s identification number-nominal level, Using a nominal scale, one simply names or
categorizes responses Gender, handedness, favourite colour, and religion are variable measures

b.The ranking of a company by Fortune 500- ordinal level can uses rank order objects

c. The ranking of four machines in your plant after they have been designated as excellent, good,
satisfactory, and poor - ordinal level

d. The trade balance in dollar – interval level

e. BSE Sensex- interval level

Q. 3 The Rathburn Manufacturing Company makes electric wiring, which it sells to contractors in the
construction industry. Approximately 900 electric contractors purchase wire from Rathburn
annually. Rathburn’s director of marketing wants to determine electric contractors’ satisfaction with
Rathburn’s wire. He developed a questionnaire that yields a satisfaction score between 10 and 50 for
participant responses. A random sample of 35 of the 900 contractors is asked to complete a
satisfaction survey. The satisfaction scores for the 35 participants are averaged to produce a mean
satisfaction score.

a. What is the population size for this study? - 900

b. What is the sample size for this study?-35


c. In above example, mean satisfaction score is parameter or statistic? - Sample mean (x) Satisfaction
score and Parameters are population mean (u).

Additional NOTE: (1) If the data came from a census, then the totals, averages, and percentages
presented in the Decision are POPULATION parameters. For example: population parameter
µ( Population mean) (2) If, on the other hand, the data were gathered from samples, then they are
sample statistic. For example: sample statistic x͞ (Sample Mean)

Q. 4 State examples of data that can be gathered for decision making purposes from each of the
following industries:

Manufacturing- inventory turnover ratio, sales volume, size of sale force, amount of production,
number of rejects, number of production workers etc.

Insurance- Life Expectancy, Number of Climes Per Month, amount of life insurance per family head,
life expectancy etc.

Travel- amount spent per day on besides lodging, number of miles travelled foreground transported
vacations, size of travelling party, cost of airfare, etc .

Agriculture- number of farms per county, farm income, wholesale prise of a gallon of milk , grain
storage capacity etc.

Healthcare- average cost of hospital stay, daily census of hospital, patient satisfaction etc .

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