Question

Royal Barton started thinking about an electric fishing reel when his father had a stroke and lost the use of an arm. To see that happen to his dad, who had taught him the joys of fishing and hunting, made Barton realize what a chunk a physical handicap could take out of a sports enthusiast’s life. Being able to cast and retrieve a lure and experience the thrill of a big bass trying to take your rig away from you were among the joys of life that would be denied Barton’s father forever.

Barton was determined to do something about it, if not for his father, then at least for others who had suffered a similar

fate. So, after tremendous personal expense and years of research and development, Barton perfected what is sure to be

the standard bearer for all future freshwater electric reels. Forget those saltwater jobs, which Barton refers to as “winches.” He has developed something that is small, compact, and has incredible applications. He calls it the Royal Bee. The first word is obviously his first name. The second word refers to the low buzzing sound the reel makes when in use.

The Royal Bee system looks simple enough and probably is if you understand the mechanical workings of a reel. A system of gears ties into the spool, and a motor in the back drives the gears attached to the triggering system. All gearing of the electrical system can be disengaged so that you can cast normally. But pushing the button for “retrieve” engages two gears. After the gears are engaged, the trigger travels far enough to touch the switch that tightens the drive belt, and there is no slipping. You cannot hit the switch until the gears are properly engaged. This means that you cast manually, just as you would normally fish, then you reengage the reel for the level wind to work. And you can do all that with one hand!

The system works on a 6-volt battery that you can attach to your belt or hang around your neck if you are wading. If you have a boat with a 6-volt battery, the reel can actually work off of the battery. There is a small connector that plugs into the reel, so you could easily use more than one reel with the battery. For instance, if you have two or three outfits equipped with different lures, you just switch the connector from reel to reel as you use it. A reel with the Royal Bee system can be used in a conventional manner. You do not have to use it as an electric reel unless you choose to do so.

Barton believes the Royal Bee may not be just for handicapped fishermen. Ken Cook, one of the leading professional anglers in the country, is sold on the Royal Bee. After he suffered a broken arm, he had to withdraw from some tournaments because

fishing with one hand was difficult. By the time his arm healed, he was hooked on the Royal Bee because it increased bassing efficiency. As Cook explains, “The electric reel has increased my efficiency in two ways. One is in flipping, where I use it all the time. The other is for fishing top water, when I have to make a long cast. When I’m flipping, the electric reel gives me instant control over slack line. I can keep both hands on the rod. I never have to remove them to take up slack. I flip, engage the reel, and then all I have to do is push the lever with my thumb to take up slack instantly.”

Cook’s reel (a Ryobi 4000) is one of several that can be converted to the electric retrieve. For flipping, Cook loads his reel with 20- pound test line. He uses a similar reel with lighter line when fishing a surface lure. “What you can do with the electric reel is eliminate unproductive reeling time,” Cook says. A few extra seconds may not mean much if you are out on a

neighborhood pond just fishing on the weekend. But it can mean a lot if you are in tournament competition, where one extra cast might keep you from going home with $50,000 tucked in your pocket. “Look at it this way,” Cook explains. “Let’s suppose we’re in clear water and it’s necessary to make a long cast to the cover we want to fish with a top water lure. There’s a whole lot of unproductive water between us and the cover. With the electric reel, I make my long cast and fish the cover. Then, when I’m ready to reel in, I just press the retrieve lever, so the battery engages the necessary gears, and I’ve got my lure back ready to make another cast while you’re still cranking.” When Royal Barton retired from his veterinary supply business, he began enjoying his favorite pastimes: hunting, fishing, and developing the Royal Bee system. He realized he needed help in marketing his product, so he sought professional assistance to learn how to reach the broadest possible market for the Royal Bee system.

Questions

1. What business research problem does Royal Barton face? Outline some survey research objectives for a research project on the Royal Bee system.

2. What type of survey—personal interview, telephone interview, or mail survey—should be selected? Why?

3. What sources of survey error are most likely to occur in a study of this type?

4. Suppose the speed limits in 13 countries in miles per hour are as follows:

Country Highway Miles per Hour

Italy. 87

France 81

Hungary 75

Belgium 75

Portugal 75

Great Britain 70

Spain 62

Denmark 62

Netherlands 62

Greece 62

Japan 62

Norway 56

Turkey. 56

a) What is the mean, median, and mode for these data?

b) Calculate the standard deviation for the data.

c) Calculate the expected value of the speed limit with a confidence interval of 98%.

5. Suppose a survey researcher studying annual expenditures on lipstick wishes to have a 99 percent confidence level and a range of error (E) of less than $2. If the estimate of the standard deviation is $29, what sample size is required for this?

1. What business research problem does Royal Barton face? Outline some survey research objectives for a research project on the Royal Bee system.

2. What type of survey—personal interview, telephone interview, or mail survey—should be selected? Why?

3. What sources of survey error are most likely to occur in a study of this type?

5. Suppose a survey researcher studying annual expenditures on lipstick wishes to have a 99 percent confidence level and a range of error (E) of less than $2. If the estimate of the standard deviation is $29, what sample size is required for this?

Answer 1

4)

a)

mean =    ΣX/n =    885/13=   68.08

Median=0.5(n+1)th value =    7th value of sorted data=   62.00

mode= highest frequency data =        62

b)

X	(X - X̄)	(X - X̄)²
87	18.92	358.08
81	12.92	167.01
75	6.92	47.93
75	6.92	47.93
75	6.92	47.93
70	1.92	3.70
62	-6.08	36.929
62	-6.08	36.929
62	-6.08	36.929
62	-6.08	36.929
62	-6.08	36.929
56	-12.08	145.852
56	-12.08	145.852

sample std dev =   √ [ Σ(X - X̄)²/(n-1)] =   √(1148.9231/12)=   9.78

c)

Level of Significance ,    α =    0.02          
degree of freedom=   DF=n-1=   12          
't value='   tα/2=   2.681   [Excel formula =t.inv(α/2,df) ]      
                  
Standard Error , SE = s/√n =   9.7849/√13=   2.7138          
margin of error , E=t*SE =   2.6810   *   2.7138   =   7.276
                  
confidence interval is                   
Interval Lower Limit = x̅ - E =    68.08   -   7.2758   =   60.8011
Interval Upper Limit = x̅ + E =    68.08   -   7.2758   =   75.3527
98%   confidence interval is (   60.80   < µ <   75.35   )

5)

Standard Deviation ,   σ =    29                  
sampling error ,    E =   2                  
Confidence Level ,   CL=   99%                  
                          
alpha =   1-CL =   1%                  
Z value =    Zα/2 =    2.576   [excel formula =normsinv(α/2)]              
                          
Sample Size,n = (Z * σ / E )² = (   2.576   *   29   /   2   ) ² =   1394.987
                          
                          
So,Sample Size needed=       1395                  

Please let me know in case of any doubt.

Thanks in advance!

Please upvote!