Question

In: Statistics and Probability

Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and...

Scrapper Elevator Company has 20 sales representatives who sell its product throughout the United States and Canada. The number of units sold last month by each representative is listed below. Assume these sales figures to be the population values. 2 3 2 3 3 4 2 4 3 2 2 7 3 4 5 3 3 3 3 5 picture Click here for the Excel Data File Draw a graph showing the population distribution. (Click on the x-axis exactly below the "0" point and then drag the bar till it reaches the correct answer.) Compute the population mean. (Round your answer to 1 decimal place.) Compute the standard deviation. (Round your answer to 2 decimal places.) If you were able to list all possible samples of size five from this population of 20, how would the sample means be distributed? What would be the mean of the sample means? (Round your answer to 2 decimal places.) What would be the standard deviation of the sample means? (Round your answer to 2 decimal places.)?

Solutions

Expert Solution


Related Solutions

6. A company has 48 sales representatives, one for each state in the contiguous United States....
6. A company has 48 sales representatives, one for each state in the contiguous United States. Each state is divided into four regions. Each state sales representative only reports the average sales from the state he or she covers each week. The average reported is calculated from one individual data point per region. Before the New National Sales Manager was hired, the average sales reported per state each week was $95,000 with a standard deviation of $12,000. The National Sales...
The New Sales Procedures The Marin Company has more than 100 field sales representatives who sell a line of complex industrial products.
The New Sales Procedures The Marin Company has more than 100 field sales representatives who sell a line of complex industrial products. Sales of these products require close work with buyers to determine their product needs, so nearly all sales representatives are college graduates in engineering and science. Other product lines of the Marin Company, such as consumer products, are sold by a separate sales group. Recently, the firm established a new companywide control and report system using a larger...
The United Colours Corporation has $20 million in Sales, and its cost of goods sold is...
The United Colours Corporation has $20 million in Sales, and its cost of goods sold is $15 million. The average inventory balance for the company is $10 million. In order to meet the industry average of 80 days, how would the firm have to change its investment in INVENTORY? Select one: a. Decrease by $7.95 million b. Decrease by $2.05 million c. Increase by $2.05 million d. Increase by $7.95 million
company, claims that the sales representatives makes an average of 20 calls per week on professors....
company, claims that the sales representatives makes an average of 20 calls per week on professors. Several representatives say that the estimate is too low. To investigate, a random sample of 28 sales representatives reveals that the mean number of calls made last week was 44 and variance is 2.41. Conduct an appropriate hypothesis test, at the 5% level of significance to determine if the mean number of calls per salesperson per week is more than 40. (a)     Provide the hypothesis...
A company whose operations (and costs) are located in the United States has most of its...
A company whose operations (and costs) are located in the United States has most of its sales in the United Kingdom. The company’s managers think the main effect on the pound-dollar rate will be Brexit but there are three possible scenarios: a messy Brexit causes a sharp depreciation of the pound, a post-Brexit investment boom causes an appreciation of the pound, or a delay of Brexit causes the pound-dollar rate to remain stable. a) Which of the three scenarios would...
“WakeUP”, a Mississippi company that produces coffee products, sells their products throughout the United States and...
“WakeUP”, a Mississippi company that produces coffee products, sells their products throughout the United States and is considering expanding its business into Europe. If so, they will have income derived from sales to US Customers and income derived from sales within Europe. Assess the impacts that selling their products abroad will have to WakeUP and any tax incentives that will apply to their situation.
Your company produces mass spectrometers for sale to colleges and universities throughout the United States. On...
Your company produces mass spectrometers for sale to colleges and universities throughout the United States. On February 12, the University of Washtaw contacts your company to purchase 12 mass spectrometers at $1,000,000 per unit. You enter into a contract with the university on March 1 under those terms, along with a delivery date of December 1. On April 10, you receive a letter from the university stating that, due to ambiguities in the contract language, they believe you are only...
A firm manufactures a product in the United States. Its costs of production and shipping are...
A firm manufactures a product in the United States. Its costs of production and shipping are $100. It sells the product in Silliestan for 1000 Zlotys which is equivalent to $500 (2 Zlotys = $1). Costs of distribution and selling in Silliestan are $100 (200 Zlotys) so the firm has a profit of $300. Within the next year, the Zloty is expected to fall from 2 Zlotys to the dollar to 4 Zlotys to the dollar while inflation in Silliestan...
Shorelake Tours Inc., operates a large number of tours throughout the United States. A study has...
Shorelake Tours Inc., operates a large number of tours throughout the United States. A study has indicated that some of the tours are not profitable, and consideration is being given to dropping these tours in order to improve the company's overall operating performance. One such tour is a two-day Battlefields of the Native American and Francophone Wars bus tour. An income statement from one of these tours is given below: Ticket revenue (100 seats x 45% occupancy x $80 ticket...
4. QT has a network of 150 gasoline outlets throughout the central United States. At any...
4. QT has a network of 150 gasoline outlets throughout the central United States. At any ne time, the company has 1.125 million gallons of gasoline inventory. Derek Larkin has suggested that QT hedge the risk of its gasoline inventories. a) Derek estimates the following relationship between spot (St) and futures (Ft) prices using the nearby 42000-gallon unleaded regular gasoline contract: Δ St = α + β Δ Ft + єt. If estimate of α = 0.5231 and β =...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT