Question
In: Math
In order to control costs, a company wishes to study the amount of money its sales...
In order to control costs, a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by members of the sales force
| $ | 365 | $ | 309 | $ | 375 | $ | 379 | $ | 359 | $ | 373 | ||||||||||||
(a) Calculate x¯x¯ , s2, and s for the expense data. (Round "Mean" and "Variances" to 2 decimal places and "Standard Deviation" to 3 decimal places.)
| x¯x¯ | |
| s2 | |
| s | |
(b) Assuming that the distribution of
entertainment expenses is approximately normally distributed,
calculate estimates of tolerance intervals containing 68.26
percent, 95.44 percent, and 99.73 percent of all entertainment
expenses by the sales force. (Round intermediate
calculations and final answers to 2 decimals.)
| [x¯x¯ ± s] | [, ] |
| [x¯x¯ ± 2s] | [, ] |
| [x¯x¯ ± 3s] | [, ] |
(c) If a member of the sales force submits an entertainment expense (dinner cost for four) of $390, should this expense be considered unusually high (and possibly worthy of investigation by the company)? Explain your answer.
| No | |
| Yes |
(d) Compute and interpret the z-score for each of the six entertainment expenses. (Round z-score calculations to 2 decimal places. Negative amounts should be indicated by a minus sign.)
| z365 | |
| z309 | |
| z375 | |
| z379 | |
| z359 | |
| z373 | |
Solutions
milcah answered 1 year agoRelated Solutions
In order to control costs, a company wishes to study the amount of money its sales...
In order to control costs, a company wishes to study the amount
of money its sales force spends entertaining clients. The following
is a random sample of six entertainment expenses (dinner costs for
four people) from expense reports submitted by members of the sales
force
$
359
$
325
$
352
$
349
$
360
$
364
(a) Calculate x¯x¯ , s2,
and s for the expense data. (Round "Mean" and
"Variances" to 2 decimal places and "Standard Deviation" to...
In order to control costs, a company wishes to study the amount of money its sales...
In order to control costs, a company wishes to study the amount
of money its sales force spends entertaining clients. The following
is a random sample of six entertainment expenses (dinner costs for
four people) from expense reports submitted by members of the sales
force.
$
309
$
319
$
343
$
364
$
341
$
331
(a) Calculate x¯x¯ , s2,
and s for the expense data. (Round "Mean" and
"Variances" to 2 decimal places and "Standard Deviation" to...
In order to properly manage expenses, the company investigates the amount of money spent by its...
In order to properly manage expenses, the company investigates
the amount of money spent by its sales office. The below numbers
are related to six randomly selected receipts provided by the
staff.
$147 $124 $93 $158 $164 $171
a) Calculate x ̅ , s2 and s for the expense data.
b) Assume that the distribution of expenses is approximately
normally distributed. Calculate estimates of tolerance intervals
containing 68.26 percent, 95.44 percent, and 99.73 percent of all
expenses by the sales...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four
sales methods on weekly sales of a product. The organization
employs a randomized block design in which three salesman use each
sales method. The results obtained are given in the following
table, along with the Excel output of a randomized block ANOVA of
these data. Salesman, j Sales Method, i A B C 1 32 29 30 2 32 30 28
3 28 25 23 4 25 24 23 ANOVA:...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A
marketing organization wishes to study the effects of four sales
methods on weekly sales of a product. The organization employs a
randomized block design in which three salesman use each sales
method. The results obtained are given in the following table,
along with the Excel output of a randomized block ANOVA of these
data.
Salesman, j
Sales Method,
i
A
B
C
1
39
32
28
2
43
30
25
3
31
24
19
4
33
20
13
ANOVA:...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four
sales methods on weekly sales of a product. The organization
employs a randomized block design in which three salesman use each
sales method. The results obtained are given in the following
table, along with the JMP output of a randomized block ANOVA of
these data.
Salesman, j
Sales Method,
i
A
B
C
1
32
29
30
2
32
30
28
3
27
25
23
4
25
24
23
Analysis...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four
sales methods on weekly sales of a product. The organization
employs a randomized block design in which three salesman use each
sales method. The results obtained are given in the following
table, along with the Excel output of a randomized block ANOVA of
these data.
Salesman, j
Sales Method, i
A
B
C
1
35
28
24
2
42
32
25
3
32
24
20
4
32
20
15
ANOVA:...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four
sales methods on weekly sales of a product. The organization
employs a randomized block design in which three salesman use each
sales method. The results obtained are given in the following
table, along with the Excel output of a randomized block ANOVA of
these data. Salesman, j Sales Method, i A B C 1 38 30 25 2 43 28 26
3 31 24 20 4 32 19 17 ANOVA:...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four
sales methods on weekly sales of a product. The organization
employs a randomized block design in which three salesman use each
sales method. The results obtained are given in the following
table, along with the Excel output of a randomized block ANOVA of
these data.
Salesman, j
Sales Method, i
A
B
C
1
36
32
25
2
41
31
26
3
33
23
19
4
35
20
13
ANOVA:...
A marketing organization wishes to study the effects of four sales methods on weekly sales of...
A marketing organization wishes to study the effects of four sales
methods on weekly sales of a product. The organization employs a
randomized block design in which three salesman use each sales
method. The results obtained are given in the following table,
along with the Excel output of a randomized block ANOVA of these
data.
Salesman, j
Sales Method,
i
A
B
C
1
38
29
28
2
38
32
28
3
33
23
16
4
32
20
14
ANOVA:...
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