Question

In: Statistics and Probability

You have just been promoted to supervisor of a department that maintains records for billing. The...

You have just been promoted to supervisor of a department that maintains records for billing. The mean number of records that was made under the old supervisor was 27 within one hour with a standard deviation of 8. This was adopted as the standard for the population of entries. You need to make the case to your boss that your changes have improved the number that can be entered in one hour. You take a survey of 40 of your employees and find a mean of 29 records entered within one hour. Test your claim at the .05 level of significance. Be sure to show your hypothesis. What do you conclude? Would your results change if you used a .10 significance level? Do you have evidence for your boss that you have improved the process?

Solutions

Expert Solution

H0: Null Hypothesis: = 27

HA: Alternative Hypothesis: > 27

SE = /

= 8/

= 1.2649

Test Statistic is given by:

Z = (29 - 27)/1.2649

= 1.5811

= 0.05

From Table, critical value of Z = 1.645

Since the calculated value of Z = 1.5811 is less than critical value of Z = 1.645, the difference is not significant. Fail to reject null hypothesis.

Conclusion:
The data do not support the claim that your changes have improved the number that can be entered in one hour.

= 0.10

From Table, critical value of Z = 1.28

Since the calculated value of Z = 1.5811 is greater than critical value of Z = 1.28, the difference is significant. Reject null hypothesis.

Conclusion:
The data support the claim that your changes have improved the number that can be entered in one hour.

Your results would change if you used a .10 significance level. You have evidence for your boss that you have improved the process.


Related Solutions

a) You have just been hired as the new supervisor of an audit team for a...
a) You have just been hired as the new supervisor of an audit team for a national accounting firm. With four years of experience, you feel technically well prepared for the assignment. However, this is your first formal appointment as a ‘manager.’ Things are complicated at the moment. The team has 12 members of diverse demographic and cultural backgrounds, as well as work experience. There is an intense workload and lots of performance pressure. i. How will this situation challenge...
Assume that you have just been promoted to a new position where you have leadership responsibility....
Assume that you have just been promoted to a new position where you have leadership responsibility. You have never had formal leadership responsibilities before, and you wish to maximize the possibility that you will be successful with this new responsibility. Reflect upon the major leadership theories and models that we have learned about in this unit. Develop a Pro and Con list involving at least three of these theories/models. Reflect on each theory and discuss how the theory fits with...
You have just been hired as the new supervisor of an audit team for a national...
You have just been hired as the new supervisor of an audit team for a national accounting firm. With four years of experience, you feel technically well prepared for the assignment. However, this is your first formal appointment as a ‘manager.’ Things are complicated at the moment. The team has 12 members of diverse demographic and cultural backgrounds, as well as work experience. There is an intense workload and lots of performance pressure. i. How will this situation challenge you...
Grier & Associates maintains its records on the accrual basis. You have been engaged to convert...
Grier & Associates maintains its records on the accrual basis. You have been engaged to convert its income statement to the cash basis. The accrual basis income statement, along with additional information, follows: Grier & Associates Income Statement (Accrual Basis) For the Year Ended December 31, 2020 Sales Revenue $425,000 Expenses: Salaries and wages $170,000 Income taxes 65,000 Insurance 40,000 Depreciation 15,000 Interest                                  25,000           315,000 Net income   $110,000 Additional information:        Balances at 12/31                       2020                          2019         Accounts receivable $50,000                     $30,000 Salaries...
Factual Background Congratulations. You have just been promoted to a Senior Manager position in the Finance...
Factual Background Congratulations. You have just been promoted to a Senior Manager position in the Finance Department. You now supervise five (5) employees who process payroll for a large successful publishing company. You have worked for the company for six (6) years and you’ve worked alongside the employees you now supervise the entire time. You consider these coworkers who are now your subordinates as some of your closest friends. You often socialized after work, attended events together, and truly got...
You have been promoted to Assistant Director of your Laboratory Department. One of your first assignments...
You have been promoted to Assistant Director of your Laboratory Department. One of your first assignments is to prepare a recommendation for the replacement of one of your Coulter Counters. Your Department Director has asked that you work with the Financial staff in preparing this recommendation. Upon contacting the financial staff they tell you that their department has lost a number of analysts and ask if you could help in preparing the analysis since you are a recent graduate of...
You have been promoted to Assistant Director of your Laboratory Department. One of your first assignments...
You have been promoted to Assistant Director of your Laboratory Department. One of your first assignments is to prepare a recommendation for the replacement of one of your Coulter Counters. Your Department Director has asked that you work with the Financial staff in preparing this recommendation. Upon contacting the financial staff they tell you that their department has lost a number of analysts and ask if you could help in preparing the analysis since you are a recent graduate of...
Questions –  Jenna has recently been promoted to the supervisor position of a small business unit...
Questions –  Jenna has recently been promoted to the supervisor position of a small business unit of a wire and cable manufacturer. Since she has been promoted from the line, she is eager to learn about the different types of powers she has or can develop as a supervisor. Provide some suggestions.   Imagine you are a production supervisor at a hand-tool manufacturer such as Snap-on Tools. Your boss says, “I know you were looking forward to your trip to...
You have just been hired as a loan officer at San Diego State Bank. Your supervisor...
You have just been hired as a loan officer at San Diego State Bank. Your supervisor has given you a file containing a request from Mobile Company, a manufacturer of auto components, for a $1,000,000 five-year loan. Financial statement data on the company for the last two years are given below: Mobile Company Comparative Balance Sheet This Year Last Year   Assets      Current assets:           Cash $ 278,500 $ 355,750           Marketable securities 0 114,000           Accounts receivable, net 934,000...
Congratulations! You have been promoted to a senior leadership role and have been charged with improving...
Congratulations! You have been promoted to a senior leadership role and have been charged with improving financial performance in your organization. To do this, you will work with your team to create an environment of sustainable excellence – an environment which is committed to driving a shift from pay-for-service to pay-for-value. In the coming months, you will take a closer look at operating and capital budgets. You will also examine how costs are allocated and charged, and how the revenue...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT