Case Study
Cold Stone Creamery is a relatively new ice cream company that faces stiff competition in the marketplace from such established brands as Ben & Jerry’s and Haagen-Dazs. The first store was established in Saffron Walden, Essex in 2001. Since then the company has expanded to more than 20 stores (franchises) nationwide. Its market niche is that customers can personalise their serving by choosing a base flavour and then mixing it with a number of toppings. Employees do the mixing by hand on a frozen granite stone (hence the company name).
The challenge of course is to generate more store revenue and to increase market share. Research shows that the typical Cold Stone Creamery customer is a woman between the ages of 25 and 35, but that she also brings her friends and other family members with her.
The company has decided to do an integrated communications programme for the next year that would involve Public Relations, advertising and in-store marketing promotions for new products.
Question 1
What activities would you suggest in drawing up a creative PR campaign? Suggest a timetable and schedule for these activities whilst also including a programme for measuring the effectiveness of the campaign.

Delay Industry Quality Finished Public 62 0 3 1 0 45 0 3 3 1 54 0 2 2 0 71 0 1 2 1 91 0 1 1 0 62 0 4 4 0 61 0 3 2 0 69 0 5 2 1 80 0 1 1 0 52 0 5 3 0 47 0 3 2 0 65 0 2 3 1 60 0 1 3 0 81 1 1 2 0 73 1 2 2 0 89 1 2 1 0 71 1 5 4 0 76 1 2 2 0 68 1 1 2 0 68 1 5 2 0 86 1 2 2 0 76 1 3 1 1 67 1 2 3 0 57 1 4 2 0 55 1 3 2 1 54 1 5 2 0 69 1 3 3 0 82 1 5 1 0 94 1 1 1 0 74 1 5 2 1 75 1 4 3 1 69 1 2 2 0 71 1 4 4 0 79 1 5 2 0 80 1 1 4 0 91 1 4 1 0 92 1 1 4 0 46 1 4 3 1 72 1 5 2 0 85 1 5 1 0 Problem A (Modified from Textbook Ch7 #14) This problem is based on Ch4, #14 in your textbook. Please see this problem on p. 365 for the explanation of the data. But answer the questions below, not the ones in the textbook. Parts (a)(b)(c) here are similar to parts (a)(b)(c) in the textbook. So feel free to check your answers for those parts in the solution you have. a) To see if knowing whether a company is traded on an organized exchange or over-the-counter is helpful in predicting the audit delay, develop a simple regression model to predict audit delay by the dummy variable Public. b) At the 0.05 level of significance, is there a significant relationship between audit delay and Public? (Give your answer in a sentence including your interpretation of the F-test result.) c) Develop the estimated regression equation using all of the independent variables included in the data. d) How much of the variation in the sample values of delay does this estimated regression equation explain? e) At the 0.01 level of significance, is there a significant relationship between audit delay and the combined set of independent variables? (Carefully interpret the F-test result). f) Test the relationship between each independent variable and the dependent variable at the 0.05 level of significance. You will find one independent variable that is not significant. Which variable is this? g) Remove the nonsignificant variable and run a new regression. h) Give the resulting regression equation. Are all the independent variables significant now? Use the regression equation in (h) to answer the remaining questions. i) Predict the audit delay for a public, industrial company whose quality rating is 3 and the “finished” rating is 4. (Hint: Remember you can ignore the given value for a variable that is not included in your regression equation. For example, if the variable “finished” was not significant so was not included in the regression, then its given value 4 will not be used in our calculation.) Express the answer rounded to the first decimal digit. j) According to the regression from (e), is audit delay longer for an industrial company or a non-industrial company? By how many days? k) Suppose company A and B are both non-industrial and have the same “finished” rating, but A’s quality rating is 2 points higher than B’s. Is A’s audit delay longer or shorter than B? By how many days?

journalize the entries for the following transactions. Refer to the Chart of Accounts for exact wording of account titles. (Note: The company uses a clearinghouse to take care of all bank as well as non-bank credit cards used by its customers. )

HART OF ACCOUNTSGeneral Ledger

JOURNAL

ACCOUNTING EQUATION

Journalize the entries for the transactions on December 31. Refer to the Chart of Accounts for exact wording of account titles.

3. Assume that the time elapsed between customers entering a retail shop is exponentially decreasing by 15%. How long will the average customer continue to come before the shop runs out of business.

4. .The weight of the fabled Cobrafish is normally distributed with a mean of 45 kg. and a standard deviation of 6 kg. Approximately what percentage of Cobrafish (rounded to two decimal places) weigh between 30 kg. and 49 kg? Note: You must find the corresponding z-scores by hand, showing your work

5. A radar unit is used to measure speeds of cars on a motorway. The speeds are normally distributed with a mean of 90 km/hr and a standard deviation of 10 km/hr. What is the probability that a car picked at random is travelling less than 105 km/hr. Write your answer as a percentage.

3.Consider a coffee shop that has two types of customers: lawyers and doctors. The demand for espresso by lawyers is given by QL= 18 –3P, where P Is measured in dollars and Q Is measured in ounces. The demand for espresso by doctors is given by QD= 10 –2P. There are equal numbers of lawyers and doctors. The marginal cost of an ounce of espresso is $2.

(a)Suppose that the coffee shop can identify which customer is a doctor and which is a lawyer. The shop will offer each type of customer a specific size cup of espresso for some total price. How many ounces of espresso will lawyers be offered, and at what total price? How many ounces of espresso will doctors be offered, and at what total price? (HINT: you should find that lawyers are offered a 12 ounce drink for $48, and doctors are offered a 6 ounce drink for $21. Lawyers and doctors are both tired and rich!)

(b)Suppose that the shop owner can no longer distinguish the lawyers from the doctors (e.g., the doctors don’t put on their white coats before getting their espresso).Suppose the shop still offers the two options you found in part (a). That is, each customer has the option of paying $21 for 6 ounces or $48 for 12 ounces. How will the customers respond?

(c)Keeping the drink sizes the same (6 ounces and 12 ounces), how should the coffee shop owner change the total prices of the two drinks so that lawyers will buy the lawyer option and doctors will buy the doctors option, and profits are maximized?

(d)Describe qualitatively how the coffee shop owners should change the drink sizes (and then the prices) to increase profits even further, while still ensuring that lawyers will buy the lawyer option and doctors will buy the doctors option.

(e)Suppose that the coffee shop owner could only charge a single, uniform two-part tariff to all customers. That is, both lawyers and doctors pay the same cover charge Cand per-ounce price p. Describe qualitatively what C and p should be if the shop owner maximizes profits. Can you put upper and / or lower bounds on Cand/or p?

Customers arrive at a​ drive-up window of a​ fast-food restaurant at a rate of 3 per minute during lunch hour.

a. What is the probability that the next customer will arrive within 1 minute​?

b. What is the probability that the next customer will arrive within 3 ​minutes?

c. During the dinner time​ period, the arrival rate is 2 per minute. What are your answers to a and b for this​ period?

Round to four decimal places as needed.

3. Your goal as an account manager is to leverage your product to assist customers. Which of the following steps will you take to achieve your goals?

S1: By creating product awareness to the right kind of stakeholders

S2: By reducing the price of your product and services

S3: By creating an authentic product which is in line to customer requirements

a.            S1

b.            S3

c.             S2 and S3

d.            S3 and S1

1. In a shopping mall an average of 3 out of every 5 customers use visa credit cards. A sample of 10 customers is selected.
   1. Find the probability that exactly 6 customers use visa credit card.
   2. Find the probability that less than 9 customers use visa credit card.
   3. Now assume that a sample of 50 customers are selected. Find the smallest value of n such that P(X<n) ≥ 0.9, where the random variable X represents the number of customers who uses visa credit card.

Q54

(a) Describe the benefits of regarding internal colleagues as customers and/or suppliers. [3 Marks]

(b) Explain why it is important to develop positive relationships with other internal managers in the organisation. [1 Mark]

(c) Describe the factors you would take into account to ensure constructive discussions with an internal managerial colleague whose team’s performance is preventing your team from achieving its goals. [2 Marks]

Please give complete answers.