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Suppose a fast-food restaurant wishes to estimate average sales volume for a new menu item Answer

  1. Below shown two NBA players’ scoring points per game:

 

Game                                     Player A                      Player B

1                                             21                                34

2                                              52                                29

3                                              15                                29

4                                              10                                22

5                                              29                                36

6                                              29                                27

7                                              29                                25

8                                              27                                12

 

  1. a) Which player is better? Show all the calculations (1 pt).

 

  1. b) Which player’s performance is more consistent? Use all the sample points andshow all the calculations (3 pts).

 

  1. The movie The Hunger Games: Mockingjay – Part 1 is in theaters in the U.S. as well as overseas. The movie distributor wants to know whether the audiences enjoy watching this film. In each of the three countries, Australia, Germany, and the U.S., a local research agency was hired to conduct surveys among the movie goers. Andrew, an Australian movie attendee gave a rating of 3 for enjoyment. Hanna, a German movie attendee gave a rating of 8, and Scott, an American movie attendee gave a rating of 85. The mean and standard deviation of the ratings in each country were also known. Which movie attendee enjoys watching the movie most? (2 pts)

Country                                    Mean                       SD                              Audience’s score

Australia               2.8                             1.1                             3 (Andrew)

Germany               7.0                             2.5                             8 (Hanna)

U.S.                           76.0                          12.0                          85 (Scott)

 

  1. Suppose a fast-food restaurant wishes to estimate average sales volume for a new menu item.  The restaurant has analyzed the sales of the item at a similar outlet and observed the following results:

x=  500 (mean daily sales)

S =    100 (standard deviation of sample)

n =    25 (sample size)

The restaurant manager wants to know into what range the mean daily sales should fall 95 percent of the time.  Perform this calculation (2 pts).

 

4.  A group of marketing researchers study the expenditures on dinning out. They want to have a 95 percent confident level (Z) and accept a magnitude of error (E) of less than $3.00. The estimate of the standard deviation is $24.00 based on their pilot study. What is the calculated sample size if they want to run a survey? (2 pts)

 

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