Essay on Case 3

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Case Problem Set 3:
Problem 1:
Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years in a business/professional career. In its two years of publication the magazine has been fairly successful. Now the publisher is interested in expanding the magazine’s advertising base. Potential advertisers continually ask about the demographics and interests of subscribers to Young Professional. To collect this information the magazine has commissioned a survey to develop a profile of its subscribers. The survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. As a new employee of the magazine, you have been …show more content…

Develop 95% confidence intervals for the proportion of subscribers who have broadband access at home and proportion of subscribers who have children. 4. Would Young Professional be a good advertising outlet for online brokers? Justify your answer. 5. Would Young Professional be a good place to advertise for companies selling educational software and computer games for young children? 6. Comment on the type of articles you believe would be of interest to readers of Young Professional.

Problem 2:
Quality Associates, Inc., a consulting firm advises its clients about sampling and statistical procedures that can be used to control their manufacturing processes. In one particular application a client gave Quality Associates a sample of 800 observations taken during a time in which the client’s process was operating satisfactorily. The sample standard deviation of this data was 0.21; hence with so much data, the population standard deviation was assumed to be 0.21. Quality Associates then suggested that random samples of size 30 be taken periodically to monitor the process on an ongoing basis. By analyzing the new samples, the client could quickly learn whether the process was operating satisfactorily. When the process was not operating satisfactorily, corrective action could be taken to eliminate the problem. The design specification indicated the mean for the process should be 12. The hypothesis test suggested by Quality Associates follows.
H0: =12

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