Concept explainers
Applying the Concepts–Basic
1.15 Performance-based logistics. In industry, performance-based logistics (PBL) strategies are increasingly popular ways to reduce cost, increase revenue, and attain customer satisfaction. The Journal of Business Logistics (Vol. 36, 2015) used the opinions of a sample of 17 upper-level employees of the U.S. Department of Defense and its suppliers to determine the factors that lead to successful PBL projects. The current position (e.g., vice president, manager [mgr.]), type of organization (commercial or government), and years of experience were measured for each employee interviewed. These data are listed below. Identify each variable measured as producing quantitative or qualitative data.
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Statistics For Business And Economics, University Of Connecticut
- During the Covid crisis, there were lockdowns and working-from-home, which made collecting data on unemployment more challenging. Researchers from a US University conducted a survey of 1,000 individuals in the labour force to assess rise in unemployment in September 2020. The object was to find out whether the unemployment rate had risen above a benchmark proportion of 5 per cent of the labour force in Scotland. Of the surveyed persons, 60 reported being unemployed in the week prior to the survey. Conduct a two-tailed test of whether unemployment rate during this period was 5 per cent. Set out your null and alternative hypotheses, significance level, test statistic, assumptions and sampling distribution clearly. Conduct the test and comment on the economic significance of the findings.arrow_forwardFor 25 years, Arthur Reynolds and Judy Temple tracked more than 1,400 children who participated in a publicly funded early childhood development program beginning at age 3. They found that children who participated in the program showed higher levels of educational attainment, socioeconomic status, and job skills, as well as lower rates of substance abuse, felony arrest, and incarceration, than those who did not receive school-based early education. One possible theory for the success of this program is that improving school readiness improved the children's success in school. The improved success in school in turn improved their readiness for adulthood, resulting in increased job skills and socioeconomic status as well as lower rates of substance abuse.arrow_forwardFor 25 years, Arthur Reynolds and Judy Temple tracked more than 1,400 children who participated in a publicly funded early childhood development program beginning at age 3. They found that children who participated in the program showed higher levels of educational attainment, socioeconomic status, and job skills, as well as lower rates of substance abuse, felony arrest, and incarceration, than those who did not receive school-based early education. One possible theory for the success of this program is that improving school readiness improved the children's success in school. The improved success in school in turn improved their readiness for adulthood, resulting in increased job skills and socioeconomic status as well as lower rates of substance abuse. What is the independent and dependent variable?arrow_forward
- Is it possible to have several dependent variables in a model? Are several variables possible in a decision-making problem? Which model—descriptive, predictive, or prescriptive—of a particular choice issue would you be most likely to employ if it were offered to you? Why? Give an example of a well-known corporate, political, or military leader who made a choice that either had a positive or negative impact. What distinguishes a computer model from a spreadsheet model?arrow_forward6.6.4 To study the difference in drug therapy adherence among subjects with depression who received usual care and those who received care in a collaborative care model was the goal of a study conducted by Finley et al. (A-21). The collaborative care model emphasized the role of clinical pharmacists in providing drug therapy management and treatment follow-up. Of the 50 subjects receiving usual care, 24 adhered to the prescribed drug regimen, while 50 out of 75 subjects in the collaborative care model adhered to the drug regimen. Construct a 90 percent confidence interval for the difference in adherence proportions for the populations of subjects represented by these two samples.arrow_forwardFloyd Distributors, Inc., provides a variety of auto parts to small local garages. Floyd purchases parts from manufacturers according to the EOQ model and then ships the parts from a regional warehouse direct to its customers. For a particular type of muffler, Floyd's EOQ analysis recommends orders with Q* = 20 to satisfy an annual demand of 180 mufflers. Floyd's has 250 working days per year, and the lead time averages 15 days.Note: Use Appendix B to identify the areas for the standard normal distribution. What is the reorder point if Floyd assumes a constant demand rate? If required, round your answer up to the nearest whole number. r = fill in the blank 1 Suppose that an analysis of Floyd's muffler demand shows that the lead-time demand follows a normal probability distribution with µ = 12 and σ = 2.2. If Floyd's management can tolerate one stock-out per year, what is the revised reorder point? If required, round your answer up to the nearest whole number. r = fill in the blank…arrow_forward
- Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18-35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Holly falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 89 people in my market category who had been interviewed, 20 said they would buy the product, and of the 103 people in Holly's market category, 28 said they would buy it. Assuming that these…arrow_forwardRebecca Chory, Ph.D., now an associate professor of communication at West Virginia University, began studying the effect of such portrayals on patients' attitudes toward physicians. Using a survey of 300 undergraduate students, she compared perceptions of physicians in 1992—the end of the era when physicians were shown as all-knowing, wise father figures—with those in 1999, when shows such as ER and Chicago Hope (1994–2000) were continuing the transformation to showing the private side and lives of physicians, including vivid demonstrations of their weaknesses and insecurities. Dr. Chory found that, regardless of the respondents' personal experience with physicians, those who watched certain kinds of television had declining perceptions of physicians' composure and regard for others. Her results indicated that the more prime time physician shows that people watched in which physicians were the main characters, the more uncaring, cold, and unfriendly the respondents thought physicians…arrow_forwardRebecca Chory, Ph.D., now an associate professor of communication at West Virginia University, began studying the effect of such portrayals on patients' attitudes toward physicians. Using a survey of 300 undergraduate students, she compared perceptions of physicians in 1992—the end of the era when physicians were shown as all-knowing, wise father figures—with those in 1999, when shows such as ER and Chicago Hope (1994–2000) were continuing the transformation to showing the private side and lives of physicians, including vivid demonstrations of their weaknesses and insecurities. Dr. Chory found that, regardless of the respondents' personal experience with physicians, those who watched certain kinds of television had declining perceptions of physicians' composure and regard for others. Her results indicated that the more prime time physician shows that people watched in which physicians were the main characters, the more uncaring, cold, and unfriendly the respondents thought physicians…arrow_forward
- Illustrate graphically and explain how each of the following factors would affect the demand or supply for Nike factory workers: · Assuming that the market for Nike factory workers is perfectly competitive, what would be the impact on wages and the number of Nike factory workers employed?" 1. The demand for new sports shoes has increased as more people are concerned about their health. 2. Increased training makes workers more skilled and productive. 3. The COVID-19 pandemic is likely to interrupt the production process of Nike. 4. A larger number of professional workers are interested in working in factories.arrow_forwardA mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized warehouse for the distribution of products ordered. Management is currently examining the process of distribution from the warehouse and has the business objective of determining the factors that affect warehouse distribution costs. Currently, a handling fee is added to the order, regardless of the amount of the order. Data that indicate the warehouse distribution costs and the number of orders received have been collected over the past 24 months and can be seen below: Months Distribution Cost ($thousands) Number of Orders 1 52.95 4015 2 71.66 3806 3 85.58 5309 4 63.69 4262 5 72.81 4296 6 68.44 4097 7 52.46 3213 8 70.77 4809 9 82.03 5237 10 74.39 4732 11 70.84 4413 12 54.08 2921 13 62.98 3977 14 72.30 4428 15 58.99 3964 16 79.38 4582…arrow_forwardIn a classic study, Shrauger (1972) examined the effect of an audience on performance for two groups of participants: high self-esteem and low self-esteem individuals. The participants in the study were given a problem-solving task with half of the individuals in each group working alone and a half working with an audience. Performance on the problem-solving task was measured for each individual. The results showed that the presence of an audience had little effect on high self-esteem participants but significantly lowered the performance for the low self-esteem participants. a. How many factors does this study have? What are they? b. Describe this study using the notation system that indicates factors and numbers of levels of each factor.arrow_forward
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt