As a member of the international strategic management team in your company, you are assigned the task of exploring potential foreign market entry. As per of your initial investigation, you want to know if there is a difference between developed markets and emerging markets with respect to the time required to start a business. You select 15 developed countries and 15 emerging countries. The time required to start a business, defined as the number of days needed to complete the procedures to legally operate a business in these countries, is stored in ForeignMarket.
a. Assuming that the population variances for developed countries and emerging countries are equal, is there evidence of a difference in the
b. Determine the p-value in (a) and interpret its meaning?
c. In addition to equal variances, what other assumption is necessary in (a)?
d. Construct a
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Chapter 10 Solutions
EP BASIC BUS.STATS-ACCESS (18 WEEKS)
- The vintage Restaurant is located on Captiva Island, a resort community located near Fort Meyers, Florida. The restaurant, which is owned and operated by Karen Payne, has just completed its third year of operation. During this time, Karen sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. The efforts made by Karen and her staff have proved successful, and her restaurant has become one of the best and fastest-growing restaurants on the island. Karen has just concluded that to plan better for the growth of the restaurant in the future, it is necessary to develop a system that will enable her to forecast food and beverage sales by the month for up to 1 year in advance. Karen has the following data available on the total food and beverage sales that were realized during the previous 3 years of operation. Food and Beverage Sales for the Vintage Restaurant ($1000s) Month First Year Second Year Third YearJanuary 242…arrow_forwardA production process produces and packages soap in boxes weighing 140 grams. Owing to inspection carried out by several large municipalities, the penalty for placing, on the average, less than 140 grams in a box can be severe. Likewise it would also be wasteful for the company if they place, on the average, more than 140 grams in a box. Hence, the machine was adjusted to put 140 grams of soap in a box. After a year, the company wants to check if there is a need to readjust the machine. The company wishes to perform a test of hypothesis at 0.01 level of significance using the following data collected from a random sample: (photo attached). • State Ho and Ha.• Write the formula of the test statistic to be used.• State the decision rule at 0.01 level of significance.• Compute for the value of the test statistic.• Is there sufficient evidence at 0.01 level of significance for the company to conclude that mean weight of soap packaged in a box is not anymore 140 grams so that there is a need…arrow_forwardGroupon, an online Web site, offers its subscribers at least one special deal per day to local businesses in their cities such as places to eat, health-related activities (spas or fitness centers), places to see (museums), a variety of activities such as golfing or sky diving, or other specials (such as a Gap Groupon or a gourmet fruit basket). Since December 2008, the number of subscribers has increased from 400 to more than 50 million in more than 400 markets, in over 40 countries (Groupon Hits 50m Subscribers, 2011). To date, Groupon claims that more than 30 million Groupons have been sold, saving subscribers nearly $1.3 billion. From a survey of students at one university, it was found that during the past week, the following number and category of Groupons were purchased: 230 (activities); 80 (food); 90 (health-related items), and 50 (other).a. Graph these purchases with a pie chart.b. Graph these purchases with a bar chart.arrow_forward
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- Mid-West Publishing Company publishes college textbooks. The company operates an 800 telephone number whereby potential adopters can ask questions about forthcoming texts, request examination copies of texts, and place orders. Currently, two extension lines are used, with two representatives handling the telephone inquiries. Calls occurring when both extension lines are being used receive a busy signal; no waiting is allowed. Each representative can accommodate an average of 11 calls per hour. The arrival rate is 22 calls per hour. How many extension lines should be used if the company wants to handle 90% of the calls immediately?4 What is the average number of extension lines that will be busy if your recommendation in part (a) is used? Round your answer to four decimal places.L = fill in the blank What percentage of calls receive a busy signal for the current telephone system with two extension lines? Round your answer to two decimal places.40.0arrow_forwardMid-West Publishing Company publishes college textbooks. The company operates an 800 telephone number whereby potential adopters can ask questions about forthcoming texts, request examination copies of texts, and place orders. Currently, two extension lines are used, with two representatives handling the telephone inquiries. Calls occurring when both extension lines are being used receive a busy signal; no waiting is allowed. Each representative can accommodate an average of 11 calls per hour. The arrival rate is 22 calls per hour. How many extension lines should be used if the company wants to handle 90% of the calls immediately?4 lines What is the average number of extension lines that will be busy if your recommendation in part (a) is used? Round your answer to four decimal places.L = ?????????? What percentage of calls receive a busy signal for the current telephone system with two extension lines? Round your answer to two decimal places.40 %arrow_forwardPlease I need help with everything 1. As part of a quality improvement initiative, Consolidated Electronics employees complete a three-day training program on teaming and a two-day training program on problem solving. The manager of quality improvement has requested that at least 8 training programs on teaming and at least 10 training programs on problem solving be offered during the next six months. In addition, senior-level management has specified that at least 25 training programs must be offered during this period. Consolidated Electronics uses a consultant to teach the training programs. During the next quarter, the consultant has 84 days of training time available. Each training program on teaming costs $10,000 and each training program on problem solving costs $8000. a. Formulate a linear programming model that can be used to determine the number of training programs on teaming and the number of training programs on problem solving that should be offered in order to minimize…arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill