Provide complete solution to Case Problem 1 (Young Professional Magazine) parts 1 through 4 only. You can assume that the distribution of mileage is normal. 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 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 asked to help analyze the survey results. Some of the survey questions follow: Professional You can assume that the distribution of mileage is normal. TABLE 8.8 Partial Survey Results for Young Professional Magazine Age Gender Real Estate Value of Number of Broadband Household Children Age Gender Purchase Investments ($) Transactions Access Income ($) 38 female no 12200 4 Yes 75200 Yes 30 male no 12400 4 Yes 70300 Yes 41 female yes 26800 5 Yes 48200 Yes 28 female yes 19600 6 No 95300 No 31 female yes 15100 5 No 73300 No 1. What is your age? 48 2. Are you: Male or Female (I am a male) 3. Do you plan to make any real estate purchases in the next two years? Yes No 4. What is the approximate total value of financial investments, exclusive of your home, owned by you or members of your household 5. How many stock/bond/mutual funds transactions have you made in the past year? 6. Do you have broadband access to the Internet at home? Yes No 7. Please indicate your total household income last year. 8. Do you have children? Yes No The file Professional contains the responses to these questions. Table 8.8 shows the portion of the file pertaining to the first five survey respondents. Managerial Report Prepare a managerial report summarizing the results of the survey. In addition to statistical summaries, discuss how the magazine might use these results to attract advertisers. You might also comment on how the survey results could be used by the magazine’s editors to identify topics that would be of interest to readers. Your report should address the follow ing issues, but do not limit your analysis to just these areas. 1. Develop appropriate descriptive statistics to summarize the data. 2. Develop 95% confidence intervals for the mean age and household income of subscribers. 3. Develop 95% confidence intervals for the proportion of subscribers who have broad band access at home and the proportion of subscribers who have children. 4. Would Young Professional be a good advertising outlet for online brokers? Justify your conclusion with statistical data.
6.Provide complete solution to Case Problem 1 (Young Professional Magazine) parts 1 through 4 only. You can assume that the distribution of mileage is normal.
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 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 asked to help analyze the survey results. Some of the survey questions follow: Professional
You can assume that the distribution of mileage is normal.
TABLE 8.8 Partial Survey Results for Young Professional Magazine Age Gender
Real Estate Value of Number of Broadband Household Children
Age Gender Purchase Investments ($) Transactions Access Income ($)
38 female no 12200 4 Yes 75200 Yes
30 male no 12400 4 Yes 70300 Yes
41 female yes 26800 5 Yes 48200 Yes
28 female yes 19600 6 No 95300 No
31 female yes 15100 5 No 73300 No
1. What is your age? 48
2. Are you: Male or Female (I am a male)
3. Do you plan to make any real estate purchases in the next two years? Yes
No
4. What is the approximate total value of financial investments, exclusive of your home, owned by you or members of your household
5. How many stock/bond/mutual funds transactions have you made in the past year? 6. Do you have broadband access to the Internet at home? Yes
No
7. Please indicate your total household income last year. 8. Do you have children? Yes
No
The file Professional contains the responses to these questions. Table 8.8 shows the portion of the file pertaining to the first five survey respondents.
Managerial Report
Prepare a managerial report summarizing the results of the survey. In addition to statistical summaries, discuss how the magazine might use these results to attract advertisers. You might also comment on how the survey results could be used by the magazine’s editors to identify topics that would be of interest to readers. Your report should address the follow ing issues, but do not limit your analysis to just these areas.
1. Develop appropriate
2. Develop 95% confidence intervals for the
3. Develop 95% confidence intervals for the proportion of subscribers who have broad band access at home and the proportion of subscribers who have children.
4. Would Young Professional be a good advertising outlet for online brokers? Justify your conclusion with statistical data.
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