Essentials Of Business Analytics
1st Edition
ISBN: 9781285187273
Author: Camm, Jeff.
Publisher: Cengage Learning,
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Textbook Question
Chapter 8, Problem 9P
The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year’s program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown:
To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized.
- a. If the promotional budget is limited to $18,200, how many commercial messages should be run on each medium to maximize total audience contact? What is the allocation of the budget among the three media, and what is the total audience reached?
- b. By how much would audience contact increase if an extra $100 were allocated to the promotional budget?
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Example 4 (Part 2) We can use Statkey to take 50 different random samples of size 20 each, find the mean of
each sample, and compute a confidence interval for each one. The graph of the sampling distribution of the means
is on the left below, and that of the 50 confidence intervals is on the right.
1. What does each dot on the left hand dotplot represent?
StatKey Sampling Distribution for a Mean
Percent with Internet Access (Countries) ▾
Show Data Table Edit Data
Choose samples of size n =
20
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Generate 1 Sample
Generate 10 Samples
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Generate 1000 Samples
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Sampling Dotplot of Mean
Left Tail Two-Tail Right Tail
60
50
40
40
30
20
20
10
samples = 50
mean = 41.626
std. error = 5.089
:
.:
:
::
0
25
30
35
40
45
50
55
60
41.626
Data Plots
Confidence Intervals
95%->
Confidence Intervals
Coverage
48/50 = 96%
20
40
60
80
2. Circle the confidence intervals that failed to capture the true mean.
3. Circle the sample means that produced those…
Example 4 (Part 1) One of the datasets in the Lock book
contains information about 215 countries of the world. One
of the variables is the percentage of people in the country
who have access to the internet. We have data for 203 of
those countries. The plot on the right shows a dotplot of
the data.
1. What are the cases?
Population
n = 203, mean = 43.024
median = 43.5, stdev = 29.259
20
2. What does each dot on the dotplot represent?
15
10
5
20
40
43.024
60
80
3. What type of data is do we collect from the cases, quantitative or categorical?
Let x be a random variable that represents the percentage of successful free throws a professional basketball player makes in a season. Let y be a random variable that represents the percentage of successful field goals a professional basketball player makes in a season. A random sample of n =6 professional basketball players gave the following information.
x
63
79
70
80
84
87
y
46
49
45
55
57
58
Find Se. Round your answer to three decimal places.
Chapter 8 Solutions
Essentials Of Business Analytics
Ch. 8 - Kelson Sporting Equipment, Inc., makes two types...Ch. 8 - The Sea Wharf Restaurant would like to determine...Ch. 8 - Blair Rosen. Inc. (BR) is a brokerage firm that...Ch. 8 - Round Tree Manor is a hotel that provides two...Ch. 8 - Industrial Designs has been awarded a contract to...Ch. 8 - Vollmer Manufacturing makes three components for...Ch. 8 - Photon Technologies, Inc., a manufacturer of...Ch. 8 - The Westchester Chamber of Commerce periodically...Ch. 8 - The management of Hartman Company is trying to...Ch. 8 - The employee credit union at State University is...
Ch. 8 - The Atlantic Seafood Company (ASC) is a buyer and...Ch. 8 - The Silver Star Bicycle Company will manufacture...Ch. 8 - The Clark County Sheriff’s Department schedules...Ch. 8 - Bay Oil produces two types of fuel (regular and...Ch. 8 - Consider the following network representation of a...Ch. 8 - Refer to the transportation problem described in...Ch. 8 - Aggie Power Generation supplies electrical power...Ch. 8 - The Calhoun Textile Mill is in the process of...Ch. 8 - Refer to the Calhoun Textile Mill production...
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