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Suppose you applied to be a waiter or waitress at a local restaurant and asked the manager what a typical dinner shift was like. How might the manager describe the typical size of a party at a table? The mode would be useful, since there are a few repeated values. You might have an occasional table for 20, but, for the most part, parties consist of one to five people. What if you asked for the typical size of a check, so you could estimate your tips? The mode makes no sense, since you would not likely have many repeats, and the mean is easily distorted by that table for 20, but the median tells you that half the time you can expect to earn a certain amount of money in tips.
Now suppose you were a real estate agent and you were asked by a client about the "typical" home in a subdivision. Being the astute agent you are, you have gathered the following information on each house in the subdivision: Price, square footage, numbers of bedrooms, number of bathrooms, and age. What statistic (mean, median, or mode) would you use to describe each aspect of the typical home and why? Try to imagine the type of answers you would be giving your client based on your selections for a subdivision that has 100 homes with a wide variety of sizes and prices.
Subject: Stats Applied to Mgr Problems
lucille jenkins the ceo for the durham international manufacturing company dimco believes that the company can
What processes at manufacturing firms are really service processes that involve considerable customer contact? Can customer contact be high, even if the process only has internal customers?
The task of crafting a company’s strategy is typically a job for the company’s whole management team, not just a small group of senior executives.
Hazel would like to increase her profits, but she doesn believe that it would be wise to raise her prices considering the current state of the local economy. Instead she has given some thought to increasing productivity. Explain how increased prod..
Outsourcing of jobs has become increasingly popular and controversial. What are the arguments in favor of outsourcing U.S. jobs overseas to countries such as India and China? Please explain fully and provide examples. What are the arguments against o..
What role can computerized management systems play in the maintenance and reliability functions? Does Frito Lay manufacturing plant offer any insights that can be duplicated at an automotive plant or at a microprocessor manufacturing unit such as at ..
Discrimination has persisted in countries all over the world, despite legislation prohibiting it. Briefly describe changes other than legislation that are necessary at the societal level in order to foster a culture of diversity.
Models of the AS IS Process and the TO BE Process. In the textbook, on pages 63-67, several different methods of modeling business processes are illustrated.
You have just opened a restaurant with your best friend who is a food master. Obviously your job is to manage the business. He wants to advertise on television but you disagree. Why? Instead, you offer two other media suggestions for advertising. Wha..
Your heart has different pulse rates depending on what daily type activities you are involved in. Is that an example of random or assignable variation?
Sawhill Athletic Club (B) Sawhill Athletic Club, an athletic facility in Scottsdale, Arizona, was known for providing a high level of customer service to its members. Member complaints were taken seriously and immediately addressed. Lauren Nicole, th..
The Waco Company in Texas has two furnaces (A and B) used for producing 3 types of fertilizers: Hectic, Moderate and Loud. Currently, the Company has agreed to supply 24 units of Hectic, 16 units of Moderate and 48 units of Loud to its Militia friend..
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