Compute and interpret the z- score

Assignment Help Operation Management

Reference no: EM13226432

In order to control costs, a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by members of the sales force. DinnerCost $ 157 $ 132 $ 109 $ 145 $ 125 $ 139 a. Calculate /x, s^2, and s for the expense data. In addition, show that the two different formulas for calculating s2 give the same result. b. Assuming that the distribution of entertainment expenses is approximately normally distributed, calculate estimates of tolerance intervals containing 68.26 percent, 95.44 percent, and 99.73 percent of all entertainment expenses by the sales force. c. If a member of the sales force submits an entertainment expense ( dinner cost for four) of $ 190, should this expense be considered unusually high ( and possibly worthy of investigation by the company)? Explain your answer. d. Compute and interpret the z- score for each of the six entertainment expenses.

Reference no: EM13226432

Questions Cloud

Define reaction occurs and an equilibrium is established : A mixture intially contains A, B,C in the following concentrations: A= .700 B= .850 C=.400. the following reaction occurs and an equilibrium is established.

Identify and explain barriers to social perception : Briefly discuss the issues an organization would want to consider or understand if it were interested in a business venture within China and identify and explain barriers to social perception.

A salicylic acid reacts with acetic anhydride at the phenol : Salicylic acid reacts with acetic anhydride at the phenol group rather than at the carboxylic acid group. Briefly explain why the phenol site is preferred over the carboxylic acid site.

State a bottle of commercial aspirin gave a negative test : Tablets from a bottle of commercial aspirin gave a negative test with FeCl3. Several months later, tablets from the same bottle gave a positive test with FeCl3. How do you account for this result? Why?

Compute and interpret the z- score : should this expense be considered unusually high ( and possibly worthy of investigation by the company)? Explain your answer. d. Compute and interpret the z- score for each of the six entertainment expenses.

How important are the product design and the voice : How important are the product design and the voice of the customer?

How to translate the algorithm to a c program : The campus bus uses an embedded system that tracks the number of passengers getting in and those getting out of the bus. Two circuits with laser photodiodes, connected to RB0 (getting in) and RB1 (getting out), are used to track these numbers.

What strategies could be implemented to measure : Outline what you feel are the biggest time waster in your completion of your studies. How do you manage these time wasters to ensure you can effectively manage your time and meet your study requirements?

Why circuit is necessary to interface in sensor n microchip : The design of a home security system requires the use of sensors, including a sensor to measure carbon dioxide levels. Your search resulted in one sensor that provides an output range of [-2V, 1V].

User Account

All Pages