Data analysis and decision making

Assignment Help Business Management

Reference no: EM1342916

Data Analysis and Decision Making

A production manager is interested in determing the typical proportion of defective items in a shipment of one of the computer components that her company manufactures. The spreadsheet provided in the file P02_02.xls contains the proportion of defective components for each of 500 radomly selected shipments collected during a 1- month period. is the mean, median, or mode the most appropriate measure of central location for these data?

What I am looking for:

1. I have the definitions for mean, median, and mode. However, I am somewhat confused and I apologize. I am thinking that mode would be most appropriate based on the definition given in the text. Albright, Winston, and Zappe (2006) write, "The mode is the most frequently occuring value" (p. 84).

A. Is my reasoning right on this question?

B. Is the question asking for something mathematical that I am not seeing?

Reference no: EM1342916

Questions Cloud

Consensus decision making : Describe consensus decision-making and how to manage agreement and recognize and be able to apply approaches to conflict management.

Relevant costs for decision making : How much of the unit product cost of $71.70 is relevant in the decision of whether to make or buy the part and what is the net total dollar advantage (disadvantage) of purchasing the part rather than making it

Inference of meaning of data : who had recently returned items showed 400 thought the policy was fair, 32 thought it took too long to complete the transaction, and the remainder had no opinion.

Important information about thinking and decision making : Important information about Thinking and Decision Making - Analyze and explain the following three different types of thinking styles: Creative, Scientific, and Persuasive Thinking

Data analysis and decision making : Is my reasoning right on this question and Is the question asking for something mathematical that I am not seeing?

Role of perception in the decision making process : How can a person's perception of others impact an organizations behavior and what are the positive and negative effects of using perceptive shortcuts when judging others

Command style management practices : What is the difference between command style management practices of the past and "participatory style" management practices of the present?

Process for generating a simple random sample : Important information about Data Analysis and Decision Making - What is the process for generating a simple random sample

Element of a persons decision-making style : In what situations are group decisions better than individual decisions and when are they not?

User Account

All Pages