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How does America compare to Europe in the consumption of beverages? In many categories, including coffee, milk, juice, bottled water, and liquor, consumption is similar. However, according to statistics from the Wine Institute, Americans drink nearly five times as much soda as do Europeans and almost twice as much beer. On the other hand, Europeans drink more than twice as much tea (hot or iced), more than three times as much wine, and over four times as much tap water as do Americans. Statistics show that the average American consumes forty-eight 12 oz. containers of carbonated soda per month compared to only ten for Europeans. On the other hand, Europeans consume an average of sixteen 4 oz. containers of wine per month compared to an average of only five for Americans. According to the study, Americans have a slight edge over Europeans in the consumption of milk, with Americans drinking an average of seventeen 12 oz. containers of milk per month compared to fifteen for Europeans. This study contained comparisons between Americans and Europeans on 11 different beverages.
Suppose the figures given in this feature are actually only sample data. Would any of the techniques presented in this chapter be appropriate for conducting hypothesis tests to determine if there is a significant difference between Americans and Europeans on the consumption of various beverages? If so, what additional information would be needed?
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
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An analysis of the holding costs, including the appropriate annual holding cost rate.
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