Business Statistics,

 

Each response requires 125 words.

1. You have received a business research report due by a consultant for your firm, a life insurance company. The study is a survey of customer satisfaction based on a sample of 600. You are asked to comment on its quality. What will you look for?

2. • What might be some reasons why a lower percentage of young adults drink coffee than do older adults? Of those young adults who do drink coffee, consumption is higher than for other groups. Why might this be?

• Note that the figures reported here are from a Gallup poll of around 1,000 respondents based on a 95% confidence interval with a ±4 percentage error. This report includes both means and percentages. In what ways do the statistics in this report tie-in to the information presented in this chapter?

Source: Adapted from Lydia Saad, “Americans’ Coffee Consumption is Steady, Few Want to Cut Back”, WELL-BEING, July 29, 2015, www.gallup.com/…/americans-coffee-consumption-steady-few-cut-back.as

3. A group of investors wants to develop a chain of fast-food restaurants. In determining potential costs for each facility, they must consider, among other expenses, the average monthly electric bill. They decide to sample some fast-food restaurants currently operating to estimate the monthly cost of electricity. They want to be 90% confident of their results and want the error of the interval estimate to be no more than $100. They estimate that such bills range from $600 to $2,500. How large a sample should they take?

4. A candy company fills a 20-ounce package of Halloween candy with individually wrapped pieces of candy. The number of pieces of candy per package varies because the package is sold by weight. The company wants to estimate the number of pieces per package. Inspectors randomly sample 120 packages of this candy and count the number of pieces in each package. They find that the sample mean number of pieces is 18.72. Assuming a population standard deviation of .8735, what is the point estimate of the number of pieces per package? Construct a 99% confidence interval to estimate the mean number of pieces per package for the population.

5. How can you provide point and confidence interval estimates in personal and professional settings

77.

Violating a Social Norm

Before you begin this assignment, think about a way to violate one social norm. Do not do anything that is illegal, sexual, harmful to others, or disruptive. Some examples might be singing loudly in a public location (with others around), being too close to a coworker while talking to him or her, or talking to people in an elevator. Take detailed notes after you violate the norm, paying particular attention to the reactions of others.
In your paper, you will need to address the following:
 Describe the norm you violated.
 Explain how you felt.
 Discuss the reactions people had to you.
 Draw on the social psychology of other people’s reactions to you by using research from the textbook or other
resources.
Your response should be at least two pages in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. See the attached files for details and grading rubric.
Course Textbook: Aronson, E., Wilson, T. D., & Akert, R. M. (2013). Social psychology (8th ed.). Upper Saddle River, NJ: Pearson.

Unit IV Essay
Before you begin this assignment, think about a way to violate one social norm. Do not do anything that is illegal, sexual, harmful to others, or disruptive. Some examples might be singing loudly in a public location (with others around), being too close to a coworker while talking to him or her, or talking to people in an elevator. Take detailed notes after you violate the norm, paying particular attention to the reactions of others.
In your paper, you will need to address the following:
• Describe the norm you violated. • Explain how you felt • Discuss the reactions people had to you. • Draw on the social psychology of other people’s reactions to you by using research from the textbook or other resources.
Your response should be at least two pages in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

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