Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Compare and contrast the benefits and drawbacks of employing sampling to limit the amount of data items that must be shown. Is simple random sampling (without replacement) a viable sampling strategy? Why do you think that is?
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- Below n is the sample size, p is the population and p is the sample proportion.use the central limit theorem and th to-84 probability n=148 P=0.14arrow_forwardYour firm is conducting a study among employees about their attitudes toward union membership. Management needs a sampling design that is likely to reflect the true feelings of all employees but is efficient to draw. You must design a ____. Multiple Choice probability simple random sample nonprobability convenience sample nonprobability judgement sample probability cluster sample probability systematic samplearrow_forwardthe difference between the sample result and the result of an accurate census is called...... options are random sampling error systematic sampling error primary sampling error secondary sampling errorarrow_forward
- A publisher reports that 67% of their readers own a personal computer. A marketing executive wants to test the claim that the percentage is actually over the reported percentage. A random sample of 160 found that 71% of the readers owned a personal computer. Is there sufficient evidence at the 0.01 level to support the executive's claim? Step 1 of 6: State the null and alternative hypotheses. Step 2 of 6: Find the value of the test statistic. Round your answer to two decimal places. Step 3 of 6: Specify if the test is one-tailed or two-tailed. Step 4 of 6: Determine the decision rule for rejecting the null hypothesis, H0H0. Step 5 of 6: Make the decision to reject or fail to reject the null hypothesis. Step 6 of 6: State the conclusion of the hypothesis test.arrow_forwardSample variance: sample standard deviation:arrow_forwardExplain how the choice of a survey mode affects the choice of a sampling frame?arrow_forward
- What is the meaning of x ~ N (50, 20)? 1. Sampling distribution of x is distributed with a mean of 20 and a standard deviation of 50 2. x-bar is normally distributed with a mean of 20 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 20 4. Sampling distribution of x is distributed with a mean of 50 and a standard deviation of 20arrow_forwardI used excel and got a 1.31 on this question, but my friend got another answer.arrow_forwardelect the scenario below that demonstrates sampling bias. Select the correct answer below: A study is conducted about which type of a credit card customers prefer. The employees of American Express Co. were used as the sample. A hospital conducts a study about the quality of a new MRI machine. All patients who use the machine were used as the sample. A study is conducted to determine people's preference for specific streaming services. Ten people were randomly selected and asked about their preferences for streaming services. A restaurant manager wants to determine the quality of its servers' performance so she asks each of the restaurant's patrons to give a rating of their experience with their server.arrow_forward
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