Essentials Of Statistics For Business & Economics
Essentials Of Statistics For Business & Economics
9th Edition
ISBN: 9780357045435
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Chapter 2, Problem 4CP

Jon Weideman, first shift foreman for Cut-Rate Machining, Inc., is attempting to decide on a vendor from whom to purchase a drilling machine. He narrows his alternatives to four vendors: The Hole-Maker, Inc. (HM); Shafts & Slips, Inc. (SS); Judge’s Jigs (JJ); and Drill-for-Bits, Inc. (DB). Each of these vendors is offering machines of similar capabilities at similar prices, so the effectiveness of the machines is the only selection criteria that Mr. Weideman can use. He invites each vendor to ship one machine to his Richmond, Indiana manufacturing facility for a test. He starts all four machines at 8:00 A.M. and lets them warm up for two hours before starting to use any of the machines. After the warmup period, one of his employees will use each of the shipped machines to drill 3-centimeter-diameter holes in 25-centimeter-thick stainless-steel sheets for two hours. The widths of holes drilled with each machine are then measured and recorded. The results of Mr. Weideman’s data collection are shown in Table 2.22.

Chapter 2, Problem 4CP, Jon Weideman, first shift foreman for Cut-Rate Machining, Inc., is attempting to decide on a vendor , example  1

Chapter 2, Problem 4CP, Jon Weideman, first shift foreman for Cut-Rate Machining, Inc., is attempting to decide on a vendor , example  2

Based on these results, from which vendor would you suggest Mr. Weideman purchase his new machine?

Managerial Report

Use graphical methods of descriptive statistics to investigate the effectiveness of each vendor. Include the following in your report:

  1. 1. Scatter plots of the measured width of each hole (cm).
  2. 2. Based on the scatter plots, a discussion of the effectiveness of each vendor and under which conditions (if any) that vendor would be acceptable.
  3. 3. A discussion of possible sources of error in the approach taken to assess these vendors.
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Chapter 2 Solutions

Essentials Of Statistics For Business & Economics

Ch. 2.2 - Consider the following data. a. Develop a...Ch. 2.2 - Consider the following frequency distribution....Ch. 2.2 - Construct a histogram for the data in exercise 12....Ch. 2.2 - Consider the following data. a. Construct a dot...Ch. 2.2 - Construct a stem-and-leaf display for the...Ch. 2.2 - Construct a stem-and-leaf display for the...Ch. 2.2 - A doctor’s office staff studied the waiting times...Ch. 2.2 - NBA Total Player Ratings. CBSSports.com developed...Ch. 2.2 - Busiest North American Airports. Based on the...Ch. 2.2 - CEO Time in Meetings. The London School of...Ch. 2.2 - Largest University Endowments. University...Ch. 2.2 - Top U.S. Franchises. Entrepreneur magazine ranks...Ch. 2.2 - Engineering School Graduate Salaries. The file...Ch. 2.2 - Best Paying College Degrees. Each year America.EDU...Ch. 2.2 - Marathon Runner Ages. The Flying Pig is a marathon...Ch. 2.3 - The following data are for 30 observations...Ch. 2.3 - The following observations are for two...Ch. 2.3 - Daytona 500 Automobile Makes Average Speeds. The...Ch. 2.3 - Daytona 500 Average Speeds of Winners. The...Ch. 2.3 - Recently, management at Oak Tree Golf Course...Ch. 2.3 - Household Income Levels. The following...Ch. 2.3 - Values of World’s Most Valuable Brands. Each year...Ch. 2.3 - Revenue of World’s Most Valuable Brands. Refer to...Ch. 2.3 - Car Fuel Efficiencies. The U.S. Department of...Ch. 2.4 - The following 20 observations are for two...Ch. 2.4 - Consider the following data on two categorical...Ch. 2.4 - The following crosstabulation summarizes the data...Ch. 2.4 - Driving Speed and Fuel Efficiency. A study on...Ch. 2.4 - Low Temperatures and Snowfall. The file Snow...Ch. 2.4 - Hypertension and Heart Disease. People often wait...Ch. 2.4 - Smartphone Ownership. Consider the following...Ch. 2.4 - Store Managers Time Study. The Northwest regional...Ch. 2 - SAT Scores. The SAT is a standardized test used by...Ch. 2 - Median Household Incomes. The file MedianHousehold...Ch. 2 - State Populations. Data showing the population by...Ch. 2 - Startup Company Funds. According to the Wall...Ch. 2 - Complaints Reported to BBB. Consumer complaints...Ch. 2 - Stock Price Volatility. The term beta refers to a...Ch. 2 - Education Level and Household Income. The U.S....Ch. 2 - Western University has only one womens softball...Ch. 2 - Best Places to Work. Fortune magazine publishes an...Ch. 2 - Prob. 53SECh. 2 - Colleges’ Year Founded and Percent Graduated....Ch. 2 - Colleges’ Year Founded and Cost. Refer to the data...Ch. 2 - Colleges’ Cost and Percent Graduated. Refer to the...Ch. 2 - Electric Vehicle Sales. Electric plug-in vehicle...Ch. 2 - Zoo Member Types and Attendance. A zoo has...Ch. 2 - Pelican Stores, a division of National Clothing,...Ch. 2 - The movie industry is a competitive business. More...Ch. 2 - Cincinnati, Ohio, also known as the Queen City,...Ch. 2 - Jon Weideman, first shift foreman for Cut-Rate...
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