1. The manager of the Burning Desire candle store wants to understand the purchasing behaviors of her customers. Specifically, she wants to know how many customers who come to the store actually end up making a purchase. In addition, she wants to know what the average purchase price is when customers do make a purchase. She observes customers in the store for a random assortment of times over the course of 5 days, making a total of 20 hours of observation (i.e., 4 hours per day). During each of these hours of observation she counts the number of people who come into the store and notes whether or not they make a purchase. If they do make a purchase, she records the amount they spend. In all, she observes 440 people.
In this problem the population is:
a. all people who come into the Burning Desire candle store who make purchases
b. all people who came into the Burning Desire candle store during a 5-day period
c. 440 people who came into the Burning Desire candle store during a 5-day period
d. all people who come into the Burning Desire candle store
2.
A headline in Yahoo news read, “Jury urges mercy for mother who killed baby.” The baby had died from improper care. One of the issues in the case was that “the mother …had an IQ lower than 98 percent of the population, the jury had heard”. The prosecution argued the mother’s IQ was within normal range. The mean population IQ is 100 with a standard deviation (σ) of 15.
Her IQ was tested at 87. Was her IQ below 98% of the population?
a. There is not enough information to answer the question.
b. Yes, the mother’s IQ was 87; therefore, well above average
c. No, the mother’s IQ was higher than 19% of the population
d. IQ is a nominal variable; therfore, the average (mean) should not be used.
1. d. all people who come into the Burning Desire candle store
2. c. No, the mother’s IQ was higher than 19% of the population
1. The manager of the Burning Desire candle store wants to understand the purchasing behaviors of...
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a grocery store owner wants to know if a new marketing
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The office:
1. What mistakes do you think John Mitchell made with
the way he solved the problem of limited office space? Explain
by conceptualizing Overconfidence and emotions
influencing business decisions
2. What approach would you have used if you were
Mitchell? Why
and Conceptualize by utilizing the idea of "human
skills" in management
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