The histogram of a sample should have a distribution shape very similar to that of the population from which the sample was drawn
Indicate whether the statement is true or false
TRUE
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When a company dramatically changes its product's packaging, most likely, it's main objective is to:
A) reduce costs. B) differentiate its products from its competitors. C) increase the production output. D) increase shelf presence.
Provide at least two examples of a company's competitively valuable capabilities.
What will be an ideal response?
A product has a reorder point of 260 units, and is ordered ten times a year on average. The following table shows the historical distribution of demand values observed during lead time
Demand Probability 240 .1 250 .2 260 .4 270 .2 280 . 1 Currently, stockouts are valued at $5 per unit per occurrence, while inventory carrying costs are $2 per unit per year. Should the firm add safety stock? If so, how much safety stock should be added?
A new brand of chocolate bar is being market tested. Four hundred of the new chocolate bars were given to consumers to try. The consumers were asked whether they liked or disliked the chocolate bar. You are given their responses below. Response Frequency Liked 400 Disliked 100 500 ? a.What is the point estimate for the proportion of people who liked the chocolate bar?b.Construct a 95% confidence interval for the true proportion of people who liked the chocolate bar.c.With a .95 probability, how large of a sample needs to be taken to provide a margin of error of 1.5% or less??
What will be an ideal response?