MATH 533 Week 1 Homework Problems

$20.00

Contributor

Mike Mentzer

Category

Mathematices

Course

MATH 533 Applied Managerial Statistics

Institute

DeVry

Pages

6

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MATH533 WEEK 1 HOMEWORK Suppose you are an operations manager for a plant that manufactures batteries. Give an example of how you could use descriptive statistics to make better managerial decisions. Give an example of how you could use inferential statistics to make better managerial decisions. Say whether this or that example describes the use of descriptive or inferential statistics. 1 Take a sample of batteries and test them to determine the average shelf life - use the sample average . to reach conclusions about all batteries of this type. Management can then make labeling and advertising claims. They can compare these figures to the shelf-life of competing batteries. – ANS INFERENTIAL 2 Total number of worker hours per plant per week - help management understand labor costs, work . allocation, productivity, etc. – ANS DESCRIPTIVE 3 Interview a random sample of production workers to determine attitude towards company . management - management can use this survey result to ascertain employee morale and to direct efforts towards creating a more positive worki

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