Grand bus352 week 2 chapter 2 and 3 homework

| March 29, 2017

Question
Chapter 2

2.9 A survey was completed by senior-level marketers on marketer expectations and perspectives going into the next year for such things as marketing spending levels, media usage, and new business activities. Marketers were asked about how they are most often finding out about new marketing agencies for hire and the value they are placing on marketing agencies that specialize in their industry. The results are presented in the tables below:

Most Often Ways to Find out

About New Marketing AgenciesPercentage (%)

Calls/emails from agencies 32%

Social outreach 6%

Searching on Google, Bing 7%

Referrals from friends, colleagues 48%

Agency search consultants 7%

Source: Data extracted from “2014 RSW/US New Year Outlook

Report,” .ly/1fVZTj5″>bit.ly/1fVZTj5.

a.Construct a bar chart, a pie chart, and a Pareto chart.

b.Which graphical method do you think is best for portraying these data?

Importance of Marketing Agency

Specializing in Marketer’s Industry Percentage (%)

Very important 43%

Somewhat important 45%

Not at all important 12%

Source: Data extracted from “2014 RSW/US New Year Outlook

Report,” .ly/1fVZTj5″>bit.ly/1fVZTj5.

c.Construct a bar chart, a pie chart, and a Pareto chart.

d.Which graphical method do you think is best for portraying these data?

e.Based on both summaries above, what conclusions can you reach concerning marketers’ perspective on new marketing agencies?

2.13 In November 2013, the National Small Business Association (NSBA) surveyed small business owners with fewer than 500 employees. The purpose of the study was to gain insight into how America’s small businesses are dealing with rising health care costs, what kind of benefits they offer, and how the Affordable Care Act (ACA) is impacting their business. Small business owners were asked if they offered a health benefits plan to their employees that included fitness programs and/or gym memberships, and if so, what portion (%) of the employee’s cost for the plan the business paid. The following frequency distribution was formed to summarize the portion of plan cost paidfor 70 small businesses who offer this health-related benefit to employees:

Portion of Plan Cost Paid (%) Frequency

less than 1% 17

1% to 20% 7

21% to 50% 7

51% to 75% 4

76% to 100% 35

Source: Data extracted from “NSBA 2014 Small Business Health Care Survey,” .ly/NaQwzb”>bit.ly/NaQwzb.

a.What percentage of small businesses pays less than 21% of the employee monthly health-care premium?

b.What percentage of small businesses pays between 21% and 75% of the employee monthly health-care premium?

c.What percentage of small businesses pays more than 75% of the employee monthly health-care premium?

2.20 A manufacturing company produces steel housings for electrical equipment. The main component part of the housingis a steel trough that is made out of a 14-gauge steel coil. It is produced using a 250-ton progressive punch press with a wipe down operation that puts two 90-degree forms in the flat steel to make the trough. The distance from one side of the form to the other is critical because of weatherproofing in outdoor applications. The company requires that the width of the trough be between 8.31 inches and 8.61 inches. The widths of the troughs, in inches, collected from a sample of 49 troughs and stored inTROUGH are:

8.312, 8.343, 8.317, 8.383, 8.348, 8.410, 8.351, 8.373, 8.481, 8.422, 8.476, 8.382, 8.484, 8.403, 8.414, 8.419, 8.385, 8.465, 8.498, 8.447, 8.436, 8.413, 8.489, 8.414, 8.481, 8.415, 8.479, 8.429, 8.458, 8.462, 8.460, 8.444, 8.429, 8.460, 8.412, 8.420, 8.410, 8.405, 8.323, 8.420, 8.396, 8.447, 8.405, 8.439, 8.411, 8.427, 8.420, 8.498, 8.409

a.Construct a frequency distribution and a percentage distribution.

b.Construct a cumulative percentage distribution.

c.What can you conclude about the number of troughs that will meet the company’s requirements of troughs being between 8.31 and 8.61 inches wide?

2.24An online survey of CFA Institute members was conducted to gather feedback on market sentiment, performance, and market integrity issues in October 2013. Members were asked to indicate the most needed action to improve investor trust and market integrity. The survey results were as follows:

Most Needed Action Percentage (%)

Improved regulation and oversight of

global systemic risk29%

Improved transparency of financial

reporting and other corporate disclosures 21%

Improved corporate governance practices 17%

Improved enforcement of existing laws

and regulations 16%

Improved market trading rules on transparency

and frequency of trades 11%

Improved auditing practices and standards 6%

Source: Data extracted from .is/PxR8Bh.html”>cfa.is/PxR8Bh.html.

a.Construct a bar chart, a pie chart, and a Pareto chart.

b.Which graphical method do you think is best for portraying these data?

c.What conclusions can you reach concerning the most needed action to improve investor trust and market integrity?

2.39 As player salaries have increased, the cost of attending baseball games has increased dramatically. The following histogram and cumulative percentage polygon visualizes the total cost (in $) for four tickets, two beers, four soft drinks, four hot dogs, two game programs, two baseball caps, and parking for one vehicle at each of the 30 Major League Baseball parks during the 2012 season that is stored inBBCost2012 .

What conclusions can you reach concerning the cost of attending a baseball game at different ballparks?

2.45 The manufacturing company in Problem 2.44 also produces electric insulators. If the insulators break when in use, a short circuit is likely to occur. To test the strength of the insulators, destructive testing in high-powered labs is carried out to determine how much forceis required to break the insulators. Force is measured by observing how many pounds must be applied to the insulator before it breaks. The force measurements, collected from a sample of 30 insulators, are stored inForce.

a.Construct a percentage histogram and a percentage polygon.

b.Construct a cumulative percentage polygon.

c.What can you conclude about the strengths of the insulators if the company requires a force measurement of at least 1,500 pounds before the insulator breaks?

2.51 Data were collected on the typical cost of dining at American-cuisine restaurants within a 1-mile walking distance of a hotel located in a large city. Thefile Bundle contains the typical cost (a per transaction cost in $) as well as a Bundle score, a measure of overall popularity and customer loyalty, for each of 40 selected restaurants. (Data extracted from .bundle.com/”>www.bundle.comvia the link .com/MnlBxo”>on-msn.com/MnlBxo.)

a.Construct a scatter plot with Bundle score on the Xaxis and typical cost on the Yaxis.

b.What conclusions can you reach about the relationship betweenBundle score and typical cost?

Chapter 3

3.3 A bank branch located in a commercial district of a city has the business objective of developing an improved process for serving customers during the noon-to-1:00 p.m. lunch period. The waiting time, in minutes, is defined as the time the customer enters the line to when he or she reaches the teller window. Data are collected from a sample of 15 customers during this hour. Thefile Bank1 contains the results, which are listed below:

4.21, 5.55, 3.02, 5.13, 4.77, 2.34, 3.54, 3.20, 4.50, 6.10, 0.38, 5.12, 6.46, 6.19, 3.79

Another bank branch, located in a residential area, is also concerned with the noon-to-1:00 p.m. lunch hour. The waiting times,in minutes, collected from a sample of 15 customers during this hour, are contained in thefile Bank2 and listed here:

9.66, 5.90, 8.02, 5.79, 8.73, 3.82, 8.01, 8.35, 10.49, 6.68, 5.64, 4.08, 6.17, 9.91, 5.47

a.List the five-number summaries of the waiting times at the two bank branches.

b.Construct boxplots and describe the shapes of the distributions for the two bank branches.

c.What similarities and differences are there in the distributions of the waiting times at the two bank branches?

3.42 College football is big business, with coaches’ total pay and revenues, in millions of dollars. The fileCollege Football contains the coaches’ pay and revenues for college football at 105 of the 124 schools that are part of the Division I Football Bowl Subdivision.

Source: Data extracted from “College Football Coaches Continue to See Salary Explosion,” USA Today, November 20, 2012.

a.Compute the covariance.

b.Compute the coefficient of correlation.

c.Based on (a) and (b), what conclusions can you reach about the relationship between coaches’ total pay and revenues?

3.25 Thefile AccountingPartnerscontains the number of partners in a cohort of rising accounting firms that have been tagged as “firms to watch.” The firms have the following numbers of partners:

17, 23, 19, 23, 18, 17, 23, 16, 34, 10, 14, 30, 14, 33, 26, 17, 19, 22, 20, 27, 33, 25, 12, 26, 13, 30, 13, 13, 33, 21, 17, 12, 10, 14, 12

a.Compute the first quartile 1Q12, the third quartile 1Q32, and the interquartile range.

b.List the five-number summary.

c.Construct a boxplot and describe its shape.

3.13 Is there a difference in the variation of the yields of different types of investments? The fileCD Ratecontains the yields for one-year certificates of deposit (CDs) and five-year CDs for 22 banks in the United States, as of March 12, 2014.

Source: Data extracted from .bankrate.com/”>www.Bankrate.com, March 12, 2014.

a.For one-year and five-year CDs, separately compute the variance, standard deviation, range, and coefficient of variation.

b.Based on the results of (a), do one-year CDs or five-year CDs have more variation in the yields offered? Explain.

3.8 Thefile MobileLoyaltycontains spending on products ($) during a three-month period by a sample of 15 customers receiving incentives through a mobile loyalty program.

55.35, 22.90, 67.50, 46.10, 57.45, 108.25, 50.75, 35.20, 78.30, 50.65, 63.00, 59.70, 41.55, 56.65, 52.60

a.Compute the mean and median.

b.Compute the variance, standard deviation, range, and coefficient of variation.

c.Are the data skewed? If so, how?

d.Based on the results of (a) through (c), what conclusions can you reach concerning spending on products by customers receiving incentives through a mobile loyalty program?

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