Statistics Homework

Mar 19th, 2014
Anonymous
Category:
Accounting
Price: $30 USD

Question description

Hello I have two homework questions that I need assistance with.  This involves analyzing variances.  Answers should be in excel showing work.

1.  Seitz’s list of several hundred business-to-business customers continues to grow.  Managers would like to know whether the average dollar amount of sales per transaction per customer has changed from last year to this year.  Suppose company accountants sampled 20 customers randomly from last year’s records and determined that the mean sales per customer was $2,300, with a standard deviation of$500.They sampled 25 customers randomly from this year’s files and determined that the mean sales per customer for this sample was $2,450, with a standard deviation of$540.Analyze these data and summarize your findings for managers.  Explain how this information can be used by decision makers.  Assume that sales per customer are normally distributed.

2.  Pipeline operators estimate that it costs between $75 and $500 in U.S. currency to replace each seal, thus making the Clarkson longer-lasting valves more attractive.  Tyco does business with pipeline companies around the world.  Suppose in an attempt to develop marketing materials, Tyco marketers are interested in determining whether there is a significant difference in the cost of replacing pipeline seals in different countries. Four countries— Canada, Colombia, Taiwan, and the United States—are chosen for the study.  Pipeline operators from equivalent operations are selected from companies in each country.  The operators keep a cost log of seal replacements. A random sample of the data follows. Use these data to help Tyco determine whether there is a difference in the cost of seal replacements in the various countries. Explain your answer and tell how Tyco might use the information in their marketing materials. 

Canada Columbia Taiwan US
215 355 170 230
205 280 190 190
245 300 235 225
270 330 195 220
290 360 205 215
260 340 180 245
225 300 190 230



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