Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Management Theories Expert

problem 1:

a) By using an illustration, in brief describe the circumstances under which the median would be a more appropriate measure of an average than the arithmetic mean.

b) The given frequency table exhibits the weights, in grams, of a sample of 50 computer components produced in a factory on a specific day:

1712_drawing histogram.jpg

  • Draw a histogram for this sample of component weights.
  • find out the mean and standard deviation of the sample of weights.

problem 2: The quarterly sales figures for a specific model of smart TV over the period 2010 to 2012 are given in the table shown below:

2444_quarterly sales figure.jpg

a) Draw a graph of the time series and comment on any movements that might be present in the quarterly sales.

b) Compute the underlying sales trend by using the method of moving averages.

c) Supposing that a multiplicative model is most appropriate for this case, find out the seasonal variations for each quarter’s sales.

problem 3: The personnel manager of a large company wishes to estimate the mean number of days lost via sickness per employee throughout the last year. To do this, she examined the records of a sample of 100 employees, and found that the mean of the sample turned out to be 15.3 days, with a standard deviation of 5.1 days. She as well discovered that 60 members of the sample indicated that ‘stress’ was one of the causes of their absence.

a) Find out a 95% confidence interval estimate for the overall mean number of days lost via sickness per company employee.

b) How large a sample would be needed for the personnel manager to be 95% confident that her sample mean differed from the true overall mean by at most 0.5 days?

c) Find out a 90% confidence interval estimate of the total proportion of employees who blamed stress for their sickness absence.

problem 4: A company has recorded the following data on production volume and total costs of production for one of its products over the last 8 months:

Production (000s units)    26 18 14 18 22 18 12 14
Total cost (£000s)            46 30 26 38 46 42 36 34

a) Draw a scatter diagram for the above data, and comment on its shape.

b) Compute the suitable least squares regression line so that total cost (Y) might be predicted from the level of production (X).

c) Predict the costs of production for next month when output is scheduled to be 30,000 units and in brief comment on the reliability of your prediction.

problem 5: A large builder’s merchant has analyzed the monthly amount spent by its trade customers, and it has found that it is normally distributed with a mean of £2,000 and a standard deviation of £500.

a) Estimate the percentage of customers that will have a monthly spend of:

  • over £2,250
  • less than £1,500
  • between £1,250 and £1,750

b) The store wishes to reward the highest spending 5% of its customers with free gift vouchers. At what level of spend must the store offer this incentive?

problem 6: The sales department of a national automobile distributer wishes to analyze its weekly sales figures. The given table shows the total sales of a specific model of car over a period of 50 weeks:

57 53 56 75 46
47 43 54 43 51
62 41 73 65 45
72 50 59 68 56
71 52 58 79 60
77 38 54 59 65
38 54 80 54 56
57 55 67 67 82
70 61 83 56 42
49 56 53 68 52

a) By using the class intervals 30–40, 40–50, 50–60 and so on produce a cumulative frequency distribution of the weekly sales.

b) Draw a correctly labeled ogive.

c) From the ogive, estimate the median and quartile deviation of the weekly sales.

d) Estimate the proportion of time that the weekly sales fall between 65 and 80 cars.

problem 7: The given information is extracted from a project to install a new office computer system:

390_scheduled completion table.jpg

a) Construct a network for the project.
b) Compute the scheduled completion time and recognize the critical path.
c) Compute the slack (float time) for ALL activities.

problem 8: A company manufactures two products, A and B. One unit of each product is made up of three raw materials, in the given quantities:

2490_linear programming model.jpg

During a production run, supplies of material 1 and material 2 are limited to a maximum of 2,200 and 2,500 kg correspondingly. There is no limit to the availability of material 3.

Each unit of product A makes a contribution to profit of £5.50, while each unit of product B makes a contribution of £6.50, and the company wishes to maximize total profits.

a) Formulate this information as a Linear Programming model.

b) Use a graphical or mathematical method to find out the optimal production plan.

Management Theories, Management Studies

  • Category:- Management Theories
  • Reference No.:- M94114

Have any Question? 


Related Questions in Management Theories

Assignment taskgiven the stakeholder requirement for

Assignment Task: 'Given the stakeholder requirement for balanced corporate reporting and the need toensure the completeness and integrity of social and environmental disclosures, it issuggested that corporate social resp ...

1 when human resource managers say they are acting

1. When human resource managers say they are acting 'strategically', what might they mean? Illustrate your answer with examples. 2. It has been argued that collective forms of employee participation - unlike individual f ...

High-performing teamsadopting high-performing teams to

High-Performing Teams Adopting high-performing teams to solve problems where direct supervisors and managers recognize service, and quality outcomes could promote quality initiatives. Using Google Scholar or EBSCO Librar ...

List and describe the three guidelines for sound policy as

List and describe the three guidelines for sound policy, as stated by Bergeron and Bérubé ? Describe the bull's-eye model. What does it say about policy in the InfoSec program? In what way are policies different from sta ...

Choose any existing company of your choice operating in

Choose any existing company of your choice operating in Singapore. The company can be from any industry. Imagine that you have been appointed as the Human Resource (HR) Manager of your chosen company. Your boss has asked ...

1 backgroundin the classic inventory model presented in

1 Background In the classic inventory model presented in Lecture 7, it is assumed that the quality of all products is satisfactory, so that they can be sold to the market eventually. In practice however, product quality ...

Which two career paths are the most commonly encountered as

Which two career paths are the most commonly encountered as entrees into the InfoSec discipline? Are there other paths? If so, describe them. 1. Why is it important to have a body of standard job descriptions for hiring ...

Supply chain managementassignment informationthis

Supply Chain Management Assignment information: This assignment requires you to write a 2000 word original reportaddressing the following areas: Compare and analyse the supply chain of one service and one manufactured pr ...

Todays workforce is diverse in terms of age and other

Today's workforce is diverse in terms of age and other aspects that influence performance and success. Leaders must both motivate and support employees so that they can continuously adapt to change while creating opportu ...

Management care environments and payment systems -

Management Care Environments and Payment Systems - Discussion The following Discussion will help you to prepare for part of your Unit 2 Quiz. 1. Describe the major third-party payers and the characteristics of managed ca ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen