Dick Hoover, owner of Modern Office Equipment, is concerned about freight costs and clerical costs incurred on small orders. In an effort to reduce expenditures in this area, he has decided to introduce a discount policy rewarding orders over $40 in the hope that this will cause customers to consolidate a number of small orders into large orders. The following data show the amounts per transaction for a sample of 28 customers: 10, 15, 20, 25, 15, 17, 41, 50, 5, 9, 12, 14, 35, 18, 19, 17, 28, 29, 11, 11, 43, 54, 7, 8, 16, 13, 37, 18 a. Compute the sample mean.

Compute the sample standard deviation. Compute the sample variance. If the policy is successful, will the mean of the distribution increase, decrease, or remain unaffected? If the policy is successful, will the standard deviation of the distribution increase, decrease, or remain unaffected? Given the data above, forecast the amount of the next customer order. Check whether the standard deviation of the distribution increases, decreases or remain unaffected when changing the policy of success.

And exercises. International Edition Textbooks may bear a label. Read PDF Business Forecasting (9th Edition). Authored by Hanke, John E.; Wichern,. Useful Tools for Practical Business Forecasting 29 Introduction 29 2.1 Types and Sources of Data 30 2.1.1 Time-series,Cross-section,and Panel Data 30 2.1.2 Basic Sources of US Government Data 32 2.1.3 Major Sources of International Government Data 34 2.1.4 Principal Sources of Key Private Sector Data 35.

The standard deviation of the distribution decreases. Reason: It is given that the discount policy regarding orders over $40 is successful.

In other words, the discount policy makes the customers with small orders to make larger orders. Thus, there is a decrease in the standard deviation of the distribution. If the policy is not successful, it is not easy to conclude about how the standard deviation of the distribution is affected. How to burn .gho file to cd. Why is Chegg Study better than downloaded Business Forecasting 9th Edition PDF solution manuals? It's easier to figure out tough problems faster using Chegg Study.

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