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Chapter 1: Q2. (page 49)
Explain the difference between descriptive and inferential statistics.
Descriptive statistics deals with different measures of the central tendency of sample data whereas inferential statistics deals with the usage of statistical tools to draw statistical conclusions.
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Customer orders at a department store. A department store receives customer orders through its call center and website. These orders, as well as any special orders received in the stores are forwarded to a distribution center where workers pull the items on the orders from inventory, pack them, and prepare the necessary paperwork for the shipping company that will pick up the packages and deliver them to the customers. In order to monitor the subprocess of pulling the items from inventory, one order is checked every 15 minutes to determine whether the worker has pulled the correct item.
a. Identify the process of interest.
b. Identify the variable of interest. Is it quantitative or qualitative?
c. Describe the sample.
d. Describe the inference of interest.
e. How likely is the sample to be representative?
Give an example of unethical statistical practice.
Question: Performance-based logistics. In industry, performance-based logistics (PBL) strategies are increasingly popular ways to reduce cost, increase revenue, and attain customer satisfaction. The Journal of Business Logistics (Vol. 36, 2015) used the opinions of a sample of 17 upper-level employees of the U.S. Department of Defense and its suppliers to determine the factors that lead to successful PBL projects. The current position (e.g., vice president, manager [mgr.]), type of organization (commercial or government), and years of experience were measured for each employee interviewed. These data are listed below. Identify each variable measured as producing quantitative or qualitative data.
Interviews | Position | Organization | Experience (years) |
1 | Vice president | Commercial | 30 |
2 | Post production | Government | 15 |
3 | Analyst | Commercial | 10 |
4 | Senior mgr. | Government | 30 |
5 | Support chief | Commercial | 30 |
6 | Specialist | Government | 25 |
7 | Senior analyst | Government | 9 |
8 | Division chief | Government | 6 |
9 | Item mgr. | Government | 3 |
10 | Senior mgr. | Government | 20 |
11 | MRO mgr. | Government | 25 |
12 | Logistics mgr. | Government | 30 |
13 | MRO mgr. | Commercial | 10 |
14 | MRO mgr. | Commercial | 5 |
15 | MRO mgr. | Commercial | 10 |
16 | Specialist | Government | 20 |
17 | Chief | Government | 25 |
Bank corporate mergers. Corporate merger is a means through which one firm (the bidder) acquires control of the assets of another firm (the target). Recently, there was a frenzy of bank mergers in the United States, as the banking industry consolidated into more efficient and more competitive units.
a. Construct a brief questionnaire (two or three questions) that could be used to query a sample of bank presidents concerning their opinions of why the industry is consolidating and whether it will consolidate further.
b. Describe the population about which inferences could be made from the results of the survey.
c. Discuss the pros and cons of sending the questionnaire to all bank presidents versus a sample of 200.
List and define the five elements of an inferential statistical analysis.
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