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# Applied Managerial Decision-Making

Customer Question
Applied Managerial Decision-Making 4-6 slides...

Applied Managerial Decision-Making
4-6 slides with notes
Due July 8, 2009
Concepts and Terminology of Statistics Applied to Business Decision Making
One of the products that Company W makes is snack foods. The Research and Development department of Company W has developed a new formula for one type of snack food that is cheaper to make than the current formula. They want to test the new formula with consumers. They want to see if consumers can tell the difference between the old and new formulas. You propose to conduct this test and analyze the results in line with WidgeCorp's approach to gathering statistical data and using it to make decisions. You first need to explain the process to senior management at Company W. You advocate using an unbiased sample of consumers in their test, so that Company W is randomly selecting people based on the following: age; whether or not they have kids; where they live; how often they buy snack foods; whether or not they already buy the current product..
Prepare a presentation that addresses the following:
1.     List at least 3 qualitative attributes of the snack food about which they might want to ask consumers. Make sure at least one of them is nominal.
2.     For each attribute that is ordinal, assign names for the endpoints of a 5 point rating scale.
3.     Explain the difference between nominal and ordinal data.
4.     Explain how nominal and ordinal data relate to a rating scale.
5.     List at least 2 quantitative attributes of snack food that the scientists might want to measure.
6.     Explain the difference between interval and ratio data.
7.     Include in your presentation the difference between a population and a sample.
8.     Note why it is important to avoid bias when conducting research (see note below).
9.     Give 2 examples of possible populations for this test.

Submitted: 8 years ago.Category: Homework
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7/4/2009
Tutor: RopTeam, Bachelors Degree replied 8 years ago
RopTeam, Bachelors Degree
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Satisfied Customers: 590
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Hi Customer. I can assist with this question.

If agreeable?
thank you,
toneemarie
Customer reply replied 8 years ago
yes thank you
Tutor: RopTeam, Bachelors Degree replied 8 years ago
Ok. I will keep you updated.
Thank you.
toneemarie
Customer reply replied 8 years ago
ok
Customer reply replied 8 years ago
How is the work coming along.
Tutor: RopTeam, Bachelors Degree replied 8 years ago

Hi Customer. Should be done by tues am or sooner.

tm

Customer reply replied 8 years ago
okay great
Customer reply replied 8 years ago
Hello just checking on the work
Tutor: RopTeam, Bachelors Degree replied 8 years ago

Hi Customer. Here is some of the info.

I will put it in a powerpoint this pm and post.toneemarie
________________
Prepare a presentation that addresses the following:
1. List at least 3 qualitative attributes of the snack food about which they might want to ask consumers. Make sure at least one of them is nominal.
Qualitative attributes are categories of data variables that are not numeric.
For our snack foods the categories are healthy choices=1 versus less healthy=0, Do they prefer brand name snacks, preference for fruit snacks

2. For each attribute that is ordinal, assign names for the endpoints of a 5 point rating scale.Cateogories for qualitative ordinal five point rating scale:
Brand name snacks 1 never 2 sometimes 3 half of the time 4 frequently 5 every time
Fruit snacks 1 never 2 sometimes 3 half of the time 4 frequently 5 every time

3. Explain the difference between nominal and ordinal data.
Nominal data is not based on numerical classification. For instance using an Adult as a category. The adult label would require defining the variables of man and woman with a numeric representation. (ie. Woman =1 and Man= 0).

rdinal data has variables that represent a ranking of numbers. For instance the ranking of never to every time as defined above could be assigned values of one to five.

4. Explain how nominal and ordinal data relate to a rating scale.

Nominal data does not relate to a rating scale in the sense of ranking the related information.

Instead the number references the presence or absence of the variable.

5. List at least 2 quantitative attributes of snack food that the scientists might want to measure.

1. Quantitative attributes of snack foods include the number of people within an age range that eat healthy snacks.

2. The overall health of people within an age range that eat less healthy snacks compared to those who do. Possible questions are they on medication? How often do they have schedule doctor appointments related to ill health?

6. Explain the difference between interval and ratio data.
Interval data refers to data that has variables ranging from negative infinity to positive infinity. The differences between each variable should have a consequential or useful meaning. An example would be dates in time or history.

Ratio data has variables for which the variance and ratio of two values are of consequence.

7. Include in your presentation the difference between a population and a sample.

Population is the range or territory that you are trying to pull data from.

Sample is a segment of the population from which you are going to extract data or survey information from.

8. Note why it is important to avoid bias when conducting research.

If your data is not a true representative of the population you are trying to study, the data can be schewed or bias. Therefore, it is best to get information from a sample that represents the entire population.

For example:
If you want to poll the popularity of the current Administration in Washington D.C.

The population have to be representative of the entire U.S.

The sample would be the same number of people selected at random from each state.

A random sample is usually best so that you do not get a bias toward a specific ethnic group, social class or regional majority such as southern citizens, west coast citizens, or eastern citizens which may tend to vote in the same parties.

Customer reply replied 8 years ago
ok thank you
Customer reply replied 8 years ago
Please put the reference on a slide to pleace
Tutor: RopTeam, Bachelors Degree replied 8 years ago
Would you like to ask this question?
RopTeam, Bachelors Degree
Category: Homework
Satisfied Customers: 590
Verified
Customer reply replied 8 years ago
It was great that you.
Customer reply replied 8 years ago
can you help out with the one that is due on the July 18
Tutor: RopTeam, Bachelors Degree replied 8 years ago

HI Customer. Sure post and I will work on it today.

toneemarie

Customer reply replied 8 years ago
This is what I have posted

Due July 18, 2009
Applied Managerial Decision-Making
One of WidgeCorp's regional sales managers contacts you with a request. In preparation for rolling out a new type of snack food, she's been trying to make sense of some demographic data available through the AMA (American Marketing Association) and is overwhelmed. She explains to you that there are two files which contain reports generated from AMA's (American Marketing Association) website. AMA's website provides free demographical services where one can choose from a variety of criteria and generate reports based on the U.S. Census decennial data obtained at the beginning of each decade. These files contain 4 reports: General Summary, Census Trend 1980 to 2000 Summary, Occupation and Employment Summary, and Income Summary. In these demographics reports the data for many of the variables is distributed into many different categories. For example, there are 7 different categories for Educational Attainment in the General Summary Report and 20 categories for Employment by Industry in the Occupation and Employment Summary Report. Help this regional sales manager see a smaller number of comprehensible categories.
2.Using all four demographic reports: (Overview, Trend, Employment, and Population Detail) for zip code 60614, choose four variables (including at least one from each report) and explain how you would collapse the categories and why.

Current Geography Selection: ZIP Codes (2004 Q3): 60614 Chicago

General Summary Report

US Census 2000 Basic Variables

2000 Educational Attainment 2000 Marital Status
College: Associates Degree1.90%Divorced7.59%
College: Bachelor's Degree44.19%Never Married54.20%
College: Some College, No Degree8.72%Separated3.80%
School: 9th to 11th grade no diploma3.19%Widowed3.46%

US Census 2000 Race and Ethnicity

Total Population: Race Hispanic Ethnicity: Race
American Indian, Eskimo, Aleut Population0.20%American Indian/Alaska Native Alone1.20%
Asian3.70%Asian Alone0.30%
Black Population4.80%Black Alone2.00%
Hispanic Ethnicity5.40%Native Hawaiian/Other Pacific Islander Alone0.10%
Native Hawaiian and Other Pacific Islander Alone0.00%Some Other Race35.00%
Not or Latino94.60%Two or More races6.40%
Other Population2.10%White Alone55.00%
Two or More Races1.60%Hispanic Ethnicity Population3,504
White Population87.60%

US Census 2000 Occupation and Employment

2000 Means of Transportation to Work 2000 Travel Time to Work in Minutes
Bicycle0.98%Median Travel Time To Work28.9
Bus or trolley bus15.50%0 to 51.30%
Carpooled7.00%5 to 93.70%
Drove alone39.50%10 to 148.00%
Ferryboat0.00%15 to 1913.10%
Motorcycle0.00%20 to 2416.00%
Other means0.80%25 to 297.60%
Streetcar or trolley car0.30%35 to 393.10%
Subway or elevated22.60%40 to 444.40%
Taxicab2.40%45 to 599.50%
Walked6.00%60 to 897.50%
Worked at home4.30%90 or more2.30%
Workers Age 16+45,551Worked at home4.30%

US Census 2000 Family Status: Family Households

Family Households10,458Male Householder3,316
Natural Born or Adopted Children in Family Hhlds7,068Male HHldr, no wife present, own children < 18130
Grandchildren in Family Hhlds213Female Householder2,789
Step Children in Family Hhlds103Female HHldr, no husband present, own children < 18574

Married Couple Family8,673
Married Couple Family w/ Children < 183,095
Married Couple Family w/ no own Children < 185,578

Optional Information:
Level/Year: 1 yr
Subject: Applied Managerial Decision-Making
RopTeam, Bachelors Degree
Category: Homework
Satisfied Customers: 590
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