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SM Case Study Solutions KPK

SM Case Study Solutions KPK - Instructor's Manual 94 1 Case...

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Instructor's Manual 1 Case Study Solutions CASE STUDY OBJECTIVES The case study at the end of each chapter provides the student with an actual application of the chapter material. The objective of the case study is to provide motivation and relevancy for students that have been often frustrated by not seeing a link between learning statistical methodology and statistical applications leading to the solution of business problems. These cases are generally drawn from prominent publications such as 1 The New York Times, 1 Consumer Reports, 1 The Washington Posts, Quality Progress, and 1 The Financial Times as well as academic journals. Sources are sighted after each case. The cases cover a variety of business related topics, including several related to total quality management. The cases are specifically selected to assist business students with developing creativity in problem solving and maturity in applying statistical concepts to broader management questions. The cases allow the business student to “swim” in large data sets and to synthesize the components of a statistical study. Students should be encouraged to use Excel, SPSS, or Minitab in deriving the results. The use of cases is an effective means of promoting the importance of statistics in the business world and moves the student to a higher level (above the simple number crunching side of statistics) of understanding of the chapter material. 94
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Instructor's Manual Chapter 1 1. Suppose that the manager at Direct Marketing Services wishes to construct a survey on the experiences that consumers have after the purchase of a Chevrolet suburban. List two questions, one with a qualitative response and one with a quantitative response, for each of the following areas in which a dealership may be interested: 1.) Financing of the vehicle by purchaser 2.) Information about a purchaser’s previously owned vehicles 3.) Satisfaction with the purchase experience and 4.) Satisfaction with the vehicle. Solution: Qualitative Responses: 1. Does the customer qualify for a loan? 2. How would you rank your previously owned vehicles in terms of reliability? 3. Are you at least as satisfied with your purchase experience as the last time that you purchased a vehicle? 4. What do you like the most about your new vehicle? Quantitative Responses: 1. What is the lowest interest rate that we are willing to give this customer on a new automotive loan? 2. How much did you pay for your last vehicle? 3. How long did you take to decide on purchasing your new vehicle? 4. How much do you think your new vehicle will depreciate after two years? 2. Suppose that a health-care administrator wishes to obtain information on the service provided by a children’s health center. What do you think the population of interest would be? Give an example of discrete and continuous data that could be obtained from a survey requesting information on the service provided by the health center.
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SM Case Study Solutions KPK - Instructor's Manual 94 1 Case...

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