185323959-Business-Stats-Ken-Black-Case-Answers.pdf

Kraft likely used known descriptive market statistics

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Kraft likely used known descriptive market statistics in their product decision making such as total annual amount of dollars spent in the U.S. on frozen pizza; population demographics of the U.S. including age, number and size of households, average household income; and number of competitors in the frozen pizza market. 2. a. number of pizzas per week ratio level b. age of purchaser ratio level c. zip code nominal level d. dollars spent per month ratio level e. time between purchases ratio level f. rating of taste ordinal level (but some researchers treat as interval) g. ranking of four brands ordinal level h. geographic location nominal level i. quality rating ordinal level j. identification number nominal level k. gender nominal level
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Case Notes 3 Chapter 2 Soap Companies Do Battle The pie chart is useful in displaying the market shares in one device adjacent to each other. Many decision makers are used to viewing pie charts in connection which budgets and therefore might feel more at ease with a pie chart. On the other hand, as mentioned in the text, when percentages are close such as with Dial and “Others” in 1983, it can be difficult to discern the difference using the pie chart slices. In this case, the bar chart shown above is more desirable. 1. Shown below are pie charts for the 1983, the 1991, and the 1999 market shares.
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Case Notes 4 An examination of the pie charts from 1983 through 1999 reveals that the slice sizes of Unilever have grown and the sizes of the Procter & Gamble slices have shrunk. Shown below are the actual percentage figures for the three time periods so that you have the option of displaying the data in different ways: Company 1983 Share 1991 Share 1999 Share Procter & Gamble 37.1 30.5 28.4 Unilever 24.0 31.5 38.5 Dial 15.0 19.0 14.8 Colgate-Palmolive 6.5 8.0 9.3 Others 17.4 11.0 9.1 2. Shown below is a histogram of the weekly sales of bars of soaps over the year. The histogram was constructed using 10 classes. In MINITAB, the student has the option of trying several different values for the number of intervals. In Excel, students can explore various bin options. The shape of the histogram will somewhat change according to the number of class intervals. Note the shape of this histogram is mound shaped with some skewness to the right. The center of the distribution appears to be near to 20 million as would be expected since Procter & Gamble sells about 20 million bars per week. Note, however that some weeks actually average as much as 39 million bars per week and others only 12 million bars. What inventory, production, and human resource implications might this have? How does a company “cope” with such fluctuations?
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Case Notes 5 The stem and leaf plot for these data is shown below. The advantage of the stem and leaf over histograms, pie charts, bar charts, and others is that the stem and leaf retains the original data in case the researcher wants to calculate other statistics on the numbers.
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