Homework Assignment 8
Due in Week 9 and worth 30 points
Due in Week 9 and worth 30 points
Suppose the number of equipment sales and service contracts that a store sold during the last six (6) months for treadmills and exercise bikes was as follows:
Treadmill Exercise Bike
Total sold 185 123
Service contracts 67 55
The store can only sell a service contract on a new piece of equipment. Of the 185 treadmills sold, 67 included a service contract and 118 did not.
Complete the following questions in the space provided below:
- Construct a 95 percent confidence interval for the difference between the proportions of service contracts sold on treadmills versus exercise bikes.
- Is there a major difference between the two pieces of equipment? Why or why not?
Discussion Week 9
Online students, please select one of the two subjects to discuss.
- Use the Internet research articles on confidence interval and its application in business. Select one (1) company or organization which utilized confidence interval technique to measure its performance parameters (e.g., mean, variance, mean differences between two processes, etc.). Give your opinion as to whether or not the utilization of such a technique improves business process for the company or organization that you selected. Justify your response.
- Select one (1) project from your working or educational environment in which you would use the confidence interval technique for the process. Next, speculate on one to two (1-2) challenges of utilizing such a technique in the process and suggest your strategy to mitigate the challenges in question.
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