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MSMG-5100 Assignment 2 2024

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68 views2 pages

MSMG-5100 Assignment 2 2024

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yasir.queries
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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TRENT UNIVERSITY

SCHOOL OF GRADUATE STUDIES


MSMG-5100: APPLICATIONS OF STATISTICS
ASSIGNMENT 2
DUE: MARCH 29, 2024

Answer all questions. Each is equally weighted.

Question 1:
As Manager of Client Satisfaction for a telecommunication firm that provides cell services to
over one million customers, you are interested in knowing what fraction of those customers are
either “satisfied” or “very satisfied” with the service. A random sample of 500 customers is
taken, and 412 of those surveyed report being either “satisfied” or “very satisfied”.
(a) Describe the population parameter of interest.
(b) What is the value of the point estimate of the population parameter?
(c) Construct a 95% confidence interval for the proportion of all of your customers who are
either satisfied or very satisfied with your service. Interpret the result.
(d) Explain why your construction of the interval in part (c) involves the use of a Z value.
(e) Construct a 99% confidence interval for the population proportion. Interpret the result.
(f) Now suppose you want your 99% confidence confidence interval to be no more than 3
percentage points wide. How large should your sample be?

Question 2:
You manage a firm that manufactures and supplies turbine blades for a jet engine manufacturer.
The precision and quality of your manufacturing process is of crucial importance to the engine
manufacturer. To maintain the necessary levels of precision and quality, your firm must
regularly inspect and, when necessary, replace a particular tool used in your manufacturing
process. Your experience has revealed that the tools currently used have a mean useable lifetime
of 900 hours.

An alternate tool supplier has provided you with 6 of their tools to try. Upon their use, you have
found useable lifetimes of 895, 930, 920, 905, 925, and 890 hours. Going forward, would you
recommend buying tools from this alternate tool supplier? Explain your answer fully.
Question 3:
You are the Production Manager of a firm that operates 3 new assembly locations: Plant 1, Plant
2, and Plant 3. Output for the first 6 weeks of each Plant’s operation is as follows:

Week Plant 1 Plant 2 Plant 3

1 240 260 280

2 265 270 280

3 270 275 300

4 235 290 250

5 250 280 280

6 280 290 300

At the 5% level of significance (i.e., 95% level of confidence), test the hypothesis that the mean
outputs of each of the 3 Plants are equal:
(a) Fully explain your methodology.
(b) Interpret your results: (i) using a critical value, and (ii) using the p-value.

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