Assignment- Confidence Interval
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:
1. Construct a 95 percent confidence interval for the difference between the proportions of service contracts sold on treadmills versus exercise bikes.
2. Is there a major difference between the two pieces of equipment? Why or why not?
Discussion
Use the Internet to research articles on the hypothesis test and its application in business. Select one (1) company or organization which utilized the hypothesis test technique for its business process (e.g., whether providing flexible work hours improves employee productivity).
Give your opinion as to whether the utilization of such a technique improved business process for the selected company or organization. Justify your response.
Search the Internet for an article that supports your position and post the link in your thread for everyone to read.
Discussion
Please discuss the following prompts.
• Determine the top three (3) concepts or skills you learned in this course that you believe will be the most useful to you in your present or future professional career (law enforcement) or education. Provide at least one (1) specific example to support your response.
Suggestion(the process-improvement framework, DOE technique, and the confidence interval technique.)
• Provide a rationale as to why the three (3) aforementioned concepts or skills are important to someone in the field of business statistics.