Mr. Hooper, owner of Modern Office Equipment, is concerned about freight costs a

Question

Mr. Hooper, owner of Modern Office Equipment, is concerned about freight costs and clerical costs incurred on small orders. In an effort to reduce expenditures in this area, he has decided to introduce a discount policy rewarding orders over $40 in the hope that this will cause customers to consolidate a number of small orders into large orders. The following data show the amounts per transaction for a sample of 28 customers: 10, 15, 20, 25, 15, 17, 41, 50, 5, 9, 12, 14, 35, 18, 19, 17, 28, 29, 11, 11, 43, 54, 7, 8, 16, 13, 37, 18....... A.) compute sample standard deviation.............. B.) compute sample variance............ C.) If the policy is successful, will the standard deviation of the distribution increase, decrease, or remain unaffected?............D.) Given the data above, forecast the amount of the next customer order

Explanation / Answer

sample standard deviation= 13.3668 sample variance= (13.3668)^2= 178.761

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