Path for Home » Quantitative analysis-decision making 3 | Operations Management homework help

Quantitative analysis-decision making 3 | Operations Management homework help


 

Select any one of the following starter bullet point sections. Review the important themes within the sub questions of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide  a succinct synthesis of the key themes in a way that articulates a  clear point, position, or conclusion supported by research. 

  • You are designing a direct marketing campaign for an online clothing  retailer. As part of your design, you quantify the expected response  rates by ethnic group. Your definition of the term “ethnicity” follows  that of the U.S. Census Bureau (e.g., Hispanic, Asian, African American,  etc.). You want to test your campaign using 1,000 randomly selected  households, but you want your sample to mimic the US population in terms  of the proportion of different ethnicities (e.g., if Hispanics  constitute about 12 percent of the US population, 12 percent of your  sample should be Hispanic).
    • Assess the appropriateness of using a simple random sample as the test’s sampling plan.
    • Evaluate other potential sampling plans, and describe why such other  sampling plans might be more or less appropriate than using a simple  random sample. Support your discussion with relevant examples, research,  and rationale.
  • You are a manager working for an insurance company. Your job entails  processing individual claims filed by policyholders. In general, few  claims are expensive. Each quarter, you compile a report summarizing key  claim statistics, such as the number of claims submitted, the average  cost per claim, and the total cost of submitted claims. In the last  quarter’s report, you notice a large difference between the mean and the  median claim cost, the mean cost being much higher than the median  cost.
    • Draw a conclusion as to why you might be observing this difference in the data.
    • Evaluate whether this information might be useful for determining if the claims data is normally distributed.
    • If you conclude that the data is likely normally distributed,  explain why. If not, suggest another distribution that might best  describe the data. Explain why this distribution would be a more  accurate representation of the data.
    • Given the large difference between the two measures of central  tendency, which of the two measures would you rely on in describing the  average claim cost and why? Support your discussion with relevant  examples, research, and rationale.
  • You are an inventory manager working for a large online retailer. As  with any retailer, inventory control is one of the critical success  factors for the organization. Having too little inventory risks the loss  of sales when your company is unable to fulfill an order. However, too  much inventory imposes unnecessary costs on the organization. Often, one  of the most important pieces of information that can be used to  determine how much inventory to have on hand is the rate at which demand  occurs for the product.
    • Determine what information you would need to construct a confidence interval for the demand that will occur during a month.
    • Analyze how the numbers of such a confidence interval might  influence the level of inventory that the organization chooses to carry.  Support your discussion with relevant examples, research, and  rationale.

The final paragraph (three or four  sentences) of your initial post should summarize the one or two key  points that you are making in your initial response.

Submission Details:

  • Your posting should be the equivalent of 1 to 2 single-spaced pages (500–1000 words) in length. 100% original, no plagiarism. 
Place your order
(275 words)

Approximate price: $15

Calculate the price of your order

275 words
We'll send you the first draft for approval before your deadline so that you can go through it in time.
Total price:
$15
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Open chat
1
Need help? Talk to us
Hello,
Need help?
Lann Andrews here.