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Nike Supply Chain Time-Based Competition (TBC)

Nike Supply Chain Time-Based Competition (TBC)

Introduction

Nike is multinational company that designs, develops, manufactures, and markets sports equipment, footwear, clothes, and accessories. The company was established in 1964 and has over the years grown to into a strong international brand (Success Story 2019). Nike’s success in the last couple of years has, in part, been linked to the changes it has made to its systems and its revolutionary approach to manufacturing and product distribution. Some of the changes made to the company’s manufacturing processes, systems, and supply chain management have enabled Nike achieve time-based competitiveness. Dempsey et al. (2014) define time-based competition (TBC) as the strategic advantage gained from making the order-to-delivery cycle more compact, efficient, and cost effective for both the supplier and the consumer.

Nike Supply Chain Time-Based Competition

In other words, time based competition seeks to reduce the time required to propose, design, develop, manufacture and deliver products (Blackburn 2012). As noted by Olah et al. (2018), time-based competition (TBC) essentially involves the use of time (vis-a-vis cost) as the main factor for achieving and maintaining competitive advantage – Nike Supply Chain Time-Based Competition.

Nike and Time-Based Competition

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p style=”text-align: justify;”>With respect to time-based competition, Nike has succeeded in significantly lowering the amount of time it needs to manufacture its shoe products from as much as 18 weeks to only a few days. According to Bain (2017), this it has achieved by reducing the number of steps ordinarily involved in manufacturing shoes from design to prototype development ready for production. Ordinarily, the company would have to develop or produce several patterns, moulds, samples, and prototypes before commencing actual production. However, the company has reduced these numbers by relying on technologies such as Computer Aided Design (CAD), 3-dimensional imaging, and simulation. These technologies enable the company bypass some of these time consuming stages in the process of developing products (Huang 2016; Bain 2017). In addition, the company applies several innovative technologies as part of its manufacturing processes, which enable it produce several products within a much shorter duration. Read more

Change Management at General Electric

Prompt: Present an analysis of General Electric, focusing upon the structural, cultural, leadership and change management issues associated with any significant change experienced in the recent past (or anticipated in the near future) and to present practical recommendations. The following should be covered in your assignment: (a) Background: Identification of management of change situation and the context; this will include only a very brief background to the organization, its product/service, location, employment, business strategy and goals being pursued (b) Analysis and discussion of change management, structure, culture and leadership issues. This is the most important part of the assignment. You will need here to blend in relevant concepts and frameworks from the course. However, do not ‘mechanically’ outline and apply them: try to draw upon ideas from the course as you develop and progress your analysis (c) Conclusions and any recommendations for change, improvement and/or learning that follow from your analysis and discussion. Your answer should focus upon one or more particular change initiatives. 

Change Management at General Electric

Introduction

General Electric (GE) has experienced a lot of changes in its structure and in the way it operates over the past several years. Many of the changes that the company applied in some way affected its employees, culture, and structure. This paper focuses on change management at General Electric during the tenure of Jeff Immelt as the company’s CEO and chairman. The paper first provides a brief background about GE before discussing leadership, culture, structure, and change management issues. The paper concludes by presenting recommendations for future action.

Background

General Electric is a multinational company established in 1892 with its headquarters in Boston, Massachusetts. The company involves in different industries including automotive, research, energy, transportation, engineering, aviation, healthcare, information technology, and finance (General Electric 2016).  In 2017, the company was ranked the thirteenth largest company in the U.S. based on gross revenue. Some of the products and services offered by the company include lighting, drug discovery, medical imaging devices, providing digital solutions, energy connections, liquefied natural gas, and aircraft engines (Google Finance 2017). The mission of General Electric is to build, power, move and cure the world by transforming industry with software-defined machines and solutions that are not only connected but also predictive and responsive (General Electric 2016).  

The company boasts of operating in 130 countries, has a presence in all the six continents, and has a workforce estimated at 304,000 employees (General Electric 2017). Among several other countries, the company operates in Canada, the United States, Australia, UAE, the UK, South Africa, Nigeria, China, Russia, Malaysia, Thailand and India. Ever since its establishment, GE has enjoyed significant growth to become the global force it is today, investing in and divesting different businesses in line with its strategic goals …

Rees and Hall (2013) note that change management involves defining, adopting corporate strategies, technologies, procedures and structures to deal with changes in the external business environment. Several theories on change management have been postulated by different experts. One such theory is Lewin’s Change Management Model . Continue …

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Contents:

  • Introduction
  • Changes and Change Management at General Electric
  • Conclusion

Change Management at General Electric

 

 

 

 

 

 

 

 

We throw a ball upwards. Its height h (in meters)

Applied Calculus Questions and Solutions

We throw a ball upwards. Its height h (in meters), t seconds after its launch is given by the following equation

h(t) = –t2 +50t+1

  • Find the initial height of the ball. Round your answer to 4 decimals if needed and show your calculations. Use the correct notation.
  • Find at what time the speed of the ball is zero and find the height of the ball at this moment. Round your answer to 4 decimals if needed and show your calculations. Use the correct notation.
  • Use the derivative to find the speed of the ball precisely when it will touch the ground after its launch. Round your answer to 4 decimals if needed and show your calculations. Use the correct notation.
  • Calculate the speed and the acceleration of the ball 3 seconds after its launch. Round your answer to 4 decimals if needed and show your calculations. Use the correct notation.
  • Interpret the results of c in the context of the problem. You must write an interpretation ….

We throw a ball upwards. Its height h (in meters)

Throw a ball upwards …

Solutions

a) Initial height of the ball

Initial height is when time t = 0

h(t) = –t2 +50t+1

h = -02 +50 x 0+1 = 1

h = 1 meter

b) Time at which speed of the ball is zero, and height of the ball at this moment

Speed s = …..

Solutions: t = 25 seconds, h = 626 meters

 to the above questions. 

(e): Interpretation for question c:

In this case, time cannot be negative and so the negative root of the quadratic equation does not apply. Negative speed indicates the ball is moving downwards (and not upwards as was the case when the ball started moving). The acceleration of the ball is constant from start to finish. 

Find all worked out (well explained) solutions 

Digital Marketing in Retail Industry Example – Zara

Digital Marketing in Retail Industry Example – Zara

Prompt: Choose one company from the retail industry and critically analyse how they use Digital Marketing to engage with their customers. Using appropriate theory recommend how they can improve their online engagement in the future. – Digital marketing in retail industry example – Zara Digital Marketing.

Digital Marketing Zara  Case Study/Report

Introduction

Zara is an international fashion company that produces and markets different kinds of apparel. The company, whose headquarters is in Arteixo, Spain, was established in 1975. Today, Zara is known to be one of the world’s largest fashion and apparel retailers (Roll, 2019). The company has a presence in close to 96 countries in different parts of the world and owns close to 2,238 stores in these countries (Hanbury (2018). The company retails a wide variety of products including shoes, bags, perfumes, and clothes. Most of these products are made by different suppliers and are then transferred to the headquarters of Zara for branding (Hanbury, 2018). Given that it has customers spread across the globe, the company needs to find ways of interacting with its clients to understand their needs and views regarding its products and services. In this regard, the company exploits digital marketing to communicate with current and potential customers and to maintain a strong brand name. This report discusses how Zara applies digital marketing to engage with its current and potential customers.

Digital marketing in retail industry example

 

 

 

 

 

Customer Engagement

In today’s highly competitive business environment, the importance of customer engagement cannot be overstated. Retailers must hence change their approach to marketing from linear (involving one-way communication) to one that involves two-way mutual dialogue and the sharing of benefits between the organisation and the consumer (Fuxman et al., 2014; Karimova 2011). This implies that communication and engagement between the company and the consumer should flow freely and should be more non-linear. Such communication and engagement should be one-on-one, one-to-many, or both depending on the situation. Rihan (2017) notes that in the current world, consumers are more and more getting online to research products, find deals and promotions, and compare prices before making their purchasing decisions. Given this reality, it is only wise for firms to have an online presence and to engage in online marketing which, compared to traditional marketing, is often cheaper … 

Zara engages in several digital marketing activities as part of its market communication endeavours. The company owns several websites, which play an important role in giving it the continuous web presence that it needs while giving customers and consumers the opportunity to browse the products that the company has on offer (Appendix 1). Zara has… facebook pages … Twitter accounts … with each account having a huge following. Read more

Contents for this article:

  • Introduction
  • Customer Engagement
  • Berlo’s Model of Communication
  • Digital Marketing
  • Digital Marketing at Zara
  • Recommendations
  • References
  • Appendices

     

 

Main Features of Haier’s Internationalization Strategy

What are the main features of Haier’s internationalization strategy since early 1990s and how does it differ from the pattern of international typical of Western enterprises? How successful has Haier’s internationalization strategy been and why? What are the principal features of Haier’s management system? In what ways do Haier’s principles and methods of management differ from those deployed by Western companies? What lessons might be drawn by a) other Chinese companies and b) by Western enterprises? – Haier Group Internationalization Strategy and Management System (below).

Key text: Grant, R (2016). Contemporary Strategy Analysis.

Haier Group Internationalization Strategy

Haier Group’s Internationalization Strategy and Management System

Introduction

Haier Group is a multinational company that manufactures and markets home appliances and consumer electronic products. Simply referred to as Haier, the group started off as a small bankrupt company called Qingdao General Refrigerator Factory before growing to become a global leader in the production of house hold appliances. Today, the company markets its products in well over 100 countries across the world (Haier UK 2014). While the company has its global headquarters in Qingdao China, it has a number of regional headquarters (including Paris and New York) to serve its clients in the respective regions. There is wide agreement among business experts and scholars that Zhang Rumin contributed greatly to the growth and success of Haier. As CEO of the company, Zhang saw the company transform from the bankrupt Qingdao General Refrigerator Factory to the highly successful and leading brand that it is today. Under his leadership, the company focused on producing high quality products and began applying a management system that was customer centric with product development focusing greatly on fulfilling consumers’ needs. The company also began and greatly advanced its internationalisation journey under Zhang’s leadership. Haier’s internationalisation strategy and management methods have been a subject of great praise and admiration worldwide given their contributions to the Group’s success. However, they have also been criticised by pundits who feel that the strategy was not as orderly and not as integrated as it should have been. Questions have also been raised regarding the cohesiveness of the strategy and its rationale especially considering its uneven performance in different markets. These criticisms notwithstanding, there is wide consensus that the strategy was a success and that it presents important lessons for companies that wish to internationalise. This paper discusses Haier’s internationalisation strategy and the Group’s management system as established by Zhang Rumin. More specifically, the paper answers the questions: What are the main features of Haier’s internationalization strategy since early 1990s and how does it differ from the pattern of international development typical of Western enterprises? How successful has Haier’s internationalization strategy been and why? What are the principal features of Haier’s management system? In what ways do Haier’s principles and methods of management differ from those deployed by Western companies? What lessons might be drawn by a) other Chinese companies and b) by Western enterprises?

The Main Features of Haier’s Internationalization Strategy and How the Strategy Differs From the Pattern of International Development Typical of Western Enterprises

Companies can expand beyond national markets through internationalisation. An internationalisation strategy is basically the strategy that a firm applies to sell its products in foreign markets. It involves applying one or more modes of international business (Chryssochoidis and Clegg 1997). Some of the modes of international business include exporting, licensing, franchising, partnering or strategic alliance, acquisition, establishing new, wholly owned subsidiary, and joint venture (Shaker et al. 2000; Azuayi 2016).  In different situations, Haier applied different modes of international business. To enter the U.S. market, for example, the company initially exported manufactured products to the country and relied on a strategic partner (Wellbilt Appliances) to distribute the products. To market its products in the Netherlands, Germany, and Italy, the company exported its products under the Haier brand (Grant 2016). In countries such as Malaysia, Indonesia, and Philippines, the company formed joint ventures with local companies and relied on them to produce and sell products such as refrigerators and air conditioners (Grant 2016). For Haier, the goal behind its internationalisation was to build a global brand and to become an internationally competitive brand, rather than merely to exploit China’s low manufacturing costs (Grant 2016). In addition, the company sought to create the famous brand of China in the world through its internationalisation. Furthermore, it was aimed at challenging the company to raise to word-class level its standards of marketing, customer service, manufacturing, and product development (Grant 2016). The internationalisation strategy applied by Haier had certain key features which will be discussed in the following sections. Read more

One key feature of Haier’s Internationalisation strategy was its focus on entering and tackling difficult or more sophisticated markets first before tackling easy or less developed ones. As noted by Yan and Guanli (2011), in the process of internationalisation, companies have two modes or options. Continue …

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Contents

  • Introduction
  • The Main Features of Haier’s Internationalization Strategy and How the Strategy Differs From the Pattern of International Development Typical of Western Enterprises
  • The Uppsala Model in Relation to Haier’s Internationalisation Strategy
  • The Success of Haier’s Internationalization Strategy
  • Principal Features of Haier’s Management System
  • Haier’s Principles and Methods of Management
  • Lessons that can be Learnt from Haier
  • Conclusion
  • References

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Companies Aware of the Need for Relation-oriented Skills

Companies Aware of the Need for Relation-oriented SkillsSolved: ‘Companies are becoming increasingly aware of the need for relation-oriented skills in their global endeavours. Female managers working for Western companies, for example, could generally be regarded as potentially effective managers in say, Asia because of their person-oriented leadership skills. The consideration women show others, as well as their ability to empathise, are features that are said to be held in high esteem in that part of the world. Why do you think that some multinationals nevertheless tend not to give serious consideration to female candidates for managerial positions in, for example, the Middle East?’ (Browaeys and Price 2015, p. 233). Critically discuss, referring to relevant research and supporting your answer with examples from international business.  Companies Aware of the Need for Relation-oriented Skills: Cross-cultural management. 

Why Some Multinationals Do Not to Give Serious Consideration to Female Candidates for Managerial Positions

Introduction  

Every business organisation seeks to grow or improve its performance and appreciate that without good leadership, this goal may not be achievable (Law 2015). Owing to this fact, companies are constantly looking out for people who seem to have leadership and management skills and who will hopefully propel the organisation in the right direction. High performing leaders are people who can develop and implement good strategies, ensure tasks are properly performed and done in a timely manner, and can establish and maintain relationships across the organisation. As noted by Law (2015), business leaders or managers can apply relationship-oriented leadership or task-oriented leadership to achieve desired organisational goals. In the contemporary business environment, relationship-oriented leadership is valued given its emphasis on creating relationships that last between the leader and other workers. In this regard, this kind of leadership helps avoid limitations commonly linked with authoritarian leadership such as poor employee motivation (Oni 2017). Relationship-oriented leadership has been closely linked to feminine qualities and as such is commonly preferred in positions in which a lot of cooperation, use of intuition, communication, and flexibility is demanded. There is no doubt that this kind of approach to leadership is practical and vital in business. Even so, some multinational organisations do not give serious consideration for having women, who naturally tend to apply relationship-oriented leadership, to occupy management positions in some countries. In this paper, the possible reasons for this situation is discussed based on Hofstede’s theory and more especially with a focus on the cultural dimensions of power distance, uncertainty avoidance, and masculinity versus femininity. The paper begins by discussing task-oriented and relationship-oriented leadership before discussing the main issue which is the reason for gender segregation in business management. The paper concludes with recommendations for businesses and women. Continue …

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Health Care Systems Comparison – US versus UK

This article presents a health care Systems comparison; a comparative analysis of the U.S. and UK healthcare systems. 

Comparison of US and UK Health Care Systems

UK and U.S. health care systems comparison Introduction

Roemer (1991) defines the term “healthcare system” as the combination of resources, organisation, financing and management that results in the delivery of health services to the population. People’s health are impacted by factors outside the healthcare system such as poverty education, infrastructure, the social environment, and the political environment (Annex, 2007). This notwithstanding, a successful healthcare system should provide accessible, quality, responsive, and affordable healthcare services to the population according to the World Health Organisation (WHO, 2015). Countries differ in the way their healthcare systems are organised and how they operate. In this paper, the U.K. and U.S. health care  systems will be analysed and compared. For each of these countries, the country profile will be presented and the organisation and functioning of their healthcare systems discussed. The paper will also discuss health care coverage, healthcare financing and expenditure, and access and quality of healthcare in the two countries. The paper concludes by briefly evaluating the strengths and weaknesses of the healthcare systems of each of the two countries – A Comparison of US and UK healthcare systems.

The UK Healthcare System

The United Kingdom Country Profile

The United Kingdom is made up of four constituent countries; Northern Ireland, Scotland, Wales, and England. The island country has a population of roughly 65,648,000 people with the majority (87.2%) of the population being white. The country’s minority population includes Blacks, Asians, Pakistanis, and other minority groups (CIA 2018). Its population growth rate is estimated at 0.52% while its death rate stands at 9.4 deaths per 1,000 people (CIA 2018). As noted by Parpworth (2016) the country is a constitutional monarchy governed by the rule of law and based on parliamentary democracy. In Europe, the U.K. has the third largest economy after Germany and France. Its GDP was roughly 2.88 trillion U.S. dollars (purchasing power parity) and 2.565 trillion U.S. dollars  going by official exchange rate in 2017 (CIA 2018). Read more

How Jeff Immelt Redirected the Strategy of GE

In what ways has Jeff Immelt redirected the strategy of GE?

1. In what ways has Jeff Immelt redirected the strategy of GE? 
2. To what extent is the strategy aligned with
         a. The requirements of the 21st century business environment?
         b. GE’s resources & capabilities?
3. What organisational changes has the new strategy necessitated? Will GE         be able to successfully execute the new strategy?
4. What alternative strategies should GE consider?

There two sample papers that answer the above questions: Here is the first sample paper: 

The Strategy of General Electric Under the Leadership of Jeff Immelt

IntroductionThe Strategy of GE Under Jeff Immelt

Strategy, according to Chandler (1963), relates to the determination of long term business objectives and goals and the adoption of actions and allocation of resources that are necessary if these objectives and goals have to be achieved. Johnson and Scholes (2011) define the term as the long-term direction taken by an organisation. Strategy has been linked to the pattern of decisions made by an organisation. The strategy that a firm assumes and applies is meant to help it gain competitive advantage in the market in which it operates. This paper focuses on the strategy that Jeff Immelt applied during his time as CEO of General Electric. Among other issues, the paper discusses how Jeff Immelt redirected the strategy of GE.

How Jeff Immelt Redirected the Strategy of GE

Jeff Immelt greatly changed the strategic direction of General Electric during his time at the helm of the company. Soon after assuming the role of CEO of GE, the business environment experienced shocks as a result of major events including a financial crisis, 9/11, and the collapse of energy giant, Enron. Even though the company’s performance under the leadership of Jack Welch was commendable, changes in the business environment necessitated changes in the company’s strategies if its performance as a top performer had to be maintained. In appreciation of this fact, Immelt made a number of strategic changes to the company and how it operated.  

One of the strategic changes that Immelt made to GE related to its shift in focus from the maximisation of shareholder value to growth in long-term earnings. Before Immelt, the company put a lot of focus on short term earnings and in maximising shareholder value such as through ensuring the company had high stock prices. Immelt, however, emphasized that the way to go was to manage the company properly which would ultimately drive the company’s stock prices (Grant 20151).   This move by Immelt was driven by the realisation that traditional sources of value such as the elimination of under-performing assets and cost reduction had been exhausted. Continue reading … 29-45

Alternative link … (code 29-45).

Here is the second sample paper:

General Electric Case Study

General Electric Case StudyIntroduction          

The term “strategy” comes from the Greek word “Strategos” which means “generalship” (Nickols 2016). Strategy is a common term or concept in the business field today, having been borrowed from the military. The term has been defined in different ways by scholars and experts. Johnson and Scholes (2011) define the concept as the long-term direction that a firm assumes. On the other hand, Chandler (1963) defines it as the determination of long-term objectives and goals of an organisation and relates it to the actions and allocation of resources needed for the achievement of the organisation’s goals and objectives. On his part, Steiner (2008) associates strategy with the actions that one takes to counter the predicted or actual moves of an opponent. According to Mintzber (1994), strategy is commonly applied in four different ways; as a position, as a pattern, as a plan, and finally as a perspective. Business organisations develop and apply different strategies to achieve their objectives and goals, respond to changes in the business environment, and to counter the moves taken by their competitors. This paper will focus on the strategy of General Electric (GE) under the direction of Jeff Immelt. The paper will begin by providing a background to General electric and its strategy under the leadership of Jeff Immelt before discussing the how the company’s Strategy was aligned with the 21st century business environment. The paper will then discuss GE’s strategy alignment with the company’s resources and capabilities and organisational changes in the company concluding with a brief discussion of alternative strategies that General Electric could have adopted. Continue reading: 30-64.

Alternative link … (code 30-64). 

Social Policies on Housing in France and Germany

This article presents a housing social policies comparison – social policies housing comparison focusing on France and Germany.

Social Policies on Housing in France and Germany: A Comparative Analysis

Introduction

Housing has been and continues to be vital sector of the economy of developed societies across the world (Sassen 2012). Housing contributes to the economy in three main ways; as part of the construction sector, as part of the real estate market, and through banking in the form of mortgages. Today housing is also an used as an instrument for the innovation of financial instruments and in this regard has raised the distance between itself  and the asset that underlies it to the extent that it is associated with high-risk financial innovation (Sassen, 2012).  Appreciating its importance, different countries have put in place different social policies in a bid to ensure that their nationals are properly housed and that even the poor do not remain homeless. This paper presents a comparative analysis of the housing policies implemented by French and Germany. The paper presents an overview of the housing policy in the two countries, their guiding principles, housing ownership, the cost of housing, security of tenure, housing benefits, and the financing of private and social housing. The paper also discusses issues such as subsidies and housing allowances in France, role of government and NGOs, beneficiaries of social housing, regeneration, and the Anglo Saxon Liberal Welfare Regime in Germany.

French Social Policy on Housing

Overview of Housing Policy in France

As noted by Blanc (2004), France is known to be a centralised nation with officers at the central government making most of the decisions that touch on social policy.  The government of France normal moves with speed in trying to solve problems, a situation that has led civil society in the country to have great mistrust for the government. After the Second World War ended, France realised that she was faced with housing shortage. Consequently, the government emerged as a dominant player in trying to solve the housing problem in the period preceding the 1960s. However, in the 1960s, the government opted to become more indirect while maintaining its economic intervention, a change that was  influenced by the appreciation of the neo-liberal ideology (Blanc, 2004). Read more … 

Social Policies on Housing French and Germany

Housing Social Policies Comparison. 

Solved: SW Just-Go Statistics Questions

Solved: SW Just-Go Statistics Questions

  1. SW Just-Go is a fast food restaurant, and has a number of franchisers across the South Wales regions. Recently the Head Office of SW Just-Go received a number of complaints from customers that the queuing time is too long. Each franchiser has randomly chosen 100 customers and recorded their waiting time until food is served. The results are shown in table 1.

Statistics-Questions-SW-Just-Go-table

(a) What is the average waiting time (arithmetic mean) for each franchiser? Which franchiser has the shortest/longest waiting time?

(b) What is the overall average waiting time and standard deviation? Which franchiser should improve their performance and why.  

(c) The Head Office wants to know what the most occurring waiting time in each franchiser is. Explain the concept of the mode, mean, and median and help managers of each franchiser find the right number to report back to the Head Office.

2. SW Just-Go is investigating an option to invest in an online booking system, where customers can order food prior to their visit. The management team is thinking of either developing a mobile app or booking through their website. Before making the final decision, the company conducted a pilot study using both platforms to explore the relationship between online orders and sales revenue. Orders (x) are in 000s and sales revenue (y) is in £000s. Summary data for 6 franchisers was as follows;

(a) Calculate correlation coefficient, r, for each options, clearly showing
calculations, and explain the meaning
(b) Calculate the equation of the least squares regression line (i.e. y = a + bx).
(c) The market research shows that if the company introduces the online booking system, there will be an increase of orders to 20,000. In this case, what might be the estimated sales revenue if there is (a) a Mobile App, and (b) a Website booking? Which system should the company develop?

3. SW Just-Go has field-tested two booking platforms – Mobile App and Website on 1,000 volunteers. At a test volunteers were asked to order their food using the Mobile App and Website system, and asked to rate each system. The results of the test are as follows.

  Mobile App Website
Easy to navigate 385 245
Easy to Order 265 105

Calculate the following probabilities:
(a) that a volunteer who has said that it was easy to navigate
(b) that a volunteer who used the Website and has said that it was easy to order
(c) that a volunteer has used the Mobile App, given that the person said it was easy to order
(d) Based on findings, suggest what system the company should develop to improve customer experiences.

4. SW Just-Go reviewed how much customers spend per order. It has found that the overall spending can be said to be normally distributed with a mean of £22 and a standard deviation of £5.

(a) What percentage of customers have spent less than £15?

(b) As a part of promoting the new online booking system, the company is thinking of offering discount on top 10% of most spent customers. If a customer wants to receive the discount offer, what’s the minimum amount they have to spend on the order?

(c) What if a standard deviation of the sample is £10 instead of £5, how would it affect their discount offer? Would this be a good deal for customers?

Solutions

Question 1:

What is the average waiting time (arithmetic mean) for each franchiser? Which franchiser has the shortest/longest waiting time?

The arithmetic mean can be calculated using the formula when dealing with grouped data
=∑mf/n
Where: m is the class midpoint

Worked out Solutions
Means:
Cardiff = 8.05
Newport = 6.2
Swansea = 8.2

Find worked out, step by step solutions >>>

 

 

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