Business Research Methods.
After reading the Chapters 14 (Sampling), 15 (Analysis and Presentation of Data) and, 16 (Exploring, displaying and examining data), answer the questions below.
Go to http://highered.mheducation.com/sites/0073521507/information_center_view0/index.html
click on “student edition”, go to cases and click on “Campbell-Ewald Pumps Awareness into the American Heart Association case”. Then, once you have read the case answer questions 2 and 3 from the case. Answer the questions in APA style.
Assume the following:
2.1. A lakefront resort is planning for its summer busy season. It wishes to estimate with 95% confidence the average number of nights each guest will stay for a consecutive visit. Using a sample of guests who stayed last year, the average number of nights per guest is calculated at 5 nights. The standard deviation of the sample is 1.5 nights. The size of the sample used is 120 guests and the resort desires a precision of plus or minus .5 nights. What is the standard error of the mean in the lakefront resort example? Within what range below can the resort expect with 95% confidence for the true population means to fall? Show the calculation; otherwise, the answer will not be accepted.
2.2. A local restaurant is planning a study on demand for meals over holiday weekends. In calculating the desired sample size for the study, the restaurant’s researcher decides to use a rule-of-thumb calculation for estimating the population dispersion. If the range of meals in the study is 0 to 30, what standard deviation does the rule-of-thumb method produce? Show the calculation; otherwise, the answer will not be accepted.
2.3. A microbrewery plans to conduct a study on beer consumption among men between the ages of 29 and 45. A pilot test indicated that men in this age category consume an average of 6 beers per week with a standard deviation of 2.3. If the microbrewery seeks a 95% confidence level and a precision of .5 beers, what size sample should be used in the study? Show the calculation; otherwise, the answer will not be accepted.
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