Business Research Methods

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
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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Business Research Methods


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