Premium Essay

Strategy Sample Test

In: Business and Management

Submitted By smesko
Words 672
Pages 3
Question 1

The management at BuyRite grocery stores wishes to estimate the amount of time that customers are spending, on average, in its stores and in a checkout line. The most obvious approach for determining this information is to simply record when a customer enters and exits the store. However, it is difficult to track the entering and exiting times of specific customers. We will look at the problem using an alternative approach. Over the past two weeks, the following data have been collected at BuyRite’s newest store during busy hours (this BuyRite is rather large and typically has 7 open checkout lines). For simplicity, let us assume that the overall capacity at checkout lines is higher than the arrival rate of customers into the store.

Average rate of customers entering store = 305 customers/hour
Average number of customers in store = 146 customers
Percentage of customers who do not make a purchase = 5%
Average number of customers in the checkout lines = 24 customers

As their consultant, you have been asked by BuyRite’s management to address the following questions:

(a) How much time on average does a customer spend in the store?

(b) How much time on average does a customer spend waiting?

Question 2

The following two sub questions (a) and (b) are independent from each other.

(a) The student recreation center at a large Midwestern university has a computerized stationary bicycle. During peak periods, students arrive to use that bicycle at the average rate of three per hour, Poisson distributed. Each person rides for an average of fifteen minutes, but riding times are exponentially distributed. Please answer the following questions:

(1) How many students would you expect to see waiting for the bicycle, assuming all who arrive wait?

(2) What percentage of time is the bicycle being used?

(3) What...

Similar Documents

Free Essay


...Abstract Business strategy is the strategy which the company uses to compete with their rivals in the same industry. Business strategy is also considered as the spine of the business because it dominates other operations in the company and helps create competitive advantages over their competitors. Due to these very important roles of the business strategy, we decided conduct this research paper with the aim to test whether choosing different types of business strategies will lead to difference in the performance of the companies or not. This research paper is based on the data from quarterly financial reports of the three companies in the computer industry in US from 1999 to 2011. With the findings of the research, the paper draws a conclusion that the impacts of different strategies are not the same, so that the managers should choose the most appropriate and profit-maximizing strategy for their company. Moreover, this result of the test will give incentives to the firms to put forward further test to find out the most effective strategy, which then can be recommended to Vietnam’s businesses. I. Scenario Computer industry is a very young industry in the world and it was not until the late 1990s that it really developed rapidly. In spite of this fact, the computer industry has gained a lot of significant achievements, opening a new era for the human-beings. It is also considered as an industry that has the fastest growth rate with a lot of new innovative products being......

Words: 2923 - Pages: 12

Premium Essay

Master of Managment

...Journal of Management The Role of Sampling in Strategic Management Research on Performance: A Two-Study Analysis Jeremy C. Short, David J. Ketchen, Jr. and Timothy B. Palmer Journal of Management 2002 28: 363 DOI: 10.1177/014920630202800306 The online version of this article can be found at: Published by: On behalf of: Southern Management Association Additional services and information for Journal of Management can be found at: Email Alerts: Subscriptions: Reprints: Permissions: Citations: >> Version of Record - Jun 1, 2002 What is This? Downloaded from at University at Buffalo Libraries on June 20, 2014 Journal of Management 2002 28(3) 363–385 The Role of Sampling in Strategic Management Research on Performance: A Two-Study Analysis Jeremy C. Short∗ School of Business Administration, Portland State University, Portland, OR 97207, USA David J. Ketchen, Jr. College of Business, Florida State University, Tallahassee, FL 32306, USA Timothy B. Palmer Department of Management, Haworth College of Business, Western Michigan University, Kalamazoo, MI 49008, USA Received 4 June 2001; received in revised form 30......

Words: 11266 - Pages: 46

Free Essay

Reviewing Strategies for Preparation of 4th Year Nursing Students for Upcoming

...ANALYSIS AND INTERPRETATION OF DATA This chapter presents the results of the survey on different reviewing strategies that are beneficial for the preparation in taking Nursing Licensure Examination of the 4th year nursing students batch 2010-2011, analysis and interpretation of data. Sample characteristics One hundred three Fourth Year Nursing Students of Laguna College Batch 2010-2011, sixty July 2010 Nursing Licensure Examination passers and twenty Clinical Instructors and Administrators completed the questionnaires. Participant characteristics are shown in Figures 4.1, 4.2, 4.3, 4.4 and __________. [pic] Figure 4.1. Age Distribution of the 4th Year Laguna College Nursing Students According to Figure 4.1 the age distribution profile of 4th year nursing students of Laguna College batch 2010 -2011 with a total of 103 taken as population sample has 44% or 45 respondents of age 19 years old and below, 50% or 52 respondents from age 20-25 years old and 6% or 6 respondents from age 26 years old and above. [pic] Figure 4.2. Gender Distribution of the 4th Year Laguna College Nursing Students Figure 4.2 shows that out of the 103 fourth year nursing students taken as sample population, 73 respondents or 75% of the sample population are female and 30 respondents or 25% of the sample populations are male. [pic] Figure 4.3. Age Distribution of the July 2010 Nursing......

Words: 1861 - Pages: 8

Free Essay


...Report No: 2408-1 Request: Simulation of EEPROM corruption Requester: Ann Portia Yturiaga Dinglasan <> Sample Module Submitted: FTLF1318P2BTL Date: August 16th, 2013 Prepare by: Chew Yoon Kit ------------------------------------------------- Solution details After sample module finish Module testing, sample module will proceed for Label test. In Label test, sample module will proceed with standard labeling test without customization; 1. Initialize the MapDef 2. Serial number checking 3. Part number checking 4. Memory map archive which include; a. EEPROM [Table 0] b. FCC Albany [Table 0 to 33] 5. EEPROM check with reference file 6. FCC table check with reference file Sample module will proceed to Custom Label test which test include; 1. Initialize the MapDef 2. Serial number checking Later sample module will proceed to Barcode test which test include; 1. Initialize the MapDef 2. Serial number checking 3. Part number checking Suspected area which may corrupt EEPROM; 1. Serial number checking 2. Part number checking 3. Memory map archive 4. EEPROM checking *Note: Not likely will corrupt EEPROM since it’s just only read access the EEPROM only* ------------------------------------------------- Strategy [I] Simulate 20,000 cycles of continuous read and compare; 1. Serial number checking 2. Part number checking 3. EEPROM check with......

Words: 298 - Pages: 2

Premium Essay

Written Report for “July at the Multiplex”

...of Contents MEMORANDOM 2 List of Figures and Equations 5 EXECUTIVE SUMMARY 6 INTRODUCTION 7 LEGAL ANALYSIS 8 Misrepresentation 8 Rule 8 A representation of a fact was made 8 The representation was falsified with intent to deceive 8 When made, the representation was known to be false or made recklessly without knowledge of its truth. 9 The representation was made with the intention that the plaintiff should rely upon it. 9 The plaintiff justifiably relied upon the representation 9 The plaintiff suffers economic damages as a result. 10 Things to consider 10 Conclusion. 10 STATISTICAL ANALYSIS 11 Patron Surveys 11 First Survey 11 First Hypothesis Test 11 First Survey’s Conclusion 13 Type II Error in the First Survey 13 Second Survey 13 Second Hypothesis Test 14 Second Survey’s Conclusion 15 Type I Error 15 Conclusion of Statistics 16 Strategic Consideration 17 Better Services Before and After Sales 17 Porter’s Five Forces Analysis 19...

Words: 6152 - Pages: 25

Premium Essay

Case Study

...well the organization is able to maintain good and effective communication strategy especially in the field telephone ordering services and customer service.Therefore the Phonemin company is not an exception. Learning from the case study there is indeed challenges that the phenemin company is going through due to the fact of inadequate staffing, lack of training for qualified CSR. And the problem of carefully evealuating the performance of CSR in the phenomin company.In order for the Phenomine company to succeed it engaged the services of qualified HR specialist who came out with the two methods of assessing and evaluating CSR performance.The two methods are results of clerical test and results of clerical samples. 1. How do you interpret the reliability of results for the clerical test and work sample? Are they favorable enough for phonemin to consider using them for keeps in selecting job applicants? My answer to this question is that looking at the various components of the evaluating process of the test results, it seems that the results of the clerical test results seem to make some sense .I understand that sometimes people term to get nervous at the begging of a test but once they get used to it and get settle that nervousness is reduced and the person is able to do well. Therefore I m not surprise to see time 2 been higher than that of time 1.I think the results for clerical test is viable for phenomin to maintain in screening and selecting......

Words: 573 - Pages: 3

Premium Essay


...Statistics Exercises - Solutions Covariance, correlation, the t-test 1. Consider the following data: x y 0 4 2 3 4 1 5 1 7 2 8 1 10 0 Calculate the correlation coefficient between variables x and y. First we calculate the means E(x) = 5.14 and E(y) = 1.71. Then, we calculate the unbiased estimators for the variance V ar(x) = 12.14 and V ar(y) = 1.90. Using the formula for the unbiased estimator for the covariance, we get Cov(x, y) = −4.12. Our correlation coefficient then is Corr(x, y) = −0.86. 2. Consider the following data: x y 0 0 2 1 4 2 6 3 8 4 Calculate the correlation coefficient between variables x and y. What does this mean? We first calculate the means E(x) = 4 and E(y) = 2. Then we calculate the unbiased estimators for the variance: V ar(x) = 10 and V ar(y) = 2.5. The covariance can then be calculated as Cov(x, y) = 5. Thus our correlation coefficient is 1. This means that the data = ”fully” linearly correlated, or that there is a function y = ax + b that translated the x data into the y data. 3. We want to check if on average a cup of butter contains 250 grams or less. A sample test of 25 cups reveals an average of 248.2 grams and a standard deviation of 2.5 grams. Check whether the smaller mean is a significant difference for a significance threshold of 5%. Or null hypothesis is H0 : µ = 250. We test this against H1 : µ < 250.√ Therefore our statistic √ ¯ is T = X−250 n. From the sample we get a t-value of T = 248.2−250 25 = −3.6. We reject S 2.5 the null hypothesis......

Words: 804 - Pages: 4

Premium Essay

Business Maangement

...1.1) Definition of 'Mode' A statistical term that refers to the most frequently occurring number found in a set of numbers. The mode is found by collecting and organizing the data in order to count the frequency of each result. The result with the highest occurrences is the mode of the set. Other related terms include the mean, or the average of a set; and the median, or the middle value in a set. Investopedia Says Investopedia explains 'Mode' For example, in the following list of numbers, 16 is the mode since it appears more times than any other number in the set: 3, 3, 6, 9, 16, 16, 16, 27, 27, 37, 48 A set of numbers can have more than one mode (this is known as bimodal) if there are multiple numbers that occur with equal frequency, and more times than the others in the set. 3, 3, 3, 9, 16, 16, 16, 27, 37, 48 In this example, both the number 3 and the number 16 are modes. If no number in a set of numbers occurs more than once, that set has no mode: 3, 6, 9, 16, 27, 37, 48 Fashion is generally an answer to the question, "What is the mode?" e.g. "What's the most popular sneaker?" or "What shirt style would most people want to wear?" 1.2) Definition of 'Median' The middle number in a sorted list of numbers. To determine the median value in a sequence of numbers, the numbers must first be arranged in value order from lowest to highest. If there is an odd amount of numbers, the median value is the number that is in the middle, with the same amount of numbers below and above....

Words: 3091 - Pages: 13

Premium Essay


.... . . . . . . . . . EB Jacobs, LLC 300 South Burrowes Street State College, PA 16801 EB Jacobs Law Enforcement Aptitude Battery Assessment Preparation Guide for the 2013 New York State Trooper Entrance Examination Terms and Conditions This Assessment Preparation Guide is the copyrighted work of EB Jacobs, LLC. This guide contains information that is legally protected, confidential, and intended ONLY for REGISTERED APPLICANTS who are preparing to take the 2013 New York State Trooper Entrance Examination. Except as specifically permitted, no portion of this guide may be distributed or reproduced by any means or in any form, without EB Jacobs' prior written permission. As a registered applicant you are being provided with a single copy of this guide to be used for your personal use to prepare for the 2013 New York State Trooper Entrance Examination. You are expressly prohibited from distributing copies of this guide. This guide may not be modified in any way. By accepting this guide, you agree to these conditions. Only registered applicants for the 2013 New York State Trooper Entrance Examination have permission to use this guide. Unauthorized reproduction of this guide by any other individuals is strictly prohibited. EB Jacobs reserves the right to seek all remedies available by law for any violation of these terms and conditions. All rights not expressly granted herein are reserved. Copyright © 1998 – 2013 by EB Jacobs, LLC. All rights to the information contained......

Words: 18583 - Pages: 75

Premium Essay

Hotel Paris

...disciplined and dedicated. That’s where human resources come into place. This particular division is responsible for motivating, recognizing, and training the right people for the job. All companies have some sort of strategy that must be formed in order to reach these short term and long term goals and it involves managers at all organizational levels. When it comes to Hotel Paris, a human resources management system was created to help Hotel Paris achieve its strategic goals. Hotel Paris (International) started in 1990 in the suburbs of Paris. It now consists of nine hotels located in France, London, Rome, New York, Miami, Washington, Chicago, and Los Angeles. One of the main strategies is to expand geographically, provide excellent service, and improve their reputation which would lead to satisfied guests and the ability to expand. So, with approval from the top management team and board of directors, they decide: “The Hotel Paris International will use superior guest services to differentiate the Hotel Paris properties, and do thereby increase the length of stays and the return rate of guests, and thus boost revenues and profitability.” Now with the strategy put in place, Lisa Cruz, HR manager, must now figure out a way to implement this strategy in order to achieve their goal by eliciting the required employee behaviors and competencies through job description, new recruitment process, and testing. Staffing and Job Description Lisa Cruz is......

Words: 1182 - Pages: 5

Premium Essay

Oedipus Rex

...Differences between qualitative and quantitative research methods Source: SEEP-AIMS 2000 Learning from Clients: Assessment Tools for microfinance practitioners. Washington, DC: AIMS/Management Systems International () Quantitative and Qualitative Methods As outlined in the previous chapter, the AIMS/SEEP approach to impact assessment by and for practitioners combines quantitative and qualitative techniques. The Impact Survey and Client Exit Survey are categorized as quantitative tools because they collect standardized information by asking exactly the same questions to clients and organizing their answers into quantifiable response categories. The individual Loan Use Strategies Over Time and Client Empowerment interviews and the Client Satisfaction focus group discussions are qualitative instruments that gather more detailed information through a more flexible, in-depth dialogue with clients. AIMS believes that these two categories of tools are complementary, each providing different types of information that enable evaluators to gain a more complete, richer picture of impact than would be possible with only one. This chapter's overview to quantitative and qualitative approaches presents the differences between the two techniques and provides general guidelines for their application. The interviewers' roles and responsibilities for both quantitative and qualitative techniques outlined here apply to all the corresponding tools presented in this manual. Quantitative?......

Words: 1670 - Pages: 7

Premium Essay

Quick Response

...and the Strategy Ahead for the Domestic SME Apparel Manufacturers Nobby (Nobukaza) Azuma School of Management Heriot-Watt University UK E-mail: Fax: +44-(0) 131-451-3498 Abstract Quick Response (QR) has long been perceived as the essential survival strategy of the textile and apparel (T-A) manufacturers in the developed economies against offshore competition. However, the regionalization of global economies and active governmental investment in the T-A industry in the offshore countries has allowed the offshore QR to become increasingly feasible. This changing facet of QR may spell out more lucrative opportunities for Japanese "apparel firms", which have predominantly in-house creative and marketing functions, to widen the scope and the scale of their fashion business operations, since the economic upgrading in the Pacific Rim will create a huge consumer market that shares similar fashion trends as in the Japanese market. However, the apparel firms' production shift offshore has, on the other hand, threatened the existence of the domestic SME apparel manufacturers that have traditionally served their apparel firms customers, now that QR is no longer the sustainable competitive advantage of domestic manufacturing. The purpose of this paper is to explore the levels of QR implementation, identifying the potential pitfalls and drawbacks of the current QR initiatives in the Japanese apparel sector, and hence discuss the optimum QR strategy or......

Words: 5667 - Pages: 23

Premium Essay

Pairs Trading

...N. Goetzmann Yale University K. Geert Rouwenhorst Yale University We test a Wall Street investment strategy, ‘‘pairs trading,’’ with daily data over 1962–2002. Stocks are matched into pairs with minimum distance between normalized historical prices. A simple trading rule yields average annualized excess returns of up to 11% for self-financing portfolios of pairs. The profits typically exceed conservative transaction-cost estimates. Bootstrap results suggest that the ‘‘pairs’’ effect differs from previously documented reversal profits. Robustness of the excess returns indicates that pairs trading profits from temporary mispricing of close substitutes. We link the profitability to the presence of a common factor in the returns, different from conventional risk measures. Wall Street has long been interested in quantitative methods of speculation. One popular short-term speculation strategy is known as ‘‘pairs trading.’’ The strategy has at least a 20-year history on Wall Street and is among the proprietary ‘‘statistical arbitrage’’ tools currently used by hedge funds as well as investment banks. The concept of pairs trading is disarmingly simple. Find two stocks whose prices have moved together historically. When the spread between them widens, short the winner and buy the loser. If history repeats itself, prices will converge and the arbitrageur will profit. It is hard to believe that such a simple strategy, based solely on past price dynamics and simple contrarian......

Words: 2306 - Pages: 10

Premium Essay

Effect of Metacognitive Strategy Instruction Through Cooperative Learning Onreading Comprehension on Esl Students

...Effect of Metacognitive Strategy Instruction Through Co operative Learning on Reading Comprehension among Secondary School ESL Students Author: Mrs. Jane Sequeira is a research scholar at St. Ann’s College of Education. She has served as a teacher for classes’ right from Kindergarten to 12th standard for two decades. She is passionate about trying innovative methods to make the process of teaching learning effective and enjoyable. At present she is conducting an experimental study under the guidance of Dr.Vijaya Kumari S.N. The author may be contacted at Abstract The present study titled “The effect of Metacognitive Strategy Instruction through Co operative Learning on Reading Comprehension among Secondary School ESL Students” is an Experimental Study. The pre test - post test control group design was adopted for the facilitation of which the researcher prepared instructional materials both in Metacognitive Strategic Instruction through co operative learning and Conventional Method and applied them on the experimental and control group respectively to find out their effect on the respective groups and compare them. A reading comprehension test prepared by the investigator was used as pre test and post test. The sample consisted of 112 ESL students of standard nine studying in Kannada medium. Descriptive statistics Mean and SD were calculated to find out the effect of the teaching strategies and Inferential statistics ‘t’ test was used to......

Words: 2617 - Pages: 11

Premium Essay


...SHRM FOUNDATION’S EFFECTIVE PRACTICE GUIDELINES Selection Assessment Methods A guide to implementing formal assessments to build a high-quality workforce Elaine D. Pulakos SHRM FOUNDATION’S EFFECTIVE PRACTICE GUIDELINES Selection Assessment Methods A guide to implementing formal assessments to build a high-quality workforce Elaine D. Pulakos This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Neither the publisher nor the author is engaged in rendering legal or other professional service. If legal advice or other expert assistance is required, the services of a competent, licensed professional should be sought. Any federal and state laws discussed in this book are subject to frequent revision and interpretation by amendments or judicial revisions that may significantly affect employer or employee rights and obligations. Readers are encouraged to seek legal counsel regarding specific policies and practices in their organizations. This book is published by the SHRM Foundation, an affiliate of the Society for Human Resource Management (SHRM©). The interpretations, conclusions and recommendations in this book are those of the author and do not necessarily represent those of the SHRM Foundation. ©2005 SHRM Foundation. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system or transmitted in whole or in part,......

Words: 20431 - Pages: 82