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Business Stats - Metropolitan Research, Inc.,

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Metropolitan Research, Inc., a consumer research organization, conducts surveys designed to evaluate a wide variety of products and services available to consumers. In one particular study, Metropolitan looked at consumer satisfaction with the performance of automobiles produced by a major Detroit manufacturer. Aquestionnaire sent to owners of one of the manufacturers full-sized cars revealed several complaints about early transmission problems. To learn more about the transmission failures, Metropolitan used a sample of actual transmission repairs provided by a transmission repair firm in the Detroit area. The following data;show the actual number of miles driven for 50 vehicles at the time of transmission failure.;85,092 32,609 59,465 77,437 32,534 64,090 32,464 59,902;39,323 89,641 94,219 116,803 92,857 63,436 65,605 85,861;64,342 61,978 67,998 59,817 101,769 95,774 121,352 69,568;74,276 66,998 40,001 72,069 25,066 77,098 69,922 35,662;74,425 67,202 118,444 53,500 79,294 64,544 86,813 116,269;37,831 89,341 73,341 85,288 138,114 53,402 85,586 82,256;77,539 88,798;Managerial Report;1. Use appropriate descriptive statistics to summarize the transmission failure data.;2. Develop a 95% confidence interval for the mean number of miles driven until transmission failure for the population of automobiles with transmission failure. Provide a managerial interpretation of the interval estimate.;3. Discuss the implication of your statistical findings in terms of the belief that some owners of the automobiles experienced early transmission failures.;4. How many repair records should be sampled if the research firm wants the population mean number of miles driven until transmission failure to be estimated with a margin of error of 5000 miles? Use 95% confidence.;5. What other information would you like to gather to evaluate the transmission failure problem more fully?

 

Paper#24630 | Written in 18-Jul-2015

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