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    Quantitative methods for WidgeCorp

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    Scenario:

    WidgeCorp became the market leader in snack foods after acquiring a rival company, Company W. Their management style and business decision-making differed. Employees at WidgeCorp collected relevant data and through statistical analysis used this information to draw conclusions and make appropriate recommendations. Company W tended to rely on the experience and judgment of its managers. For the time being, both companies are being managed separately, but within the next twelve months they will merge all management, processes, and accounting. You work for Company W and are a little nervous about this new way of working, but realize that you need to be able to present issues and recommendations with statistical verification to the WidgeCorp executives. You will also introduce and employ statistical analysis to the senior management of Company W's various departments such as Marketing, Sales, and Production. Part of your job will be to educate Company W as well.

    Issue:

    The marketing department likes to know patterns about the consumers who call the 1-800 phone bank with questions/problems. You meet with them to discuss the matter. Using the Discussion Board, suggest at least 3 quantitative objects that you should keep track about each caller and/or their behavior with respect to the snack food category and indicate if each variable is continuous or discrete (refer to the Question and Answer Resource for this week for the definition of continuous and discrete variables). Post your list on the Discussion Board. Read the other postings and respond to anyone who listed variables similar to yours by saying which variable you prefer and why.

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    Solution Preview

    The marketing department likes to know patterns about the consumers who call the 1-800 phone banks with questions/problems. You meet with them to discuss the matter. Using the Discussion Board, suggest at least 3 quantitative objects that you should keep track about each caller and/or their behavior with respect to the snack food category and indicate if each variable is continuous or discrete (refer to the Question and Answer Resource for this week for the definition of continuous and discrete variables). Post your list on the Discussion Board. Read the other postings and respond to anyone who listed variables similar to yours by saying which variable you prefer and why.

    There are three quantitative objects that I would keep track of about the customers who call the 1-800 phone banks with questions/problems. The three quantitative objects that I should keep tract about each caller is the time each caller has to wait before her call is answered, the second variable is the value of the purchases made by each caller, and the third variable is whether ...

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