The Longmont Computer Leasing Company leases computers and peripherals like laser printers. The printers have a counter that keeps track of the number of pages printed. The company wishes to estimate the mean number of pages that will be printed in a month on its leased printers. The plan is to select a random sample of printers and record the number on each printer's counter at the beginning of May. Then, at the end of May, the number on the counter will be recorded again and the difference will be the number of copies on that printer for the month. The company wants the estimate to be within ±100 pages of the true mean with a 95% confidence level.
a. The standard deviation in pages printed is thought to be about 1,400 pages. How many printers should be sampled?
b. Suppose that the conjecture concerning the size of the standard deviation is off (plus or minus) by as much as 10%. What percentage change in the required sample size would this produce?© BrainMass Inc. brainmass.com October 17, 2018, 2:27 am ad1c9bdddf
(a) Confidence Level % = 95
z- score = 1.96
Population SD, σ = 1000
Error, E = 100
Sample Size, N = (z * σ / E)^2 = (1.96 * 1000 / ...
Complete, Neat and Step-by-step Solutions are provided.
Creating a Perceptual Map
The way to determine a product or service's current position in the marketplace compared to the competition is with a customer perceptual map. Most of your staff are not familiar with this concept, so you provide them with an example.
Choose a product or service and identify three companies who manufacture it. For example, you might choose peanut butter as the product you will study. Then identify three peanut butter manufacturers. Next create two questions about how the peanut butter product is positioned compared to its competitors, the other two brands of peanut butter. Ask six people your questions and plot their answers on your perceptual map. Analyze your results, draw conclusions (such as, do you think the product or service is competing head-on or is avoiding competition?), and if needed, make recommendations about the positioning of your chosen product.
Examples of customer perceptual maps may be found at: Perceptual Mapping.
A grid is available at: Perceptual Map Grid which may be used to create your map. There are two grids in this Excel file, each with different values. You may choose either file to fit the style of map you want to create.