Flash Jolt, a manufacturer of camera equipment, - 6614

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  • Posted on: Thu 05 Apr, 2012
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Request Description

Flash Jolt, a manufacturer of camera equipment, annually introduces new models in the fall of the year. At the conclusion of the Christmas season, retail dealers are contacted regarding their stock on hand of each piece of equipment. It has been discovered that unless 47% of the new equipment ordered by the retailers in the fall had been sold by Christmas, immediate production cutbacks are needed. At the end of the 2009 Christmas shopping season a survey of 100 dealers indicated that 45% of Flash Jolt equipment had been sold. It was decided to continue production levels at the current levels. The statistical test was conducted at the 0.05 level. Computed z = –0.40. 

 

A.   Wrong decision, should have cut back production

 

B.   Cannot determine based on information given 

 

C.   Correct decision, not a significant difference

 

D.   The two percentage points be attributed to sampling error 

 

Solution Description

Flash Jolt, a manufacturer of camera equipment, annually introduces new models in the fall of the year. At the conclusion of the Christmas season, retail dealers are contacted regarding their stock on hand of each piece of equipment. It has been discovered that unless 47% of the new equipment ordered by the retailers in the fall had been sold by Christmas, immediate production cutbacks are needed. At the end of the 2009 Christmas shopping season a survey of 1