The initial Research:
-First we need to address the management’s concern.
-How to market Gentlemen’s Magazine to shoe manufactures. -How profitable is shoe manufactures?
-What types of sales sources does shoe manufactures uses the most? -What percentage of clothing stores provide shoes sales?
-What is the percentage of demand of men shoes?
-How profitable are sales of shoes?
-How profitable are men shoes going to be to Gentlemen’s magazine? -To customers:
oHow many times a year do they purchase men’s shoes?
oHow many pair of shows do they purchase when they do purchase their shoes? oWhat type of men shoes are they more likely to purchase?
oWhat are the preferred colors?
5. Compute the mean of the following sample values: 16.25, 12.91, and 14.58. 16.25+12.91+14.58=43.74
21. What is sampling error?
Sampling error is the estimated error caused by the observation of a sample instead of the entire population. Could the value of the sampling error be zero?
Only when the sample is the entire population the sampling error...