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CAN YOU DO THEM PERFECT WITHIN MAX 15 HRS ?
Question 1
1. Red Dragon is concerned that one or more of the new delivery people might be slower than the others.
(a) Find 95% confidence intervals for the mean travel time and the mean total time for each delivery person (the total time is the sum of the travel and prep times). Are these fair measures for comparing the efficiency of the delivery people?
(b) Find a 95% confidence interval for the mean speed of delivery for each delivery person, where speed is measured as miles per hour during the trip from the restaurant to the customer.
2. Red Dragon would like to advertise that it can achieve a total delivery time of no more than M minutes for all customers within a 10-mile radius. On all orders that take more than M minutes, Red Dragon will offer the customers a £10 certificate on their next purchase.
(a) Calculate the proportion of deliveries (within the 10-mile limit) that will be on time if M = 25, 30, or 35 minutes.
(b) Let us call the proportion of on-time deliveries p. There is a known expression for the confidence interval of this quantity:
where n is the sample size.
Assume for now that the delivery people in the sample are representative of all Red Dragon’s delivery people. Find a 95% confidence interval for the proportion of deliveries (within the 10-mile limit) that will be on time if M = 25, 30, or 35 minutes. NOTE: The square root function in Excel is SQRT.
(c) Suppose that Red Dragon makes 1000 deliveries within the 10-mile limit. For each of the values of M in part (a) above, find a 95% confidence interval for the total £ amount of certificates it will have to give out for being late.
3. Test whether there is a significant difference between the mean speeds for each pair of delivery people.
Question 2
Read the Store 24 case (on Moodle under Session 5) and answer the following questions.
· i) What question does Paul Doucette want to use data to answer? How would you suggest Sarah to answer this question?
· ii) Beyond the above question Paul Doucette is interested, what is Bob Gordon interested in using the data to answer? How can Sarah answer Bob’s questionusing data?
· iii) Tom Hart has a lot of experience in the field. What is his observation regarding store performance and tenure? How can Sarah test that using data?
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Posing the Questions briefing Jenkins, the group began discussing specific questions to be addressed before the Monday We are considering many strategies for increasing manager and crew tenure. We would like Gordon added:
While site-location factors such as population, number of competitors, and pedestrian access Gordon reflected on the analysis that Hart had presented earlier and added ”I wonder if you might Hart agreed with Gordon’s sentiment on the importance of managers and crew at the store level. The relationship between tenure and financial performance might not be that Jenkins understood that Hart was essentially saying that the relationship between tenure and Getting the Data familiar with Store24’s performance reporting system, and could gather store level operating data This document is authorized for use only in Dr. Alex Yang’s Competitive Strategy FTPT 2017-18 course at Hong Kong University (HKU), from December 2017 to June 2018. 602-096 -5-
Exhibit 3 Summary Statistics from Sample Stores
Store Sales Profit MTenure CTenure Pop Comp Visible Ped Count Res Hours24 Source: Company information.
This docum r. A om trategy FTP ong Kong U K ), from ecem PLEASE IGNORE REPEATED MESSAGES, I AM JUST PASTING ALL I GOT REPEATEDLY Where are the calculations for Confidence intervals of question 1 point 2 c)? You didn’t include those in the excel. First of all, questions 2 i) and ii) are in the Word document only and are not calculation questions. You simply didn’t make sense as the questions were not answered completely. 2 i) you didn’t mention how Sarah should answer the question n question 2 ii) you didn’t complete the final sentence. It’s not clear what Sarah should do. So please complete the actual sentences. In question 1 point 2 i) you didn’t answer the part on how Sarah has to answer the question….It’s simply missing. also, in question 2 i) you wrote the below pasted content. the question is not asking for a final solution, but how you would suggest Sarah to answer this question (it’s more about the approach she should take from a data analysis view). We are not supposed to write a final result or answer. It seems based on the below content you wrote you already found answer on the financial impact. THat’s something we are supposed to do in in-class exercise. from the question we should just show what her approach should be.
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Order
Deliverer
Information Systems Division: Person making the delivery
PrepTime
Information Systems Division: Time (in minutes) from when order is received until it’s ready to be delivered to customerTravelTime
Information Systems Division: Travel time from Red Dragon to customer (minutes)
Distance
Information Systems Division: Distance from Red Dragon to customer (in miles)
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e
Jenkins headed over to Gordon’s office curious about the sudden Friday afternoon meeting. After
morning meeting. Doucette explained:
to use our data to get some estimate of the actual financial impact of increased tenure so that we
can make more informed decisions when considering increasing wages and bonuses or how
much to spend on training and development programs.
are traditionally considered the primary drivers of store success, I have always been a big
believer in the power of ‘people factors,’ such as employee skill and experience, in optimizing a
given site’s performance.
be able to use our data to help us understand how important manager and crew tenure are relative to
site-location factors in determining store level financial performance.”
Having spent a lot of time in the field at various stores prior to becoming the COO, Hart understood
that managers and crew affected store performance in a variety of ways including ensuring compliance
with Store24 merchandising and operating standards, maintaining in-stock position, and managing
shrink and cash control. Hart mentioned:
straightforward. Many of our stores have very low levels of tenure. Increasing tenure in these
stores may have a relatively large impact on financial performance since managers and crew are
developing new skills on a daily basis if we are able to retain them. In stores with our most
experienced employees, these skills have already largely been developed and, hence, an increase
in tenure may have a relatively small impact on financial performance.
financial performance might vary with the level of tenure. She recalled that this meant there could be
a nonlinear relationship between tenure and financial performance; however, she was not sure how
she would incorporate this into her analysis. Jenkins knew that she had to find out what the
implications of such a relationship would be in determining how bonuses and other incentives should
be tied to retention.
Knowing that time was short, Jenkins headed straight for Controller John O’Connell, who was very
quickly. “John, I need a quick favor. I’ve been asked to analyze the relationship between tenure and
financial performance. Can you help me access some data for this project?”
1 1,060,294 265,014 0 24.8 7,535 2.80 3 3 1 1
2 1,619,874 424,007 86.2 6.6 8,630 4.24 4 3 1 1
3 1,099,921 222,735 23.9 5.0 9,695 4.49 3 3 1 1
4 1,053,860 210,122 0.0 5.4 2,797 4.25 4 2 1 1
5 1,227,841 300,480 3.9 6.9 20,335 1.65 2 5 0 1
6 1,703,140 469,050 149.9 11.4 16,926 3.18 3 4 1 0
… … … … … … … … … … …
74 1,782,957 518,998 171.1 29.5 10,913 2.32 3 4 1 0
75 1,321,870 296,826 2.3 8.7 8,966 1.89 4 4 0 1
Mean 1,205,413 276,314 45.3 13.9 9,826 3.79 3.08 2.96 0.96 0.84
Standard Deviation 304,531 89,404 58 18 5,912 1 1 1
Minimum 699,306 122,180 0 1 1,046 2 2 1
Maximum 2,113,089 518,998 278 114 26,519 11 5 5
ent is authorized for use only in D
lex Yang’s C
petitive S
T 2017-18 course at H
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ber 2017 to June 2018.
And how did you get the £ amount in that later question? I understand you multiply the confidence interval value by 1000. E.g. in first case M=25, you multiply .3064 by 1000 and get 306.4. But then why do you write £ 3064 instead of £ 306.4?
In question 2 i) you didn’t mention how Sarah should answer the question
In question 2 ii) you didn’t complete the final sentence. It’s not clear what Sarah should do. You wrote “…So Sarah has to test whether store performance and tenure.” That’s neither a complete nor logical sentence
Regarding the excel, the calculations for Confidence intervals of question 1 point 2 c) are not in excel.
And how did you get the £ amount in question 2 c)??? I understand you multiply the confidence interval value by 1000. E.g. in first case M=25, you multiply .3064 by 1000 and get 306.4. But then why do you write £ 3064 instead of £ 306.4?
In question 1 point 2 ii) you wrote “…So Sarah has to test whether store performance and tenure.” THIS IS NOT A COMPLETE AND LOGICAL ENGLISH SENTENCE!!!!!!!! did you want to say “So Sarah has to test whether store performance and tenure are related” ???
“. Stores with low tenure will have a large positive impact on the financial performance if we could increase the tenure. But stores with large tenure will have a little impact on the financial performance if we could increase the tenure by 1.38 months.”
