Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC Enterprises is a growing company in which employees must frequently travel for business. Currently, each employee is allotted 40 dollars each day to cover

image text in transcribed
ABC Enterprises is a growing company in which employees must frequently travel for business. Currently, each employee is allotted 40 dollars each day to cover all meals. Sales employees often travel in a 2-hour radius of the office and frequently have multiple appointments each week. They have complained that that dollar amount for food is not enough, especially on days with multiple meetings. A survey was taken to get recommendations for a new allotment. Although not all responded, the response rate was good - 78%. This week, you are going to use several key numbers to interpret the data. Open the EXCEL Spreadsheet you downloaded last week. Week 1 Discussion Excel dollar amounts Sept 2021 xisx Calculate the following in EXCEL. Mean, median, mode, range, standard deviation of the SAMPLE, Then, answer these questions. . What was the most frequent dollar amount given? Does that number seem to be in alignment with the other measures of central tendency? Why or why not? What is standard deviation? Does the standard deviation show that the data is clumped all together or spread apart? . Let's say that the data is normally distributed. The assigned chapters of the week mention the Empirical Rule. What dollar amount range is one standard deviation from the mean? What percentage of values are within one standard deviation from the mean? Using that same Empirical rule and let's say the data is normally distributed, in what monetary range do 95.44% of all the responses fall? What is your analysis of what the company should do? What should the new dollar amount be? Why? View your discussion rubric

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Auditing and Other Assurance Services

Authors: Ray Whittington, Kurt Pany

19th edition

978-0077804770, 78025613, 77804775, 978-0078025617

Students also viewed these Mathematics questions

Question

work settings of recent graduates;

Answered: 1 week ago